# Home365 --- ## Pages - [Open Kimono Podcast - Mark Brower](https://www.home365.co/podcast/podcast-unlock-asset-value-property-management/): Explore proven property management strategies to maximize rental returns and unlock true asset value. In this episode, Home365 CEO Daniel Shaked and Mark Brower reveal how top firms transform rentals into wealth‑building engines. - [Open Kimono Podcast](https://www.home365.co/podcast/): Your Free, Comprehensive Property Management Software for Efficient and Transparent Operations. Everything you need to manage your single-family rentals is right here. - [Partner With Home365 Real Estate Agents](https://www.home365.co/partner-with-home365-rea/): Are you a property management company owner looking for a growth partner? We’re ready to help you scale and grow in your market and beyond! - [calculator](https://www.home365.co/calculator/): Free NOI Calculator to easily determine the Net Operating Income for property owners—just enter your monthly rent, and it takes care of the rest. - [Profit Protect](https://www.home365.co/profit-protect-new/): Home365's Profit Protect plan guarantees rent and covers repairs, offering hands-off investors the confidence that their property and income are fully protected - [Home365 reviews](https://www.home365.co/reviews/): Check out how satisfied home365's customers are with some of their reviews. Join the leading property management solution and be a happy client as well! - [Statement of commitment](https://www.home365.co/statement-of-commitment/): Discover our commitment to high-quality property management services. We ensure homeowners enjoy a hassle-free real estate investment experience. - [Owner Portal](https://www.home365.co/owner-portal/): Your Free, Comprehensive Property Management Software for Efficient and Transparent Operations. Everything you need to manage your single-family rentals is right here. - [Your Partner in Property Maintenance](https://www.home365.co/servicepro/): Are you a property management company owner looking for a growth partner? We’re ready to help you scale and grow in your market and beyond! - [Join our TaskForce](https://www.home365.co/gigs/): Are you a property management company owner looking for a growth partner? We’re ready to help you scale and grow in your market and beyond! - [Referral Agreement](https://www.home365.co/referral-agreement/): Are you a property management company owner looking for a growth partner? We’re ready to help you scale and grow in your market and beyond! - [Partner With Home365](https://www.home365.co/forum/): Are you a property management company owner looking for a growth partner? We’re ready to help you scale and grow in your market and beyond! - [Invest like a Master](https://www.home365.co/invest-like-a-master/): Are you a property management company owner looking for a growth partner? We’re ready to help you scale and grow in your market and beyond! - [Property Management Re-Invented](https://www.home365.co/hebrew-landing/): יותר רווחי, חזוי ויעיל OneRate חברת ניהול נכסים חדשנית וטכנולוגיתשנותנת לכם רשת ביטחון רחבה מפני בעיות עתידיות של הנכס בתעריף... - [Residents FAQ's](https://www.home365.co/residents-faqs/): Learn about US growth markets with Home365 a property management company that leverages the latest data & tech to make investing easy. Read our FAQs! - [Traditional PM & Brokerage Agreement](https://www.home365.co/traditional-agreement/): T&C last update: April 2021 – V1004 Traditional Property Management and Brokerage Agreement This “TRADITIONAL” RESIDENTIAL PROPERTY MANAGEMENT AND BROKERAGE... - [Careers](https://www.home365.co/jobs/): Join An Exciting, Young & Promising Technology Powered, Silicon Valley Based Property Management Startup Company. - [FAQ's](https://www.home365.co/faqs/): Browse Some of our Most Frequently Asked Questions About Property Management. - [Get A Quote](https://www.home365.co/get-a-quote/): Looking to invest in property management? Home365 makes life better for investors & tenants. Enjoy stress-free property management, get a free quote! - [Rentals](https://www.home365.co/rentals/): Not ready to buy a house? No worries! We have amazing rental properties near you! Click here to see what is for rent near you! - [Sales](https://www.home365.co/sales/): Are you ready to take the next step in real estate investing? Well Home365 is here to help! Click here to start checking out homes that are available! - [Blog](https://www.home365.co/blog/): Master Property Management With HOME365’s Education Center. Dive into our blog to get expert insights, and insider tips - [Property Management](https://www.home365.co/property-management/): Home365 offers full service property management solutions. Learn more about how it works, our management plans, and get a free quote today! - [Help](https://www.home365.co/help/): A homeowner or resident? We here at Home365 are here to help and provide hassle-free maintenance and repair! Click here for more info! - [Tenant](https://www.home365.co/tenant/): Download the Home365 App - You can report maintenance issues with simple to shoot photos and videos, schedule service visits, pay rent, and more. - [Residents](https://www.home365.co/residents/): We help people find safe, comfortable and hassle-free homes. Contact us to explore available properties, schedule a viewing and find your perfect home. - [About](https://www.home365.co/about/): Home365 makes life better for investors & tenants. We combine local knowledge with cutting-edge technology to make investing easy for all. Learn more here! - [Home Investors](https://www.home365.co/): Home365, Is a Property Management Company. Our Goal Is Making Renting Out More Profitable, Predictable And Hassle Free. Click Here For More Information. - [Partner With Home365](https://www.home365.co/partner-with-home365/): Are you a property management company owner looking for a growth partner? We’re ready to help you scale and grow in your market and beyond! - [Apply to rent](https://www.home365.co/apply-to-rent/): Looking For Property Managers? A Simple Hack To Be Part Of Our Movement Is By Searching For Property Managers Near Me. Click Here To Find Out More Details - [Terms of service](https://www.home365.co/terms-of-service/): Home365 Is a Property Management Company that Deals With Residential And Commercial Management To Save You The hassle. Click Here For our terms of service - [Referral Program](https://www.home365.co/referralprogram/): Home365 Is a Property Management Company that Deals With Residential And Commercial Management To Save You The hassle. Click Here For our referral program - [Refer a Friend](https://www.home365.co/refer-a-friend/): Home365 Is a Property Management Company that Deals With Both Residential And Commercial Management To Save You The hassle. Click Here refer a friend - [Owner Refer Friends](https://www.home365.co/owner-refer-friends/): Earn $500 💰 In Cash! Refer friends to Home365 - [News](https://www.home365.co/news/): Home365 Is a Property Management Company that Deals With Both Residential And Commercial Management To Save You The hassle. Click Here read about us - [Login](https://www.home365.co/login/): Home365 Is a Property Management Company that Deals With Both Residential And Commercial Management To Save You The hassle. Click Here to login - [Privacy Policy](https://www.home365.co/privacy-policy/): Home365 Is a Property Management Company that Deals With Both Residential And Commercial Management To Save You The hassle. Click Here for private policy --- ## Posts - [Would You hire a $23/Hour Employee to Manage $0.5M of Your Money?](https://www.home365.co/general-knowledge/property-management/property-manager-23-hour-500k/): Daniel Shaked on why traditional property managers under-serve investors—and how Home365’s tech-first model delivers better, predictable returns. - [Top 10 Property Management Companies in Atlanta (2025 Rankings)](https://www.home365.co/growth-markets/atlanta/property-management-companies-atlanta/): Find the best property management companies Atlanta has to offer. Compare services, pricing, and tech to grow your rental income stress-free. - [Real Estate Investing in Las Vegas: How to Maximize Profits from Your Rental While Living Far Away](https://www.home365.co/growth-markets/las-vegas/real-estate-investing-in-las-vegas-how-to-maximize-profits-from-your-rental-while-living-far-away/): Maximize profits from your Las Vegas rental property with expert tips on real estate investing in Las Vegas, tenant selection, maintenance, and market trends. - [Top 5 Places to Invest in Las Vegas in 2025 for Single-Family Homes](https://www.home365.co/growth-markets/las-vegas/top-5-places-to-invest-in-las-vegas-in-2025-for-single-family-homes/): Discover top Las Vegas neighborhoods for investing in 2025 single-family homes. Explore stable growth, rental demand, and profitable opportunities. - [Should You Invest in Property in Atlanta?](https://www.home365.co/growth-markets/atlanta/should-you-invest-in-property-in-atlanta/): Let’s break down how you can determine the optimal rental rate in Atlanta and why Home365’s AI-powered tools can give you a competitive edge. - [How Much Should I Rent My Atlanta Property For in 2025?](https://www.home365.co/growth-markets/atlanta/how-much-rent-atlanta-property/): Let’s break down how you can determine the optimal rental rate in Atlanta and why Home365’s AI-powered tools can give you a competitive edge. - [Top Tips for Atlanta Landlords to Maximize Profit](https://www.home365.co/growth-markets/atlanta/tips-for-atlanta-landlords/): Here’s a comprehensive guide to help you effectively manage your rental property in Atlanta and optimize your investment. - [What to Look for When Choosing a Property Management Solution](https://www.home365.co/general-knowledge/property-management/choosing-property-management-solution/): Let’s explore the ins and outs of home warranties, when they’re most effective, and some alternatives that may offer more protection for rental property owners. - [Are Home Warranties Worth It? Understanding Your Options](https://www.home365.co/general-knowledge/property-management/home-warranties-worth-it/): Let’s explore the ins and outs of home warranties, when they’re most effective, and some alternatives that may offer more protection for rental property owners. - [Introducing Home365's New Special Offers for Investors](https://www.home365.co/general-knowledge/property-management/new-special-offers-for-investors/): We created a brand-new special offers section—a dedicated space where homeowners can access exclusive offers from leading companies in the real estate industry. - [If You're Unhappy with Your Property Management Company, It Might Be Time for Self-Reflection](https://www.home365.co/general-knowledge/property-management/unhappy-with-property-management-company/): This article explores why property management companies frequently receive negative perceptions. - [How Home365's Property Management Software is Transforming the Industry](https://www.home365.co/general-knowledge/property-management/property-management-software/): As the rental market grows competitive, solutions that bring rent collection, financial tracking and maintenance into one platform are becoming more popular. - [Emergencies in Your Las Vegas Rental: Essential Tips for Property Owners](https://www.home365.co/growth-markets/las-vegas/las-vegas-rental-essential-tips-property-owners/): This blog post delves into the distinct aspects of managing properties in Las Vegas, offering insights and strategies for navigating this unique market. - [All About Property Management in Las Vegas](https://www.home365.co/growth-markets/las-vegas/all-about-property-management-in-las-vegas/): This blog post delves into the distinct aspects of managing properties in Las Vegas, offering insights and strategies for navigating this unique market. - [Technological Advancements in Property Management](https://www.home365.co/general-knowledge/property-management/technological-advancements-in-property-management/): Learn how innovative solutions bring transparency, efficiency, and profitability to property owners. - [Property Management 101](https://www.home365.co/general-knowledge/property-management/property-management-101/): What is Property Management Property management is the operation, control, maintenance, and oversight of real estate and physical property. This... - [Scale Your Real Estate Portfolio with Confidence](https://www.home365.co/general-knowledge/real-estate-investing/scale-your-real-estate-portfolio-with-confidence/): Building a successful real estate portfolio is an exciting journey. But as your portfolio grows, so do the complexities of... - [The Landlord Advantage: Building Lasting Legacies with Strategic Investment Properties](https://www.home365.co/general-knowledge/real-estate-investing/the-landlord-advantage/): Turn Renters into Revenue: How Investment Properties Create Passive Income and Secure Your Family’s Future As a property management company... - [Demystifying Atlanta Tenant Laws with Home365's Property Management Atlanta Experts](https://www.home365.co/growth-markets/atlanta/demystifying-atlanta-tenant-laws/): Owning rental property in Atlanta can be a rewarding experience. However, navigating the intricate web of tenant laws can feel... - [Why Hire a Property Manager?](https://www.home365.co/general-knowledge/property-management/why-hire-a-property-manager/): Imagine renting out your home without managing tenants, doing repairs or worrying about vacancies, all while reaping a steady income... - [What to Know When Choosing a Rental Investment Property](https://www.home365.co/general-knowledge/real-estate-investing/what-to-know-when-choosing-a-rental-investment-property/): Deciding to invest in a rental property can be a profitable and exciting move to make — but it requires... - [Passive Real Estate Investing: Building Wealth With Minimal Effort](https://www.home365.co/general-knowledge/guide-to-passive-real-estate-investing/): A reliable way to build wealth with minimal effort is through passive real estate investing. Learn more about what it is and how to get started! - [Reduce Tenant Turnover](https://www.home365.co/general-knowledge/proven-strategies-to-improve-tenant-rentention/): Managing tenant turnover is an essential aspect of making property rentals profitable. Learn more about tenant turnover, the ideal rate and how to reduce it. - [Living in Atlanta, Georgia](https://www.home365.co/general-knowledge/living-in-atlanta-ga/): Wondering what it's like to live in Atlanta, Georgia? Learn more about this bustling and diverse city and why it's a great place to call home. - [Investing in Baltimore Real Estate](https://www.home365.co/general-knowledge/investing-in-baltimore-real-estate/): Baltimore, Maryland, is one of the best real estate markets for investors. Learn all you should know about investing in real estate in Baltimore! - [8 Reasons to Move to Philadelphia](https://www.home365.co/general-knowledge/reasons-to-move-to-philadelphia/): Looking for a new place to call home? Learn what Philadelphia has to offer from a strong sports culture to cost of living and more. Read now! - [Why You Should be Investing in Philadelphia Real Estate](https://www.home365.co/general-knowledge/why-invest-in-philadelphia-real-estate/): Discover the growing potential of Philadelphia real estate investment, including a growing population, historic charm, affordability and more. Read now! - [Top 5 Tax Benefits for Real Estate Investors](https://www.home365.co/general-knowledge/tax-benefits-for-real-estate-investors/): Investing in real estate & looking to capitalize on your tax deductions? Learn more about your options to maximize returns. - [Tenant Collections in Property Management](https://www.home365.co/general-knowledge/tenant-collections-in-property-management/): Are you a landlord having trouble with tenants not paying rent? Home365 provides a guide on how to send a tenant to collections. Learn more here. - [Pros & Cons of Investing in Section 8 Real Estate](https://www.home365.co/general-knowledge/investing-in-section-8-real-estate-pros-and-cons/): Find out the pros & cons of investing in Section 8 housing, and the steps to becoming a Section 8 landlord. Read more here. - [How to Price A Rental Property](https://www.home365.co/general-knowledge/how-to-price-a-rental-property/): Get the information you need and learn the factors to consider on how to price your rental property. Learn more here. - [Top Things a Renter Wants in a Rental Property](https://www.home365.co/general-knowledge/top-things-a-renter-wants-in-a-rental-property/): Learn the top five things renters are looking for in rental properties and how to market and maintation a property. Learn more here. - [Lessons Learned While Managing Properties in Chicago](https://www.home365.co/general-knowledge/lessons-learned-while-managing-properties-in-chicago/): Are you interested in managing properties in Chicago? Increase your success by reading through these valuable lessons learned. Click here to learn more! - [Why Should you Buy an Investment Property in Atlanta?](https://www.home365.co/general-knowledge/why-should-you-buy-an-investment-property-in-atlanta/): Considering purchasing an investment property in Atlanta? Determine if it is the right decision for you by reading about some of the benefits. Learn more! - [What you Should Know about Investing in Phoenix](https://www.home365.co/general-knowledge/what-you-should-know-about-investing-in-phoenix/): Looking to invest in a property & need help deciding where to invest? Check out the various benefits of PA that make it the best state to invest in! - [Why Pennsylvania is the Best State to Invest In](https://www.home365.co/general-knowledge/why-pennsylvania-is-the-best-state-to-invest-in/): Looking to invest in a property & need help deciding where to invest? Check out the various benefits of PA that make it the best state to invest in! - [5 Reasons Chicago Is Ideal For Real Estate Investing](https://www.home365.co/growth-markets/chicago/5-reasons-for-chicago-property-investing/): Real estate investing is becoming increasingly attractive for Chicago, IL in 2023. Learn more here about the benefits of property investing in Chicago. - [Top 5 Places to Invest In Atlanta, GA](https://www.home365.co/general-knowledge/top-5-places-to-invest-in-atlanta-ga/): If you are starting your portfolio as a property investor in Atlanta, Georgia, and in search of the best areas to invest in Atlanta, learn more here. - [Everything You Need to Know About Managing Properties in Philadelphia](https://www.home365.co/general-knowledge/what-to-know-about-managing-properties-in-philadelphia/): Learn about effective property management in Philadelphia, Pennsylvania with tenant management, laws and regulations, maintenance, and more. - [Tenant Landlord Laws In Baltimore, Maryland](https://www.home365.co/general-knowledge/tenant-landlord-laws-in-baltimore-maryland/): As a property tenant and landlord it is important to know legal rights and obligations in your area. Learn more about Baltimore's laws here. - [Top 5 Places to Invest in Las Vegas, NV](https://www.home365.co/general-knowledge/top-5-places-to-invest-in-las-vegas-nv/): If you are starting your portfolio as a property investor in Las Vegas, and in search of the best areas to invest in Las Vegas, learn more here. - [Phoenix Eviction Process](https://www.home365.co/growth-markets/phoenix-eviction-process/): Learn about the eviction in process in Phoenix. Home365 provides a timeline of events & information on court proceedings & removal. Click to read more! - [Eviction Process in Atlanta, Georgia](https://www.home365.co/growth-markets/atlanta/eviction-process-in-atlanta-georgia/): Are you a landlord in Atlanta? Learn more about the eviction process including notice requirements and court hearings. Learn more from Home365 today! - [Eviction Process in Philadelphia, PA](https://www.home365.co/growth-markets/philadelphia/eviction-process-in-philadelphia-pa/): Learn more about the steps Philadelphia follows for tenant eviction, including necessary documents. For more on eviction processes, visit Home365 today! - [Tenant Eviction Process in Baltimore, Maryland](https://www.home365.co/growth-markets/baltimore/tenant-eviction-process-in-baltimore-maryland/): Curious about the eviction process in Baltimore? Learn the entire process beginning to end to know what to expect. Read about the process here! - [The Eviction Process in Central PA](https://www.home365.co/growth-markets/the-eviction-process-in-central-pa/): Check out Central PA's eviction process, from court involvement to lockouts. Be prepared for the process with the help of Home365. Learn more here! - [Chicago's Eviction Process](https://www.home365.co/growth-markets/chicago/chicagos-eviction-process/): Learn more about the legal procedures of the eviction process in Chicago. From notices to tenant protections, understand the whole process. Read more here! - [Tenant Eviction in Detroit, Michigan](https://www.home365.co/growth-markets/tenant-eviction-in-detroit-michigan/): Learn more about the eviction process in Detroit. From termination notices to court involvement, here is a step-by-step process. Learn more! - [New Jersey Eviction Process](https://www.home365.co/growth-markets/new-jersey-eviction-process/): Learn about the eviction in process in New Jersey. Home365 provides a timeline of events & information on warrants & court proceedings. Click to read more! - [Eviction Process in Virginia](https://www.home365.co/growth-markets/eviction-process-in-virginia/): Check out the eviction process in Virginia. Learn about the causes, notices, and the court process. For more about eviction processes, learn more here! - [Registering Your Rental Property in Detroit](https://www.home365.co/growth-markets/rental-registration-detroit/): Easily learn the information you need to register your rental property with the City of Detroit to start collecting money from your property! - [How to Register Your Rental Property in Norfolk](https://www.home365.co/growth-markets/rental-registration-norfolk/): Quickly learn the 5 steps necessary to register your rental property with the City of Norfolk and start collecting money from your property! - [What Do You Need to Register Your Property in Harrisburg?](https://www.home365.co/growth-markets/rental-registration-harrisburg/): Follow the 4 steps needed to register your rental property with the city of Harrisburg and start building your income from your property! - [Virginia Beach Property Rental Registration Made Easy](https://www.home365.co/growth-markets/rental-registration-virginia-beach/): Learn from this 5 step guide how to register your short term rental property with the city of Virginia Beach and start making income! - [5 Steps to Register Your Rental Property in Wilkes-Barre](https://www.home365.co/growth-markets/rental-registration-wilkes-barre/): Follow our guide to learn the 5 steps needed to register your rental property with the City of Wilkes-Barre. Start generating money from your property! - [Steps to Register Your Rental Property in Scottsdale](https://www.home365.co/growth-markets/phoenix/rental-registration-scottsdale/): Learn the 4 steps on registering your rental property with the city of Scottsdale and obtain a rental registration certificate. Start to build your income! - [6 Steps to Property Rental Registration in Reading, PA](https://www.home365.co/growth-markets/rental-registration-reading/): Learn the 6 crucial steps to register your rental property with the City of Reading, PA. Start collecting money from your property today! - [Eviction Laws in Las Vegas, Nevada](https://www.home365.co/growth-markets/las-vegas/eviction-process-las-vegas/): In Las Vegas, a legal eviction process must be followed. For more information on eviction legalities in Las Vegas and other areas, learn more from Home365! - [Registering Your Rental Property in Allentown, PA](https://www.home365.co/growth-markets/allentown/rental-registration-allentown/): Learn the information you need to register your rental property with the City of Allentown to start making money from your property! - [Steps to Register Your Rental Property in Baltimore](https://www.home365.co/growth-markets/baltimore/rental-registration-baltimore/): Learn the 4 steps necessary to register your rental property with the City of Baltimore and start collecting your passive income! - [Property Rental Registration Steps in Bethlehem](https://www.home365.co/growth-markets/rental-registration-bethlehem/): Follow these 4 steps that are necessary to register your rental property with the City of Bethlehem and start collecting your passive income! - [3 Steps to Property Rental Registration in Chicago](https://www.home365.co/growth-markets/chicago/rental-registration-chicago/): Learn 3 important steps to registering your rental property with the City of Chicago and start generating your passive income! - [How to Register Your Rental Property in Phoenix](https://www.home365.co/growth-markets/phoenix/rental-registration-phoenix/): Follow these 5 steps to registering your rental property with the city of Phoenix and lets start building passive income! - [The Steps You Need to Know to Register Your Rental in York](https://www.home365.co/growth-markets/york/rental-registration-york/): Renting out your property in York PA? Learn what is needed to register your rental with the city and start generating income! - [What Do You Need to Register Your Property in Lancaster?](https://www.home365.co/growth-markets/lancaster/rental-registration-lancaster/): Learn the 3 steps necessary to register your rental property with the City of Lancaster and start collecting your passive income! - [Your Guide to Registering a Rental Property in Scranton](https://www.home365.co/growth-markets/scranton/rental-registration-scranton/): Learn the 5 steps necessary to register your rental property with the City of Scranton and start collecting your passive income! - [What Is Passive Real Estate Investment and How Does it Work?](https://www.home365.co/general-knowledge/real-estate-investing/what-is-passive-real-estate-investment-and-how-does-it-work/): Passive real estate allows an investor to start gaining capital without having to put in a lot of hard work. - [Property Investment: How to Become a Property Manager Investor](https://www.home365.co/general-knowledge/real-estate-investing/property-investment-how-to-become-a-property-manager-investor/): Once you purchase your investment property, the professionals at Home365 can help manage every aspect of your new property. - [Why a Rental Property Management Company Should Require Renter’s Insurance](https://www.home365.co/general-knowledge/property-management/why-a-rental-property-management-company-should-require-renters-insurance/): Requiring renter’s insurance is a good idea for a rental property management company. Contact Home365 to learn more. - [Customer Service: Keys to Success for a Rental Property Management Company](https://www.home365.co/general-knowledge/property-management/customer-service-keys-to-success-for-a-rental-property-management-company/): Home365 is committed to providing consistent and reliable customer service to both tenants and property owners. Learn more today. - [6 Tips to Finding the Right Rental Management Service](https://www.home365.co/general-knowledge/property-management/6-tips-to-finding-the-right-rental-management-service/): A rental management service can take care of the daily operations of your property, as well as marketing and other aspects. - [Requirements to Become a Property Manager](https://www.home365.co/general-knowledge/property-management/requirements-to-become-a-property-manager/): Become a Property Manager & Maximize your Success -Fulfilling the essential requirements is key. Explore our expert tips - [Signs of a Great Property Management Service](https://www.home365.co/general-knowledge/property-management/signs-of-a-great-property-management-service/): As a property investor, you want to look for key signs that indicate a great property management service. Check out our article! - [How Do I Start a Rental Property Company?](https://www.home365.co/general-knowledge/how-do-i-start-a-rental-property-company/): Not sure how to start a rental property company? Home365 provides a guide on how to turn into a well-maintained rental property company. Read more here! - [Top 5 Residential Property Management Companies and Their Secrets](https://www.home365.co/general-knowledge/real-estate-investing/top-5-residential-property-management-companies-and-their-secrets/): Finding the right residential property management company is significant to the success of your investment. Here's our the top five companies in Las Vegas. - [Top 10 Things to Look for When Selecting a Rental Property Manager](https://www.home365.co/general-knowledge/property-management/top-10-things-to-look-for-when-selecting-a-rental-property-manager/): How to Choose the Best Rental Property Manager for Your Needs? Here are The 10 Top Things You Need to Know! - [How Much Work Is It Really to Have a Company or a Management Company Rentals Service?](https://www.home365.co/general-knowledge/how-much-work-is-it-really-to-have-a-company-or-a-management-company-rentals-service/): Find the Management Company Rentals Best for You! Management company rentals can take care of all the responsibilities of your property. - [Home365 Celebrates Series B Funding](https://www.home365.co/general-knowledge/home365-is-publicly-announcing-a-series-b-venture-funding-round-of-26m/): Home365 announced a Series B venture funding round to accelerate its innovative approach to helping investors grow real estate portfolios. Learn More! - [Understanding Property Management Fees](https://www.home365.co/general-knowledge/property-management/understanding-property-management-fees/): How Much Are Property Management Fees? Where Do My Property Management Fees Go? All The Answers are in The Article - [Pros and Cons of Hiring a Property Management Company](https://www.home365.co/general-knowledge/property-management/pros-and-cons-of-hiring-a-property-management-company/): If You’ve Weighed The Pros And Cons And You’re Ready To Take Your Rental Business To The Next Level, Check Out Full-service PM Plans From Home365 - [What Does a Property Management Company Do?](https://www.home365.co/general-knowledge/property-management/what-does-a-property-management-company-do/): If you’re wondering, “what does a property management company do?”, we will happily answer that for you. Click here for more information - [Property Management Maintenance](https://www.home365.co/renovation-and-maintenance/property-maintenance-renovation-and-maintenance/property-management-maintenance/): Focus on the profits and leave the property management maintenance to us. Get a quote today to get started. - [Are You Looking to Fill a Rental Vacancy? Try These Four Methods to Attract New Tenants](https://www.home365.co/general-knowledge/are-you-looking-to-fill-a-rental-vacancy-try-these-four-methods-to-attract-new-tenants/): Having trouble filling rental vacancies? These four methods will help you attract new tenants and reach full occupancy sooner than you think. Read more! - [Seven Tips for Conducting Virtual Live Tours](https://www.home365.co/general-knowledge/seven-tips-for-conducting-virtual-live-tours/): Virtual tours have never been more important than now. Consider these tips when virtually showcasing a property to a prospective tenant. Read more! - [Are Vacation Homes the Right Investment for You](https://www.home365.co/general-knowledge/real-estate-investing/are-vacation-homes-the-right-investment-for-you/): Thinking of renting out a vacation home? Before you decide whether it is the right investment for you, learn about the benefits and drawbacks. Read more! - [Is There Really an Off-Season for Buying & Selling in Hot Markets?](https://www.home365.co/general-knowledge/real-estate-investing/is-there-really-an-off-season-for-buying-selling-in-hot-markets/): Many believe that winter is the worst time to buy or sell a home. Is it a fact? Learn more about how a specific time of the year can affect your business. - [Eight Tenant, Landlord, and Property Manager Jokes You Should Hear!](https://www.home365.co/general-knowledge/property-management/eight-tenant-landlord-and-property-manager-jokes-you-should-hear/): Take a break and share a laugh with us as we peruse some of the best tenant, landlord, and property manager jokes out there. Click here - [Can You Trust Purchasing an Investment Property Without Seeing It?](https://www.home365.co/general-knowledge/real-estate-investing/can-you-trust-purchasing-an-investment-property-without-seeing-it/): As an added advantage, our virtual management systems can enhance your ability to manage your investment property remotely as well. - [How to Safeguard Your Property Against Tenants From Hell](https://www.home365.co/general-knowledge/how-to-safeguard-your-property-against-tenants-from-hell/): Nearly every Las Vegas area landlord has at least one horror story to share on tenants from hell. Read Home365's list of tips on how to avoid them. - [What You Should Know About PropTech and InsureTech](https://www.home365.co/general-knowledge/what-you-should-know-about-proptech-and-insuretech/): PropTech and InsureTech are two buzzwords that have recently appeared on the Las Vegas rental market scene. What are they? click here to find out - [Why Preventive Maintenance Is Critical For Your Investment Property](https://www.home365.co/renovation-and-maintenance/why-preventive-maintenance-is-critical-for-your-investment-property/): Preventive maintenance allows you to identify issues when they are small problems before they result in larger, more expensive issues. Read to learn more! - [Eleven Must-Know Terms for Real Estate Investors](https://www.home365.co/general-knowledge/real-estate-investing/eleven-must-know-terms-for-real-estate-investors/): When taking up a new hobby, it’s important to know the lingo of what you’re trying to play. Here's a list of the property investment terms you must know - [Why You Need Rent Guarantee For Your Investment Properties](https://www.home365.co/general-knowledge/property-management/why-you-need-rent-guarantee-for-your-investment-properties/): In Las Vegas, more and more property owners choose rent guarantee to avoid interruptions in cash flow. Click here for more information - [How to Screen Tenants Without Meeting Them](https://www.home365.co/general-knowledge/property-management/how-to-screen-tenants-without-meeting-them/): Home365 shares with you the best ways to find high-quality tenants without meeting them face-to-face. Click to find out how to do just that. - [How to Reduce Late Payments and Collect Rent on Time](https://www.home365.co/general-knowledge/property-management/how-to-reduce-late-payments-and-collect-rent-on-time/): Knowing how to encourage renters to pay on time can help address one of the biggest hassles of owning an investment property. Click for more info - [Self Managing? Don’t Make These 3 Property Management Mistakes](https://www.home365.co/general-knowledge/property-management/self-managing-dont-make-these-3-property-management-mistakes/): We are all prone to making mistakes, knowing the most common mistakes that property owners make can help you take preventative action. Learn more here! - [After Your First Rental Property Purchase: 3 Tasks To Complete](https://www.home365.co/general-knowledge/real-estate-investing/after-your-first-rental-property-purchase-3-tasks-to-complete/): If the property you own is in a different city or state, you need the help of a property manager. Click here for more information - [Daniel Shaked Wins The Top Tech Award!](https://www.home365.co/general-knowledge/daniel-shaked-wins-the-top-tech-award/): Daniel Shaked Wins The Top Tech Award! Our Founder and CEO of Home 365 Daniel Shaked has won the Top Tech Award for Innovative Startup Tech. Read more - [Las Vegas Property Managers: Consider These 3 Lease Renewal Tips](https://www.home365.co/growth-markets/las-vegas/las-vegas-property-managers-consider-these-3-lease-renewal-tips/): Tenant turnover can be a hassle. So Las Vegas Property Managers: Consider These 3 Lease Renewal Tips. Click here to get those tips - [Consider These 4 Inexpensive Bathroom Upgrades for Your Rental Property](https://www.home365.co/renovation-and-maintenance/consider-these-4-inexpensive-bathroom-upgrades-for-your-rental-property/): When showing rental property to potential tenants, Consider These 4 Inexpensive Bathroom Upgrades for Your Rental Property. Click for more info - [Don’t Neglect These 6 Fall Maintenance Tasks on Your Rental Property](https://www.home365.co/renovation-and-maintenance/dont-neglect-these-6-fall-maintenance-tasks-on-your-rental-property/): Fall is officially upon us, which means cooler temperatures are on the way. Now is the perfect time to catch up on some maintenance tasks on your property. - [4 Facts About Renting to College Students in Las Vegas](https://www.home365.co/growth-markets/las-vegas/4-facts-about-renting-to-college-students-in-las-vegas/): Our tips to identifying the right college students for a tenancy to assure full occupancy of your residences and protection of your property. Read more! - [3 Reasons to Consider Purchasing a Las Vegas Fourplex](https://www.home365.co/growth-markets/las-vegas/3-reasons-to-consider-purchasing-a-las-vegas-fourplex/): Las Vegas is one of the best places in the country to own rental property. Here are 3 Reasons to Consider Purchasing a Las Vegas Fourplex - [5 Simple but Effective Ways to Secure Your Vegas Rental Property](https://www.home365.co/growth-markets/las-vegas/5-simple-but-effective-ways-to-secure-your-vegas-rental-property/): Home365 shares the best ways to secure your Las Vegas, NV rental property. This way your tenants are safe and your property is secure. Learn more! - [Marketing Trends Changing the Property Management Industry](https://www.home365.co/general-knowledge/property-management/marketing-trends-changing-the-property-management-industry/): If you want to keep pace with technology and remain competitive in the digital environment, keep the following marketing trends in mind. Read for more! - [What Las Vegas Renters Say About Their Preferred Design Choices](https://www.home365.co/growth-markets/las-vegas/what-las-vegas-renters-say-about-their-preferred-design-choices/): In a crowded renter’s market like Las Vegas, it’s important to stand out and differentiate. Here are six things Las Vegas residents are looking for - [How AI Is Changing the Real Estate Industry](https://www.home365.co/general-knowledge/how-ai-is-changing-the-real-estate-industry/): Artificial intelligence (AI) is here to stay and is catching up with the real estate industry. Learn how you can apply it to your business. Read for more! - [5 Questions To Ask Your Property Manager In Las Vegas](https://www.home365.co/growth-markets/las-vegas/5-questions-to-ask-your-property-manager-in-las-vegas/): Las Vegas has a lot of safety codes and regulations so when looking for a property manager, keep the following 5 questions in mind. - [5 Upgrades to Get Your Multi-Family Units Noticed](https://www.home365.co/renovation-and-maintenance/5-upgrades-to-get-your-multi-family-units-noticed/): Multi-family units can be a great way to generate extra income because you’re renting out units to multiple families at once. Click here for more info - [4 Best Places to Buy Rental Properties](https://www.home365.co/general-knowledge/real-estate-investing/4-best-places-to-buy-rental-properties/): Are you looking for the best place to invest in rental property? Read our list of some of the hottest markets in the US for incoming-generating properties. - [What You Should Know About Generation Z Renters](https://www.home365.co/general-knowledge/what-you-should-know-about-generation-z-renters/): Here are a few things to know about Gen Z as they begin filling out applications for rentals. Click here for info on how to attract them as renters - [What Are the Benefits of a Property Manager in Las Vegas?](https://www.home365.co/growth-markets/las-vegas/what-are-the-benefits-of-a-property-manager-in-las-vegas/): In Las Vegas, property management can have several benefits Click here to learn why you need property management services in Las Vegas. - [What Are the Landlord's Responsibilities for Repairs?](https://www.home365.co/renovation-and-maintenance/what-are-the-landlords-responsibilities-for-repairs/): Understanding your rights and responsibilities regarding repairs can help you avoid potential legal hassles and save money down the road. Click for info - [How to Make Your Rental Property More Family-Friendly](https://www.home365.co/general-knowledge/how-to-make-your-rental-property-more-family-friendly/): If you want to attract families as tenants, follow these tips to make the property more attractive to them. Click here for more information - [4 Basics That New Landlords Should Know](https://www.home365.co/general-knowledge/4-basics-that-new-landlords-should-know/): Being a first-time landlord can be an intimidating experience. You can spare yourself from a variety of unpleasant surprises. Here are 4 tips to follow - [Prepare Your Rental Properties for the Summer!](https://www.home365.co/renovation-and-maintenance/prepare-your-rental-properties-for-the-summer/): Summer is one of the best times to rent a house or an apartment. Take advantages of this peak time and prepare your properties with the following tips. - [4 Ways To Improve the Security of Your Rental Property](https://www.home365.co/renovation-and-maintenance/4-ways-to-improve-the-security-of-your-rental-property/): 4 Ways To Improve the Security of Your Rental Property - Investing in advanced security systems maintains the safety of the property. Click for more info - [4 Things to Consider When Investing in Multifamily Properties.](https://www.home365.co/general-knowledge/real-estate-investing/4-things-to-consider-when-investing-in-multifamily-properties/): Before you make a final decision on a particular property, consider the following factors to make an educated decision. Click for more info - [Why Vacancy Insurance Is an Asset to Have](https://www.home365.co/general-knowledge/why-vacancy-insurance-is-an-asset-to-have/): Most landlords usually have some sort of landlord insurance set up to protect a rental unit. Learn more about how vacancy insurance can benefit you. - [Choosing Between Single and Multifamily Investments](https://www.home365.co/general-knowledge/real-estate-investing/choosing-between-single-and-multifamily-investments/): When entering the field of real estate investments, one of the first choices you might have is if to invest in a single or multifamily rental property. - [4 Ways Technology Is Changing Property Management](https://www.home365.co/general-knowledge/4-ways-technology-is-changing-property-management/): The growing number of conveniences found in technological advancements have improved rental property management. Click here for more info - [How to Fill Vacancies During the Off-Seasons](https://www.home365.co/general-knowledge/how-to-fill-vacancies-during-the-off-seasons/): How do you find ways to convince people to rent out your property during the off-season? Click to learn about some of the methods you can use - [Rental Property Insurance Tips That Prevent Pain and Save Money](https://www.home365.co/general-knowledge/rental-property-insurance-tips-that-prevent-pain-and-save-money/): Keeping up with your property’s insurance is one of the most painful parts of being a landlord. Save money by following some of these helpful tips. - [Should Landlords Include Utility Costs in The Rent](https://www.home365.co/general-knowledge/should-landlords-include-utility-costs-in-the-rent/): Determining the billing methods for your rental units is important - Click here for more information - [4 Reasons Why a Pool on Your Rental Property Isn’t Worth It](https://www.home365.co/renovation-and-maintenance/4-reasons-why-a-pool-on-your-rental-property-isnt-worth-it/): Considering a pool on your rental property? Learn why the time and money on maintenance is too much and not worth the investment or trouble. Read more. - [Landlord Bad Habits You Need to Break](https://www.home365.co/general-knowledge/landlord-bad-habits-you-need-to-break/): Sometimes, you may wonder why you don’t make as much money with your investment as you can? Here are some of the bad habits that landlords are guilty of - [Spring Cleaning and Property Maintenance](https://www.home365.co/renovation-and-maintenance/spring-cleaning-and-property-maintenance/): What does spring cleaning consist of? Here is a list of things that we have compiled, most of it is DIY but for some, you may need professional help. - [Meet Sunshine Ray: Breaking the Mould in Blue-Collar Trades](https://www.home365.co/general-knowledge/meet-sunshine-ray-breaking-the-mould-in-blue-collar-trades/): We rarely acknowledge women breaking the mould in blue-collar trades. Today we would like you to meet Sunshine Ray. Click here to read more - [Red Flags to Look for When Buying an Investment Property](https://www.home365.co/general-knowledge/real-estate-investing/red-flags-to-look-for-when-buying-an-investment-property/): When buying an investment property, some flaws can mean the difference between a lucrative deal and a nightmare. Pay attention to these red flags - [5 Tips for Renting Out Your Own House](https://www.home365.co/general-knowledge/5-tips-for-renting-out-your-own-house/): Renting out your home is different from investing in a property for rental income. Here are 5 tips for renting out your own house. Click here to read more - [Should You Sell or Borrow Against Equity to Buy](https://www.home365.co/general-knowledge/should-you-sell-or-borrow-against-equity-to-buy/): you want to buy an investment property, but you don’t have the liquid cash to make a great down payment. Here are some things to consider when deciding - [What Are the Legal Responsibilities of an Owner Landlord?](https://www.home365.co/general-knowledge/what-are-the-legal-responsibilities-of-an-owner-landlord/): What Are the Legal Responsibilities of an Owner Landlord? Here are some of the legal responsibilities of landlords. Click here to read more - [When to Evict – How Long Is Too Long to Wait?](https://www.home365.co/general-knowledge/when-to-evict-how-long-is-too-long-to-wait/): For many property owners, rent is a primary source of income. The following steps will help you act when a tenant falls behind on paying rent. Click here - [Landlord Rights: Can You Choose the Tenant You Want?](https://www.home365.co/general-knowledge/landlord-rights-can-you-choose-the-tenant-you-want/): Choosing the right tenant isn’t as easy as accepting applications. Learn about your rights as a landlord and what potential tenants can expect. - [What Investors Need to Know About Property Tax Laws](https://www.home365.co/general-knowledge/real-estate-investing/what-investors-need-to-know-about-property-tax-laws/): Taxes are confusingץ However, if property investors don’t follow these laws, they can face severe consequences from the federal government. Click for info - [3 Tips for Creating an Investment Budget](https://www.home365.co/general-knowledge/real-estate-investing/3-tips-for-creating-an-investment-budget/): Budgeting is a critical skill for day-to-day expenses and property investments. Follow these tips, to create an effective plan for your investment spending - [What to Look for When Reviewing a Property’s Crime Rates](https://www.home365.co/general-knowledge/what-to-look-for-when-reviewing-a-propertys-crime-rates/): it’s important to research a neighborhood’s crime rates and examine its surroundings before purchasing a property. Here are a few signs to look for - [How to Approach a Pest Problem](https://www.home365.co/renovation-and-maintenance/how-to-approach-a-pest-problem/): A pest problem is a property manager’s worst nightmare. By delivering results quickly, you can squish out a pest problem in just a matter of days. - [How to Banish Third-Hand Smoke From Your Property](https://www.home365.co/renovation-and-maintenance/how-to-banish-third-hand-smoke-from-your-property/): Third-hand smoke is long-lasting and difficult to remove. These simple cleaning tips will get your smoky property back in tip-top shape. Read more! - [Why Single-Family Rentals Are Good Investments](https://www.home365.co/general-knowledge/real-estate-investing/why-single-family-rentals-are-good-investments/): When making a property investment, it is crucial to know which properties are destined to fail and which are secret gold mines. Click here to read more - [Tips for Proper Rent Collection](https://www.home365.co/general-knowledge/tips-for-proper-rent-collection/): Looking for ways to streamline your rent collection? Find out your options of payments from electronic to money orders and which are right for you. - [What Is Environmental Site Assessment?](https://www.home365.co/general-knowledge/what-is-environmental-site-assessment/): What Is an Environmental Site Assessment? and why is it important to property owners? Click here to get more information - [How to Buy a Home (and Make Money) as a Millennial](https://www.home365.co/general-knowledge/real-estate-investing/how-to-buy-a-home-and-make-money-as-a-millennial/): Here's how to Buy a Home (and Make Money) as a Millennial. If you're a millennial you should click here to read how to make money as a property investor - [What is Property Maintenance as a Service? A podcast that explains it all!](https://www.home365.co/renovation-and-maintenance/what-is-property-maintenance-as-a-service-a-podcast-that-explains-it-all/): Daniel Shaked, CEO Home365 in his podcast with Alex Oseneko of Fourandhalf.com discuss what is property maintenance as a service and more. Click here - [5 Tips for Managing Your Property Manager](https://www.home365.co/general-knowledge/property-management/5-tips-for-managing-your-property-manager/): The best way to reap all the potential rewards of working with a manager is to follow a few tips and tricks from the pros at Home365. Click here - [Property Owners: Don’t Let These 6 Maintenance Issues Surprise You](https://www.home365.co/renovation-and-maintenance/property-owners-dont-let-these-6-maintenance-issues-surprise-you/): Property Owners: Don’t Let These 6 Maintenance Issues Surprise You. Property repairs aren’t the type of surprises any owner wants to experience. Click here - [4 Red Flags That Signal a Sketchy Contractor](https://www.home365.co/general-knowledge/4-red-flags-that-signal-a-sketchy-contractor/): How can you stay safe when hiring a contractor? These four red flags are signs that your contractor might be sketchy – and you should find someone else. - [Don’t Let Deferred Maintenance Be the Downfall of Your Investment](https://www.home365.co/renovation-and-maintenance/dont-let-deferred-maintenance-be-the-downfall-of-your-investment/): Deferring property maintenance may seem like an easy way to create room in your budget, in reality it’s a common & potentially serious mistake. Read more! - [4 Roofing Facts and Statistics That May Surprise You](https://www.home365.co/renovation-and-maintenance/4-roofing-facts-and-statistics-that-may-surprise-you/): Learning a few facts about roofs can help you take proper care of your roof as a homeowner. Here are four roofing facts you probably didn’t know. - [5 Ways to Maximize Rental Property Income](https://www.home365.co/general-knowledge/5-ways-to-maximize-rental-property-income/): Owning a rental property can be an extremely rewarding investment. The following are proven tips to help you turn a profit with rental properties. - [How Poor Property Maintenance Can Lower Your Rental Income](https://www.home365.co/renovation-and-maintenance/how-poor-property-maintenance-can-lower-your-rental-income/): Curious how to earn the most money as a rental property owner? The secret is in property maintenance. Click here to get more information - [Why Invest in Repair and Maintenance (R&M) as a Property Owner?](https://www.home365.co/renovation-and-maintenance/why-invest-in-repair-and-maintenance-rm-as-a-property-owner/): Property owners will get what they put in when it comes to repair and maintenance. The more you invest in your building, the better your return. 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In this episode, Home365 CEO Daniel Shaked and Mark Brower reveal how top firms transform rentals into wealth‑building engines. - Published: 2025-07-24 - Modified: 2025-08-12 - URL: https://www.home365.co/podcast/podcast-unlock-asset-value-property-management/ Home365 Property Management Strategies to Maximize Rental Returns & Unlock Asset Value With Mark Brower on the Home365 Podcast June 30, 2025 | 54 min | Season 1, Episode 5https://www. youtube. com/watch? v=WVx5FUPQ2sIDiscover proven property management strategies with Home365 CEO Daniel Shaked and special guest Mark Brower. Learn how to go beyond fixing toilets and start maximizing rental returns through smarter tenant retention, data‑driven rent setting, and guaranteed cash‑flow protections. Treat your portfolio like a wealth‑building engine— unlock true asset value property management techniques that fund managers charge 1 % for, but with zero toilets. Show Full Transcript ▼ Episode Overview Host: Daniel Shaked (Home365) Guest: Mark Brower, Owner of Arizona's Premier Property Management Firm Duration: 54 minutes Topic: Real estate investing, property management business transformation, and wealth building strategies Key Topics Covered Property management vs. wealth management mindset Business model transformation in real estate Technology's impact on property management Investment alternatives and competitive landscape Owner psychology and education strategies Key Takeaways Mindset Shift Required: Property managers must evolve from "toilet fixers" to wealth managers Real Competition: The S&P 500 and other investment vehicles, not other property managers Technology Disruption: AI will automate most traditional PM tasks within 5-10 years Business Model Innovation: Guaranteed rent and profit-sharing models create better alignment Data-Driven Approach: Advanced underwriting and predictive analytics are essential Premium Positioning: Higher fees justified by guaranteed financial outcomes Complete Detailed Transcript Introduction: Authentic Leadership in Property Management Daniel Shaked: Welcome to Real Estate Investing Open Kimono by Home365. I'm Daniel Shaked here. We are discussing real estate's biggest traps with brutal honesty, no fluff, just raw truth to help you win. And today, get ready for Mark Brower, a brilliant thought leader and owner of Arizona's premier property management firm. This ultra marathon rock star, incredible human being - he is on fire helping good people do good things. Mark Brower: Yes. Daniel Shaked: I'm so happy to have you here. The first time I came across you was when I saw an interesting post, I think a short video that you posted about some crappy review you got and you took it so personally and you were discussing like how should I comment? How should I respond to this owner? And I'm like, this is the guy I want to meet. I want to talk to this person. He's like in pain. So emotionally codependent... Mark Brower: This emotionally codependent, overly caretaker personality, I wanna meet this guy. Personal Growth and Professional Authenticity Mark Brower: Yeah, no, no. That's what we got to do, man. Just like show up and you know, it's, it's, you know, I don't know. Like early in my career, there was a, there was a sort of a wall between personal Mark and like the professional persona Mark. And I'm going to be honest, it's taking a long time to get familiar and sort of blend those two together. And I feel more comfortable than I ever have before. Cause the reality is we all have infinite worth self-worth and we all, if we're committed to Mark Brower: This is what I've been thinking a lot about recently. If we're committed to love, honesty, and commitment to others, our attachment to those things immediately qualifies us for infinite intrinsic self-worth. We don't need to do anything to try to earn our self-worth. It's already there. And we can feel that. And everybody says, well, you should just feel that. You should just know that you're worthy of love. Mark Brower: Easier said than done. It's been a long journey for me. I'm 47 years old and I feel like I'm for the first time in my life, I'm getting really close to the point where I don't have to perform for anybody. I don't have to, I don't have to earn, you know, through performance, my own self-worth. It's just there. And so now that, now that that anxiety is gone, you know, how do I show up in a way that's most useful to other people that, that, Mark Brower: honors and loves other people as much as I honor and love myself. I've been listening to Brene Brown recently and others talk about boundaries, right? And so, so if we can, if we can honor and love other people the same that we honor and love ourselves, then we're in the right place to have the right kind of relationships and connections. We don't have to figure out how we're supposed to show up. We just show up and then we know we're enough. So. The Core Problem: Property Management vs. Wealth Management Daniel Shaked: I think that everything starts with the real estate investing as an alternative for gaining wealth as a store of value. And is it competitive in today's world versus other alternatives? And then if the answer is yes, and real estate investing is a great store of value, still attracts half, it's like $500 trillion of global wealth in it. Daniel Shaked: "Because really one of the things I think we were aligned on is that we are not property managers. We are not managing properties. We are managing people's money. I believe that investors are choosing real estate for a bunch of reasons but eventually what they want, they want returns. They want their wealth to grow. That's their retirement plan. That's their college fund. That's their money for the future. And we as property managers are, I'm saying in general, focused fixing toilets and not managing people's monies. " The Real Competition: S&P 500 Mark Brower: Who is our biggest competitor? Do you know? Daniel Shaked: "Exactly! Exactly! It's S&P 500! We have no other choice. If we can deliver 11% year over year of IRR, we are fucked. " The Mr. Cooper Case Study: Transformation Example Mark Brower: Nation Star Mortgage, one of the country's largest loan servicers. Very similar characteristics to property management: mature industry, low profit margins, boring. These guys were sitting around thinking like, how do we go paperless to increase our bottom line? It was a commoditized super low margin service industry until Nation Star Mortgage rebranded as Mr. Cooper. Mark Brower: They're taking an audience that's requisite that you engage with this company every month until you pay off your house. And they're saying like, what can we do to expand trust and opportunities and profitability with this client base? They started getting statements that would say things like: "You have $187,432 equity in this house. Which of these life events is coming up next for you? Kids going to college, marriage, important family vacation. " Technology's Inevitable Impact Mark Brower: It won't be long, Daniel, before AI does most of the property management tasks for us. I would guess under 10 years tops, probably under five years, where most of the tasks are done by AI and they're done better than humans and they're standardized. Home365's Revolutionary Model Daniel Shaked: "Our average owner pays us $500. Because we sell something else. Our average owner pays us around $6,000 a year. Even more. Because we don't sell fixing the pipes. We sell profit protection vehicle. We sell financial results. We are focused on results. " Daniel Shaked: When you can guarantee someone a financial outcome, suddenly you completely change the business model. I'm not guaranteeing the outcome, but I have skin in the game. If the owner is not profitable, we are not profitable. We're losing money. And that's exactly the fund management mindset. The Rent Guarantee Innovation Daniel Shaked: 80% of the new owners that are joining Home365, around $7,200 every month of new owners, are coming in with vacant properties. Vacancy drives almost all of the decisions. Vacancy is the biggest enemy of the real estate investor, stresses them out like crazy. Daniel Shaked: We are going to protect your income so that you know that we have zero incentive to make your property sit vacant. We're going to pay you a guaranteed rent while we are marketing and turning this property and making it rent ready. If the property sits vacant, we are paying your rent instead. Your income is protected. Guest Information Mark Brower is the owner of Arizona's premier property management firm and a thought leader in the real estate investing space. He advocates for transforming property management from a service business to a wealth management partnership. Episode Keywords Property management, real estate investing, S&P 500, wealth management, rent guarantee, business model innovation, AI automation, landlord education, investment returns, profit sharing, data analytics, underwriting algorithms More Episodes Wholesaling Real Estate Without the BS Nathan Payne Tells All Nathan Payne shares his unfiltered journey from knocking on doors to closing wholesale real estate deals—all without the fluff. In this candid conversation, Nathan and Daniel explore the realities of real estate wholesaling, including how reverse wholesaling works, why marketing is non-negotiable, and what most online courses get completely wrong. If you've ever wondered how to break into real estate without owning property, this one's for you. Listen Next --- > Your Free, Comprehensive Property Management Software for Efficient and Transparent Operations. Everything you need to manage your single-family rentals is right here. - Published: 2025-07-13 - Modified: 2025-07-30 - URL: https://www.home365.co/podcast/ https://www. youtube. com/watch? v=WVx5FUPQ2sIJune 30, 2025 | 54 min | Season 1, Episode 5 Episode 5 - Mark BrowerProperty Management's $500K Problem: Why We're Competing with the S&P 500 (Not Other PMs) What if we told you that your biggest competitor isn't the property manager down the street charging $20 less per door? It's the S&P 500. In this brutally honest conversation, Home365 CEO Daniel Shaked sits down with Mark Brower, owner of Arizona's premier property management firm, to expose the inconvenient truth: if you can't beat 11% annual returns, you're not managing properties—you're managing people's money poorly. This isn't your typical "how to scale to 1,000 doors" property management podcast. Mark and Daniel dive deep into the existential crisis facing our industry: we're charging $85/month to oversee $500,000 assets while fund managers charge 1% to manage digital portfolios with zero toilets. Show Full Transcript ▼ Episode Overview Host: Daniel Shaked (Home365) Guest: Mark Brower, Owner of Arizona's Premier