Category: Home Solutions

Emergency repairs are an inevitable part of owning or managing a rental property, and how you handle them can make all the difference in maintaining tenant satisfaction and protecting your investment. From burst pipes to broken heaters, unexpected issues can arise at any time. Below, we’ll share practical tips on how to handle emergency repairs. Don’t let emergencies catch you off guard—let’s get prepared! Remember, at Home Solutions we offer full-service property management services, providing innovative technology, experience, and professionalism. With us, emergency repairs are never your problem!

All landlords know the dreaded feeling of getting a call from a tenant at 2 a.m. Their furnace stops working in below-freezing temperatures, or a burst pipe is spouting water everywhere, and it’s now an emergency that you need to deal with immediately.

While outsourcing to a property management company may decrease the burden of emergency repairs, it’s important for all landlords to understand what counts as an emergency repair, how to plan proactively, and how to manage emergency situations when they happen.

What Is Considered an Emergency Repair for Rental Property?

Emergency maintenance situations for rental properties typically involve significant damage that impacts the immediate safety or usability of the property itself.

Common examples of rental property emergencies include:

• Gas leaks or carbon monoxide issues
• Plumbing issues, including non-usable toilets or burst pipes that may cause flooding and property damage
• A broken exterior door or lock that can’t be secured from the outside
• Air conditioners or furnaces that shut off in weather that legally requires heat or cold for safety purposes
• Extended power outages
• Flooding or fire damage
• Sewage backups
• Extended power outage
• Severe electrical issues, including identified issues with live wires

It’s important to consider that landlords won’t be the first call for these emergencies. If tenants notice a gas leak, for example, their first call should be to their local fire department due to the potential safety concern. Landlords can discuss the issue with the fire department to determine what immediate repairs can be made, if needed.

Each state may have their own individual tenants’ right laws, which can influence what’s considered an urgent or emergent repair. Take note of your local regulations to determine what counts as an emergency that requires immediate solutions.

What Is Considered Non-Emergency Maintenance?

Non-emergency maintenance includes any other repairs that aren’t emergent. They may still be considered urgent, as landlords have three to seven days to fix critical repairs and up to 30 days to make all other repairs.

Examples of non-emergency maintenance may include:

• A broken air conditioner when the temperature is forecast to stay below 90 degrees
• No hot water
• Light fixtures have burned out.
• Garage door openers aren’t working.
• Peeling paint or damaged drywall
• Pest infestations
• One toilet or sink isn’t working, but there are multiple available in the property.
• The stove isn’t heating up all the way.
• The freezer isn’t working as it should.
• Minor leaking from the roof, doors, or windows

Proactive Preparation for Emergency Repairs

Emergency repairs are never fun, but they’re an inevitable part of being a landlord. And while you never know when they’ll strike—and they most often seem to happen at the least convenient times—there are steps landlords can take to prepare as much as possible in advance.

Start by educating tenants about what constitutes emergent and non-emergent repairs. Set reasonable expectations for how long it will take for both types of repairs to be resolved. Ensure tenants understand who to contact, and what official communication may be required, including any required forms that must be submitted.

As a general rule of thumb, we recommend renters expect the same level of service homeowners may receive. Someone likely won’t be able to come out in the middle of a snowstorm, for example, and it may take eight to 12 hours to get any kind of expert out.

You should also assemble lists of vendors, ideally with two or three companies offering emergency repairs for each service you may need, including plumbers, electricians, locksmiths, and HVAC repair experts. Establish relationships with vendors when possible so that they’ll be willing to come out on short notice if needed.

Some landlords choose to work with property management answering services, which will be available to take tenant calls around the clock. Those middle-of-the-night calls can be referred to the answering service instead of waking up the landlord.

Handling Emergency Maintenance Situations

When it comes to tackling tenants’ emergency maintenance situations, landlords really have three options: Handle it themselves, outsource contract maintenance to a third-party vendor, or, as mentioned, hire a property management service.

DIY maintenance

DIY maintenance comes down to managing tenant repair and maintenance requests yourself. You’ll have to field incoming calls, potentially inspect the damage, and contact technicians for any work that you aren’t capable of or licensed to perform yourself.

That said, it’s not always the best idea to hand over your personal cell phone number to residents. You could find yourself swarmed with even minor requests. It’s best to use a virtual phone number for maintenance, or have it routed to an office line if you have one. Tenants can leave a message, and you can call back immediately if it truly is something urgent.

This can be challenging. Sometimes tenants may call and want an immediate solution when one isn’t available until the next day, or when the situation isn’t truly urgent.

Make sure you’ve got your list of trusted contractors on hand and ready to go for when emergencies do arise.

 

Contract maintenance to a third-party vendor

Many landlords prefer to handle most takes themselves, such as receiving and tracking payments or reviewing tenant applications. As a result, they don’t want to work with a property management company.

Those who do want to be more involved (and keep more profit for themselves) but still want to outsource some maintenance repairs have the option to do so. There are maintenance companies specifically for landlords who self-manage their own rentals. They’ll handle ongoing maintenance and can be contacted for emergency repairs.

When considering a maintenance contracting company, ask the same questions you would a property management company. This may be a great option for first-time landlords who want to maintain full control over the property but are intimidated by ongoing maintenance issues.

Using a property management company

Landlords who choose to partner with property management companies may be able to rely on the property manager to oversee emergency repairs. In some cases, the company may have preferred vendors that can help provide emergency repairs faster.

