When you decide to become a property manager with tenants, there are multiple lifestyle considerations such as smokers, handicap accessibility, and pets. Many leases will specify stipulations as to whether or not a tenant can have pets. While many times having a no pets clause and enforcing it can be pretty straightforward, there are some […]
When it comes to selling anything, presentation is key. The same applies for renting out property. No one wants to rent a shabby apartment or house that looks like it needs more than just a little TLC. There are many DIY options for fixing up your rental that are budget friendly and just as effective […]
Mold is a common issue in many rental properties, especially in high humidity and flood areas. Depending on the state, there may be mold laws to adhere to when renting out property. While not all mold is toxic, some can cause health issues which is a liability and all mold causes damage to the property […]
When managing rental properties, pest control is vital to maintaining the value of the property. When left unchecked, pest infestations can cause a slew of problems. Not only is having a pest infestation unsanitary it can lead to legal issues if not handled immediately. While some pests are simply annoying, there are some that are […]
When you manage one or more properties, you want to cover all of your investments with insurance and warranties when it is in the best interest of the property. While it is usually required for a property owner or landlord to carry homeowners insurance on a residential property, you are not required to carry a […]
There are many perks to renting an apartment, one of which is the amenities such as the pool if the apartment complex has one. If you rent an apartment in a complex that has a pool, there are rules of etiquette you will want to follow to keep the pool a clean fun place. After […]
Renting an apartment isn’t just a solution for those just starting out anymore. Many people are still choosing to rent apartments even if they can buy a home of their own. This is due to the significant savings and perks that come with renting an apartment that you wouldn’t normally get when renting or purchasing […]
Most property management companies that happen to do business in one of the states where marijuana has been legalized has likely come up against an interesting conundrum: Do I have to allow legal marijuana growing on my property?
Here at RentPost, we’ve been tracking the movement of capital towards rental investments for a long time now. There have been many signs that the rent industry is the next booming sector in real estate (and with some luck, that boom won’t turn into a bubble). But this month, some new insight has come out on just how strong this market can ride.
Data tracker CoreLogic released a report that, among other things, points to a $100 billion valuation of the market for foreclosed homes turned into rentals. Yeah, $100 billion. And that’s for this year alone.
The number of seniors applying for reverse mortgages is going up, according to a new study by MetLife. The study finds that not only is that number going up, but seniors are demanding reverse mortgages at younger ages.
The average age of seniors using reverse mortgages is 73, but 46% of homeowners considering it are under age 70.
Essentially, more seniors are asking for reverse mortgages earlier. What does this mean?
I recently came across an article that uses a mnemonic device to help folks develop new ideas to innovate products and processes across all fields of industry and life in general. The means for doing so, that I will briefly discuss below, can be found in more depth in the original article, but I’ll apply it here to property managers specifically. So, I encourage readers to visit the original article to explore the psychological explanations provided.
Here’s the mnemonic device:
S = Substitute?
C = Combine?
A = Adapt?
M = Magnify? = Modify?
P = Put to other uses?
E = Eliminate?
R = Rearrange? = Reverse?
I was just speaking with a property manager, and somehow we ended up having a lengthy discussion about the seemingly accelerated effect that technology has on business and life in general. Before dismissing this as “duh,” (for lack of a better term)…[re]consider a few specific words I included in this otherwise over-generalized statement: “…accelerated effect that technology has on business…”
This, in my mind, presents a dynamite topic of discussion, and after sharing my thoughts with a handful of clients, prospective clients, and colleagues…, I’ve realized that others recognize this topic’s relevancy, regardless of their independent opinions on subject.
These recent conversations have brought new depth to the issue… Some folks agree with my original thesis, others do not. Out of those who do agree, not all of them like these changes. Of those who do not like the effect of new technology on business, some believe that the problems created can and will be fixed in time with further innovation. And so on…and so forth.
Read on for our conversation and further analysis…
Some evening reads to keep property managers and property investors in the know on what’s shakin’ in the world of income property. As tenants go virtual so must property managers and landlords; take a look at the future offices of property managers. Check out the debate in New York State regarding a potential cap on […]
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Home ownership is the pinnacle of the American Dream. Our current housing crisis illustrates the societal and institutional failure of protecting individuals trying to obtain this goal. Homeowners facing financial difficulty are frequently unable to negotiate with their mortgage servicers, and often times must file for bankruptcy in a desperate last attempt of maintaining their home. Due to mortgage servicing and the “slicing and dicing” of mortgages, homeowners often have no idea who actually owns and services their mortgage. Recent decisions in Nevada and New York, where federal judges declined to accept mortgage lenders’ proofs of claim, indicate an approaching tipping point. Several judges no longer embrace a lenient view when dealing with mortgage lenders and servicers. One Judge’s comment regarding the ongoing issues with mortgage holders and servicers filing inadequate proofs of claim sums up the issue quite nicely: “Is it too much to ask a consumer mortgage lender to provide the debtor with a clear and unambiguous explanation of the debtor’s default prior to foreclosing on the debtor’s house?”
Recently, our congress successfully passed new legislation, courageously recomposing century-old U.S. financial rules. It seems our buddies in D.C. have acquired great economic know-how, unseating 80 years of financial thought in a single, 24-hour session. The method of attack dealt with added regulation in derivative trading, and more specifically – Credit Default Swaps. Today, I will explain CDS’s, their influence on U.S. real estate, and how this new legislation will drastically affect everyone from the mighty real estate investor to the common renter. So, get involved and find out how this revolution to financial rules will affect both your personal and professional world
The trend is to leave all fingers pointed to Fannie Mae and Freddie Mac, the two government sponsored companies who repurchase and are in control of nearly 90% of the mortgages in our country. In essence, they are the driving forces behind mortgage lending in this county. However, to blame mortgage repurchasers is a very superficial approach, and shows a very superficial understanding of the economic factors influencing lending and banking. Here’s the true story, and this tale starts in September, 2001, focusing on the actions of the less-than-capitalist aspect of our supposedly capitalist economy.
Classic business philosophy teaches that a great part of survival and subsequent success lies in an operation’s ability to reduce mistakes. The cost of repairing the mistakes is inversely proportional to the amount of profit potential of the operation. In other words…”Mistakes Kill the Profit Margin!!!!!”
As landlord’s, we don’t want to do damage to the precious profit margin we fought so hard to nurture. A landlord’s profit margin struggles every day to survive, grow and flourish in a sea of predators, competitors and government regulators. Below are the top 10 threats to you thriving profit margin.