Why Consider Owning a Rental Home?

Consider Owning a Rental Home - Positive Points


Owning a rental property or being a landlord isn't for everyone, but if you are thinking of having a rental home here are some positive points to consider.


Real estate can be a good long-term investment; however, property condition and rentability are key. Trust a real estate professional to guide you when evaluating whether a specific property has a high probability for resale and can provide an appropriate yield in rental rates. You have to do your homework before you dive in or else you may find yourself with a “lemon” property. Finding the right property with appeal to renters (and future owners should you resell), the right location, and the right potential rent rate, is most important!

Fabulously Free Finds - Spring Printable

Spring Printable to Decorate Your Home


Spring is near! To celebrate we created this simple Spring printable for you! It's 8x10 so it will be easy to find a frame for it. Download it and print it as many times as you like! Happy printing!

Click here to download a PDF of the Spring Printable. 

Click here to download a JPEG of the Spring Printable.

Spring Printable to Decorate Your Rental


Other printables available on our blog:
Fabulously Free Finds - Easter Labels
Fabulously Free Finds - Printables to Organize Your Home
Fabulously Free Finds - Printables from World Label
 

Please note that we do not receive commission in anyway for the promotion of content from other websites/blogs. The intent and purpose of all information in this post is merely for reference.

Top Upgrades to Boost Rental Rates



We took a look at the results of a survey conducted by Multifamily Insiders about apartment shoppers' top five things they look for when searching for a new home and we found the results to be surprising. According to the results, price was outranked by 17 other features including location, laundry facilities, hardwood floors, closets and storage, appliances and fixtures, pet policy, safety, and management. So what does this mean for rental property owners? You can make your rental home more appealing to renters by upgrading your home. The plus side to upgrades? Upgrades boost your rental rates!

Flooring

Upgrades come in all shapes, sizes, and price points. If you decide to make one and only one upgrade to your rental home, spend the money to upgrade carpet to hardwood floors. Hardwood floors ranked 3rd amongst apartment shoppers and many said whether or not a rental had hardwood floors became the deciding factor.

Boost Rental Rates - Hardwood Floors
Homerwood

There are numerous benefits to hardwood floors, not only are they easy to clean and maintain, but a quality product can reduce your turnover costs. The cost of continually replacing carpet and having it cleaned can add up over time. Increase the longevity of your flooring by upgrading to a quality product. A cheaper alternative to traditional hardwood floors is laminate wood-look flooring. There are numerous options on the market for quality laminate flooring that can have the impact of hardwood and the benefits of easy maintenance and low costs. 

St. Patrick's Day Activities for Kids




Below is a round up of fun and unique St. Patrick's Day Activities that are safe for children of all ages!


The Pleasantest Thing

St. Patrick's Day Gold Dig - Fill a bowl with shaving cream, some green glitter, and 4 drops of food coloring. Mix together and add gold coins for the kids to find.

Why Hire a Property Manager Instead of DIY?



Some property owners are excellent candidates for leasing and managing their own properties, whether they have the education, experience, or just plain guts to do it. However, more often than not, property owners get in way over their heads. Here are some points to consider when determining if you want to brave handling the property management or if you’d rather let the professionals take care of it for you.
 
Pricing 
 
If you are going the DIY route you will end up deferring to friends and family first to get an idea of what your property may rent for. Or you will find yourself scouring Craigslist or the newspaper to try and figure out “what’s the going rate?” If you work with a property management company they will take on the search burden and guess work off your shoulders. They would have comparable market data to give you a more accurate rate based on location, subdivision, and property specifications as compared to other properties that closely match the criteria. With so many factors to consider it is important to get the right rent rate in the beginning so you can reduce your vacancy, push revenues, and start collecting rent checks more quickly!

Advertising  

Sure, anyone can jump on Craigslist and post an ad or pay the local newspaper to run an ad. But property management companies most often have an extensive advertising source list of places they advertise properties. With additional exposure you will undoubtedly get more traffic on your property and hopefully lease it more quickly. And on top of that, there is typically no additional expense to the property owner to utilize the company’s advertising options- it’s built into the price of leasing!