Category Archives: Landlords Section

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Home Trends for 2017

4 Luxurious Home Trends for 2017

For the last 2016, the high-tech home ideas are in trend so how about for the year 2017? Buying a home is one of the huge ideas you have to make and can be so much exciting. But what is more exciting than renovating your own home, right? We have come up with the top 4 luxurious home trends for 2017 for you and these have been the biggest trends coming up run the luxury sector for this year.

Having a laundry room upstairs

Why is this a good idea? Because most of our laundries are from upstairs, particularly in our rooms. It will lessen the hassle of bringing your laundries up and down and it will be much easier. As there are rooms for washing machines and dryers, another trend is installing separate drying cupboards. These cupboards also make your clothes wrinkle free as they dry. Nice, right?

Leisure and game room on rooftop or top floor

Having a leisure and game room in your home is also important. This is where you can relieve your stress from work. But what’s great about having it on the top floor? Playing with a great city view or beach view. Install the sound, TV, and radio with ceiling speakers would make it more luxurious.

Put a pet parlor

Pets are part of the family, so why not build their own utility room where they can comfortably poop. If you had a long walk with your pet, you do not need to worry about having a muddy floor and take them straight to your pet parlor. Put on some dog beds, underfloor heating and showers to dry them easily.

Have a submerging swimming pool

What’s amazing with this? It is where you can turn your pool into a ballroom floor.  The floor of the swimming pool upsurges to become level with the floor of the room. Just press a button and amaze your guests.


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Is a Residential Rental Property a Good Investment?

For business minded people who wanted to start a low risk-high reward passive income, Residential Rental Property is the best way to go. It’s a onetime big capital investment in which will automatically bring you money every month without doing anything and spending more money after it’s been made. Whenever we have a big money on our banks and come to decide that we need to invest it to make it bigger, the first thing that comes on our mind is having our own Rental Property. But being a landlord is not for everyone. If it’s always been a dream of yours to chase down rent checks and get calls about clogged toilets at 3 AM, then by all means, buy a rental. But make sure you know what you’re getting into first. So is it worth the big shot? Here are the downsides of owning a Residential Rental Property.

 

Owning a Residential Rental Property Doesn’t Mean You Get to Expense All the Things

When you own a rental property, there are certain expenses you can deduct for tax purposes that you can deduct for tax purposes that you can’t deduct from your own pocket, such as utilities, maintenance fees and association fees. You cannot deduct the principal portion of the mortage payment or allocate your own money to the rental property.

 

You might not get A Tax Benefit from It

The IRS has certain pesky rules about passive losses. Rental income is considered passive, meaning you are not directly earning the income as you do at your job. Passive losses may be deducted from your non-passive income (such as wages), but there are limits. Passive loss limits max out at $25,000, and that number decreases as your income increases.

 

Looking for a Great Rental Property Isn’t Easy, and it’s Not Worth Loaning for to Buy it

Few years ago, Investors can buy properties for an unbelievably low price. Now that real estate’s price has increased by an incredible amount, you cannot find a good property at a bargain. You may find some for a low price, but you will still spend a lot on it for fixing it to become a rentable property.


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common renter mistakes

Top 4 Huge Mistakes Every Renter Does

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The tenant population is certainly diverse, and many renters are entering the housing market for the first time. Unfortunately, word often doesn’t get around about typical renter mistakes, so the same errors are often repeated.

  • Not reading the contract carefully before signing the lease.
    Even if the renting market is frenzied, you must not rush into the rental agreements if you have so many questions about it and you don’t feel right. Eric Feinberg, a New York City-based tenant lawyer, says, “I can’t tell you how many people knew when they were signing that it felt wrong and how much more it cost them in the end.” Always make sure to check out your tenant rights in the Department of Housing and Urban Development’s website. This website indicates a state-by-state list of the things that are legal.
  • Signing an objectionable lease.
    Finding a lease can be hard and easy at the same time. You must always consider first your needs and what you might sublet in the future like having frequent visitors or having a pet. When searching for rental spaces, you cannot forget and leave behind your lifestyle and needs just because you don’t own the house. Always sign if you liked the lease you chose. Most of the time, having extra guests or appliances will have some extra charge so you have to be careful and responsible enough to know all the details before signing the lease contract.
  • Not taking pictures upon checking up the chosen space.
    If you are decided to take up the rental space you checked out, do not forget to take some pictures of the pre-existing damages to inform the landlord before checking in. You can make a list of these damages with a sign and date to give it to your landlord. If you have talked about all the repairs to be done with the landlord, get everything in writing all the promises he made.
  • Not knowing the importance of getting renter’s insurance.
    The renter’s insurance is the most important thing you need to get after signing the lease because the landlord’s insurance policy does not really cover their tenant’s personal property. If natural hazards occur and your valuables are damaged, you are the one responsible for the cost of it all. It is advisable to get a renter’s insurance which is affordable for you.

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How Often Should A Landlord Inspect Their Rental Properties

As a landlord, you have a responsibility to make sure everything goes well on your rental properties. This does not only help you get long-term tenants, it also helps improve your rental properties’ value on the market. With this in mind, landlords should see to it that their rental properties are always on the best shape. This means protecting their properties even when tenants are currently living in it.

The big question is, how often should a landlord inspect their rental properties? Here are the answers:

Upon moving in & moving out

Upon moving in, landlords accompany their tenants for a move-in inspection. This will help the tenant get familiar with the rules and the property. The same process happens upon moving out. This will give the landlord a chance to see which rules were violated, and whether the tenants left the property in the same condition as it were upon move-in.

Thrice a year

Landlords are advised to check on their rental properties thrice a year. This will give the landlords the opportunity to see whether their property are taken well care of. This inspections will also be a great time for the tenants to inform their landlords about improvements that are needed.

Landlords are also advised to inform their tenants 24-28 hours prior to inspection. This will give the tenants some time to get the property in order.

Tenants are advised to consult their lease contract and see if the landlord’s visits are specified. This will help tenants prepare for each visit.