Reasons Landlords Should be Thankful

1.      New laws favor landlords

Over the past year, we’ve told you about several laws across the US that have been passed in favor of making your job easier. In Florida, it’s now easier to evict and landlords in Wisconsin can throw away abandoned items without facing prosecution.  Having the law on your side is always something to be thankful for!

 

2.      YouTube can help you do anything.

So, perhaps you aren’t a handy landlord. The good news is that it’s 2013, and if you have a computer and the internet, you can fake it until you make it. Did you know there are tutorials on YouTube for ANYTHING and everything home-related? Would you like a 20-minute instruction on installing aceiling fan? How about learning to fix a toilet in 7-minutes? Yes, we will always be thankful for YouTube.

 

Be thankful the answer to many questions are just a click away

 

3.      Delinquency and Foreclosure rates have improved

How much have they improved? Some estimates say to their lowest rate since 2008. This is good news for property owners everywhere, as a dip in foreclosures and delinquencies can only help the value of your own property to stabilize or perhaps finally see some improvement!

 

 

So what are you thankful for this year? Tell us below! For this and more information about landlording and real estate investing, visit our website at http://www.alwaysscreen.com

It’s Spring! Time for Landlords to Clean Up The Yard

Today is the first official day of spring, and for many landlords and property owners this could be time to begin assessing your landscaping needs. While many landlords stipulate in their lease agreement that yard maintenance is the responsibility of the tenants, you might find yourself with a vacancy in the coming weeks and will want to fix up your property for new renters and new spring blooms.

Here is a spring to-do list for this year's inaugural yard cleanup:

1.     Rake leaves out of garden areas. Piles of dead leaves will suffocate your existing flowers and plants. Plus, cleaning out beds will give the yard a fresh look and showcase any returning blossoms to potential tenants. A handy leaf blower can help expedite this job.

2.     Trim back dead shrubs and flowers. If your hydrangea bushes still have last year’s dead blooms, trimming them off will only ensure healthy new buds in the coming months.  Tenants will be delighted when they notice lots of budding perennials.

3.     Clean out last year’s mulch. This will make room in your gardens for a fresh layer to be applied. New mulch makes any landscaping job appear well maintained. It’s also healthier for your plants.

4.     Assess the lawn. Spring is a good time to aerate and reseed the lawn to ensure thick growth all season long. If you noticed the property had a lackluster lawn during last year’s spring and summer, this is a good time to begin trying to make it better.

 

Remember the importance of curb appeal, as the yard could be the first thing potential tenants notice when they come for a tour of your rental property. Great looking landscaping only complements a great home, and having both will ensure you can justify charging a competitive monthly rent.

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Landlords: Easy Updates For the Kitchen

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Last month, we talked about cheap and easy ways to freshen up the bathroom in your rental unit. This month, we offer landlords and property owners advice to making their kitchen look good for less.

Freshen Up Cabinets If you are a new landlord, costly cabinet replacement or refacing is likely not in your budget for 2013. The good news is that you can improve their look without breaking the bank. Cabinets can be given new life with a good cleaning, and the addition of new hardware. If you are feeling really ambitious, sanding and painting the doors can change the look entirely.

Put in an island A kitchen island is functional in so many ways. They can provide extra counter-space for eating, food prepping, and most importantly more kitchen storage. Tenants love having more storage. The best part is, sometimes you can find really nice second-hand islands on Craigslist or in consignment stores.

Improve the backsplash If you are not a handy landlord, the good news is you can have new, inexpensive backsplash installed for about $10 a square foot. If that isn’t in the budget for this year, than consider re-caulking the area behind the countertop and wall to freshen up any unsightly areas.

Replace lights or ceiling fans Replacing outdated light fixtures or a ceiling fan can make a room feel brand new. If your kitchen has decades-old brass fixtures consider replacing with more modern, sleek options. It will immediately appeal to prospective tenants and make your rental instantly more desirable.

The kitchen is the heart and soul of any home. By making a few simple changes, you can create an inviting area that is sure to please any tenants.

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How Landlords Can Improve The Bathroom in a Rental

One of the best ways landlords and property owners can make their properties more appealing to renters is by making improvements to the bathroom. However, most new landlords probably don’t want to get caught up in an expensive renovation during times of economic uncertainty. The good news is, there are ways to improve the bathroom without breaking the bank:

Freshen up grout and caulk. New tiling can be a very expensive upgrade. A simple way to avoid those costs is to clean up your existing tiles by re-grouting and re-caulking around the sink and tub areas. Grout and caulk are relatively cheap, and can make such a huge impact.

Replace faucet fixtures. If your rental property’s sink and shower faucets are more than fifteen years old, they probably aren’t energy efficient. New fixtures don’t have to be expensive, and they will make your bathroom shine. Big box stores sell faucets starting around the $30-$40 range.