When working with a property management company, ask the following questions to determine how they handle emergencies:

• Do you charge extra for emergency repairs?
• What are your guaranteed timelines for emergency maintenance?
• What do you consider emergency maintenance?
• Are your repair practices consistent with state and federal requirements?
• Do you have relationships with established vendors?
• What do you need from me as the landlord to complete emergent and non-emergent repairs?
• How can my tenants get in touch to request emergent and non-emergent repairs?
• How much do you spend on repairs without my approval, and what type of repairs will you complete without my approval?

Make sure that you’re not only comfortable with all the answers, but that there’s a formal contract that outlines everything you’ve agreed on. If it isn’t in writing, you can’t trust that the agreement will be enforced. This includes limits for how much the property manager can spend without additional permission, with limits often including $300, $500, and $1,000.

Final Thoughts

Emergency maintenance doesn’t happen often, but it does happen. Having a plan in place, expectations set, and plenty of contractor contacts can keep you ready to handle anything that pops up.

Because emergency costs can be expensive—especially if you’re calling an emergency service overnight—it’s best to have funds allocated for situations that may arise. Again, while emergencies typically aren’t regular occurrences, a single plumbing issue could easily cost anywhere from $500 to $2,000 for a single visit. Being prepared financially is important.

Finally, avoid deferred maintenance whenever possible. Make regular repairs and updates as needed. Have your HVAC system serviced annually, for example, and ensure that the water heater is flushed at least once per year. This can prevent more expensive repairs from happening later, and it may catch issues before they become emergencies.

Your peace of mind is our priority! Don’t let emergency repairs catch you off guard. Call us today at (954) 545-3027 to learn how our property management services can help you handle crises with ease. Follow us on Instagram @homesolutionspm

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Reference: [https://www.biggerpockets.com/blog/rental-property-emergency-repairs]

Buying a house is one of the most significant decisions you’ll ever make, and it’s essential to know what to look for to ensure you’re making a smart investment. There are countless factors to consider. Read on to learn the most important things to look for when buying a house.

• -Before shopping for homes, make two lists: things you can’t live without, and things that would be nice to have.
• -Some of the most important factors to consider when buying a house are price, size, and location.
• -Knowing your priorities ahead of time can help you act fast in a hot real estate market.

The housing market moves quickly, so knowing what you want before starting your homebuying journey is vital.

This will allow you to make an offer quickly when you find a home you like — hopefully beating out the competition and snagging that dream home.

Still, knowing what to look for is harder than it sounds, especially if you’re a first-time homebuyer. Not sure what to look at when starting your home search? Follow this checklist for first-time homebuyers.

Location and neighborhood

Location is something you’re stuck with until you move, so be sure you’re choosing a city, school district, and neighborhood that suits your needs.

“Focus on buying in the perfect location and then make the house perfect over time,” says Glen Pizzolorusso, associate real estate broker at Glen Christopher Luxury Collection in Connecticut.

Proximity to work, schools, and amenities

You’ll want a community that’s within easy driving distance of work, as well as amenities your family needs — things like grocery stores, a gym, parks, trails, playgrounds, and other services you plan to use often.

If you have kids — or plan to have kids while living in the house — you should also check which school they would attend should you live there. With younger kids, you should think about the middle or high schools they would go to in the future, even if that’s a few years away.

Safety and community vibe

Figure out what you need out of a neighborhood. Do you want to live in an area with low crime rate statistics? A place where your neighbors have similarly aged kids or interests as yours?  Think about what’s most important to you and the rest of your household.

Then, do some research. Walk the neighborhoods you’re considering, talk to residents, join community Facebook groups, and tap your real estate agent’s knowledge. These can all give you insight into the local vibe.

Home’s condition and age

A home’s condition is going to play into what you offer for it, as well as what you can expect to pay for the property (in repairs and maintenance) after you move into the home. It can also affect future resale value.

Structural integrity and potential repairs

Make sure to schedule an inspection before closing on a home. This will allow you to evaluate the structural integrity of the home, as well as what might need repairing (or if any big issues lurk below the surface.)

Home inspection essentials include assessing the roof, the appliances in the home, the foundation, and other major features, and every inspection will show some faults — even on brand-new homes. But think about which issues you can accept and which are deal-breakers.

While they aren’t always necessary, home warranties can cover the cost of repairs to your home’s major systems and appliances.

Age of the property and its implications 

You should also consider the age of the home and the systems and features within it, as it could indicate what issues and repairs you’ll need once you move into the home.

For example, a shingle roof usually only lasts about 20 years. So, if the home you’re eyeing is 15 years old and has never had the roof replaced, that’s something you’ll probably need to pay for in the next few years.

Also, take into account how the home’s age could impact its future resale value. This is particularly important if you’re not sure how long you’ll be in the home.

Size and layout

The size and layout of your home will play a big role in how well it can serve your needs as a household — both now and in the future. Make sure you consider the following:

Adequacy for your current and future needs

How many bedrooms do you need? Maybe you also need an office or playroom. If you have several kids, you might need a large living room. Square footage is really expensive and sometimes impossible to add, so be honest about how much space you really need.

Make sure to think ahead, too. If you think you may have another kid or two, be sure there’s enough space to allow for those plans. Hope to get a dog? Look for a spacious yard or a place without carpets.