Property Management Firm Duration: 54 minutes Topic: Real estate investing, property management business transformation, and wealth building strategies Key Topics Covered Property management vs. wealth management mindset Business model transformation in real estate Technology's impact on property management Investment alternatives and competitive landscape Owner psychology and education strategies Complete Detailed Transcript Introduction: Authentic Leadership in Property Management Daniel Shaked: Welcome to Real Estate Investing Open Kimono by Home365. I'm Daniel Shaked here. We are discussing real estate's biggest traps with brutal honesty, no fluff, just raw truth to help you win. And today, get ready for Mark Brower, a brilliant thought leader and owner of Arizona's premier property management firm. This ultra marathon rock star, incredible human being - he is on fire helping good people do good things. Mark Brower: Yes. Daniel Shaked: I'm so happy to have you here. The first time I came across you was when I saw an interesting post, I think a short video that you posted about some crappy review you got and you took it so personally and you were discussing like how should I comment? How should I respond to this owner? And I'm like, this is the guy I want to meet. I want to talk to this person. He's like in pain. So emotionally codependent... Mark Brower: This emotionally codependent, overly caretaker personality, I wanna meet this guy. Personal Growth and Professional Authenticity Mark Brower: Yeah, no, no. That's what we got to do, man. Just like show up and you know, it's, it's, you know, I don't know. Like early in my career, there was a, there was a sort of a wall between personal Mark and like the professional persona Mark. And I'm going to be honest, it's taking a long time to get familiar and sort of blend those two together. And I feel more comfortable than I ever have before. Cause the reality is we all have infinite worth self-worth and we all, if we're committed to Mark Brower: This is what I've been thinking a lot about recently. If we're committed to love, honesty, and commitment to others, our attachment to those things immediately qualifies us for infinite intrinsic self-worth. We don't need to do anything to try to earn our self-worth. It's already there. And we can feel that. And everybody says, well, you should just feel that. You should just know that you're worthy of love. Mark Brower: Easier said than done. It's been a long journey for me. I'm 47 years old and I feel like I'm for the first time in my life, I'm getting really close to the point where I don't have to perform for anybody. I don't have to, I don't have to earn, you know, through performance, my own self-worth. It's just there. And so now that, now that that anxiety is gone, you know, how do I show up in a way that's most useful to other people that, that, Mark Brower: honors and loves other people as much as I honor and love myself. I've been listening to Brene Brown recently and others talk about boundaries, right? And so, so if we can, if we can honor and love other people the same that we honor and love ourselves, then we're in the right place to have the right kind of relationships and connections. We don't have to figure out how we're supposed to show up. We just show up and then we know we're enough. So. The Core Problem: Property Management vs. Wealth Management Daniel Shaked: I think that everything starts with the real estate investing as an alternative for gaining wealth as a store of value. And is it competitive in today's world versus other alternatives? And then if the answer is yes, and real estate investing is a great store of value, still attracts half, it's like $500 trillion of global wealth in it. Daniel Shaked: "Because really one of the things I think we were aligned on is that we are not property managers. We are not managing properties. We are managing people's money. I believe that investors are choosing real estate for a bunch of reasons but eventually what they want, they want returns. They want their wealth to grow. That's their retirement plan. That's their college fund. That's their money for the future. And we as property managers are, I'm saying in general, focused fixing toilets and not managing people's monies. " The Real Competition: S&P 500 Mark Brower: Who is our biggest competitor? Do you know? Daniel Shaked: "Exactly! Exactly! It's S&P 500! We have no other choice. If we can deliver 11% year over year of IRR, we are fucked. " The Mr. Cooper Case Study: Transformation Example Mark Brower: Nation Star Mortgage, one of the country's largest loan servicers. Very similar characteristics to property management: mature industry, low profit margins, boring. These guys were sitting around thinking like, how do we go paperless to increase our bottom line? It was a commoditized super low margin service industry until Nation Star Mortgage rebranded as Mr. Cooper. Mark Brower: They're taking an audience that's requisite that you engage with this company every month until you pay off your house. And they're saying like, what can we do to expand trust and opportunities and profitability with this client base? They started getting statements that would say things like: "You have $187,432 equity in this house. Which of these life events is coming up next for you? Kids going to college, marriage, important family vacation. " Technology's Inevitable Impact Mark Brower: It won't be long, Daniel, before AI does most of the property management tasks for us. I would guess under 10 years tops, probably under five years, where most of the tasks are done by AI and they're done better than humans and they're standardized. Home365's Revolutionary Model Daniel Shaked: "Our average owner pays us $500. Because we sell something else. Our average owner pays us around $6,000 a year. Even more. Because we don't sell fixing the pipes. We sell profit protection vehicle. We sell financial results. We are focused on results. " Daniel Shaked: When you can guarantee someone a financial outcome, suddenly you completely change the business model. I'm not guaranteeing the outcome, but I have skin in the game. If the owner is not profitable, we are not profitable. We're losing money. And that's exactly the fund management mindset. The Rent Guarantee Innovation Daniel Shaked: 80% of the new owners that are joining Home365, around $7,200 every month of new owners, are coming in with vacant properties. Vacancy drives almost all of the decisions. Vacancy is the biggest enemy of the real estate investor, stresses them out like crazy. Daniel Shaked: We are going to protect your income so that you know that we have zero incentive to make your property sit vacant. We're going to pay you a guaranteed rent while we are marketing and turning this property and making it rent ready. If the property sits vacant, we are paying your rent instead. Your income is protected. Key Takeaways Mindset Shift Required: Property managers must evolve from "toilet fixers" to wealth managers Real Competition: The S&P 500 and other investment vehicles, not other property managers Technology Disruption: AI will automate most traditional PM tasks within 5-10 years Business Model Innovation: Guaranteed rent and profit-sharing models create better alignment Data-Driven Approach: Advanced underwriting and predictive analytics are essential Premium Positioning: Higher fees justified by guaranteed financial outcomes Guest Information Mark Brower is the owner of Arizona's premier property management firm and a thought leader in the real estate investing space. He advocates for transforming property management from a service business to a wealth management partnership. Episode Keywords Property management, real estate investing, S&P 500, wealth management, rent guarantee, business model innovation, AI automation, landlord education, investment returns, profit sharing, data analytics, underwriting algorithms https://www. youtube. com/watch? v=bPYREALg1qwJune 30, 2025 | 54 min | Season 1, Episode 4 Episode 4 - Nathan Payne Wholesaling Real Estate Without the BS Nathan Payne shares his unfiltered journey from knocking on doors to closing wholesale real estate deals—all without the fluff. In this candid conversation, Nathan and Daniel explore the realities of real estate wholesaling, including how reverse wholesaling works, why marketing is non-negotiable, and what most online courses get completely wrong. If you've ever wondered how to break into real estate without owning property, this one's for you. Show Full Transcript ▼ Episode Overview Host: Daniel Shaked (Home365) Guest: Nathan Payne, Real Estate Wholesaling Expert Duration: 52 minutes Topic: Real estate wholesaling strategies, reverse wholesaling, and the future of real estate technology Key Topics Covered Traditional vs. reverse wholesaling methodologies Building sustainable lead generation systems Ethical sales processes in distressed property acquisition International cash buyer opportunities Technology's impact on real estate wholesaling Common misconceptions about wholesaling Market conditions and their impact on wholesaling AI and automation in real estate Secondary market opportunities for investors The future of real estate as a store of value Complete Detailed Transcript Introduction Daniel Shaked: Welcome to Real Estate Investing Open Kimono by Home365. I'm Daniel Shaked and here we are discussing real estate's biggest traps with brutal honesty. No fluff, just raw truth to help you win. And today, get ready to supercharge your wholesaling strategy with one and the only, Nathan Payne, a true trailblazer who is shaking up the game. Nathan Payne: Wow, man, honestly that I'm excited to chat with you like you're telling me you haven't talked to any wholesalers before. Is that what you're saying? Nathan Payne: Who is Nathan Payne? That's what you want to know? Well, I'm 34 years old. I live in Canada now. I used to live in the United States. I lived in Utah. Well, the United States ruined my whole life. And now I live in Toronto, the Toronto area. And my main focus in life is God, family, and then help serving others. Nathan's Journey from Mission to Door-to-Door to Real Estate Nathan Payne: Yeah. So I got started in wholesaling because I didn't want a traditional job. I didn't want to work for anyone. So I'll take it back a little bit. I talk about this a lot, but, I went on, I went after I graduated high school, I went on a mission for my church. So I'm very like involved in, in the gospel and the church. And, basically I went on a mission for two years where I talked to people about God and Jesus Christ from 19 to 21 years old, went to Portland, Oregon. Nathan Payne: They recruit them to go knock doors and sell door to door any, any product that you got alarm systems, got dish net, like satellite TV at the time, cell phones, what else? Pest control, you name it. They, they go to these people because they're like, Hey, you, you just for two years, we're talking to people. You're probably not scared to talk to people and you know how to knock doors and approach people. The Gun Story Nathan Payne: Yeah. Well, so let's, let's go for this, this one. We, I was knocking in Dallas, Texas in the area of Dallas, Texas, maybe 2013 and we were selling satellite TV dish network and direct TV. Now where you would sell the most accounts were like in very rural areas. Nathan Payne: And I'm knocking and it's like eight or nine o'clock at night. We would go till like nine o'clock. and it's pitch black and I'm in this random town. Probably people don't know who, who we are or who I am. I'm knocking on this guy's door to sell him dish network and he opens the door and he has a gun and he's like, what are you doing? And I'm like, I'm all right. And I'm like, I'm here to sell you dish networks, sir. Nathan Payne: leave right now. So that was probably one of the craziest experiences because I realized after the fact of having the gun on me, I was still trying to sell the dish, the dish network, but that was probably one of them. Starting Real Estate Nathan Payne: Yeah, we're working together. so what we did is we, I didn't know anything about real estate, didn't know what wholesaling was. All I knew from my experience was to talk to people, knock doors and just massively make, take action. That's it. That was like what I had learned in my life, but no real skill sets. I would say the skill set was sales, right? Cause you could communicate, but other than that, didn't really know who to target. So we just started knocking doors in neighborhoods. The Power of Taking Action Nathan Payne: Well, I would agree. I would agree because in the beginning, you don't know. Like we even talked about this, this podcast, right? It's like you, you, you're getting started and you have to take action, but you're obviously going to make mistakes that you're not going to take, make in the future, but you have to go through it. Even if you have a mentor, even if you have someone that can help you, you have to take the action to learn. Nathan Payne: for a long enough time to get better. And that's what I've done. And when I coach people and they know what to do, they just aren't willing to do the amount of effort required. And that's why a lot of people don't see the success they want. They're just not willing to do what is required. Understanding Wholesaling Nathan Payne: Okay, so I'll kind of explain. Let me first start off explaining what wholesaling is. So wholesaling, all wholesaling is, is when you talk, when you're talking directly to a seller or an agent and you agree to buy a house for a certain price, right? So let's say you have a house and I agree to... --- > Are you a property management company owner looking for a growth partner? We’re ready to help you scale and grow in your market and beyond! - Published: 2025-05-19 - Modified: 2025-07-06 - URL: https://www.home365.co/partner-with-home365-rea/ Get $1,200 CASH for referrals Zero PM Headaches for Your Client You Keep the Listing For Owners Rent Protection* Repairs Protection* Tenant Screening & Selection Rent Collection & Disbursement *Available exclusively to owners enrolled in the Profit Protect Plan. For Agents $1,200 Referral Commission We Handle Onboarding; You Stay Focused on Deals Unlimited Referrals = Passive Income We Handle Onboarding; You Stay Focused on Deals Why Owners Love Home365 —and Why Agents Earn More With Us Give your investor clients a hands-off experience and collect an extra commission on every closing. Turn every single-family closing into a bonus check. Once you’ve handed the keys to an investor-buyer, simply introduce Home365 as their property-management partner and collect $1200 referral commission—no extra paperwork, follow-ups, or service calls required. We take over from day one, so your time stays free for the next deal. Let's talk! We’re here to answer any questions you may have! Joey SmadarVP of Sales --- > Free NOI Calculator to easily determine the Net Operating Income for property owners—just enter your monthly rent, and it takes care of the rest. - Published: 2024-12-23 - Modified: 2024-12-24 - URL: https://www.home365.co/calculator/ Net Operating Income (NOI) Calculator Our NOI Calculator simplifies the process for property owners. Just input your monthly rent, and the calculator takes care of the rest. Monthly Rent*$ This field is required Update Project your NOI over three years and discover how Profit Protect shields you from inevitable vacancies and big repairs. (Numbers reflect a 3-year period. ) Home365 Profit ProtectHome365 Profit Protect Our competitionsOur competitions Monthly Rent Monthly rent you expect to earn from your property $3,000 $3,000 Estimated Management fee % Actual management fee varies depending on your property’s unique attributes $(504) $(240) Repairs & Maintenance Various wear and tear issues, such as a broken A/C or leaky faucet, and turnover costs $(0) $(438) Leasing, Renewal & Processing Fees Costs for advertising vacancies, tenant screenings, lease renewals, evictions, and legal processing $(0) $(111) Vacancy Periods when a property is unoccupied, leading to lost rental income and turnover costs $(0) $(124. 5) Delinquency Missed or late rent payments from tenants, leading to lost income and potential legal costs $(0) $(124. 5) Net Operating Income Your rental income minus operating expenses and vacancies $2496 83. 2. 0% $1959 65. 3% Save up to 17. 9% Why is Net Operating Income important? Which Property Should You Buy? Net Operating Income (NOI) is a vital metric for property owners and investors alike, offering valuable insight into a property's profitability. By calculating NOI, you can quickly assess whether your rental income outweighs your operating expenses, making it easier to determine if owning and maintaining a property is financially worthwhile. How Can You Protect Your Net Operating Income? For investors, understanding NOI allows for smarter comparisons across multiple properties, as it standardizes profitability metrics. With our Profit Protect Plan, your NOI becomes both higher and more predictable. By covering vacancy, delinquency, and other common expenses, we help ensure your property consistently generates strong returns. This stability in income allows you to make informed decisions with confidence, knowing that your NOI is optimized and reliable, aligning seamlessly with your financial goals and investment strategy. NOI and Cap Rate Cap Rate is a crucial metric for real estate investors, showing the potential return by comparing a property’s NOI to its market value or purchase price. The formula is simple: Cap Rate (%) = Net Operating Income (NOI)÷Property Value For example, if a property has an NOI of $40,000 and a value of $500,000, the Cap Rate is 8%. A higher Cap Rate typically suggests a higher return on investment, though it may also come with increased risk. For investors with a more conservative approach, a stable, lower Cap Rate might be preferable, while those seeking higher returns might pursue properties with a higher Cap Rate. Conclusion When assessing a property’s potential, NOI is a crucial indicator of how well its income measures up against its operating costs. With our Profit Protect Plan, we go beyond simply reducing expenses—we cover your losses from vacancy, delinquency, and more, ensuring a higher, more stable NOI. Ready to protect your profits? Get a Detailed Quote in 60 Sec --- > Home365's Profit Protect plan guarantees rent and covers repairs, offering hands-off investors the confidence that their property and income are fully protected - Published: 2024-10-23 - Modified: 2025-07-29 - URL: https://www.home365.co/profit-protect-new/ Profit Protect: Your Performance Guarantee If you're looking to minimize risk and enjoy steady, predictable returns, Profit Protect is the ideal solution. This comprehensive plan provides peace of mind by effectively "insuring" your operational costs, including vacancies, repairs, and tenant turnovers, ensuring that you can focus on your investments without the stress of unexpected expenses. Our plan guarantees your rental income and covers essential property maintenance, offering hands-off investors the confidence that their assets and revenue are secure. Whether you're managing one property or a larger portfolio, Profit Protect ensures consistent cash flow while keeping costs predictable. Additionally, the plan is flexible and customizable to suit your needs. You can adjust property management fees and monthly premiums by selecting a higher deductible, giving you control over your financial strategy. Features Guaranteed Rent, Stress-Free Whether your tenant is late on payments or the property is vacant, we’ve got you covered. With our Rent and Vacancy Protection, you can rest easy knowing that your rental income won’t stop flowing – no matter what happens. View example Comprehensive Maintenance and Repairs Coverage Say goodbye to repair worries. With Home365, our expert-vetted vendors handle every repair with care and precision. It's in our best interest to ensure issues are resolved the first time because if a vendor's work falls short, we pay to have it fixed again – not you. This means you’ll never have to stress about recurring issues or unexpected costs. Simply sit back while we manage it all. View example Stress-Free Property Management Our Profit Protect Plan takes full-service management to the next level, making it possible for you to be completely hands-off. From tenant screening and rent collection to maintenance and turnover, we handle every detail so you don’t have to. This plan is perfect for investors who want to be passive while still reaping the benefits of owning rental properties. What owners say "Love the Portal! Online payments are a game-changer. So easy to use. " Eddie "Managing maintenance across multiple properties has never been easier. The Owner Portal keeps everything organized. " Jane "The dashboard is my favorite! I get a snapshot of all my properties' performance in seconds. " Barry --- > Check out how satisfied home365's customers are with some of their reviews. Join the leading property management solution and be a happy client as well! - Published: 2024-07-25 - Modified: 2025-05-22 - URL: https://www.home365.co/reviews/ Hear from our happy customers 4. 3 4. 5 "I love the predictable income, no surprises"Laura WilliamsHomeowner from Canada“Our property manager is so knowledgeable about the market”Azadeh VincentHomeowner from Las Vegas“The difference between Home365 and traditional agencies”Chris SumawayHomeowner from Las Vegas “I was very impressed with your maintenance team”Laura WilliamsHomeowner from Canada“I like that Home365 shares the risk too”Chris SumawayHomeowner from Las Vegas“Haley, Our PM, is always there for us”Azadeh VincentHomeowner from Las Vegas"I love the predictable income, no surprises"Laura WilliamsHomeowner from Canada“Our property manager is so knowledgeable about the market”Azadeh VincentHomeowner from Las Vegas“The difference between Home365 and traditional agencies”Chris SumawayHomeowner from Las Vegas “I was very impressed with your maintenance team”Laura WilliamsHomeowner from Canada“I like that Home365 shares the risk too”Chris SumawayHomeowner from Las Vegas“Haley, Our PM, is always there for us”Azadeh VincentHomeowner from Las Vegas × Alexander Olson 15/10/2024 Erin, our customer success manager, has been incredibly helpful when I have questions or issues come up. She lowers my stress level constantly and makes me feel great about our property manager. We plan to move another property to Home365 soon! Read More Read Less Chad Fox 15/10/2024 Overall, we have been pleased with performance of Home365. While the property management business is a challenging business, our property manager, Erin Shaffer, has done an excellent job at staying on top our properties and any situations we run into. She is attentive and understands our needs very well. Read More Read Less Sly Mitchell 15/10/2024 Home365 and my customer success manager Jenna Timas have made this the best management company I've ever used in over 30 years as a landlord. Problems are resolved quickly or prevented entirely by the team of people associated with my account. I recommend Home365! Read More Read Less Lottie Y 15/10/2024 Switching to Home365 was one of the best decisions I've made as a property owner. Their comprehensive coverage, including rent guarantees and home warranties, provides unparalleled peace of mind. Even when my property was vacant, I received rent payments, and I never had to worry about repair costs. Their efficient management has saved me time and hassle, making it a hassle-free experience. Highly recommended for any property owner! Read More Read Less Danielle Dragonetti 08/02/2024 The leasing team was AWESOME! . Paola was amazing and handled everything accordingly. We had a few speed bumps along the way, but she was very diligent, and it was greatly appreciated! Read More Read Less Christopher Nasca 15/10/2024 I am very pleased to have Justin Cornell as my Home365 Customer Success Manager. Justin not only does an excellent job managing all the day-to-day property management functions, he is also very focused on providing the best tenant customer experience which is extremely important to me. Justin is my most valuable asset at Home 365. Read More Read Less Mya Morris 15/10/2024 I submitted an inquiry through the Home 365 portal and was assisted by Idaly Moriel. She went above and beyond to help us with any questions and concerns we had in regards to renewing our lease. We are very satisfied with her service. She was very polite and understanding, in helping us with all the issues and concerns that we had in a quick, timely manner. Read More Read Less Cierra Stokes 12/09/2024 Overall communication was 10/10! My repairs were fixed promptly without any hassle. Thank you Daniela Razo & Jesus with J&e Construction! I will highly recommend & reach out if I need anymore assistance with my unit :) Read More Read Less Theo Stokes 12/09/2024 Home365 is a welcome relief for me. I do not live the State of my property so it is crucial to have a good property manager. Erin has kept me informed on all decision and keeps me updated on any issues or concerns. Im happy with my decision to move away from Rentwell and would recommend Home365 going forward. Read More Read Less Claudia Garcia 17/04/2024 Working with Home365 has been an outstanding experience, largely due to their efficiency and the exceptional team they've put together. In particular, Juan and Sabrina stand out as rockstars of the operation, making every interaction smooth and productive. Their professionalism, combined with a keen eye for detail and exemplary communication skills, has greatly contributed to the success of our collaborations. Home365's dedication to excellence, spearheaded by talents like Juan and Sabrina, sets them apart in the property management field, and I highly recommend them to anyone seeking reliable and effective property management services. Read More Read Less George Welborn 17/04/2024 Nice to work with someone who does a great job of communicating with the Home365 customers. Makes life much easier for the property owners. Thanks to Jenna for job well done. Read More Read Less Alexander Olson 15/10/2024 Erin, our customer success manager, has been incredibly helpful when I have questions or issues come up. She lowers my stress level constantly and makes me feel great about our property manager. We plan to move another property to Home365 soon! Read More Read Less Chad Fox 15/10/2024 Overall, we have been pleased with performance of Home365. While the property management business is a challenging business, our property manager, Erin Shaffer, has done an excellent job at staying on top our properties and any situations we run into. She is attentive and understands our needs very well. Read More Read Less Sly Mitchell 15/10/2024 Home365 and my customer success manager Jenna Timas have made this the best management company I've ever used in over 30 years as a landlord. Problems are resolved quickly or prevented entirely by the team of people associated with my account. I recommend Home365! Read More Read Less Lottie Y 15/10/2024 Switching to Home365 was one of the best decisions I've made as a property owner. Their comprehensive coverage, including rent guarantees and home warranties, provides unparalleled peace of mind. Even when my property was vacant, I received rent payments, and I never had to worry about repair costs. Their efficient management has saved me time and hassle, making it a hassle-free experience. Highly recommended for any property owner! Read More Read Less Danielle Dragonetti 08/02/2024 The leasing team was AWESOME! . Paola was amazing and handled everything accordingly. We had a few speed bumps along the way, but she was very diligent, and it was greatly appreciated! Read More Read Less Christopher Nasca 15/10/2024 I am very pleased to have Justin Cornell as my Home365 Customer Success Manager. Justin not only does an excellent job managing all the day-to-day property management functions, he is also very focused on providing the best tenant customer experience which is extremely important to me. Justin is my most valuable asset at Home 365. Read More Read Less Mya Morris 15/10/2024 I submitted an inquiry through the Home 365 portal and was assisted by Idaly Moriel. She went above and beyond to help us with any questions and concerns we had in regards to renewing our lease. We are very satisfied with her service. She was very polite and understanding, in helping us with all the issues and concerns that we had in a quick, timely manner. Read More Read Less Cierra Stokes 12/09/2024 Overall communication was 10/10! My repairs were fixed promptly without any hassle. Thank you Daniela Razo & Jesus with J&e Construction! I will highly recommend & reach out if I need anymore assistance with my unit :) Read More Read Less Theo Stokes 12/09/2024 Home365 is a welcome relief for me. I do not live the State of my property so it is crucial to have a good property manager. Erin has kept me informed on all decision and keeps me updated on any issues or concerns. Im happy with my decision to move away from Rentwell and would recommend Home365 going forward. Read More Read Less Claudia Garcia 17/04/2024 Working with Home365 has been an outstanding experience, largely due to their efficiency and the exceptional team they've put together. In particular, Juan and Sabrina stand out as rockstars of the operation, making every interaction smooth and productive. Their professionalism, combined with a keen eye for detail and exemplary communication skills, has greatly contributed to the success of our collaborations. Home365's dedication to excellence, spearheaded by talents like Juan and Sabrina, sets them apart in the property management field, and I highly recommend them to anyone seeking reliable and effective property management services. Read More Read Less George Welborn 17/04/2024 Nice to work with someone who does a great job of communicating with the Home365 customers. Makes life much easier for the property owners. Thanks to Jenna for job well done. Read More Read Less As seen in 7,331 + Happy Homeowners $1. 5M + Paid for Rent Relief $1. 4M + Paid for Repairs --- > Discover our commitment to high-quality property management services. We ensure homeowners enjoy a hassle-free real estate investment experience. - Published: 2024-06-17 - Modified: 2025-05-22 - URL: https://www.home365.co/statement-of-commitment/ Unlocking Real Estate Investing for All At Home365, we understand the challenges that often discourage individuals from investing in real estate. We believe that everyone deserves the opportunity to benefit from passive, predictable income that real estate investments have to offer. Through years of dedication, we've democratized real estate investing and property management, making it accessible to all. By partnering with the best local vendors, we equip our customers with the knowledge and confidence they need to handle their properties stress free. Here at Home365, we firmly believe that our clients deserve to spend their time on what truly matters, free from the burden of traditional property management stresses. Our Core Values At Home365, our dedication to exceptional service is fueled by five core values that guide everything we do: Customer Obsession We prioritize understanding your needs and exceeding expectations at every turn. Radical Transparency We believe in open communication and clear information. Extreme Ownership We take full responsibility for our actions and the results we deliver. Teamwork Our team of local specialists and technology experts work together seamlessly to ensure your property is well-managed. Being a Doer We don't wait for problems to arise, we actively work to resolve any issue and we're not satisfied until the job is done, and done right. Measurable Commitments We translate our core values into tangible results through measurable commitments By the next business day Average response time to any type of outreach by a tenant, owner or rental applicant By the next business day Average response time to maintenance requests 90% Of repair requests resolved within 2 business day 95% of turnovers completed within 14 days and 100% with no longer than 21 days 100% Of repairs resolved within 3 business days 2 hours Response to our maintenance emergency line 24/7 access to a secure online portal Availability of online portal to access property information & documents 95% or higher Average satisfaction rating on communication (measured through quarterly surveys) Continuous Improvement We are dedicated to ongoing evaluation and improvement of our services. We regularly analyze data, gather client feedback, and implement innovative solutions to ensure we consistently exceed expectations. At Home365, we are passionate about delivering exceptional property management services and empowering you to achieve your real estate investment goals. We go beyond just managing your property – we manage your peace of mind. Have a problem or concern? Write directly to our CEO at ceo@home365. co. We are committed to open communication and addressing any issues you may have. --- > Your Free, Comprehensive Property Management Software for Efficient and Transparent Operations. Everything you need to manage your single-family rentals is right here. - Published: 2024-05-19 - Modified: 2025-05-21 - URL: https://www.home365.co/owner-portal/ https://youtu. be/7ilawd_pAlM Tired of the endless paperwork and juggling multiple platforms? Say goodbye to the hassle. The Owner Portal is our property management software that gives you back your time and peace of mind. Everything you need to manage your single family rentals is right here, organized and accessible, so you can focus on what truly matters. Oh, and did we mention it's free? Portal Features Online Payments Collect rent effortlessly online, no checks required. Tenants enjoy multiple payment options and can even set up Autopay for worry-free, on-time payments. View your transaction history and access your funds anytime, anywhere for ultimate financial control. Financial Reports Get a crystal-clear view of your property's financial performance with detailed reports on income, expenses, and profitability. Enjoy complete transparency thanks to your property management software, with every detail clearly outlined - from repair work costs to management fees. Our reports provide a comprehensive overview of your investment, making tax time a breeze and empowering you to make informed decisions for your portfolio. https://www. home365. co/wp-content/uploads/2024/06/Work-order-for-approval-1. mp4 Maintenance Tracking Take control of property maintenance with ease. Track every job, from initial request to completion, and monitor costs in real-time. Upload photos and videos of issues directly to the portal for efficient communication with your property manager. Stay informed every step of the way by viewing before/after photos and videos uploaded by vendors, ensuring transparency and peace of mind with every repair. Live Property Dashboard The Live Property Dashboard provides instant insights into your property's performance, with live updates on income, expenses, occupancy, and more. View detailed breakdowns for each property or an overview of your entire portfolio, giving you the information you need to make informed decisions and manage your investments efficiently. https://www. home365. co/wp-content/uploads/2024/05/Customer_Support. mp4 Support Center Get the support you need, when you need it. Reach out via Zoom for personalized assistance, submit a ticket for efficient tracking and resolution, or browse our extensive FAQ library for quick answers to common questions. In case of emergencies, we also offer a dedicated phone line for immediate support. Easily track the status of your open tickets or review past inquiries for reference, ensuring a seamless and convenient support experience. What owners say "Love the Portal! Online payments are a game-changer. So easy to use. " Eddie "Managing maintenance across multiple properties has never been easier. The Owner Portal keeps everything organized. " Jane "The dashboard is my favorite! I get a snapshot of all my properties' performance in seconds. " Barry --- > Are you a property management company owner looking for a growth partner? We’re ready to help you scale and grow in your market and beyond! - Published: 2023-09-26 - Modified: 2024-10-06 - URL: https://www.home365.co/servicepro/ Reliable Payment Say goodbye to late payments and unpredictable income. We pride ourselves on prompt and fair compensation for your services. Efficient Scheduling & Communication Our efficient scheduling system enhances productivity. As a Home365 Vendor, you'll access the Vendor App to bid, view maintenance project videos, and deposit funds to your bank account. Market Exposure Partnering with us provides exposure to a wider client base, boosting your reputation and customer trust. You can also reduce the time and money spent on marketing your services, as we bring clients directly to you. Professional Support We have a dedicated support team available to assist with any questions or issues, making your partnership experience smooth and stress-free. Business Growth Joining our network can lead to significant business growth as you tap into a steady stream of projects. Diverse Project Portfolio We offer a wide variety of property types and maintenance tasks, keeping your work exciting and challenging. Ready to Join Us? Fill out the form below We’re here to answer any questions you may have! At Home365, we value our vendor partnerships and are always looking for talented professionals to join our team. If you're ready to take your property maintenance business to the next level and enjoy the benefits of a stable and rewarding partnership, fill out our vendor information request form today. Partner with us and be part of a thriving community of service professionals dedicated to delivering top-notch property maintenance solutions. Together, we can make properties safer, more efficient, and more beautiful. --- > Are you a property management company owner looking for a growth partner? We’re ready to help you scale and grow in your market and beyond! - Published: 2023-08-15 - Modified: 2024-08-23 - URL: https://www.home365.co/gigs/ Your Time, Your Terms, Your Earnings Embrace the freedom of working on your schedule. With our platform, you can choose tasks that fit your availability, and every completed task is rewarded. Simple Tasks, Significant Impact It's amazing how small actions can create a big impact. By assisting in tasks like showing homes or conducting inspections, you're making life smoother for others. Unlock Your Earning Potential Ready to earn extra cash without committing to a full-time job? Our platform provides an opportunity to monetize your time and skills. Make a Difference, One Task at a Time. Become a vital part of our community by taking on simple yet impactful tasks. Whether it's showing homes, ensuring important notes are delivered, or conducting move-in and move-out inspections, you can help others while earning extra income. Become a Field Agent How much can I earn? Inspections Earning $40 to $60 per inspection Conducting thorough inspections of rental properties before tenants move in or after they move out to document the condition and ensure proper maintenance. Delivery of notices Earning $20 to $40 per deliver Swiftly delivering time-sensitive notes to tenants by hanging them on property doors, facilitating urgent communication. Showing homes Earning $40 to $60 per showing Conducting guided home tours for renters through available properties, offering an immersive experience that showcases the unique features and suitability of each home. Requirements Age Home365 Taskers must be 18 years or older Vehicle Any car, scooter, or bicycle (in select cities) Documentation Driver license number, Social Security number, consent to a background check --- > Are you a property management company owner looking for a growth partner? We’re ready to help you scale and grow in your market and beyond! - Published: 2023-06-22 - Modified: 2023-06-23 - URL: https://www.home365.co/referral-agreement/ We’re here to answer any questions you may have! --- > Are you a property management company owner looking for a growth partner? We’re ready to help you scale and grow in your market and beyond! - Published: 2023-05-17 - Modified: 2023-05-22 - URL: https://www.home365.co/forum/ Want to become a partner, provide referrals, are you an investor, or simply want to learn more? Get started Let's talk! Home365 provides real estate investors with a predictable, stress-free income and tenants with a comfortable, hassle-free home. Our state-of-the-art technology has helped thousands of customers build their real estate portfolios and grow their wealth. It also ensures we can deliver a seamless, personalized service from day one. Investors can log into their online dashboards at any time to check on their properties, while tenants can use it to report any issues they need sorting. Wherever you are, we have a team ready to act quickly to meet your needs. This combination of artificial intelligence and personal touch offers investors and tenants a life-changing experience built on reliability and accessibility. Are you a turnkey operator, wholesaler, or real estate agent looking to get paid $500 on referral leads? Get started --- > Are you a property management company owner looking for a growth partner? We’re ready to help you scale and grow in your market and beyond! - Published: 2023-05-04 - Modified: 2023-05-04 - URL: https://www.home365.co/invest-like-a-master/ Don’t wait - Enter the sweepstakes and win big! Fill out the form below to enter for your chance to win 1 year of MasterClass and 1 year of OneRate from Home365 Property Management! Home365 at IMN SFR East 2023 --- - Published: 2023-02-28 - Modified: 2023-03-02 - URL: https://www.home365.co/hebrew-landing/ יותר רווחי, חזוי ויעיל OneRate חברת ניהול נכסים חדשנית וטכנולוגיתשנותנת לכם רשת ביטחון רחבה מפני בעיות עתידיות של הנכס בתעריף אחד משתלם לקבלת הצעה למידע נוסף . כל השירותים כלולים בתעריף אחד . ללא עמלות ועלויות לא ידועות עלויות פרסום הנכס ביטוח שכרדירה ניהול הנכסוהדייר עלויות תחזוקהותיקונים למה דווקא אנחנו https://www. youtube. com/watch? v=qzdldpqnhUI OneRate שלם אמון דורש שקיפות. מודל OneRate חסר התקדים שלנו כולל את עלות התחזוקה, הכנת הנכס לדייר חדש, ניטור המערכת ועוד. משמעות הדבר היא אפס עמלות או עלויות לא ידועות עבור בעלי הנכס שלנו. תשכחו מעלויות תחזוקה אלגוריתמים של חיזוי, חיישני ניטור, פרוייקטי תחזוקה ייזומים למנוע אירועים לא רצויים. מגדילים את ערך הנכס שלך ומגנים עליך מפני התחייבויות אפשריות. לחזות רווחים הרווחים שלך = השכרה - הוצאות. פיתחתנו טכנולוגיה חדשנית כדי להסיר את הסיכונים ואת הבלתי ידוע מניהול הנכס - תוך מזעור הלחץ מהבלתי ידוע ומקסום ההחזר על ההשקעה שלך. ? רוצה לשוחח אנחנו כאן לענות על כל השאלות שיש לך --- - Published: 2023-02-23 - Modified: 2023-03-08 - URL: https://www.home365.co/traditional-agreement/ T&C last update: April 2021 - V1004 Traditional Property Management and Brokerage Agreement This “TRADITIONAL” RESIDENTIAL PROPERTY MANAGEMENT AND BROKERAGE AGREEMENT (the “Agreement,” or “PMA”), is entered into as of the Effective Date as indicated on the Signature Page as defined below (the “Effective Date”), by and among the Owner(s) as indicated on the Signature Page as defined below (the “Owner”) and HOME365 LAS VEGAS INC. , a Nevada corporation (“Property Manager”) by and through its authorized agent Ron Nir, Broker License Number 143667 and Property Management License Number 165042 (the “Agent”), together with Home365 signature page (the “Signature Page”), attached hereto and incorporated by this reference herein, for the management of the property or properties as indicated on the Signature Page (the “Property” or “Properties”). In consideration of the mutual covenants, promises and agreements hereinafter set forth and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereby agree, confirm and reaffirm the following: 1. NOTICES Any notice, demand, or communication required or permitted to be given by any provision of this Agreement, or is given in connection with this Agreement, shall be in writing, and shall be deemed to have been sufficiently given or served if (i) sent by overnight courier; (ii) mailed by certified first-class mail, postage prepaid, return receipt requested; (iii) sent by e-mail transmission, or (iv) sent by facsimile. The parties hereto agree that all such notices shall be delivered to the addresses specified below, or in the Signature Page, provided that any party may change its address by giving written notice to the other parties to that effect, per this Section I. If to Owner(s): See Signature Page. If to Property Manager: Home365 Las Vegas Inc. 9157 W. Flamingo Rd. , Ste 102 Las Vegas, NV 89147 702-998-9707 ron@home365. co; www. home365. co/help/ A written notice shall be effective on the date that such notice is sent, mailed, or faxed, whichever is sooner. No objection shall be made by any party as to the manner of delivery of any notice if actual receipt is acknowledged in writing by an authorized agent of the opposing party. Back to Top 2. EMPLOYMENT OF MANAGING BROKER/DESIGNATED PROPERTY MANAGER. A. Employment and Acceptance. Owner employs Property Manager as the sole exclusive agent of Owner to lease and manage the Property which includes listing the Property for lease and securing a tenant (each a “Tenant”), upon the terms and conditions provided herein. Property Manager accepts the employment and shall furnish the services provided for in this Agreement (the “Services”). Owner shall pay all of the expenses in connection with this service described herein. Owner understands and agrees that Services will be performed through one or more authorized agents, and any reference to Property Manager in this Agreement includes such authorized agents. B. Relationship of Property Manager to Owner. The relationship of the Parties to this Agreement shall be that of principal and agent. Except as expressly agreed herein, all duties to be performed by Property Manager under this Agreement shall be on behalf of Owner, in Owner’s name, and for Owner’s account. In taking any action under this Agreement, Property Manager shall be acting only as agent for Owner, and nothing in this Agreement shall be construed as creating a partnership, joint venture or any other relationship between the Parties or as requiring Property Manager to bear any portion of losses arising out of or connected with the ownership or operation of the Property. Property Manager shall not at any time during the period of this Agreement be considered a direct employee of Owner. Property Manager, under this Agreement, shall not be responsible for delays in the performance of any obligation unless there is an intentional delay caused by Property Manager or its agents and employees. C. Term. The term of this Agreement shall be for an initial period of 1 (One) years (the “initial term”) as stated in the Signature Page. Unless earlier terminated as provided in This Agreement 19, or converted to Property Manager’s OneRate agreement, the Agreement will automatically renew annually for successive periods of one (1) year each. D. PROPERTY MANAGER COMPENSATION AND EXPENSES. As compensation for the Services rendered by Property Manager under this Agreement (and exclusive of reimbursement of the expenses to which Property Manager is entitled hereunder), Owner shall pay Property Manager as follows: (1) Management Services. Property Manager shall be paid . (“Rent” or “Rents”) Payments due to the Property Manager for periods of less than the scheduled rental periods shall be prorated. If the Property is vacant and until the Property is leased, a vacant property fee shall be paid to the Property Manager in the following amount: $ 50. 00 per month of vacancy. (2) Leasing Fee. For the procurement of a Tenant(s) for whom a lease (the “Lease”) is signed, Property Manager shall be paid a leasing fee of $500. 00. (3) Set-Up Fee. For entering the Property into Property Manager’s property management system, Property Manager shall be paid a one-time, non-refundable fee of $0. 00. Additionally, Property Manager shall be paid a one-time, non-refundable fee of $200. 00 each time a new Tenant is placed in the Property. (4) Referral Commission. Owner also authorizes payment of an MLS referral commission to the referring broker not to exceed $250. 00. Owner shall pay the commission within thirty (30) days of the commencement of the Lease. Owner understands and agrees that such commission will be paid to any real estate broker (including Property Manager leasing staff) who brings a qualified Tenant that results in a signed Lease. (5) Lease Renewals. For Lease renewals, Broker shall be paid a renewal fee of $200. 00. (6) Advertising. Owner agrees to pay in advance for any and all advertisements placed on Owner’s behalf. The minimum advertising fee is $150. 00. Unless specified by Owner in writing, Owner agrees that all advertising (including choice of media) shall be made in the Property Manager’s sole discretion. (7) Interest on Unpaid Sums. Any sums due to Property Manager under the terms of this Agreement, and not paid within 30 days after such sums have become due, shall bear interest at the rate of 10. 00% per annum. (8) Extraordinary Services. An hourly fee of $30. 00 per hour shall be paid to Property Manager for all necessary or requested tasks, not considered regular management duties. These include attendance at eviction or other court proceedings, HOA meetings, HOA compliance hearings (including Ombudsman hearings), or any other related activity not considered regular management duties. (9) Termination Fees. Additional fees may be due upon Termination of this Agreement as set forth herein. (10) Collection Fees. If Property Manager institutes any action for the collection of amounts due and payable hereunder, Owner shall pay, in addition to the amounts due and payable under this Agreement, all reasonable costs and attorney’s fees incurred by Property Manager in connection with collecting under this Agreement. (11) Termination through Property Sale. Owner agrees that if it or any of its Affiliates offers any of the Properties covered by this Agreement for sale or other disposition or transfer, it will hire Broker to act as seller’s exclusive broker and listing agent on behalf of Owner at a standard real estate broker’s commission for such properties, and without precluding Property Manager or its Affiliates from acting as buyer’s broker in a dual representation. Should Property Manager not be appointed on an exclusive basis then Owner shall pay Property Manager, a fee of one three quarters of one percent (0. 75%) of the Property’s sales price including any carryback amount, in addition to any other broker or listing fees it may agree with the Property Manager. For this additional fee, the Property Manager will provide necessary financial, banking, reporting, and repair and maintenance documents, as well as inspection and insurance information if any, rent roll, and accommodate and assist with showings. The fee owed by the seller to the Property Manager shall be part of the closing statement and shall be paid as a condition to the closing of escrow. E. BANK ACCOUNTS (1) Trust Accounts. Property Manager shall establish a separate Trust Account, apart from any company or corporate account, for the deposit of collected receipts in an institution whose deposits are insured by the federal government. Property Manager shall select such a depository in its sole discretion. Designated funds relating to the Property in the Trust Account remain the property of Owner subject to disbursement of expenses by Property Manager as described in this Agreement. Property Manager will retain any interest accrued on this account (2) Initial Deposit and Reserve. Immediately upon commencement of this Agreement, Owner shall remit to Property Manager the sum of per Property, as a reserve. Owner shall maintain the reserve stated above at all times in the Trust Account to enable Property Manager to pay the obligations of Owner under this Agreement as they become due. Property Manager shall notify Owner if additional reserve funds are required. (3) Property Manager is not required to advance funds. If the balance of the Trust Account is at any time insufficient to pay disbursements due and payable, Owner shall, not later than ten (10) days after notice, remit to Property Manager sufficient funds to cover the deficiency and replenish the contingency reserve. In no event shall Property Manager be required to use its funds to pay such disbursements, nor shall Property Manager be required to advance any monies to Owner or the Trust Account. Property Manager shall advise Owner in writing when additional funds are needed. (4) Security Deposit Trust Account. If any Security Deposit is collected from a Tenant (“Security Deposit “) Property Manager shall deposit it into Property’s Manager’s Security Deposit Trust Account and disburse it in accordance with NRS Chapter 118A. Any interest earned on a Security Deposit shall be retained by Property Manager. F. COLLECTION OF RENTS AND OTHER RECEIPTS (1) Property Manager’s Authority. Except as expressly provided in this Agreement, including under sub-sections (3) & (4) below, Property Manager shall collect all Rents, charges and other amounts receivable on Owner’s account in connection with the management and operation of the Property, and shall be deposit those in the Trust Account. (2) Special Charges. If permitted by applicable law, Property Manager may collect from Tenant and retain any and or all, but not limited to the following: an administrative charge for late payment of Rent, a charge for returned or non-negotiated checks, interest, a rental application fee and any other fees as determined by Property Manager. Late fees will be retained by Property Manager. (3) Disclosure regarding Security Deposit Requirements. To decrease the time of vacancy of any Property, and for other business and marketing considerations to the mutual benefit of the Parties, Property Manager shall be entitled in its sole and absolute discretion to determine the Tenant’s obligations regarding a Security Deposit, including without limitation, the amount of the Security Deposit, the timing of the payment of a Security Deposit, and/or not requiring a Tenant to provide a Security Deposit at all, but instead to pay increased Rent, and other options that Property Manager may develop from time to time. If it alters the Security Deposit obligation of Tenant in any way, Property Manager shall be entitled to any excess payment, which will usually be via higher Rent. In cases where a Security Deposit is not required, Property Manager’s decision shall neither reduce nor waive the Tenant’s obligations to pay for any damages resulting from any breach of the Lease by the Tenant, nor shall it otherwise impair the Property Manager’s obligations under this Agreement or Nevada law. However, if a Tenant does not place a full Security Deposit, Property Manager will reimburse Owner for any damages or unpaid Rent up to, but not exceeding one month’s Base Rent. However, in exchange for this promise of reimbursement, Property Manager’s total limit of liability under this paragraph shall be limited to one month’s Base Rent, and without that cap, Property Manager would not accept this reimbursement obligation. However, if this Agreement is terminated for any reason, Property Manager’s reimbursement obligation shall cease, but Owner may, as negotiated by the Lease, in its sole discretion, give written demand to Tenant to place the full Security Deposit. (4) Other Charges May Be Assessed to Tenant and Retained by Property Manager. From time to time in Property Manager’s sole discretion, it may charge Tenant for optional services or products e. g. , Internet access, security monitoring, appliance reporting, and remote access, “smart home” features, and others as technology and Tenants’ requests develop over time. Property Manager may include charges for such services or products in the Lease as part of Rent or Additional Rent, or separately in an agreement with Tenant, and may brand the same under Property Manager’s name or a different name altogether. In all such instances, Owner grants Property Manager or its Affiliate, in their sole discretion, the right to offer, provide, and charge for such services and products as they see fit. No portion of any amount collected by Property Manager shall belong to Owner, and all such amounts shall belong solely to Property Manager and/or its Affiliate, and specifically, no amount collected under this paragraph by Property Manager or its Affiliate shall alter or increase the Rent Guarantee amount agreed to by the Parties. G. DISBURSEMENTS OF RENTS AND OTHER RECEIPTS (1) Operating Expenses. From the Trust Account, Property Manager is hereby authorized to pay for all expenses and costs of operating the Property and for all other sums due to Property Manager under this Agreement, including Property Manager’s compensation. (2) Debt Service. If Owner and Property Manager mutually agree in writing, Owner shall give Property Manager advance written notice of at least thirty (30) days to make any additional monthly or recurring payments (such as mortgage indebtedness, general taxes, special assessments or insurance premiums) out of Owner’s proceeds from the Property. If Owner notifies Property Manager to make such payments after the beginning of the term of this Agreement, Property Manager shall have the authority to name a new contingency reserve amount, and Owner shall maintain this new contingency reserve amount at all times in the Trust Account. (3) Net Proceeds. To the extent that funds are available and after maintaining the cash contingency reserve amount as set forth above, Property Manager may transmit the cash balances to Owner or as otherwise directed by Owner in writing. Net proceeds are defined as the amount after all costs and expenses are deducted by Property Manager. Property Manager may deduct from the Property’s gross proceeds such reserves and any amounts it, in its sole discretion, needs to be withheld for future expenses or contingencies, including possible vacancy or rent abatement or limitation. H. FINANCIAL AND OTHER REPORTS (1) Owner/IRS Relationship. Owner is required to file all required Internal Revenue Service (IRS) forms and meet all IRS requirements. Owner agrees to... --- > Join An Exciting, Young & Promising Technology Powered, Silicon Valley Based Property Management Startup Company. - Published: 2023-02-23 - Modified: 2023-05-24 - URL: https://www.home365.co/jobs/ Home365 is a Technology Company based in the heart of Silicon Valley with offices in cities across the world. After a large Series B Round of funding, Home365 is backed by the most respected Venture Capitalist and Corporate Venture Capitalist firms to provide the funding to build world class products and services. Through cutting edge tech, Home365 transforms how people experience investing in Real Estate - making it profitable, predictable, and passive. Benefits Real Estate Investing Coaching and GuidanceDental insurance / Health insurance / Vision insurance401K Plan15 Days PTOPaid HolidaysWellness Programs Employee Engagement Monthly All Hands MeetingsFun Team Events & ActivitiesHoliday Gatherings & CelebrationsAccess to Real Estate Investing Experts Previous Next You will encounter one of the most open, multinational, and no-BS work cultures - we cherish and thrive on promoting and realizing ideas from the brainstorm session to the real world. We are currently managing and insuring over 7,000 properties in 6 states and 14 metros and seeing growth through various channels. --- > Browse Some of our Most Frequently Asked Questions About Property Management. - Published: 2023-02-22 - Modified: 2024-11-03 - URL: https://www.home365.co/faqs/ FAQ --- > Are you a property management company owner looking for a growth partner? We’re ready to help you scale and grow in your market and beyond! - Published: 2022-05-03 - Modified: 2024-10-06 - URL: https://www.home365.co/partner-with-home365/ Get $500 CASH for referrals Access to our network of 1,000+ investors Become a verified and preferred partner for our clients Our preferred partners At Home365, teamwork and collaboration are at our core and we strive to provide our customers with the highest quality service available. That includes being a resource for your other real estate investing needs. Our preferred partners are some of the best in their fields. Let's talk! We’re here to answer any questions you may have! Chris BudelliVP of Partnerships --- > Looking For Property Managers? A Simple Hack To Be Part Of Our Movement Is By Searching For Property Managers Near Me. Click Here To Find Out More Details - Published: 2021-07-20 - Modified: 2023-02-28 - URL: https://www.home365.co/apply-to-rent/ Interested in renting? Browse our rentals and apply in minutes GO --- > Home365 Is a Property Management Company that Deals With Residential And Commercial Management To Save You The hassle. Click Here For our terms of service - Published: 2020-07-10 - Modified: 2024-01-23 - URL: https://www.home365.co/terms-of-service/ Last updated: December 9, 2023General TermsThese Terms of Service (“Terms”) constitute a legally binding agreement between ClipCall Inc. (“we”, “us”, “our”, “Home365” or “ClipCall“) and users of our Services (defined below) (“User” or “you“). These Terms govern your use of the ClipCall mobile application (“App”), the website located at https://www. home365. co (the “Site”), and services offered via or in connection with the App and/or the Site (collectively the “Services”). The Services are provided to property managers (“Property Managers”) who have signed up for Home365’s Service Program (“Program”), their tenants (each a “Tenant”) and/or service providers (“Service Providers”) who have agreed to provide services in connection with the Program. Certain provisions of these Terms apply only to Property Managers or to Tenants or to Service Providers, respectively, as described more fully below. By using or accessing the Services or downloading the App, you represent that (1) you have read, understand and agree to be bound by these Terms, (2) you are at least 18 years old and of legal age to form a binding contract, and (3) you have the authority to enter into these Terms personally (or on behalf of the entity that you have named as the user, and to bind that entity to these Terms). IF YOU DO NOT AGREE TO THE TERMS IN THEIR ENTIRETY, YOU MUST CEASE USING THE SERVICES AT ONCE, AND YOU MAY NOT DOWNLOAD, COPY, ACCESS OR INSTALL THE APP OR ANY PART THEREOF, AND MAY NOT USE IT IN ANY MANNER WHATSOEVERPLEASE BE AWARE THAT SECTION 16 OF THESE TERMS, BELOW, CONTAINS PROVISIONS GOVERNING HOW CLAIMS THAT YOU AND WE HAVE AGAINST EACH OTHER ARE RESOLVED, INCLUDING, WITHOUT LIMITATION, ANY CLAIMS THAT AROSE OR WERE ASSERTED PRIOR TO THE EFFECTIVE DATE OF THESE TERMS. IN PARTICULAR, IT CONTAINS AN ARBITRATION AGREEMENT WHICH WILL, WITH LIMITED EXCEPTIONS, REQUIRE DISPUTES BETWEEN US TO BE SUBMITTED TO BINDING AND FINAL ARBITRATION. UNLESS YOU OPT OUT OF THE ARBITRATION AGREEMENT: (1) YOU WILL ONLY BE PERMITTED TO PURSUE CLAIMS AND SEEK RELIEF AGAINST US ON AN INDIVIDUAL BASIS, NOT AS A PLAINTIFF OR CLASS MEMBER IN ANY CLASS OR REPRESENTATIVE ACTION OR PROCEEDING; AND (2) YOU ARE WAIVING YOUR RIGHT TO SEEK RELIEF IN A COURT OF LAW AND TO HAVE A JURY TRIAL ON YOUR CLAIMS. ANY DISPUTE OR CLAIM RELATING IN ANY WAY TO YOUR USE OF THE SERVICES WILL BE GOVERNED AND INTERPRETED BY AND UNDER THE LAWS OF THE STATE OF CALIFORNIA, CONSISTENT WITH THE FEDERAL ARBITRATION ACT, WITHOUT GIVING EFFECT TO ANY PRINCIPLES THAT PROVIDE FOR THE APPLICATION OF THE LAW OF ANOTHER JURISDICTION. THE UNITED NATIONS CONVENTION ON CONTRACTS FOR THE INTERNATIONAL SALE OF GOODS DOES NOT APPLY TO THESE TERMS. These Terms are subject to occasional revision. When changes are made, Home365 will make a new copy of these Terms available on the Site and within the App. We will also update the “Last Updated” date at the top of These Terms. If we make any substantial changes, we may notify you by sending you an e-mail to the last e-mail address you provided to us (if any), and/or by prominently posting notice of the changes to the Terms within the App or on our website. We will notify you of any changes to our Terms by posting the new Terms You are responsible for providing us with your most current e-mail address. In the event that the last e-mail address that you have provided us is not valid, or for any reason is not capable of delivering to you the notice described above, our dispatch of the e-mail containing such notice will nonetheless constitute effective notice of the changes described in the notice. Any changes to these Terms will be effective upon the earlier of thirty (30) calendar days following our dispatch of an e-mail notice to you (if applicable) or thirty (30) calendar days following our posting of notice of the changes on our App or website. These changes will be effective immediately for new users of our Services. Continued use of our Services following notice of such changes shall indicate your acknowledgment of such changes and agreement to be bound by the terms and conditions of such changes. PLEASE REGULARLY CHECK OUR TERMS TO VIEW THE THEN-CURRENT TERMS. 