Posted on June 17, 2022 by Rudyard
Last updated: Jun 17, 2022 17:05

The Considerations When Looking for Real Estate in Northwest Denver

Northwest Denver is a great place to purchase real estate. The closing costs are higher than in other parts of the city, but it’s well worth it. There are several things to consider when looking for Northwest Denver real estate, and we’ll outline them here. Then for details regarding the cost of living in Denver, you might like to go to https://northwestdenverrealestate.com/cost-of-living/.

Location

When you’re looking for Northwest Denver real estate, it’s important to consider the location of the property. You’ll want to think about things like the commute downtown, the schools in the area, and the crime rate.

You’ll also want to consider what type of neighborhood you’re looking for. Do you want to be in a quiet, family-friendly neighborhood or a more vibrant, urban area?

Variety of Homes

The next thing to consider is the type of property you’re looking for. Northwest Denver has a wide variety of homes available, from single-family homes to condos and townhomes. You’ll need to decide what type of property you’re interested in before you go too far into your search.

Consider whether the type of home you are looking to go for will prove desirable to others when we come to sell it. If there is something that puts you off that is difficult to put right then it may be the same when you come to sell it. Superstitions can be hard to deal with. Is a certain house number, for example, a lucky or unlucky number? If the roof is not of a material that will last, you will soon be repairing it or passing on that expense to others in the future.

Closing Costs

Closing costs are the fees that you have to pay when you buy or sell a house. This includes the cost of the title search, the appraisal, and other charges. You will also need to pay for the real estate agent’s commission.

Your actual costs may be higher or lower depending on the house you buy and the agent you use. Talk to your real estate agent about what you can expect to pay in closing costs. They can give you an estimate of the fees you’ll need to pay.

Down Payment

The down payment is the money you put down when you buy a house. This is usually 20% of the purchase price. If you’re not able to put down that much, you may still be able to buy a house, but you’ll likely have to pay private mortgage insurance (PMI).

PMI is an insurance policy that protects the lender if you default on your loan. It allows people who can’t afford a 20% down payment to still buy a house.

Your monthly payments will be lower if you have a higher down payment. This is because you’ll have to borrow less money from the bank.

It pays to save well before considering buying a house. Then buy well, in a growing economy, so that your investment gives you sufficient funds for the next property.

Budget

Another important consideration is your budget. Northwest Denver is a pricier area, so you’ll need to make sure you have a realistic budget in mind before beginning your search. Keep in mind that closing costs will be higher in Northwest Denver than in other parts of the city, so factor that into your budget as well.

Relocating does not have to be about a bigger property. When it is a move to a different area, we sometimes have to downscale to allow for the higher cost of living. Consider the size of property you can afford to stay well within your means when taking into account the other costs we have talked about. Consider that some of the costs might rise, depending on what the economy is doing. A larger property will cost more to heat, for instance. Once you’ve taken these considerations into account, you’re ready to start searching for Northwest Denver real estate to find the perfect property for you and your family.

Posted on June 3, 2022 by realtyWW
Last updated: Jun 3, 2022 07:45

Five Property Valuations Methods

There are many factors that need to be considered when it comes to property whether its residential or commercial related, if you are deciding whether to purchase or rent or sell a property.

Having an understanding of the ins and outs of the property market and where you are situated will be of great benefit to you. You may be asking yourself, how or where do i even begin? Thats where a property valuer comes into play, an independent expert specialsed in the field of all property related purposes. A valuer is appointed to best suit your purpose to establish the fair market value as well as any other factors that come into play.

This article will breakdown the five main methods used in a property valuation. These include:

The comparison
Profits
Residual
Contractors
And investment

A valuer can use more than one of these methods when conducting a valuation to calculate the true market value and this all depends on the property type aswell, being either residential orcommercial.

Comparison Method

Most commonly used, the comparison method can bhe applied to value most property types, such as houses, shops, offices and standard sized warehouse. For a valuer to conduct a proper valuation there should be multiple,recent letting/sales of the properties that can be compared to within a stable market.

Our reports are specilaised, taking into account the best comparable factors, selected and analysed by a highly qualified professional. Adjustments are therefore able to be made for the different properties so an estimation of the market value can be established.