Flexibility of the space for modifications

While it’d be nice to know your future plans without a doubt, that’s not always the case, so make sure you’re buying a home that has some flexibility just in case. Is there a wall you could knock out to open more space if needed? A garage or attic you could potentially finish should you need an extra room? Having an easy-to-modify layout can give you more options down the road.

Legal and financial considerations

There are many legal and financial considerations that go into buying a home, too. Here are a few you’ll want to take into account while on your home search:

Property taxes and homeowners association fees

Both property taxes and HOA dues can take a big chunk out of your wallet. To find out what a home’s estimated property taxes are, you can check with the county’s appraisal board. HOA dues should be listed on the home’s listing or you can request them from the listing agent.

You may also want to look into the HOA’s rules and regulations, as these could impact what you can do with your home after move-in (what pets you can own, what modifications you can make, etc.)

Zoning laws and potential for future developments 

The zoning laws in your area will have a big impact on what renovations you can make on your home or, in many cases, even how you can use the home. (For example, you may not be allowed to rent out the house or list it on Airbnb.)

To learn about a home’s zoning limitations, contact your city’s planning and development department. They can help you get details for specific properties or communities.

You should also research any future developments that are planned for the area surrounding a home. Is a big shopping center on the way? An apartment complex? A new school? These could all impact the traffic, crime, home values, and other conditions in the community.

Market trends and resale value

Homes aren’t isolated. Instead, they’re a part of a larger ecosystem that can impact what they cost and what return you’ll see by investing in one.

Local real estate market trends

Talk to your agent about the local real estate market. Is it a buyer’s market or a seller’s market? This will impact the price you’ll pay for the home, as well as how much sellers will be willing to negotiate.

Ask about how fast the market is moving, too. If homes are flying off the shelves, you’ll need to be prepared to make fast offers that get noticed right off the bat. If not, you may have more leeway to take your time and be more strategic.

Potential for appreciation 

Unless you’re buying your forever home, it’s also a good idea to consider how easily you’ll be able to sell it when the time comes — and at what price. Will demand for real estate remain high in the area for the next few years? Is the neighborhood more likely to improve or take a downturn? Are the features in your home classic and timeless, or could they fall out of favor by the time you sell? These are all factors impacting home value, both now and years down the road.

Energy efficiency and sustainability

How energy efficient a property is will influence its costs over the long run, so make sure you factor in the following when considering a home.

Insulation, windows, and energy-efficient appliances

The more energy-efficient a home is, the lower your energy and utility bills will be. The same goes for appliances (Energy Star-rated ones are best!).

Energy-efficient homes tend to sell for more, too, so these features can also impact your eventual resale value.

Sustainable materials and solar potential

If you’re looking to reduce your environmental footprint, a home built using sustainable materials might be something to consider. You should also factor in its future potential for solar panels. To check whether a solar panel system would work on the home — and how much it could save you down the line — enter the address into ProjectSunroof.com. This Google-built tool can break down all the details for you, including how much sunlight the home gets based on its roof layout.

Inspection and appraisal

These are two steps you’ll take after you’ve made an offer on a home, but they’re incredibly important. Not only can they tell you about the condition of the home, but they’ll also shed light on its value — and how much you should pay for it — too.

Importance of a thorough inspection

Inspections are vital — even on brand-new homes. They’ll tell you more about a home’s condition, systems, features, and appliances, and give you an idea of how long those will last — and what potential repairs need to be made.

If you have an inspection contingency in your contract, you can use the inspection findings to negotiate repairs or pricing on the home (or pull out of the deal altogether.)

Understanding appraisal value and its impact

An appraisal determines the market value of your house, and mortgage lenders use this number to determine how much they’re willing to loan out for a property. If the appraisal comes in lower than what you offer, you’ll have to make up the difference or renegotiate with the seller. If you have an appraisal contingency in your contract, you can also withdraw from the transaction.

Making an offer

Once you find a place that checks all the boxes, it’s time to make an offer on a home. These tips can help.

Strategies for competitive but fair offers

Have your agent research comparable properties before making an offer on a home, as this can give you an idea of what price the seller may expect.

You should also include a mortgage preapproval letter, showing sellers that you have the financing to back up your offer and consider what earnest money you want to offer, too. Earnest money deposits are a good way to show you’re serious about a home and stand out from other buyers.

Negotiation tips for favorable terms

There are many strategies for negotiating home purchase deals that are favorable for both parties. For one, you can offer the seller a leaseback, which allows them to rent the home back from you for a certain period of time while they find a new home.

You can also be flexible on your closing date or waive contingencies (when your agent says it’s safe to do so). This can make the deal less risky for the seller and more apt to pick your offer.

Closing the deal

After you’ve found your dream home and your offer has been accepted, it’s time to close on the deal. Here’s what that looks like.

Preparing for closing costs and paperwork

Your closing day is when you’ll hand over the check for your down payment and closing costs. You can find the total for these on your closing disclosure form, which your lender must give to you at least three days before closing. You’ll usually need a cashier’s check in this amount.

You’ll also need to sign lots of paperwork on closing day, so come ready. Often, your real estate agent will attend closing with you and answer any questions you may have about the documents.

Final walkthrough and ensuring everything is in order

Before finalizing the sale, you’ll get one last chance to walk the home and make sure it’s as expected. Did the seller clear out their belongings? Is the property clean and free of trash? Did the repairs you requested get made? If not, you may want to delay your closing until these issues are addressed.