Add storage. If the bathroom space in your rental is small, tenant applicants will appreciate having more storage options.  Consider adding shelves or cabinets to a small bathroom area to make the space more appealing.

Don’t just paint the walls. If a new sink and vanity isn’t in your budget, consider sanding and painting the existing one. A fresh coat of paint can make an otherwise older, outdated vanity look brand new.  Accent the piece with new knobs and modern drawer pulls. Your tenants will not even know the cabinetry isn’t brand new.

Update the little things. Don’t overlook the smaller, inexpensive fixtures. Replacing old toilet paper holders, towel racks and adding a quieter, more efficient ventilation fan can bring your bathroom’s style & functionality into the new millennium.

Many real estate experts believe that updating a bathroom is a great way to add value to your property.  While a huge renovation may not be in the budget for 2013, even small upgrades to your bathroom will make a huge difference in the appeal of your rental. 

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Property Owners: ‘Tis the Season for Fire Safety Reminders

It’s that time of year, when the chill in the air and the approaching holiday can mean increased fire hazards in and around the home. All property owners, landlords and property management companies should be vigilant about reminding tenants of these hazards. Landlords and tenants need to know how to protect themselves, their possessions and their property.

Holiday Decorations: Use non-combustible, flame-resistant materials. Never use lighted candles on a tree, evergreens or other flammable materials.

Lights: Check for loose connections, broken or cracked sockets or frayed wires. Use UL approved lighting. Fasten lights to the tree and prevent bulbs from coming in contact with the needles or branches. Unplug all exterior and interior holiday lights and decorations before you go to bed.

Trees: Be sure a natural tree is fresh and less likely to become a fire hazard by cutting 2 inches off the trunk and placing it in a sturdy water stand; water the tree daily. Keep the tree away from fireplaces, wall furnaces and other heat sources. When opting for an artificial tree, make sure it is labeled “fire resistant.”

Portable space heaters: Keep space heaters at least 3 feet away from anything combustible. Turn on space heaters only when you are in the room. Don’t leave a space heater on overnight or near children and pets.

Cooking: Turkey fryers should be used outdoors and away from buildings and flammable materials.

Fire Escape Plan: Be sure your tenants have and know an escape route. Check to make sure there is a working fire extinguisher in the kitchen, laundry room, and garage. Remind them to never burn greens, papers, or other decorations in the fireplace. Test all smoke alarms, and replace their batteries every six months.

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Landlord Tips: Curb Appeal Goes Beyond Cleaning Up

Curb appeal is something every landlord pays attention to when it comes time to land a new tenant. Attracting tenants to a rental property is done a few ways, one of which is by a carefully worded classified ad. But once the ad piques their interest and they obtain the address, a drive-by is the next step – and they have to like what they see when they drive by.

For many property owners and property management companies, prepping for the tenant drive-bys is limited to decluttering the front porch and trimming a hedge. But if property owners spend a little time and resources into making some small changes that upgrades their property’s curb appeal, they could be looking at a much shorter down time between tenants, and possibly even a bit more in what tenants are willing to pay for rent. If you’re interested in doing more than sweeping the front sidewalk, try these landlord tips:

1.     Play up the era. If your property is from a certain era, play up those features on the outside. Install outdoor lighting authentic to the period, add shutters or other small structural changes that add interest and charm.

2.     Use plants. Adding shrubs, flowers and even small trees in just the right spots can really make the place look inviting. You can also use foliage as additional buffers between close rental units, to add privacy.

Fences make good neighbors. People like privacy, so adding fences, whether a few decorative posts out front or a more substantial fence to enclose the property, will increase curb appeal – particularly for those with pets and children

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Tenant screening service should help you interpret the results, not just spit out a report

Most property owners understand the importance of tenant screening, but many are still a bit lost about how best to use all the information gleaned from background checks and credit reports. The best way to make the tenant screening process as simple and clear as possible is to hire a tenant screening service that not only provides accurate reports but also qualifies the information. This rare extra step allows the landlord to make an informed, quantifiable decision about who should become their next tenant.

At ATS, the landlord sets the criteria for the hiring decision. In other words, you pick what is most important to you in regards to the background check, and ATS returns an approval, conditional approval or denial based on what was found regarding the criteria you set. This system not only simplifies the screening process, it also creates a uniform decision that negates any question of bias and helps eliminate any subconscious discrimination against an applicant.

For even greater efficiency, ATS offers its clients pre-filled denial notice and Fair Credit Reporting Act compliance letters, to help landlords deal with the legalities involved with making the best decision for their property while maintaining a balance of fairness and objectivity.

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