Profits Method

If there are no comparable rental/sales available then the profits method is applied. This type of method is used for pubs,hotels and nursing homes where a business property results will have a lack of variables to compare to. The way in which the method is used is estimating the gross profits and deducting any work expenses that are made, this will exclude rental payments. When the calculation is determined the amount which is called ‘capital’ is to be shared between tenant and landlord, which is know as the divisible balance.

Residual Method

Property that is valued for its developmental potential or vacant land thats current use will change to become more profitable. Although this method can be used at times it can be inaccurate due to a number of inputs as well as determining the costs which can be a challenge with the tenancy to change over time.

Contractor’s Method

All depending on the property and situation, can this method also known as the cost method be used if the above mentioned methods cannot. Due to the unreliability of this method, its referred to as the “last resort” method.

In other terms, if a property has a specialist nature( no market transactions occurring) the contractors method assesses all costs that may provide a modern equivalent property, its then adjusted to reflect the age of the property.

Investment Method

A method used to determine the market value for freehold/leasehold property. Due to its potential to generate future income. This method is used for the main forms of the property, put simply a tenant is providing the landlord a return on their investment from purchasing the building(the capital lost)

When using this method to find the revenue of the comparable property transactions to analyse the sales and letting of the property. To calculate the NPV (net present value) of the property by the profit which can then be applied to any future rental income. And then discounted back to the present day. This will give the valuer the indication of the building worth as it stands currently.

When you have a clear understanding of these top methods used for any property valuation is essential to help you determine what service is best suited to you. If you are a buyer, a property valuation can reduce the risk of you purchasing a property for more than its true value. For sellers, there are multiple reasons why you should require a valuation and the most commonly would be to determine the potential selling price as well as gaining an understanding of the opportunity the property has to make improvements before selling which will increase the potential to add value to the property.

Its important to know when would be best to sell due to the fluctuating market.

With many different reasons and situation when it comes to your property a valuation is highly recommended whether you decide to sell, rent or buy a property. Seeking out a property valuer that is highly trained and specialised in property will ensure you receive the best service and valuation report to help with any informal decision you may have. At the end of the day, property will be one of the biggest assest you will own so its important you have the right team in your corner

Author bio

Lesile King is NT’s top leading industry expert in all property related purposes. Lesile’s experience in the field of both residential and commercial property has seen her utilise her knowledge to led numerous courses, and guest lecture at various educational institutes around Australia. With more than 30 years’ experience we are glad to have Lesile apart of the territory valuers team here in our Darwin City office.

Posted on May 24, 2022 by realtyWW
Last updated: May 24, 2022 15:30

Who is Dean Graziosi?

If you are reading this article, you are probably interested in motivational speaking, entrepreneurship, real estate, and becoming successful. It takes time to get to where you want to be in life but once you are there, it is worth every bit of hardship.

One of the people successful enough to achieve everything they set out to is a person named Dean Graziosi. By having the right mindset and drive to achieve what he wanted, Graziosi has become someone you want to know about and hopefully, learn from.

As an investor, a world-class real estate expert, and an entrepreneur, Graziosi is someone who strives for all the same things you strive for and that is a success. The only difference between you and him is your mindset.

If you want to know more Dean Graziosi information, keep reading.

The Beginning

Graziosi grew up in New York with his family of five. During his early years, he grew up poor, moving around from place to place more than twenty times by the time he was nineteen. He worked hard and did not let these hardships stop him from becoming successful.

When he finished high school and got his diploma, he made the decision not to attend college. A true entrepreneur, he made a profit flipping cars. Soon, he got into the real estate game and has not looked back since. To this day, more than 25 years later, he is still doing everything he can to learn, grow, and become a better version of himself.

What does he do?

Graziosi is an entrepreneur, a real estate expert, and an investor. One of his biggest passions in life is to help people reach their full potential in any way he can. He often provides training to those who want to learn about real estate or someone who wants to become a better version of themselves just like he does.

He was not born with a silver spoon. He had a difficult life and once thought the life he wanted was out of reach. Now that he knows it is not, he educates others so they too can understand how to reach their full potential.