Here’s a helpful moving checklist to make your transition smoother—because we care about your peace of mind. If you’re looking for the perfect home, Home Solutions is here to help every step of the way. Call us at 954-545-3027 or email [email protected].

Check out the Moving Checklist

Experience hassle-free homeownership. Enjoy peace of mind with our comprehensive property management services. We are here! Come follow us on Instagram @homesolutionspm.

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Reference: [https://www.businessinsider.com/personal-finance/mortgages/what-to-look-for-when-buying-a-house]

Finding the perfect rental home can feel like a daunting task. With so many factors to consider, it’s easy to get overwhelmed. However, by following a few key steps and utilizing available resources, you can streamline your search and find a place that meets all your needs. Read the tips below to navigate the rental market effectively and find the perfect home for you. We are here for any questions you might have — it’s a LOT to manage, and we are your team to guide you through so the journey can be exciting, not daunting. 

Let us help you find the perfect rental. We strive to provide exceptional service and guide you toward successful investment outcomes. Call us today at (954) 545-3027 and follow us on Instagram @homesolutionspm.

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Reference: [https://www.hgtv.com/lifestyle/real-estate/5-steps-to-finding-the-perfect-rental-home]

Investing in rental property can be lucrative, but it requires planning. There are many factors to consider, from finding the right property to managing tenants and maximizing returns. We bring you some essential information here to help you navigate real estate investing. 

At Home-Solutions, our team of experts is here to enhance your personal real estate ventures by offering personalized concierge-like services, exclusively designed for you. We offer our customers professional assistance with buying, selling, renting, investment portfolios, as well as property management. Connect with us and we will get all your questions answered. (954) 545-3027

Thinking about purchasing an investment property? Purchasing rental real estate requires knowledge of leasing practices, mortgage loans, tenant and landlord relationships, and property management.

Buying real estate to rent can be lucrative but, like any investment, should be undertaken only after some solid research.

Key Takeaways

Start 2025 as a real estate investor. Let us help you find the perfect rental property and maximize your returns. Call us today at (954) 545-3027 and follow us on Instagram @homesolutionspm.

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Reference: [https://www.investopedia.com/articles/investing/090815/buying-your-first-investment-property-top-10-tips.asp]

If your rental property has been sitting vacant for an extended period, it’s time to reassess your rental strategy. Several factors can hinder the rental process, from pricing and marketing to property condition and tenant screening. We will help you explore some key reasons why your home may not be rented and provide actionable tips to enhance its marketability.

One of the worst feelings as a landlord or property manager is watching a rental sit on the market week after week, month after month. Whether you are getting few to no leads or entirely unqualified leads, a property that remains vacant is costing you important profit.

While it can feel like an unsolvable puzzle when your rental sits vacant, the solution is likely well within your reach.

Following are six common reasons why your property isn’t renting and tactics for determining a solution.

1. Your rent price isn’t competitive.

An important aspect of leasing a property is pricing the rental accurately and competitively. Without an accurate price point, you might face a longer-than-normal vacancy.

First, do your own research on similar rentals in the area. Scour Craigslist, Zillow and other major rental listing websites. Create a document with the pricing of similar rentals in your area and find the average.

Another method when pricing your rental property is to purchase a rental comparison report. If you go this route, be sure to still do your own research into your rental property’s specific neighborhood.

While a price is simple to change, you should take the time to explore your other options prior to simply knocking dollars off the rent amount.

2. Your rental isn’t being seen.

One of the biggest mistakes new landlords will make is limiting how much effort they put into marketing their property.

Promotion should be far more than a sign in your yard. Over 50% of people living in rentals are under the age of 30, a demographic that turns to technology to find what they need. This means online marketing is key.

Not only should you be posting your rental across the web, you should also make sure your promotion is well written and paints the property in the best light possible. Include vital information, such as the following:

• Number of bedrooms and bathrooms.

• Square footage.

• Appliances included.

• Important policies.

• Cost of rent.

• Required deposit.

It is also important to include a gallery of photos with your listing. Take high-quality photos of each room when the property is clean and in good condition.

Often revamping your promotion of the property will be key in improving the amount of renter interest.

3. Your policies have restricted your market.

In highly competitive markets, your policies will play a huge role in how many people are interested in the rental. For example, if you need to set your property apart from others in the area, you might consider having a pet-friendly policy. By opening up the market to pet owners, you will see a drastic increase in the number of interested parties.

Consider your deposit amounts and lease terms as well. In a market where short-term rentals abound, you might need to adjust from a 12-month lease to a six-month lease or even change to month-to-month.

While you need to protect your property, you also need to weigh the cost of your vacancy against loosening your policies. Do your research and determine if your policies are actually costing you more than they are helping.

4. Your rental property isn’t appealing.

If you see a lot of interest in your property up front but after showing the space you see a decline in interest, it could be that the property itself at fault. Ask yourself what you would think about the property if you were seeing it for the first time. Consider everything from the curb appeal to the condition of the interior. Take time to repair items and invest in improvements.

Beyond appearances, consider what amenities other rentals in the area offer. Updated appliances can go a long way in not only garnering more interest in the property but also in keeping happy, long-term renters.

While improving the property is more costly than other items on this list, it can pay back over time if you invest wisely.

