KNOW THE EXPECTATIONS BEFORE INVESTING!

March 31, 2019
One of the most challenging parts of property management is working with an investor who doesn’t have funds on hand to make repairs or doesn’t want to re-invest in the rental. As the property manager, we are responsible for following laws set forth by local, state and federal governments. We are also responsible for leasing to tenants a safe & habitable rental and also maintaining the condition that tenants have leased.

So many times, we have investors who dispute the process or the expenses incurred during the month and we waste a lot of time having to work through the process of explaining why they have expenses or trying to convince them that if they’d just listen to us, and allow us to do what we recommend, their rental would be better maintained and retain tenants which reduces turnover costs.

Our office proudly arranges for preventative maintenance which is proven to reduce reactive maintenance. And, we know that expected maintenance can happen during nights or weekends when emergency maintenance costs can be much higher. Although some tenants do not like when we schedule entry for maintenance, they do like to see that we are taking care of the rental they live in and pay for each month. Maintenance is the key to happy tenants and when Investors understand the big picture, it becomes the key to their investments as well.

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By Lori Todd October 8, 2021
Although you may be renting a place for a short time or a year or two, having a rental can feel so temporary. There are many ways to create a more permanent feel without spending a bunch of money or making unapproved alterations. Start with decorating. One of the easiest ways to make your rental feel more homey is to decorate and accessorize. By adding plants, candles, throw pillows and other home decorating items, you can quickly create a warm and inviting space. If you're not permitted to put nails in the walls, you can use products that are temporary, such as double-sided tape or non-sticking hangers for wall art. In addition to the inside, you can also consider adding some decoration to the exterior. Whether it's only a simple welcome mat or a welcome mat along with a door wreath, flowers or holiday decorations, adding to the exterior can make your entry more inviting and cheerful.
By Lori Todd September 26, 2021
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By Lori Todd March 31, 2021
Combining the effects of the pandemic with the housing shortage, the rental market is as tough as the sales market right now. We are experiencing the highest retention in history with tenants choosing to renew their leases rather than move to a different rental. The housing shortage has also caused the rental rates to rise, some seeing more than 5% annual increase. What does that mean for the future rental market? Some forecasting shows that the rental market will continue seeing rental rate increases for the next few years while some believe the market is due to level off in the next year. Until local, state and federal governments can help the private sectors in creating more affordable housing and less government restrictions, Bloomington will continue to struggle with the high cost of living. Although it's a Seller's market right now, it may be a good time for Tenants to consult with a Realtor to see if it is a good time to consider purchasing. Studies show that lifetime wealth is substantially better for those who own real estate versus those who have rented. To learn more, contact our office for a free consultation.
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