What to Renovate in Your Rental Home in Fresno

Fresno population is growing and investing in real estate here is a booming business. However, it is important for investors to work closely with property management Fresno companies if they want to maximize returns from their investments. Other than helping you to take care of your investment, property managers understand the demands and expectations of tenants and can therefore help you with ideas when renovating your rental home to make it more attractive to potential tenants.

Remember that Fresno property management work with tenants all the time and they can help you as an investor with useful renovation ideas that could add value to your property and make it more attractive to potential tenants. They can also give you tips on how to expand your rental space so that you can maximize on rental income. Here are some of the key things that you should consider working on when renovating your rental home in Fresno.

  1. Add additional income Suite in your rental home

Some rental homes are situated in a big and spacious compound that can be used to build an additional income suite within the property. Remember when you decide to rent out your home, chances are very high that tenants may not need a big space like you. It could be profitable if you had additional structures and let out so that they can earn you more income. For instance, you can renovate the basement of your home or the parking and garage so that you can rent it out separately. You can also divide big rooms in your house so that you can rent them out separately if the tenants you are targeting cannot afford renting the whole house.

rental home

      2. Improve the shape of your kitchen

I am sure you have heard some people say that Kitchen is the heart of every home. This is very true because the majorities of renters are very categorical about the condition of a kitchen of the house they are renting. Some tenants are very concerned about the kitchen to an extent that they are ready to compromise other things as long as the kitchen is appealing and meet their expectations. You can improve your kitchen by adding some new appliances and adding modern cabinetry and under cabinet lighting among others.

     3. Replace the flooring

It is very important to replace the flooring of your rental home before advertising it to potential tenants if you want it to attract more renters and fetch you more rental income. This is because tenants are very concerned about the flooring of the house they are renting. You can install some hardwood floors and quality tiles in your rental home as a way of adding some value to it. This will not only make your home attractive to possible tenants, but it will also make your home gain value.

    4. Replace the fittings and fixtures in your rental home

If you do not know, tenants are attracted to rental properties that are fitted with new and attractive fittings and fixtures. For instance, if your rental home has old fixtures, it is important to consider adding some new cabinetry, light fixtures, faucets and counter tops in your home among others. Tenants are more attracted to what is appealing to their eyes before they even consider other factors such as safety and convenience. However, you need to work closely with a local Fresno property manager so that he/she can advise you on important fittings and fixtures you should add to make your rental home more attractive to potential tenants.

 

Why Las Vegas Is a Great Place to Invest In Real Estate: An Insight on Property Management in Las Vegas

Real estate investing is one of the most profitable endeavors to take on in Las Vegas, as long as you have enough capital of course. Moreover, there are various factors that a real estate investor should consider before committing his or her money in order to get good returns. Some of these factors include the availability of tenants and availability of reliable property management companies in Las Vegas. The following are some of the fundamental reasons why Las Vegas is a great place to invest in real estate.

  1. A stable real estate market growth


The real estate market is Las Vegas is growing at a very rapid rate. The region is actually one of the places in the U.S. where property prices have recovered well after the 2008 real estate national crisis. Whether you want to acquire some properties so that you can rent and earn some side income or sell it and make a capital gain, Las Vegas Real estate should be your first place to consider. Properties in the area are appreciating year after year and aspiring real estate investors should buy more properties now before prices become too expensive.

  1. High demand for housing

There is high demand for housing in Las Vegas throughout the year and property owners are making good returns from their investments. There are many people willing to live and work in Las Vegas and its environs. Therefore, the demand for housing in Las Vegas is very high. It is also worth noting that Las Vegas is a leading vacation destination for people looking for a place where they can spend some good time. Therefore, demand for rental homes and apartments are very high in Las Vegas, especially along the coastal regions. Those planning to invest in commercial real estate, it is worth noting that more businesses are opening in Las Vegas and demand for offices and stalls are on the rise.

  1. Reliable property management in Las Vegas

One of the main factors that discourage many real estate investors to acquire more properties is the lack of reliable property management companies. It is possible to manage a single property by yourself, but hiring a professional property manager becomes a necessity when you own several properties or rental units. Las Vegas property management is not a problem because there are many reliable ones that you can hire to look after your properties.