5. You are battling an oversaturated market.

In some cases, it can truly be the market you are in that is holding you back. Demand will play a role in how quickly you fill a vacancy.

While you cannot create a demand that does not exist, you can take into consideration the cycle of rentals in your area when creating lease policies. If, for example, you operate in a market influenced by the presence of a college, be sure you align your lease dates with the demand. Lock in tenants with a year-long lease that ends at the ideal time for you.

If you are already stuck in a dead spell of your market, consider tweaking some of the components mentioned above to secure a tenant. You might need to lower your price to get a tenant in mid-February, but you can sign a lease that ends in July so you can remarket with a higher price in the prime rental season.

6. Your rental isn’t in an ideal location.

Where your rental property is located will determine a lot about the tenants interested in the property. Of all the items on this list, this is the least possible thing to change. However, there are still a couple of valuable ideas to keep in mind.

First, learn from your mistakes. Be sure during the buying process that you truly understand the market for the specific area.

Next, if you own a property and realize the location is the main issue, recognize you will need to make up for it in other ways. For example, someone might be willing to be in a less desirable part of town if the property is dog-friendly with a fenced-in yard. Make the best of what you have by changing what you can.

The bottom line is that if your rental property sits vacant, you are losing money. Take the time to assess what you are doing wrong and have the humility to learn from your mistakes. Never leave the rental process up to chance. Landlording is far more than a hobby — it truly is a business.

Ensure your property is always in top condition. Our comprehensive property management services can help you protect your investment and increase its value. Call us today at (954) 545-3027 and follow us on Instagram @homesolutionsp.

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Reference: [https://www.forbes.com/sites/forbesrealestatecouncil/2017/10/30/why-your-property-isnt-renting-and-what-you-can-actually-do-about-it/]

Owning a rental property requires maintenance to ensure its value and attract quality tenants. Proper upkeep not only preserves the property’s condition but also protects your financial investment. We have here essential tips for maintaining your rental property, covering topics such as regular inspections, timely repairs, and addressing tenant concerns. 

How to Properly Maintain Your Rental Property

One of the biggest landlord responsibilities facing any property owner is rental maintenance. In fact, in a national survey conducted by SmartMove, rental maintenance was ranked as the third biggest “pain point” for landlords after loss in rental income and uncooperative tenants.

That’s not surprising. Rental property maintenance requires year-round vigilance, representing a significant amount of time and money. However, landlords can avoid the “pain points” if they follow some simple rules, stay organized and budget accordingly. Below we talk about some of the strategies for managing rental maintenance.

Regular Maintenance

Some rental maintenance issues, such as a leaky faucet, often can’t be anticipated or avoided. Other issues can be addressed before they become serious problems by following a regular maintenance schedule. These are the items that should be checked on a regular basis, whether weekly, monthly or annually, such as a yearly furnace inspection. Regular maintenance isn’t just about avoiding costly repairs but ensuring a pleasant living environment for tenants.

The rental property maintenance checklist below is not meant to be exhaustive. Each landlord will need to tailor a regular rental maintenance schedule based on his or her property.  Here are some examples of items that many good landlords do regularly.

1. Check for leaks, especially following strong rainstorms or after significant snowmelt. Water damage is the enemy of every landlord.
2. Replace air filters frequently.
3. Test smoke and carbon monoxide detectors regularly.
4. Check for pests quarterly if not monthly.
5. Re-caulk showers and bathtubs to prevent mold and leaks.
6. Tighten any handles, knobs, locks, faucets, etc.
7. Check fire extinguishers.
8. Flush water heater.
9. Clean gutters.
10. Trim or remove trees on the property threatening power lines or structures.

Landlords should also create rental maintenance schedules for bigger ticket projects, or capital expenditures, such as replacing carpets or repainting walls. The schedule will depend on the general wear-and-tear on each individual unit, but professional property managers recommend doing these sorts of projects (i.e., interior painting, carpet replacement) about every three years unless needed sooner.

Let us handle the hassle of rental property maintenance. Our experienced team can provide comprehensive property management services, ensuring your property is well-maintained and your tenants are satisfied. Call us today at (954) 545-3027 and follow us on Instagram @homesolutionspm.

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Reference: [https://www.mysmartmove.com/blog/rental-property-maintenance]

A lease is a legally binding contract that outlines the terms and conditions of a rental agreement between a landlord and a tenant. Understanding the contents of a lease is crucial for protecting your rights and responsibilities. As a family-owned business, we are dedicated to ensuring your family receives the highest quality of care available. Understanding the contents of a lease is crucial for protecting your rights and responsibilities. Here, you can find essential information on reading and understanding a lease agreement, including key clauses like rent amounts, lease duration, maintenance responsibilities, and terms for renewal or termination. Knowing these details ensures you make informed decisions that benefit you and your family.

Someday, between the time you move out of your childhood home and when buy your first residence, you’ll probably find yourself staring at a lease. A lease is a contract between someone who owns real estate (the landlord) and another person who occupies that piece of real estate (the tenant), covering the conditions under which the tenant may possess, occupy, and use the property.

Reading a lease can be befuddling, and often the first impulse is to just go ahead and sign the thing, rather than try to wade through and decipher all the legal language. However, it’s important to understand that a lease is a legally enforceable agreement, and you could find yourself in a predicament later on if you fail to abide by the terms–the very ones you agreed to by signing on the dotted line. Before you sign, take the time to read the entire document.

