Category: Home Solutions

Home automation is here to make your life more convenient, efficient, and enjoyable. Imagine being able to control your lights, thermostats, security, and entertainment systems with just a tap on your smartphone or a voice command. Dive on a journey through the incredible advantages of home automation, from saving time and energy to enhancing your home’s security and entertainment.

We live in a time unlike any other. With so many technological advancements at our fingertips, our lives are made easier, which is fortunate considering the fast-paced lives most of us lead. In recent years, great strides have been made in making homes a bit more “tech savvy.” This technology, in short, allows the homeowner to run his or her home while away through a remote, often on a Smartphone or iPad. In fact, these homes have been labeled as being “smart,” due to the fact that they can seemingly think on their own. This ability to “think,” also known as being an automated home, helps homeowners in a number of ways: 10, in fact. What are the ways in which a home automation system can benefit you?

Benefit # 1 – Adds Safety Through Appliance and Lighting Control

Another home automation advantage is added safety for both your family and home. You have the ability to control the small appliances and lighting, again with the simple tap of your finger on your favorite technological device. You can always check to make sure your daughter turned off her curling iron or ensure that your oven has been flipped off from the morning family breakfast. Your home and family also enjoy an added measure of safety through your ability to control the lights in your home. Not only does this allow you to make sure lights are off when you are gone to save electricity, it also allows you to turn them on at specific times if you would like it to look like you are home. This also helps increase the safety and security of your home.

Benefit # 2 – Secures Home Through Automated Door Locks

Perhaps one of the greatest benefits of an automated system in your home is automated door locks. How often have you left for work in the morning only to realize that you forgot to lock your front door? Through an automated system, you can lock your doors with the tap of your finger. This quickly eases your mind, so you can focus on your day’s work rather than who may or may not be entering your home. This is also a great benefit for you if you have to leave to work before your children leave for school. Often, children run out the door to catch the bus and forgot to lock the door. You can easily have control of the situation by locking the door from your office each day. The fact that you can be alerted each time someone enters your home also allows you to monitor who is entering your home at all times, even when you are not there.

Benefit # 3. – Increases Awareness Through Security Cameras

Unfortunately, we just cannot be everywhere at once. This means that we often miss things that happen, perhaps even in our own home or yard. With a home automation system, you can easily see what is happening. Now you can make sure no unwelcome guests arrive unbeknownst to you or your family. Security cameras increase family safety by recording clips when detecting movement or at specific times of the day or night.

Benefit # 4 – Increases Convenience Through Temperature Adjustment

Often, we leave for work early in the morning and forget to adjust our thermostat. As a result, we come home to a house that is severely too hot or too cold. This is inconvenient, as it usually takes a good amount of time for the household temperature to increase or decrease after being adjusted. However, with a home automation system, you can simply adjust the thermostat from the convenience of your office a few hours before heading home. This is both cost effective and saves on energy, and it helps you stay “on top of” your life when you have run out the door first thing in the morning without considering much else besides arriving to work on time.

Benefit # 5 – Saves Time

It is no secret that today’s world is busier than in days past. If you are like most people, you are constantly running from place to place, working to accomplish everything on your never-ending “to-do” list. Because of the high-tech nature of a home automation system, you never have to worry about running home to open the door for your children after school or making a quick stop at home in order to adjust household items. In short, you easily save precious time and experience more daily productivity.

Benefit # 6 – Saves Money and Increases Convenience

As mentioned earlier, a home automation system saves money. The most beneficial impact the system will have is on your monthly utility bill. No longer will you be spending money for household appliances left on in your family’s absence. You will also save on gas costs, as you will never need to stop by the house in order to turn something off or on. This is certainly convenient. You will have complete control to make sure costs are low without exerting any additional effort.

Benefit # 7 – Contributes to Economy

Simply put, you are contributing to the economy when you purchase and utilize a home automation system. You ensure that you are only using the energy and resources that are necessary while you are home.

Benefit # 8 – Increases Peace of Mind

Perhaps this benefit will not apply to everyone, but for those who habitually worry about whether or not they have taken care of everything at home before leaving for the day, a home automation system is a perfect investment. In short, it offers peace of mind. This is quite beneficial for those individuals who leave each day, obsessively worrying if everything is in order. With so many stresses in daily life, it is nice to take at least one off the list by being able to see what is going on at home without physically being there.