1. AGE LIMITATIONTHE SERVICES ARE NOT INTENDED FOR INDIVIDUALS UNDER THE AGE OF 18. IF YOU ARE UNDER 18, YOU MAY NOT USE THE SERVICES. 2. The Services. 2. 1. The Services are designed to allow Property Managers and Tenants to submit requests for repairs and maintenance within their building(s) (each a “Building”) that are covered by the Program (“Service Request”). Service Requests approved by the Project Manager (each an “Approved Service Request”) will be submitted to Service Providers who will respond to such Service Requests (“Service Request Response”). All Service Request Responses must be submitted via the App. Through the App, each User can (i) record a video and/or take photos describing the Service Request Responses, (ii) track the status of submitted Service Requests, including whether Services Requests are completed, and (iv) chat with Property Managers and/or Tenants via text message and voice and video calls. Home365’s responsibilities are limited to providing the Services as summarized above, and more fully described in the balance of these Terms, and providing and managing the Program, as described in the Home365 Service agreements with either Service Provider Agreement or Property Manager or such other written agreement between such party and Home365 governing such participation in the Program (the “Program Agreement”). The applicable Program Agreement, together with these Terms, govern the use of the Services between such party and Home365. In the event of any conflict between the Program Agreement and these Terms, the applicable Program Agreement takes precedence. 2. 2. Property Managers will also have access to the Site, via which they can (i) track Service Requests across all Buildings, (ii) view, approve or reject Service Requests submitted by Tenants, and (iii) view communications between (including text messages, calls, photos and videos) and communicate with, Tenants and Service Providers. 2. 3 By participating as a Property Manager or as a Tenant you represent and warrant that the Service Requests you submit are true and accurate. You are solely responsible for the accuracy and completeness of a Service Request you submit and for all content contained in a Service Request. You acknowledge and agree that neither Home365 nor the Service Provider has any obligation to respond to Service Requests not covered by the Program. 2. 4. By participating as a Service Provider, you represent and warrant: (i) that the information you submit to us or a Property Manager and/or Tenant or otherwise post on the Services and that you will promptly update it promptly to maintain their accuracy and completeness for so long as you maintain an Account with us; (ii) that you will not solicit Property Managers and/or Tenants to pay for your services outside of the Services or otherwise circumvent any fees that are paid or would be payable to Home365, to the extent applicable, and (iii) that you understand that any work performed for Property Managers and/or Tenants to whom you are introduced through the Services is subject to these Terms. You agree that any breach of this Section 2. 2, may result in your immediate removal as a Service Provider from the App by Home365, in our sole discretion, as well as a penalty of $2,000, which you agree is not punitive damages but a reasonable estimation of the liquidated damages caused by such breach. You further agree that (A) unless you obtain the consent of any Property Manager and/or Tenant, you will use the personal information of the Property Manager and/or Tenant provided to you by Home365 in connection with the Services only to communicate with and provide your services to the Property Manager and/or Tenant, and for no other purpose, (B) all communications with Property Managers and/or Tenants will be conducted via the App, and (C) you will not turn off or disable the ability of the App to provide Property Managers and/or Tenant send Home365 with information about your location, which you acknowledge is a critical element of the Services. 2. 5 You, the Service Provider, acknowledges that Home365 publishes business scores and ratings with respect to Service Providers, which may include reviews of you. 2. 6. Consent to Receive Service Provider Calls and Messages. By submitting a Service Request through the App, you, the Property Manager and/or the Tenant agrees that your Service Request, including all submitted data, video and content, will be sent to Certain Service Providers identified by us. You also acknowledge and agree that you may receive telephone calls or text messages from the applicable Service Providers to the telephone number you provide to discuss your fulfillment of their Service Request (“Requester Calls“) and that such calls may be placed using an automatic telephone dialing system. Provider Calls might be connected through Home365’s automated system. 2. 7. Service Provider’s Consent to Receive Calls and Messages. By responding to a Service Request through the App, you agree that your Service Request Response, including all submitted data, video and content, will be sent to the applicable Property Managers and/or Tenants. You also acknowledge and agree that you may receive telephone calls or text messages from the applicable Property Managers and/or Tenants to the telephone number you provide to discuss your fulfillment of their Service Request (“Requester Calls“) and that such calls may be placed using an automatic telephone dialing system. Requestor Calls might be connected through Home365’s automated system. 2. 8. BY SUBMITTING A SERVICE REQUEST, YOU EXPLICITLY CONSENT TO RECEIVE EACH SERVICE PROVIDER CALL THAT YOU RECEIVE IN CONNECTION WITH THE SUBMISSION OF SUCH SERVICE REQUEST. IF YOU DO NOT CONSENT TO RECEIVING SUCH CALLS, DO NOT SUBMIT SERVICE REQUESTS VIA THE APP. 2. 9. We do not charge a fee for the calls and/or videos (“Calls”) made via the App; however, depending on your phone plan, your mobile carrier may charge you for each Call placed or received via the App, which uses the standard phone and carrier functionality of your mobile device. We assume no responsibility for charges incurred by you using the Call functionality of the Services. The Call functionality of the Services may not be available in all areas at all times and we have no liability for any such transmission delay or failure. The Call functionality may not work in the event of product, software, coverage, or other changes made by your wireless carrier or changes you make to your mobile device. You must provide your own wireless device, subscribe to a wireless service on a participating mobile carrier, and be able to receive Calls using that wireless device and your carrier’s service. 2. 10. You acknowledge and agree that Home365 publishes business scores and ratings with respect to Service Providers, which may include your reviews. 2. 11. You acknowledge and agree that the Service Provider or Requestor Calls and any other Calls or communications placed or received via the App may be recorded and stored by us, and you also acknowledge that you, the Property Manager, and all Users will be able to access these recordings through the App, Site, or otherwise. This function is essential to the provision of the Services and may not be disabled. 2. 12. BY PLACING OR ANSWERING A CALL, CHAT OR MESSAGE THROUGH THE APP, YOU EXPLICITLY CONSENT TO HOME365 RECORDING AND STORING SUCH PHONE CALL FOR THE SOLE PURPOSE OF PROVIDING THE SERVICES. IF YOU DO NOT CONSENT TO SUCH RECORDING, DO NOT PLACE OR ANSWER ANY CALL THROUGH THE APP. 2. 13. The video available through the Service Request will be available to the relevant Tenant, Property Manager and Service Provider through the App Site or otherwise. If you wish to delete the video, please contact Home365 at support@home365. co. Please note, however that once a Service Request is accepted, you may not delete the video since it is part of the record and critical to any dispute arising out of the Accepted Service Request. 2. 14. You must provide all equipment and software necessary to connect to the App and/or the Site, including a mobile device that is suitable to connect with and use the App. You are solely responsible for any fees, including Internet connection or mobile fees, that you incur when accessing the App. 3. Disclaimers; Release. 3. 1. Limited Identity Verification. You the Service Provider authorize us, directly or through third parties, to make any inquiries we deem appropriate to help verify or check your identity and of any of your employees or prevent fraud. This may include asking you to provide a form of government identification (e. g. driver’s license or passport or tax ID number), your date of birth, and other information requiring you to take steps to confirm ownership of your email address (as defined below); or attempting to screen your information against third party databases. Nevertheless, you acknowledge that Home365 is not required to attempt to confirm any particular User’s purported identity and does not warrant that our efforts will be successful if we perform any such verification. We do not endorse any persons who use or register for the Services. You are finally responsible for determining the identity and suitability of others whom you may contact or who may contact you by means of the Services. You agree to exercise caution and good judgment in all interactions with other Users. Home365 encourages you to communicate directly with others through the tools available via the Services and to conduct your own investigation of the other Users with whom you interact. You may also wish to consider using a third-party service that provides additional User verification. 3. 2. RELEASE. Home365 makes no warranties regarding Users or the Services, or other content made available through the Services, or the interactions (if any) between the Users within or outside of the Services, and each of the foregoing is provided by us “as is”. Your interactions with other Users are solely between you and such User and Home365 shall not be responsible for any loss or damage incurred as the result of any such interactions except as explicitly set forth in these Terms or your Program Agreement. The foregoing disclaimers shall not limit the more general disclaimers in these Terms. To the extent permitted under applicable laws, you hereby waive, release and forever discharge us (and our officers, employees, agents, successors, and assigns) from every past, present and future dispute, claim, controversy, demand, right, obligation, liability, action and cause of action of every kind and nature (including personal injuries, death, and property damage), that has arisen or arises directly or indirectly out of, or relates directly or indirectly to: (i) any incorrect or inaccurate content posted on the Services, whether caused by us or any user of the Services, or by any of the equipment or programming associated with or utilized in... --- > Home365 Is a Property Management Company that Deals With Residential And Commercial Management To Save You The hassle. Click Here For our referral program - Published: 2020-07-10 - Modified: 2023-02-28 - URL: https://www.home365.co/referralprogram/ Get $250 in cash! Refer Home365 Property Management to your clients Sign up to be our referral partner --- > Home365 Is a Property Management Company that Deals With Both Residential And Commercial Management To Save You The hassle. Click Here refer a friend - Published: 2020-07-10 - Modified: 2023-02-28 - URL: https://www.home365.co/refer-a-friend/ Get $100 in cash! Refer Home365 Property Management to your friends Sign up to be our referral partner --- > Earn $500 💰 In Cash! Refer friends to Home365 - Published: 2020-07-10 - Modified: 2023-02-28 - URL: https://www.home365.co/owner-refer-friends/ Earn $250 in cash! Refer friends to Home365 --- > Home365 Is a Property Management Company that Deals With Both Residential And Commercial Management To Save You The hassle. Click Here read about us - Published: 2020-07-10 - Modified: 2023-04-26 - URL: https://www.home365.co/news/ April 20, 2023 Home365 And Lendai Announce Partnership To Expand Offerings To Foreign Investors Click here Mar 29, 2022 Home365 Secures $26M Series B to Expand AI-Powered Property Management Services Nationwide Learn More Mar 29, 2022 The company said the value of the investment assets it manages has risen to $1. 5 billion Learn more Mar 29, 2022 Home365 secures $26M in Series B funding round. Learn more June 28, 2021 Based in the Bay Area, Home365, a full-service management startup for property owners, boasts offices in 14 major US metros. Learn more Nov 22, 2019 Our Founder and CEO, Daniel Shaked, has won the Top Tech Award for Innovative Startup Tech Learn more July 3, 2019 Home365 launches in Las Vegas Learn more June 24, 2019 Tech-Driven Property Management Disruptor Enters Las Vegas Market Learn more June 23, 2019 Meet the Real Estate Tech Founder: Daniel Shaked from Home365 Learn more June 18, 2019 Property management startup Home365 launches in Las Vegas Learn more Nov 21, 2018 The Next Big Thing in Property Management Innovation: Talking Data and A. I. with Home365 Learn more --- > Home365 Is a Property Management Company that Deals With Both Residential And Commercial Management To Save You The hassle. Click Here to login - Published: 2020-07-10 - Modified: 2023-02-28 - URL: https://www.home365.co/login/ Property Management Reinvented Owner login Resident login --- > Home365 Is a Property Management Company that Deals With Both Residential And Commercial Management To Save You The hassle. Click Here for private policy - Published: 2020-07-10 - Modified: 2024-01-23 - URL: https://www.home365.co/privacy-policy/ Last Updated: September 12, 2018 ClipCall Inc. (“we”, “us” or “Home365” “ClipCall”) respects your privacy and is committed to protecting the Personal Information (defined below) that users (“User” or “you”) share with us in connection with the use of our Home365 Service Program mobile applications (collectively, the “App“), our Home Service Program website located at https://www. home365. co/ (the “Site”) and the services offered via the App and Site (collectively with the App and the Site, the “Services”). This Privacy Policy (the “Policy”) is intended to outline our practices with respect to the Personal Information (as defined below) we may collect from Customers and Service Providers in connection with the Services, the ways we may use such information, and the rights available to you. In addition to this Policy, please also review our Terms of Service (the “Terms of Service”), along with such other of our policies we may notify you of from time to time. The definitions in the applicable Terms of Service apply to this Policy unless stated otherwise. This Policy does not apply to the practices of companies that we do not own or control, or to individuals whom we do not employ or manage, including any of the third parties to whom we may disclose information as set forth in this Policy. Types of Information We Collect“Personal Information” or “PII” means data that allows someone to identify or contact you, including, for example, your name, address, telephone number, e-mail address, as well as any other non-public information about you that is associated with or linked to any of the foregoing data. “Non-Personal Information” means data that is not associated with or linked to your Personal Information; Non-Personal Information does not, by itself, permit the identification of individual persons. We collect Personal Information and Non-Personal Information, as described below Information Collected as Part of the Services The Services are provided to (a) service providers (“Service Providers”) who have agreed to provide services in connection with ClipCall’s Home Service Program (“Program”) and (b) property managers (“Property Managers”) who have signed up for the Program and/or their tenants (each a “Tenant”). The Services are designed to allow Property Managers and Tenants to submit requests for repairs and maintenance within their building(s) (each a “Building”) that are covered by the Program (“Service Request”) Except where specifically indicated herein, the Policy applies to Property Managers, Tenants, and Service Providers, each of whom are included in the definition of “User” and “you” above. In order to use the Services, Users may be required to provide (and we will collect) certain information with respect to registration on the Services, the submission of Service Requests, and Service Requests Responses, including your name phone number, email address, address, your photo, and any information requested in connection with a Service Request, such as a description of the service needed, which are submitted using a video that the Tenant and/or Property Manager filmed on his/her device within the App interface, or Service Request Response. For Service Providers, we may also collect details regarding your business, including, but not limited to, a business description, your service category, website, whether you have certain certifications, licenses, and insurance, and your business location. The Services enable communication between Property Managers, Tenants, and Service Providers relating to a particular Service Request via the App and we will collect and store all such communications, including calls and messages. Information You Provide To UsIf you, Service Provider, tell us where you are (e. g. , by allowing your mobile device to send us your location), we may store and use that information only to provide you with the Services. Location services are an essential part of the Services – we use them to help provide estimated Service Provider arrival times to the Tenant and/or Property Manager, but we do not store this information following confirmation of arrival times (which are used as a metric in the Service Provider quality score). As set forth in the applicable Terms of Service, we require Service Providers to leave location services enabled in the App when using our Services. If you provide us Feedback or contact us via e-mail, we will collect your name and e-mail address, as well as any other content included in the e-mail, in order to send you a reply. When you post content through the App (such as information (such as videos, images and other information) included in Service Requests, Service Request Responses, or any calls or messages via the App) we will collect and store the information in that posting and the applicable Service Provider, Tenant and Property Manager will be able to see such content. When you place or receive calls or send messages through the App, those calls are recorded and stored on our servers. For Service Providers and Property Managers, we will collect all information necessary to complete transactions as applicable to your role (i. e. as Property Manager or Service Provider) as set forth in the applicable Project Agreement. This information may include your name, credit card information, and billing information (collectively, “Payment Information”). Some or all of the Payment Information may be shared with third parties who will help process payments for Projects, as further detailed in the “With whom we Share Information, and for what Purposes” section below. Payment Information is encrypted using industry standard technology. In addition, for all Service Providers, we collect information required for us to fulfil our obligations with respect to reporting taxable income (i. e. , 1099 forms, which is included in the definition of Payment Information). We also collect other types of PII that you provide to us voluntarily. We may also collect PII at other points in the Services that state that PII is being collected. Information we Collect from OthersIf you are a Tenant, we will collect certain information about you from Property Managers, such as your name, email address, phone number, and address and will add this to your Account information. We use this information to verify that your Building is within the scope of the Program as well as to otherwise provide the Services. Information Collected via TechnologyInformation Collected by Our Servers. To make the Services more useful to you, our servers (which may be hosted by a third-party service provider) collect information from you, including your browser type, operating system, Internet Protocol (“IP”) address (a number that is automatically assigned to your computer when you use the Internet, which may vary from session to session), domain name, and/or a date/time stamp for your visit. Log Files. As is true of most websites, we gather certain information automatically and store it in log files. This information includes IP addresses, browser type, Internet service provider (“ISP”), referring/exit pages, operating system, date/time stamp, and clickstream data. We use this information to analyze trends, administer the Services, track Users’ movements around the Site, gather demographic information about our user base as a whole, and better tailor our Services to our Users’ needs. For example, some of the information may be collected so that when you visit the Services again, you will be recognized, and the information could then be used to serve information appropriate to your interests. Except as noted in this Policy, we do not link this automatically-collected data to PII. Cookies. Like many online services, we use cookies to collect information. “Cookies” are small pieces of information that a website sends to your computer’s hard drive while you are viewing the website. We may use both session Cookies (which expire once you close your web browser) and persistent Cookies (which stay on your computer until you delete them) to provide you with a more personal and interactive experience on our Services. This type of information is collected to make the Services more useful to you and to tailor the experience with us to meet your special interests and needs. Mobile Services. We may also collect Non-Personal Information from your mobile device if you have downloaded our App. This information is generally used to help us deliver the most relevant information to you. Examples of information that may be collected and used include your location, how you use the App, and the type of device you use. In addition, if our App crashes, we will receive information about your mobile device model software version and device carrier, which allows us to identify and fix bugs and otherwise improve the performance of our App. This information is sent to us as aggregated information and is not traceable to any individual and cannot be used to identify an individual. Screenshots of how the App is being actually used. In order to improve our App and we record and store screenshots of the actual usage of the App. Pixel Tags. We use “Pixel Tags” (also referred to as clear Gifs, Web beacons, or Web bugs), which are tiny graphic images with a unique identifier, similar in function to Cookies, that are used to track online movements of Web users. In contrast to Cookies, which are stored on a user’s computer hard drive, Pixel Tags are embedded invisibly in Web pages. Pixel Tags also allow us to send email messages in a format Users can read, and they tell us whether emails have been opened to ensure that we are sending only messages that are of interest to our Users. We may use this information to reduce or eliminate messages sent to a User. We do not tie the information gathered by Pixel Tags to our Users’ PII. How We Respond to Do Not Track Signals. We do not currently respond to “do not track” signals or other mechanisms that might enable consumers to opt out of tracking on our Services. Analytics. Other companies may set their own Cookies or similar tools when you visit our Site or use the Services. This includes third party analytics services such as Google Analytics (“Analytics Services”) that we engage to help analyze how users use the Services. We may receive reports based on these parties’ use of these tools on an individual or aggregate basis. We use the information we get from Analytics Services only to improve our Site and Services. The information generated by the Cookies or other technologies about your use of our Site and Services (the “Analytics Information”) is transmitted to the Analytics Services, which use Analytics Information to compile reports on user activity. The Analytics Services may also transfer information to third parties where required to do so by law, or where such third parties process Analytics Information on their behalf. Each Analytics Services’ ability to use and share Analytics Information is restricted by such Analytics Services’ Terms of Service and Policy. By using our Site and Services, you consent to the processing of data about you by Analytics Services in the manner and for the purposes set out above. For a full list of Analytics Services, please contact us at support@home365. co. Inviting Others to Join. You can invite others to join the Services by sending a download link generated via the Services via text, email, social media, etc. to such other individuals. How we use the Information we Collect: In general, PII is used either to respond to requests you make or to help us serve you better. We use your PII in the following ways: To provide you with the Services and related functionality;To improve the quality of the Services;To respond to your inquiries, customer service, and support requests, feedback or questions, and update you with information pertaining to your request;To investigate and respond to claims that any content available through the Services violates the rights of third parties;To facilitate any payments due or owed through the Program;To facilitate the submission of and respond to Service Requests;To enhance and personalize your experience and customize the content we display through the Services, including advertisements served by third parties;To resolve disputes and enforce our policies, including investigation of potential violations thereof;To perform research, technical diagnostics, and analytics or for statistical purposes;To provide you with the most relevant additional services and offers; andTo detect, prevent, or otherwise address fraud, security or technical issues. We may also use your Personal Information to create Non-Personal Information records by excluding information that makes the information personally identifiable to you. We use Non-Personal Information we collect to analyze trends, administer and improve the Services, track Users’ movements in the App, gather demographic information about our user base as a whole, and better tailor our Services to our Users’ needs. In addition, we reserve the right to use Non-Personal Information for any legitimate business purpose. Feedback. If you provide Feedback to us, we may use and disclose such Feedback in accordance with the applicable Terms of Service, provided we do not associate such feedback with your Personal Information. We may publish Feedback from time to time, provided that we will obtain your consent prior to posting any Feedback that is associated with your Personal Information. We will handle any Personal Information incorporated into Feedback in accordance with this Policy, provided that we may contact you regarding such Feedback. With whom we Share the Information, and for what PurposesService Requests. We share the information included in Service Requests and Service Request Responses, including the videos and all other User Generated Content therein, with the applicable Service Providers, Tenants, and Property Managers, to allow the Service Providers to connect with Tenants and Property Managers via the App and otherwise use the App to review and respond to Service Requests. In connection with individual Service Requests, we will share information between Tenants, Property Managers, and Services Providers relating to such Service Requests as needed to facilitate the provision of the Program, the performance of the Service Request and the provision of the Services. Service Request Communications. The relevant Service Providers, Property Managers, Tenants and Home365 may access calls (including Calls), chats and videos made via the App in connection with the applicable Service Request and, in Home365’s case, to provide and improve the Services. Service Request (and Service Request Response) videos or photos will be shared with the applicable Tenants, Property Managers, and Service Providers. Third Party Services. We might share your information with our business partners for performing services for us, such as payment processing, customer service, technical support, tracking, marketing assistance, serving ads and ad tracking, and analytics. Third Party Services we use include:Security of Credit Card, Debit Card and Bank Account Information. For online payments and/or Automated Clearing House (ACH) payouts, we use the payment services of Stripe (https://stripe. com). We do not process, record or maintain your credit card or bank account information. For more information on how payments are handled, or to understand the data security and privacy afforded such information, please refer to https://stripe. com/us/privacy. Other Disclosures. We may share your information, including PII, if we are required by law enforcement or other governmental agency; in response to a subpoena, warrant or an investigative demand, a court order, or with respect to any... --- --- ## Posts > Daniel Shaked on why traditional property managers under-serve investors—and how Home365’s tech-first model delivers better, predictable returns. - Published: 2025-07-09 - Modified: 2025-07-09 - URL: https://www.home365.co/general-knowledge/property-management/property-manager-23-hour-500k/ - Categories: Property management - Tags: atlanta property management, atlanta real estate investing, single family rentals atlanta Let’s break down how you can determine the optimal rental rate in Atlanta and why Home365’s AI-powered tools can give you a competitive edge. That’s what you do when you hire a traditional Property Manager as a real estate investor. And they’ll spend maybe 2-3 hours a month on your property - or they’re out of business. This is a wake-up call to my fellow property managers. For a long while, I have witnessed the real estate landscape shift dramatically, and property management is at a breaking point. For centuries, real estate has been the world’s largest store of value, holding close to $500 trillion in global wealth, but in today’s market, the numbers don’t add up for investors, and the traditional property management approach is partially a reason why. Let’s break it down. The Real Estate Yield Crisis Residential real estate’s appeal as a store of value is under siege. Single-family rental (SFR) net operating income (NOI) averages 4. 8–5. 6% annually, factoring in operating expenses like vacancies (5–8%), delinquencies (2–4%), and maintenance costs. Depending on leverage, the percentage of NOI translated to cash flow might even be negative. Add to that an average U. S. home price appreciation of 4. 27% annually, and the real IRR, adjusted for CPI-based inflation (2–3%), which understates true inflation better captured by M2 money supply growth, hovers at 3–5% for unleveraged SFRs—hardly compelling. Compare that to the S&P 500’s 10. 7% average annual return or stock ETFs like VOO (10. 5%). Even gold, with 7. 8% annualized returns over the past decade, often outperforms. Bitcoin, a rising store of value, has posted staggering 60%+ annualized returns for early adopters, though its volatility is not for everyone. Real estate investors are fighting an uphill battle for competitive yields. Then there’s the non-passive nightmare of real estate investing. Vacancies, tenant delinquencies, litigation, squatters, and skyrocketing regulations drain time and profits. But the real culprit? The CEO you hired to run your rental business, aka property manager, is not acting as your money manager. Would you hire a CEO that is not wired to bring financial value to its shareholders? Most property managers are mom-and-pop shops, managing 300–400 units at best, fragmented and unscalable. Most are not wired to maximize your wealth. They fail to understand that investors don’t hire them to “manage properties” - they hire them to manage their retirement plans, their kids’ college funds. Yet, these managers don’t speak “returns” or “profits. ” They’re stuck in the past, resisting technology like it’s 1995. They charge 8% of annual rent - roughly 1% of your property’s value, which boils down to $80–100/month for a $500K asset. For that amount, a reasonably hardworking property manager can only allocate a low-paid employee at an average of $23/hour for 3 hours of work (usually with no health insurance), barely enough to cover manual tasks like rent collection through checks or facilitating maintenance calls. This is why your manager is focused on “placing tenants” and “unclogging toilets”—but this is not optimizing your returns. This reality takes a massive toll on investors’ returns and poses a massive risk to entrusting hard-earned money to a setup like that. Worse, some property managers, those not advanced or forward-thinking, have not yet realized that they are, in fact, “the walking dead,” and they don’t even know it. Some mock Proptech innovators as “tech bros,” predicting and celebrating their failure. Sound familiar? Yellow cab drivers laughed at Uber. Blockbuster ignored Netflix. Kodak and BlackBerry dismissed the iPhone. Yellow Pages never pivoted online. Reinventing Property Management - A different business model where property managers are asset managers with management fees derived from the value of the asset they manage (responsibility) and have an upside from the profits (aka cash flow and appreciation). This will align interests with investors. - An obsessive automation mindset is non-negotiable: move-ins, showings, and maintenance requests, all streamlined. Tech-savvy managers must leverage data to spot trends, predict issues, and underwrite tenants better. Trust accounts? Outdated, costly, and risky—modern P2P payment solutions are faster and safer. - Traditional "management" - facilitating issues around T&Ts (tenants and toilets) - shouldn’t cost 8% with a tech-first approach. At 30% of that price, true technology can deliver superior facilitation, 10x scale in units managed, better satisfaction, and boosted investor returns. Investors don’t want toilet repairs; they demand passive, predictable, competitive returns. Property managers must rebrand as wealth managers specializing in real estate, armed with financial acumen and tech prowess. Investors will pay a premium for those who prioritize their money over a broken pipe. The era of entrusting your wealth to the lowest-paid employee is over. Property managers must rethink their role or become the next Yellow Pages. At Home365, we’re building the future of property management with technology and a human touch that empowers investors, not burdens them. Ready for Passive, Predictable Returns? Discover how Home365’s tech-driven approach redefines property management. --- > Find the best property management companies Atlanta has to offer. Compare services, pricing, and tech to grow your rental income stress-free. - Published: 2025-04-02 - Modified: 2025-04-14 - URL: https://www.home365.co/growth-markets/atlanta/property-management-companies-atlanta/ - Categories: Atlanta, Real estate investing - Tags: atlanta property management, atlanta real estate investing, single family rentals atlanta Let’s break down how you can determine the optimal rental rate in Atlanta and why Home365’s AI-powered tools can give you a competitive edge. Looking for top property management companies Atlanta investors can rely on? Choosing the right partner can be a game changer for your rental property’s performance. With so many property management companies in Atlanta to choose from, we've done the hard work for you—analyzing their experience, services, pricing transparency, tech adoption, and customer satisfaction. Here’s our straightforward breakdown to help you find the right fit for your investment goals. Key TakeawaysDiverse Options: Atlanta offers varied property management companies, each excelling in specific areas like technology or personalized service. Technology Matters: Some firms leverage AI to enhance service efficiency and proactive management. Experience Counts: Companies with extensive market experience provide stability and deep industry knowledge. Clear Pricing: Transparent pricing structures help property owners manage their budgets effectively. Client-First Approach: High client satisfaction rates across these companies highlight their dedication to exceptional customer service. 1. Home365Home365 is revolutionizing property management by making real estate investing passive through its cutting-edge technology. By developing its own proprietary platform, Home365 leverages AI to predict maintenance issues, offer guaranteed rent, and provide a seamless, hassle-free experience for property owners—while giving them real-time visibility into everything happening with their property. Years in Business: 9+Services Offered: Comprehensive property management, tenant screening, guaranteed rent coverage, eviction protection, maintenance management via AIPricing Structure: Transparent percentage-based pricing taken from monthly rent, with guaranteed rent and repairs coverage plansTechnology Integration: Advanced AI-driven financial and maintenance management, mobile app for tenants and online owner dashboard for real-time property monitoring and communicationClient Satisfaction: Highly rated for ease-of-use, communication, and reliability (4. 7/5 average on Google)USP: Making real estate investing truly passive for everyone, leveraging AI and innovative technology to manage your property end-to-end without hassleLearn more at https://www. home365. co/locations/atlanta/ 2. Excalibur HomesWith over three decades of industry experience, Excalibur Homes stands out due to its unique performance-based pricing model. Property owners appreciate their commitment to aligning their interests with client profitability, providing peace of mind through comprehensive management services. Years in Business: 35+Services Offered: Leasing, tenant screening, property maintenance, eviction servicesPricing Structure: Performance-based fee structure, no upfront feesTechnology Integration: Robust online platform for owner oversightClient Satisfaction: High ratings for reliability and value (4. 3/5 on Google)USP: Aligned Interests" pricing structure—paid only if the owner profitsLearn more at https://www. excaliburhomes. com/Read more: How Much Should I Rent My Atlanta Property For in 2025? 3. Mynd Property ManagementMynd combines innovative technology with solid customer service, offering online portals and mobile apps that simplify management tasks. They stand out with rental income guarantees and eviction protection plans, offering investors valuable reassurance. Years in Business: 7+Services Offered: Residential management, tenant screening, eviction protection, maintenance coordinationPricing Structure: Flat monthly fee with optional guaranteesTechnology Integration: Online portal for owners/tenants, mobile appClient Satisfaction: Positive reviews highlighting customer service responsiveness (4. 4/5 on Google)USP: Rental income guarantees and eviction protectionLearn more at https://www. mynd. co/locations/georgia/atlanta-area-property-management 4. EvernestEvernest provides highly competitive services, including in-house maintenance and eviction handling. Known for proactive communication and transparent fee structures, they eliminate risks with their waived leasing fees if a tenant departs within the first year. Years in Business: 15+Services Offered: Property management, leasing, in-house maintenance, eviction handlingPricing Structure: Competitive with transparent leasing fees, no cancellation feesTechnology Integration: User-friendly online management platformClient Satisfaction: Solid reputation for proactive communication (4. 5/5 on Google)USP: Waived leasing fees if tenants leave within first yearLearn more at https://www. atlantapropertymanagement. com/5. Aramis RealtyAramis Realty excels in delivering personalized, high-touch services with dedicated property managers overseeing all aspects, including renovations and sales. Their approach ensures individualized attention and detailed financial reporting. Years in Business: 8+Services Offered: Residential management, property sales, maintenance, renovation oversightPricing Structure: Competitive monthly management feesTechnology Integration: Online system for maintenance requests and financial reportingClient Satisfaction: Praised for personalized customer service (4. 5/5 on Google)USP: High-touch service with dedicated property managersLearn more at https://aramisrealty. com/6. Compass Property ManagementCompass Property Management is praised for its local market expertise, straightforward fees, and exceptional communication. Their strong community presence and personalized service packages make them a reliable partner for investors. Years in Business: 15+Services Offered: Tenant screening, maintenance, rent collection, eviction servicesPricing Structure: Straightforward monthly fees, clearly outlined service packagesTechnology Integration: Online portals for property owners and tenantsClient Satisfaction: Good communication noted frequently in reviews (4. 2/5 on Google)USP: Local market expertise and personalized attentionLearn more at https://www. compasspropertymanager. com/Top Tips for Atlanta Landlords to Maximize ProfitRead more: How Much Should I Rent My Atlanta Property For in 2025? 7. Vineyard Property ManagementSpecializing in the northern suburbs, Vineyard Property Management offers comprehensive tenant placement and financial tracking services. Their clear pricing and reliable digital reporting tools help investors maintain control and maximize profitability. Years in Business: 10+Services Offered: Tenant placement, rent collection, maintenance management, detailed financial reportingPricing Structure: Clear monthly pricing without hidden feesTechnology Integration: Digital reporting and tracking systemClient Satisfaction: Positive feedback emphasizing reliability (4. 3/5 on Google)USP: Strong local presence in northern Atlanta suburbsLearn more at https://www. vineyardpropertymanagement. com/8. Specialized Property ManagementWith extensive experience inside Atlanta’s I-285 loop, Specialized Property Management provides varied service tiers and 24/7 access to management software. Investors value their long-standing reputation for reliability, efficiency, and thorough tenant screening. Years in Business: 35+Services Offered: Tenant screening, rent collection, maintenance, eviction coordinationPricing Structure: Multiple service tiers ($99–$189/month), clear pricingTechnology Integration: Online management software accessible 24/7Client Satisfaction: Reliable, efficient service frequently mentioned (4. 4/5 on Google)USP: Extensive experience managing properties within Atlanta’s I-285 loopLearn more at https://specializedpropertymanagementatlanta. com/9. One Source AffiliatesOne Source Affiliates offers strong tenant and rent guarantees, bolstered by transparent pricing and 24/7 maintenance response. Their innovative digital solutions and commitment to transparency enhance trust and customer satisfaction. Years in Business: 7+Services Offered: Comprehensive property management, tenant guarantees, 24/7 maintenancePricing Structure: Transparent pricing structure with detailed breakdownTechnology Integration: Digital solutions for property monitoring and financial trackingClient Satisfaction: Strong customer feedback, especially regarding transparency (4. 2/5 on Google)USP: Guarantees for rent and tenant placementLearn more at https://www. onesourceatlanta. com/10. PMI GeorgiaPMI Georgia is known for its robust financial transparency and detailed reporting, providing property owners with customizable service tiers tailored to their needs. Their advanced technology platforms ensure efficient property management, making them a reliable choice for investors. Years in Business: 10+Services Offered: Full-service management, financial reporting, maintenance managementPricing Structure: Clearly defined pricing plans with customizable service tiersTechnology Integration: Advanced online portals and reporting toolsClient Satisfaction: Consistently positive feedback on ease of management (4. 6/5 on Google)USP: Strong emphasis on financial transparency and reportingLearn more at https://www. pmigeorgia. com/Top 5 Property Management Companies in Atlanta for 2025 Based on client satisfaction, tech use, and pricing, here are the best: Home365 – Best for guaranteed rent and passive investing Excalibur Homes – Best for performance-based pricing Mynd – Best tech platform with eviction protection Evernest – Best communication & transparency PMI Georgia – Best reporting and financial tools FAQs About Property Management in Atlanta What’s the best property management company in Atlanta for hands-off investors? Home365 stands out for its guaranteed rent, AI-driven maintenance, and fully passive experience. Choosing from the many property management companies Atlanta offers should come down to your investment priorities. Whether you're focused on guaranteed rent, hands-off maintenance, or long-term growth, the right partner makes all the difference. Ready to experience truly passive real estate investing? Contact Home365’s experts today and get your quote in no time. --- > Maximize profits from your Las Vegas rental property with expert tips on real estate investing in Las Vegas, tenant selection, maintenance, and market trends. - Published: 2024-12-26 - Modified: 2024-12-26 - URL: https://www.home365.co/growth-markets/las-vegas/real-estate-investing-in-las-vegas-how-to-maximize-profits-from-your-rental-while-living-far-away/ - Categories: Las Vegas, Real estate investing Let’s break down how you can determine the optimal rental rate in Atlanta and why Home365’s AI-powered tools can give you a competitive edge. https://youtu. be/aSCjpMHbgJgOwning a rental property in Las Vegas is a golden opportunity to tap into one of the most dynamic rental markets in the U. S. Real estate investing in Las Vegas offers unique advantages, but for out-of-state investors, managing a property remotely can seem challenging. With the right strategy and support, you can maximize your rental income while minimizing stress. The truth is, with the right strategy and support, you can maximize your rental income while reducing stress—even when you live far away. Key TakeawaysLas Vegas offers a high-demand rental market with opportunities for both short-term and long-term tenants. Partnering with a local property management company ensures compliance with Nevada's tenant laws and smooth operations. Strategic tenant selection and regular maintenance are essential for maximizing rental profits. Energy-efficient upgrades and long-term lease incentives can attract quality tenants and reduce turnover. Staying informed about Las Vegas rental market trends helps set competitive pricing and maintain The Challenges of Managing a Rental Property from Afar When you’re not local to your Las Vegas rental property, even small issues can escalate quickly. Communication with tenants may be delayed, maintenance can fall through the cracks, and staying on top of local regulations might feel overwhelming. Nevada has specific tenant laws, such as limits on security deposits and requirements for repairs, that must be adhered to. Failing to comply with these laws can result in fines or legal disputes. Understanding these challenges and how to address them is crucial for success. Read more: Eviction Laws in Las Vegas, Nevada The Value of Choosing the Right Property Management Partner Partnering with the right property management company can make all the difference in ensuring your property is profitable and hassle-free. A good property management partner acts as your eyes and ears on the ground while handling every aspect of property operations. Here’s how to choose the right one:Look for Local ExpertiseChoose a property management company with in-depth knowledge of the Las Vegas market. Local expertise ensures they understand rental trends, tenant preferences, and area-specific regulations, helping you stay competitive and compliant. For example, properties near Summerlin or Henderson often attract long-term family tenants, whereas Downtown Las Vegas and areas near the Strip may appeal more to short-term renters. Read more: Top 5 Places to Invest in Las Vegas in 2025 for Single-Family Homes Source: zillow. com Strategic Tenant Selection Finding and retaining the right tenants is crucial for maintaining a steady income and minimizing issues. A strategic approach to tenant selection ensures you’re attracting responsible renters who will respect your property. Here’s how to make it happen:Prioritize TransparencyEnsure the company provides clear reporting on expenses, income, and tenant-related updates. Transparency builds trust and gives you confidence that your property is in good hands. Evaluate Their Track RecordAsk for references or case studies demonstrating their success in managing similar properties. A proven track record indicates reliability and the ability to maximize returns. Conduct Comprehensive Background ChecksScreen potential tenants thoroughly by verifying employment, income, and rental history. In Las Vegas, tenants often work in industries like hospitality, tourism, or tech, so verifying income stability is key. Look for individuals with a track record of on-time payments and respectful behavior toward previous landlords. Communicate Expectations ClearlySet clear guidelines about property care, rent due dates, and communication channels. A well-informed tenant is less likely to violate lease terms. Leverage Professional Screening ToolsUtilize tenant screening software or services to automate credit checks, criminal background checks, and eviction history reviews. This helps ensure you’re making data-driven decisions. Regular Maintenance is Non-Negotiable Preventative maintenance is key to protecting your property’s value and ensuring long-term profitability. Regular inspections can identify small issues before they turn into costly repairs. For instance, a minor leak or an aging HVAC system may seem insignificant now but can lead to significant expenses if ignored. Las Vegas properties, especially in older neighborhoods, may require regular checks for air conditioning systems due to the desert climate. Energy Efficiency UpgradesEnergy efficiency can significantly reduce operational costs while appealing to environmentally conscious tenants. Here are some actionable steps to improve energy efficiency:Insulate and Seal DraftsImproper insulation and drafty windows can lead to high energy bills and uncomfortable living conditions. Sealing drafts and adding insulation in key areas, such as attics and basements, can significantly improve energy efficiency. Properties in Las Vegas often benefit from reflective window films to block heat during scorching summers. Install Smart ThermostatsSmart thermostats give tenants better control over heating and cooling while saving energy. Devices like these allow tenants to program temperature settings based on their schedules, lowering utility bills and reducing waste. These upgrades can be a selling point when attracting responsible tenants. Offer Incentives for Long-Term Leases Encouraging tenants to sign longer leases reduces turnover and vacancy costs. Here’s how you can structure effective incentives:Flexible Lease TermsProviding flexible lease terms can attract a wider range of tenants. For example, offering tenants the choice between a two-year lease with stable rent and a one-year lease at a slightly higher rate can appeal to those seeking long-term stability. Upgrade Common AmenitiesTenants are more likely to stay longer if their living experience is enhanced. Small but impactful upgrades, such as adding in-unit laundry facilities or providing secure package delivery solutions, can improve tenant satisfaction and reduce turnover. Highlight these benefits during lease negotiations to encourage renewals. Work with Reliable Vendors for Repairs Collaborating with skilled and dependable vendors ensures that repairs are handled efficiently and cost-effectively. Building a strong network of vendors can help maintain your property’s value and reduce downtime. Here’s how to do it:Vet Vendors ThoroughlyResearch and select vendors with good reviews, proven experience, and fair pricing. Recommendations from other property owners or management companies can also be valuable. In Las Vegas, finding vendors experienced in dealing with desert-specific wear and tear, such as stucco repairs or xeriscaping, is essential. Negotiate ContractsEstablish long-term contracts with vendors to lock in better pricing and ensure priority service. Vendors may offer discounts or additional benefits for repeat business. Schedule Preventative MaintenanceProactive maintenance reduces the likelihood of emergency repairs. Work with your vendors to create a schedule for regular checks of plumbing, electrical systems, and HVAC units. Understanding the Las Vegas Rental Market Staying informed about the Las Vegas rental market is essential for pricing your property competitively and maintaining high occupancy rates. Here’s how to leverage market insights:Analyze Market TrendsStay updated on local demand, rental price fluctuations, and neighborhood developments. For instance, areas like Southern Highlands or Inspirada may attract families due to their top-rated schools and community amenities, while North Las Vegas might offer better opportunities for workforce housing. Cater to Your Target AudienceUnderstand the preferences of your ideal tenant. For instance, vacation renters may prioritize furnished units near the Strip, while long-term tenants might prefer family-friendly neighborhoods with good schools. Adjust Pricing StrategicallyReview your rental rates regularly to ensure they align with market conditions. Competitive pricing can attract quality tenants and minimize vacancy periods. Why Staying Hands-Off Can Actually Maximize Profits It might seem counterintuitive, but stepping back and letting professionals handle your property can lead to better results. Property management companies are equipped to manage tenant relationships, enforce lease terms, and handle accounting efficiently. This reduces costly mistakes and ensures that your property is always running smoothly. When you let the experts take care of day-to-day operations, you can focus on enjoying the income from your investment. Conclusion: Turn Your Las Vegas Property into a Worry-Free Income SourceManaging a rental property from a distance doesn’t have to be stressful. By hiring the right property management company, staying on top of preventative maintenance, and leveraging solutions like our Profit Protect Plan, you can maximize your rental profits and enjoy peace of mind. Whether you’re a seasoned investor or new to the Las Vegas market, these strategies will help you turn your property into a reliable and profitable income source. --- > Discover top Las Vegas neighborhoods for investing in 2025 single-family homes. Explore stable growth, rental demand, and profitable opportunities. - Published: 2024-12-12 - Modified: 2024-12-12 - URL: https://www.home365.co/growth-markets/las-vegas/top-5-places-to-invest-in-las-vegas-in-2025-for-single-family-homes/ - Categories: Las Vegas, Real estate investing Let’s break down how you can determine the optimal rental rate in Atlanta and why Home365’s AI-powered tools can give you a competitive edge. https://youtu. be/2mzz4hUNaL8 Las Vegas continues to transform beyond the glittering lights of The Strip. Economic diversification, rapid growth in tech and entertainment sectors, and ongoing infrastructure enhancements are all converging to create an excellent environment for real estate investment. With stable inventory levels, a balanced market, and consistent sales trends, 2025 is shaping up to be a prime year for purchasing single-family homes in strategic Las Vegas neighborhoods. According to recent market data, the single-family residential (SFR) inventory in Las Vegas has hovered around 6,100 units in late 2024, with roughly 1,800 units sold monthly. This equates to around 3. 4 months of inventory—an indicator of a balanced market where demand and supply are well-aligned. For investors, this stability reduces volatility and fosters predictable growth. Moreover, the region is experiencing steady appreciation in property values, with median home prices approaching record highs and condos/townhomes breaking into new price territories. Beyond just the numbers, the city’s future looks exceptionally bright. From space technology ventures and major film studio expansions to new pro sports franchises and improved transportation via the Brightline West high-speed rail, Las Vegas is evolving into a cultural, economic, and entertainment hub. Institutional investors have taken note—contributing to stable rental demand and robust housing values. For individual investors, these conditions mean ample opportunities for long-term returns. Source: redfin. com Here are the top five places to invest in single-family homes in Las Vegas in 2025 1. Anthem (Henderson) Why Invest? Anthem, nestled in Henderson, consistently ranks among the safest and most family-friendly areas in Southern Nevada. High-quality schools, well-maintained parks, and proximity to major employment centers and the Strip make it a sought-after neighborhood for long-term renters. Given the city’s stable 3. 4-month inventory and moderate price appreciation, Anthem’s single-family homes promise reliable returns with less volatility than markets prone to extreme bidding wars. Investment Highlights: Balanced Market: Anthem’s stable supply and demand supports steady rental income and appreciation. Quality of Life: Top-rated schools, parks, and trails attract discerning families. Strong Value Growth: Historical appreciation trends position Anthem as a safe bet for long-term investors. Read more: Emergencies in Your Las Vegas Rental: Essential Tips for Property Owners 2. Centennial Hills Why Invest? Centennial Hills in northwest Las Vegas offers affordability and diverse property options. With Red Rock Canyon and the Tule Springs Fossil Beds nearby, it appeals to families, retirees, and young professionals seeking a suburban lifestyle close to nature. The area’s consistent sales volume, coupled with a balanced month-over-month inventory, ensures predictable occupancy rates and stable rental growth. Investment Highlights: Affordability & Stability: Lower entry costs with steady inventory mitigate risk. Strong Tenant Demand: Families value top-notch schools like Arbor View High School. Outdoor Amenities: Parks, hiking, and outdoor spaces encourage long-term residency. 3. Green Valley South (Henderson) Why Invest? Green Valley South remains a standout for investors targeting stable, well-maintained neighborhoods. Its manicured landscaping, strong HOA oversight, and robust community events create a neighborly atmosphere that encourages renters to stay longer. With the overall Las Vegas market showing moderate yet consistent appreciation (condos and townhomes recently hit record prices), single-family homes here remain competitively priced and poised for value growth. Investment Highlights: Community Appeal: Annual events and HOA initiatives enhance neighborhood desirability. Travel Convenience: Proximity to Harry Reid International Airport and I-215 caters to professionals. Stable Appreciation: Well-established community ensures reliable, incremental property value increases. 4. Southern Highlands Why Invest? Southern Highlands stands out for its scenic environment, tree-lined streets, and abundant recreational amenities. The area’s stable conditions mirror the broader Las Vegas market trends: balanced inventory, modest price increases, and steady rental demand. As Las Vegas continues to diversify into entertainment (Warner Bros. expansion, Hollywood 2. 0 initiatives), tourism, and even space technology sectors, Southern Highlands is positioned as a high-quality residential alternative within easy reach of these new economic centers. Investment Highlights: Strong Market Fundamentals: Predictable rent appreciation and stable occupancy. Lifestyle Perks: Golf courses, parks, and regular community events. Close to Growth Hubs: Easy freeway access to emerging entertainment and tech hubs. Read more: Eviction Laws in Las Vegas, Nevada 5. Summerlin Why Invest? Summerlin’s reputation as a premier master-planned community persists into 2025 and beyond. With world-class amenities, extensive trails, and proximity to Red Rock Canyon, it appeals to a broad demographic—families, young professionals, retirees—all seeking upscale suburban living. As institutional investors remain interested in Las Vegas rentals and as major film studios eye the region (Sony’s $1. 