Here’s what to look for in a lease to rent a dwelling, be it an apartment or a house.

Include Property Details

The lease should include basic facts and data about the property, including the physical address and the landlord’s name and contact information. It should also state the date the lease was signed; the beginning and end dates of the rental period; and options for lease renewal, including policies for rent increases. If any appliances are in the unit (such as a range, refrigerator, or washing machine), or if the unit is furnished, that should be included, too.

Ensure a smooth rental experience with our property management services. Our knowledgeable staff can help you prepare and understand your lease agreement and prevent misunderstandings. Call us today at (954) 545-3027 and follow us on Instagram @homesolutionspm.

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Reference: [https://www.investopedia.com/articles/personal-finance/090315/millennials-guide-how-read-lease.asp]

Renting out your property can be a lucrative venture, but it’s essential to approach it strategically. There are numerous factors to consider, from finding reliable tenants to managing maintenance and finances. Check our tips below and partner with Home-Solutions. With our expertise in tenant screening, property upkeep, and financial management, you can enjoy the benefits of rental income without the daily stress.

Many people mull over the idea of renting out their homes. They may want the benefit of extra income to save money or pay down debt, or they may see it as an alternative to selling during a housing slump, a way to wait things out until the economy improves.

The motives are many, but renting may become more trouble than it’s worth when appropriate considerations aren’t made. Here are five steps that will get you going in the right direction.

If you are lucky enough to live in a tourist-friendly area, like near the beach or a major city, renting out your home as a short-term or seasonal rental may be an option, too. Before you list your property on a site geared toward short-term rentals, such as Airbnb or Vrbo, find out the rules and regulations for these types of rentals in your town and city.

1. Understand the Responsibility Involved

First, you must determine whether being a landlord is an obligation you can even handle. The benefits of renting are numerous, such as the ability to deter the vandalism that often plagues an empty home, the ease of tax breaks, and the ability to generate income that covers the bills and possibly even creates a profit.

However, being a landlord is also one more responsibility you’ll need to fit into your life, and it’s safe to assume that things will sometimes fail to run smoothly. You’ll need to stay on top of repairs and maintenance, collect rent, dole out more for your homeowners insurance policy, and try to avoid wear and tear on your property by keeping an eye on your tenant’s housekeeping skills.

Unlock the potential of your property. Our expert property management team can help you navigate the rental market with ease. From tenant screening to financial management, we’ve got you covered. Call us today at (954) 545-3027 and follow us on Instagram @homesolutionspm.

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Reference: [https://www.investopedia.com/articles/mortgages-real-estate/10/renting-out-home.asp]

Title: How to Increase Your Home’s Value

Whether you’re preparing to sell your house or rent it out, maximizing its value is key.  Strategic improvements can significantly enhance its appeal to potential buyers or tenants. Let’s explore the secrets to transforming your house into a highly sought-after haven!

Even in a seller’s market, where inventory is scarce and bidding wars are common, it still pays to invest some time and energy in positioning your home to sell for top dollar. This can involve a variety of steps, from working with a real estate agent who truly understands your local market to spending some money to make sure your home looks its best for buyers. Here are 10 tips for selling your home that Realtors say will separate you from the competition — and help you bring in a higher price.

1. Find a real estate agent

Working with a skilled local real estate agent who knows your area inside and out can help you sell your home more quickly, and often, for more money. In fact, data from the National Association of Realtors shows that between July 2022 and June 2023, homes listed without the assistance of a Realtor sold for a median price of $310,000, while those sold with one fetched a median of $405,000. Interview several candidates before you commit to one agent — the better you get along, the smoother the process is likely to be.

2. Invest in value-adding improvements

Determining which home improvements to invest in can be daunting, and the costs can add up quickly. The key is to spend your money on projects that will provide the most return on your investment.

Minor kitchen upgrades are typically a wise choice, says San Diego–area Realtor Jade Lee-Duffy. “The heart of the home is the kitchen, and many buyers will judge a property by its kitchen,” she says. Just don’t go overboard: “While a complete overhaul of this space can run into the tens of thousands, a minor update is where you can gain the greatest return,” she says. “Think about resurfacing cabinets, replacing countertops, a fresh coat of paint or updating the fixtures and hardware.”

Updating a bathroom is another smart investment, says Katie Severance, a Realtor with Douglas Elliman in Palm Beach, Florida, and author of “The Brilliant Home Buyer.” “Renovated kitchens and baths are the ‘money rooms’ — those that add the most value to a home,” she says.

3. Up your curb appeal

As the saying goes, you don’t get a second chance to make a first impression. “Make sure your front yard is free of debris, the bushes are pruned and the grass has been cut,” says Lee-Duffy. “Also, add some bright potted plants by the front door to make buyers feel welcome.”

Some other easy updates that can improve curb appeal include:

• Touching up exterior paint
• Adding window flower boxes
• Installing a new mailbox
• Adding new mulch around shrubs and trees
  

4. Get a pre-listing inspection

Investing in a home inspection before putting your property on the market is another step to consider. “You don’t want any unexpected surprises,” says Lee-Duffy. “It’s best to find out beforehand if there are any issues that you can fix, before buyers find out on their own.” That would give them negotiating power for a lower price or, worst case scenario, a reason to back out of the deal. So it may be worth a few hundred dollars for the peace of mind.