Benefit # 9 – Allows You Control When Out of Town

Have you ever gone out of town and given a key to a neighbor? Many do this in order to allow the neighbor to perform household chores that cannot be neglected such as feeding the plant, taking care of the dog, or delivering the mail. A home automation system allows you just a bit more control than simply turning over a key, which is a great relief to some homeowners. You can easily set up a time for the person to enter your home and let him or her in yourself through your smartphone or iPad.

This allows you to stay in control of the situation. You no longer need to worry about the neighbor losing that key or having complete, unrestrained access to your belongings. In addition, you can make sure the chores are actually being completed, so you do not have any surprises when you return home.

Benefit # 10 – Keeps Tabs On Your Children

Through the home automation system, you can easily keep tabs on your children. You can ensure that they make it safely into the house each night, letting them in without getting out of bed to greet them. You can also see their comings and goings on security cameras, as well as make sure the porch is lit when they arrive home.

This helps you keep them safe, as well as helps you know what they are up to each day, which can be quite helpful for a busy parent. In sum, investing in a home automation system will benefit you in several ways. It is cost effective. It will save you time and energy. And perhaps the most important? It will keep you and your family safe and your home secure.

Home Solutions is the go-to for all your South Florida real estate needs. With our top-notch home property management, you’ll get the results you’ve been dreaming of quickly and effortlessly. Call us today at (954) 545-3027 and follow us on Instagram @homesolutionspm.

Reference: [https://www.mymove.com/smart-home/top-benefits-of-automating-your-home/]

As millennials continue to come of age and enter the housing market, their influence on real estate trends has become increasingly evident. From preferences in location to technological advancements, this article explores the profound impact of millennials on the housing market. Gain insights into how the real estate industry is adapting to meet the needs and expectations of this influential generation.

“It’s not a good time to buy”—it’s a phrase that has echoed throughout the U.S. over the past year or two. Shockingly low housing inventory, high price tags and record-setting interest rates are making it tough for some would-be buyers to achieve homeownership.

As an executive in the mortgage services industry for many years, I know that it’s critical to understand how and why borrowers react to the ebbs and flows in market conditions. One of the ways my company keeps the pulse of today’s buyers and homeowners is by producing an annual consumer survey. This year’s survey found that many have abandoned the homebuying process over the last few years.

In fact, 49% of all respondents considered buying but ultimately decided against it. That’s more than double the number who said they abandoned the process in the 2022 study. Another 22% took it a step further and actually attempted to buy a home but were unsuccessful. Housing prices and high mortgage rates were the main deterrents in both instances.

However, despite the obvious factors that would disqualify and discourage some buyers, there’s a generation that is particularly adamant about achieving their homeownership goals.

Last year, I wrote an article where I laid out the depth of determination of the Millennial homebuying cohort. It touched on areas where they’re willing to take a leap of faith and how to best serve them in the 2022 market and climate. In this current article, I’d like to dive a little deeper, with even more insight into how they’re currently shaping the market, moving forward and making a name for themselves in the history books.

Optimistic Outlook

When many are retreating, Millennials (born between 1981 and 1996) are forging ahead. They’re not afraid to test the waters when others are telling them it’s not a good time. Why? It all comes down to their optimistic outlook. In the study, 60% of Millennials said conditions are favorable for buying a home compared with 53% for Gen-Z and 46% for Gen-X. Baby boomers, by the way, had the least positive outlook, and 53% said conditions were not favorable for buying.

Additionally, 61% of Millennials surveyed said they planned to buy a home in 2023; this flies in the face of those who still want to categorize them as the renter generation. In fact, Money reports there are now more Millennial homeowners in the U.S. than Millennial renters at 18.2 million and 17.2 million, respectively. Homeownership by this generation has spiked 64% over the past five years.

Willing To Give And Take

In my many years in the mortgage and transactional services business, I’ve seen quite a few trends emerge from this generation. While many Millennials may have purchased during the days of the pandemic when mortgage rates were historically low, those in the market today still overall desire to secure a slice of the American dream—even if it’ll cost them.

Considering the tight supply and competition right now, it appears they’re willing to pay higher price tags and interest rates in order to not lose out on the home they really want (the one with additional square footage, office space, tech upgrades, etc.). I believe that Millennials are savvy enough to know that when rates drop, they can refinance and secure a lower rate (and subsequent mortgage payment). In other words, they’re not afraid of a little short-term suffering for long-term gain, at least with respect to achieving homeownership.

