Tips on Being an Efficient and Effective Property Manager
Today, more than ever before a growing number of people are choosing to manage their own properties as a way to increase rental income and revenue. That said here are some useful ways of being a more effective property manager regardless of whether the property is residential or commercial. Keep in mind that being a landlord can be challenging so be prepared by bringing to the table a wealth of research and knowledge. Renting To The Right Tenants A competent property manager requires investing time, effort and money into being one that is truly successful. One of the most important aspects of getting property management right from the very beginning is always screening tenants thoroughly. Renting to the right tenants can save a lot of time and trouble down the road. Do a comprehensive credit and rental history check to ensure that you are choosing the best applicant. In addition it is important to have the correct kind of lease or rental agreement in place. Important To Fulfill All Obligations It goes without saying that having a written lease agreement for any rental property is an absolute necessity. Downloading the first free online copy of an agreement that you come across is not recommended. It is better to hire an experienced real estate lawyer who can then write up an agreement that will ultimately save you money in the future. The right type of lease agreement will clearly state all rights and responsibilities as they relate to both parties. As a landlord it is important to fulfill all obligations. This includes properly maintaining a property, and providing other routine maintenance as necessary such as keeping the lawn mowed and performing routine repairs and upkeep. Gift Card To A Local Restaurant Equally important is to reward your tenants when possible. Being overly strict and excessively overbearing can deter long-term a lease with good tenants. Tenants who consistently pay rent on time and who never have issues or problems should be rewarded occasionally as a way to show appreciation. Whether it is a gift card to a local restaurant or some other type of similar gift, a small investment in a gift of appreciation is well worth the investment. Finally, always carry full rental insurance on any rental real estate in Anacortes as a way to protect your property at all times. One lawsuit or some other type of event such as a fire can result in devastating losses for property owners. Contact Nicole Haun today to learn more about Anacortes property management and real estate ownership. About Nicole Contact Nicole Haun today by visiting Realestateinanacortes.com and filling out our simple online contact form. We offer access to a wide range of Bow WA multiple listings as well as homes for sale in Mount Vernon Washington and many other surrounding communities. Read our latest Press Release Twitter Hash Tag #RealEstateInAnacortes Follow Nicole Haun on Twitter @HomesAnacortes
Smart Strategies For Investing In Real Estate
Modern Real Estate Opportunities Few other investments in the world compare to those involving real estate. That said investing in this type of asset is often more complicated than investing in things like stocks or commodities. As such it is a good idea to first gain an education on the subject of investing in investment properties. Here are a few smart strategies for investing in today's modern real estate opportunities. For example, location should always be a prime concern. The old saying that location matters is just as true today as it was years ago. Fixing Up And Selling A Home Before handing over a huge down payment on an investment property, always make sure that you have carefully chosen the best location for a given area. Compare the worst and best houses on the street to help you determine if your investment is indeed sound. Obviously, choosing the least desirable house in an excellent neighborhood can be a smart move financially. Investing in fixing up and selling a home and by bringing it up to the standards of surrounding homes is typically a very profitable venture. Available At A Deep Discount In addition, smart real estate investing frequently involves finding and comparing wholesale properties. A savvy investor in real estate will typically avoid paying full price for an investment property. Focus on looking for wholesale properties that are available at a deep discount. Those that require major rehab or remodeling or foreclosure properties are just a few examples. Maximizing return on investment begins by making a smart purchase at the very outset. Equally important is to consider the tax benefits associated with investing in real estate. Tax Benefit Of Depreciation The tax credits and advantages associated with investing in real estate can be substantial and rewarding. Real estate investors can write off depreciation and take a wide range of other important tax deductions. Consulting with a tax advisor is the best strategy in this regard. One example of a depreciation related tax benefit is that of the depreciation write-off. This can be taken on a residential building and can last as much as 27 years. Conversely, an Oak Harbor commercial building investment can enjoy the tax benefit of depreciation for more than 39 years. Consider these simple yet important tips and strategies as a way to maximize your returns as a modern real estate investor. Contact Nicole Haun today to learn more about investing in Anacortes real estate as a profitable long-term venture. About Nicole Contact Nicole Haun today by visiting Realestateinanacortes.com and filling out our simple online contact form. We offer access to a wide range of Bow WA multiple listings as well as homes for sale in Mount Vernon Washington and many other surrounding communities. Read our latest Press Release Twitter Hash Tag #RealEstateInAnacortes Follow Nicole Haun on Twitter @HomesAnacortes JUNE 9, 2017
2017 is the Perfect Year to Buy a Home
Make An Investment If you have been on the fence about buying a home, 2017 may be the ideal time to consider making a purchase. Many experts in the industry are saying that now is a better time than ever before to jump in and make an investment or to simply get out of the rent paying routine. This is especially true considering that rental rates have steadily increased across Washington State in recent months. The prediction is that rental rates will only continue to increase. Price Appreciation While it is true that inventories of homes have tightened, there is a growing number of homes being added to the mix as more and more homeowners look to capitalize on increased property values in 2017 by selling. This equates to a greater selection for potential home buyers. Price appreciation, while a two edged sword can indeed be a major driving force in the real estate industry ultimately spawning greatly increased activity in the market. This added to the fact that in 2017 there is expected to be ongoing growth in those who will hire contractors to build a home on a recently purchased lot. Builders Are Also Speculating With tight inventories 2017 continues to see more creative approaches to home ownership. If you can’t find the home of your dreams, simply find the perfect lot and then build a home to your exact specifications. Not a bad idea, especially in light of the fact that home choices have been somewhat limited in recent days. Builders are also speculating and building starter and middle-range homes for the same reason. This type activity serves to bolster inventory levels to some degree. Interest rates are another key metric in today’s unique real estate market. Trending Toward A Steady Rise Even though the Fed just raised benchmark rates again a few days ago, the overall interest rate that drives Anacortes mortgage rates is still considered invitingly low by historical standards. In short, consumers are still enjoying what are some of the lowest interest rates seen in a generation. While rates are trending toward steady rise, it is a slow process and as such potential homebuyers can expect good deals in this regard through the remainder of 2017 and into 2018. At the end of the day 2017 is truly a great time to buy a home in Anacortes or anywhere in Washington State. About Nicole Contact Nicole Haun today by visiting Realestateinanacortes.com and filling out our simple online contact form. We offer access to a wide range of Bow WA multiple listings as well as homes for sale in Mount Vernon Washington and many other surrounding communities. Read our latest Press Release Twitter Hash Tag #RealEstateInAnacortes Follow Nicole Haun on Twitter @HomesAnacortes JUNE 17, 2017
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