  1. Rapid economic and population growth

It is among the top cities in the U.S that have registered rapid population and economic growth in the recent years. Their economy is doing well and many people are willing to relocate and work in there. Consequently, the demand for rental houses is very high in the region and more people can afford to pay more rent to get better housing. It is projected that demand for rental houses will continue to increase in the coming years and rental properties will continue to appreciate.

economic growth is las vegas

  1. Financing is easy to get

Financing is readily available for investors, even if you have a bad credit rating. Moreover, mortgage interest rates in Las Vegas are relatively low when compared to other major cities in the U.S. Whether you are planning to invest in commercial properties or residential properties and you do not have adequate capital, financing is easily available in Las Vegas with less documentation and short waiting period.

  1. Favorable local housing laws and regulations

Las Vegas local authorities believe that real estate is a key factor in the local economy. Consequently, local housing laws and regulations are designed to encourage more people to invest in real estate. Laws governing housing in the region are favorable to both local and foreign investors. It, therefore, takes very short time to have your documents approved so that you can start developing your property in Las Vegas.

  1. Availability of building materials and builders

According to Costello Realty & Management real estate investors in Las Vegas do not have to outsource building materials and builders from far places. Building materials, builders, engineers, and architects are locally available at affordable prices. You can either choose to hire builders and supervise the construction process by yourself or hire a building company to develop the property on your behalf.

  1. Political stability, good security and good climatic

Las Vegas has enjoyed political stability for many years and local government has provided adequate infrastructures and social amenities in the region. More so, security is good. The climate (http://www.usclimatedata.com/climate/las-vegas/nevada/united-states/usnv0049) is very friendly throughout the year with no cases of extremely low or high temperatures. Subsequently, many people from other parts of the country, and even foreigners prefer to spend their holidays there.

Are You Looking For A Good Sacramento Property Manager?

Owning a rental property in Sacramento is a great achievement and a sure way of building a passive income stream. However, the biggest challenge to many property owners in Sacramento is managing their properties effectively in order for it to generate good income. Running after tenants, working on maintenance and repairs, solving tenancy related disputes and responding too late night calls from your investors, whenever there is an emergency in your property can really make you regret why you chose to become a landlord. The majority of the property owners in Sacramento hire good property managers in the region to take care of their investments and respond to issues arising from tenants.

Although Sacramento property managers are efficient and reliable, it is important for property owners to decide first if they really need a property manager before taking the initiative of looking for one. The following is a basic checklist to help you figure out whether you really need one.

  1. Your property is Part of an Affordable Housing Program

Real estate investors whose properties are part of an affordable housing program (http://www.shra.org/) need to hire a professional property manager in order to be on the safe side. Remember that if you have invested in an affordable housing program, you are likely to have benefited from grants, low-interest rate loans, and other favorable benefits while developing your rental property. You are therefore required to adhere to certain conditions, which sometimes are very complicated. For instance, you may be required to rent part of your property to tenants earning below a certain income level. It is; therefore, wise to hire a Sacramento property manager who has experience with properties under an affordable housing program to take care of your property.

  1. You Own Several Properties or Rental Units

If you are a first-time real estate investor and you own one or two properties or rental units, it is possible to take care of them on your own but it may be more time consuming than you have expected. If you have several properties or rental units in different parts of Sacramento, it becomes even more difficult to manage by yourself, thus it may be necessary to hire a property manager.

  1. You Live Far From Your Rental Property

If you live near your rental property, it is easy to manage your investment by yourself. However, if you live far from your rental property or outside Sacramento, it is necessary to hire a local property management firm to take care of your property. One firm I’ve had experience working with and is an excellent property manager is 2 Rivers Properties. If you’re looking to hire a firm I recommend checking them out.

  1. You Have Other Commitments and Limited Time

Many property owners have other commitments, and they do not have adequate time to look after their rental investments. They, therefore, look for good property managers in the region to take care of their properties. However, if you do not have other commitments, then it is wise to manage your properties by yourself and take it as your job instead of paying someone to do it.

good property manager

  1. You Do Not Have The Required Skills and Resources

Property management is quite time consuming and it can be very stressing on people with no skills or experience in the industry. Most of the rental property owners in Sacramento are not conversant with the rules and regulations that govern property management in the region. If you are one of them, it is important to hire a qualified property manager to take care of your investment and avoid getting yourself into ugly situations with local housing law enforcers or tenants.