He documented the habits of millionaires and created a blueprint for those wishing to become successful too.

You may know him from those commercials

Depending on how often you watch television, there is a chance that you might have seen one or two of his late-night commercials. He has been on your TVs for over 15 years, educating the public on real-estate investments and using real estate to make a profit.

Or one of his books.

Graziosi is known as a New York Times bestseller. In them, he talks a lot about how he used his mindset to shift the direction of his life. He also teaches you, the reader, the best ways to invest in real estate. He has sold millions of copies all over the world.

He is a top author and educator on all things real estate and investing. He provides a list of instructions, helpful tips, and support for those who are looking to become financially stable. He also shows you how important your mindset is if you want to be successful.

If you want to learn about how self-help books like these can be helpful, click here.

What are his main teachings?

One of his main pieces of advice is to follow through with your actions. I can say firsthand that I am guilty of saying that I will do something but then I faltered last minute. It is usually around exercise. I will say that I will work out first thing in the morning and then before I know it, I am getting ready for bed and saying the same thing. Most of the time, the cycle repeats.

Graziosi helps you create manageable habits that ensure that whatever you decide to do, you have a system in place that helps you follow through with your tasks.

He is also a big supporter of the idea that small changes are the steppingstones for greater success. Sometimes slow and steady, or in this case, small and steady can ensure that you are creating habits that are both manageable and will last. Let us go back to my example of the gym story.

If I work out once and then do not do it again for six weeks, that is not me really forming any sort of habits. But if I work out for twenty minutes every Monday, Wednesday, and Friday, then I am creating a habit that I can follow through with. All his teachings can be found in his bestselling books or at a public speaking event.

He and Tony Robbins are partners

He and Tony Robbins shared one of the largest online product launches to date where they provided courses that taught people everything that they needed to know about being successful. This program was called Project Next.

He likes to give back

Graziosi loves to give back to those in need since he knows what it is like to struggle in life. He founded an organization called Operation Free Home so he could help those struggling with homelessness or home insecurity. This foundation help provides a safe living space, free of charge, for those in need. He also likes to donate to several different disaster relief groups that help those facing a natural disaster.

He also works closely with Feeding America to help families struggling with food insecurity. In addition to that, he has helped build several schools in Africa and donated to stop human trafficking through a program called Operation Underground Railroad.

If you are looking to make some changes in your life and do not know where to start, Graziosi’s methods might be the way to go. While I cannot say for certain they will help you, I can say that a lot of people love him and find his methods helpful in achieving their goals. If you are interested in learning some of these techniques, I suggest doing some research online or reading one of his books.

What do you have to lose anyway? If it is not helpful, then at worst you learned a lot. And if it is helpful, they will be achieving everything you dreamed of. Win-win.

Posted on May 21, 2022 by Rudyard
Last updated: May 21, 2022 12:48

5 Different Roles and Responsibilities of Property Managers

Property management is an activity that is important for a property manager or landlord to understand how their property is being used. Property managers are responsible for what happens inside the property and should ensure that their property is being used appropriately, e.g., that it is not being used for illegal purposes, or illegal occupancy, which could put the property at risk as well as the safety of the community at large.

The Property Manager is a critical role in managing a property’s day-to-day operations. They manage all the daily tasks of the property to ensure that it is operating smoothly and that the property is being taken care of in the most competent and cost-effective manner possible.

5 Different Roles and Responsibilities of Property Managers

1. Repair and Maintenance Services

Property maintenance services take on all aspects of the home. Options for service include full property maintenance, plumbing, electrical, lawn, and garden care, and exterior maintenance such as mowing, trimming, and landscaping.

2. Rent Collection

The collection of rent is often one of the most difficult aspects of the landlord-tenant relationship. To collect rent, a landlord needs to be able to prove that the rent was timely, that the tenant owes the rent, that the amount of rent is in line with his lease, and that the amount is still due. A property manager can help you collect the rent from your renters.

3. Utility Payments

They are also responsible for providing utility services, such as electricity, water, and sewer services, to the public. They are also responsible for billing and collecting payments for these services.

