Category Archives: Renting

Tips for Leasing Your Home

Photo Credit: www.lawyerslegalformsanddocuments.com
Photo Credit: www.lawyerslegalformsanddocuments.com

Here are several tips you’ll want to utilize when leasing your house to tenants:

 

1)    Keep Good Tax Records

Most landlords aren’t very good at keeping records for their rental home(s). It is critical to keep rental property transactions separate from your personal transactions. This means having a separate bank account for your rental. Deposit all your rental income into that account; and have separate checks and debit/credit cards solely for rental expenses. Do NOT comingle funds. It will make life much easier come tax time!

 

2)    Consider A Property Manager

One of the major complaints with owning rentals is the hassle. It requires responding to tenant calls at all times and you have to deal with acquiring new renters when your home goes vacant. A property manager can alleviate these issues. Just be aware it will generally cost you around 10% of your monthly rent. You must decide whether to maximize your profits, or keep your sanity!

 

3)    Entertain Taking Less Monthly Rent

We know this seems counter to what most landlords want – and that is the maximum monthly rent. But renting your property for slightly less than market value provides more tenant options to choose from upfront; which means you’ll be less likely to have a vacant home for months at a time. The low rent can also be used as a trade-off agreement with your tenants not to hassle you for minor repairs. With less hassle, maybe you won’t need the property manager mentioned above!

 

4)    Be Wise In Selecting Tenants

Conventional wisdom says to locate tenants with great credit, a strong income, and a perfect rental history. While these are important, they are not the most critical. You want tenants who feel lucky to rent your property; not ones who feel entitled. “Entitled” tenants are the ones who make demands and requests before you even decide to accept them as tenants. It’s often better to take tenants with lesser qualifications, if you feel they won’t be a pain in your neck! And of course you want to still assess their ability to pay rent. Don’t forget to look for tenants with good character!

 

Feel free to contact us if you have questions about leasing your property…we’re here to help!

Tips On Choosing an Agent to Sell

CN March Blog PicThinking back on when you first sold or bought your home, how did you decide on who you would trust to take you through this experience? Was it from a family/friend referral, the internet, open house, or a complete stranger you met randomly somewhere? Hopefully, the decision made was the right one and if you did your homework, then we are happy that it all worked out in the end. If not, then hopefully this blog can aid you in some way.

 

Below are some tips/characteristics when searching for someone to sell your home because hiring a good listing agent is crucial to your entire experience as a home seller:

  • Experienced and educated with a proven track record
  • Hire someone that will communicate effectively with you and will give good advice
  • Has extensive knowledge of your neighborhood
  • A good negotiator to sell your home for the best possible price and as quickly as possible
  • Someone with a strategic marketing plan (ask to see what that consists of: how many websites will have your property’s info, how many open houses to be held)
  • Someone you can TRUST

 

You can check us off for all of the above and if chosen to be your Listing Agent, we at the Iseley & Walsh Group, are very involved with preparing your home for sale and marketing the property. Most importantly, we value your home just as much as you do and will always provide a comprehensive market analysis.

 

We want to give you the best experience from beginning to end. Not only are we here to do business, but we are here to build a long lasting relationship.

 

Submitted by a guest blogger.