Investment properties represent an opportunity to earn income (passive or active) and build a strong portfolio with which to meet your long-term investments. While owning multiple properties gives you the chance to realize more income, managing multiple investment properties can easily become a full-time job - and one that is rife with challenges and complexities. Because the success of your investments boils down to your ability to manage properties, it is essential that you start on the right footing.
Summer is a time to take on a number of outdoor property maintenance issues. A few of them are a pain, but this is the ideal time of year to handle them. Let them wait, and they'll only become tougher. Your ability to manage each will vary depending on your personnel, equipment, and expertise. Don't hesitate to shop around and contract an outside company to take the less manageable or more time-intensive jobs off your plate.
As a landlord, you want reliable, trustworthy tenants who take pride in their home and treat it as if it were their own property. But walk a mile in their shoes as well: they want a reliable, trustworthy landlord who takes pride in his/her property and wants it to be like home for them. The best way to get great tenants, then, is to be a great landlord.
If you think of your tenants as customers, it becomes clear that the only way to keep them - and to attract new, qualified tenants - is to provide a valuable service, comply with applicable rental laws, and go the extra mile to ensure their satisfaction. We’ve provided several actionable tips to help you become a successful landlord:
Asheville residents often feel like they are competing over the same few apartments and rental homes. People are flocking to our area for the opportunity to secure a great new job in view of the mountains while enjoying a wide range of outdoor activities whenever they are not at work. Property values have steadily risen for some time as the demand has increased, and there is no end in sight the growth in our area; therefore, it is that much more frustrating when you have trouble filling a vacancy in your rental unit.
The key to solving ongoing vacancy issues with the right tenants is effective property marketing. In this article, we are providing # steps to getting the word out about your excellent rental.
Everyone has stories of the “nightmare” tenant or the “horrible” landlord. There can be tension on both sides of the rental equation, and this is a situation that affects not only your stress levels but also your profitability as a building owner. Maintaining healthy and respectful relationships with your tenants is essential, and it can do much to prevent issues down the road. How do you do it?