4. Property Advertisement

Property listing and advertisement are also the main aspects of property management. They differ from general print ads in that they are tailored to specific real estate properties rather than being a catch-all advertisement for a broad class of property. At times, a commercial real estate advertisement can communicate a sense of urgency and can be effective in getting a property sold quickly. The property advertisement can be for buying, selling, renting, leasing, or other purposes.

5. Finance and Accounting

Property finance and accounting management is the combination of property-based finance and accounting. It is a broad discipline that provides financial reporting, tax reporting, budgeting, and other managerial accounting services. It is also concerned with tax administration, corporate governance, business planning, and other financial management aspects.

Posted on April 20, 2022 by Ann Bugejar
Last updated: Apr 20, 2022 00:10

Can Web Directories Help Generate Estate Agents Leads

If you’re an estate agent, then chances are that generating leads is one of your top priorities. And while there are many different ways to generate leads, one method that you might not have considered is using web directories.

So, can web directories really help generate leads for estate agents? Let’s take a closer look.

What are web directories?

In a nutshell, web directories are online lists of websites that are categorized by topic. People can register their business with these directories, providing essential details such as company name, website, opening times, services offered, and more.

Some web directories are general, while others focus on specific niches, such as businesses in a particular location or businesses that offer a specific service.

When people are looking for a business online, they will often turn to web directories as a starting point. This is because web directories make it easy to find what they’re looking for. For example, if someone is looking for an estate agent in London, they can simply visit a web directory that focuses on businesses in London and browse through the list of estate agents until they find one that meets their needs.

Do people still use web directories?

The short answer is yes, people still use web directories, especially to find local businesses, such as an estate agency. While there are some who argue that web directories are no longer as popular as they used to be, the reality is that they can still be a valuable resource for people looking for businesses online.

Of course, it’s important to bear in mind that not all web directories are created equal. Some are more popular than others, and some are better at promoting businesses than others. But if you choose a good quality web directory, then there’s a good chance that it can help you generate leads for your estate agency business.

How can web directories help generate leads for estate agents?

There are two main ways that web directories can help generate leads for estate agents. First, submitting to web directories can help improve your website’s SEO. The majority of web directories provide a link to your business’s website, known as a ‘backlink’, which search engines essentially see as a vote of confidence, helping your overall SEO and rankings. However, search engines such as Google don’t value these links as highly as they used to due to people abusing them for the sake of gaining a backlink. This doesn’t mean they aren’t worth it. It is hard to find a website in the top 5 search results that don’t utilise backlinks from web directories.

The second way that web directories can help is by giving you exposure to a whole new group of people. When you submit your website to a directory, it’s like getting a little bit of free advertising. People who are browsing the directory may not have heard of you before, but they’ll see your website listed there and they may be intrigued enough to click through and check out what you have to offer.

So, if you’re looking for new ways to generate leads, don’t forget about web directories! They can be a valuable tool in your lead generation arsenal.

So what are all the benefits of using web directories?

Increased Brand awareness – By submitting your website to web directories, you can help increase brand awareness for your business.
Local SEO – If you submit your website to local directories, you can help improve your local SEO and rankings in search engines.
Improved credibility – Some web directories also allow customers to leave reviews. This can be beneficial as it helps build social proof and credibility for your business.
Greater online presence – By having your website listed in multiple directories, you can help improve your overall online presence and visibility.
Referral traffic – People who click through to your website from a directory are considered referral traffic. This can help increase traffic to your website and potentially lead to more sales and conversions.
More business – Ultimately, the goal of using web directories is to generate more leads and sales for your business. If done correctly, submitting your website to web directories can help you achieve this. People will either navigate to your website or find your contact details on the directory to get in touch.

What are the best web directories for Estate Agents?

There are numerous web directories out there, but not all of them will be relevant or suitable for your estate agency business. It’s important to choose a directory that is popular and relevant to your industry

Here are 10 of the best web directories for UK estate agents:

Rightmove
Zoopla
OnTheMarket
PrimeLocation
Yelp
Google My Business
Bing Places for Business
Foursquare
Yellow Pages UK
192.com

Yes or no to listing your estate agency on web directories?