  1. If It Fits in Your Budget

Although hiring a property manager to look after your investment in Sacramento is a good option, it is worth noting that it comes at a price. Property managers in Sacramento charge fees ranging from 5 to 15 percent of the total rent revenue collected. It is, therefore, important to make sure you can afford the fees charged before you start looking for a property manager to hire. If you cannot afford the fees, and it is not mandatory to hire a property manager, then it is wise to manage the investment by yourself and save on costs.

  1. You Do Not Want To Be an Employer

Some owners of rental property in Fair Oaks Ca (a suburb of Sacramento), especially those owning several properties or rental units, prefer to take care of their investments by themselves with the help of a resident manager and a few employees. However, if you do not want to be an employer and deal with payroll issues and other requirements, it is a good option to hire a property management company to look after your rental investment. In this case, the property management company is an independent contractor, and you are not directly responsible for its employees.

Simple Ideas to Enhance the Look of Your Rental Property

Real estate investment can be a very profitable business throughout the country as long as you can reach possible tenants to occupy your rental property.  Real estate in the U.S. has attracted many investors and the market is highly competitive. Although rental property owners are required to market their properties extensively, they also need to make sure these properties are appealing to potential tenants. The following are simple ideas that you can use to enhance the look of your rental investments and make them more attractive to possible tenants.

  1. Involve a reputable property manager 

Tenants are more attracted to rental properties where they can get total value for their money. Potential tenants are attracted to properties where they are confident they will get excellent customer support. You can attract possible tenants to occupy your rental investment by hiring a reputable property manager to take care of your properties. Potential tenants are attracted to property managers with a good reputation and good tenant relationship. Your property may not be the best in the estate, but still attract possible tenants depending on the reputation of the property manager taking care of it.

reputable property manager

  1. Develop your property from a tenant perspective and not an investor perspective 

In the real estate market, tenants and property owners may sometimes have conflicting perceptions about a good rental investment. While an investor might be interested in certain features, possible tenants might be looking for different features. It is important for property owners to understand that they are in business, and make sure they have developed their properties from a tenant perspective. Make the changes you would want to see in a property you would live in. Be mindful of the price you can charge for rent for the particular unit when making these changes.

  1. Include quality fittings and fixtures 

Many people tend to use attractive quality fittings and fixtures when building their homes but ignore them when building properties to rent. It is important to understand that tenants also want to live in good houses with quality fittings and fixtures. Although quality building materials are more expensive, it is worth the cost putting quality fittings and fixtures in your rental house in order to make it more appealing to possible renters. It is better to spend more when building your rental property and have renters competing for your house afterwards.

  1. Invest in professional photography 

The first impression that possible renters get when looking for a rental property is very important. The quality of the photos that you use when marketing your rental investment determines whether possible renters will call to inquire about it or not. You can make your rental investments appealing to possible renters by investing in professional photography instead of taking your own photos. This small investment can go a long way.

  1. Good presentation to potential renters  

Although this might seem like stating the obvious, the way you present your property to potential renters really matters. You can present a standard property to potential renters very well, and it appears like an excellent property. Make sure your property is freshly cleaned before presenting it to potential tenants and take your time to show possible tenants every detail in your property.

  1. Regular repairs and renovations  

You can attract potential renters by doing regular repairs and maintenance to your property to make sure it is in always good condition. It is good to renovate your property every time a tenant leaves so that it can appear new to the eyes of future tenants. Make sure you have done necessary repairs and painting before listing your property.

  1. Give your property a nice compound 

Many potential renters are attracted to properties with a well-maintained compound. You can attract more potential renters by making sure your property has a well-maintained outdoor area, attractive lawn and a spacious compound where children can play comfortably. You can use the outdoor area surrounding your property to attract potential renters and make your property attractive.

  1. Capitalize on quality communal areas 

Another very effective strategy that you can use to make your rental investment attractive is to capitalize on the shared facilities. Many potential tenants are interested to know what shared facilities are close to a property they are about to rent and whether they are in good condition. You can mention things such as a common swimming pool within the compound, a shopping mall, a day care and even a playground where children can play and have some fun. Your property may not be the best on the market, but it can still attract possible renters if it is close to quality communal areas and shared facilities.