8B project, Mark Wahlberg’s involvement, Warner Bros. expansions), Summerlin will likely benefit from an influx of tenants seeking quality neighborhoods, ensuring long-term, stable returns. Investment Highlights: Proximity to Growth Drivers: Future NBA and MLB teams, plus new entertainment complexes, bolster demand. Robust Tenant Pool: Affluent renters look for top-tier amenities and good schools. Consistent Appreciation: Supported by balanced inventory and investor confidence. Source: zillow. com Market Stability & Future Outlook The key differentiator in 2025’s Las Vegas housing landscape is stability. With about 3. 4 months of inventory, prices nearing record highs, and an influx of institutional investors ensuring steady rental demand, the conditions are ideal for strategic acquisitions. Condo and townhome prices have set new records, and while single-family homes haven’t quite hit their previous peak, they’re trending upward, suggesting room for growth. Las Vegas also anticipates transformative projects on the horizon—from spaceport plans to Hollywood 2. 0 expansions in Summerlin and major league sports additions—further diversifying its economic base. As infrastructure and cultural amenities grow, so does the attractiveness of well-located single-family homes. In Conclusion Las Vegas, with its balanced inventory and robust tenant interest, is primed for sustainable real estate investment gains. Anthem, Centennial Hills, Green Valley South, Southern Highlands, and Summerlin each offer unique advantages—be it top-rated schools, outdoor recreation, strong community bonds, or immediate proximity to emerging entertainment sectors. Partnering with knowledgeable local experts, such as Rice Real Estate & Property Management, can help ensure you capitalize on Las Vegas’ evolving market, setting the stage for long-term stability and returns in 2025 and beyond. If you’re ready to take the next step or want to maximize the value of your existing investment, contact Home365 today. Property management that protects your profit and makes property ownership stress-free is just a call away—let us help you achieve your real estate goals. --- > Let’s break down how you can determine the optimal rental rate in Atlanta and why Home365’s AI-powered tools can give you a competitive edge. - Published: 2024-12-01 - Modified: 2024-12-24 - URL: https://www.home365.co/growth-markets/atlanta/should-you-invest-in-property-in-atlanta/ - Categories: Atlanta Let’s break down how you can determine the optimal rental rate in Atlanta and why Home365’s AI-powered tools can give you a competitive edge. https://youtu. be/lZNgnn-r4VQ Real estate investors have long considered Atlanta a top destination for building wealth, and it’s easy to see why. With a robust economy, rising population, and infrastructure development driving up property values, Atlanta presents significant opportunities for savvy investors. Whether you're looking for steady rental income, long-term property appreciation, or tax advantages, Atlanta offers something for everyone. But like any market, there are considerations to weigh before diving in. This guide breaks down the essential factors to help you make an informed decision. Why Atlanta is an Ideal Market for Real Estate Investment 1. Strong Rental Demand Atlanta's growing population creates a constant demand for rental housing. As of 2023, the metro area’s population had reached over 6 million and is projected to grow to 7. 9 million by 2050, adding approximately 1. 8 million new residents. This influx is driven by Atlanta’s strong job market and diverse industries, attracting professionals, students, and families. For investors, this means lower vacancy rates and a consistent stream of rental income. Properties near employment hubs like Midtown or universities like Georgia Tech and Emory University experience particularly high demand. Read more: How Much Should I Rent My Atlanta Property For in 2025? 2. Rising Property Values Over the past decade, home prices in Atlanta have risen by an impressive 124%, with a median sale price of $420,000 as of October 2024. This steady appreciation makes Atlanta a great option for investors seeking long-term equity growth. Urban redevelopment projects like the Atlanta BeltLine have accelerated property value increases in neighborhoods close to new parks, trails, and amenities. 3. A Thriving Economy Atlanta’s economy is diverse and resilient, with strong contributions from sectors like technology, film production, logistics, and healthcare. The metro area added over 856,000 jobs between 2020 and 2023 and ranks as one of the top cities for job creation. With major corporations like Coca-Cola, Delta Air Lines, and UPS headquartered in Atlanta, the city continues to attract a steady influx of professionals. This economic stability translates into consistent housing demand, both for homebuyers and renters. Affordable Entry Points and Supply Considerations Despite rising prices, Atlanta remains more affordable than other large U. S. cities. Compared to markets like Los Angeles or New York, the cost of entry for Atlanta properties is lower, with opportunities in suburban areas like Roswell and Decatur offering attractive returns. However, supply is tightening, with 569 homes sold in October 2024, down slightly from 596 the previous year. Investors looking to capitalize on Atlanta’s growth should act soon to secure properties while affordability remains favorable. Infrastructure Development as a Growth Driver Atlanta’s infrastructure investments are a key reason for its real estate success. The Atlanta BeltLine, a 22-mile loop of multi-use trails and parks, has transformed neighborhoods and significantly boosted property values. Properties near the BeltLine have experienced above-average appreciation, and the ongoing expansion ensures continued growth potential. Additionally, improvements to the city’s transit system, MARTA, are enhancing connectivity across neighborhoods, making properties near transit lines more desirable. These projects attract both renters and buyers seeking convenience and walkability. Read more: Top Tips for Atlanta Landlords to Maximize Profit Tax Benefits for Investors Real estate investors in Georgia benefit from several tax incentives, including deductions for mortgage interest, property taxes, and depreciation. These deductions can significantly reduce your tax burden and enhance overall returns. Moreover, Georgia does not impose estate or inheritance taxes, making it an appealing market for long-term investors planning to pass properties on to future generations. Favorable Population Growth Projections Population growth is a cornerstone of Atlanta’s real estate strength. By 2050, the metro area is expected to gain another 1. 8 million residents, ensuring continued demand for housing. Suburban areas like Sandy Springs and Alpharetta are experiencing significant growth as families seek more space and better schools without sacrificing access to Atlanta’s amenities. These areas offer great opportunities for investors targeting long-term rental demand. Future Market Projections Experts predict that Atlanta home prices will grow by an average of 6% annually, outpacing national trends. Rental rates are also expected to rise as demand increases, driven by new residents and limited housing supply. For investors, this combination of rising property values and strong rental demand makes Atlanta a lucrative choice for building wealth over the long term. Key Considerations for Atlanta Investors Location is Everything Investing in neighborhoods with strong growth potential can significantly impact your returns. Established areas like Buckhead and Midtown are known for their high rental yields, while revitalized neighborhoods like Old Fourth Ward and East Atlanta Village offer opportunities for appreciation. Safety and Community Before purchasing, research crime rates and community amenities. Properties in safe, vibrant neighborhoods tend to attract more tenants and retain their value over time. Leverage Professional Management Managing a property remotely or as a side project can be challenging. Partnering with a property management company ensures your investment is well-maintained, tenants are screened carefully, and rental income is maximized. How Property Management Maximizes Returns Owning property is just the first step—managing it effectively ensures profitability. At Home365, we take the hassle out of property ownership. From marketing vacancies to handling repairs and tenant relations, we manage every detail to protect your income and increase your returns. Whether you’re a local investor or buying from out of state, our expert team ensures your property operates smoothly, so you can focus on expanding your portfolio. Is Atlanta Right for Your Investment Portfolio? Atlanta’s thriving economy, rising property values, and strong rental demand make it a compelling market for real estate investors. With a proactive strategy and the right support, you can capitalize on the city’s incredible growth potential. If you’re ready to take the next step or want to maximize the value of your existing investment, contact Home365 today. Let us help you achieve your real estate goals while making property ownership stress-free. --- > Let’s break down how you can determine the optimal rental rate in Atlanta and why Home365’s AI-powered tools can give you a competitive edge. - Published: 2024-11-19 - Modified: 2024-12-24 - URL: https://www.home365.co/growth-markets/atlanta/how-much-rent-atlanta-property/ - Categories: Atlanta Let’s break down how you can determine the optimal rental rate in Atlanta and why Home365’s AI-powered tools can give you a competitive edge. https://youtu. be/ZouXjY4Zlxs Setting the right rental price for your Atlanta property in 2025 is a crucial decision that can impact your profitability, tenant satisfaction, and overall success as a landlord. With Atlanta's dynamic rental market, understanding the nuances that influence pricing is essential. Let’s break down how you can determine the optimal rental rate and why Home365’s AI-powered tools can give you a competitive edge. Analyze the Atlanta Rental Market Start with Local Comparisons: Understanding your competition is the foundation of setting the right rental price. Look for properties with comparable size, amenities, and location to get a sense of the market average. Check Rental Trends: Atlanta’s rental market is influenced by economic growth, population shifts, and new developments. For instance, areas like Midtown and Buckhead often command premium rents due to proximity to tech hubs and cultural attractions, while emerging neighborhoods like Kirkwood are gaining popularity among families. Read more: Top 5 Places to Invest In Atlanta, GA Leverage Seasonality for Maximum Returns Timing is Everything: Rental demand in Atlanta often peaks in the summer months, as families and young professionals move before school or work commitments begin. Listing your property during this high-demand season can result in faster tenant placement and higher rental rates. Offer Flexibility in Off-Peak Seasons: If you’re renting during slower months, consider offering shorter lease terms or move-in incentives, such as reduced first-month rent, to attract tenants while minimizing vacancy periods. Evaluate Your Property’s Unique Selling Points Highlight Amenities: Certain amenities can justify higher rental prices. Properties with in-unit laundry, updated appliances, or smart home features tend to attract tenants willing to pay a premium. Outdoor spaces like private yards or balconies are especially valuable in a city like Atlanta, where tenants value quality of life. Emphasize Location: Proximity to public transportation, top-rated schools, and entertainment districts can significantly impact your property’s value. Highlighting your property’s walkability or access to major highways like I-285 can appeal to Atlanta’s diverse renter demographics. Source: realtor. com Avoid Guesswork: Use Home365’s AI-Powered Pricing Tools At Home365, we take rental pricing to the next level with our AI-driven rent pricing and underwriting process. Here’s how it works: Data-Driven Insights: Our advanced algorithms pull data from multiple sources—market trends, comparable properties, and your property’s specific features—to determine the optimal rental rate. Real-Time Adjustments: As the rental market evolves, our technology continuously refines its pricing recommendations, ensuring that your property remains competitive. Risk Mitigation Through Profit Protect: Our innovative Profit Protect Plan acts as a safety net for landlords. It covers unexpected costs like tenant transitions or repairs, giving you financial peace of mind. The more properties we manage, the smarter our system becomes, reducing your financial risk and maximizing your profitability. By leveraging these cutting-edge tools, you can confidently price your property for maximum returns while staying competitive in the Atlanta market. Understand Local Laws and Regulations No Rent Control in Georgia: Unlike some states, Georgia does not impose rent control laws. This gives Atlanta landlords more flexibility in setting rental prices, though it’s still important to remain fair and market-competitive. Stay Compliant: Ensure your lease agreements and rental practices comply with Georgia’s landlord-tenant laws, including timely return of security deposits and maintaining habitable conditions. Read more: Demystifying Atlanta Tenant Laws with Home365’s Property Management Atlanta Experts Regular Maintenance Boosts Rentability Prioritize Upkeep: Well-maintained properties attract higher-quality tenants. Routine maintenance, timely repairs, and modern upgrades can make your property stand out in Atlanta’s competitive market. First Impressions Matter: Before listing, ensure your property is move-in ready. A fresh coat of paint, professional cleaning, and minor repairs can go a long way in justifying your asking rent. Why Pricing Matters Maintaining accurate records of lease agreements, rent payments, maintenance expenses, and communications with tenants can safeguard you in case of disputes. Georgia law requires that landlords document specific aspects of their interactions with tenants, especially regarding security deposits and repairs. Investing in property management software can simplify record-keeping and allow you to access documentation when needed. Managing a rental property in Atlanta is easier with the right support. Home365 offers expert solutions for tenant screening, maintenance, and compliance. Ready to maximize your rental income with less hassle? Visit here to see how we can help. --- > Here’s a comprehensive guide to help you effectively manage your rental property in Atlanta and optimize your investment. - Published: 2024-11-04 - Modified: 2024-11-08 - URL: https://www.home365.co/growth-markets/atlanta/tips-for-atlanta-landlords/ - Categories: Atlanta Here’s a comprehensive guide to help you effectively manage your rental property in Atlanta and optimize your investment. https://youtu. be/1rP_LaZZwD4Being a landlord in Atlanta presents unique opportunities and challenges, given the city's dynamic rental market and distinct legal landscape. For both new and seasoned landlords, it’s crucial to stay informed and proactive to ensure a smooth experience. Here’s a comprehensive guide to help you effectively manage your rental property in Atlanta and optimize your investment. 1. Understand the Local Market and Set Competitive Rent The first step to a successful rental property is understanding the local Atlanta rental market. Atlanta's neighborhoods vary widely, with some areas seeing high demand and premium rents due to proximity to major employers or cultural attractions. Conducting a rental market analysis, or hiring a professional to do so, can help you understand current trends and set a competitive, profitable rate. Overpricing can lead to vacancies, while underpricing may result in lost revenue. Platforms like Zillow or HotPads provide insight into rental comps to help you make data-driven decisions. Read more: Living in Atlanta, Georgia 2. Ensure Your Property is Rent-Ready Tenants expect a clean, safe, and attractive space. Before marketing your property, ensure it’s move-in ready. This includes painting, repairing any damage, and ensuring all systems (plumbing, HVAC, electrical) are in good working order. First impressions matter, and properties in excellent condition often attract more responsible tenants who are likely to maintain the property. Consider staging your rental unit and taking high-quality photos, as well-presented homes draw more interest and can even justify higher rent. 3. Draft a Strong, Georgia-Specific Lease Agreement A well-crafted lease agreement protects both you and your tenants. Generic lease forms can lead to potential legal challenges, so use a Georgia-specific lease that complies with local and state laws. The Georgia Association of Realtors (GAR) lease, for example, is tailored for compliance with state regulations. Be explicit about lease terms, such as rent due dates, late fees, maintenance responsibilities, pet policies, and conditions for termination. 4. Screen Tenants Thoroughly A robust tenant screening process is essential to avoid future issues. Background checks, credit history, employment verification, and references from past landlords are all valuable tools in assessing potential tenants. In Georgia, landlords must comply with Fair Housing laws, so make sure your criteria are standardized and applied consistently across applicants. Red flags include past evictions, unpaid rent, or substantial credit issues. Taking the time to find reliable tenants can save you from the headaches and costs associated with evictions or property damage. 5. Stay Informed on Atlanta Tenant Laws Georgia’s landlord-tenant laws offer specific protections and responsibilities. Key points include:Security deposits: Georgia doesn’t set a maximum limit on security deposits, but you must return the deposit within 30 days of the tenant’s move-out date, minus any documented deductions. Notice requirements: For lease terminations, Georgia law requires a 60-day notice from the landlord and a 30-day notice from the tenant. Habitability: Landlords are legally responsible for maintaining habitable conditions, which include functional plumbing, heating, and electrical systems. Being well-versed in these requirements not only ensures compliance but also builds trust with your tenants, reducing the risk of disputes. Read more: Demystifying Atlanta Tenant Laws with Home365’s Property Management Atlanta Experts 6. Prioritize Preventive Maintenance and Quick Repairs Regular maintenance and prompt responses to repair requests are critical for keeping your property in good shape and your tenants satisfied. Schedule periodic inspections and address any small issues before they turn into expensive repairs. For instance, HVAC systems in Atlanta’s hot climate should be serviced annually to prevent breakdowns during the summer. To streamline maintenance, consider partnering with local contractors or a property management company like Home365, which offers comprehensive maintenance and repair services as part of their property management package. Source: realtor. com 7. Establish Clear Policies for Rent Collection and Late Fees Set clear expectations for rent payments from the start. Outline accepted payment methods, such as bank transfers or online payment portals, and specify due dates and late fees in your lease. Georgia law allows late fees but limits the amount, so ensure you remain within the legal limits. Implementing an easy, online rent payment system can improve convenience for tenants and increase the likelihood of on-time payments. 8. Prepare for Potential Evictions Properly Evictions are often a last resort but may be necessary when tenants fail to uphold their lease terms. In Georgia, you must provide a written notice and allow a period for the tenant to address the issue or vacate. If they don’t comply, you can file for eviction with the local magistrate court. Be aware that the process requires careful adherence to legal protocols, so it’s wise to consult with a legal professional or property management company experienced in Georgia evictions. 9. Leverage the Right Marketing Channels Marketing your rental property effectively is crucial for minimizing vacancy periods. High-quality photos and a detailed description of the property’s amenities and nearby attractions can boost interest. In Atlanta, where many renters are young professionals, online platforms such as Zillow, Apartments. com, and Trulia are effective for reaching potential tenants. Additionally, consider listing on social media or partnering with local real estate agents. 10. Consider Professional Property Management While managing rental property can be rewarding, it’s also time-intensive. A property management company can handle tenant screening, maintenance, rent collection, and even legal compliance. For Atlanta landlords, professional management can help navigate tenant laws, reduce vacancy times, and ultimately protect your investment. Home365, for example, offers transparent pricing, expert screening, and maintenance support to provide peace of mind for landlords. 11. Stay Updated on Atlanta’s Real Estate Trends The Atlanta rental market is constantly evolving, with factors like population growth, development projects, and economic shifts influencing demand and rental rates. Stay informed on these trends to optimize your investment strategy. For example, certain areas like Midtown and Buckhead have seen increased demand due to proximity to tech hubs and entertainment districts, while neighborhoods like Kirkwood are becoming more popular among families. Networking with other landlords or joining local associations can provide valuable insights and resources for managing your Atlanta rental property. 12. Keep Detailed Records of All Transactions and Communications Maintaining accurate records of lease agreements, rent payments, maintenance expenses, and communications with tenants can safeguard you in case of disputes. Georgia law requires that landlords document specific aspects of their interactions with tenants, especially regarding security deposits and repairs. Investing in property management software can simplify record-keeping and allow you to access documentation when needed. Managing a rental property in Atlanta is easier with the right support. Home365 offers expert solutions for tenant screening, maintenance, and compliance. Ready to maximize your rental income with less hassle? Visit here to see how we can help. --- > Let’s explore the ins and outs of home warranties, when they’re most effective, and some alternatives that may offer more protection for rental property owners. - Published: 2024-11-01 - Modified: 2024-11-03 - URL: https://www.home365.co/general-knowledge/property-management/choosing-property-management-solution/ - Categories: Property management Here’s a comprehensive guide on what to look for when selecting a property management service that aligns with your needs. https://www. home365. co/wp-content/uploads/2024/11/WhattoLookforWhenCho. mp4As a property owner, managing rental properties can be both rewarding and challenging. Whether you're dealing with tenant issues, handling maintenance, or ensuring timely rent collection, property management requires constant attention and expertise. That’s where a professional property management solution can make all the difference. But with so many options out there, how do you choose the right one? Here’s a comprehensive guide on what to look for when selecting a property management service that aligns with your needs. 1. Comprehensive Tenant Management Tenant management is at the core of property management. From finding the right tenants to maintaining good relationships, it's crucial for sustaining your rental income. Here’s what you should look for:Tenant Screening and Selection: Choose a service that thoroughly screens tenants, checking their credit, background, and rental history. This helps ensure that only reliable and responsible tenants occupy your property. Ongoing Tenant Management: Look for solutions that handle lease agreements, renewals, and even evictions when necessary. Efficient communication between tenants and management ensures tenant satisfaction and longer lease durations. Read more: How to Screen Tenants Without Meeting Them 2. Efficient Rent Collection & Financial Management Reliable and consistent rent collection is fundamental to managing your rental income. A top-notch property management service will offer systems that streamline this process, ensuring on-time payments. Automated Rent Collection & Disbursement: Automated systems for collecting rent can reduce the risk of missed payments, making the process hassle-free for both landlords and tenants. Financial Reporting: Look for solutions that provide detailed financial reporting. Transparent insights into income, expenses, and other economic activities help you keep track of your property's performance. Read more: How to Reduce Late Payments and Collect Rent on Time 3. Maintenance & Repair Management Maintaining your property in good condition is vital. A good property management service will ensure that all maintenance and repairs are handled efficiently and cost-effectively. Oversight of Maintenance & Repairs: From routine checks to emergency repairs, a good service will have a network of vetted vendors. Ensure that the management company offers the ability to approve bids and track the completion of repairs. Preventative Maintenance: Regular upkeep can prevent small issues from becoming big problems. A property management service that offers preventative maintenance can save you money in the long run by keeping the property in excellent condition. Read more: Property Management Maintenance 4. Legal & Compliance Support Managing rental properties requires navigating a maze of legal regulations. Compliance is critical to avoid penalties, lawsuits, or other legal issues. A reliable property management solution will provide legal expertise to ensure compliance with all relevant laws. Lease Agreement Management: A well-drafted lease agreement protects you and your property. Choose a service that ensures lease terms comply with local regulations and updates agreements as needed. Legal Expertise: From handling evictions to dealing with disputes, a good property management solution should be able to navigate the legal aspects of property management with ease. 5. Marketing & Tenant Acquisition Keeping your property occupied is key to a steady income stream. Effective marketing strategies are essential for minimizing vacancies and attracting quality tenants. Marketing Tools & Strategies: Look for a property management service that actively markets your property through multiple channels. This ensures high visibility and quick occupancy. Tenant Acquisition Process: Effective tenant acquisition involves more than just advertising. Ensure that the service screens applicants thoroughly and complies with fair housing laws. 6. Guaranteed Income Protection Your rental income is at risk from various factors like vacancies, tenant defaults, or unexpected repairs. Some property management solutions offer income protection features, ensuring steady cash flow even in uncertain times. Rent Protection: If your tenant doesn’t pay, a quality service will still ensure you receive your rent, eliminating the stress of potential income loss. Vacancy Protection: Choose a service that minimizes downtime by filling vacancies quickly, thus ensuring continuous rental income. Repairs Protection: Managing unexpected repairs can be stressful. Look for a service that covers repair costs or offers a deductible-based plan to reduce your financial burden. Learn more about Home365’s Profit Protect plan 7. No Hidden Fees & Transparent Pricing Clear, upfront pricing is a hallmark of a trustworthy property management solution. Be cautious of hidden fees that can eat into your profits. No Junk Fees: Ensure that the service covers all expected costs, including leasing, evictions, and delinquencies, without surprise charges. Understand their pricing structure, and be clear on what is and isn’t included. 8. Preventative Maintenance Services Good property management doesn’t just react to issues; it proactively prevents them. Look for a service that emphasizes regular maintenance checks to avoid costly future repairs. Scheduled Inspections & Maintenance: Regular inspections can catch small problems before they become major issues, saving you money and ensuring tenant satisfaction. Vendor Network: Check if the property management service has a robust network of reliable vendors. They should be able to handle any maintenance needs swiftly and efficiently. 9. Reliable Customer Support Strong customer support is a must-have feature for any property management service. When issues arise, you need a team that can respond quickly and resolve problems efficiently. 24/7 Support: Problems don’t stick to a 9-5 schedule, so neither should your property management service. Look for solutions that offer round-the-clock support to address emergencies or urgent issues. Dedicated Account Manager: A dedicated account manager can streamline communication, ensuring a personalized approach to managing your property’s needs. 10. Tech-Enabled Convenience Technology can simplify property management, making tasks more efficient and less time-consuming. Opt for a tech-savvy service that utilizes modern tools to streamline operations. Online Portals for Tenants & Landlords: User-friendly online portals allow tenants to make payments, submit maintenance requests, and communicate directly with management. Landlords can monitor property performance, review finances, and approve repairs easily. Mobile App Compatibility: Managing properties on-the-go is a reality for many landlords. Mobile-friendly platforms let you access important information and manage tasks from anywhere. Learn more about Home365’s property management software Conclusion: Why Our Solution Checks All the Boxes Selecting the right property management service can be the difference between a hassle-free investment and a stressful experience. The best services offer a combination of comprehensive tenant management, reliable financial tools, effective marketing, and robust legal support. Our property management solution provides all these features and more. From automated rent collection and detailed financial reporting to guaranteed income protection and preventative maintenance, we’ve got you covered. Our focus on transparency means no hidden fees, and our tech-enabled tools ensure that managing your property is easier than ever. Ready to make property management a breeze? Contact us today to learn more about how our solution can help you manage your rental property with confidence. --- > Let’s explore the ins and outs of home warranties, when they’re most effective, and some alternatives that may offer more protection for rental property owners. - Published: 2024-10-22 - Modified: 2024-10-28 - URL: https://www.home365.co/general-knowledge/property-management/home-warranties-worth-it/ - Categories: Property management Let’s explore the ins and outs of home warranties, when they’re most effective, and some alternatives that may offer more protection for rental property owners. Homeownership inevitably comes with the need for repairs and maintenance. From appliance breakdowns to plumbing issues, costs can add up quickly. One way homeowners and landlords attempt to mitigate these expenses is through home warranties. But how do these warranties work, and are they really worth the investment? Let’s explore the ins and outs of home warranties, when they’re most effective, and some alternatives that may offer more comprehensive protection for rental property owners. What Is a Home Warranty? A home warranty is a service contract that covers the repair or replacement of major home systems and appliances due to normal wear and tear. Unlike homeowner’s insurance, which covers damage from events like fires or natural disasters, a home warranty specifically targets systems and appliances that might break down over time. These warranties typically include items like HVAC systems, plumbing, electrical systems, and essential appliances such as refrigerators and ovens. Home warranties are renewable annually, and coverage can vary widely depending on the provider and plan. They usually involve a set fee for each service call, which the homeowner pays when requesting a repair. When Is a Home Warranty Worth It? A home warranty might be worth considering if: You Own Older Appliances and Systems: If your home’s appliances and systems are aging, a home warranty can be a cost-effective way to cover repairs or replacements as they wear out. You Prefer Convenience: For those who would rather not spend time finding repair technicians and comparing quotes, a home warranty offers a single point of contact for all covered repairs. You Don’t Have Significant Savings for Emergency Repairs: If an unexpected repair could strain your finances, a home warranty can provide peace of mind by helping to cover these unforeseen expenses. In these cases, a home warranty can help smooth out costs over time, providing a buffer against financial surprises. Read more: Rental Property Insurance Tips That Prevent Pain and Save Money When Is a Home Warranty Not Worth It? While home warranties can be helpful, they’re not always the best option for every homeowner. Consider skipping a home warranty if: You Have New Appliances and Systems: Many new items are already covered by manufacturer warranties, which typically last one to three years. Adding a home warranty might not provide much additional benefit in these cases. You Regularly Maintain Your Home Systems: Regular maintenance can extend the lifespan of home systems and appliances, potentially reducing the need for costly repairs. If your appliances are well-maintained, a home warranty might not offer significant value. You’re Comfortable With DIY Repairs: If you have the skills to handle basic repairs, you may not need a home warranty. While some issues require professional attention, many common problems can be tackled by a handy homeowner with the right tools. You Have an Emergency Fund: If you’ve set aside funds for potential repairs, you might prefer to handle these costs out of pocket, avoiding service fees and coverage limitations associated with home warranties. What Is Covered in a Home Warranty Policy? Home warranties generally cover a range of home systems and appliances. Coverage can include: Major Systems: HVAC, plumbing, electrical, and sometimes septic systems. Appliances: Kitchen appliances like refrigerators, ovens, dishwashers, and laundry machines. Optional Add-Ons: Some providers offer additional coverage for pools, spas, second refrigerators, and other specific items. The exact coverage depends on the policy and provider, so it’s essential to review your contract to understand what is and isn’t included. How Do Home Warranties Work? When an appliance or system breaks down, the homeowner contacts their warranty provider, who then arranges for an approved technician to assess the issue. Here’s a step-by-step look at the process: Request Service: You file a claim online or over the phone with your warranty provider. Pay Service Fee: A set service fee is charged for each repair visit, which typically ranges from $50 to $125. Repair Assessment: The technician assesses the issue and, if covered, performs the repair or orders replacement parts. Coverage Limits Apply: Most policies have limits on the amount they’ll pay for specific repairs or replacements. If the cost exceeds the coverage limit, you may be responsible for the difference. It’s worth noting that some repairs might take time due to parts availability or the technician’s schedule. Additionally, not all providers allow you to choose your own repair company, which can affect repair quality and timing. Read more: Why a Rental Property Management Company Should Require Renter’s Insurance What Don’t Home Warranties Cover? While home warranties can provide broad coverage, there are common exclusions to be aware of: Pre-existing Conditions: Issues that existed before the warranty coverage began are typically not covered. Improper Maintenance: If a breakdown results from inadequate maintenance or installation, the warranty may not cover it. Certain Structural Elements: Items like windows, walls, flooring, and the home’s foundation are generally excluded from coverage. Damage Due to Natural Disasters: These are usually covered under homeowner’s insurance rather than a home warranty. Wear and Tear Beyond Normal Use: Excessive wear or misuse can lead to claim denials. It’s crucial to read the fine print of your warranty contract to understand what is and isn’t included. Exclusions vary by provider, and it’s wise to confirm that the policy aligns with your specific needs. Is a Home Warranty the Same as Home Insurance? No, home warranties and home insurance serve different purposes. Home insurance covers damage to your home and personal property from incidents like fires, storms, and theft. It also includes liability protection if someone is injured on your property. On the other hand, a home warranty is designed to cover the repair or replacement of systems and appliances due to normal wear and tear. While home insurance is typically mandatory for homeowners with a mortgage, home warranties are entirely optional. Homeowners might find value in having both, as they provide complementary types of coverage. However, a home warranty is not a replacement for home insurance. Do I Need a Home Warranty? Deciding whether to invest in a home warranty depends on your situation. If you’re buying an older home or one with outdated systems, a warranty could provide reassurance against unexpected repairs. However, if you’re purchasing a new home or one with recently updated appliances, you may not need the additional coverage. Consider the following questions to help make your decision: Are your appliances and systems relatively new and still under manufacturer warranties? Do you have a financial cushion for emergency repairs? How comfortable are you with handling minor repairs or finding contractors? If you’re unsure, it might make sense to get a home warranty for the first year after buying a home, especially if the property has older systems. This allows you time to evaluate the condition of the home while having some protection against major repair costs. How to Choose a Home Warranty If you decide a home warranty is right for you, it’s essential to choose the right provider. Here are some tips to guide your selection: Compare Providers: Research reputable companies, read customer reviews, and compare plan options. Review Coverage Options: Make sure the policy covers the systems and appliances you’re most concerned about. Understand Exclusions and Limits: Carefully read the service contract to understand any exclusions and coverage limits. Consider Service Fees: Different providers charge different fees for each service call. Factor this into your budget. Check for Flexibility: Some providers allow you to select your own repair technician, while others assign one for you. If you have a preferred contractor, confirm whether they can be used under your warranty. Home Warranty Alternatives While home warranties can be beneficial, they’re not the only way to protect your home’s systems and appliances. Here are some alternative approaches: Emergency Savings Fund: Setting aside money specifically for home repairs can give you financial flexibility without the constraints of a home warranty contract. Manufacturer Warranties: Many appliances and systems come with manufacturer warranties. Review these before purchasing a home warranty to avoid redundant coverage. Home Insurance Endorsements: Some insurance providers offer endorsements that cover electrical or mechanical breakdowns for an additional fee. Regular Maintenance: Routine maintenance can help extend the life of your home’s systems, reducing the need for repairs. This might make a home warranty unnecessary, particularly if your systems are well cared for. Each of these alternatives has its pros and cons. For some, the predictability of a home warranty might outweigh the flexibility of managing an emergency fund. For others, a mix of savings and manufacturer warranties might be more appealing. Introducing Profit Protect: More Than a Home Warranty While home warranties offer useful coverage, they don’t address some of the key concerns faced by rental property owners. Specifically, they don’t protect against lost rental income or tenant-related challenges. That’s where Profit Protect comes in. Profit Protect is not a home warranty or an insurance policy. Instead, it’s a comprehensive property management plan that combines maintenance coverage with income protection. Profit Protect offers: Rent Protection: We cover lost rent if your tenant defaults, ensuring your income remains steady. Vacancy Protection: If your property becomes vacant, we cover your rental income until a new tenant is secured. Repairs and Turnover Protection: Profit Protect covers repair costs for normal wear and tear, as well as turnover costs to make the property ready for new tenants. No Hidden Fees: From leasing costs to evictions, Profit Protect covers all aspects of property management, with no surprise fees. Final Thoughts: Weighing Your Options When it comes to protecting your home or rental property, there’s no one-size-fits-all solution. Home warranties can offer peace of mind for certain repairs and maintenance, but they also come with limitations that may not address every need, particularly for landlords managing rental income and tenant turnover. It’s important to carefully consider your options and what’s most important for your situation—whether it’s having a warranty to cover appliance breakdowns or seeking a more comprehensive approach to protect your property and rental income. For those looking for a broader solution that includes both maintenance and income protection, exploring alternatives like Profit Protect can be worth considering. To learn more about how these types of plans work and whether they align with your needs, feel free to visit our website for further details. --- > We created a brand-new special offers section—a dedicated space where homeowners can access exclusive offers from leading companies in the real estate industry. - Published: 2024-10-06 - Modified: 2024-10-30 - URL: https://www.home365.co/general-knowledge/property-management/new-special-offers-for-investors/ - Categories: Property management This article explores why property management companies frequently receive negative perceptions. At Home365, we’re committed to helping real estate investors get more out of their properties. That’s why we’ve created a brand-new special offers section—a dedicated space where homeowners can access exclusive offers from leading companies in the real estate industry. Whether you're a current Home365 homeowner or exploring property management options, this new feature is designed to help you scale your real estate investments with ease. Our carefully selected partners offer unique resources in lending, insurance, and off-market property opportunities, all aimed at making your investment journey more profitable. Meet Our Partners We’ve partnered with top companies in the real estate space to provide homeowners with the best tools and resources for growing their portfolios: Insurify: This smart virtual platform helps you find the right coverage for auto, home, and life insurance. Insurify’s advanced technology delivers fast, personalized quotes, making the insurance decision process easy and efficient. Kiavi: With over $12. 3B in funded loans, Kiavi uses data and technology to provide real estate investors with a fast, reliable, and simple way to secure capital for scaling their investment portfolios. Doorvest: A full-service platform for real estate investors, Doorvest helps you buy, renovate, lease, and manage properties, making real estate investing more accessible and minimizing cost, time, and risk. Steadily: Designed with modern landlords in mind, Steadily offers fast and affordable insurance solutions, combining excellent customer service with efficient, tech-driven processes. Lendai: Offering US financing for foreign investors, Lendai levels the playing field by providing global investors with easy access to competitive financing solutions tailored for the US real estate market. Obie: Simplifying landlord insurance, Obie allows you to request a quote in under 5 minutes—eliminating the hassle of lengthy paperwork and wait times while offering comprehensive coverage options. And that’s not all—there are many more partners coming soon, bringing even more exclusive opportunities for Home365 homeowners. How to Access your Special Offers If you're already part of the Home365 community, simply log in to your Owner Portal and navigate to the “Special Offers" tab. There, you'll find specialized resources on lending, insurance, and off-market properties, all designed to help you grow your portfolio. If you’re new to Home365, this is just one of the many benefits we offer to help real estate investors achieve their goals. Along with our innovative property management solutions, this Marketplace gives you the tools you need to maximize your investment returns. Maximize Your Real Estate Potential Today! Whether you’re an experienced investor or just getting started, Home365’s new Marketplace offers unique resources to help grow your portfolio and increase profitability. Log in today or explore how Home365 can support your real estate investment journey by visiting our website. --- > This article explores why property management companies frequently receive negative perceptions. - Published: 2024-09-24 - Modified: 2024-09-25 - URL: https://www.home365.co/general-knowledge/property-management/unhappy-with-property-management-company/ - Categories: Property management This article explores why property management companies frequently receive negative perceptions. Property management firms often become the targets of frustration and complaints from real estate investors. Many hold their property managers accountable for lackluster returns, persistent vacancies, high tenant turnover, and mounting maintenance bills. But what if the primary issue isn't the property management company at all? What if the root of the dissatisfaction lies in the investors' own poor investment choices? This article explores why property management companies frequently receive negative perceptions: they are often left to untangle the consequences of investors purchasing unsuitable properties, in unfavorable locations, or without adequate resources to support a profitable rental venture. 1) The Allure of Social Media "Experts" and Misguided Expectations A multitude of novice investors are drawn into real estate by the promises of TikTok and Instagram "gurus" who assure success through deceptively simple guidelines. These influencers depict real estate as the ultimate path to building generational wealth, highlighting rapid successes and triumphant stories. While real estate can indeed be a potent wealth-building tool, the reality is far more intricate than the fleeting viral clips suggest. These so-called gurus often advocate for simplistic formulas like the "1% rule"—where monthly rent should be 1% of the property's purchase price—or suggest allocating only 10% for maintenance costs. However, real estate investing is far from passive, and these oversimplified rules fail to capture the complexities of the actual market. While numbers can be made to look favorable on paper, real-world investing presents challenges that these simplistic strategies leave investors unprepared for. 2) Harsh Realities: Bridging the Gap Between Theory and Execution On spreadsheets, the figures often appear promising. Capitalization rates seem attractive, and cash flow forecasts indicate profitability. However, when it's time to execute these investments, investors confront the stark realities of property maintenance and management. Many overlook that real estate investing demands active involvement and continuous attention. This mismatch between expectations and reality is where property management companies step in, often inheriting the fallout from investors who lack the experience or financial capacity to handle the ongoing demands of rental properties. 3) The Temptation of Inexpensive Properties: Setting the Stage for Failure Numerous investors gravitate towards low-priced properties because they can manage the 20% down payment. At first glance, it seems like a lucrative opportunity. However, if an investor lacks the financial means or time to invest in the property's upkeep, it swiftly turns into a liability. A budget property may attract tenants, but it often comes with a slew of issues: neglected maintenance, delinquent tenants, and frequent vacancies. Without proper care, these properties become increasingly difficult to manage, and the costs of repairs and tenant turnover start eroding profits. What initially appeared to be a sound investment transforms into a financial drain. 4) A Downward Spiral: Poor Maintenance Attracts Unreliable Tenants Properties that aren't properly maintained tend to attract tenants with limited options. These tenants may often face financial instability, leading to problems like late rent payments and frequent delinquencies. This increases turnover costs, as poorly maintained properties typically experience higher vacancy rates and more significant repair expenses when tenants move out. This cycle creates a negative feedback loop: the property continues to deteriorate, tenant quality declines, and the owner's returns diminish. Eventually, the investor may find themselves operating at a loss. 5) Low-Cost Properties Mean Lower Rent and Unstable Income Streams A well-known principle in real estate is that cheaper properties generally command lower rents. While this might seem appealing, lower rents often correlate with a less stable tenant base. For instance, the average rent in the U. S. is about $1,500 per month. Ideally, a tenant paying this amount would have a household income of around $60,000 per year, close to the U. S. median salary of $57,200. However, tenants who can only afford rent below $1,000 may be working unstable, hourly jobs, introducing significant financial unpredictability. This instability undermines the entire investment strategy, leading to increased risks of property ownership, such as higher default rates, more frequent evictions, and prolonged vacancies. 6) Challenges in Difficult Markets: Regulations, Taxes, and Investment Traps Investing in states with stringent pro-tenant laws can result in lengthy and expensive eviction processes. These not only extend vacancy periods but also substantially increase legal and repair costs. Tenants facing eviction may retaliate by damaging the property, further depleting the owner's profits. Moreover, investing in high-tax states with minimal property appreciation can erode profit margins, making it challenging to achieve profitability. Some states require rental licenses, adding operational burdens through mandatory inspections and costly compliance requirements. Furthermore, choosing properties in areas lacking diverse industries can lead to higher vacancy rates and longer gaps between tenants. Investors who neglect thorough research into the local economy may find themselves with unoccupied properties and diminished rental income. 7) The Financial Strain of Hiring a Property Manager on a Tight Budget Because many investors manage properties remotely, they hire local property management firms to oversee their rentals. However, when an investor's financial plan is flawed, they can only afford to pay the property manager a minimal fee—often the equivalent of one month's rent. This typically amounts to about $80–$100 per month for management services. The issue is that managing a property is far more complex than what a $100 monthly fee can cover. To put it into perspective, this amount is comparable to paying someone for four hours of work per month. Yet, for this fee, the property manager is expected to handle a full spectrum of responsibilities: marketing the property, screening tenants, negotiating leases, addressing maintenance requests, managing delinquencies, representing the owner in legal matters, and more. In essence, investors are compensating minimally for a service that demands significant effort. The property manager is expected to function as the "CEO" of the investment but is being paid a fraction of the job's true value. 8) The Inescapable Truth: A Bad Investment Can't Be Saved by Even the Best Property Manager Ultimately, regardless of how skilled or dedicated a property manager is, they cannot turn a poor investment into a successful one. The reality is that a cheap, poorly located, or neglected property will remain problematic, no matter how diligently the property manager works. At Home365, we've observed a direct link between rental prices and owner satisfaction. Higher rents typically correlate with happier owners. This is because higher rents usually indicate better-quality properties, more reliable tenants, and more predictable returns. Conclusion The negative perceptions toward property management companies often stem from investors' unrealistic expectations and poor investment decisions. While property managers handle the daily operations of rental properties, there's a limit to what they can achieve when the property itself is a liability. Real estate investing can be a powerful avenue for wealth creation, but it requires careful planning, realistic expectations, and a commitment to property maintenance. Investors who rely on oversimplified formulas or unrealistic projections are likely to face disappointment, and no property manager can rectify those fundamental mistakes. At Home365, we believe that by educating investors and providing the right tools, we can help make real estate the profitable, long-term investment it is meant to be. Contact us today to learn more about our comprehensive property management services and how we can help you protect your investment. --- > As the rental market grows competitive, solutions that bring rent collection, financial tracking and maintenance into one platform are becoming more popular. - Published: 2024-09-09 - Modified: 2024-09-17 - URL: https://www.home365.co/general-knowledge/property-management/property-management-software/ - Categories: Property management As the rental market grows competitive, solutions that bring rent collection, financial tracking and maintenance into one platform are becoming more popular. Managing a rental property, even a single one, comes with a wide range of challenges. Many homeowners find themselves balancing tenant communication, maintenance coordination, and financial tracking—all while trying to stay profitable. The Challenges of Managing a Rental Property Profitably and Stress-Free From handling tenant requests to ensuring maintenance is done on time, property management can quickly become overwhelming. Even experienced landlords can struggle with keeping everything organized, especially when working with different platforms for payments, repair tracking, and accounting. These challenges are not just time-consuming—they can also lead to lost revenue if not managed properly. The Need for an All-in-One Solution What many homeowners seek is a way to consolidate all these tasks into one place. Property management is far more efficient when you have access to rent collection, financial reports, and maintenance requests in a centralized platform. Rather than using separate apps for each function, having a solution that brings everything together can save time and reduce stress. Streamlining Rent Collection and Financial Tracking One of the most critical aspects of rental property management is ensuring that rent is collected on time and accurately. Many landlords use third-party apps that charge extra fees just for this service. Having rent collection integrated into a comprehensive platform makes the process smoother, offering a clear view of your property’s financial health in one place. Our platform simplifies property management by streamlining everything from rent collection to maintenance, providing full transparency. Get a quote for your property management in just 60 seconds. Making Maintenance Easier with Better Communication Coordinating repairs and maintenance can be one of the most stressful parts of owning a rental. Tenants need an easy way to submit repair requests, and landlords need assurance that repairs are handled efficiently. When these tasks are tracked through a centralized system, everyone involved benefits from clearer communication, faster resolutions, and greater transparency. Gaining Real-Time Property Insights For landlords, staying on top of your rental's performance is key to making informed decisions. Having a live dashboard that provides instant updates on income, expenses, and maintenance requests allows homeowners to manage their properties effectively, without needing to switch between different apps or platforms. Why More Homeowners Are Turning to Comprehensive Solutions As the rental market grows more competitive, many homeowners are realizing that using fragmented tools to manage properties isn’t sustainable. Solutions that bring rent collection, financial tracking, and maintenance coordination into one platform are becoming more popular because they simplify the process and help homeowners stay profitable. To learn more about how our proprietary software addresses these challenges, explore the Home365 Owner Portal, where everything is handled in one place, with transparency and efficiency. Contact us today to learn more about our free, proprietary software designed specifically for managing single-family rental homes. --- > This blog post delves into the distinct aspects of managing properties in Las Vegas, offering insights and strategies for navigating this unique market. - Published: 2024-08-27 - Modified: 2024-08-29 - URL: https://www.home365.co/growth-markets/las-vegas/las-vegas-rental-essential-tips-property-owners/ - Categories: Las Vegas This blog post delves into the distinct aspects of managing properties in Las Vegas, offering insights and strategies for navigating this unique market. Managing a rental property effectively requires more than just handling everyday tasks; it's crucial to be prepared for emergencies that can impact both your tenants and your investment. Here’s how you can get ready for unexpected situations: 1. Regularly Inspect and Maintain Your Property Preventative maintenance is the foundation of emergency preparedness. Regular inspections help identify and address potential hazards before they escalate. Here’s what to focus on:Electrical Systems: Ensure all wiring is up to code and regularly inspected by a licensed electrician. This reduces the risk of fires caused by faulty electrical work. Plumbing: Check for leaks, water pressure issues, and the overall condition of your plumbing. Preventing water damage before it starts can save you considerable time and money. HVAC Systems: In a city like Las Vegas, where temperatures can soar, having a reliable HVAC system is crucial. Regular servicing helps avoid breakdowns during extreme weather. Routine maintenance not only prevents emergencies but also keeps your property in top shape, leading to happier tenants and fewer emergency calls. Home365's Profit Protect Plan includes preventative maintenance as part of its extensive coverage, ensuring your property remains in excellent condition. 2. Provide Essential Resources to Tenants Empowering your tenants with the right resources is key to ensuring their safety during an emergency. Consider the following provisions:Emergency Supply Kits: Each unit should have a basic emergency kit that includes a first aid kit, flashlights, batteries, water, and non-perishable food. These items can be lifesavers during a power outage or other emergency. Contact Information: Make sure your tenants have an updated list of emergency contacts, including local fire and police departments, hospitals, and your contact information. Emergency Checklist: Provide tenants with a checklist detailing what to do in various emergency scenarios, such as shutting off the water in case of a leak. Providing these resources ensures that your tenants can respond effectively during an emergency, minimizing risks and potential damage. 3. Establish Clear Communication Channels Effective communication during an emergency is critical. Your tenants should know how to reach you or your property manager at all times. Here’s how to set up reliable communication:Dedicated Emergency Line: Consider setting up a dedicated phone line or email address specifically for emergency use. This ensures that urgent issues are promptly addressed. Mass Notifications: Implement a system that allows you to send mass notifications to all tenants via text or email in case of an emergency. Emergency Contact Numbers: Provide tenants with a comprehensive list of contacts for various emergencies, including utility companies and local services. Clear communication protocols ensure that both you and your tenants can act quickly and appropriately in any emergency situation. If you're a Home365 homeowner or tenant, you can reach our dedicated emergency line 24/7 at (800) 837-0037 for immediate assistance. 4. Create a Comprehensive Emergency Plan Having an emergency plan is essential for managing unexpected events. Your plan should be thorough and cover all possible scenarios, including:Evacuation Routes: Clearly marked and easily accessible evacuation routes are crucial. Ensure that all tenants know these routes and that they are unobstructed. Meeting Points: Designate a safe location outside the property where tenants can gather after evacuating. Communication Plan: Outline how tenants should communicate during an emergency, whether they should contact you first or call emergency services directly. Distribute this plan to all tenants and consider conducting regular walkthroughs or meetings to ensure everyone understands the procedures. 