How Paint Color Affects Mood

Whether or not you decide to let tenants paint the interior is your decision. However, should you be so bold as to forego the standard neutral tones in favor walls with color, keep in mind that your decision could impact the mood of your renters.

Some psychologists believe that color changes the chemicals in our brains, which directly correlates to our brain energy and level of excitement. For example, it is believed seeing the color red can increase heart rate and make us more alert. Perhaps it’s not the best color to use in bedrooms where one goes to relax.



 

Orange is considered to be warm and joyful color. It reminds us of the sun and ripe fruit, and therefore would be best suited for gathering rooms such as a living room or kitchen areas. Your prospective tenants might be turned off to too bold of a color in bathroom or bedroom areas.

A blue bedroom can create a calming effect for tenants

Blue is considered the most relaxing of colors. It should be used in rooms where one wants to feel calm and centered, such as bedrooms, bathrooms, or a personal office space.  Green is on the same spectrum of blue, and is also considered to make us feel serene and refreshed. Keep in mind that you can add green to a room not just by painting, but by adding plants or having a window that looks out to a lush lawn or trees.

For this an other tips on decorating your rental property, please visit our website at http://www.alwaysscreen.com.

Landlords to get automatic police updates

The Illinois town of Rockford is about to launch a new landlord registry that will alert property owners of any 911 dispatches made to their rental. The Rockford Apartment agency said they hope the new system will help “bring stability” to neighborhoods, and help landlords to make better-informed decisions about the tenants residing in their rental properties.

In order to register for the alerts, landlords will have to submit their contact information and addresses of their rental units. Those who do not comply could face fines by the city.

 

The way it works is once emergency services are dispatched to a property, the police will update the database and send emails to landlords. Both residents and property managers are hopeful this service will aid them in better managing their tenants.

 

Landlords will know if the police are called to rentals

For this and more information about screening prospective tenants, please visit ATS Inc.’s website today!

Why your tenants are moving out (And how to get them to stay)

Retaining good tenants is a great way to save yourself a lot of money. If you have a mortgage on your rental property, pay for advertising , cleaning and painting services, then you know vacancies can get quite expensive.  You need to find out if losing a good tenant is worth several hundreds or thousands of dollars from your bottom line.

 

Save money by retaining tenants

 

1. If you have reliable tenants who give you 30 or 60 days notice without reason, follow-up with them in person to find out why they are moving, and determine if there’s something you can do to change their mind.

 

2. If they tell you the rental is too small, perhaps you own another property with more square footage that you can offer when it becomes available. Or, offer to provide a large, secure shed on the property. Better yet, offer to add more shelving to closets and garage areas.

 

3. If they tell you they want something “newer”, offer to put some money into those upgrades you’ve been avoiding.

 

4. If they tell you the rent is too high, perhaps weigh the pros and cons of lowering it. Offering a $20/month discount for one year might be enough incentive for them to reconsider. After all, moving is expensive and a lot of work. Your tenant might be inclined to stay put in order to save a couple hundred bucks, rather than shell out thousands on a deposit, movers, and setting up utilities. Plus, even if you lose $240 for a year, it still could be much more if you have a vacancy for 1-2 months.

 

For this and more landlord tools, visit ATS Inc.’s website today!

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}

SF Landlords Sentenced to 4 Years In Jail

Last month, two married California landlords were sentenced to four years in jail after being convicted of several reckless acts aimed at evicting and scaring their tenants. The crimes took place over a two-year span, and led the couple to become dubbed, “Landlords from Hell.”

The district attorney in San Francisco said the landlords harassed their tenants by cutting off power and phone service, changing locks, and illegally removing and/or destroying their belongings. They even were charged with soaking the victims’ clothes and electronics in ammonia and using a chainsaw to cut a hole in the floor of one tenant’s unit. They also severed floor joists in hopes of making the building unsafe, and hoping it would ultimately it collapse under the tenants.

The duo also sent fraudulent emails pretending to be their victims. The emails were aimed at making it appear as though the tenants were threatening to kill the landlords’ children.

Authorities say the motive behind the attacks was all due to the landlords wanting to renovate the rental units and sell them off individually. However, California has strict laws regarding the harassment of tenants by landlords, and prohibits the eviction of tenants without just cause.

For more landlord tips or to get the best background check, visit ATS Inc’s website today!

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What people REALLY want in a vacation rental

This week, we’ve discussed how to pick the ideal location for those real estate investors interested in buying a vacation home, and what costs to consider. Today, we’ll examine what qualities tenants are looking for in a great vacation rental.

Privacy

Many people will choose a rental home over a hotel because they don’t want to be away from the crowds. Vacation homes without noisy elevators or private pool can be quite attractive to renters looking for some peace and quiet.

Space

Offer as many sleeping areas as possible without making the home too crowded. Pullout couches, trundles, bunk beds are great ways to increase the likelihood of renters because you can appeal to bigger-sized groups. Some people also prefer a rental property with a fully functioning kitchen so they can cook their own meals, or an outdoor space where they can barbeque and let their children play.

Renters like extra beds in vacation properties

Amenities

Vacationers want to hit the “easy” button when they arrive to a retreat for several days. So, having on-site laundry, free wi-fi, functioning kitchen appliances, and good parking are all big plusses. Also, being near a bus route, bike trail, or having a community gym can be very attractive property features. The more qualities you can offer, the more likely your rental will have high occupancy rates all year long.

Visit our homepage today to find out why ATS Inc. is the best background check choice for landlords, property managers, real estate investors and agents.