There are pros and cons to listing your estate agency on web directories. On one hand, it can help improve your SEO, brand awareness, and new leads, and give you exposure to a new audience. On the other hand, it takes time and effort to submit your business to multiple directories, maintain them, and there is no guarantee that you will get any leads from it.

We at Agent Extra have our business listed on a number of web directories and would personally recommend you do the same. At the end of the day, it’s up to you to decide whether or not listing your estate agency on web directories is worth it.

Posted on April 10, 2022 by Rudyard
Last updated: Apr 10, 2022 05:15

How to Prepare for the Upcoming Housing Market in Mississauga

The housing market Mississauga situation is always changing, and it can be hard to keep up with the latest trends. If you’re planning on buying or selling a home in the near future, it’s important to be prepared for the upcoming market. In this blog post, we will discuss some of the things you need to know about the Mississauga housing market. We will also provide some tips on how to get ready for it! That said, let’s get started!

The City of Mississauga at a Glance

Mississauga is a city in Southern Ontario, Canada. It is situated on the shores of Lake Ontario in the Regional Municipality of Peel, bordering Toronto to the east. With a population of over 700,000 people, it is the sixth-most populous municipality in the Greater Toronto Area and the third-largest city in the Golden Horseshoe region. Mississauga is a suburb of Toronto and an exurb of Hamilton. The city has a land area of 281 square kilometres (108 square miles), making it Canada’s sixth-largest municipality by land area. As of 2016 census data, Mississauga had a population density of 2739 people per square kilometre (7060/square mile), making it the fourth most densely-populated city in Canada. Mississauga is home to a number of Fortune 500 companies, including Canadian Tire, Coca-Cola, Loblaw Companies, and Nestlé. The city also hosts a number of cultural attractions, such as the Art Gallery of Mississauga, the Mississauga Symphony Orchestra, and Celebration Square. The average price for a detached home in Mississauga is $ 950,000. For semi-detached homes, the average price is $ 720,000; and for townhouses, the average price is $ 610,000.

Fortunately, the housing market in Mississauga has been on an upward trend in recent years with the average price of a detached home in Mississauga increasing by 11.0% from 2015 to 2019. For semi-detached homes, the average price has increased by 15.0% over the same time period; and for townhouses, the average price has increased by 12.0%. The trend is expected to continue in 2020.

Now that we’ve taken a look at the Mississauga housing market, let’s discuss some tips on how to prepare for it.

Tips for Preparation

The first thing you need to know about the Mississauga housing market is that it is very competitive. There are a lot of buyers and sellers in this city, so you need to be prepared to negotiate. If you’re not comfortable with negotiating, then you should consider hiring a real estate agent. They will be able to help you get the best deal possible.

Another thing to keep in mind is that prices in Mississauga can fluctuate quite a bit. It’s important to stay up-to-date on the latest trends so that you can price your home accordingly. You don’t want to overprice or underprice your home, as this could result in it sitting on the market for a long time.

If you’re planning on buying a home in Mississauga, you need to be prepared for a bidding war. There are a lot of buyers in this city, so you might have to compete against other offers. It’s important to have your finances in order and to be pre-approved for a mortgage before you start looking at homes.

If you’re selling your home, it’s important to stage it properly. This means making sure that it looks its best when potential buyers come to see it. You should declutter and depersonalize your home, as well as make any necessary repairs. You want potential buyers to see your home as their future home, not just a house that needs work.

All in all, we hope these tips have helped you out! Good luck!

Posted on February 28, 2022 by Ann Bugejar
Last updated: Feb 28, 2022 00:36

How To Support First-Time Buyers: A Guide For Estate Agents

House hunting can be a stressful and challenging journey for first-time buyers. There is a lot to take in, not to mention the financial commitments involved. Being a first-time buyer can be an exciting time. However, there are many things to consider before signing on the dotted line. The housing market is tough, and it’s hard to tell who you can trust. As an estate agent, there are some things you can do to make the process easier for your buyers.