5. Educate Your Tenants on Emergency Procedures Even the most comprehensive emergency plan is ineffective if tenants are unaware of it. Education is key to ensuring that everyone knows how to respond in an emergency. Here’s how you can educate your tenants:Welcome Packets: Include detailed emergency instructions and contact information in the welcome packet for all new tenants. Annual Safety Meetings: Hold annual meetings to refresh tenants on emergency procedures and provide updates or changes to the plan. Ongoing Communication: Regularly remind tenants of emergency procedures, especially before high-risk seasons, such as summer when wildfires or extreme heat might be a concern. Educating tenants helps to ensure that everyone is on the same page, reducing confusion and enhancing safety during an emergency. 6. Understand Local and State Requirements If you’re managing a property in Las Vegas, staying compliant with local and state regulations is not just about avoiding fines; it’s about ensuring that your property meets safety standards that protect your tenants. Key areas to focus on include:Safety Equipment: Install and regularly test smoke detectors, carbon monoxide alarms, and fire extinguishers. These devices are often required by law and are vital for tenant safety. Building Codes: Ensure your property complies with all local building codes, especially those related to fire safety, electrical systems, and structural integrity. Utility Maintenance: Regularly check and maintain essential utilities, such as water, gas, and electricity, to prevent emergencies stemming from their failure. By staying compliant with local and state requirements, you help safeguard your property and tenants, while also minimizing your legal liability. 7. Work with Professional Property Management Handling emergencies can be overwhelming, especially if you own multiple properties or live far away from your rental. A professional property management company can be invaluable in these situations. Here’s how they can help:24/7 Emergency Response: A property management company can provide around-the-clock emergency response, ensuring that any issues are promptly addressed, no matter the time of day. Coordination of Repairs: Should an emergency result in property damage, the management company can quickly coordinate repairs, minimizing downtime and tenant inconvenience. Regulatory Compliance: Property managers stay up-to-date with local regulations and ensure your property remains compliant, reducing the risk of fines or legal issues. At Home365, we offer comprehensive property management services designed to handle emergencies efficiently and effectively. Our team is equipped to manage all aspects of emergency preparedness, from planning to execution. 8. Review and Update Your Emergency Plan Regularly An emergency plan should never be static. As conditions change and new risks emerge, it’s important to regularly review and update your emergency plan to ensure it remains effective. Here’s what to consider:Annual Reviews: Set aside time each year to review your emergency plan. Check for any changes in local laws, new risks that have emerged, or updates needed based on tenant feedback. Tenant Input: After an emergency or drill, solicit feedback from tenants to identify any areas where the plan can be improved. Stay Informed: Keep up with the latest safety guidelines and recommendations from local authorities, and adjust your emergency plan accordingly. Regularly updating your emergency plan helps ensure that it continues to meet the needs of your property and tenants, providing peace of mind for everyone involved. 9. Identify Potential Emergencies Understanding the types of emergencies that could impact your rental property is the first step in being prepared. In Las Vegas, the following are common emergencies that you should be ready for:Fire: From wildfires to electrical fires, understanding the risks and having preventive measures in place is crucial. Water Damage: Even in a desert city, water damage from plumbing issues or flash floods can occur. Knowing how to shut off water and handle leaks is essential. Extreme Heat: Las Vegas summers can be brutal. Ensure that your HVAC systems are in top condition to prevent heat-related emergencies. Security Threats: Break-ins and vandalism are also potential emergencies that require preparation. By identifying these potential emergencies, you can tailor your emergency preparedness efforts to address the most likely scenarios. Conclusion Emergencies can happen at any time, but with the right preparation, you can manage them effectively. By regularly inspecting your property, educating your tenants, and maintaining open communication, you can ensure that both your tenants and your investment are protected. Additionally, working with a professional property management company like Home365 can provide you with the support you need to handle emergencies quickly and efficiently. At Home365, we’re committed to helping property owners like you navigate the challenges of rental management. Whether it’s creating an emergency plan, ensuring compliance with local regulations, or handling tenant emergencies, we’re here to help. Contact us today to learn more about our comprehensive property management services and how we can help you protect your investment. --- > This blog post delves into the distinct aspects of managing properties in Las Vegas, offering insights and strategies for navigating this unique market. - Published: 2024-08-11 - Modified: 2024-08-11 - URL: https://www.home365.co/growth-markets/las-vegas/all-about-property-management-in-las-vegas/ - Categories: Las Vegas This blog post delves into the distinct aspects of managing properties in Las Vegas, offering insights and strategies for navigating this unique market. Las Vegas stands out as a unique real estate market in the United States, shaped by its vibrant entertainment-driven economy and a diverse, transient population. Unlike many other cities, Las Vegas experiences significant seasonal fluctuations in rental demand, influenced by its status as a top destination for tourists and conventions. These factors contribute to a dynamic rental landscape, where nearly half of the residents opt to rent rather than own. For property owners, this creates both opportunities and challenges, making effective property management crucial. Understanding the local market's nuances, from the city's economic drivers to the specific needs of its residents, is essential for maximizing returns and maintaining high occupancy rates. This blog post delves into the distinct aspects of managing properties in Las Vegas, offering insights and strategies for navigating this unique market. Becoming a Property Manager in Las Vegas: A Distinct Path The path to becoming a property manager in Las Vegas involves understanding specific licensing requirements unique to Nevada. Unlike other states, Nevada requires property managers to hold a real estate license and a property management permit. This regulatory framework ensures that property managers are well-equipped to handle the complexities of the local market, including tenant laws and property maintenance standards. For those looking to enter the field, gaining experience in real estate and completing the necessary educational courses are essential steps. 5 Questions To Ask Your Property Manager In Las Vegas Key Aspects of Property Management in Las Vegas Lease Renewals and Retention Strategies Handling Rent Collection and Financial ManagementEfficient rent collection is crucial for maintaining a steady cash flow. In Las Vegas, property management companies like Home365 leverage technology to automate payment processes, ensuring timely rent collection and accurate financial reporting. This not only benefits property owners but also provides tenants with convenient payment options. Comprehensive Background Checks and Tenant ScreeningLas Vegas attracts a diverse population, including transient residents (individuals who do not stay long-term in the same location). Conducting thorough background checks is vital to ensure the safety and reliability of tenants. Property managers in the city utilize comprehensive screening processes to verify tenants' financial stability and rental history, minimizing the risk of problematic tenants. Maintenance and Home Care ServicesThe desert climate of Las Vegas poses unique challenges for property maintenance, such as extreme temperatures and limited water resources. Home365 provides proactive maintenance services, addressing issues like HVAC upkeep and plumbing to maintain property value and tenant satisfaction. 5 Simple but Effective Ways to Secure Your Vegas Rental Property Lease renewals are a critical aspect of property management, particularly in a city with a high rental turnover rate. Property managers in Las Vegas focus on building strong relationships with tenants, offering incentives for lease renewals and addressing tenant concerns promptly. By providing a seamless renewal process, companies can reduce vacancy rates and ensure long-term profitability for property owners. Leveraging Technology for Efficient Management Technology plays a pivotal role in modern property management. In Las Vegas, where the market is highly competitive, property managers use advanced software and digital platforms to streamline operations. This includes online portals for tenant communication, maintenance requests, and financial tracking. Home365, for instance, offers a comprehensive owner portal, allowing property owners to monitor their investments in real time. Why Las Vegas is Unique for Property Owners Las Vegas presents a unique blend of opportunities and challenges for property owners. The city's dynamic economy, largely driven by tourism and entertainment, creates a dynamic rental market with a constant influx of potential tenants. Large-scale events and conventions can lead to seasonal fluctuations in rental demand, providing opportunities for higher rents during peak times. Property owners must be prepared to navigate these fluctuations and maintain their properties to attract and retain quality tenants. The diverse and transient population in Las Vegas also means that properties need to cater to a wide range of tenant preferences and needs, making the market both challenging and rewarding for property owners. Understanding the Las Vegas Housing Market Las Vegas presents a unique housing market characterized by a high demand for rental properties. With a growing population and a total of 256K housing units, the city is poised for continued growth. The median sale price in Las Vegas stands at $450K, a +7. 2% year-over-year increase, which is notably higher than the national median home sales price of $442,525 and homes usually sell after 38 days on market. The median rent in Las Vegas, NV is $2,100. Climate's impact on Las Vegas housing Learn about natural hazards and environmental risks, such as floods, fires, wind, and heat that could impact homes in Las Vegas. Flood Factor - Minor 1% of properties are at risk of severe flooding over the next 30 years Fire Factor - Major 34% of properties are at risk of wildfire over the next 30 years Wind Factor - Minimal Las Vegas has minimal risk of severe winds over the next 30 years Heat Factor - Severe 94% of properties are at severe risk of heat over the next 30 years 1% of properties are at risk of severe flooding over the next 30 years34% of properties are at risk of wildfire over the next 30 yearsLas Vegas has minimal risk of severe winds over the next 30 years94% of properties are at severe risk of heat over the next 30 years Post-Pandemic Stabilization in the Las Vegas Rental Market The Las Vegas rental market is returning to stability after a pandemic-driven surge in prices. During the pandemic, low interest rates and increased demand for larger living spaces caused rents and home prices to spike. Now, as the market normalizes, prices are aligning closer to pre-pandemic levels. Despite this correction, Las Vegas remains a strong housing market with growth potential and relative affordability compared to other major cities. The Future of Property Management in Las Vegas Looking ahead, with continued population growth and a robust real estate market, the demand for professional property management services is expected to rise. Companies like Home365 are well-positioned to meet this demand by offering comprehensive services that cater to both property owners and tenants. As the city continues to evolve, so too will the strategies and technologies employed by property managers. Whether you're an investor looking to maximize your returns or a resident seeking quality rental options, understanding the nuances of the Las Vegas property market is key to success. Seeking transparent property management that safeguards your profits? Get a quote for your single-family rental in under 60 seconds. --- > Learn how innovative solutions bring transparency, efficiency, and profitability to property owners. - Published: 2024-07-22 - Modified: 2024-07-22 - URL: https://www.home365.co/general-knowledge/property-management/technological-advancements-in-property-management/ - Categories: Property management Learn how innovative solutions bring transparency, efficiency, and profitability to property owners. The Evolution of Property Management Property management has come a long way from the days of manual paperwork and face-to-face interactions. Traditionally, managing a property involved a lot of legwork, from collecting rent in person to handling maintenance issues with phone calls and visits. These methods, while effective in their time, were prone to inefficiencies and errors. Today, technology has revolutionized every aspect of our lives, and property management is no exception. At Home365, we are at the forefront of this transformation, leveraging cutting-edge technology to modernize property management. The Rise of Proptech Investments In recent years, the proptech sector has seen significant capital inflows, reflecting a strong belief in its potential to transform the real estate industry. In 2023 alone, proptech investments totaled $11. 38 billion. This substantial funding highlights the industry's shift towards innovation and efficiency, aiming to address the longstanding inefficiencies of traditional property management . Challenges of Traditional Property Management Despite advancements in many sectors, property management has lagged behind. Many companies still operate with limited transparency and outdated methods, frustrating homeowners and tenants. The traditional model is rife with problems such as:Lack of Transparency: Homeowners often find it difficult to get clear, up-to-date information about their properties. Inefficiency: Manual processes and paperwork lead to delays and mistakes, costing time and money. Unreliable Service: Many property managers fail to meet expectations, leaving homeowners dissatisfied and financially strained. These issues highlight the urgent need for a more modern approach to property management, one that embraces technological advancements to meet the demands of today's property owners and tenants. More from our blog: Why Hire a Property Manager? Leveraging the Gig Economy for Quality and Cost-Effective Property Management In recent years, the gig economy has transformed numerous industries, providing flexibility, efficiency, and cost savings. Companies like Uber and Instacart have revolutionized transportation and grocery delivery by leveraging technology to connect service providers with customers quickly and efficiently. In 2022, the gig economy generated $204 billion in gross volume globally, with platforms enabling millions of workers to offer services on-demand . The property management sector is no exception. At Home365, we utilize gig economy technology to revolutionize vendor management. Our platform connects property owners with a network of vetted professionals and on-the-go task managers who are ready to respond to maintenance requests promptly. This approach ensures that we can provide high-quality services at competitive prices, similar to how gig economy platforms have optimized other service-based industries. Home365’s Vendor Management Benefits: Quality Assurance: We select vendors based on their performance history, ensuring consistently high-quality service. Cost-Effectiveness: Competitive bidding among vendors helps keep costs low, with savings passed on to property owners. Efficiency: Our technology streamlines the maintenance process, minimizing downtime and addressing issues quickly and effectively. By leveraging gig economy principles, Home365 offers a modern, efficient, and cost-effective property management solution that meets the needs of today’s property owners and tenants. Innovation is the key to unlocking new opportunities and driving growth Satya Nadella, CEO of Microsoft Reference Leveraging Technology for Transparent and Efficient Property Management In today's digital age, technology is essential for creating transparent and efficient property management solutions. Our owner portal leverages advanced technology to provide homeowners with a seamless and transparent experience. Unlike other companies that charge extra for technology, our software is included in our service. Key features include:Real-Time Performance Tracking: Homeowners can monitor the performance of their properties, with access to detailed financial reports and analytics. Direct Communication: The portal allows for easy and direct communication with property managers, ensuring that any issues are addressed promptly and efficiently. Comprehensive Reports: From rent collection to maintenance expenses, homeowners can view all aspects of their property's financial health in one place. Document Management: All important documents, such as lease agreements and inspection reports, are stored securely and are easily accessible. Our tenant portal enhances the rental experience by offering a range of convenient features:Online Rent Payment: Tenants can pay their rent online securely and set up automatic payments to avoid late fees. Maintenance Reporting: Tenants can report maintenance issues through the portal, uploading images and videos to provide a clear understanding of the problem. This allows property managers and vendors to address issues more effectively. Communication: Tenants can communicate with their property managers directly through the portal, ensuring that any concerns are resolved quickly and efficiently. Home365 handles maintenance and repairs with a focus on transparency and efficiency. Our system allows for:Preventative Maintenance: Regular checks and maintenance help prevent issues before they become serious problems, saving time and money. Bid Approval: Homeowners can approve bids from our vetted experts, ensuring that they are comfortable with the proposed costs and solutions. Video Documentation: Vendors upload videos of the work before and after completion, providing clear evidence of the work done. Additionally, our transparent financial reporting keeps homeowners informed about all aspects of their property’s financial health, from income and expenses to maintenance costs. By integrating these technologies, Home365 not only improves the property management process but also enhances the overall experience for both homeowners and tenants. Our commitment to leveraging technology ensures that we provide a service that is transparent, reliable, and predictable. Leveraging AI and Machine Learning for Financial Security Machine learning (ML) and artificial intelligence (AI) are revolutionizing various industries by enabling new business models and enhancing efficiency. For example, in healthcare, AI-driven tools can predict patient diagnoses and personalize treatment plans, which has led to improved patient outcomes and reduced costs. According to a 2020 report, AI applications in healthcare could save the industry $150 billion annually by 2026 . In finance, AI and ML algorithms are used for risk management and fraud detection. Companies like PayPal and Mastercard employ AI to analyze transaction patterns and detect anomalies, reducing fraud losses by billions of dollars each year. AI-driven fraud detection systems can reduce false positives by up to 50%, allowing businesses to save significant amounts of money and resources . These advancements in AI and ML are not limited to healthcare and finance. The property management industry is also leveraging these technologies to create innovative solutions that provide financial security and predictability for property owners. Home365’s Profit Protect Plan: By incorporating AI and ML into our property management solutions, Home365 offers a comprehensive plan that provides homeowners with peace of mind. This innovative approach ensures that investments are protected from common financial risks, mirroring the transformative impact AI and ML have had in other industries. This model effectively enables us to act like your partner, with an interest in maintaining the property in good condition because we cover the costs if issues arise. Guaranteed Rent Payments: We ensure that homeowners receive their rent even if a tenant is delinquent or the property is vacant. Wear and Tear Coverage: The plan includes coverage for repairs due to normal wear and tear, keeping homeowners' profits stable. Fee Coverage: We cover fees associated with leasing, evictions, and delinquencies, excluding third-party legal fees. Transforming Property Management with Home365 Home365 is at the forefront of transforming property management through innovative technology. By addressing the inefficiencies and lack of transparency in traditional property management, we provide a service that is more predictable, transparent, and profitable for homeowners. Our mission-driven solutions, combined with our commitment to leveraging technology, ensure that we meet the evolving needs of property owners and tenants in today’s digital age. More from our blog: What to Know When Choosing a Rental Investment Property Experience the Home365 Difference Ready to transform your property management experience? Discover how Home365’s innovative solutions can bring transparency, predictability, and profitability to your property portfolio. Contact us today to get started and see the difference that cutting-edge technology can make in managing your properties. Get a quote in 60 seconds --- - Published: 2024-07-04 - Modified: 2024-07-04 - URL: https://www.home365.co/general-knowledge/property-management/property-management-101/ - Categories: Property management What is Property Management Property management is the operation, control, maintenance, and oversight of real estate and physical property. This can include residential, commercial, and land real estate. Property management involves managing the personal property, equipment, tooling, and physical capital assets that are acquired and used to build, repair, and maintain end item deliverables. The role of a property manager is to serve as the intermediary between the owner of the property and the tenants. Types of Property Management Residential Property Management: This type encompasses single-family homes, apartments, and condominiums. Managers handle tasks like tenant screening, lease agreements, rent collection, and maintenance. They ensure that the property is livable and attractive to potential tenants. Commercial Property Management: This includes office buildings, retail spaces, and industrial properties. Managers focus on maintaining the facilities, negotiating leases, and ensuring compliance with commercial regulations. The goal is to create a productive environment for businesses. Special Purpose Property Management: This category involves managing properties with unique functions, such as schools, hospitals, and government buildings. The management of these properties requires specialized knowledge to meet specific operational needs. Roles and Responsibilities A property manager or property management company handles a wide range of responsibilities to ensure the smooth operation of a property. Tenant Management Property managers are responsible for finding and retaining tenants. This involves marketing the property, conducting background checks, drafting lease agreements, and addressing tenant concerns. Maintaining good tenant relationships is crucial for long-term occupancy and property profitability. Maintenance and Repairs Regular upkeep and prompt repairs are essential to preserving property value and ensuring tenant satisfaction. Property managers coordinate routine maintenance, emergency repairs, and upgrades. This proactive approach helps prevent major issues and costly repairs in the future. Financial Management Managers oversee the financial aspects of property operations, including rent collection, budgeting, and financial reporting. They ensure that the property generates sufficient income to cover expenses and provide a return on investment. Effective financial management includes planning for future expenses and setting aside reserves for unexpected costs. Legal Compliance Property managers must ensure that properties comply with local, state, and federal laws. This includes adherence to building codes, health and safety regulations, and landlord-tenant laws. Staying updated on legal requirements helps avoid fines and legal disputes. Benefits of Professional Property Management Efficiency: Professional property managers streamline operations, making it easier to manage multiple properties or complex portfolios. Their expertise in handling day-to-day tasks in a timely manner ensures that everything runs smoothly, from tenant communication to maintenance scheduling. Tenant Satisfaction: Happy tenants are more likely to renew their leases and take better care of the property. Professional managers provide prompt responses to maintenance requests and create a positive living environment, leading to higher tenant retention rates. Legal Protection: Property managers ensure that all aspects of property management comply with relevant laws and regulations. This reduces the risk of legal issues and protects property owners from potential liabilities. Maximized Returns: Effective property management can lead to higher rental income and property value. By maintaining the property well and selecting reliable tenants, managers help maximize the return on investment for property owners and help them grow their portfolio effectively. How Much Does a Property Manager Cost/Charge The cost of hiring a property manager or property management company varies based on several factors, including the type and size of the property, the location, and the range of services provided. Typically, property managers charge a percentage of the monthly rental income, which can range from 8% to 12% for residential properties. Additional fees may apply for services such as tenant placement, maintenance, and legal compliance. It is important for property owners to understand the fee structure and what services are included to make an informed decision. As of 2022, there are 310,250 property managers in the United States. California is the state that has the largest number of property managers, approximately 30% of the total. (source) How to Become a Property Manager Becoming a property manager requires a combination of education, experience, and skills. Here are the general steps to pursue a career in property management: Education: Obtain a high school diploma or equivalent. While a college degree is not always required, a degree in business administration, real estate, or a related field can be beneficial. Experience: Gain experience in real estate or property management. This can include working as a leasing agent, real estate agent, or in another related role. Licensing and Certification: Some states require property managers to hold a real estate license or property management certification. Check the requirements in your state and obtain the necessary credentials. Skills Development: Develop essential skills such as communication, organization, financial management, and customer service. These skills are crucial for effectively managing properties and tenant relationships. Join Professional Organizations: Joining professional organizations such as the National Association of Residential Property Managers (NARPM) or the Institute of Real Estate Management (IREM) can provide valuable networking opportunities and resources. What Makes a Property Management Company Great A great property management company stands out for its commitment to excellence and customer satisfaction. Key qualities to look for include: Experience and Expertise: A proven track record of managing similar properties and a deep understanding of the local real estate market. Comprehensive Services: Offering a wide range of services, from tenant screening and leasing to maintenance and financial management. Communication: Clear and consistent communication with property owners and tenants, ensuring transparency and trust. Technology: Utilizing advanced property management software and tools to streamline operations and provide real-time updates. Customer Service: Providing exceptional service to tenants and property owners, promptly addressing concerns and maintaining positive relationships. Does a Property Management Need a License The licensing requirements for property management vary by state. In many states, property managers are required to hold a real estate broker's license or a property management license. These licenses ensure that property managers have the necessary knowledge and skills to perform their duties legally and ethically. Some states also require property managers to complete continuing education courses to maintain their licenses. It is important for property owners to verify that their property manager holds the appropriate licenses and certifications to ensure compliance with state regulations. Property Management with Home365 Home365 offers a comprehensive property management solution designed to minimize hassle and maximize profitability for property owners. Our services are tailored to meet the unique needs of each property, ensuring efficient and effective management. Profit Protection: Our Profit Protection plan covers routine repairs, turnovers, and other operational costs, providing peace of mind to property owners. This plan ensures that unexpected expenses do not affect your rental income. Owner Portal: The Home365 Owner Portal provides complete transparency with real-time updates on property performance, financials, and maintenance activities. Owners can access all necessary information from anywhere, at any time. https://www. youtube. com/watch? v=7ilawd_pAlM Tenant Management: We conduct thorough background checks to ensure that only reliable tenants occupy your properties for an extensive period of time. Our tenant portal facilitates streamlined communication, making it easy for tenants to submit maintenance requests and stay informed about property updates. Maintenance: Home365 takes a proactive approach to maintenance with regular inspections and preventive measures. This helps prevent major issues and reduces the need for costly repairs. Our network of trusted contractors ensures that all maintenance work is performed to high standards. Choosing the Right Plan Home365 offers two main plans to suit different property management needs: Profit Protect Plan: This plan guarantees rent and covers most operational costs, providing a steady and predictable income stream for property owners. It is ideal for those who want a hands-off approach to property management while ensuring maximum returns. Property Management Plan: This plan is a cost-effective solution that includes essential property management services. It is perfect for owners who prefer to pay for services as needed, allowing for greater flexibility and control over management expenses. Not sure which plan is right for you? Get a quote in minutes Conclusion Effective property management is crucial for maintaining and maximizing the value of real estate investments. Professional property managers bring expertise, efficiency, and peace of mind to property owners, ensuring that properties are well-managed and profitable. Home365's innovative solutions offer a hassle-free experience, tailored to the unique needs of each property. Our Profit Protect plan, Owner Portal, and comprehensive tenant and maintenance management services provide the perfect blend of convenience and effectiveness. For more information on how Home365 can help manage your property click here. Whether you own a single-family home or a portfolio of properties, our team is dedicated to providing top-notch property management services that maximize your investment returns and minimize your stress. --- - Published: 2024-04-25 - Modified: 2024-04-25 - URL: https://www.home365.co/general-knowledge/real-estate-investing/scale-your-real-estate-portfolio-with-confidence/ - Categories: Real estate investing Building a successful real estate portfolio is an exciting journey. But as your portfolio grows, so do the complexities of managing it. Finding good tenants, ensuring on-going maintenance, and mitigating financial risks can quickly become a full-time job, hindering your ability to scale further. At Home365, we understand that real estate portfolio growth is all about confidence. That's why we've developed a comprehensive property management tech solution designed to empower investors to achieve financial predictability and peace of mind. In this post, we'll delve into how Home365 simplifies every step of the property management process, allowing you to focus on what truly matters: scaling your real estate portfolio and achieving your long-term investment goals. Finding Tenants Who Make You Feel Secure The foundation of any successful real estate portfolio lies in securing reliable tenants who pay rent on time and take care of your property. Home365 takes the guesswork out of tenant placement with a suite of features designed to streamline the process and minimize vacancy periods. Vacancy Management: We leverage data-driven analytics to identify optimal rental rates and craft compelling listings that attract qualified tenants. Our platform streamlines the showing process, allowing you to efficiently screen potential renters. Tenant Screening and Selection: Our rigorous screening process evaluates creditworthiness, rental history, and employment to ensure you get the best possible tenants for your properties. This translates into financial predictability for you – less risk of late payments or evictions, and more time to focus on scaling your real estate portfolio. Rental Rate Calculation: Gone are the days of guesswork when it comes to setting rent. Our advanced algorithms analyze market trends and comparable properties to ensure you're maximizing your return on investment while attracting high-quality tenants. This data-driven approach fosters financial predictability, allowing you to confidently plan for future portfolio acquisitions. By handling the heavy lifting of tenant acquisition and screening, Home365 empowers you to build a portfolio of reliable tenants who contribute to the long-term success of your real estate investments. Streamlined Management for Peace of Mind Managing multiple properties can quickly become overwhelming. Home365 offers a comprehensive suite of tools to simplify day-to-day operations and free up your valuable time. Rent Collection via the Portal: Our secure online portal allows tenants to pay rent online, ensuring on-time payments and eliminating the hassle of chasing late fees. This translates into financial predictability – a steady stream of income that fuels your real estate portfolio growth. Tenant Management: From lease agreements and maintenance requests to communication tools, our platform provides everything you need to manage your tenant relationships effectively. This streamlined approach frees up your time, allowing you to focus on scaling your real estate portfolio with confidence. Overseeing Maintenance & Repairs: Our platform simplifies the maintenance process by facilitating communication with vendors and keeping track of repair requests. We have a network of pre-vetted repair professionals to ensure your properties are well-maintained, minimizing downtime and maximizing tenant satisfaction. This proactive approach reduces the financial risks associated with unexpected repairs, allowing you to scale your real estate portfolio with predictability. Transparent Financial Reporting: Gain instant access to detailed financial reports that track income, expenses, and property performance metrics. This level of transparency empowers you to make informed decisions about your real estate portfolio and identify opportunities for further growth. With Home365 handling the day-to-day headaches of property management, you can focus on the strategic decisions that propel your real estate portfolio forward. Safeguard Your Investment with Comprehensive Coverage Building a strategic real estate portfolio, as explored in our previous blog post, is a powerful path to securing your family's future. However, even the most strategic plans encounter inherent risks. Vacancies lead to lost income, unexpected repairs can drain your budget, and tenant turnover disrupts your cash flow. At Home365, we believe in mitigating these risks to empower your financial security and fuel your portfolio's growth. You can learn more about it in this short video. Rent Guaranteed: Experience peace of mind knowing your rental income is secure, even during vacancy periods. Our rent guarantee program ensures you receive a consistent monthly payment, regardless of tenant occupancy. This financial predictability allows you to confidently plan for future real estate acquisitions. Repairs & Maintenance Coverage: Our coverage plans safeguard you from the burden of unexpected repairs. Should an issue arise, we'll handle the cost of repairs, minimizing the financial impact and ensuring your properties remain in top condition. This proactive approach protects your investment and fosters long-term tenant satisfaction, reducing turnover rates and vacancy periods. Tenant Turnover Costs: The process of finding new tenants can be expensive. Our streamlined tenant placement process minimizes vacancy periods and reduces the associated costs. Additionally, our rigorous screening process helps to ensure long-term tenants, further reducing turnover expenses and contributing to the overall financial predictability of your real estate portfolio. Preventative Maintenance: We believe prevention is key. Our platform facilitates the scheduling of preventative maintenance services, helping to identify and address minor issues before they become major problems. This proactive approach minimizes the risk of costly repairs down the road, safeguards the value of your investment properties, and contributes to tenant satisfaction. By mitigating these common risks, Home365 empowers you to build a resilient real estate portfolio with a predictable income stream, allowing you to scale your investments with greater confidence. Scale Your Real Estate Portfolio with Home365 Scaling a real estate portfolio requires confidence. Home365 empowers you to achieve financial predictability by mitigating risks, streamlining operations, and ensuring a steady stream of income from reliable tenants. Ready to unlock the true potential of your real estate portfolio? Get a free proposal online or speak to a Home365 representative today to learn more about our comprehensive property management solutions. Let us handle the complexities of property management, so you can focus on what truly matters – building a secure and successful real estate future. --- - Published: 2024-03-26 - Modified: 2024-03-26 - URL: https://www.home365.co/general-knowledge/real-estate-investing/the-landlord-advantage/ - Categories: Real estate investing Turn Renters into Revenue: How Investment Properties Create Passive Income and Secure Your Family's FutureAs a property management company with extensive experience in real estate, we've seen firsthand the power of strategic investment properties. Real estate offers a unique path to building wealth that transcends generations, benefiting not just the initial investor but their heirs as well. The Allure of Real EstateUnlike stocks or bonds, real estate offers a tangible asset with a historical track record of stability and appreciation. Property values tend to rise over time, increasing your net worth and providing a hedge against inflation. Furthermore, real estate adds valuable diversification to your investment portfolio, reducing overall risk. While the stock market may fluctuate, a well-chosen investment property can offer a more predictable return. Don't forget the potential tax advantages either. Depreciation allows you to deduct a portion of the property's value from your taxes each year, and rental income can be partially offset by mortgage interest deductions (it's always best to consult with a tax professional for specific details). Multiple Avenues to Wealth CreationStrategic investment properties unlock multiple avenues for wealth creation. Investment properties can generate steady cash flow through rental income, creating a passive income stream that supplements your primary income or even allows you to achieve financial independence over time. Imagine the peace of mind that comes with knowing your properties are working for you, even while you sleep! Appreciation is another powerful wealth-building tool. As mentioned earlier, property values tend to rise over time. This means that the value of your investment property is likely to increase, potentially generating a significant profit when you eventually sell. Leverage is a unique advantage offered by real estate. Unlike many other investments, you can use a mortgage to control a valuable asset with a smaller down payment. This allows you to leverage your investment and potentially see a much larger return. For example, a 20% down payment on a $100,000 investment property could result in a $50,000 gain if the property value appreciates by 50%. Building Wealth for GenerationsReal estate isn't just about building wealth for yourself; it's about creating a lasting legacy for your heirs. Investment properties can be a cornerstone of a solid estate plan. Passing down property to your children or grandchildren offers several benefits. They can continue to enjoy the passive income stream generated by the rental property, and they'll also inherit a valuable asset that has likely appreciated in value over time. Many tax breaks are also available when inheriting real estate, further increasing the benefits for future generations. For even more sophisticated wealth distribution strategies, consider consulting with a financial advisor about family investment vehicles like Real Estate Investment Trusts (REITs) or family LLCs for holding investment properties. These structures can facilitate shared ownership and ensure a smooth transition of wealth across generations. The Power of a Diversified PortfolioBuilding a strong portfolio doesn't rely solely on individual properties. Investment properties, when strategically chosen and managed alongside other assets, can create a well-rounded financial picture. Consider including a mix of investment properties in different locations and property types to spread risk and maximize potential returns. Peace of Mind for Your Investment JourneyBuilding generational wealth for future generations is key, but managing investment properties can be a demanding task. Unexpected costs and day-to-day hassles can quickly eat into your profits and time. Home365 offers a comprehensive solution. We manage your investment properties, ensuring they are well-maintained and tenanted with qualified renters. We also provide coverage for rent loss and maintenance costs, giving you peace of mind and allowing you to focus on the things that matter most. Get a customized quote today and let us help you unlock the wealth-building potential of investment properties, while ensuring your investment journey is smooth and hassle-free. --- - Published: 2024-02-29 - Modified: 2024-02-29 - URL: https://www.home365.co/growth-markets/atlanta/demystifying-atlanta-tenant-laws/ - Categories: Atlanta Owning rental property in Atlanta can be a rewarding experience. However, navigating the intricate web of tenant laws can feel daunting, especially for new landlords embarking on their property management journey in Atlanta. This is where Property Management Atlanta professionals can come in handy. Let's dive into the essential tenant laws you need to know as an Atlanta landlord, laying the foundation for a successful and compliant property management endeavor in Atlanta. Understanding Fair Housing: The Ground RulesFirst things first, fair housing sets the foundation for respectful landlord-tenant relationships. This federal law prohibits discrimination based on protected characteristics like race, religion, gender, and disability. Staying informed about Fair Housing Act updates and Atlanta's local ordinances is crucial to ensure ethical and legally compliant practices, safeguarding your property management in Atlanta from potential legal troubles. Security Deposits: Building Trust and TransparencySecurity deposits are common, but their handling is regulated. Georgia law caps the maximum deposit amount, and you have specific responsibilities regarding deductions and return timelines. Clear communication and detailed records are key to building trust and avoiding disputes with tenants, fostering a healthy relationship that benefits both parties and strengthens your property management in Atlanta. Maintenance and Repairs: Keeping Your Property HabitableAs a landlord, you're responsible for maintaining a habitable dwelling according to Georgia state law and Atlanta city ordinances. This includes essential components like plumbing, heating, and electrical systems. Be responsive to repair requests and understand tenant rights regarding repairs and withholding rent. Proactive maintenance not only ensures legal compliance but also attracts and retains quality tenants, contributing to the success of your property management in Atlanta. Consider partnering with a Property Management Atlanta company for expert maintenance services. Rent Payments and Late Fees: Setting Clear ExpectationsTimely rent payments are crucial for your investment's success. Clearly outline accepted payment methods and late fee policies in your lease agreement. Remember, Georgia law limits the amount you can charge as a late fee. Open communication and fair practices go a long way in fostering positive tenant relationships, laying the groundwork for smooth and predictable income streams in your property management in Atlanta. Navigating Evictions: When All Else FailsWhile evictions are a last resort, understanding the legal process is essential. Know the grounds for eviction in Atlanta and adhere to proper notice requirements. Seek professional legal advice if you encounter complex situations or potential violations. Remember, prevention is key. Thorough tenant screening and clear communication often offered by Property Management Atlanta companies, can help avoid eviction situations altogether, streamlining your property management in Atlanta. Beyond the Basics: Staying Informed and EmpoweredRemember, these are just the highlights. Atlanta has additional regulations regarding noise ordinances, pet restrictions, and occupancy limits. Explore the City of Atlanta's website and connect with local landlord associations to stay updated on relevant regulations, ensuring your property management in Atlanta operates within the legal framework. Partnering for Success: Consider property Management in AtlantaManaging rental properties can be demanding. If you value convenience and peace of mind, consider partnering with a reputable property management company in Atlanta like Home365. We offer transparent pricing, expert tenant screening, and comprehensive maintenance services to take the pressure off your shoulders, allowing you to focus on the bigger picture of your investment. Investing in rental property in Atlanta can be a smart move, but understanding tenant laws is key to success. Embrace transparency, stay informed, and consider partnering with professionals to navigate the journey with confidence. Let's build a vibrant and responsible rental community in Atlanta, together! Remember, a successful and sustainable property management journey in Atlanta starts with a firm grasp of tenant laws. This blog post serves as a stepping stone, but don't hesitate to seek professional guidance for specific situations. Unlock your property's passive income potential --- - Published: 2023-12-29 - Modified: 2024-02-04 - URL: https://www.home365.co/general-knowledge/property-management/why-hire-a-property-manager/ - Categories: Property management Imagine renting out your home without managing tenants, doing repairs or worrying about vacancies, all while reaping a steady income from your property. When you hire a property manager, you can enjoy the rewards without the hard work. Home365 has removed the stress of property management for many owners through our hands-on approach — we can help you manage your property hassle-free. What Are a Property Manager's Responsibilities? An adept property manager can whisk away the laborious tasks and stressors that come with managing your property. The responsibilities and benefits of a property manager are vast. A top-notch property manager will: Keep Tenants Satisfied If your tenants feel right at home in your house, they might renew their lease — happy tenants decrease turnover. Hiring a masterful property manager ensures tenants have someone readily available to meet their needs. A first-rate property manager will provide prompt repairs and an easy way for tenants to pay rent. Secure Well-Suited Tenants You can rely on a property manager's screening process to find fitting tenants for your home. A property manager maestro will do credit and background checks and review the rental history of potential tenants. Well-matched tenants are likelier to perform a renter's duties smoothly. Care for Your Property Property managers will conduct routine inspections to address maintenance issues and schedule needed repairs. By managing your maintenance, they minimize the wear and tear on your property and maintain its value. Secure a Steady Income Because property managers keep tenants happier and choose well-suited renters, you are more likely to receive a steady income from your property. Why Do Owners Hire a Property Manager? Most homeowners reap a multitude of rewards after hiring a fine property manager. Involving a manager might be especially beneficial if you: Have too many properties to take care of. Live far away from your properties. Don't want to be a hands-on manager. Have limited time. Find management overwhelming. How Involved Are Owners in the Managing Process? By familiarizing yourself with a property manager's duties, you can let go of the rails knowing your manager will care for your property and tenants from top to bottom. This hands-on approach requires minimal owner involvement. In the wake of a crisis, when immediate action is necessary to avoid property damage and tenant injuries, you might need to step into a management role temporarily. But you only need to concern yourself with management issues in an emergency. If you prefer more involvement, you'll want to establish this with your property manager immediately, ensuring all parties know their responsibilities so no managerial tasks fall through the cracks. Why Choose Home365? Home365 wants you to make a profit from your property. With our years of experience and cutting-edge technology, we can predict your property's needs — ensuring you don't lose money on unexpected repairs and listing and advertising fees. We can offer you: A guaranteed income: If your tenant misses a month's rent, we will pay you instead. You also don't need to worry about rental turnover. No matter what happens, you will always receive your rent. No unforeseen costs: You don't need to pay for that leaking roof or plumbing issue, as we will cover all unanticipated costs, proactive maintenance tasks and routine repairs. Excellent online coordination: Stay in the loop by viewing your property's condition, project history and all statements with our advanced software. We coordinate your projects through our property management platform and use our software to meet your tenants' needs. Renters have 24/7 access to Home365, and we help them promptly to keep them happy. Quality property protection: With our preventative inspection system, you can rest assured we will promptly take care of any maintenance issues and maintain the value of your house. Let's Make Your Property Management Stress-Free Home365 is equipped to do the heavy lifting — we will manage your property and ensure you get a steady income. Ready for hassle-free property management? Get a free quote today! --- - Published: 2023-12-29 - Modified: 2024-02-04 - URL: https://www.home365.co/general-knowledge/real-estate-investing/what-to-know-when-choosing-a-rental-investment-property/ - Categories: Real estate investing Deciding to invest in a rental property can be a profitable and exciting move to make — but it requires some research beforehand. It's crucial to do your homework and ensure you have a clear picture of what a rental property will cost you overall. As you conduct research and view different properties, consider the following: 1. Your Budget First, you need to determine how much you can afford. Buying a rental property involves many costs, including the down payment, closing costs and property taxes. Fortunately, you don't need all the funds sitting in an account to get started. Many types of lenders are available to help you finance your investment property. It's important to research different lenders and mortgage options to find the best fit for you. The Nationwide Multi-State Licensing System lists licensed brokers, so this can be a good place to start your search for reputable lenders. Once you know how much you need to borrow, you can set a budget. 2. The Location Get to know the location you're thinking about buying a property in. Knowing your location will help you determine how much rent you can charge, who you'll want to target as potential tenants, and if it's a promising area. Find out about details such as: Local demographics Neighborhood crime, schools and amenities The number of vacant rentals How quickly other homes sell in the area What other similar properties are charging for rent 3. The Property's Condition The purpose of your investment is to bring in a profit. Ideally, you'll want to find a property in excellent condition so you won't need to make repairs and can attract tenants immediately. If a property needs some care before you can rent it out, consider if it's financially feasible for you to fix — and if you're confident it's worth it. As you view various homes, look for red flags like signs of mold. Mold can cause health issues, damage building materials and be expensive to remove. Check for things like: Water stains on the walls Spongy flooring Musty odor Water on the basement floor If a home needs some work and you're still interested, you may be eligible for a low-interest home repair loan to get it tenant-ready. 4. The Housing Market Timing should also be a factor in your decision to purchase an investment property. You'll want to buy when the time is right — typically when home prices are dipping. Pay attention to real estate news and get to know the housing market in your area, as every location is different. 5. How You'll Manage the Property As a landlord, you'll have many responsibilities. These include maintaining the property's grounds and making repairs in accordance with tenant laws. Before investing in a property, think about how you'll manage it and whether it's better to have a property management company handle these responsibilities for you. Let Home365 Help You Achieve Your Investment Dreams If you've been dreaming of investing in a rental property but feel overwhelmed by the management aspect, know that you have options. Consider partnering with a dependable property management company like Home365. At Home365, we provide transparent pricing and make rental management hassle-free for property owners. Learn more about our property management plans, or contact us for a quote. --- > A reliable way to build wealth with minimal effort is through passive real estate investing. Learn more about what it is and how to get started! - Published: 2023-10-16 - Modified: 2023-10-16 - URL: https://www.home365.co/general-knowledge/guide-to-passive-real-estate-investing/ - Categories: Real estate investing, General Knowledge While real estate investing offers the opportunity to build wealth, many individuals don't have the time or desire to oversee all aspects of managing multiple properties at once. Passive real estate investing provides a way for investors to participate in a real estate venture and build wealth without having to manage all of the day-to-day operations. What Is Passive Real Estate Investing? With passive real estate, you'll make an upfront capital investment, receive an ownership stake and then receive dividends from the investment. Here are three ways you can passively invest in real estate: Real estate investment trusts (REITs): A real estate investment trust, or REIT, is a relatively low-risk way to acquire, maintain and finance real estate. REITs operate as trusts and provide an extremely liquid way to invest in multiple real estate asset types like multifamily and industrial. Real estate funds: Compared to REITs, real estate funds are a much broader form of mutual funds and are designed to be more of a long-term investment strategy. The shares are usually highly liquid and the funds can be invested in properties ranging from commercial real estate to public real estate securities. Crowdfunding: With crowdfunding, you can start investing with less capital because you'll be pooling your resources with other investors. This method allows you to diversify your investments and own more properties than you'd be able to on your own. What Are the Advantages of Passive Real Estate Investing? No matter what type you decide would work best for you, investing passively means you'll be able to enjoy the benefits of real estate investing — without the time constraints and stress. Here are some of the main advantages: Stable cash flow: Especially with investments like REITs, you can expect a stable cash flow for many years to come. This form of investing offers regular distributions to investors based on rental income. Diversification: Because you'll be pooling your capital with other investors, there are more opportunities for diversification with passive real estate investing. Along with being able to develop a portfolio with properties across different sectors and geographical locations, you'll be diversifying your risk. Professional property management services: From handling tenant management to maintenance requests, professional property management services provide a way to relieve investors of all the burdensome tasks associated with keeping a property profitable. You'll be able to focus on your core activities while professional property managers look after your investment. Why Choose Home365? At Home365, we are committed to making property management and real estate investing easy. Whether you choose an option like REITs, real estate funds or crowdfunding, you'll be able to take advantage of our industry expertise and streamlined process. With our available technology, you'll be equipped to participate in the real estate market and build wealth — with minimal effort. We provide comprehensive property management solutions like rent collection, tenant screening and 24/7 customer support so you can maximize returns on your real estate investments. Learn More About How You Can Enhance Your Passive Investing Experience We encourage you to get a free quote today to learn more about how Home365 can help you achieve your goals and start capitalizing on the benefits of passive real estate investing. Philadelphia Investment Properties --- > Managing tenant turnover is an essential aspect of making property rentals profitable. Learn more about tenant turnover, the ideal rate and how to reduce it. - Published: 2023-10-16 - Modified: 2023-11-13 - URL: https://www.home365.co/general-knowledge/proven-strategies-to-improve-tenant-rentention/ - Categories: General Knowledge Jump to:Expenses of Tenant TurnoverWays to Improve Tenant Turnover As a real estate investor or property management company, it's crucial to monitor tenant retention rates. Being able to maintain high-quality residents is key to long-term success. What Is Tenant Turnover? Your tenant turnover rate measures the number of tenants who have vacated your property within a specific period of time. To determine your rate, divide the number of tenants that moved out over 12 months by the total number of tenants you've had on your property during that same time period. Then, multiply that result by 100. A good turnover rate in real estate is around 70%. This rate matters because high resident retention leads to:Lower vacancy rates. Sustained profitability. Increased property value. Overall, the more satisfied your tenants are, the more likely they are to stay, increasing your lease renewals and improving profitability. Expenses of Tenant TurnoverTenant turnover is a process that can create large expenses for your property rental business. The uncertain time period it takes to find a new tenant for a specific rental unit can bring along several costs that you might not always expect. If you identify these potential costs ahead of time, you can better prepare for them as a landlord or property owner. Cleaning expenses: A major and immediate expense after a vacancy is deep cleaning. Even if a tenant does his or her best to keep the rental unit clean, there are going to be some areas of improvement or some spots they might have missed. Also, you will need to keep the unit in pristine condition for any demonstration. Hiring a cleaning contractor to conduct a deep clean can be expensive, particularly for a long period of time, so keep this in mind. Repair & maintenance costs: Just as you need to keep the rental unit clean, it should also stay free from any potential damage. Even the best tenants may cause some minor bumps or scratches in the walls, floors, or other parts of the house. Alternatively, tenant turnover is a great opportunity to conduct any repair and maintenance to the unit, since the place will be empty, and it will not inconvenience anyone. Either way, expect to spend a significant amount of money on both repair and maintenance for the property. Paperwork and administrative costs: Vacancy turnover also creates plenty of paperwork, and along with it, more costs. Move-out paperwork, lease agreements, document processing, and applicant screening will cause photocopying, printing, and processing expenses. Consider turning to electronic paperwork, if possible. Lack of income: The vacancy of the property doesn’t just cost you money on cleaning and maintenance, but it will also take away from your rental income. You will not have the usual funds you receive from rent collection until a new tenant moves in. This might not be as impactful if you own a larger apartment building or a multifamily complex. However, owning a single-family property or smaller multiunit operations will make the lack of income more noticeable and impactful. Property demonstration: Whether you are a more involved landlord or prefer to keep matters at bay, showing off the property for any potential tenants will cost you a considerable amount of time, resources, and money. You or the property manager may have to drive back and forth to show the property to the potential tenant, which can also create expenses for the tenant. You must also consider the expenses for listing the property. If you demonstrate the rental unit to the tenant, and the tenant refuses, it will only mean the process was a bigger time and money sink than necessary. Make arrangements for these possibilities, and if possible, consider holding online demonstrations. 