Tag Archives: rental home

New User Questions

Community Amenities

So, a few days ago we talked about different amenities that you should be sure to have on your property for your tenants. Community wide amenities are always good to have because they give your residents a reason to come together while adding a whole other level of appeal to your property. What kind of community amenities should you consider adding to your property?

A community pool is a great idea and definitely a big selling point for people. Maintenance on the swimming isn’t going to be too costly, and your residents will want to stay at your property longer. This is also very appealing for people with children looking for  a new place to lease because kids looooove pools. A pool area is also the perfect place to have an outdoor bar or kitchen! This will totally fly in summer time, and gives you the opportunity to hold community barbecues for your residents.

playgroundIf your property is one where a lot of tenants have children, a playground is definitely something you should consider adding if you don’t already have one. This a community amenity that you won’t cost you a lot to put in place but will make your residents very happy because they’ll feel that your property is a place for the entire family.

If you want to add some recreational space for your adult residents, think about a basketball or tennis court, or even both. This is also a great fitness outlet if you can’t have an on-site gym. You can even hold games and tournaments to bring your residents together!

 

Administrator

To Furnish, or Not to Furnish

furniture

Finding a place that comes furnished is a big deal breaker for a lot of people and can really make your property stand out among the rest.  For someone who is unsure of how long they will be staying in a certain town, renting a furnished place is perfect. There’s no need to buy and transport heavy furniture, so the move is made really easy.

The real question is, should you furnish your rental?

Furnishing a rental home may seem costly, but it does pay off. If you offer your property furnished, you’re automatically entitled to charge more for monthly rent. Basically, the large one-time cost will continue to benefit you.

What furniture should you provide?

For bedrooms, you can provide basic things like a bed, nightstand, dresser, and maybe a desk. In the living room, you can provide a couch or two, and a coffee table. For the dining area, find a simple table with at least four seats.

Don’t think that you have to go out and spend tons buying furniture! Check places like Ikea, and even your local thrift stores and garage sales to find affordable furniture that will look nice in your property. When shopping, try to find furniture that’s simple and neutral, this way your tenant can add their own personal touches and make your property feel like home.

Remember the lease! If you do decide to furnish your property, make sure that it’s included in the lease agreement. Make it clear that the furniture is just an extension of the property, and that your tenant is liable if anything is to happen to it.

Administrator

Avoiding Losses: Top 3 Tips That Will Help You Prevent a Huge Financial Loss When Your Tenant Moves Out

  1. Always screen tenants before they move in.

The first step in making sure that your property is being taken care of is to make sure that you have a reliable tenant. A good way to make sure that you’ve made the right choice is to ask for a reference letter from their previous landlord. A reference letter is more personal than a background check or credit history check (though these are also very important, you can check out a software to look into these here) and it allows the previous landlord to tell you any specific issues that they may have had with the tenant. If your tenant has a history of being reliable you know that they’ll take care of your property and make the rental process easy for you.

 

  1. Make sure the security deposit fits the property.

If you want to avoid spending your own money on repairs once your tenant moves out, make sure your security deposit is sufficient for the property. A property’s security deposit should be based on the size of the property and nature of the repairs that may be needed; a tiny apartment that won’t have a lot of repairs shouldn’t have the same security deposit as a five bedroom house with a pool. If you base the deposit on the nature of repairs you may need to make, you won’t have to dish out as much of your own money once your tenant moves out and it’s time to fix the place up. A larger deposit also gives the tenant the incentive to take care of your property- they’ll be careful so that they can get their deposit back.

  1. Fix things as they break.

When a tenant moves out, a lot of time and money will be invested into fixing your property for the next person. If things are fixed as they break, instead of leaving all repairs for when the tenant moves out, you’ll lighten both your financial and work loads. In fixing things as they break there is less risk of the problem worsening and the financial impact will be significantly lower because you’re not doing all of the repairs at once. Fixing things as they break will also keep tenants happy because they know that you care about the property and about keeping them happy.

FixerUpper