Direct Them To Government Support Schemes

It can be difficult to understand all of the different government schemes available to first-time buyers. However, they are worth looking into. You may be able to help your buyers access schemes they may not have considered before. For example, if you know your buyer is interested in a new build property, you can point them towards the Help-to-Buy ISA. Many of the schemes available make it possible for first-time buyers to get on the property ladder with a smaller upfront deposit.

Help-To-Buy ISA’s typically allow first-time buyers to purchase a home with just a 5% deposit and a loan from the government worth up to 20% of the value of the property, which could be perfect for your buyer’s situation, especially if they’re struggling to find properties in their price range.

Keep In Touch During Their Hunt For The Perfect Home

One of the most important things you can do for your first-time buyers is to stay in touch with them. It’s natural for first-time buyers to be inexperienced in the housing market, which makes them vulnerable to scams and other troubles. One way to make sure they are safe is by staying in touch during their hunt for the perfect home.

You can keep your eye out for scams by checking out listings they’re interested in and pointing out any red flags. If the buyer becomes interested in a home that you know has problems, then it’s up to you to recommend that they continue their search elsewhere or even explore different avenues like renting or living with family before buying. Keeping your eye on their search will help protect them from making an unwise purchase decision.

Talk To Them About Mortgages

A mortgage is the biggest financial commitment a person will make in their lifetime. It is important to talk to your prospective buyers about mortgage options and how they compare to other forms of borrowing.

Many first-time buyers have done their research and still find they don’t fully understand mortgages. As a result, they often make poor choices that cost them more money in the long run. You can assist them in this process by providing them with the resources as a guide to taking out a mortgage and putting them in touch with brokers that can help them get a better deal. To help your first-time buyers make the right choices with their finances when looking for a home, direct them to resources on how to take out a mortgage. They can then learn for themselves and understand what they are getting into.

Show Them Homes In More Affordable Areas

It may be tempting to show your clients the most expensive homes on the market. But, this could scare first-time buyers away. Instead, it’s important to take them to areas they can afford and match their needs and preferences. Showing them homes in more affordable areas will help them figure out what is the best price range for their budget and what size of home they want.

Advise Them On New Developments Being Built

Advise your buyers on new developments being built in the area. When a new development is being built, it’s a great time to buy a house. If you advise your buyers on these new developments, they might find a house in their preferred location and get a good deal. For example, say there is a development that will be finished in six months. You could advise your buyers to wait six months before looking at other houses. In this way, you can help them get the best property for the best price.

Recommend A Reputable Solicitor

One of the most important things an estate agent can do for a first-time buyer is to recommend a reputable solicitor. It’s imperative to have a solicitor on hand who is knowledgeable about property law and will be able to answer any questions your buyers may have.

In the event of any disputes or missed information, your buyers will need someone they can trust to help them through it. They should always feel as though their interests are being protected and their buying process is being handled with care.

Conclusion

As a real estate agent, your job is to help guide first-time homebuyers through the process. Showing them the best options available and making sure they know about their options will help them to find their dream home. You can also help them understand the terminology that they may not be familiar with and what government support is available for them. As a real estate agent, it’s your job to put your clients first and make the process as smooth as possible for them.

Posted on January 27, 2022 by Rudyard
Last updated: Jan 27, 2022 06:53

Reasons Why People Choose Real Estate Careers

Why people choose real estate careers is as varied as the real estate industry itself.

Some choose to enter the field because they have a passion for helping others find their dream homes in Santa Monica real estate.

Others choose to enter the field because they want to make a career in the industry and work for themselves. Some do it for the money, and some for the benefits.

Indeed, there are so many reasons why people choose real estate careers that it is hard to list them all. However, here are some of the more common reasons why people choose this field:

1. The earning potential is great

There’s a lot of money in real estate and many ways to make it. You can be an agent who sells houses, or you can be an agent who sells mortgages.

You can be in property management or construction, or you can focus on appraisals. The list of options is nearly endless; all that’s required is for you to know what you want to do and where you want to end up.

And there are plenty of opportunities for self-employment in real estate as well, including house flipping and other ventures that allow you to make money while working at your own pace.

2. Creativity

Most real estate agents have a lot of freedom to describe property features.

