Landlord’s Corner

profits investorsReal estate investing has three primary vectors to increased profits, there are a few other niche avenues but for the most part, it boils down to these three points.

The three primary real estate profit venues:

  1. Property value
  2. Rental income
  3. Property services income

 flip houseThe past year saw a dramatic rise in home flipping trend. Although over heated, analysts feel that 2016 is going to set new records in home flipping industry with more households joining the bandwagon. As per a research by Trulia, 5% of all home sales in 2015 came from house flipping.

Geographically, flipping varies a lot as per the property market. For example, Las Vegas witnessed high growth in house flipping whereas Detroit was placed at the bottom of the pile. Also, Florida areas are making entry into the flipping arena with zealous interest. Such markets also display a high number of investment property loans.

Historically, real estate agents consider house flipping to be a peak of a housing market. This can sometimes also signal over heating in the property realm. However, past year’s rise is nowhere close to the historic highs and instead show a steady increase that can be at most considered a healthy uptrend. Nationally speaking, it is well under control barring a few regions.

fame The right kind of fame.

Recent landlord news over the past few years shows an increase of landlord fame, although not famous for the reasons they might wish. With a bit of planing and teamwork you can avoid increased insurance costs, remodeling costs, legal fees, administrative charges, and fines related to the "wrong" kind of fame.

Stories abound on not so lawful methods utimately being employed in order to get rent from a "Slick Willy" mooching renter. Some of the stories are almost as funny as college pranks such as removing the front door entirely instead of just padlocking it shut. Other methods make the news as our following frustrated Landlords did.

Thursday, 29 October 2015 00:00

Facing Rental Property Abandonment?

What are Landlord's Legal Rights?

tenant keysEvery landlord or real estate investor wants decent tenants the day they think of buying rental property. Quiet tenants are considered good choice as they never create a fuss and live quietly without any complaint or arguments. But, sometimes this silence of the tenant raise the issue of abandonment.

Generally, landlords focus on trouble-makers and overlook the silent absentees. Silence is good, but not always! If you find that your tenants have disappeared without any notice or are off on long vacation, make sure you inquire about them to avoid any problems down the line.

Rental property abandonment is a major problem for landlords. Buying rental property involves such risks right from the very beginning. The situation gets worse if the tenants abandon their furniture, magazines, books, and even trash. If you are facing this kind of problem, following are some tips that you should keep in mind.

emotionSigning a Tenant is An Emotion-Based Process

If you’ve ever been in the sales business of any kind, you must have heard that people are said to making purchases with their emotions and backing it up with logic. This principle along with clear communication is the key to ensuring you keep the right tenant in your property. There's more to investing in rental property than just buying a rental home.

In this article, we are going to see how this principle can help us fill vacancies and keep the rent money flowing in.

Monday, 05 October 2015 00:00

What every landlord should know

Are You Becoming a Landlord

knowledge is powerKnow The Real Truth Behind Every Landlord

Everyone likes passive income. And nothing brings in more money than a good rental property in the USA. Personal finance blogs and financial advisors all suggest that you invest in rental property in your neighborhood and even list steps to make it possible. But its easier said than done since ground realities are different from what seems on the surface.

At the same time, the right amount of passive income is the key to successful retirement. So, lets explore the real truth behind becoming a landlord and how to become one.

Buying Your First Rental Property

5steps to buying your first rental propertyBusiness loans for rental property are every newbie investor's nightmare. Yet, it is exactly the forbidden fruit you are going to have to taste in order to create a successful rental portfolio. A new investor might have read real estate magazines, books and blogs. But nothing teaches more than experience.

You are not alone since buying a rental property involves many considerations. Trust building and relationship with brokers plays an important step. Here are 5 more credible steps that you need to take in order to secure the right commercial real estate loan.

Importance of Hiring a Property Manager For Your Single-Family Rentals

rental single family homes need property managersHiring a property manager for your single-family rentals is important for protecting your investment and maximizing income. The single-family investment climate is a well-known financial strategy in the U.S.

Say you have purchased or inherited a home, or perhaps you were transferred but don’t want to sell your home yet. From a management point of view, you have two options, either manage the property yourself or hire a property manager to look after it.If you hire a property manager they deal with many issues involved with property management on your behalf.

security signHome security systems are not only meant for homeowners, they can also be used by landlords who rent out their property. If you are a newbie to the rental property scene or you are simply wondering which home security system is ideal for you, this article will explain how to choose the right security system for your rental property.

Budget

Landlords are often required to operate their rental properties on a strict budget. Luckily, there are methods to economize on a home security system purchase without compromising quality. Installing the security system yourself can help you save a good amount of money, and most D-I-Y installations can be completed in an hour or so.

