Whether you’re expanding your diverse real-estate portfolio or dipping your toe into investment property for the first time, the hunt for the perfect multi-family property is exciting and overwhelming, especially when properties sell quickly. Hot markets incentivize quick decisions, leading to unforeseen expenses and problems unless a prospective buyer understands how to apply a discerning eye.
The tenant in 2C says the toilet runs continuously. Four people would like to see 4A this afternoon. 1A is upset that 3B has an unreported dog that barks too much. Managing an apartment complex presents unique and constant challenges and time demands. Your phone doesn’t have to ring about any of it. A property management company can handle daily drama and maintenance needs and keep your investment profitable.
Are you a future landlord? If you’re looking for just the right thing to round out your investment portfolio, an apartment complex could be a good fit. When it’s time to weigh to pros and cons of investing in multi-family rental units, it’s best to talk to the people that know the most about it.
You are tired of showing your property to people who do not follow up or pass a background inspection. It’s time to get serious about social media marketing for your rental property. Your old ways of getting the word out about your rental units aren’t making the phone ring as often anymore.
Modern tenants search for rental properties the way they search for everything: online. Whereas many natural leads used to come from advertisements in public spaces, many digital advertisements now perform the same function. When was the last time you saw a tear-away phone number advertisement tacked to a public bulletin board? They aren’t around as frequently as they used to be. Though we still recommend community advertising, you will miss out on an entire market sector if you neglect your online marketing.
It’s time to get your rental property photo-ready! The first step to finding a fantastic tenant for your rental property is to showcase your property with the best advertising possible. Savvy tenants scrutinize the photographs on rental listings for details. Appealing pictures highlighting your assets will attract attention and widen your pool of applicants. Many renters will not pursue a property that does not include photographs, as this can be a sign of a rental scam at worst and a variable bet at best.
Topics: Tips for Landlords
You’re exhausted by your search for the perfect rental. Your old lease is up soon, and you’re in a rush to find your new home. Suddenly, the ideal place floats across your screen. The photographs are gorgeous. It has everything you’re looking for and a few things you didn’t dare to include on your list. The location is perfect. It’s actually on the lower end of your budget. Your heart is beating in your ears. What if this was it? You reach out to the landlord and hear right back. They are out of the country on business and in a hurry to fill their space with a responsible party such as you. Would you like to move in next week? Could you please wire $2000.59 to this account based in Nigeria? Your gut tells you this is a scam. But what if it isn’t? You have already pictured yourself floating in the pool and waking up bathed in gorgeous natural light.
Don’t do it. It’s a scam.
Your tenant’s checks are bouncing. You notice some tenants' rent has been straggling in later and later as the COVID pandemic drags on. More landlords than ever before are considering offering online payment options for their tenants and many tenants report that they prefer to pay their rent online. It might be easier to convert to an online rent payment system than you think.