In my company’s study, millennials led the pack, with 57% saying they were “very likely” or “likely” to refinance in 2023. That’s compared to 48% for Gen-X and 44% for Gen-Z. Millennials also refinanced in the highest numbers over the past three years. This continues the trend that other surveys show, where Millennials refinanced at almost double the national average in 2021. I see refinancing as a tool they’re not only using but planning to use when rates drop down into more favorable territory.

Opportunistic Group

Inventory is tight right now. In fact, one report shows that housing volume is only about half of what it was before the pandemic. Even when faced with availability issues, Millennials tend not to be afraid to look elsewhere for alternative housing options. Their resourcefulness has led to an uptick in interest in the auction market, for example, with 39% of Millennials surveyed saying they’re open to buying a house at auction.

That number was even higher (55%) in last year’s study, suggesting that the appetite for such properties remains healthy. Gen-Z, the up-and-comers behind Millennials, are equally as interested in auction properties at 39%.

How To Best Serve Millennials

Considering the evidence that shows they’re market savvy and eager to take the plunge into homeownership, how do we best serve this powerful generation?

If they’re in the market to buy a home or refinance, lenders should find ways to position themselves as proactive, trusted sources that provide information, direction and access. Survey results indicate this generation is most likely to lean on real estate agents and lenders during the home-buying process.

Additionally, I’ve found that Millennials crave transparency. When asked what they’d change about their mortgage experience, transparency into the steps and fees ranked highly. This underscores the importance of providing relevant information so they can make clear, informed decisions.

And finally, fit into their consumption patterns. These are digital natives who buy, sell and do business on their phones and tablets without batting an eye. They expect forward-thinking solutions that align with their digital lifestyle. In other words, electronic signing capabilities, virtual closing options and the like are more likely to get their attention.

Millennials have made their mark on the housing market, and I suspect they’ll be a force for several more years. However, it’s up to the rest of us within the industry to carefully consider how to better serve both this and future generations of trendsetting homebuyers.

Navigate the changing tides of the housing market with Home Solutions Property Management. Embark on your real estate journey with confidence and success! Call us today at (954) 545-3027 and follow us on Instagram @homesolutionspm.

Reference: [https://www.forbes.com/sites/forbesbusinesscouncil/2023/08/31/going-against-the-grain-millennials-impact-on-the-housing-market/?sh=7d62f4fd2956]

If you’re a homeowner seeking to maximize the appeal of your properties, we’ve got some tips. From modern amenities to energy-efficient features, discover how these strategic enhancements can elevate your property’s allure and position it as a sought-after gem in the rental market. If you would like to speak with us and gain our insights first-hand, we are here — and have been doing this in excellence for many, many years. Give us a call!

Ready to take your property’s rental potential to the next level? Let our professional experts guide your home property management. Call us today at (954) 545-3027 and follow us on Instagram @homesolutionspm.

Reference: [https://americanlifestylemag.com/real-estate/buying-selling/5-smart-upgrades-that-increase-your-homes-appeal/]

Becoming a landlord can be a rewarding venture, providing a steady source of income and the opportunity to invest in real estate. However, it can also be a complex and challenging endeavor, especially for beginners. We bring you this beginner’s guide to help you with essential tips, strategies, and best practices.

Taking on the role of landlord is a huge undertaking. You have renters to find (and trustworthy ones at that), a property to look after, and being the go-between for the many different people involved in this process. Follow these tips to ensure that being a landlord is rewarding, rather than being a headache-inducing responsibility.

Screen tenants properly

Too often, landlords don’t screen potential tenants as thoroughly as they should, often causing mishaps further down the line. Don’t get so bogged down by other responsibilities that you forget to screen the people who will be living in your property. Look at credit scores, references, and if they have adequate employment before moving forward with an application.

Don’t short yourself

Your profit is coming from the rent, so make sure you’re charging the right amount to maximize your revenue. Look at the comps in the area, as well as accounting for any renovations you made to the space, and set the amount accordingly. You don’t want to short-change yourself, especially after the contract is signed and rent is locked into place.

Be as organized as possible

When it comes to managing a property and the tenants who live there, spreadsheets are your best friend. Keep track of important documents, make copies of everything, and stay on track with the various transactions and events that pop up throughout this process. You don’t want to be scrambling at the last minute if anything were to come up.

