Tenants are paying rent for the priviledge of living in your property. However, they are not in the business of enhancing your property’s value by landscaping and spending a great deal of time gardening. It is unreasonable to expect them to do more than mowing the lawns, keeping the edges neat, and pulling out a few weeds. That is why it is a good idea to establish easy-care gardens in rental properties, so that the property can remain attractive externally with little effort on the part of the tenant.
Otherwise, consider including a gardener as a part of the rental agreement. That way you can make sure your property is kept the way you would like.
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Can house rentals compete with apartment rentals? Apartments have many amenities. Swiming pools, spas, tennis courts, programed social activies, clubhouses, etc.
If you are single it can be trouble free living and a active social enviornment. However, when you have a significant other, social intercourse may not be at the top of your agenda.
Privacy and space between rentals may be desirable then the social amenities. A garage for your car and additional storage may be a longing desire. More room and perhaps a garden to putter in.
Anoter desire may be to leave the party atmosphere with knocks on the door at night and weekends.
The most compelling reasons usually are privacy, yard, and more space.
1. By Lambert Munz MPM, RMP Buyer consultant and property manager Visit www.Arbourpm.com regarding our services or our stores at www. Expert-Landlord-Resources.com
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New investors this advice from a veteran Real Estate Broker and property manager. No matter if the Realtor is your best friend he/she must by law represent the seller if presenting a listing of the seller. The law state that the Realtor has a fiduciary+ relationship to the seller.
+FIDUCIARY: Holding or held in trust. Trustee
If they appear to be representing you then they are violating the law.They must disclose who they represent. The Realtor cannot disclose the seller’s negotiation strategies or what price he/she may agree to. That is why I keep recommending that you hire a Buyer’s Agent.
You can negoiate a fee or the agent representing you can share the seller’s Realtor’s fee. Sign a contract with the BA and you are officially represented. contract with the BA and you are officially represented. The BA can reveal anything he/she knows about the seller’s strategy and weak areas. He/she may be in a position reveal to you if the seller has to sell. We used to identify a seller by these two motivating factors. “WILL SELL” which means the seller will sell if they get their price or terms and the “WANT TO SELL” which means that the seller is motivated to sell for some urgent reason.
A BA can do a little detective work about the seller since, he/she the seller, is not a client. The seller may have financial problems, may be moving out of town, or there is a major maintenance problem that is pending that he/she wants to avoid. He/she may be going through a divorce and needs to liquidate to satisfy the divorce settlement.
The Seller’s Realtor has not developed the techniques of a BA because they haven’t had the experience or training. They have taken the typical Realtor training which consists of farming for listings, advertise and sell.
I will repeat do not buy Real Estate especially in a strange town unless you have representation. My background before becoming a property manager was as a representative for investor buyers. I have been in the real estate business 44 years. I am not condemning the seller’s Realtor because they have to disclose who they represent to you, but most people don’t realize that you are not being represented
Licensed with CA Dept of Real Estate 44 years as a broker. Commercial investments. Currently property manager with 27 years experience residential and commerical Hold two designations MPM Master property manager and RMP Residential Management professional awarded by National Association of Residential Property Managers Read chapter one of our new Book HOUSE INVESTOR’S MANUAL http://www.expert-landlord-resources.com/resourcestore.html
1 By Lambert Munz MPM, RMP Buyer consultant and property manager Visit www.Arbourpm.com regarding our services or our stores at www. Expert-Landlord-Resources.com
2. We have discontinued comments because of irrelevant comments and link hookers. If you wish to contact me I welcome you to do so at propertymanager@arbourpm.com
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The number one reason is that we are working with two opposing interests. One wants service with the lowest possible rent and the other doesn’t want to spend money and wants the highest rent they can get.
If we represented one community, such as a large apartment house, we would have one consistent image to offer our tenants. However, we represent hundreds of owners of different cultures and personalities. We unfortunately offer different policies for different properties and owners to our tenants. What is agreeable to one owner is not agreeable to another.
Some owners want their properties maintained while others; if it means spending money rather ignore maintenance.
This makes it very difficult to manage and keep the customers happy. Tenant retention is so important such as offering a gift or dinner out for renewing their lease and paying their rent on time. Not all owners wish to offer gifts. Some can’t afford it.
I have to share a story with you regarding a party I attended. A mortgage broker can up to me and said you have one of the toughest jobs in real estate. I agreed, but responded that is why I have a job. I wonder what he is doing today.
1. Visit <a href=”http://www.arbourpm.com”>go to http://www.arbourpm.com</a> regarding services and our book House Investor’s Manual
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Our experience regarding screening of our relocating tenants is 1% What does this mean? 1% of landlords accommodating our former tenants don’t call us for rental history. This includes eviction cases. The recording of the eviction lags 30-60 days which results in not being reported on credit reports during their relocating.
Lenders are not checking either when our former teant is applying for a new mortgage. I can’t understand these lenders. Haven’t they learned anything from this economy?
Before renting to strangers please take our advice and check on a tenant’s rental history from a couple of former landlords.
. By Lambert Munz MPM< RMP
Buyer consultant and property manager
1. Visit <a href=”http://www.arbourpm.com”>go to http://www.arbourpm.com</a> regarding services and our book House Investor’s Manual
2. Sign up for future blogs (about twice a week) by clicking on RSS feed or if you wish to share post with someone click on share button or if you wish to subscribe add your email where indicated and click subscribe.
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