There is, however, a downside to a pre-listing inspection: “Beware, because once a seller becomes aware of an existing defect and does not correct it prior to listing, they are obligated to disclose it to a buyer,” says Severance. “Defects that a buyer learns were known but not disclosed, prior to accepting an offer, can kill the deal.”

5. Highlight the positive with professional photos

Spending a bit of money on high-quality photography can go a long way toward helping your home sell for a higher price. “The majority of people search for properties online,” says Lee-Duffy. “If the photos pop, it can translate into a higher sale price — and sell faster, too.”

It’s OK to leave some things to the imagination when it comes to your home’s online listing, though. “I advise against photographing every square foot of the home,” says Severance. “The goal of photographs is not to give all the goodies away online; it’s to make a buyer want to see more — to whet their whistle enough to entice them to see it in person. If they don’t come see the house, they probably aren’t making an offer.”

6. Stage your home

When it comes to home staging, says Severance, there are two rules of thumb: less is more and keep it neutral. “It’s very important to capture buyers’ interest from the front door,” she says. “Pay extra attention to the entry: Repaint; place flowers; buy a new area rug, an impressive mirror or a dramatic piece of art.”

Remove objects and clutter that visually shrink a room, such as large ottomans or too many plants, and remove everything from the kitchen counters except for one or two new-looking appliances. “And don’t forget to stage the deck or patio, because that is an extension of the house that can make a small home feel much larger than it is,” Severance adds.

You can do the staging work on your own or up the ante by hiring a professional stager.  A pro will average around $1,800, according to HomeAdvisor.

7. Set the right asking price

Identifying the best price for your home can be critical to your success. “Setting the price too high can be detrimental and prevent buyers from walking through your front door,” says Lee-Duffy.

How do you find that sweet spot of pricing for profit but not overpricing? The expertise of your agent can be truly valuable here. A knowledgeable agent will understand fair market value in your area, how much your house is worth and how much you might reasonably expect to get for it in the current market.

“Good pricing requires the expertise to thread the needle,” says Severance. “List at a number that is lower than comparable properties, in order to draw attention to it, but not so low that you will be disappointed if you only get one offer right at list price.” If enough buyers are enticed, you might even set the stage for a bidding war.

8. Remove personal items

“The goal of any showing is for the buyer to envision their own belongings in the space,” says Severance. So, while family photos and other knickknacks might seem like they have no bearing on how much money your home commands, they really do matter — especially if you are still living in the home while you’re trying to sell it.

If buyers are distracted by personal items, then chances are they won’t be able to see themselves in the space, and will not end up making an offer. “Buyers are thinking of their own furniture, where it will go and how it will fit. It’s the house they came to see, not the items inside of it,” she says.

9. Be ready to move fast

Once your property is listed on the market, things can happen quickly. It’s important to be well prepared ahead of time so that you can be as responsive as possible to potential offers. “Fill out all the necessary documents, such as any seller disclosures, and have paperwork for recent repair work, home renovation costs and utility bills on-hand for any buyer requests that come in,” says Lee-Duffy.

Sellers who are slow in reaction time or unresponsive can lose buyers, adds Severance. “If the buyer feels that they are not being dealt with fairly, they are very likely to walk away,” she says.

10. Use your head, not your heart

Finally, try to remove emotion from the equation and see the process as a simple transaction — your home is no longer “home” but a product for sale. It’s not unusual for prospective buyers to request credits or repairs, and it’s easy as a seller to take offense, so try to have a clear understanding of what issues and items you may be willing to make concessions on.

“It’s important to take emotion out of it and remember that the buyer usually doesn’t expect to get everything they ask for,” says Severance. “Take a closer look at which requests are valid and fair, and offer something. The cost to you is not in giving the concession — it’s the expense of losing the buyer, putting the property back on the market, starting all over again and getting a potentially lower offer.”

Maximize your rental income! Our team of professionals will help you prepare your property for the rental market, set the right rental price, and find qualified tenants. Call us today at (954) 545-3027 and follow us on Instagram @homesolutionspm.

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Reference: [https://www.bankrate.com/real-estate/tips-for-selling-home/#fast]

Are you excited to embark on a new chapter? Our tips below are your roadmap to a stress-free and successful sale. Unlock the secrets to a smooth and joyful selling experience with Home-Solutions.

Even in a seller’s market, where inventory is scarce and bidding wars are common, it still pays to invest some time and energy in positioning your home to sell for top dollar. This can involve a variety of steps, from working with a real estate agent who truly understands your local market to spending some money to make sure your home looks its best for buyers. Here are 10 tips for selling your home that Realtors say will separate you from the competition — and help you bring in a higher price.

1. Find a real estate agent

Working with a skilled local real estate agent who knows your area inside and out can help you sell your home more quickly, and often, for more money. In fact, data from the National Association of Realtors shows that between July 2022 and June 2023, homes listed without the assistance of a Realtor sold for a median price of $310,000, while those sold with one fetched a median of $405,000. Interview several candidates before you commit to one agent — the better you get along, the smoother the process is likely to be.

2. Invest in value-adding improvements

Determining which home improvements to invest in can be daunting, and the costs can add up quickly. The key is to spend your money on projects that will provide the most return on your investment.