Make your guidelines clear

All of your rules and regulations should be outlined in the lease, but remember to reiterate in person. This is especially important concerning any pet restrictions, what day of the month rent is due, and what (or if) interior changes can be made to the space. Having these guidelines in writing is important, but it’s even more crucial to emphasize in person before the lease is signed.

Embark on a profitable journey as a landlord. Home-Solutions can help you navigate your home property management. With our services, you can enjoy the benefits of rental income without the hassle. Call us today at (954) 545-3027 and follow us on Instagram @homesolutionspm. We are here for your questions! Let’s talk!

Reference: [https://americanlifestylemag.com/real-estate/buying-selling/beginners-guide-landlord/]

Investing in real estate can be a lucrative venture, and owning an apartment building is an excellent option when seeking a long-term and stable investment. Aside from the potential for significant financial returns, an apartment building provides several other benefits, such as providing a consistent income, increasing and diversifying your existing portfolio, and the opportunity to increase your overall assets.

1. Steady Rental Income:

One of the most attractive aspects of owning an apartment building is the potential for steady rental income. Unlike single-family properties, apartment buildings offer multiple rental units, which means multiple sources of income. With proper management, you can ensure a consistent cash flow that can help cover mortgage payments, operating expenses, and generate a profit.

2. Scale and Portfolio Diversification:

Owning an apartment building allows investors to scale their real estate portfolio. Instead of investing in individual properties, an apartment building offers the opportunity to own multiple units under one roof. This scale not only provides greater potential for returns but also diversifies your investment. With a variety of tenants and rental units, the risk is spread across different income sources, reducing the impact of any single vacancy or non-payment.

3. Appreciation and Asset Building:

Real estate has historically appreciated over time. While there are market fluctuations, owning an apartment building can lead to long-term wealth building. As property values increase, so does the equity in your investment. Additionally, you can leverage this equity to secure financing for future investments or property improvements, further enhancing your portfolio’s growth potential.

Owning an apartment building as an investment has its advantages. However, the management of the property is vital to ensure profit; therefore, it’s crucial to consider the responsibilities and challenges associated with property management. Managing an apartment building involves tasks such as tenant screening, lease agreements, rent collection, maintenance, and addressing tenant concerns—and apartment rental agents can take care of it all! Our team is well-versed in property management and can navigate any potential problems that may come your way. Follow us on Instagram or give us a call at 954.545.3027 to see how we can help optimize your investment..

Renting out your home can be a great way to earn extra income, especially if you’re not using the space yourself. However, becoming a landlord can also be daunting, especially if you’re unfamiliar with the process. This article will provide a comprehensive guide to renting out your home, covering everything you need to know. And remember — taking care of the details — all the details — is what we do, in excellence. So don’t let the process feel too daunting, we can take care of it all for you! Just give us a call to discuss!

The time has come. You bought an investment property. You upgraded the cabinets, patched up the walls, and put in fresh new carpets. Finally, you are ready to start renting out your house — or are you?

As a first-time landlord, you might be wondering what do you need to rent a house and feeling a little bit anxious about choosing the right tenant and entering into a binding lease agreement with them. After all, you may be stuck with them for a while. There are requirements to rent a house that you need to be aware of, and the process of renting a house can seem overwhelming at first. But as a new landlord, learning how to deal with unexpected situations goes with the territory. To help you on your journey, follow these steps to renting an apartment, and you will be well on your way toward managing your rental like a pro.

Set your price and paperwork.

Figuring out how much would my house rent for starts with evaluating your property. One of the first things you need to do is to establish a fair market price for your rental. The best method is to research comparable rental properties in the area. Choose other rental homes that have similar features and amenities to yours for a more accurate comparison.

Another thing that is absolutely essential to do before listing your rental is to make sure you have an ironclad understanding of state and federal fair housing laws. The Federal Fair Housing Act makes it illegal to discriminate against tenants on the basis of race, color, national origin, religion, sex, familial status, or disability. Know that various states have laws that protect additional classes. In practice, this means you need to be very careful in how your rental listings are worded. For example, saying your home is “great for families” would be a violation as it potentially discriminates based on familial status.