10 Ways to Improve Tenant RetentionThe following are some of the best ways to reduce your tenant turnover rate:Set a yearly residential retention budget: Planning an annual resident retention budget provides the opportunity to invest wisely in retention initiatives like community events, maintenance improvements and resident appreciation programs. Host events to create a community: You can foster connections among residents and enhance their sense of belonging through community events. Occasions like shared interest gatherings, scheduled activities and holiday celebrations will draw residents together and build community spirit. Immediately address maintenance requests: Measures like acknowledging tenant requests, providing estimated repair timelines and communicating updates ensure residents feel heard and enhance the overall resident experience. Provide convenient access channels: Make it easy for tenants to get in touch with you. Whether you rely on messaging services, online portals or text messaging, these digital tools will let you connect and build long-term relationships with your residents. Offer resident benefits and incentives: Another way to acknowledge tenants and encourage lease renewals is by implementing a Resident Benefits Package (RBP). You can create value and “reward” tenants by providing them with personalized experiences, community perks like a local gym membership, or discounted or free services like carpet cleanings. Develop a proactive renewal strategy: As tenants reach the end of their lease agreement, begin proactively engaging with them to encourage them to renew their lease. You can do this through lease renewal incentives, personalized offers and flexible terms. Prioritize tenant screening: To ensure you're choosing the right applicants upfront, take the time to thoroughly screen each one by verifying their income and employment and conducting comprehensive background checks. You can also ask for references to get more information. Enhance property maintenance and upgrades: The better your property looks, the more likely tenants will be satisfied and want to continue renewing their leases. By performing regular property inspections, keeping up with proactive maintenance and doing strategic upgrades, you'll meet your residents' expectations. Foster positive tenant-landlord relationships: By prioritizing prompt, effective communication and delivering exceptional customer service, you'll be able to build strong, long-term relationships with your tenants. Implement technology solutions: Technology solutions like tenant portals or online rent payment platforms can enhance your management processes and operational efficiency. Discover Comprehensive Property Management Solutions Collaborating with an experienced property management company can provide the expertise and resources necessary to implement these strategies effectively, benefiting both investors and residents. Contact Home365 today to learn how we can make managing properties easy. Philadelphia Investment Properties --- > Wondering what it's like to live in Atlanta, Georgia? Learn more about this bustling and diverse city and why it's a great place to call home. - Published: 2023-10-16 - Modified: 2024-01-09 - URL: https://www.home365.co/general-knowledge/living-in-atlanta-ga/ - Categories: Atlanta, General Knowledge, Growth Markets Atlanta is both the capital of Georgia and the center of the cultural and economic metropolitan area. In this vibrant city, you'll find a unique blend of friendly locals, diverse cultures and countless recreational activities. Offering the best of the South, Atlanta is an ideal location for those interested in a thriving real estate market or a new place to call home. What Is It Like Living in Atlanta? Atlanta offers unique opportunities and benefits for everyone. Here are a few things to know about living in Atlanta, Georgia. Friendly, Welcoming Locals Even though it's a large, bustling city, Atlanta is known for having friendly, welcoming neighbors. When you visit, you'll likely find yourself being greeted with a friendly smile or nod — no matter if you're at the grocery store, park or shopping center. The warmth is an endearing quality that makes visitors and locals feel embraced by the community. Southern Hospitality Similar to the overall friendly demeanor, Southern hospitality is real and still thriving in Atlanta. Here, you'll be immersed in a culture of politeness, courtesy and genuine care for others. Embrace the warmth and charm and wave back to neighbors or strike up a conversation with a stranger and discover just how hospitable this city actually is. Diverse Culture One of the most notable aspects of Atlanta is how diverse the cultural heritage is. While the city is home to the second-largest Black population in the country, it hosts all kinds of backgrounds, ethnicities and traditions. The city is home to diverse neighborhoods like Little Five Points, Buford Highway and Sweet Auburn, where you'll find an array of customs, languages and cuisines. Millennial City Millennials make up a significant percentage of the population — and that number continues to grow. Young professionals are flocking to this city because of its innovative startup scene, diverse industries and booming job market. Millennials ranging from entrepreneurs to tech enthusiasts thrive here, enjoying an environment that fosters the growth and innovation they need to succeed in their careers. ITP vs. OTPAtlanta is divided between Inside the Perimeter (ITP) and Outside the Perimeter (OTP) regions. These geographical distinctions offer two unique environments and feels. There is a highway encircling the city, which separates these two distinct areas. Inside the Perimeter is the vibrant heart of the city, with its urban energy, cultural attractions and diverse neighborhoods. Meanwhile, Outside the Perimeter, you'll find more of a natural landscape with tranquil communities and spacious homes. Recreational OpportunitiesOne of the biggest benefits of living in Atlanta is all of the recreational opportunities. If you love spending time in the great outdoors, you'll appreciate all of the hiking, mountain biking, trail riding, kayaking and adventure destinations. From climbing up Stone Mountain to floating down the Chattahoochee River, there are many stunning natural wonders to discover and enjoy. Maximize Returns on Your Real Estate Investments With its natural beauty, low cost of living and diverse population, Atlanta, Georgia is one of the best places to live — and there are always people eager to make it their home. At Home365, we make it easy to manage properties and invest in real estate in areas like Atlanta. We provide comprehensive property management solutions and trusted service providers who will help you reach your investment goals. Discover stress-free property management services and get a free quote today to learn more. Atlanta Investment Properties --- > Baltimore, Maryland, is one of the best real estate markets for investors. Learn all you should know about investing in real estate in Baltimore! - Published: 2023-10-16 - Modified: 2023-11-13 - URL: https://www.home365.co/general-knowledge/investing-in-baltimore-real-estate/ - Categories: Baltimore, General Knowledge, Growth Markets Jump to:2023 Baltimore Property Investing Forecasts With its unique qualities and growth potential, Baltimore, Maryland, is one of the best cities to invest in real estate. Here, you'll be able to capitalize on benefits ranging from a diversified real estate portfolio to growth potential. No matter what your goals are, Baltimore offers an array of advantages for real estate investors. Is Baltimore a Good Place to Invest in Real Estate? Wondering if this city is the right location to invest your time, money and effort? Check out six excellent reasons to invest in Baltimore real estate. 1. Small-Town Feel With Elegant ArchitectureBaltimore has a rich history, starting with its founding in 1729. Many of the historic buildings and landmarks have been meticulously preserved over the years, allowing you to step back in time and explore a little of the past everywhere you go. Throughout the city, you'll be able to discover a unique blend of architectural styles, from the row houses in Federal Hill to the vibrant Victorian homes in Hampden. 2. Unique Housing OpportunitiesNo matter what kind of housing you're looking for, you're sure to find it in Baltimore. There are countless diverse neighborhoods that are filled with historic homes with architectural significance as well as modern condominiums and apartments. Along with the range of housing options, investors will be able to choose from different segments of the market, which include various demographics and preferences. 3. World-Class Educational InstitutionsBaltimore is known for its premier educational opportunities, a reputation that draws students, parents, faculty and staff from all around the world — and creates significant demand for rental properties surrounding the campuses. From elementary to high school, there are countless excellent school districts to choose from. There are also several renowned college-level institutions in the area, including Johns Hopkins University, the University of Maryland and Loyola University. 4. Job OpportunitiesWhether you envision yourself in health care, education, government or technology roles, Baltimore offers several major employment centers in the city and the surrounding areas. There are also prominent employers like Amazon's fulfillment centers and the National Security Agency, resulting in a robust job market. 5. Prime East Coast LocationSince Baltimore is located close to major cities like Washington, D. C. , Philadelphia and New York City, you'll be in a prime location for countless excellent business opportunities. You will be able to easily access major cities and markets, allowing you to take advantage of maximized investment returns. 6. Transportation OptionsWith transportation systems that include buses, light rail and a subway system, you'll have endless transportation options available. This extensive transportation infrastructure connects to major highways, which benefits the real estate market in the area. 2023 Baltimore Property Investing ForecastsIn 2022, Baltimore, like many other cities, saw big transitions in Real Estate Investments, and 2023 seems to be heading in the same direction. Baltimore has seen a steady increase of median home prices over the years, and like other cities at the beginning of 2023 it has begun to slow down, but is still more expensive than before. In turn this means an increase in average rent, which is about $1,521. Baltimore’s population is also steady at around 577,000 people and growing, as more young professionals move to the city due to Baltimore’s growing job market. Baltimore’s homes sell for about 40% less than in Washington D. C. , which also makes it an attractive option for those working at the nation’s capital. Baltimore also offers a unique living experience, which is attracting a plethora of people for tourism and permanent living, as it is nicknamed the “City of Neighborhoods”, consisting of hundreds of smaller districts within. All of these factors lead investors to believe the housing market in Baltimore in 2023 will see an increase in demand. However there are always unforeseen events that can impact the forecast for Baltimore in 2023. Interested in Investing in Baltimore Real Estate? At Home365, we provide comprehensive property management solutions to make investing and reaching your wealth-building goals easier than ever. From handling your property maintenance to assisting with rent collection to offering 24/7 customer support, our trusted service providers are here for you when you need us most. Reach out today to learn more and request a free quote. Baltimore Investment Properties --- > Looking for a new place to call home? Learn what Philadelphia has to offer from a strong sports culture to cost of living and more. Read now! - Published: 2023-07-19 - Modified: 2023-07-19 - URL: https://www.home365.co/general-knowledge/reasons-to-move-to-philadelphia/ - Categories: General Knowledge In this article, we invite you to explore the enticing features that make Philadelphia an exceptional place to call home, from its diverse neighborhoods and affordable cost of living to its walkability, sports fervor, culinary delights, and active community engagement. And the best part? Philadelphia's prime location grants you easy access to major East Coast cities, unlocking a world of opportunities. Why Move to Philadelphia? Are you seeking a city that offers a rich tapestry of experiences, a thriving cultural scene, and a vibrant community? Look no further than Philadelphia, Pennsylvania. Known as the City of Brotherly Love, Philadelphia captivates with its unique qualities that extend far beyond the realm of real estate. Neighborhood Diversity Philadelphia is a city of diverse neighborhoods, each with its own distinct character and allure. From the historic cobblestone streets of Old City to the eclectic vibe of Northern Liberties and the picturesque charm of Chestnut Hill, there's a neighborhood for everyone. Whether you seek a vibrant urban setting or a cozy residential enclave, Philadelphia's neighborhood diversity ensures that you'll find the perfect place to call home. Cost of Living One of the most compelling aspects of living in Philadelphia is its affordability compared to other major East Coast cities. The cost of housing, rental rates, and everyday expenses are generally more reasonable, allowing you to stretch your budget further. Enjoy a higher quality of life without sacrificing your financial well-being, making Philadelphia an ideal place to invest in not only real estate but also your overall lifestyle. Walkability and Bike-Friendly Infrastructure Philadelphia is a city designed for exploration on foot or by bicycle. With its grid-like layout, pedestrian-friendly sidewalks, and designated bike lanes, the city encourages a healthy and active lifestyle. Take leisurely strolls along tree-lined streets, explore charming local shops, or embark on a bike ride through scenic parks. Philadelphia's walkability and bike-friendly infrastructure make it a city where the joy of discovery awaits at every corner. Weather Philadelphia experiences distinct seasons, offering a delightful variety of weather throughout the year. From the vibrant colors of spring to the sunny warmth of summer, and the picturesque fall foliage to the cozy charm of winter, each season in Philadelphia brings its own unique beauty. Embrace the changing seasons and savor the diversity of experiences that come with them. Sports Culture Philadelphia's sports culture is legendary. The city's passionate fan base rallies behind teams like the Philadelphia Eagles, Phillies, 76ers, and Flyers, creating an electric atmosphere on game days. As a resident, you'll have the opportunity to immerse yourself in the fervor of live sporting events, forging connections with fellow fans and becoming part of the city's spirited sports community. Dining and Food Scene Prepare your taste buds for a culinary adventure in Philadelphia. The city boasts a dynamic and diverse food scene that goes far beyond its famous cheesesteaks. From innovative farm-to-table restaurants to bustling food markets and ethnic eateries, Philadelphia's dining landscape offers something to satisfy every palate. Explore vibrant neighborhoods like East Passyunk, Fishtown, and University City, and indulge in a gastronomic journey that will leave you craving more. Community Engagement Philadelphia is a city that values community engagement and encourages residents to get involved. Join neighborhood associations, participate in local events and festivals, and volunteer for causes that resonate with you. The city's active community fosters a sense of belonging, creating opportunities to forge lasting connections and contribute to the greater good. Proximity to Major East Coast Cities Living in Philadelphia opens the door to a world of opportunities with its strategic location on the East Coast. Take advantage of the city's proximity to major metropolises like New York City, Washington D. C. , and Boston. Whether it's a weekend getaway, business trip, or cultural excursion, the ease of access to these dynamic cities adds a layer of convenience and expands your horizons. Find Your New Home in Philadelphia with Home 365 At Home 365, we have plenty of rental homes available for families, students, and more. Home 365 manages top-tier properties in Philadelphia that are calling your name. View our available rentals in Philadelphia today! View Philadelphia Rentals --- > Discover the growing potential of Philadelphia real estate investment, including a growing population, historic charm, affordability and more. Read now! - Published: 2023-07-19 - Modified: 2023-09-19 - URL: https://www.home365.co/general-knowledge/why-invest-in-philadelphia-real-estate/ - Categories: Philadelphia, General Knowledge If you’re wondering, “Is Philadelphia a good place to invest in real estate? ”, then the simple answer is yes. Philadelphia, the historic city known as the birthplace of American independence, offers a wealth of unique opportunities for real estate investors. From its rich historical significance to its diverse neighborhoods, vibrant arts scene, and strong rental market, Philadelphia stands out as an ideal location to invest in. The distinctive qualities that make Philadelphia an attractive destination for real estate investment are numerous. Let’s explore the potential rewards it offers to astute investors. Historical Charm and Architectural Heritage Philadelphia's streets echo with the footsteps of America's founding fathers, offering a truly unparalleled historical backdrop. The city boasts a treasure trove of historic properties, including colonial-era buildings, row houses, and brownstones. The preservation of architectural heritage is highly valued, creating opportunities for investors interested in restoring and repurposing these properties into desirable living spaces that maintain their unique character and charm. Diverse and Resilient Economy Philadelphia is a city of diverse neighborhoods, each with its own distinct character and allure. From the historic cobblestone streets of Old City to the eclectic vibe of Northern Liberties and the picturesque charm of Chestnut Hill, there's a neighborhood for everyone. Whether you seek a vibrant urban setting or a cozy residential enclave, Philadelphia's neighborhood diversity ensures that you'll find the perfect place to call home. Growing Population and Demand Philadelphia has experienced consistent population growth in recent years. Young professionals, students, and families are drawn to the city's numerous educational institutions, vibrant cultural scene, and employment opportunities. This steady population influx translates into an ever-increasing demand for housing, making Philadelphia an investor's dream. The city offers a diverse range of properties catering to various segments of the market, from rental apartments to family homes and student housing. Affordable Real Estate Market Compared to other major East Coast cities, Philadelphia's real estate market remains comparatively affordable. Investors can find promising opportunities without the exorbitant price tags associated with markets like New York or Washington D. C. The city's affordability combined with its strong market fundamentals presents a prime investment landscape, allowing investors to enter the market with a lower barrier to entry and potentially reap significant returns. Strategic Location and Accessibility Philadelphia's strategic location places it within easy reach of major metropolitan areas along the East Coast. The city's proximity to economic powerhouses like New York City, Washington D. C. , and Boston enhances its investment appeal. Investors benefit from expanded market opportunities and the ability to attract tenants and buyers from a broader pool of potential residents. Additionally, Philadelphia's excellent transportation infrastructure, including an international airport, regional rail lines, and an extensive public transit system, ensures convenient connectivity both within the city and to neighboring regions. Cultural Vibrancy and Livability Philadelphia pulsates with a vibrant arts and culture scene. The city boasts world-class museums, art galleries, music venues, and theaters that cater to a diverse range of tastes. From the iconic Philadelphia Museum of Art to the Mural Arts Program that turns the city into an open-air gallery, cultural enrichment is woven into the fabric of Philadelphia. This cultural vibrancy, combined with an abundance of green spaces and a walkable layout, makes Philadelphia a highly livable city, further enhancing its investment potential. Philadelphia Presents Opportunity for Real Estate Investment With its unique blend of historical significance, vibrant neighborhoods, diverse economy, and strong rental market, Philadelphia stands as a compelling destination for real estate investors. The city's affordable prices, growing population, strategic location, and cultural attractions create a favorable investment landscape that offers both stability and growth potential. Whether you seek to restore historic properties, capitalize on the rental market, or tap into the city's economic diversity, Philadelphia presents an opportunity to invest in a city that embraces. Browse Home365 Investment Properties in Philadelphia At Home365, we offer a variety of investment properties in Philadelphia. You can also take advantage of our premium Philadelphia property management services! Contact us or browse our investment properties. Philadelphia Investment Properties --- > Investing in real estate & looking to capitalize on your tax deductions? Learn more about your options to maximize returns. - Published: 2023-06-13 - Modified: 2023-07-11 - URL: https://www.home365.co/general-knowledge/tax-benefits-for-real-estate-investors/ - Categories: General Knowledge In the world of real estate investing, the potential for wealth creation and financial freedom is abundant. As a savvy investor, you not only have the opportunity to generate passive income and build a diverse portfolio of properties, but also to take advantage of various tax benefits that can significantly impact your bottom line. In this article, we will explore the key tax benefits available to real estate investors, including deductions, depreciation, 1031 exchanges, capital gains tax, and the exciting opportunity zones. Understanding and leveraging these tax strategies will not only help you maximize your profits but also ensure you navigate the complex world of real estate taxation with confidence and success. So, let's dive in and uncover the secrets to optimizing your tax advantage in the real estate realm. Real Estate Investing Deductions Deductions are a key tax benefit that real estate investors can utilize to reduce their taxable income and lower their overall tax liability. They allow you to deduct certain expenses associated with owning and operating your rental property, resulting in a lower taxable rental income and potentially more money in your pocket. Some of the most common deductions for real estate investors include: Repairs & maintenance Property management fees Mortgage interest Property taxes Insurance premiums Home office deductions Travel expenses Fees paid to professionals for services related to your rental property business (accountants, lawyers, and real estate agents) Remember, it's crucial to maintain accurate records and receipts for all your deductible expenses. This documentation is essential to support your deductions and withstand scrutiny from the IRS in case of an audit. It's worth noting that deductions should be claimed within the boundaries of tax laws and regulations. Consulting with a qualified tax professional or accountant who specializes in real estate can provide valuable guidance and ensure you maximize your deductions while remaining compliant with the law. By taking advantage of deductions, you can reduce your taxable rental income, lower your tax liability, and keep more of your hard-earned rental income. Properly utilizing deductions is an effective way to optimize your real estate investment strategy and achieve greater financial success. Real Estate Investment Depreciation Depreciation is a powerful tax benefit available to real estate investors. It refers to the gradual wear and tear of a rental property over time, and investors can claim a deduction for this loss in value on their tax returns. Calculating Depreciation for Rental Property The IRS allows real estate investors to depreciate their rental property over 27. 5 years, which means that you can claim a portion of the property's value as a tax deduction each year for 27. 5 years. For example, if you own a rental property worth $500,000, you can claim a depreciation deduction of $18,181. 82 per year ($500,000/27. 5 years). Depreciation is a non-cash expense, meaning you don't have to pay anything out of pocket to claim this deduction. Instead, it's a paper expense that reduces your taxable income, lowering your tax liability. This benefits allows you to use the depreciation deduction to offset your rental income, reducing the amount of taxes you owe on that income. What is Depreciation Recapture? When you sell your rental property, you'll need to pay back the depreciation claimed over the years. This is known as depreciation recapture, and it's taxed at a higher rate than regular capital gains taxes. However, many real estate investors use strategies such as a 1031 exchange to defer paying taxes on the sale of their rental property, allowing them to continue to benefit from the tax advantages of real estate investing. 1031 Exchanges: What Is It? Speaking of 1031 exchanges, this tax benefit is another advantageous option for real estate investors. A 1031 exchange, named after Section 1031 of the Internal Revenue Code, allows investors to defer paying capital gains taxes on the sale of a property if they reinvest the proceeds into a like-kind property. In other words, it's a way to swap one investment property for another without incurring immediate tax liabilities. How Does a 1031 Exchange Work? When you sell a property and make a profit, you would typically be subject to capital gains taxes on that profit. However, with a 1031 exchange, you can reinvest the proceeds into another property of equal or greater value within a specific timeframe. By doing so, you can defer paying capital gains taxes on the sale and instead, carry over the tax basis from the original property to the replacement property. There are a few key rules to keep in mind when considering a 1031 exchange: Like-Kind Property: The property you acquire through the exchange must be of "like-kind" to the property you sold. This doesn't mean they have to be identical properties; it refers to the nature or character of the investment, typically any type of real estate for real estate. Identification Period: After selling your property, you have 45 days to identify potential replacement properties in writing to the qualified intermediary (a third party who facilitates the exchange). It's crucial to carefully adhere to this timeline to ensure compliance. Exchange Period: Once you've identified the replacement properties, you have 180 days from the sale of your original property to complete the exchange by acquiring the replacement property. Again, it's vital to meet this timeframe to qualify for the tax deferral. Defer Capital Gains Tax: Does Not Eliminate It's important to note that a 1031 exchange allows you to defer capital gains taxes, not eliminate them entirely. When you eventually sell the replacement property without executing another 1031 exchange, you will be subject to capital gains taxes. However, by deferring the taxes, you can use the proceeds from the sale to acquire additional properties, grow your real estate portfolio, and potentially defer taxes indefinitely. Capital Gains Capital gains refer to the profits made from the sale of an investment property. As a real estate investor, understanding how capital gains taxes work is crucial because it can significantly impact your overall financial picture. What is a Capital Gains Tax? When you sell a property for a higher price than what you originally paid for it, the difference between the sale price and the property's basis (which is typically the original purchase price plus any improvements made) is considered a capital gain. This gain is subject to capital gains taxes. Short-Term vs Long-Term Capital Gains The tax rate you pay on capital gains depends on whether the gain is categorized as short-term or long-term. If you held the property for one year or less, it is considered a short-term gain and is subject to ordinary income tax rates. However, if you held the property for more than one year, it is classified as a long-term gain, and you may qualify for preferential long-term capital gains tax rates, which are typically lower than ordinary income tax rates. What is my Capital Gains Tax Rate? The specific capital gains tax rates depend on your income level and the current tax laws in effect at the time of the sale. It's important to consult with a tax professional or refer to the IRS guidelines to determine your applicable tax rate. It's worth noting that capital gains taxes are applicable to the net gain from the sale, after accounting for any allowable deductions, such as selling expenses, improvements, and property-related costs. Therefore, it's important to keep detailed records of these expenses to accurately calculate your taxable capital gains. And as always, consulting with a knowledgeable tax professional is recommended to navigate the complexities of capital gains taxes and optimize your real estate investment strategy. Opportunity Zones Tax Incentive Another worthwhile benefit for investors to explore are opportunity zones. The Opportunity Zones program is a tax incentive designed to encourage investment in low-income communities designated as "Opportunity Zones" by the federal government. This program offers significant tax benefits to investors who invest in qualifying real estate projects located in these designated zones. 3 Primary Opportunity Zone Benefits for Investors The Opportunity Zones tax benefit provides three primary tax incentives for investors: Temporary Deferral of Capital Gains Taxes: Investors can defer paying taxes on capital gains from the sale of an asset by investing the gains in a Qualified Opportunity Fund (QOF) within 180 days of the sale. This deferral lasts until the earlier of the date the investment is sold or December 31, 2026. Reduction of Capital Gains Taxes: If investors hold their QOF investment for at least five years, they can reduce their capital gains taxes by 10% of the original gain. If they hold the investment for at least seven years, the reduction increases to 15% of the original gain. Tax-Free Gains on the Opportunity Fund Investment: If investors hold their QOF investment for at least ten years, they can exclude any capital gains tax on the appreciation of the QOF investment. To qualify for these tax benefits, the investment must be made in a Qualified Opportunity Fund, which is an investment vehicle that holds at least 90% of its assets in qualifying Opportunity Zone property. For real estate investors, the Opportunity Zones tax benefit provides a unique opportunity to invest in designated low-income areas while receiving significant tax benefits. It's important to note that the program has specific rules and requirements that must be met to qualify for the tax benefits. It's recommended that investors consult with a qualified tax professional to determine if the Opportunity Zones program is suitable for their investment strategy and goals. Leveraging Tax Benefits for Real Estate Professionals Understanding and harnessing the tax benefits available to real estate investors can be a game-changer for your financial success. By strategically utilizing deductions, leveraging depreciation, exploring the opportunities presented by 1031 exchanges, optimizing capital gains tax, and exploring the potential of opportunity zones, you can unlock substantial advantages that enhance your cash flow and overall profitability. However, it's important to remember that tax laws are complex and subject to change, so staying informed and seeking professional advice is crucial. With the right knowledge and guidance, you can navigate the intricacies of real estate taxation and position yourself for long-term success in this dynamic and rewarding industry. So, go ahead and seize these tax benefits, and watch your real estate investment journey flourish. Here's to your prosperous and tax-efficient real estate endeavors! Request A Quote --- > Are you a landlord having trouble with tenants not paying rent? Home365 provides a guide on how to send a tenant to collections. Learn more here. - Published: 2023-05-22 - Modified: 2023-10-11 - URL: https://www.home365.co/general-knowledge/tenant-collections-in-property-management/ - Categories: General Knowledge Are you new to the world of real estate investment? If so, you may be wondering what to do if a tenant doesn't pay their rent or causes damage to your rental property. One option is to send them to collections. Let's break down what that means. What is Collections? Sending a tenant to collections is a process used by landlords or property managers to collect unpaid rent or other debts owed by a tenant who has vacated the rental property. Collecting from a tenant is important for the financial stability of the landlord or property manager, can prevent future financial problems, and helps maintain positive landlord-tenant relationships. First and foremost, landlords or property managers rely on rent payments to cover their expenses, such as mortgage payments, property taxes, insurance, and maintenance costs. When tenants fail to pay rent, it can have a significant impact on the landlord's financial stability, and ultimately affect their ability to continue providing rental properties to tenants. In addition to rent payments, landlords or property managers may need to collect other debts from tenants, such as fees for damages caused to the rental property or outstanding utility bills. These debts can also have a financial impact on the landlord, and it's important to collect them to ensure that the landlord's costs are covered. Furthermore, allowing tenants to ignore their debts can set a precedent for future tenants, potentially leading to more tenants failing to pay rent or other debts. This can harm the financial stability of the landlord or property manager and lead to a cycle of financial hardship. Also, collecting from a tenant can help maintain a positive relationship between the landlord or property manager and the tenant. By following proper collection procedures and communicating clearly with the tenant, it's possible to resolve any outstanding debts in a way that is fair and reasonable to both parties. This can help prevent further disputes and ensure that the landlord-tenant relationship remains positive. Using a Property Management Company for Collections A property management company can assist a landlord in sending a tenant to collections by handling the entire collections process on behalf of the landlord. Some property management companies, like Home365, have an in-house collections specialist, whose services are provided to current owners and investors in contract with the company. Here are some things a collections specialist can do: Contact and document communication with the tenant: The property management company will attempt to contact the tenant to resolve the outstanding debt. This can be done via phone, email, or written correspondence. Written conversations are preferred to keep track of all communication, including dates, times, and the content of the conversation or correspondence. Send a demand letter: If the tenant does not respond or pay the outstanding debt, the property management company can send a demand letter requesting payment within 10 days. File a lawsuit: If the collections specialist is unable to collect the debt, the property management company can advise the landlord on whether to file a lawsuit against the tenant in small claims court to recover the unpaid rent or damages. At minimum, the specialist can report these collections to major credit bureaus. Learn About Our Property Management Services Tenant Debt Collection Tips By communicating clearly, being persistent, and following legal requirements, landlords can increase the chances of successfully collecting outstanding debts from tenants. Here are some tips for sending a tenant to collections: Review Lease Agreements Before initiating the collections process, landlords should review the lease agreement to ensure that they have a legal basis for pursuing the unpaid debt. The lease agreement should outline the steps to be taken when a tenant fails to pay rent or damages the property. If the owner utilizes a property management company, take the time to read the lease agreement in order to understand the company's collection policies. Follow Legal Requirements & Regulations Landlords or Property Management should ensure that they are following all legal requirements and regulations when sending a tenant to collections. This may include obtaining the tenant's consent to collect and use their personal information and complying with data protection laws including: Fair Debt Collection Practices Act (FDCPA): The FDCPA is a federal law that sets guidelines for how collections agencies can collect debts from consumers. The law prohibits abusive or deceptive practices, such as making false statements or threats, using profanity, or harassing debtors with frequent phone calls. Telephone Consumer Protection Act (TCPA): The TCPA is a federal law that regulates telemarketing calls and text messages. The law requires collections agencies to obtain prior consent from debtors before calling or texting them, and to provide an opt-out mechanism for consumers who no longer wish to receive calls or texts. Fair Credit Reporting Act (FCRA): The FCRA is a federal law that regulates the use of credit reports and credit reporting agencies. Collections agencies must comply with the FCRA when reporting debts to credit bureaus and when accessing consumers' credit reports. Data protection laws: These laws regulate the collection, storage, and use of personal data and require companies to obtain consumers' consent before using their data for marketing or other purposes. Negotiate Payment Plans At the end of the day it may be more cost-effective to negotiate a payment plan with the tenant and this can be done through the collections department. Owners and property managers should also take precautions to avoid late fees by giving an option to set up automatic payments and conducting thorough background checks on applicants. Landlords should take proper steps to mitigate having to pursue collections and if it comes to it, consider all available options and choose the approach that is most likely to result in the debt being repaid. Contact Home365 for Expert Collections Assistance Home365 has all the necessary tools at its disposal to successfully collect delinquent accounts, the education and expertise to adhere to all collection laws and maximize your return, at a rate better than most third party collection agencies. Request A Quote --- > Find out the pros & cons of investing in Section 8 housing, and the steps to becoming a Section 8 landlord. Read more here. - Published: 2023-05-22 - Modified: 2023-10-16 - URL: https://www.home365.co/general-knowledge/investing-in-section-8-real-estate-pros-and-cons/ - Categories: General Knowledge As you start exploring the many different types of investment opportunities available to you, you might come across something called "Section 8 housing. " This government program is designed to help low-income families, elderly individuals, and people with disabilities find affordable housing, and it can be a great option for real estate investors who are looking to expand their portfolio. View Property Management Services What is Section 8 Housing? The official name of the Section 8 program is the Housing Choice Voucher Program. It provides rental assistance to eligible families and individuals, who receive a voucher that covers a portion of their rent. The voucher can be used to rent a privately-owned property, such as a house or apartment, and the program pays the remaining portion of the rent directly to the landlord. In addition to the Housing Choice Voucher Program, there is also a type of Section 8 housing known as Project-Based Section 8. This program provides rental assistance for specific properties rather than individual vouchers for tenants. The property owner or landlord agrees to reserve a certain number of units for low-income families or individuals and then receives a subsidy from the government to cover a portion of the rent. In this program, tenants are not required to have a voucher, and the subsidy is tied to the specific unit, so if the tenant moves out, the subsidy remains with the property. Project-Based Section 8 housing can provide stability and consistency for both landlords and tenants, and it can be a great option for investors who are interested in affordable housing. To be eligible for the program, families and individuals must have a household income that is below a certain threshold, and they must meet other requirements set by the Department of Housing and Urban Development (HUD). Landlords who participate in the program must also meet certain standards and requirements, such as passing a housing inspection and setting the rent at or below the fair market value for the area. Landlord Application Process If you're interested in becoming a Section 8 landlord, the first step is to contact your local Public Housing Agency (PHA). They can provide you with information on how to apply for the program and what the requirements are for landlords. Some of the requirements consist of:Pass a housing inspectionSet the rent at or below fair market valueAgree to participate in the program for at least one yearMaintain the property in good conditionAccept Section 8 tenantsAttend annual training sessionsIt's important to note that the specific requirements for becoming a Section 8 landlord may vary depending on the PHA in your area. Be sure to check with your local PHA to learn about their specific requirements and guidelines. Once you've submitted your application, the PHA will review it and determine whether or not you meet the program requirements. If you're approved, you'll be added to the list of landlords who are eligible to participate in the program. Contact Us Pros and Cons of Investing in Section 8 Housing By communicating clearly, being persistent, and following legal requirements, landlords can increase the chances of successfully collecting outstanding debts from tenants. Here are some tips for sending a tenant to collections: Investing in Section 8 Housing: Pros Guaranteed rental income: With Section 8 housing, you are guaranteed to receive rental payments from the government. This can provide a steady stream of income for your rental properties. Large pool of potential renters: There is often a high demand for Section 8 housing, which means you'll have access to a large pool of potential renters. Reduced vacancy rates: Because of the high demand for Section 8 housing, landlords may experience lower vacancy rates than they would with non-Section 8 properties. Longer lease terms: Tenants in Section 8 housing typically have longer lease terms than those in non-Section 8 properties. This can provide stability and predictability for landlords. Investing in Section 8 Housing: Cons Potential for more regulations and inspections: Landlords who participate in the Section 8 program are subject to more regulations and inspections than those who don't. These regulations can be time-consuming and costly, and failure to comply can result in penalties and even termination from the program. Limits on rent increases: Landlords who participate in the Section 8 program are limited in how much they can raise the rent on their properties. This can make it difficult to keep up with inflation and rising property values. Delays in payment: While the program provides guaranteed rental income, there can be delays in receiving payments from the government. These delays can be frustrating for landlords who rely on the income to cover their expenses. Stigma: Some landlords may be hesitant to participate in the Section 8 program due to a perceived stigma associated with low-income renters. This can make it harder to find tenants and may limit the number of properties available for rent. Overall, investing in Section 8 housing can be a great way to expand your real estate portfolio and provide affordable housing for families and individuals who need it. Just be sure to do your research! Request A Quote --- > Get the information you need and learn the factors to consider on how to price your rental property. Learn more here. - Published: 2023-04-18 - Modified: 2023-07-11 - URL: https://www.home365.co/general-knowledge/how-to-price-a-rental-property/ - Categories: General Knowledge When determining the rental price for a property, many factors must be considered. It is important to speak to an expert in the area, like a local property manager or real estate agent. Apart from an expert helping you with the price comparison for that area from the MLS (Multiple Listing Service), there are a few things that also play a role in determining the rental price of a property. Location: A desired location with access to amenities, like public transportation and in reasonable proximity to necessities, usually increases demand which in turn can create a higher rent price. Size and Condition: Larger properties with more rooms and a more updated model may warrant higher rent. An outdated property typically has more room for negotiation and tenants could request repairs be done before move-in, which would cost more for the owner. Demand: If there is a higher demand for rental properties in the area, the price may go up. Comparable Properties: Researching other rental prices for similar properties in similar areas can be helpful. However, noting the other factors like size and condition compared to the other properties can decrease the chance of overpricing the property. Operating Expenses: When determining the rental price, the cost of maintenance and operating expenses should be factored in. Things like lawn or pool care, pets, and general wear and tear of the property would be a good starting point. Market Trends: The current state of the rental market will impact rental prices. Again, it is always important to consult a local expert or online sources, like Zillow and Redfin, when determining the rental price of a property. Learn more about property management and request a quote below. Request A Quote --- > Learn the top five things renters are looking for in rental properties and how to market and maintation a property. Learn more here. - Published: 2023-04-18 - Modified: 2023-07-11 - URL: https://www.home365.co/general-knowledge/top-things-a-renter-wants-in-a-rental-property/ - Categories: General Knowledge When a renter is searching for a home, there are plenty of things to take into consideration. On top of that, the renter may have lots of options based on the area for properties. When marketing and maintaining a property, here are the top things to consider renters are looking for: Safety and Security: One of the most important factors a renter looks for in a potential rental property is safety and security. Things like a secure door and lock, working fire alarms, windows, and detectors can be the minimum for some renters to consider a property. Location: Location is key when a renter is looking for a property. Renters usually narrow down on location based on place of work or school, amenities, etc. then search within that radius. Affordability: Another critical factor when searching for a rental property is affordability. Renters want a property that fits their budget. Renters not only take into consideration the rent costs but also utility bills, security deposits, and so on. Up-to-date and Comfortable Living Space: Renters want a comfortable living space that includes basic amenities like heating and cooling. They also will look into the appliances to make sure they will function properly and may prefer newer appliances. Good Landlords or Property Management: Renters want a property that has an approachable and responsive landlord or property management company. Making sure the point gets across that the property will have good customer service and a quick response time to repair work are critical demands from renters. Home365 can provide full-service property management services you need for your property. Request a quote today. Request A Quote --- > Are you interested in managing properties in Chicago? Increase your success by reading through these valuable lessons learned. Click here to learn more! - Published: 2023-04-06 - Modified: 2023-10-11 - URL: https://www.home365.co/general-knowledge/lessons-learned-while-managing-properties-in-chicago/ - Categories: General Knowledge, Chicago, Property management Being a successful property manager takes a lot of knowledge and time. Here are a few lessons learned from managing properties in Chicago, IL: Stay Up to Date With the Latest Landlord-tenant Laws Take the initiative to stay up to date on the latest landlord-tenant laws. Chicago has strict laws around evictions, security deposits, leases, and more. Being able to understand them and follow these laws will help avoid any legal proceedings. Find Reliable Property Management Tools Investing in the correct technology to help manage rental properties can reduce stress and streamline operations. A technology that helps with rent collection, maintenance, and communication could be most effective. Keep Properties in Top Shape Maintenance in Chicago requires keeping properties in top shape. Chicago has a harsh climate of high humidity and rough winter conditions that can affect the state of the property. Preventative maintenance regularly may prevent a more costly repair during the seasons. Find Trusted Professionals in the Area Find trusted professionals in the Chicago area. From maintenance to attorneys. Finding individuals to trust in the area where the investment property is located, is important. Trusted contractors can save you time and money. While attorneys with knowledge of laws concerning property management can help relieve potentially stressful situations with tenants. Respond to Tenants Needs Respond to tenant’s needs quickly and efficiently. Good communication with tenants can build trust and respect with renters. This can lead to longer tenant retention and increase the tenant’s good treatment of the property. On top of effective communication, being responsive in a timely manner shows that the owner cares. Work with a Property Management Company Lastly, consider working with a property management company. If managing multiple properties becomes overwhelming, a property management company will know the local rules and regulations, have processes in place for communicating with tenants, and may help in navigating complex situations. Contact Home365 for Property Management Solutions Overall, being a successful property manager in Chicago requires an investor to understand and learn many things, like tenant-landlord laws, maintenance, effective communication, and more. Request A Quote --- > Considering purchasing an investment property in Atlanta? Determine if it is the right decision for you by reading about some of the benefits. Learn more! - Published: 2023-04-06 - Modified: 2023-10-11 - URL: https://www.home365.co/general-knowledge/why-should-you-buy-an-investment-property-in-atlanta/ - Categories: General Knowledge, Atlanta, Property management Investing in a new market requires lots of research and knowledge. An investment property is a major purchase and someone considering investing should look into that market to make sure it is the right fit. Atlanta, Georgia has become increasingly popular for investing and here’s why: Steady Rental Market: Atlanta is built from a diverse economy, which helps keep the rental market stable. This in turn keeps vacancy rates low, and demand for rental properties high, due to the increasing population and range of job opportunities. Beneficial Pricing Trend: Recently, Atlanta’s market has seen a good price trend. The cost of homes in Atlanta are affordable compared to other cities and the value of properties are predicted to continue rising. High ROI: With the lower property prices and the city's stable rental market, investors can expect a higher return on investment than other areas. Employment Opportunities: Atlanta is currently seeing economic growth because of many companies, including start-ups, moving to this metro. This makes Atlanta a hotspot for young professionals and renters to come. Increase in Population: Due to Atlanta being a hotspot for young professionals, Atlanta’s population is expected to continue to grow, which can be beneficial for investors. Stable Appreciation: The housing market in Atlanta has historically been favorable with long-term appreciation, which is only expected to continue. This is important for those investors who are planning on holding their property for a long time and need a reliable source of returns. View Atlanta Investment Properties --- > Looking to invest in a property & need help deciding where to invest? Check out the various benefits of PA that make it the best state to invest in! - Published: 2023-04-06 - Modified: 2023-11-13 - URL: https://www.home365.co/general-knowledge/what-you-should-know-about-investing-in-phoenix/ - Categories: General Knowledge, Phoenix, Real estate investing When searching for a new city to invest in, it is important to understand some basic information along the way. Here are some details to consider when investing in Phoenix, AZ. The primary investment option in Phoenix is Real Estate. This is due to the stable growth in the real estate market over the years. The rental market in Phoenix is lucrative. The city’s population is growing and has consistent developments to increase the rental demand. Phoenix is a metro with a lot of different surrounding suburbs that has more than 4. 5 million people. It is one of the fastest-growing cities in the US, which helps the city’s real estate market by creating new homes and a steady amount of residents with rental needs. The city offers a good business environment with a combined low cost of living, making it attractive for businesses to operate or relocate to Phoenix. The city is home to multiple Fortune 500 companies, along with start-ups, creating a strong business climate. Phoenix’s location makes it an important hub for major highways and international airports, creating an even higher demand for the location. Phoenix is a growing city with a strong background for real estate investing. It is important to do research and consult with experts to get a better grasp on the potential Phoenix has. Starting a portfolio in a new city can be overwhelming. It is important to learn how to find the best deals for investments. Phoenix, AZ is becoming increasingly popular for investing in both long and short term rentals, due to the area being attractive to young professionals. 5 Property Investing Tips in PhoenixHere are the tips investors should know when finding the best deals in Phoenix, AZ: Network with other investors and real estate professionals: Attend meetings and events hosted by local real estate investment clubs, join online forums and social media groups, and build relationships with real estate agents and property managers. Conduct thorough research: Use online resources to research the real estate market. This will help you identify neighborhoods and properties with the most potential for success. Work with a reputable real estate agent: Partner with a local real estate professional who specializes in investment properties and has a deep understanding of the Phoenix market. They can provide valuable insights and help you find the best deals. Be patient and persistent: Finding the best real estate investment deals takes time and effort. The right opportunity will present itself with commitment to staying focused on investment goals. Overall, Phoenix has a strong renter’s market that has great potential and with these tips, investors can start exploring with more knowledge. View Phoenix Property Management Services --- > Looking to invest in a property & need help deciding where to invest? Check out the various benefits of PA that make it the best state to invest in! - Published: 2023-04-06 - Modified: 2023-10-16 - URL: https://www.home365.co/general-knowledge/why-pennsylvania-is-the-best-state-to-invest-in/ - Categories: General Knowledge, Real estate investing Have you considered buying a rental property in the Northeast? There are always factors that you should consider when starting a portfolio in a new state. Here is why Pennsylvania is considered a good state for real estate investing: Job Market Strength: Pennsylvania has a strong and diverse job market with multiple industries, creating a stable economy. This can drive up real estate prices, in turn raising rent. While also increasing the demand for rentals due to the plethora of job opportunities. Growing Population: Pennsylvania’s population has been growing steadily over the years. This is a great indicator for the future of the state and the demand for rental properties. Cost-effective Housing The cost of living in Pennsylvania is relatively low compared to other states, which makes it attractive for people looking to both buy or rent homes in PA. College Towns: Many of Pennsylvania’s cities are home to large universities. This means there is a constant influx of students each year looking for housing right off campus. These cities are prime areas for investors looking for lower risk investments, as vacancy rates are traditionally lower. Full of History: The history of Pennsylvania is rich and has strong significance throughout the state. Pennsylvania has the potential for renovation of historic properties, to keep the history and bring in a more modern feeling. Overall, Pennsylvania's stable economy, growing population, affordability, and college towns make it a promising destination for real estate investors. View Pennsylvania Property Management Services --- > Real estate investing is becoming increasingly attractive for Chicago, IL in 2023. Learn more here about the benefits of property investing in Chicago. - Published: 2023-03-16 - Modified: 2023-10-11 - URL: https://www.home365.co/growth-markets/chicago/5-reasons-for-chicago-property-investing/ - Categories: Growth Markets, Chicago Due to multiple factors Chicago, IL is becoming increasingly attractive for real estate investors in 2023. Chicago is currently ranked as the 3rd most populous city in the US and is the largest city in the state of Illinois. In the past year Chicago home prices have increased 5. 2% and the median house value is $365,000. The city is known for its culture and worldwide recognition, and 55. 6% of Chicago residents currently rent their homes. Pros To Property Investing in ChicagoOver the next year it is anticipated that Chicago will remain a popular city for real estate investing for a few reasons: Attractive prices: compared to coastal cities like New York and San Francisco, Chicago has relatively affordable prices for residential properties. High rental yields: Chicago offers high rental yields, making it attractive for real estate investors looking to generate regular income from their properties, with an average rent of about $1,800. Diverse economy: Chicago has a diverse economy and low unemployment rate. With various industries such as finance, healthcare, education, and technology, this diversity ensures that property owners can attract a steady flow of renters and buyers from different sectors of the economy, and the unemployment rate in Chicago is 4. 7%. Accessibility: The city has a well-developed infrastructure, including airports, train stations, highways, and public transportation systems, providing convenient access to different parts of the city. A Stable Market: Despite fluctuations in the national real estate market, Chicago's market has been relatively stable with median annual price increasing over time. If you are an investor looking for your next property, or looking to start a portfolio from scratch, Chicago may be the place for you. Request A Quote --- > If you are starting your portfolio as a property investor in Atlanta, Georgia, and in search of the best areas to invest in Atlanta, learn more here. - Published: 2023-03-16 - Modified: 2023-10-11 - URL: https://www.home365.co/general-knowledge/top-5-places-to-invest-in-atlanta-ga/ - Categories: Atlanta, General Knowledge Atlanta, GA is an attractive city for real estate investors. The city has opportunities for job growth and an international influx which is increasing the population year over year. 58% of residents are renters and there are over 250,000 housing units in the city alone. If you are looking to start your portfolio in Atlanta, GA, here are some of the best areas to look at: 5 Areas to Invest In AtlantaKirkwood: A historic neighborhood that attracts its residents for the day and nightlife. Kirkwood is also undergoing renovations to attract young professionals. East Atlanta Village: A popular neighborhood for its entertainment options and community events. This neighborhood gives the perfect suburban feel while still remaining outside of downtown. Grant Park: A sought-after neighborhood with many historic homes, parks, and museums, known for its annual events like festivals and located close to downtown. Old Fourth Ward: A rapidly growing area with a mix of commercial and residential properties, this part of the city is only home to 917 people, but provides an urban and unique feel. Westview: Located in southwest Atlanta, this neighborhood is up and coming and has the draw for many families and young professionals due to its travel distance from the heart of downtown and number of things to do. Ready to start the next step? Take a look at some of the houses for sale in Atlanta, GA and surrounding areas. View Atlanta Investment Properties --- > Learn about effective property management in Philadelphia, Pennsylvania with tenant management, laws and regulations, maintenance, and more. - Published: 2023-03-16 - Modified: 2023-10-16 - URL: https://www.home365.co/general-knowledge/what-to-know-about-managing-properties-in-philadelphia/ - Categories: Philadelphia, General Knowledge Effective property management in Philadelphia requires knowledge and attention to many aspects in order to create a sustainable practice. Research about tenant management, laws and regulations, and vacancy should all be considered when investing in a property to rent. View Philadelphia Property Management Services The Market In PhiladelphiaReal Estate investing involves keeping up with the market trends. Things to know include average rent, vacancy rates, population of renters, and more. In Philadelphia, these factors look to be stable. The average rent was up 2. 