Most investors are interested in improving the value of their asset over time. Investors typically seek both capital growth – I.e. turning a profit when they want to sell – but also maximum rental yield and minimum vacancy whilst holding the asset. The best way to do this is to create maximum appeal for prospective renters in the area.
But this can be tough to do, especially in suburbs or cities that are flat, facing oversupply (too much choice for renters, which pushes rent rates down), or perhaps aren’t offering the property type that rental seekers are looking for in that area.
Many different home improvements can be made to the property to increase its appeal and functionality to renters. Today the team at Property Correspondent offer up some innovative ideas to make your property stand out from the pack in pursuit of the best quality tenants looking in your area.
Houses – Install a New Garage Door
This is a big one. Older garages often appear tired to renters and older garage doors often lack the security level needed to protect the tenants’ vehicles being stored. Garages and sheds should be in good condition to allow the home to look maintained. The garage door is one of the main features on buildings that influence the aesthetics of the home and the good news is there are many tools available to design your own shed or garage.
There was a time when many people associated words like “trust” or “estate” with wealthy people, with the belief that only the rich should be concerned about who should get a hold of their assets when they pass on.
These days, however, more and more people are becoming aware of how important estate planning can be. Whether or not you have a huge house, plenty of cash in the bank or a massive enterprise is immaterial. With estate planning, you get to choose who gets what, even if it’s just a tiny home, a little bit of cash or a few trinkets here and there. At its very heart, drafting a will or setting up a trust is all about protecting your loved ones.
Of course, trusts and estates need to be administered when the time comes. With estate and trust administration, the directions in a will or trust can be routinely implemented, all loose ends pertaining to debts and taxes tied up and the affairs of the whole estate managed.
Here are some of the things you need to know about trust and estate administration.
Your curb may be close to the drain, but don’t be confused: Putting money into curb appeal is in now way throwing money down the drain. Homes with better landscaping sell for a higher price — and few people would ignore the kind of value it can add to your home. Depending on where you are and how much landscaping you do, you could be talking about tens of thousands of dollars. Here are a few landscaping trends that increase the value of your home.
The low-maintenance, low-water and eco-friendly yard is not a myth. While a thick, green lawn is always appealing, you can always mix things up with xeriscaping elements or native plants to bring out the best in your yard. Sustainability has become a keyword in the landscaping industry. Clients want to see yards that add to the natural biodiversity of their neighborhoods. Another benefit? A yard that’s easy to keep up is a good selling point for potential buyers.
“Working From Home” is a hot topic these days, and being good at it is far easier said than done. I would know, because for the majority of my 10 years in the real estate industry I’ve worked from home.
Fortunately, I’ve picked up some great tips from friends and have adjusted my habits to find what works best for me.
At a high level, it’s all about mindset — like starting a new job and learning to integrate into your new environment. Anyone can work from home, but if you don’t follow best practices, you can easily fall prey to distraction.
If you do it right, however, you might just find you increase your productivity with great success.
Below are some of the best practices and tips I’ve implemented. Please feel free to share with your peers.
1. Set Your Mindset
Take control of your environment. Focus on your goals as a habit, and learn to keep yourself in check. I try to leave my house early every morning and prepare my mind for the workday ahead in either my house or my mobile office. While it’s easy to get distracted by the dishes or laundry, remember: You don’t do house chores while at the office; don’t do them when working from home.
We may be stuck at home but that doesn’t mean we can’t celebrate spring with some outdoor fun!
Even if you’re not a cook, there are a ton of things that can be thrown together with minimal time and effort. There’s no better time to start eating more vegetables and fruits with so many in season to choose from and the time to experiment!
Start Out With Some Grilled Fruit Kabobs
Fresh fruits are packed with antioxidants and a great way to satisfy your sweet tooth. Grilling fruit intensifies the flavors and brings out the fruit’s natural sweetness. Some great options that hold up well on the grill are bananas, pineapples, peaches, and melons. Cut fruits into large pieces to avoid losing any small pieces through the grates on the grill. You’ll know it’s done when the middle of the fruit is hot and it has thick, dark grill marks.
So you just signed the final paperwork and closed on your very first home. Congratulations are in order as this is a huge milestone to achieve in your life! Now that the stress of house hunting, negotiating and providing documentation has come to an end, it is time to take a sigh of relief knowing that you are now a homeowner. While it might be tempting to dive right into picking out paint colors, furniture, decor and personalizations that will make your new house feel like a home, it is important to make some responsible financial preparations first.
Make higher payments
Many first-time home buyers have loans with PMI (private mortgage insurance) included in their monthly payment. PMI is usually issued by the bank on a mortgage where the down payment is less than 20%. PMI is an additional payment or insurance that the bank collects to protect itself from a potential default on the loan. Typically a 20% down payment is required to secure the property as an asset for the bank in the event of a foreclosure. Depending on your type of mortgage, PMI will come off of the monthly payment once you have hit the 20% equity milestone.
As agents and brokers try to make sense of the new normal with social distancing regulation in place, customers will increasingly look to you for solutions and support as they navigate the possibilities of buying and selling a home.
3D scans and video walkthroughs, virtual staging and video emails, social content and, most of all, lots of clear communication are just a few of the ways you can help your clients find home as we ride out these turbulent times together.
If you’re a real estate agent suddenly tasked with the challenge of transforming a high-touch business into a fully remote, digital operation, here are six ways to make it work.
Objection: “I’m too nervous to buy a house right now.”
Everyone is looking to make some extra money these days. If you have a rental property at your disposal, why not turn it into a VIP Airbnb and make some extra cash?
Airbnb’s are becoming extremely popular places to stay for travelers. They offer a homier experience than a hotel, where renters usually have access to not only a room to sleep in but to a living room and kitchen. Airbnb’s can also accommodate larger groups of friends traveling together at a fraction of the price of hotels. And with it being so easy to find a deal on a great Airbnb, it’s no wonder more and more people are choosing to book an Airbnb over a traditional hotel.
Getting set up is easy. Start at Airbnb.com.
Begin by answering a few basic questions about your property listing. You can list it as a house, apartment, bed and breakfast and more. Airbnb allows you to post your listing free of charge.
The beginning of 2020 debuted with news of a pandemic threatening the world’s population. As the coronavirus outbreak continues to unfold, economic activity is being slowed down while uncertainty looms over many sectors. The real estate market is one of the areas not immune to the crisis, facing new challenges as the situation evolves.
At the beginning of the year, the real estate industry was off to a good start, despite limited inventory and affordability issues. Low interest rates fueled both existing home sales and new home sales in January, marking the second month of year-over-year increased activity.
However, the coronavirus hit just in time for the spring season which was supposed to be the peak time for house hunting and selling. In the midst of the crisis, there may be some reluctance to buy or sell until the crisis is contained, but as of now the real estate business is still running and people’s need to move has not entirely changed.