photo credit: izzie_whizzie
Entering the world of real estate isn’t as difficult as some believe. It’s being a landlord that can be challenging. Most people begin their foray into real estate with the purchase of their primary home and that’s where their adventure ends. For others that’s just a jumping off point and a rental property quickly becomes their next money making venture. (more…)
photo credit: Aidan Jones
A lot of property owners reach a point where they have more rental units and property than they can personally manage. It’s important to take a step back and admit when you’ve hit this point, if not your tenants, property, business and reputation will suffer. When you hit this point, it’s probably time to hire a property manager. (more…)
photo credit: visualpanic
The reverse home mortgage is a home equity loan available to seniors as a means of obtaining income from their homes. In positive situations, it can be a way for an older person to stay in his or her home despite a loss of income caused by retirement. It can even be used to invest in the home, create a profit, pay off additional rental property mortgages and establish financial security. However, bad choices (including using bad lenders and accepting bad terms) can make the reverse mortgage a negative situation instead of a positive one. (more…)
photo credit: stangls
Landlords and property managers have noticed a trend over the past few years that they generally see as a benefit: there are more renters on the market these days. That’s because many home owners have lost their homes to the subprime mortgage bust and the general decline in the housing economy. These people can’t afford to buy another home so they end up getting back into the renting pool. (more…)
photo credit: TheAlieness GiselaGiardino??
One of the things that many people fail to take into account when they consider working as property managers is the fact that they are always going to end up stuck in the middle. The purpose of the property manager is to work as a liaison between the landlord and the tenants of the property. To do so without going crazy, you really need to be able to draw clear boundaries on both sides as to what your role is going to be. (more…)
photo credit: desi.italy
As a landlord, you might have some questions about which duties you can pass along to a property manager and which ones you should take care of yourself. Here are some of the common duties that can typically be safely handled by the property manager: (more…)
photo credit: Apollo-Jack
People who are interested in snapping up homes that have hit the market after foreclosures will want to start looking in the Southwestern part of the United States. New foreclosure data reveals that Nevada, California and Arizona are the three highest-ranking states for 2008 foreclosures. (more…)
photo credit: allygirl520
Should you collect last month’s rent when your tenant moves in? Most landlords do not collect a last month’s rent, instead they collect as much as they possibly can for a security deposit and use that to defray any costs or rent that is left over after the tenants move out. (more…)
photo credit: diongillard
Screening your prospective tenants needs to be taken seriously and treated like a job. You need to follow the same screening procedure for each applicant and document your work. These steps are not only important for you to make sure you’re getting the right sort of tenant but they’re important protection against discrimination suits. (more…)
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