2% from the previous year at $1,616. The occupancy rate of properties is at 95. 4% and 48. 8% of the population is renting. As always this data can change and it is important to keep up-to-date with this information. Regulations and LawsOn top of federal and state laws, Philadelphia also has local regulations and codes to be aware of. Philadelphia requires property owners to register their rental properties with the Department of Licenses and Inspections. The city has regulations around tenants’ rights, like eviction, and fair housing rules, as well as Philadelphia’s building code. These laws are important to become knowledgeable about before renting a property. Onboarding/RequirementsAfter the initial set up of the property, an initial inspection may need to be conducted in order to market the property correctly, as well as make sure it is up to requirements. Pictures should be taken, and posted to the preferred website; an example is Zillow. Once listed and applications start coming in, tenant screening occurs. This is critical to the success of income, as verification of the applicants’ background will ensure the correct fit. Some things to confirm are the applicants’ income, credit history, criminal background, and rental history. After a tenant is selected, a lease agreement will be put in place, signed by both parties. In Philadelphia, at this time it will be extremely important and required to have insurance policies that cover property damage, liability, and workers' compensation. The owner should also make sure the new tenant has appropriate renters insurance as well. TenantsAfter the tenant moves in, regular inspections should be put in place to check up on the property from time to time. In Philadelphia a landlord must give at least a 24 hour notice of entry. Tenant management is important in property management and can help things go smoothly, like rent collection. State in the lease how and when rent is to be paid each month. In Philadelphia, it's illegal to charge late fees greater than 5% of rent, and you must give tenants a grace period of 10 days before charging a late fee. In the unlikely event it leads to eviction, an investor will want to know everything about that process as well. MaintenanceA property manager is also responsible for maintaining and repairing the property either while a tenant is in place, when the property is vacant, and for turnovers. A well-established system should be put in place for tenants to report maintenance issues and research on reputable vendors should be done, to find the best people to work on the property. It is important to note in Philadelphia, tenants can withhold rent if they can prove the property is not habitable and take the reasonable steps of reporting it, so keeping up with maintenance is crucial. Overall, it is important to do the research and dedicate the time to learning what it takes to be a property manager in Philadelphia, PA. Request a Quote --- > As a property tenant and landlord it is important to know legal rights and obligations in your area. Learn more about Baltimore's laws here. - Published: 2023-03-16 - Modified: 2023-10-16 - URL: https://www.home365.co/general-knowledge/tenant-landlord-laws-in-baltimore-maryland/ - Categories: Baltimore, General Knowledge The landlord-tenant laws in Baltimore are governed by the Maryland Residential Landlord and Tenant Act, which outlines the legal rights and obligations of both landlords and tenants. These laws are created to minimize disputes between the two parties, and hold landlords and tenants accountable. Landlord-Tenant Laws in BaltimoreApplication Fee: An application fee is allowed to be charged when applying for a unit. However if the tenant backs out of the agreement there are circumstances where the landlord must return some of the fee. If the fee is $25 or less, the landlord may keep the fee, if it is $25 or more, the landlord must return the amount that was not used to process the application. If the whole amount was used for processing the landlord may be asked for proof, otherwise the landlord has 15 days to return the rest of the fee. Lease: A written lease is required in Baltimore for any rentals that are longer than a year or more, and strongly recommended for those shorter than a year. The lease must clearly state the obligations of both parties and set the expectation of a safe and habitable property. In Baltimore, landlords must give tenants a copy of the lease prior to move in. Security Deposit: The security deposit can not be more than two months’ rent. The landlord must provide a receipt for the security deposit that can be included in the lease. At the end of the tenancy the security deposit must be returned within 45 days. If the landlord keeps any part of the security deposit for damages, it must be above the normal wear and tear. Please note: a tenant breaking the lease does not require a full deposit return. Rent Payments: The city of Baltimore requires that all rental payments receive a receipt. Landlords are protected from non-payment, by eviction laws. Tenants must pay rent by the date specified on the lease (normally the first day of the month), or they can be subjected to late fees. Late fees cannot exceed more than 5% of the rent. Lease Renewals and Rent Increase: In Baltimore, at the end of the lease the tenant should give a written notice of intent to move out, in order to avoid automatic renewal. The lease should state the minimum days required for this notice. Landlords can raise the rent at the end of a lease term, but must give tenants at least one month's notice. Repairs and Maintenance: Landlords are responsible for keeping the property in good condition and must respond in a timely manner to request for repairs. The tenant is responsible for keeping the property clean and safe during their lease agreement. Discrimination: Landlords cannot discriminate against tenants based on race, gender, religion, disability, or other classes protected by law. If you have any specific questions or concerns about your rights as a tenant or landlord in Baltimore, it's best to consult with an experienced attorney who can provide you with personalized legal advice based on the situation. View Baltimore Property Management Services --- > If you are starting your portfolio as a property investor in Las Vegas, and in search of the best areas to invest in Las Vegas, learn more here. - Published: 2023-03-16 - Modified: 2023-10-11 - URL: https://www.home365.co/general-knowledge/top-5-places-to-invest-in-las-vegas-nv/ - Categories: Las Vegas, General Knowledge The Las Vegas area has become increasingly popular for Real Estate investors. The city offers various types of properties and areas all within just a few miles of each other. Las Vegas has a diverse job market and a population of about 646,000 and growing. Locations Investors Should Look in Las VegasThe best places to invest in Las Vegas will depend on the investment goal, budget, and risks the investor is willing to take. Here are the 5 places investors should start looking: Downtown Las Vegas: This area is undergoing a huge change with new developments, restaurants, and entertainment options that make it attractive for young adult renters. Downtown is an ideal location for those working on the Las Vegas Strip but offers a more affordable and relaxed lifestyle. Downtown has both single family homes and large apartment buildings. Summerlin: A community in Las Vegas that is located on the west side, creating almost direct access to the mountains and trails. Summerlin is a master planned neighborhood that is known for its high-end single family homes, great schools, and its own downtown area with shopping, restaurants, and more. The average rent in Summerlin is higher than that of Las Vegas as a whole, making it attractive for investors looking for Class A properties. Henderson: Known for its suburban feel, Henderson is located southeast of Las Vegas and is considered its own city, but gets the same attention as Las Vegas. The city is growing significantly which is creating a strong job market for transplants to Nevada. Henderson has an excellent school system and many people are drawn to living there because the city has so much to offer. Enterprise: Another fast-growing area in Las Vegas, Enterprise is located just South of the Las Vegas Strip and in close proximity to both the Strip and Summerlin. This area has easy access to major highways and is seeing new businesses and entertainment moving in due to the large amount of land available. Enterprise will most likely see new construction for a long time so investors will see more properties becoming available in this area. North Las Vegas: North Las Vegas is one of the most affordable suburbs of Las Vegas and is considered its own city. It has a mixture of both new and old homes, and is home to a United States Air Force Base. North Las Vegas is far enough away from the Las Vegas strip to give a suburban feel, but not too far for a commute. Investors looking for lower priced housing but a growing community in Nevada will find North Las Vegas perfect for them. View Las Vegas Investment Properties --- > Learn about the eviction in process in Phoenix. Home365 provides a timeline of events & information on court proceedings & removal. Click to read more! - Published: 2023-02-24 - Modified: 2023-10-16 - URL: https://www.home365.co/growth-markets/phoenix-eviction-process/ - Categories: Growth Markets Evictions in Phoenix, AZ start with a 5 or 30-day notice. It may be helpful to seek legal advice before beginning the eviction process. Notices can be given by hand delivery, certified mail, or other form of delivery where there is acknowledgement from the tenant that the notice was received. When a notice is hand delivered the notice period begins immediately. When it is sent by certified mail, the notice begins five days after the mailing date. Court InvolvementOnce the notice period passes, a summons and complaint are filed with the court. A proposed court date will also be filed at this time. This will normally be approximately five days from the filing date. The court will then issue the summons and may amend the court date. It is important to note that prior to court, if the tenant pays the total amount demanded in the complaint, which includes late fees, court costs and attorney’s fees, the case will be dismissed. Physical Removal Depending on if the tenant raises any legal defenses the judgment will be made at the first court appearance, or a trial will be held. If the judge finds in favor of the landlord, a writ of restitution may be issued, allowing the sheriff to physically remove the tenant and their belongings from the property. If the tenant fails to vacate on their own, you should have the writ of restitution on hand, and provide contact information for the person who will meet the constable at the property and are normally executed within three to five days after the request. View Phoenix Property Management Services --- > Are you a landlord in Atlanta? Learn more about the eviction process including notice requirements and court hearings. Learn more from Home365 today! - Published: 2023-02-24 - Modified: 2023-03-22 - URL: https://www.home365.co/growth-markets/atlanta/eviction-process-in-atlanta-georgia/ - Categories: Atlanta In Atlanta, Georgia, the eviction process typically starts with the landlord serving the tenant with a written notice, such as a demand for possession or a notice to quit, depending on the reason for the eviction; this is normally 10-days. Failure to Correct or Vacate If the tenant fails to correct the violation or vacate the property within the time period, the landlord may file a claim. The tenant will receive a summons to appear in court on a specific date and time. At the court hearing, the judge will hear evidence from both the landlord and the tenant and make a decision on the case. If the judge rules in favor of the landlord, a writ of possession will be issued, allowing the city to physically remove the tenant from the property. The eviction will then be scheduled and the Deputy Marshal will let the owner know what labor is needed in order to carry out the process. After the eviction is performed the owner will do a walk through of the property to make sure all of the tenant's possessions have been removed and the property is turned back over to the owner. Learn More about Atlanta --- > Learn more about the steps Philadelphia follows for tenant eviction, including necessary documents. For more on eviction processes, visit Home365 today! - Published: 2023-02-24 - Modified: 2023-10-16 - URL: https://www.home365.co/growth-markets/philadelphia/eviction-process-in-philadelphia-pa/ - Categories: Philadelphia The eviction process in Philadelphia, Pennsylvania follows these steps:Before filing for eviction with the courts, the landlord will need to apply for the Diversion Program for each tenant. This needs to be certified mailed as well as emailed to the tenant. The landlord also needs to apply for diversion online and in order to do so, they need to have an active rental license. Once the Diversion Program is approved, the tenants will be assigned a Housing Coordinator who will help with the mediation process between the tenant and landlord for 30 days, before the eviction gets taken to court. If the mediation does not work the landlord can then file the eviction with the court. Court HearingThe tenant has the right to contest the eviction at a hearing in front of a judge. Both the landlord and the tenant will have the opportunity to present their case and any evidence they have. After the hearing, the judge will issue a judgment in favor of either the landlord or the tenant. If the judge finds in favor of the landlord, a writ of possession will be issued, which allows the sheriff to physically remove the tenant from the property within 24 hours of being served. Necessary Landlord DocumentsWhen filing for eviction in Philadelphia, landlords should be prepared with the following documents: Tenant’s lease agreementA copy of the Diversion Program notice The Rental License The Certificate(s) of Rental SuitabilityA current Housing Inspection LicenseUp to date Ledger of the tenant’s View Philadelphia Property Management Services --- > Curious about the eviction process in Baltimore? Learn the entire process beginning to end to know what to expect. Read about the process here! - Published: 2023-02-24 - Modified: 2023-09-19 - URL: https://www.home365.co/growth-markets/baltimore/tenant-eviction-process-in-baltimore-maryland/ - Categories: Baltimore In Baltimore, the eviction process starts with the landlord filing a Notice of Intent to File 10 days before actually filing on a tenant. This gives the tenant an opportunity to respond and must be physically delivered. Then, if the tenant does not answer, the process continues by serving the tenant with a notice to vacate the property. The notice period depends on the reason for the eviction, but it can range from 7 to 30 days. The Formal Eviction Process If the tenant does not vacate the property after the notice period has expired, the landlord can file a complaint with the District Court of Baltimore City to start the formal eviction process. The court will then schedule a hearing, and both the landlord and tenant will have an opportunity to present their case. If the court rules in favor of the landlord, a Writ for possession will be issued where the tenant will be given a set amount of time, usually 5-7 days, to vacate the property. If the tenant does not vacate, a 14 day notice of eviction must be certified mailed to the property and 7 days before the eviction a notice must be posted at the property before the sheriff can enter to take back possession of the property. Learn More about Baltimore --- > Check out Central PA's eviction process, from court involvement to lockouts. Be prepared for the process with the help of Home365. Learn more here! - Published: 2023-02-24 - Modified: 2023-03-16 - URL: https://www.home365.co/growth-markets/the-eviction-process-in-central-pa/ - Categories: Growth Markets The eviction process in Central Pennsylvania is governed by state law and the Pennsylvania Landlord-Tenant Act. First, the landlord must give the tenant a Notice to quit to vacate the property, specifying the reason for the eviction. The length of notice is 10 days and gives the tenant this time to pay. If the amount is not settled by the tenant or the tenant does not vacate the property after the notice period, the landlord can file a complaint with the court in the country where the property is located. Court Involvement The court date will be scheduled about three weeks out, and the tenant has the right to appear and defend themselves against the eviction. If the landlord wins the case, the court will issue a judgment for possession in favor of the landlord or for a judgment amount. If the tenant wins, the eviction will be dismissed. Order of PossessionThe tenant then has 10 days to pay the full judgment amount or the landlord can file an Order of Possession on the 11th day after the judgment. If the tenant pays the full judgment amount at any time before the lockout, the case needs to be dismissed. If an Order of Possession is granted the court will post a date and time for the lockout at the property and the landlord will want a locksmith there to change the locks at that time. The tenant then has 10 days to set up a time to get their belongings, otherwise on the 11th day the unit can be emptied out. If the tenant does contact the landlord for their belongings they are given a full 30 days to do so but the landlord must be present with the key. Learn More about Pennsylvania --- > Learn more about the legal procedures of the eviction process in Chicago. From notices to tenant protections, understand the whole process. Read more here! - Published: 2023-02-24 - Modified: 2023-09-19 - URL: https://www.home365.co/growth-markets/chicago/chicagos-eviction-process/ - Categories: Chicago In Chicago, the eviction process starts with the landlord serving the tenant with a notice. These notices range from 5 to 30-days depending on the reason for eviction. If the tenant does not remedy the situation, the landlord may then file a complaint in court. The court will then schedule a hearing. Currently these hearings are about 60 days from the file date, and both the landlord and the tenant may present their arguments. If the judge rules in favor of the landlord, they may issue an order for eviction. The eviction order may be enforced by posting a notice on the tenant's door and removing the tenant if they have not voluntarily left within the specified time period. Tenant Protections It is important to note that there are tenant protections in place in Chicago, and landlords must follow proper legal procedures in order to carry out an eviction. Tenants who believe their eviction is not lawful may seek legal assistance, which can prolong the court procedures. A pro tip: If the owner sends the courts a 5 day notice and states in that email: "I want possession only (no money judgment)", the court will reduce the court timeline by about two weeks and the clerk charges approximately $100 less in filing costs. Learn More about Chicago --- > Learn more about the eviction process in Detroit. From termination notices to court involvement, here is a step-by-step process. Learn more! - Published: 2023-02-24 - Modified: 2023-09-19 - URL: https://www.home365.co/growth-markets/tenant-eviction-in-detroit-michigan/ - Categories: Detroit, Growth Markets In Detroit a landlord can file a 7-day non-payment or a 30-day termination notice. This notice must be written. A termination notice may only be filed if the lease end date has passed or the tenant has broken the lease. The 7-day requires tenant payment by the 7th day or a case can be filed. If the tenant does not move out by the end of the 30-day termination notice, a complaint can also be filed. To file the case the landlord will need to provide copies of the lease, ledger, management agreement, and deed. Court Process The court will issue a summons, which will be served to the tenant. This notifies the tenant of the date and time of the court hearing. The first hearing is normally a pre-trial to determine if another hearing is needed. The tenant has the right to appear in court and contest the eviction. If the tenant fails to appear in court, a default judgment may be entered in favor of the landlord. If the court rules in favor of the landlord, a judgment of eviction will be entered and the tenant will be ordered to vacate the property. Physical Removal If the tenant does not vacate the property, the landlord can request a writ of eviction from the court. This authorizes the sheriff to physically remove the tenant from the property. During this time the property can be cleared out by the tenant and the rest can be disposed of. The locks will need to be changed at this time. More Information about Detroit --- > Learn about the eviction in process in New Jersey. Home365 provides a timeline of events & information on warrants & court proceedings. Click to read more! - Published: 2023-02-24 - Modified: 2023-10-16 - URL: https://www.home365.co/growth-markets/new-jersey-eviction-process/ - Categories: Growth Markets In New Jersey, tenant evictions can be filed on the 15th of the month. This will require an active Rental License and any pertinent information regarding the eviction like the ledger. The eviction process then begins with the landlord serving the tenant with a written notice, such as a notice to quit or a notice of eviction, specifying the reason for the eviction and the time frame for the tenant to cure the default or vacate the premises. If the tenant does not resolve the issue presented, the landlord may file a complaint in the Superior Court of New Jersey, Special Civil Part, seeking an eviction. Court Hearings & WarrantsThe court will hold a hearing to determine if the eviction is justified, currently these hearings are held virtually. If the court grants the eviction, a warrant of removal will be issued to the landlord. Once a warrant of removal is issued, the landlord will receive papers with a docket number and call the Department of Special Civil Landlord Tenant to find out which constable is assigned to the lock out. Then the landlord may call the constable and schedule the lockout, at this time it is important to make sure a locksmith is there to change all locks. View New Jersey Property Management Services --- > Check out the eviction process in Virginia. Learn about the causes, notices, and the court process. For more about eviction processes, learn more here! - Published: 2023-02-23 - Modified: 2023-03-22 - URL: https://www.home365.co/growth-markets/eviction-process-in-virginia/ - Categories: Growth Markets, Norfolk The eviction process in Virginia starts with the landlord serving the tenant with a notice to vacate the property. The type of notice will depend on the reason for the eviction, such as non-payment of rent or violation of the lease agreement. This has to be mailed to the tenants at the property and it gives the tenants a 14 or 30 day timeframe to correct the issue at hand. The notice gives the tenant 3 options to avoid eviction. The first is to pay in full, the second is to request a payment plan, and the third is to apply for RRMP funds. District Court ProcessIf the tenant does not vacate the property within the notice period, the landlord can file an Unlawful Detainer with the General District Court, seeking an order of possession. The tenant will have the opportunity to appear in court and defend against the eviction. Seeking Legal AdviceIf the court finds in favor of the landlord, the tenant will be ordered to vacate the property within a certain timeframe, typically 5 to 21 days. If the tenant does not comply with the court order, the landlord may seek assistance. It is important to note that the eviction process in Virginia is complex and subject to various legal requirements and procedures, so it is recommended that landlords and tenants seek the advice of an attorney to understand their rights and responsibilities. Learn More about Virginia Operations --- > Easily learn the information you need to register your rental property with the City of Detroit to start collecting money from your property! - Published: 2023-02-22 - Modified: 2023-03-22 - URL: https://www.home365.co/growth-markets/rental-registration-detroit/ - Categories: Detroit, Growth Markets Detroit requires property owners to register their rental properties with the city. Landlords are also required to obtain a certificate of compliance, which must be renewed every two to three years, depending on the property type (single-family to two units versus three-plus units). The purpose of the rental registration and certificate of compliance program is to ensure that all rental properties in the city meet basic health and safety standards and to help the city track and monitor rental properties. To register a rental property in Detroit, property owners must first register the property as a rental. A certificate of compliance will also need to be obtained by passing a third-party inspection, and a lead test (if the property was built before 1978) must be performed. There is a list of authorized inspection companies on the accela/eLaps website. If you have any further questions about the rental registration and licensing process in Detroit, you should contact the Building Safety, Engineering, and Environmental Department. More Information about Detroit --- > Quickly learn the 5 steps necessary to register your rental property with the City of Norfolk and start collecting money from your property! - Published: 2023-02-22 - Modified: 2023-03-22 - URL: https://www.home365.co/growth-markets/rental-registration-norfolk/ - Categories: Growth Markets, Norfolk Norfolk, Virginia, has a Rental Registration and Licensing Program that requires landlords to register short-term rental properties only. This program is intended to help ensure that rental properties in the city are safe and habitable for tenants. Under the program, property owners must register their properties with the city, pass an inspection, and pay an annual fee. Landlords must also provide tenants with certain information, such as contact information for the property owner and the property’s registration number. Tenants also have certain rights and responsibilities under the program. To complete the rental registration process in Norfolk, landlords will need to do the following: Complete and submit a rental registration application. This can typically be found on the city’s website or from the city’s Department of Neighborhood Development Services. Schedule and pass an inspection of the rental property. The inspection will ensure that the property meets the city’s standards for safety and habitability. Pay the annual registration fee. The fee varies depending on the number of units in the property and if the property is owner-occupied. Once the property has passed inspection and the fee has been paid, the property owner will receive a rental registration certificate, which will need to be displayed in the rental unit. The landlord must also provide tenants with contact information of the property owner and its registration number; the information must be provided upon tenants moving in. It’s important to note that these steps may vary slightly depending on the specific laws and regulations in Norfolk, so you should check the city’s website or contact the Department of Neighborhood Development Services for up-to-date information and guidance. Learn More about Norfolk --- > Follow the 4 steps needed to register your rental property with the city of Harrisburg and start building your income from your property! - Published: 2023-02-22 - Modified: 2024-01-09 - URL: https://www.home365.co/growth-markets/rental-registration-harrisburg/ - Categories: Growth Markets, Harrisburg In Harrisburg, Pennsylvania, rental properties are required to be registered with the city. This is a process through which property owners provide information about their rental units. The purpose of rental registration is to ensure that rental properties meet certain standards and conditions, such as having working smoke detectors and to provide a way for the city to track and inspect properties to ensure compliance with these standards. Rental registration may also be required to obtain a rental license, which is needed to legally operate a rental property in Harrisburg. To register a rental property, property owners must complete a rental registration form and submit it to the city, along with any required fees. To complete rental registration in Harrisburg, Pennsylvania, you will need to follow these steps:Obtain a business privilege property owner license: You can find this form on the city’s website, or you can request a form from the Department of Code Enforcement. You will need ownership information as well as property insurance information. Submit the form and required documents: Once you have completed the form and gathered any required documents, you can submit them to the Department of Code Enforcement either in person, by mail, or online. Pay any required fees: There is a $50 fee associated with rental registration in Harrisburg. Be sure to check the city’s website or contact the Department of Code Enforcement to determine what fees may apply to your property. Wait for approval: After you submit your rental registration form and required documents, the city will review your application and determine whether your property meets the necessary standards and conditions. If approved, you will receive confirmation of your rental registration. If there are any issues with your application, you may be required to take additional steps to bring your property into compliance. Additional information about rental registration requirements and procedures in Harrisburg can be found on the city’s website or by contacting the city’s Department of Code Enforcement. More Information on Harrisburg --- > Learn from this 5 step guide how to register your short term rental property with the city of Virginia Beach and start making income! - Published: 2023-02-22 - Modified: 2023-03-22 - URL: https://www.home365.co/growth-markets/rental-registration-virginia-beach/ - Categories: Growth Markets, Norfolk Virginia Beach requires that only short-term rental properties be registered with the city. Registering a rental property includes obtaining a rental permit and passing an inspection to ensure that the property meets city code requirements. To complete rental registration in Virginia Beach, landlords must follow these steps: Obtain a rental permit application from the Department of Housing and Neighborhood Preservation or download it from the city’s website. Fill out the rental permit application completely and accurately, including providing the names and addresses of all tenants. Submit the completed rental permit application along with the required fee to the Department of Housing and Neighborhood Preservation. Schedule and pass an inspection of the rental property to ensure that it meets all city code requirements. Once the inspection is passed and the application is approved, the property owner will receive a rental permit. The permit should be posted in a visible location on the property. Renew the rental permit annually, and schedule and pass an inspection every three years or whenever tenants change. It’s recommended to check in with the Department of Housing and Neighborhood Preservation or the city’s website for any recent changes or updates on the process and requirements, as they might change over time. Learn More about Virginia Beach --- > Follow our guide to learn the 5 steps needed to register your rental property with the City of Wilkes-Barre. Start generating money from your property! - Published: 2023-02-22 - Modified: 2024-01-09 - URL: https://www.home365.co/growth-markets/rental-registration-wilkes-barre/ - Categories: Growth Markets Wilkes-Barre, Pennsylvania, is a city located in the northeastern part of the state, and like many municipalities, it has regulations in place for the registration of rental properties. In Wilkes-Barre, rental properties are required to be registered with the city and to pass an inspection before they can be rented to tenants. The inspections are carried out by the city’s Code Enforcement Department and cover areas such as electrical and plumbing systems, heating and cooling systems, and the overall condition of the property. Once the property passes inspection, the landlord will be issued a rental registration certificate, which must be displayed in the rental property. Here’s a step-by-step guide to the process:Complete the residential property rental license and inspection application: This application and inspection needs to be completed every two years and has a $50 fee per building for the rental license and a $100 fee for an inspection per unit. The Code Enforcement Department will contact you by phone or email to schedule an inspection. Before the inspection, the property owner must ensure that the property complies with all local codes and regulations. Pass the inspection: After the inspection, the inspector will provide a list of any violations or deficiencies that must be corrected before the property can pass. The landlord must then make the necessary repairs or upgrades for the property to be compliant with the local codes and regulations. Obtain rental registration certificate: Once the property passes the inspection and all necessary repairs or upgrades have been made, the property owner will be issued a rental registration certificate. Display the certificate: The rental registration certificate must be displayed in a prominent location in the rental property, usually somewhere in the front of the building, such as the front door or window. In addition to the initial registration and inspection, rental properties are also subject to inspections every two years to ensure that they continue to meet the necessary standards. Landlords are also required to provide their tenants with certain information, such as contact information for the property owner or property manager and information about emergency procedures. It is important to note that the rules and regulations may change over time, so checking with the Wilkes-Barre Code Enforcement office to confirm the current rules and regulations and ensure you stay compliant is recommended. More information --- > Learn the 4 steps on registering your rental property with the city of Scottsdale and obtain a rental registration certificate. Start to build your income! - Published: 2023-02-22 - Modified: 2023-03-16 - URL: https://www.home365.co/growth-markets/phoenix/rental-registration-scottsdale/ - Categories: Phoenix The city of Scottsdale, Arizona, requires that all rental properties be registered with the county. This includes both residential and commercial properties. The property owner or manager is responsible for registering the property and obtaining a rental registration certificate. There may be fees associated with this process. It is important to note that rental registration is separate from required business licenses or permits. To complete the rental registration process in Scottsdale, you may register online using these steps if not registering online:First, gather the required documents: You will need to provide the following documents to register your rental property: A completed rental registration applicationA copy of the lease agreement or rental agreementProof of ownership of the property (such as a deed or mortgage statement)A copy of the property’s insurance policySubmit the required documents: You can submit the required documents either in person at Scottsdale City Hall or by mail. The address for the City Hall is Scottsdale City Hall, 3939 N. Drinkwater Boulevard, Scottsdale, AZ 85251. Pay the required fees: There may be fees associated with the rental registration process. The city of Scottsdale’s website should have information about the current fees. Obtain a rental registration certificate: Once your application and required documents have been reviewed and approved, you will receive a rental registration certificate. This certificate must be displayed at the rental property in a visible location. It is important to note that you may need to renew your rental registration certificate annually and that you must notify the city of any changes to the property or to the owner or manager information within 10 days. You can find more detailed information about the rental registration process on the city of Scottsdale's website. We recommend contacting the city directly if you have any specific questions or need further assistance. More Information on Scottsdale --- > Learn the 6 crucial steps to register your rental property with the City of Reading, PA. Start collecting money from your property today! - Published: 2023-02-22 - Modified: 2024-01-09 - URL: https://www.home365.co/growth-markets/rental-registration-reading/ - Categories: Growth Markets, Reading The city of Reading, Pennsylvania, requires landlords to register their rental properties with the city. This requirement applies to all rental properties in the city, including apartments, houses, and other dwelling units. The purpose of the rental registration program is to ensure that all rental properties meet basic health and safety standards and to provide a means for the city to track and inspect rental units. Property owners are required to register their rental properties annually and pay a fee for each unit they rent out. Landlords are also required to provide the city with information about the owner of the property, the units, including the number of bedrooms, and the type of heating and plumbing systems. To complete rental registration in the city of Reading, you will need to follow these steps:Obtain a business privilege license. You can find instructions on the city's website. Obtain a rental registration application. You can get an application online on the city of Reading’s website or by contacting the Department of Code Enforcement. Fill out the application. You will need to provide information about the rental property, including the address, number of units, and the names and contact information of the owner and any property managers. Pay the rental registration fee. The fee is based on the number of units in the property and ranges from $35 for a single unit to $70 for a four-unit property. Submit the completed application and fee. You can submit the application and fee online or by mail to the Department of Code Enforcement. Wait for approval. Once your application is received, it will be reviewed by the city to ensure that the property meets basic health and safety standards. If the property is approved, you will receive a rental registration certificate. It’s important to note that property owners are required to register their rental properties annually, so you will need to repeat this process every year to maintain your rental registration. If you have any questions about the rental registration process, you can contact the Department of Code Enforcement for more information. If you are a landlord in the city of Reading, you can find more information about the rental registration program and how to register your property on the city’s website or by contacting the Department of Code Enforcement. Learn More about Reading --- > In Las Vegas, a legal eviction process must be followed. For more information on eviction legalities in Las Vegas and other areas, learn more from Home365! - Published: 2023-02-22 - Modified: 2023-11-13 - URL: https://www.home365.co/growth-markets/las-vegas/eviction-process-las-vegas/ - Categories: Las Vegas In Las Vegas, NV there are multiple reasons an eviction can proceed but a legal process must be followed. Las Vegas requires all evictions to start with a notice. There are several types of notices to choose from, like 7-day or 30-day, depending on the reason for eviction. Some evictions require a secondary notice to be served prior to eviction. Some notices require a tenant’s right clause to be printed on it. Notices are $55. 00 or $75. 00 each depending on where the property is located. Evictions in Las Vegas can take anywhere from 10 days to 180 days, depending on the circumstances. Court InvolvementAt the expiration of the notice, excluding the date of service, weekends and holidays, the court will allow the owner to file a motion for summary eviction with the court of proper jurisdiction. Eviction Costs are between $250. 00-$275. 00 this includes court costs and Constable Mileage fees. Make sure to have a copy of the lease handy at this time. Is it important to note, the tenant may contest this filing and file an answer with the court within the time indicated on the notice. If this is the case a hearing will be set within 7-14 days. If there is no answer by the tenant the Court will sign the order and authorize the 24 hour lockout. A 24 hour notice is served to the tenant requiring the tenant to vacate the premises within 24 hours. If the notice is served on a Friday, the lockout would be on the next business day. Tenant RemovalAfter the 24 hour notice is served the Constable will return to the property and remove the tenants. All access doors to the property must have the locks changed at the time of lockout, so a locksmith will need to be present. Tenant Property SafeguardWhen an eviction is complete, Nevada Revised Statute 118. 460(1) requires the landlord to safeguard the former tenant's property for thirty days. It does not need to remain in the unit, and may be inventoried, moved, and stored elsewhere. The landlord may also charge and collect reasonable and actual costs incurred for that inventory, moving, and storage prior to releasing the property to the former tenant. Full Service Property Management with Home365The process surrounding eviction can be confusing and time-consuming. Having a Las Vegas property management company oversee your rental property helps assure occupancy with high-quality tenants. Should the need for an eviction arise, a property management company can follow the process in compliance with state and local laws. Home 365 offers a full suite of property management services that allow property owners to keep their dwellings at full occupancy without the stress that can come with the process. For more information about our process and tools, please contact us. Las Vegas Property Management Services --- > Learn the information you need to register your rental property with the City of Allentown to start making money from your property! - Published: 2023-02-21 - Modified: 2023-03-16 - URL: https://www.home365.co/growth-markets/allentown/rental-registration-allentown/ - Categories: Allentown To register your rental property in Allentown, you’ll need to complete an applicationand submit it to the address on the application. The application may require information such as the address and number of units in the property, the names and contact information of the property owner and tenant, and any other relevant details. The rental inspections department will then contact you to schedule a rental inspection. Any applicable fees will need to be paid at that time. Also, note that an application must be submitted to the city with the change of any information. Finally, it’s important to note that local laws and regulations change, so please refer to the local authority for the most up-to-date information and accurate process for rental registration in Allentown, PA. Learn More --- > Learn the 4 steps necessary to register your rental property with the City of Baltimore and start collecting your passive income! - Published: 2023-02-21 - Modified: 2023-09-19 - URL: https://www.home365.co/growth-markets/baltimore/rental-registration-baltimore/ - Categories: Baltimore In the city of Baltimore, Maryland, rental registration is a process by which rental property owners are required to register their rental units with the Baltimore City Department of Housing and Community Development. This process helps the city maintain accurate records of rental units and ensures that rental properties meet certain standards of habitability. Registration is required by law for rental properties within the Baltimore city limits. A landlord may not, by law, evict a tenant from their property if the property is not in compliance with a valid rental registration. To register a rental property in Baltimore, you will need to log onto Baltimore City Department of Housing and Community Then create an account, and choose Property Registration and Rental Licensing online service. To complete rental registration in Baltimore, you will need to follow these steps: Gather the necessary information and documents. You will need to provide information about the rental property, including the address, the number of units, the type of property (e. g. , house, apartment, etc. ), and the name and contact information of the owner and property manager. You will also need to provide proof of property ownership, such as a deed or mortgage statement. The property will need to pass a rental inspection that you will need to schedule with an authorized third-party inspection company. In addition, the property, if built before 1978, will need to be lead tested, regardless of the age of the tenant(s). Some third-party inspection companies provide both rental inspection and lead testing. One such company, for example, that we have utilized in the past and highly recommend is Home Inspector MD. Upon receipt of passing inspection and lead test, all documents will be uploaded into Baltimore’s portal. After the city has reviewed all the documents, a certificate of rental registration will be issued. The registration will need to be renewed yearly. More Information about Baltimore --- > Follow these 4 steps that are necessary to register your rental property with the City of Bethlehem and start collecting your passive income! - Published: 2023-02-21 - Modified: 2023-03-16 - URL: https://www.home365.co/growth-markets/rental-registration-bethlehem/ - Categories: Growth Markets The city of Bethlehem requires that rental properties be registered with the city and inspected. It is also required that all property owners submit Business Registration/Mercantile Application Landlords must register their rental properties with the city. This often requires filling out an application form and providing information such as the addresses of the properties, the number of units in each property, and the names and contact information of the landlords and tenants. Landlords must renew their rental registration on an annual or biannual basis. Landlords must ensure the rental units meet the standards for safe and sanitary housing established by the city. This will include regular inspections to ensure that units meet health and safety codes, and an inspection form must be completed and mailed in, along with the appropriate payment. Landlords must provide tenants with information about the rights and responsibilities outlined by the city of Bethlehem. Landlords must pay fees for registration and renewal of the registration as well as inspections and business license. Learn More --- > Learn 3 important steps to registering your rental property with the City of Chicago and start generating your passive income! - Published: 2023-02-21 - Modified: 2023-09-19 - URL: https://www.home365.co/growth-markets/chicago/rental-registration-chicago/ - Categories: Chicago In unincorporated Cook County of Illinois (this excludes Chicago city limits), the Rental Registration and Inspection Ordinance requires property owners to register their rental properties with the city if they have more than four units and to have those properties inspected for code violations. The ordinance applies to all rental properties in the city, including apartments, houses, and condominiums. Landlords must register their properties every year and must make any necessary repairs to bring the property into compliance with city codes. The goal of the ordinance is to ensure that rental properties in unincorporated Cook County are safe and habitable for tenants. To complete rental registration in Chicago, landlords must follow these steps: Obtain a rental registration license: Property owners may apply for a rental registration license through the city of Chicago’s Department of Buildings. This can be done online or in person at the department’s offices. Landlords will need to provide information about the rental property, including the address, the number of units, and the owner’s contact information. Pay the rental registration fee: Property owners must pay an annual fee to register their rental properties. The fee is based on the number of units in the property and ranges from $60 to $3,000. Renew the rental registration: Landlords must renew their rental registration annually by paying the yearly fee. If you have any further questions about rental registration in Cook County, you can contact the Department of Buildings for more information. Learn More about Chicago --- > Follow these 5 steps to registering your rental property with the city of Phoenix and lets start building passive income! - Published: 2023-02-20 - Modified: 2023-03-16 - URL: https://www.home365.co/growth-markets/phoenix/rental-registration-phoenix/ - Categories: Phoenix Phoenix requires property owners to register their rental property as part of the Phoenix Rental Registration and Inspection Program. This program is designed to ensure that rental properties in the city meet basic health and safety standards as well as to provide a mechanism for addressing complaints about rental properties. Property owners must register their properties with the city every two years and provide contact information for themselves and their tenants. To complete the rental registration process in Phoenix, you will need to follow these steps:STEP (1)Gather the necessary documents. You will need to provide the city with information about your rental property, including the address, the number of units, and the names and contact information of your tenants. You will also need proof of property ownership, such as a copy of your deed or mortgage. STEP (2)Complete the rental registration application: You can obtain a rental registration application from the city’s Neighborhood Services Department or download it from the city’s website. You must fill out the application and provide all the required information. STEP (3)Submit the application and documents. Once you have completed the rental registration application and gathered all the necessary documents, you can submit them to the city in person or by mail. You will need to pay a fee to register your rental property. STEP (4)Wait for approval. After you submit your application and documents, the city will review them and determine whether your rental property meets the necessary health and safety standards. If it does, you will be approved for rental registration. If not, you will need to make any necessary repairs or improvements before approval. STEP (5)Renew your registration. You will need to renew your rental registration every two years. The city will send you a renewal notice before your registration expires. After that, you must submit a new application and pay a renewal fee to keep your registration active. Contact the city’s Neighborhood Services Department for more information if you have questions about the Phoenix Rental Registration and Inspection Program. More Information about Phoenix --- > Renting out your property in York PA? Learn what is needed to register your rental with the city and start generating income! - Published: 2023-02-20 - Modified: 2023-03-16 - URL: https://www.home365.co/growth-markets/york/rental-registration-york/ - Categories: York York, Pennsylvania, requires all rental property to be registered with the city. To register your rental property, you will need to complete a Tenant Occupied Application and submit it to the city’s Bureau of Housing and Community Development. The form can be obtained online by creating an account here or in person. You will then click the link for Permits and Inspections, then click Tenant Occupied Application. Applicable fees must be paid at this time. If you prefer to pay in person, you must apply in person. In addition to the Rental Registration Form, you will need to provide the following information and documents:A copy of the property owner’s driver’s license or government-issued identificationA copy of the property owner’s deed or proof of ownershipThe names and addresses of all tenantsThe date the property was first occupied as a rentalThe type of heating and cooling systems in the rental unitThe number of bedrooms in the rental unitThe number of parking spaces available for the rental unitThe city will contact you to schedule a rental inspection which must be passed to have the rental license issued. Once your Rental Registration Form and supporting documents have been received and reviewed, you will be issued a rental license. This license must be displayed in a visible location on the rental property. If you have any questions about the rental registration process in York, Pennsylvania, you can contact the Bureau of Housing and Community Development at (717) 849-2261 More Information on York, PA --- > Learn the 3 steps necessary to register your rental property with the City of Lancaster and start collecting your passive income! - Published: 2023-02-20 - Modified: 2024-01-09 - URL: https://www.home365.co/growth-markets/lancaster/rental-registration-lancaster/ - Categories: Lancaster In Lancaster, Pennsylvania, rental properties must be registered with the city. Property owners must register their rental properties and pay a fee for each unit. The purpose of the rental registration program is to ensure that rental properties in the city meet minimum standards for health and safety. Property owners must comply with this requirement, as failure to do so can result in fines and other penalties. To complete rental registration in Lancaster, you will need to follow these steps:STEP (1)Fill out the rental registration application: Then provide all required information, including the address of the rental property, the number of units, and the names and contact information of the owner and any property managers. STEP (2)Submit the completed application and pay the required fee. The fee for rental registration varies depending upon the type of dwelling and the number of units; for the most accurate fees, See The ApplicationSTEP (3)Once your application has been approved, you will be notified by mail of an upcoming inspection with a code enforcement officer. Upon passing the inspection and other city stipulations, you will receive a rental registration certificate valid for two years. You should keep this certificate on file and make it available to the Code Enforcement Office upon request. It is important to note that you must renew your rental registration bi-annually. Failure to do so can result in fines and other penalties. If you are a property owner in Lancaster and need more information on registering your rental property, you can contact the city’s Code Enforcement Office. Learn More About Lancaster --- > Learn the 5 steps necessary to register your rental property with the City of Scranton and start collecting your passive income! - Published: 2023-02-20 - Modified: 2023-03-16 - URL: https://www.home365.co/growth-markets/scranton/rental-registration-scranton/ - Categories: Scranton Scranton, Pennsylvania, requires property owners to register their rental properties with the city. The process includes providing information about the property, including its address and the number of units, as well as the contact information for the property owner and any property management company that may be responsible for the property. There is a $45 fee to register a rental property. The city also requires property owners to obtain a rental license for each unit in their rental property. This license must be renewed annually and is typically obtained as part of the rental registration process. There are certain rules and regulations that property owners must follow in Scranton, including:Maintaining the property in a safe and livable conditionComplying with building and housing codesProviding the tenant with a copy of the city’s housing codePosting the city’s emergency contact information in a conspicuous place in the rental unitThe process for completing rental registration in Scranton includes the following:STEP (1)Gather the necessary information. This will typically include the property’s address and the number of units, as well as your contact information and the contact information for any property management company that may be responsible for the property. In addition, insurance policy information, including the insurance company name, policy number, and the expiration of the policy are required. STEP (2)Complete the registration application: You must complete an application for rental registration. This will typically be available on the city’s website and can be obtained from the city’s housing department. STEP (3)Submit the application and pay the registration fee. Once you have completed the application, you will need to submit it to the city along with the appropriate fee. The fee is $45 per unit for the property and is typically paid annually. STEP (4)Keep records. It is important to keep accurate records of the registration and licenses. You should also be aware of the expiration date of the registration and renewal date of the rental licenses. You will need to renew the licenses and re-register the property in the time specified to avoid penalties. In addition to the above requirements, it’s also very important to familiarize yourself with the laws governing residential rental properties in the state of Pennsylvania, especially those related to landlord-tenant relationships, security deposits, lease agreements, and other important aspects of the rental. More Information about Scranton --- > Passive real estate allows an investor to start gaining capital without having to put in a lot of hard work. - Published: 2022-06-27 - Modified: 2023-07-11 - URL: https://www.home365.co/general-knowledge/real-estate-investing/what-is-passive-real-estate-investment-and-how-does-it-work/ - Categories: Real estate investing How Much Work Is It Really to Use a Company or a Management Company Rentals Service? Passive real estate investment is a potentially lucrative way to make your money work for you. This form of investing allows you to take a passive role in securing and maintaining your investment real estate property. This differs from active real estate investment which requires more hands-on interaction with the property. There are some misconceptions as to what passive real estate investment really means. Some think of it as a simple process of buying a piece of property and renting it out for income. This is not necessarily what passive real estate investment refers to. Passive real estate investment would include selecting a property to purchase, then choosing a property management company to make regular decisions concerning marketing, tenant screening, maintenance, and other daily operations of a property. If an investor chooses not to outsource these tasks, the responsibility to manage the daily tasks of owning the property would fall on them. This is commonly referred to as active real estate investing. What Is Active Real Estate Investing? Active real estate investing means the investor is directly involved with their property investment. This includes purchasing the property, marketing it, selecting tenants, collecting rent, and taking care of maintenance requests. This is essentially taking on the role of a landlord. This can be a great option for an investor who is located in the area, has experience handling these different tasks, has great people skills, and has the time and willingness to spend the majority of their time dealing with the investment property. Active real estate investing is also common for investors who are interested in flipping properties. This involves purchasing a home that is available at a lower cost due to needing extensive repairs or being outdated. The purchaser remodels the home, selling it for a higher profit. This form of investment doesn’t typically involve any renting, or residency within the property until it is sold again. Why Choose a Passive Real Estate Investment? Passive real estate investment provides passive income. This can be beneficial for those who want to make a profit or generate an income without adding further responsibilities to their plate. This is also a great opportunity for those who are newer to the world of real estate investment and don’t have a lot of upfront capital with which to work. Passive income refers to an income stream that is automated to some extent. This is typical in situations where an upfront capital investment is made which provides some kind of ownership stake in the property. The investor is then paid regularly whether that be through share dividends or rent. This is considered passive income because the investor is not directly managing the investment. Passive real estate investment is a form of real estate investing where an investor will put capital into a venture knowing that there will be no need for direct involvement or responsibility when it comes to managing the property. With passive real estate investment, you don’t have to deal with the property in person. You may not even ever see the property. Passive real estate investment is ideal for those who don’t necessarily have, or don’t want, a lot of experience with property management. This allows investors to keep their focus on real estate investing, allowing them to potentially grow their business to include more properties. Different Ways to Get Involved in Passive Real