Like most businesses, rental property owners must adapt to the “new normal” and change in our COVID-impacted world. From social distancing and cleaning procedures, to renters who have been hard hit economically, landlords are searching for new ways to handle their rental properties and navigate the challenges. Communication – good, consistent communication – is essential. Don’t …
Continue reading “Your Rental Properties and the “New Normal””
According to CoreLogic’s recent Single-Family Rent Index report, Phoenix had the highest year-over-year increase in single-family homes rent in August 2020. Among the 20 metro areas included in the report, Phoenix had the highest year-over-year increase in single-family rents at 5.8%. Tucson, Arizona, had the second-highest rent price growth with a gain of 4.8%.
There is an old saying that goes, “It’s not the initial cost, it’s the upkeep!” A fitting saying for many situations and certainly one to consider when investing in home rentals. Preparing a home for rental goes beyond the purchase price. It includes remodels and upgrades that give you the best bang for your buck …
Continue reading “Rental Renovations with a Solid Return on Investment”
As we keep hearing, these are unprecedented times. The Covid-19 crisis has led the government to take extraordinary measures to support the economy and protect people that have been impacted by the pandemic. For landlords, the various eviction holds that have been placed are amongst the most significant actions and a cause of confusion. Here’s …
Continue reading “Navigating the Covid-19 Eviction Restrictions”
Business owners know that it’s important to build a strong rapport with customers. Good relationships and solid customer service will keep them coming back again and again. But how does this apply when you are a landlord and your customer is your tenant? In essence, you want them ‘coming back’ for more in terms of …
Continue reading “Building Positive Relationships with Your Tenants”
The dilemma is yet to be solved. No sooner is a return-to-school plan established, then something changes. It’s a challenging time for parents who are juggling onsite and remote work while helping their children with e-learning, adjusting to daycare changes, and trying to make plans for children to return to school classrooms – at least …
Looking for a home to rent can be challenging, and when you find the perfect place, there may be several others who have discovered it too. Understanding the application process and being prepared can make all the difference in securing your ideal residence. Have your paperwork in order: In addition to filling out an application, you …
Investing in the rental market can be a prudent way to build up your financial portfolio. Like anything worth doing, however, there’s the wise and thoughtful path and the hit or miss impulsive path. Taking time to study the industry and industry tools before you jump in pays off. Frankly, with the changes in technology, …
Reducing the time between tenants is essential – after all, an empty rental doesn’t produce income. A plan for efficient repairs, updates, and cleanup makes a difference, whether you do it yourself or hire professionals. A thorough deep cleaning not only attracts tenants, but often reveals areas that need further attention. Furthermore, in our current …
You and your tenant: In Part I, we shared do’s and don’ts for investing in a rental property. In today’s blog, we talk about what happens after you sign the dotted line, and the rental game begins. Do’s Remember, this is a business relationship. You are ‘selling’ a product/service – a place to live with …
