Landlord Christmas List

Are you making a list and checking it twice? Here’s our list of people every landlord should include on his/her Christmas list!

 

Make your list, and check it twice!

1.      Your tenants: They like to know you are thinking of them during the holidays. A personalized not goes a long way in keeping the relationship running smoothly.

2.      Your trusty handyman: If he works weekends or holidays, you might want to send him more than a card. A bottle of wine or gift card to Home Depot couldn’t hurt either!

3.      Your security man (or service provider): Goes without saying, let them know you appreciate the work!

 

Others not to forget!

 

4.      Office Assistants: Because without them, you’d be completely disorganized!

5.      Property Managers: After all, you trust them with your investment

6.      Trash provider: Not an easy job, especially if you have multiple units

7.      Lawyers: As much as they love when you call for a problem, they like to hear from you when things are going well, too!

8.      Tenant Screening provider: Just because J

9.      Mail carrier: Their job isn’t easy either, especially if your property has multiple units and frequent change of faces.

10.  Real estate agents: You never know when you’ll have to call them up for help in filling a vacancy or buying a great investment property!

 

For this and more info on landlording, please visit us at http://www.alwaysscreen.com

Poor tenants to get shown the back door

A New York real estate developer has unveiled plans to build a waterfront tower in the Upper West Side of Manhattan that will include both luxury condos and affordable rentals.  What makes this building unique is that the developer plans to include two separate entrances to the building – one for the wealthy and one for the lower-income tenants.

Officials speculate that the builder is looking to cash in on tax incentives by offering affordable housing, but they want to keep the lower-income tenants are kept separated from those with the big bucks.

Just how much will it cost to use the exclusive entrance to the building? Well, a neighboring building by the same developer sells 1-bedroom condos for $1,000 a square foot.

Poor tenants have to enter luxury buildings through the back

The Department of Housing Preservation and Development is still reviewing the plans, which some lawmakers are calling “a blatant attempt at segregation.”  

What do you think? Should separate building entrances for higher paying tenants be considered discrimination?  

For more information about property management services, or to get the best background check for your tenants, visit ATS Inc.’s website at http://www.alwaysscreen.com

Pros of renting to tenants with pets

In a competitive rental market, some real estate professionals might suggest you offer incentives such as free wifi, first months rent free, or a store gift card to qualified tenants just for signing a lease. Others say the solution could simpler: just allow pets.

While pets can be taboo for landlords because of the possibility they could damage your rental, they can also bring about some positive benefits to a property owner.

Let’s look at some of the Pros to allowing tenants to have pets:

·         Less vacancies

If you advertise your rental as “pet friendly,” chances are there will be greater interest in your property.  One study found that rentals allowing pets rented in 19 days, versus 29 days for non-pet-friendly units¹.   

·         More long-term rentals

The same study found that tenants with pets tended to rent for an average of 46 months, as opposed to non-pet-friendly units where the average tenant rented for 18 months.

·         More profit for landlords

Researchers also found that landlords who allow pets see more demand, and therefore can charge higher prices for monthly rent. How much higher? According to the survey, 20-30% higher rents.

Tenants allowed to have pets rent for twice as long as those who can’t

What is your stance on renting to a tenant with a pet? If you’ve had a positive experience, we want to hear about it. Comment below!

For more information about tenant screening, and other tools every new landlord or real estate investor needs, visit ATS Inc.’s website at http://www.alwaysscreen.com.

^{1 http://www.firepaw.org/CompanionAnimalRentersPetFriendly.pdf}

Networking with other Property Owners

There are so many ways for landlords and property managers to network with each other via various internet channels. Why should you want to stay connected with other rental industry experts?  Here are just a few ways that networking can enhance your real estate investment business:

Keeping Vacancies Minimal

Nowadays, you can utilize social media networks and certain internet group forums to advertise a rental unit to a massive audience. If you are connected to other property managers and real estate professionals on social media, they can share your rental listing with their followers, expanding your reach even more. The more people who view your rental property online, the better the chances are of renting it out quickly.

Online Groups Help you Get Answers

There are many groups on sites like LinkedIn, Google+ or Facebook geared specifically for landlords, property managers, real estate professionals, etc. If you sign up and join these groups, you’ll be able to get tons of free advice from other industry experts. You can get ideas on various topics, from how to stage a small space, to how new laws might affect the terms of your lease agreements.

Establish Yourself as An Expert

Networking with other property management insiders can also help build your credibility as an expert within the rental industry as you offer advice to others. You can also answer questions in group forums, or share things you’ve learned  from your tenants. You can also offer to guest blog for another website, and reach out to a new audience who wasn’t familiar with your business or properties.

For more info on how to successfully network with other landlords , or to get the best credit report for landlords, visit ATS Inc’s website.