This allows you to be as creative as you want to be when selling a home or commercial space. You can use your creativity to help sell a property by highlighting certain features and playing down others.

3. Sense of Achievement

Selling a property is always a source of immense satisfaction. There is no more incredible feeling than when you know you have helped someone find their dream home or an investor find their new business premises. So always make sure that you should showcase the best suited properties to the buyers and try to close the deal so that it meets the expectation of both the buyer and seller.

4. Rewards and Recognition

Most real estate agents work on commission, meaning that they receive a percentage of the sale or rental price value.

This can be a lucrative job, and the income can increase according to how much money you bring in for your agency. Successful deals will not only give you money, it will also build you a respect in the industry.

Bottom Line

For many people, a real estate career is another way to invest in possible opportunities for the future while having a positive effect on the present.

On top of that, most real estate careers come with excellent security. Someone who works in real estate deals with property and money, which provides a source of job stability that is hard to turn down. There are great opportunities in the real estate for the hard working people. Therefore, real estate careers are often considered a good option for many individuals for several reasons. So, what are you waiting for? Go for it.

Posted on December 15, 2021 by Ann Bugejar
Last updated: Dec 15, 2021 00:24

When Should You Hire a Property Management Company?

Your tenant is late on paying rent—again. They swore that last month would be the last time. Now, you’re faced with a difficult decision: Do you charge a late fee, or consider evicting them?

Situations like these are what make being a landlord so stressful. On any given day, you’re juggling the responsibilities of all your properties, and things are starting to slip through the cracks. Is it time to hire a property manager?

A property manager can take over the day-to-day duties of being a landlord. They look after things like:

Collecting rent
Scheduling maintenance services
Tenant selection
Disputes
Evictions & move-outs
Advertising your property
Tracking & reporting monthly finances

Need a hand with being a landlord? Here’s when you should hire help from a professional property management company:

How Many Properties Do You Own?

Managing one or two rental properties won’t take up too much of your time. But what if you’re dealing with 5 or more units? It seems like you never have enough hours in a day!

The more units you have, the more important it is to hire a property manager. They’ll ensure that all your tenants’ needs are met and that you receive your rental income each month.

The owner of Premier Property Solutions in Winnipeg writes, “When our property managers step in, it gives landlords peace of mind. They no longer have to check their phone at all hours of the day; they can trust that their property manager will take care of things.”

How Far Away Are Your Properties?

If your buildings are spread out across a city (or a state), you’ll waste countless hours driving back and forth between them. Before you know it, you’ve spent a whole day traveling to and from your properties. A property manager saves you the time and expense of visiting your buildings.

Are You Struggling To Find Good Tenants?

When you first meet a tenant, they might seem like the perfect fit for your suite. But how do you know for sure?

Property managers take care of marketing your suite and screening applicants. They know how to properly compare apartments so they can write compelling, accurate, and alluring ads for your properties. Once people start to apply for the unit, a manager will screen tenants using background checks, social media checks, and references.

Can You Afford It?

There’s only one downside to hiring a property manager: it cuts into your profits. You’ll need to pay a set fee for their management services.

The management fee will depend on the company you choose, but you can expect to pay them 6-12% of the rental income. If you can afford this service, it will certainly be worthwhile.

Do You Have Experience?

If you’ve never managed a rental unit before, you might feel like you’re out of your depths. You aren’t sure how to manage things like disagreements between tenants, noise complaints, or late payments. If these issues aren’t managed properly, you’ll end up with a vacant suite, and a hole in your wallet.

Without a property manager, it might feel like your buildings own you. You spend all hours of the day thinking about your never-ending list of tasks and concerns. A property manager can step in and take away some of your stress. Is it time to hire a property management company? Yes it is.

Posted on November 24, 2021 by Dmitri Kara
Last updated: Nov 24, 2021 23:14

7 Easy Ways To Find A Real Estate Agent To Sell Your House

Buying and selling a house is a very time taking task. Finding a perfect real estate agent is the most important decision you will make in this regard. By hiring an agent for your house selling or buying will save you time and effort. A real estate agent evaluates your home property by getting you a perfect buyer for the house.

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