Consider color when repainting

Landlords often regard painting to be a necessary evil. They know that in order to make the rental unit appear clean and new, painting between tenants is often required, especially in hallways and other high-traffic areas. In order to please the most people and keep the place bright, most landlords default to white or light beige for paint colors. But before you pick up another quart of Eggshell Semi-gloss, consider the possibility of branching out in paint colors just a bit.  By keeping them fairly light pastel shades but trying different hues in different rooms, you could make your rental property really stand out from the crowd.

When deciding which colors to try, consider these general rules regarding colors:

• Pale blues, greens and lavenders can have a calming effect. Consider using these colors in a renter’s bedrooms or bathrooms.
• Green also is a great color for a home office—it is considered the “color of concentration” and if there’s any truth to that, a nice pale shade of green on the walls where the computer will be might not be a bad idea.
• Warm tones, such as yellows, oranges, and reds, are friendly and inviting. These rooms often are good in the living room or entryway, but don’t be too bold. Consider painting one accent wall rather than doing an entire room in red.  Also be mindful that bolder shades, especially red, have been shown to increase heart rate and blood pressure, stimulate activity and also increase appetite!
• Neutral colors have broad appeal in rental units because they’re, well, neutral. Light beige and eggshell or cream are relaxing and inviting. Plus it’s a safe bet they’ll go with just about anyone’s furniture and décor. If you want to stay neutral but branch out just a bit, consider taupe or grey/beige.

Visit ATS Inc's homepage for more information about our Tenant Screening Services 

Follow ATS Inc on Twitter!

Repaint main rooms between each tenant

Do you paint your rental unit between tenants? Should you? Everyone knows it’s easier to market and show a rental unit when it is aesthetically at its best; that means professionally cleaned carpets, a pristine bathroom, and a glistening kitchen. But what about the walls? Nicks and scuff marks on the walls can make even the cleanest apartment appear unclean and “used.”

Most people don’t ever wash their walls, but dust, dirt and residue from smoke, perfumes and other things can build up on them, making them appear dingy. Barely noticeable to a casual observer, if you look closely at a wall inside any residence, you can tell whether or not the room is actually really clean.

Repainting at least the most high-traffic rooms between tenants is always a good idea. Even if by some miracle your tenant hung no pictures or curtain rods that required any kind of drilling, screwing or nailing hardware into the walls, chances are they did have and move furniture inside the residence, leaving scuff marks and scratches on corners and in hallways.

Knowing that you’ll most likely be repainting frequently, don’t spend a lot of money on super-high quality, super-expensive paint. Select something neutral and bright, and include a stipulation on the lease that allows for the tenant to paint ONLY IF they agree to repaint to the original color before moving out. Last but not least, select a paint color (and write the exact color name, number and manufacturer on the rental agreement) by a high-profile, easy-to-find brand, so you’ll be able to match the color exactly the next time a tenant moves out

Visit ATS Inc's homepage for more information about our Tenant Screening Services 

Follow ATS Inc on Twitter!

Girl becomes homeowner, landlord at age 14

Rental property investment is a business more and more people are getting into as a second, or even retirement, career. But Port Charlotte, Fla., might have the youngest landlord in the U.S. Fourteen-year-old Willow Tufano bought a house in a short sale in Port Charlotte for $12,000. The three-bedroom house is now rented out for $700 a month.

According to news reports, the home had been on the market for $100,000 at the peak of the housing bubble. It was listed at $16,000 but Willow (and her mom) got it for $12,000. Willow put down $6,000 cash and her mom, a real estate agent, ponied up another $6,000 for the house.

The teenager, who recently appeared on “The Ellen DeGeneres Show,” said she earned her money primarily from offering a service where she clears out foreclosed houses on behalf of the new investors, picking through the stuff and reselling any goods or appliances that she can. She also spends her weekends looking for deals from garage sales and reselling them for a profit on Craigslist. She started buying and selling things at age 12 and had $6,000 saved in a year and a half.

After closing on the house, she made a few improvements and turned it around to rent, becoming a new landlord at the ripe old age of 14. Not a bad start to what surely will be a career in rental property investment.

Visit ATS Inc's homepage for more information about our Tenant Screening Services 

Follow ATS Inc on Twitter!

Four key factors to consider when investing in vacation rental property

A few years ago (OK maybe more than a few), buying a vacation rental property seemed like a dream to many. Mortgage rates were high, properties were expensive, and available inventory in prime locations was relatively small.

But this isn’t a few years ago. Today, making your dream of owning vacation rental property is within reach, thanks to more vacation properties for sale, dropping prices and lower interest rates.  If you’re in the market to become a new landlord of a short-term rental, the key is to find the perfect property to make those dreams come true. Here’s what you want to keep in mind:

1 Location, location, location. Everyone envisions a gorgeous villa on the beach with spectacular views of the ocean. While oceanfront vacation rentals are among the most lucrative, there are plenty of other locations that can bring in rental revenue year-round. Think about what attractions are around you, think outside the box. Are there excellent shopping opportunities like huge outlet centers that draw crowds from out of town. Are you near a large college with a huge following of fans that are perpetually in need of a place to stay for games, graduation and other special events?  What about great golf courses or nearby amusement parks? The more attractions that are within an easy drive of your rental property, the better chance you have of keeping the place booked.

2

 Your budget. Be realistic about how much you want to spend on a vacation rental property, including what you’ll need to spend to furnish the place for your guests.

3.The size of property you need. How many people/couples/families are you hoping will be using the property at any given time?  Though not necessary, having a bathroom for each bedroom is ideal.

4Your future plans. How often do you plan to stay at the property? Do you hope to move there one day? If so, you want to select a place that suits your needs as well, though that should be secondary if your plans don’t include moving in for several years. You never know what might change by then. 

Visit ATS Inc's homepage for more information about our Tenant Screening Services 

Follow ATS Inc on Twitter!