Minor kitchen upgrades are typically a wise choice, says San Diego–area Realtor Jade Lee-Duffy. “The heart of the home is the kitchen, and many buyers will judge a property by its kitchen,” she says. Just don’t go overboard: “While a complete overhaul of this space can run into the tens of thousands, a minor update is where you can gain the greatest return,” she says. “Think about resurfacing cabinets, replacing countertops, a fresh coat of paint or updating the fixtures and hardware.”

Updating a bathroom is another smart investment, says Katie Severance, a Realtor with Douglas Elliman in Palm Beach, Florida, and author of “The Brilliant Home Buyer.” “Renovated kitchens and baths are the ‘money rooms’ — those that add the most value to a home,” she says.

3. Up your curb appeal

As the saying goes, you don’t get a second chance to make a first impression. “Make sure your front yard is free of debris, the bushes are pruned and the grass has been cut,” says Lee-Duffy. “Also, add some bright potted plants by the front door to make buyers feel welcome.”

Some other easy updates that can improve curb appeal include:

• Touching up exterior paint
• Adding window flower boxes
• Installing a new mailbox
• Adding new mulch around shrubs and trees
  

4. Get a pre-listing inspection

Investing in a home inspection before putting your property on the market is another step to consider. “You don’t want any unexpected surprises,” says Lee-Duffy. “It’s best to find out beforehand if there are any issues that you can fix, before buyers find out on their own.” That would give them negotiating power for a lower price or, worst case scenario, a reason to back out of the deal. So it may be worth a few hundred dollars for the peace of mind.

There is, however, a downside to a pre-listing inspection: “Beware, because once a seller becomes aware of an existing defect and does not correct it prior to listing, they are obligated to disclose it to a buyer,” says Severance. “Defects that a buyer learns were known but not disclosed, prior to accepting an offer, can kill the deal.”

5. Highlight the positive with professional photos

Spending a bit of money on high-quality photography can go a long way toward helping your home sell for a higher price. “The majority of people search for properties online,” says Lee-Duffy. “If the photos pop, it can translate into a higher sale price — and sell faster, too.”

It’s OK to leave some things to the imagination when it comes to your home’s online listing, though. “I advise against photographing every square foot of the home,” says Severance. “The goal of photographs is not to give all the goodies away online; it’s to make a buyer want to see more — to whet their whistle enough to entice them to see it in person. If they don’t come see the house, they probably aren’t making an offer.”

6. Stage your home

When it comes to home staging, says Severance, there are two rules of thumb: less is more and keep it neutral. “It’s very important to capture buyers’ interest from the front door,” she says. “Pay extra attention to the entry: Repaint; place flowers; buy a new area rug, an impressive mirror or a dramatic piece of art.”

Remove objects and clutter that visually shrink a room, such as large ottomans or too many plants, and remove everything from the kitchen counters except for one or two new-looking appliances. “And don’t forget to stage the deck or patio, because that is an extension of the house that can make a small home feel much larger than it is,” Severance adds.

7. Set the right asking price

Identifying the best price for your home can be critical to your success. “Setting the price too high can be detrimental and prevent buyers from walking through your front door,” says Lee-Duffy.

How do you find that sweet spot of pricing for profit but not overpricing? The expertise of your agent can be truly valuable here. A knowledgeable agent will understand fair market value in your area, how much your house is worth and how much you might reasonably expect to get for it in the current market.

“Good pricing requires the expertise to thread the needle,” says Severance. “List at a number that is lower than comparable properties, in order to draw attention to it, but not so low that you will be disappointed if you only get one offer right at list price.” If enough buyers are enticed, you might even set the stage for a bidding war.

8. Remove personal items

“The goal of any showing is for the buyer to envision their own belongings in the space,” says Severance. So, while family photos and other knickknacks might seem like they have no bearing on how much money your home commands, they really do matter — especially if you are still living in the home while you’re trying to sell it.

If buyers are distracted by personal items, then chances are they won’t be able to see themselves in the space, and will not end up making an offer. “Buyers are thinking of their own furniture, where it will go and how it will fit. It’s the house they came to see, not the items inside of it,” she says.

9. Be ready to move fast

Once your property is listed on the market, things can happen quickly. It’s important to be well prepared ahead of time so that you can be as responsive as possible to potential offers. “Fill out all the necessary documents, such as any seller disclosures, and have paperwork for recent repair work, home renovation costs and utility bills on-hand for any buyer requests that come in,” says Lee-Duffy.

Sellers who are slow in reaction time or unresponsive can lose buyers, adds Severance. “If the buyer feels that they are not being dealt with fairly, they are very likely to walk away,” she says.

10. Use your head, not your heart

Finally, try to remove emotion from the equation and see the process as a simple transaction — your home is no longer “home” but a product for sale. It’s not unusual for prospective buyers to request credits or repairs, and it’s easy as a seller to take offense, so try to have a clear understanding of what issues and items you may be willing to make concessions on.

“It’s important to take emotion out of it and remember that the buyer usually doesn’t expect to get everything they ask for,” says Severance. “Take a closer look at which requests are valid and fair, and offer something. The cost to you is not in giving the concession — it’s the expense of losing the buyer, putting the property back on the market, starting all over again and getting a potentially lower offer.”

Time to sell your house? We understand the need for speed and fairness. Connect with us, and together we’ll guide you on this journey to a swift and equitable deal. Call us today at (954) 545-3027 and follow us on Instagram @homesolutionspm.

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Reference: [https://www.bankrate.com/real-estate/tips-for-selling-home/#fast]