Finally, you’ll need to prepare a rental application and a lease agreement. The lease is a binding agreement between you and the tenant that grants them the right to inhabit and use the property. It also outlines the duration of the lease, the monthly rental amount, any fees, and policies — such as whether pets are allowed or not. Because state laws vary, you’ll need to make sure that any lease or application form you choose conforms to the laws where your rental is located. To be on the safe side, consider getting an attorney to draft these documents for you.

Consider ways to boost your investment.

• Add solar panels: The addition of solar panels not only appeals to conscious tenants but lowers utility costs as well. Google’s Project Sunroof can calculate the savings potential for your home.
• Adding rental storage spaces: Adding additional storage space, such as a backyard shed, is an amenity that can boost the rental amount. If you have a tenant that isn’t interested in the storage space, you could rent it out to someone else for storage only.
• Make it pet friendly: While you might be inclined to not allow pets because they might cause damage, any incidents are typically covered by rental deposits and by the best landlord insurance policies. By allowing pets you will widen your potential tenant pool and can earn additional income by charging pet rent.
• Include a washer/dryer: An in-unit washer dryer is one of the most sought-after amenities. Some renters won’t even consider your home without it. Having one in the unit or house will allow you to charge more for rent each month.
• Don’t neglect the yard: Curb appeal matters when it comes to rentals. Great-looking landscaping can help you command higher rents. Outdoor living spaces such as patios, decks, and fire pits, can add value as well.

Get listed.

The moment you’ve been waiting for — advertising your rental. There are a handful of methods for getting bites on your property, but we will start with the most basic first. If you’re lucky, putting a “For Rent” sign out front might be all it takes. But unless your property is on a busy street, you might be waiting a while. Classifieds in your local paper are the next logical step. You can also list on Craigslist or rental listing aggregators like Apartments.com for a small fee.

Your other option is to hire a real estate agent who will tell you exactly how to become a landlord — by finding you a tenant. Realtors typically charge anywhere from half a month’s rent up to the full monthly rental rate as a commission. This might seem steep, but could be worth it if your rental is in a particularly competitive market and you are having trouble attracting tenants on your own.

You may also potentially be able to list on a home rental site like Streeteasy. The site includes all of New York and its boroughs, and you can set up listings to include what amenities you’re offering, any limitations your property has, and more. Streeteasy also allows you to upload photos and videos of the property and show potential tenants the surrounding neighborhood, all for a small fee. You can also work with a brokerage to list here. Other areas also have sites similar to this, Apartments.com, and even Zillow that can help you find tenants more quickly.

Conduct tenant screenings.

Once you find a prospective tenant, you’ll need to screen them. This primarily involves checking their credit report, verifying their income, and looking to see if they have any criminal convictions. You will also want to ask about their previous rental history. What minimum standards you are willing to accept is up to your discretion, but it is a good idea to have those in writing so they are applied equally to all prospective tenants.

Primarily you will want to avoid running afoul of fair housing laws, so make sure you don’t ask any questions that could be considered discriminatory, whether in person, on the phone, or in a rental application. Some questions you can ask include:

• How many other occupants will be living with you?
• What do you do for work?
• Why are you moving?
• Do you own any pets?

Set up your payment portal.

When putting the lease together you’ll need to let your tenant know how rent is to be paid. As a landlord, you can generally choose which forms of payment you are willing to accept, but it must be written into the lease. For example, you may choose not to accept cash or personal checks. You also need to establish not only when rent is due every month, but also how rent can be paid, whether it is by mail, placed in a drop-off box or via a payment portal.

In addition to the previous, you should also establish a policy for late rent. Oftentimes, landlords provide a grace period, allowing rent to be paid up until the third or fifth of the month, but it’s important to have a fee schedule in place in case your tenants don’t pay rent on time. This can be up to your discretion, but including it in the rent will make it clear to the tenants.

Many landlords are opting to accept payments via online payment portals. These are becoming more commonplace as landlords discover the reliability they offer in terms of collections. Some platforms are free for landlords to use, while others offer more robust features for a nominal fee. Including this information in the lease packet for a new tenant will make sure you’re both on the same page.

Ready to take the hassle out of managing your rental property? We’re here to help! Our team can maximize your investment and minimize your stress. From managing showings to timing rent collection — we do it all for you. Let us know if you have any questions. Call us today at (954) 545-3027 and follow us on Instagram @homesolutionspm.

Reference: [https://www.mymove.com/moving/renters/how-to-rent-out-a-home/]