If you can devote your time to install the system yourself, make sure that you do it correctly. It can be a fantastic way to reduce your home security costs. Another great way to save money on an alarm system is to go for a hardwired system. Although wireless systems have their own benefits, wired systems are a more budget-friendly choice.

Friday, 28 August 2015 00:00

Taking Baby Steps to Landlord?

Crucial Facets to Know Before Buying Your First Rental Property

Real estate investing can offer a bright financial future! However, just because real estate investment has a great reputation for delivering great returns, doesn’t mean that all investments are the same.

The secret to obtaining great returns lies in understanding and choosing only the best real estate. This article will help you sort through the clutter by providing the important considerations to think about before buying your first rental property.

How To Be A Good Landlord – Tips, Advice & Responsibilities

landlordsBuying a rental property and becoming a landlord comes with a lot of responsibilities and unfortunately stress. A landlord generally deals with tenants and their complaints, high dollar property repairs and many other endless rent tax issues. All these things turn a well-meaning property owner into a jaded landlord.

 

Oftentimes, as a landlord, it is easy to see your tenants as dollar signs, instead on building a good tenant/landlord relationship. But, establishing a good relation with your tenants and marketing yourself as a good landlord has various benefits. You won't be having any disputes with your tenants over repairs or maintenance. Your tenants are more likely to renew the lease even with a rent increase.

 

Following are seven tips you can utilize to be a great landlord.

 

1. Customize the Lease

You can get a standard lease form online or from any office supply store. This will cover the basics of lease, including rent, security deposit cost and legal terms and conditions. You can consider adding any special rules and include late payment fees to maintenance responsibilities. A clear lease with all do's and dont's mentioned, will reduce friction between you and your tenants.

 

2. Know the Laws

Each state has a landlord and tenant act that covers rent, security deposits, rights and duties of landlord and tenant. You can get the copy of these terms from the Department of Housing office in your area. Get to know about the laws and your duties towards your tenants. In worst-case scenario, violating a tenant’s right may lead you to the civil court.

Complete Guide to Landlord Financing

Is Buy-to-Rent a Gold Mine as Advertised for Landlord Financing Investors?

leaseWhat is Buy-to-Rent for Landlord Financing?

Buy-to-rent is pretty much what it sounds – you buy a real estate property for the purpose of renting it out to tenants.  Landlord financing is available because as a future landlord, you are making an investment we can help finance.  Why? Because becoming a landlord is just like becoming a small business owner. Your property acts as medium to long-term investment, but also as a business with proven resources and credibility worthy to finance. Buy-to-rent investment varies a lot from owning your own home.

 

Is the buy-to-rent market a wise area for landlord finance investing?

The short answer is yes. The buy-to-rent market has grown, and continues to grow, thanks to an increasing population that has led to a shortfall in available properties in U.S.


What else drives the rental market for landlord financing?

8 Step Ultimate Guide to Keep Your Tenants Happy

happyA happy tenant often means a happy landlord. When a landlord has a good relationship with their tenant, issues such as property damage, late or no payment of rent can be reduced to a certain level.

While it is beneficial for a landlord, building and maintaining a good relationship needs some work. You can't build a good relation with your tenants by merely putting them into a property or by keeping an eye on every activity of your tenant.

Below is the list of key things to consider when building a great relationship with your tenants:

Keep Pests Out of Your Rental Property!

house pestsPests – roaches, ants, termites and so on – can create a huge nuisance at any premises. Rental properties are no different. Keeping pests out of the rental property is a year round job. Pest infestation can seriously affect the structural integrity of your investment. If you are dealing with a home that seems consistently plagued by pests, here are a few simple tips to eradicate these varmints from your property:

Don’t Feed or Water the Pests

Simple enough, pests roam around in search of food and water. Learn what particular pests eat and try to eliminate those sources. If you have tenants, ask them to keep the property dry and clean. Don't give the pests any reason to get inside your premises.

Make Your Rental Property Spring-Ready Without Breaking the Bank

spring cleaningSpring is just around the corner. That means many renters will now be looking for a rental property to move into. Landlords all over U.S. must gear up to do some spring cleaning on their rental properties. Cleaning and maintaining your property doesn't only have to happen only in spring, but this time of the year is great to get up close and personal with your property to look for issues or problems that 'Old Man Winter' left behind.

Also, some repairs and fixes are impossible to do when the weather is freezing cold. So it's better to take advantage of the warmer weather to check on things. After all, warmer days bring a warmer rental market.

Here a few tips to help you attract new tenants to vacant properties without breaking the bank: