Wit Ventures: Tips for Real Estate Investors.

Sunday 12 November 2017

Tips for Real Estate Investors.

Are you a real estate investor looking to take proper care of your rental properties?

Maybe you’ve purchased your first rental property and are preparing for your tenants.

To keep costs down and ensure that your tenants are living comfortably, you need to keep your properties in good condition.

Performing preventive maintenance on your investment properties will keep you from paying costly utilities, damage repairs, and renovations.

Being a landlord can be a headache, so to help you prepare, here are 5 preventative maintenance tips to keep your rental property in tip-top shape!

1. Know Your Tenants

Before signing a lease, always have a clear understanding of who you are renting to.

You may have a different set of expectations if you rent to college students vs renting to a retired married couple.

Having an idea of your ideal tenant can help you prepare your lease agreement and plan preventive maintenance needs for the property.

2. Communicate

When signing a lease, be sure that future renters understand their responsibilities and obligations when it comes to the upkeep of the property.

Set rules in place to ensure the life of your home, features, and appliances.

For example, if you don’t want to be dealing with heavy carpet cleaning on a regular basis, consider having a 'no pets' rule in the leasing agreement.

Link to the rest here.

Image: By Kim Traynor - Own work, CC BY-SA 3.0,

Thank you for reading.

No comments:

Post a Comment

Shirley D. Neal

Shirley has over 30 years of experience in such diverse businesses as financial planning, manufacturing, and supply. Her education includes a B.A., B.ED., M.ED., C.F.P., N.L.P. and the home inspector’s course as well as having her AZ license for five years. Her family home has given her and her husband the opportunity to do extensive renovation and repairs thereby increasing the value about $100,000 in ten years. She has been able to see firsthand how much a sensible and cost efficient renovations can add to the value of a home. Shirley has chosen joint ventures because she thinks that her experiences an help others achieve their goals and maximize the profits for both parties. In 1979, Shirley became involved in a small group of women who started a metal manufacturing company making small deep drawn metal parts for the automobile companies in Windsor. They took the company from start up to over $400,000 in sales in five years. That was a lot of parts since the parts sold for only five cents per each. In 1985 they sold the company to one of their customers. Whether it was selling mutual funds, teaching foster parents how to recruit foster parents, or working for Tony Robbins, Shirley has put more than 100 percent into every endeavour she was involved in.