Estate Investment Passive real estate investment can take on many forms of investment. It largely depends on what is best for the investor. All passive real estate investment opportunities have the capability of providing real passive income, helping to build an investor’s portfolio and their steady cash flow. It is beneficial to understand the different types of passive real estate investment to determine what kind of investment is best for you. Crowdfunding Crowdfunding is a popular method for investors to gain capital and better their investment portfolio. Crowdfunding operates by having several investors come together to pool their available resources and invest in a larger project. This is a great way for newer investors to get involved. If you are newer to the real estate investment world, you likely won’t have the upfront capital to fund a major purchase, such as an apartment complex. Crowdfunding allows an investor to get involved in an investment that may have been impossible to tackle alone. Crowdfunding typically takes place entirely on an online platform that allows a convenient way for multiple users to pool their funds and invest indirectly in mortgage loans anywhere throughout the country. Real Estate Investment Trusts (REITs) REITs are another type of passive real estate investment. This passive real estate investment involves different companies that operate as trusts. These companies invest in various real estate and pay the profits made as shareholder dividends each year. This is another great way that investors can pool their capital together to have the opportunity to invest in large real estate deals. When using this form of passive real estate investment, you don’t have to worry about caring for the property, collecting rent, or maintaining the property. REITs are usually publicly traded in a fashion similar to stocks. This type of passive real estate investment tends to be less risky, but it also doesn’t grow or appreciate in value as much as other investments might. Real Estate Funds This passive real estate investment is a type of mutual fund that invests in public real estate securities which can sometimes include REITs. The types of investments could include real estate development companies, large real estate brokers, or construction companies. This means that real estate funds tend to be more diversified, allowing an investor the opportunity to invest in many different types of properties. This type of investment is typically more of a long-term investment that can provide value and capital through appreciation rather than dividends. One of the biggest perks of this passive real estate investment is that it is managed by professionals. This saves investors the worry of having to do extensive research to ensure they are investing their capital into the right real estate. Remote Ownership This type of passive real estate investment provides a bit more control than the other passive real estate investment options. This is a good option for investors who want some form of involvement, but not the full involvement of a landlord. This involves owning a real estate property but relying on a professional property management company to take care of general operations and upkeep. When choosing remote ownership, an investor usually keeps tabs on their property either digitally or over the phone. This is great for investors who want to take advantage of real estate in areas that are in high demand without having to worry about being directly in the area. Remote ownership is a great option for investors who are interested in passive real estate investment but find it rewarding to play a role in the investments they make. This can be a great opportunity to branch out from other forms of passive real estate investment that don’t require a lot of knowledge or experience. This investment opportunity can also provide a better return on investment, tax incentives, and the ability to stand out as an independent investor. Benefits of Passive Real Estate Investment There are several benefits for investors who choose the route of passive real estate investment. It is helpful to understand the different perks of choosing the passive real estate investment route. No matter what type of investment you choose, these benefits apply to all different types of passive real estate investment. Minimum Capital This includes the ability to start investing passively without the need to have a lot of capital to invest right away. Investment types, such as crowdfunding or REITs, allow investors to come together to maximize the benefit of selecting a larger size property. These also provide a great opportunity to learn from other investors before putting more capital into play. Don’t Need Extensive Knowledge With passive real estate investment, you don’t need to have extensive investing knowledge. No matter what form of real estate investment with which you get involved, there is always the risk of investing in a property that may deal with constant vacancies or depreciate in value which could hurt your profits. With certain forms of passive real estate investment, the amount you lose can be significantly less when pooling with other investors. This is also a great opportunity to learn from both successes and failures of investment. Investors can make more informed choices when choosing how they will proceed with subsequent investments, choosing to go in with only a few other investors or investing solo. Less Time and Commitment Passive real estate allows an investor to start gaining capital without having to put in a lot of hard work. As a passive investor, there is no physical labor involved, nor do you have to be involved in the operation of the property unless you choose to do so, such as choosing remote ownership. With passive real estate investment, an investor essentially invests their available capital and sits back to watch it grow. While you still have to invest wisely, you’ll be able to use your time to explore your next investment opportunity. Get Free Quote --- > Once you purchase your investment property, the professionals at Home365 can help manage every aspect of your new property. - Published: 2022-06-27 - Modified: 2023-07-11 - URL: https://www.home365.co/general-knowledge/real-estate-investing/property-investment-how-to-become-a-property-manager-investor/ - Categories: Real estate investing How Much Work Is It Really to Use a Company or a Management Company Rentals Service? There are several reasons why it is beneficial to become a property manager investor. Many investors know what real estate can provide a return on investment. However, some may be unsure of how to get started. To become a property manager investor, there are a few important aspects to consider before jumping right in. Why Invest in Property? When considering how to become a property manager investor, it is helpful to understand the perks of investing in property in the first place. These perks include: Steady cash flow – Investing in property is a great way to boost your monthly income. Both commercial and residential properties can provide the opportunity to rent out space. This allows you to add income every month without having to work for it every single day. This cash flow can be used to invest in more properties or to improve your existing properties. This is a great way to quickly build your professional portfolio. Great returns – When investing wisely, you can choose properties that show great potential when it comes to increasing in value. When and if you decide to sell that property, you can sell it for a solid profit. Diversification – Investing in property can help protect you in times when other investments may be hurting due to economic issues. Investment properties could continue to increase in value, helping to protect you from losses in other investment areas. Long-term security – There will always be a demand for real estate. People will always need a place to live or conduct their business. When considering why you should become a property manager investor, knowing that there will always be a need for your investment is a strong incentive. Passive income – Unless you want to be heavily involved when it comes to the operations of your property, you can consider your investment a passive income. By collecting rent checks, you are adding to your cash flow without having to work daily to earn it. How passive of a role you take depends on your willingness to allow a property management company to handle your day-to-day operations. Tax advantages – Owning different properties can benefit you when it comes to tax time. When you own investment properties, you will be able to deduct several expenses. These expenses include mortgage interest, property taxes, property management fees, property insurance, and any costs of ongoing maintenance. Protection from inflation – Inflation can hurt certain investment opportunities. However, inflation often rises the prices of goods and services while also increasing home values and rents. This allows you to protect your financial investment by changing with inflation and shifts in the market. Leverage funds – Unless you have significant money available, you’ll likely need to borrow money from a bank, credit union, or other mortgage lenders to cover the initial purchase of the property. Having existing operational properties that can be leveraged can help you secure the funds you need to continue to expand your portfolio. Chance to build capital – A great reason to become a property manager investor is that it provides an opportunity to build real capital. This all depends on your ability to invest wisely. This also depends on your ability to successfully operate the property if used for rental income. Like any investment, you’ll want to conduct your research first to ensure you are choosing a property that will support your desire to increase your income. Fulfillment and control – When you become a property manager investor, you have the opportunity to be your own boss. You are in control of what happens with the property. You can also make a difference in your community by investing in and improving properties in your area. How to Become a Property Manager Investor Before diving into the purchase of investment properties, you’ll want to determine your investment strategy. There are three main strategy types that you can consider. These strategies include: Active – This investment strategy is for investors who want to participate in several aspects of owning their property. This often involves investors who are interested in fixing and flipping homes, those wholesaling to other investors, or those who want to find and manage properties themselves. This strategy is best for those who don’t plan on operating more than a few properties at a time. Owning just a single investment property can be demanding, especially when it comes to working with renters. This investment strategy often works best for those who are in the area as well. This makes it easy to directly oversee what is happening, as well as be there when you are needed. Mostly passive – This type of investment strategy is important to consider if deciding to become a property manager investor. This investment is ideal for those who are looking to invest in properties that provide a recurring cash-flow stream and long-term property appreciation. This type of investment strategy can include partnering with other investors. It can also include purchasing properties that are professionally managed. Passive – This investment strategy involves buying shares through crowdfunding and REITs that are fully managed by a third party. Determining your investment strategy is the first important step when you decide to become a property manager investor. Many investors who want to expand their portfolio while remaining passive often choose this strategy. This strategy allows you to maintain control of your property while also allowing you to trust a third party to manage your investment property. Several reasons why an investor may choose this route include:Owning multiple rentalsBeing able to afford the services of a management companyLooking for business growth opportunitiesThe property is part of an affordable housing programLiving outside the property area Be an Expert in Property Investment In addition to knowing your investment strategy, you’ll also want to become an expert in your field. You have to have the ability to make wise decisions when it comes to investment properties. Poor choices can result in purchasing properties that end up costing you instead of making you money. You want to have a complete understanding of what you are doing when you decide to become a property manager investor. The most successful investor is always learning. There are several different ways you can learn more about what you want to do. This includes:BooksInvestment clubsOnline lessonsSeminars and workshopsReal estate school Taking courses and learning from the experiences of others can help you gain the confidence you need to step into the lucrative world of property investment. Know the Market The next important step to consider when deciding to become a property manager investor is to understand the market. The housing market has its ups and downs. You want to make sure you are getting a good deal when choosing to invest in a property. This is especially true if you are looking to purchase a property that isn’t in your area. You’ll want to consider fair market property values and whether they are currently trending up or down. Understanding the market helps you to better understand the income potential of your property. You want to protect yourself from overpaying, and you want to invest in a property that is cash-flow positive. Learn Local Rules and Laws If you are renting to the public, you’ll need to understand what to do in a variety of legal situations. You want to make sure that your rental property adheres to laws enforced in the area. You also want to know how to protect yourself and your property if problems occur with tenants. You should have a clear understanding of how to properly complete background checks while still considering everyone fairly and equally. You’ll also want to understand what rights you do and don’t have when it comes to the eviction process. You also want to know about any laws pertaining to security deposits, prepayments, and insurance coverage for rental properties. Invest in a Property Manager When deciding whether or not to become a property manager investor, you have many different aspects to consider. You want to make sure you can secure the purchase of a property that will ultimately prove beneficial for your investment portfolio. You’ll also want to determine what investment strategy is best for you. Many investors choose a mostly passive role. This allows them to maintain a steady cash flow while trusting in a property management company to handle the bulk of daily operations. Property management companies help to protect and enhance investments by taking care of marketing, filling vacancies, collecting rent, and performing necessary maintenance. This allows you as an investor to focus your attention on your next investment opportunity. How to Become a Property Manager Investor There are several steps to consider when you decide to become a property manager investor. This starts with understanding why you want to do it, and how you are doing to get started. There are numerous tools available to help you grow as an investor. Once you purchase your investment property, the professionals at Home365 can help manage every aspect of your new property. Contact us to learn more about protecting and growing your investment property. Get free quote --- > Requiring renter’s insurance is a good idea for a rental property management company. Contact Home365 to learn more. - Published: 2022-06-27 - Modified: 2023-03-14 - URL: https://www.home365.co/general-knowledge/property-management/why-a-rental-property-management-company-should-require-renters-insurance/ - Categories: Property management How Much Work Is It Really to Use a Company or a Management Company Rentals Service? A rental property management company helps property investors by running their daily operations. This includes marketing vacancies in the property, screening applicants, collecting rent, handling maintenance requests, and ensuring that tenants are happy and satisfied with their stay. In a sense, a rental property management company is there to protect and further build the initial investment of the purchase of the property. Depending on the desired role a property owner wants to take, a rental property management company essentially runs the entire business. Tenants will use their online portals to pay rent, submit maintenance requests, and for most forms of communication. Creating A Lease A rental property management company usually creates its applications and lease terms, which are approved by the property owner. This is because a rental property management company understands both local and state law when it comes to ensuring that the lease is clear, legal, and has the best interests in mind of all parties involved. The lease typically includes what rental amount is expected each month, the length of the lease, and any requirements or rules that could terminate the lease, such as a clear understanding of pet policies or how many individuals can be in the unit. Adding Renter’s Insurance An important aspect a rental property management company needs to consider is whether or not they should require renter’s insurance. This is an optional decision that can be made by either the property owner or the rental property management company. Renter’s insurance isn’t just to help renters save money and protect their property, it also saves money and stress for the property owner and the rental property management company. To put it simply, it is a win for everyone. Residents get coverage, and the company and owner are protected from having to cover repairs due to damages caused by the renter. This also protects from having to replace the damaged property that renters can’t afford. Basics of Renter’s Insurance A rental property management company should seriously consider requiring renter’s insurance for all tenants. This helps to protect all parties involved. This type of coverage can even protect a resident visitor in certain circumstances. In many instances, renters may not be aware of what renters’ insurance is and why it can help them. A rental property management company must take the time to learn this information as well. Different types of renter’s insurance covering tenants are available. The most common policies are for personal property, liability, and relocation. Personal Property Coverage Personal property coverage helps to protect against theft or damage to personal possessions within a renter’s unit. This is vital coverage to have for both tenants and a rental property management company. Without coverage, a tenant may seek a replacement from the rental property management company. This can lead to stressful, time-consuming communications and possible litigation depending on the circumstances involved in the property damage or theft. Depending on the situation, the renter’s insurance personal property coverage can also cover another person’s property that is damaged or stolen within the apartment. Personal property coverage can protect against theft. Theft can happen any time, anywhere, even in locations that are considered safe. Even with precautions in place, such as changing door locks with each new tenant, or using a security camera system, you can’t always protect against everything. Property damage is another area where even with proper maintenance, and building inspections, things can go wrong. This could be a power surge that causes a microwave to short out or a plumbing overflow that results in damage to surrounding personal property. Having renter’s insurance with personal property coverage can protect both residents and the rental property management company. Typical damages covered by personal property coverage include theft, leaks, smoke, vandalism, snow, freezing, or falling objects. Depending on the property’s location, an individual may also be covered for earthquakes or a sewer backup. It is helpful to understand that many renter insurance providers do not cover flood damages. Liability Insurance Liability insurance is designed to help cover any unintentional injuries or harm done to someone in or near a resident’s unit. It is important to note that this is for unintentional injuries. While a rental property management company would hope an individual would never purposely hurt themselves on the property, it is better to be safe than sorry. This provides coverage if a tenant were to trip on the stairs or fall in the parking lot. Having this protection is great for both tenants and the rental property management company. Tenants have peace of mind that their injuries will be covered, and property owners and management companies won’t have to worry about having to pay for those injuries themselves. Relocation Another benefit of requiring renter’s insurance as a rental property management company is coverage for any necessary relocations. Renter’s insurance can cover cost-of-living expenses if the resident needs to move out of their unit for some time. This could be due to damage caused by smoke, fire, or water damage. Having the tenant leave the property allows the rental property management company to properly clean and make repairs to the unit. Without a renter’s insurance, a tenant may choose to simply leave the property permanently, breaking their lease and leaving the rental property management company with an unexpected vacancy that can take some time to fill. However, with renter’s insurance, a tenant is more likely to return once the unit is restored since their temporary move was covered. Cost of Renter’s InsuranceAs a rental property management company, it is important to understand the costs involved when requiring renter’s insurance for your tenants. The cost will vary depending on several different factors. One factor is the type of coverage you or your resident chooses. That is why it is helpful to shop around and explore different options in the area. Cost can also vary on the type of units, such as a single-family home, duplex, or apartment complex. The size of the building can also be a factor. If you allow pets on the premise, this could increase the rate of renter’s insurance depending on the types of pets you allow. Another important factor will be the tenant’s credit score. Regardless of all the different factors, renter’s insurance is still relatively inexpensive, especially when considering all it can protect. The average policy that includes personal property coverage, liability, and relocation can cost between $15 to $20 a month. What to Consider When Requiring Renter’s Insurance A rental property management company has a few different aspects to consider when choosing to require renter’s insurance. One important factor to consider is having the requirement clear within the lease. This ensures that the requirement is compliant with state laws. Some states do not permit requiring renter’s insurance when already within a lease. Having it in the lease upfront shows your tenants that you are serious about them having the coverage, and that is it a necessary aspect of gaining approval to move in. Know the Coverage Needed Before implementing a new renter’s insurance requirement, it is beneficial to know your area and your residents to determine the best type of coverage. You’ll want to consider the area of the property, whether it be in a safer area, or in an area that could require more coverage. You’ll also want to consider the types of residents that typically reside on your property. Coverage can be different when it comes to individuals or families. These variables can all contribute to the type of coverage needed and how much it will cost. Shop Around It is beneficial for a rental property management company to shop around for the right renter’s insurance for their property. This includes exploring national brands as well as smaller companies in the area. You want to get a variety of quotes to ensure you are choosing the best option for your tenants. Make It Easy The easier it is for the tenants to apply they will be more receptive to the new requirement. This can be as simple as providing an option to sign up through property management software as part of the onboarding process. Residents will appreciate the convenience, and it provides a clear record of which tenants are enrolled. It can also be helpful to educate your tenants on what renter’s insurance is and what it can do for them. This could be a virtual meeting or workshop to learn more. If a rental property management company chooses a specific insurance company with which to work, they can request a representative from that company to come to speak to the tenants. This provides an opportunity to highlight the benefits of having this coverage, the cost, what it covers, and answer any questions residents may have. Requiring Renter’s Insurance Requiring renter’s insurance is a good idea for a rental property management company. This shows that you care about your tenant’s possessions and their well-being. This also helps to protect the rental property management company and the property investor from unnecessary charges for damages, theft, or injury that isn’t a result of the property itself. Contact Home365 to learn more. Get Free Quote --- > Home365 is committed to providing consistent and reliable customer service to both tenants and property owners. Learn more today. - Published: 2022-06-27 - Modified: 2023-10-23 - URL: https://www.home365.co/general-knowledge/property-management/customer-service-keys-to-success-for-a-rental-property-management-company/ - Categories: Property management How Much Work Is It Really to Use a Company or a Management Company Rentals Service? A great rental property management company knows how important customer service is. A large part of property management is the importance of building and maintaining strong professional relationships with residents, owners, and vendors who all play an important role in the property’s success. Property management is a competitive market. To stay on top, a rental property management company needs to be willing to put in the time, money, and resources to grow and nurture the business. Understanding how to provide exceptional customer service can help generate more money through positive experiences and long-term residency. Customer service for a rental property management company is unlike any other industry. In the service industry, interactions are often short and targeted towards a specific interaction. In this industry, customer service revolves around the customer and their needs. The old saying “the customer is always right” applies here the most. Customer service is also a major part of corporate businesses that are usually being contacted when there is a specific issue, such as a phone not operating properly. These interactions are often short and revolve around problem-solving. For a rental property management company, customer service can be much more complex. This company is responsible for marketing, applicant screening, handling complaints, scheduling maintenance, and so much more. A rental property management company may handle the needs of a tenant over several years, adding pressure to the ability to maintain long-term customer service techniques and methods. Knowing the right way to provide the best customer service can help a rental property management company stand out from the rest. Make a Strong First ImpressionsThe customer service provided by a rental property management company can begin before the first in-person interaction. This starts with understanding how potential tenants first learn about the business. In this digital age, having a strong digital presence is key. Most consumers today are now using the internet and search engine tools to find the products and services they desire. The first interaction a potential tenant could have with a rental property management company could be through the company’s website, online reviews, or rental listings. While a rental property management company may not have control over different online reviews, they can control the way their website and rental listings are perceived. This means knowing that the company website loads quickly and is easy to navigate. Prospective tenants expect to be able to find the information they need quickly. Your website should be friendly and approachable. It should provide all the information they need concerning rental units available, costs, lease lengths, and pet policies, as well as other requirements, such as renter’s insurance. This helps to provide all the information they need upfront. Whatever transparency you can provide can go a long way when it comes to customer satisfaction. Provide a Seamless Showing ExperienceBefore meeting prospective tenants in person, it should be easy for them to request a showing of the available rental space. A rental property management company should consider providing a personalized, technology-friendly way for potential tenants to schedule showings. This helps to make a great first impression that can attract quality tenants. Property management software is a great tool to have for a rental property management company. This allows potential tenants to schedule a showing that is available faster than traditional methods of having to go back and forth either through email or over the phone. Once the showing is booked, this provides the opportunity to leave a lasting impression by meeting in person. This is when the customer service skills of the rental property management company are put to the test. It is important that the property manager arrives early and is ready to be completely attentive to the needs of the prospective tenant. Being polite and attentive is key to customer service that can start to build a lasting professional relationship. When meeting with a prospective tenant, a property manager should show genuine interest, ask important questions, participate in active listening, and make sure their phone is kept on silent. Even if there are multiple showings in one day, a tenant should still feel important. Use Digital Customer Service ToolsCustomer service goes beyond direct communications in today’s digital world. As previously mentioned, it is beneficial to use property management software that streamlines the process of requesting showings, filling out applications, and completing any necessary onboarding steps, such as signing the lease, approving a background check, or applying for renter’s insurance. An online portal helps to ensure that your tenants are always satisfied with the assistance they are receiving. Convenience is important. An online portal that can provide paperwork submission, rent payments, and maintenance requests are a great way to show tenants that you care. A rental property management company should invest in high-quality property management software to create a better experience for tenants, owners, and different interested parties within the company. Providing a clear place to submit complaints or maintenance requests can be beneficial when it comes to providing the best customer service possible. This helps to prevent any requests from becoming lost. This also helps to keep a business’s inbox from being overwhelmed. Having a resident site allows a resident to submit detailed requests and see real-time updates. This provides peace of mind that their concerns are being addressed promptly. Effectively Resolve Resident ComplaintsStrong business relationships take time to create. Showing concern and empathy helps create stronger bonds. Complaints are bound to happen at some point. How these complaints are handled can play a major role in the ability of the rental property management company to successfully handle these complaints. How the company responds is just as important as the actions that take place based on the complaint. Response time and approach are important aspects of customer service. Regardless of what the complaint is, and how much merit it has, it should still be respected and addressed. As a rental property management company, it is important to consider if a response was given quickly, whether the language used was positive or defensive, and what steps can be taken to prevent this situation from happening again in the future. Handling resident complaints involves effective communication skills that focus on attentive listening, careful response, and a commitment to see the matter through. While a rental property management company will do all they can to keep all tenants happy, this isn’t always possible. Even if the outcome isn’t what the tenant wanted, they can still appreciate the care and concern that was expressed. Being responsive shows that a rental property management company values respect and courtesy which is a great foundation for customer service. Responding quickly to any emails or requests shows that the tenant is valued. Even if a rental property management company can’t provide the information the resident needs at the time, they can still express that the concern has been received and that the tenant can expect a response shortly. Complaints can come in at any time, day or night. Understandably, a rental property management company can’t have someone available around the clock. However, it is easy to set up an automated response for after-hour messages. This can provide the tenant with information about regular business hours as well as whom to contact in case of an emergency. Be Proactive About ComplaintsGreat customer service involves the ability to be proactive. A successful rental property management company understands the ins and outs of the business. This means that there is already some knowledge about common resident concerns that could come up. The ability to address concerns before they become a problem is a great way to guarantee satisfaction for tenants and owners alike. Conduct Resident SurveysA great way to ensure satisfaction for tenants is to have the rental property management company provide their tenants with a convenient way to provide feedback. Feedback can be beneficial when provided before problems can occur. It is natural for a rental property management company to be a bit hesitant when it comes to offering feedback options. Most companies have to deal with negative feedback at some point. However, this is a great way to show tenants that their opinion and experiences matter. Addressing feedback shows a rental property management company cares and is willing to make changes necessary to increase overall satisfaction. Remain Transparent with Property OwnersCustomer satisfaction goes beyond just handling potential and current tenants. A rental property management company also needs to consider the satisfaction of the property owner. It is vital to build a strong relationship that is focused on open and transparent communication. The best way to stay transparent is to provide a portal that can help facilitate clear and consistent communication. This provides the property owner with all the information they need when they need it without having to ask. This transparency also helps to show owners how hard a rental property management company is working to maximize profits and value for the property owner. Customer Service Is KeyCustomer service skills are vital for rental property management companies. Property management is a highly competitive field, and customer satisfaction plays a major role in getting ahead. Home365 is committed to providing consistent and reliable customer service to both tenants and property owners. Employment retention in the property management industry is notoriously low. According to a survey from the National Multi-Housing Council, employee turnover rate within the property management industry is a whopping 36. 1%. By contrast, the turnover rate in retail is 27%. That means that 36% of all employees within the property management industry leave their jobs each year. How can employers combat this disturbing statistic? We’ve found four ways. Improving Employee Retention1. Improve Company CultureOne of the main reasons that good employees leave jobs, in general, is because of lacking company culture. Understanding what makes your workers tick – in this case, Millennials and Gen Z – can help you improve your workplace culture. Flexible work, like the ability to work from home or while traveling, is a huge bonus. So is competitive pay, extra benefits, and a generous PTO policy (including paid maternity and paternity leave, if possible). 2. Provide Opportunities for GrowthAnother reason good employees leave because they do not see opportunities for advancement. You can give it to them by offering tuition reimbursement, mentorship programs, and visible career tracks. Often, you’ll find that giving employees clear paths to advancement saves you money in the long run. After all, employee turnover is more expensive than investing in the ones you have, especially when you consider how it affects your company image. 3. Provide Regular, Constructive FeedbackAlso problematic is when employees don’t know how their performance relates to their peers or even expectations from management. Having no-stress sit-downs or regular meetings to discuss performance and provide feedback about job duties can be helpful – as long as the feedback is constructive and framed in a positive manner. When employees know where they stand, they are more likely to make improvements and work harder. 4. Have a Proprietary ProcessJust like tenants, employees enjoy working for a company that differentiates. Home 365 is an exciting place to work because it handles tenant management, repair and maintenance, screening, and more by leveraging the latest technology. When prospective clients ask, “Why should I use a Property Manager? ” Home 365 gives employees a lot to talk about. Learn more about what makes us different by contacting us. --- > A rental management service can take care of the daily operations of your property, as well as marketing and other aspects. - Published: 2022-06-09 - Modified: 2023-12-29 - URL: https://www.home365.co/general-knowledge/property-management/6-tips-to-finding-the-right-rental-management-service/ - Categories: Property management How Much Work Is It Really to Use a Company or a Management Company Rentals Service? Investors who own rental properties understand how demanding property management can be. Whether it's a single-family home or an apartment complex, there is always something that needs to be done. Filling vacancies, keeping tenants happy, collecting fees and scheduling maintenance — operating a rental property requires serious dedication. For investors, this demand can affect their ability to grow their investment portfolio. When it comes to freeing up time while still enjoying a steady cash flow, an investor needs to find the right rental management service. A rental management service handles the daily operations of your property, as well as marketing and other aspects that keep your property occupied with quality tenants. For example, at Home365, we complete all property management tasks for you, from tenant screening to rental repairs, with no hidden costs. As an investor, you want to choose a rental management service you can trust. A rental management service can either help or hurt your investment property. When finding the right rental management service, there are a few things to consider first. 1. Know What You Need Rental management companies are not all the same. For instance, some companies manage properties for a flat fee each month, while others charge extra for things like maintenance or repairs. With Home365, you can expect to pay the same monthly fee with our OneRate plan, free of surprise charges — no matter what. Before you begin your search, know what you need in a rental management company and how involved you want to be as an owner. Consider the number of properties you manage and their locations. Think about qualities that make you feel comfortable and confident partnering with a company, like fast response times, transparent pricing or anything else important to you. 2. Explore Referrals If possible, you should start by asking other property investors whom they trust for rental management services. This can allow you to ask specific questions concerning their unique experience. First-hand experience is a great way to get open and honest responses to your questions. You’ll be able to learn information that may not be found in online reviews or through the rental management service themselves. 3. Research Your Options It is important to take your time when seeking a rental management service. You want to explore the local options. The internet makes this easy. You can quickly search for rental management service companies in the area. This will lead you to a list of different options that could help. It is important to take the time to explore their website to gather important information. This includes learning the following details: How long they have been in business What services do they provide What technology do they use What their fees are How do they charge What locations do they cover You’ll likely also be able to find their contact information as well as testimonies from both clients and tenants. This information can be useful in helping you create an initial list of potential rental management service companies with whom you’d like to work. This list is a great place to start when moving forward. Before moving on to the next step, it is important to learn as much as you can about their level of experience. Rental management service companies offer a variety of different services based on their size and level of experience. You want to make sure that the companies you contact can handle your needs. Many companies will make it clear what kind of properties they service. If you own a larger rental complex, a company that only handles single-family homes or condos won’t be the right fit for you. 4. Look for Reviews You can save a lot of time by exploring reviews left by investors and tenants. This helps you narrow your list of rental management service companies even further. Reviews can provide real, honest feedback. It can also show you if a rental management service is willing to address any negative concerns left on their review pages. You can typically find reviews on the company website or through Google or Yelp. Taking the time to explore these reviews allows you to gather a well-rounded understanding of what others feel about working with that service. It is important to weigh the feedback, understanding that some disgruntled tenants may leave unwarranted negative feedback. 5. Interview the Top Rental Management Service Companies Once you have completed your research and checked reviews, your next best step is to start interviewing potential candidates. This doesn’t have to be a formal interview. This can start with a simple phone call or by filling out an online form if they have one. Taking the time to talk to a representative of the rental management service allows you to get answers to questions their website may not have answered. Typical questions to ask include: What types of properties are you qualified to operate? Can you provide references? What are your required licenses and certifications? What technology do you use? How much responsibility can you handle? What are your rates? How do you market open vacancies? How do you handle disgruntled tenants, late payments and evictions? How often can I expect financial reports? Getting answers to these important questions can help you narrow your list of rental management service options. This allows you to speak directly to someone within the company and gives you an idea of their professionalism and willingness to take the time to talk with you. Before committing to a specific rental management service, it is important to look at any contracts or agreements you’ll have to enter. 6. Examine Contracts Closely Before agreeing to work with a specific company, take the time to explore their contract information. This gives you a clear idea of the length of the contract, the services they will provide and what you'll be responsible for as a property owner. You must understand and agree with all information within the contract. You want to ensure that your property will be well cared for, especially if you are not located in the area and cannot check in as often as you would like. Depending on the details of the contract, you may be able to work with the rental management service to create a contract that works for you and the rental management company. This ensures that all parties are happy throughout the length of the contract. What Do Property Management Services Include? It is important to understand what a rental management service does so you know what to look for when it comes to desired qualities, experiences and services. Here's a quick overview of what property management companies typically do: Provide the different services needed to ensure your rental property is operating efficiently Provide property managers that are licensed and certified to offer exceptional care for your property Handle screening applicants, collecting rent, facilitating maintenance and filling vacancies A property manager is the individual who will represent you when you work with a rental management company. They'll interact directly with tenants and vendors to keep everyone satisfied and happy. Also, a rental management service has a network of vendors that have been carefully screened and are also licensed and certified. Maintenance, repairs and other services are crucial to ensuring your property is up to code and where renters would want to live. A rental management service company will know the best local vendors that provide competitive rates for the area. Common Responsibilities of a Property Management Company Here's what you can expect from a property management company in a bit more detail: Marketing People need to know about vacancies to ensure you can maintain a steady income. This awareness comes from smart marketing. A rental management service has experience in advertising vacancies early to fill space without a huge gap of time in between. This involves posting advertisements online, in local papers or on flyers. This also includes having clear open house opportunities for those who prefer to see the available space first. At Home365, we'll list and market your property for you on industry sites at no additional charge. Applicant Screening Having quality tenants can make a huge difference in the success of your investment property. A rental management service will take charge of the following: Screening applications Performing background checks Contacting references Interviewing potential candidates Ensuring to review tenants equally and fairly You can be sure we'll find the ideal tenant for your property with the tenant screening and selection services included with our plans. This crucial step of the process helps to avoid tenants that could cause issues for you in the future, such as tenants with a history of being a disturbance or who are known to pay late or not at all. Rent Collection A rental management service will make sure that rent is collected on time from all tenants. They will also know how to handle issues where rent is late or missing. This helps to keep your cash flow steady, as well as provide you with peace of mind that any issues will be professionally handled. Our OneRate plan guarantees 12 months of full rent, no matter what happens. Communication Rental management service companies provide expert property managers who have exceptional communication skills. Property managers have to communicate daily with tenants, vendors, and, of course, you as a property owner. Allowing a rental management service company to handle communications frees up a significant amount of your money and time. Our convenient and innovative online portal streamlines communications between tenants and our management team while keeping you updated at all times. Maintenance A rental management service handles all necessary maintenance to keep your property looking good and functioning effectively. They will coordinate with tenants and vendors to have issues addressed as quickly as possible. We take care of maintenance and repairs using dependable, local vendors at no extra charge as part of our OneRate plan. Compliance Management Legal rules and regulations can vary depending on the city and state. A rental management service will have extensive knowledge of all legal compliances when it comes to operating your investment property. Ready to Decide? Finding the perfect rental management service doesn’t have to be difficult. What it comes down to is your willingness to carefully explore your options and interview candidates to find the right fit for your property. Home365 can provide the rental management services you need. We can handle all daily operations for properties of different sizes. Contact us to find what you are looking for today. --- > Become a Property Manager & Maximize your Success -Fulfilling the essential requirements is key. Explore our expert tips - Published: 2022-06-07 - Modified: 2024-02-05 - URL: https://www.home365.co/general-knowledge/property-management/requirements-to-become-a-property-manager/ - Categories: Property management How Much Work Is It Really to Use a Company or a Management Company Rentals Service? The property management industry has been steadily expanding since 2017. Managing properties can provide several opportunities for professional and financial growth. Becoming a property manager is a great career opportunity for individuals who are self-driven, well-organized, and have a real passion for working with people in a wide range of industries and backgrounds. The requirements to become a property manager can vary depending on your location. However, becoming a property manager often involves the same basic requirements. What Is a Property Manager? Before jumping into the requirements to become a property manager, it is beneficial to understand what a property manager is and what they do. A property manager takes on the important role of operating and maintaining a wide range of different types of properties for an investor who owns the property. The tasks will vary depending on the needs of the investor. In many instances, the tasks involve ensuring the property is well maintained, that vacancies are filled, and that rent is paid in full and on-time. The typical responsibilities of a property manager include: Marketing the property – Vacancies can ultimately cost the investor financially. An unoccupied space still requires utilities, especially if part of a larger complex. This is also a significant amount of money that is lost every month. A property manager is responsible for quickly filling vacancies with quality tenants. This involves knowing the right marketing techniques and tools to appeal to a target demographic. This involves advertisement, staging open houses, and making sure the word is out to keep applicants engaged and interested. Applicant screening – No matter what type of property an individual is managing, it is important to fill vacancies with quality tenants. This involves taking the time to screen individuals. This starts with the application process and taking the time to explore financial stability, follow up with references, and carefully review all information provided. Rent collection – A property manager is responsible for rent collection and follow-ups. Even with convenient online payment portals, a property manager still needs to make sure these payments are being made on time. If not, a property manager must be able to take the next required steps. Tenant communication – A property manager takes care of any complaints or requests on behalf of the tenants. They will also handle any issues between tenants, or complaints from tenants regarding the property. Happy tenants are more likely to stay longer, which makes communication and patience key for a property manager. Vendor communication – A property manager also needs to be able to communicate effectively with different vendors when it comes to repairs, replacements, or new installations. The tasks assigned to a property manager extend from what is listed depending on the property’s unique needs. Knowing what is required and commonly expected of a property manager can help an individual better understand what it takes to become a property manager. Requirements to Become a Property Manager The requirements to become a property manager can vary depending on the state to which you are applying, as well as the hiring company. In the United States, six states have no licensing requirements. However, there is still a minimum standard and specific training that is necessary for those interested in meeting the requirements to become a property manager. Minimum Requirements to Become a Property Manager One of the most fundamental minimums required to become a property manager includes being at least 18-21, depending on the state in which you intend to work. It is also required to have a high school diploma or an equivalent GED, and to be a legal US citizen or permanent resident. Some basic requirements involve real estate license coursework and a passing score on a real estate licensing examination if required by state law. Knowing the basic requirements to become a property manager can help an individual discern if this career pathway may be right for them and understanding the state requirements to become a property manager based on the area in which you intend to seek employment is necessary. In addition to legal requirements to become a property manager, there are also skill sets to consider as unofficial requirements. Skills Requirements to Become a Property Manager Before committing to the coursework and time needed to become a property manager, it helps to consider if you have the skills required. These skills include: Communication – A property management position requires high-quality people skills. A property manager is always in contact with someone. This could be prospective tenants, current tenants, reference referrals, property owners, vendors, and more. The success of these interactions relies on both strong verbal and written communication. A property manager will often be calling, texting, emailing, providing written notices, and communicating directly daily. Patience – A large part of communication skills includes patience. A property manager’s job can be stressful. A property manager takes on a lot of responsibilities. Property managers need to handle potential disputes between tenants. This requires the ability to remain as neutral as possible. It also means staying calm, especially when a tenant misdirects their frustrations to you. This also includes staying patient when speaking with property owners, vendors, and other professionals. Knowing how to communicate and de-escalate certain situations is a vital requirement to become a property manager. Organization – A property manager needs to be organized. A property manager needs to take care of several different aspects of the business daily. This includes handling the leasing process, organizing turnover maintenance, managing time, balancing schedules, and keeping track of all vital information and dates. Attention to detail – an important requirement for property management is the ability to pay close attention to detail. A property manager handles a wide range of sensitive information and legal documents. They must understand what is necessary to remain compliant with all laws associated with the property and its operations. Basic Accounting – Even with accounting software readily available, a requirement to become a property manager includes the knowledge of basic accounting. A property manager should be able to keep track of payments, calculate and track late fees, understand and properly fill out expense reports, and provide detailed reports needed by the property owner. Education Requirement to Become a Property Manager The most basic educational requirement to become a property manager is to have a high-school diploma or a GED equivalent. However, many property investment and maintenance firms require some level of undergraduate studies as well. Common fields that are pursued by property managers include: Property management Finance Risk management Business administration Real estate The education requirements to become a property manager will vary. It helps to explore what some of the top firms in your area require of their property managers. This way, you know what to aim for to set you apart. Certification Requirements to Become a Property Manager There are different licensing and certification requirements to become a property manager. These requirements to become a property manager can vary depending on your state, and the company you work for. Licensing requirements to become a property manager are at a state level. Certification requirements to become a property manager relate to national real estate or property management accreditations. Common property manager certificates include: National Apartment Leasing Professional (NALP) – Getting this certificate is a great place to start. This helps an individual to apply with a real estate broker or property management company for an entry-level position, such as a leasing agent. This certificate will teach the basic skills needed to do the job effectively. Requirements typically include onside property management for a minimum of six months and completion of seven courses totaling 25 credit hours. Certified Apartment Manager (CAM) – This certificate is for onside managers who interact with tenants daily. This helps property managers develop the skills and knowledge to be the best representation of owners and investors. Requires 12 months of experience and 40 hours of course work. Certified Property Manager (CPM) – This is a highly regarded designation. It requires three years of consecutive employment in qualifying real estate management. Individuals will need to complete 19 of 36 requirement activities within 12 months. There are also specific requirements for a property manager’s portfolio of work involving residential, commercial, and industrial properties. These portfolio requirements to become a property manager highlight the property manager’s ability to handle a wide range of different properties. This includes the size of the property, as well as how many tenants per property. Master Property Manager (MPM) – This is the highest level of distinction. It requires a minimum of consecutive real estate management employment for at least 60 months. It also requires the same requirements as a CPM, plus a minimum of 500 residential units at one site, or 100 at five or more sites. Requirements to Become a Property Manager Understanding the requirements of a property manager is beneficial for both investors and those interested in getting into the property management field. It is important to meet the requirements of a property manager to achieve the best success possible. Home365 helps property investors find the perfect property management options for any size property. Get Free Quote --- > As a property investor, you want to look for key signs that indicate a great property management service. Check out our article! - Published: 2022-06-07 - Modified: 2023-01-19 - URL: https://www.home365.co/general-knowledge/property-management/signs-of-a-great-property-management-service/ - Categories: Property management How Much Work Is It Really to Use a Company or a Management Company Rentals Service? Getting into the world of investment properties can be a great asset to your portfolio and financial health. Owning real estate property allows you to collect a reliable income without having to necessarily invest a lot of time and commitment on your part. As a property investor, you’ll have two main options to consider when it comes to the operations of your property. You can choose to take care of the property yourself. This is ideal for investors who don’t plan on taking on too many properties. This also means that as an investor, you are responsible for the day-to-day operations of securing tenants, scheduling maintenance, handling marketing, and all the other aspects that go into operating a rental property. Your other option is to take advantage of a property management service. A property management service takes care of all the different aspects of operating and maintaining your property. A property management service handles several different responsibilities such as advertising and marketing, screening applicants, adhering to city and state laws and regulations, collecting rent, and working with vendors for maintenance, repair, and remodeling needs. To put it simply, hiring a property management service makes it easy to expand your portfolio by allowing you to focus on acquiring more real estate versus putting all your time and energy into just one. When it comes to hiring a property management service, there are a few different signs to look out for. What Does a Property Management Service Do? A property management service can do a wide variety of services depending on your needs as a real estate investor. What a property management service does largely depends on the role you want to take. A property management service is there to fill in gaps or provide complete operation services for your property. A property management service can focus on certain aspects of your property such as applicant screening, rent collecting, and unit cleanings and repairs. A property management service can also handle all aspects of operating the property. One option allows you to continue to play a more active role in the operations of your property and the other option allows you to relinquish control to a property management service that has the experience and expertise to meet the demands of your property. Operation Duties of a Property Management Service A property management service provides a range of operational duties. Using a property management service is ideal for those who own multiple properties or own a property of a larger size. It is much more involved to operate an apartment complex than a single-family home. When looking for signs of a great property management service, you’ll want to explore service providers who provide quality operational duties for a range of different property sizes. Operation duties include: Marketing – The success of your investment relies on the ability to keep tenants on the property. This is important for residential and commercial properties. A great property management service should be able to explain the different marketing techniques and tools they use to maintain high-quality tenants. A great property management service will be able to show you its ability to reach the right demographic and fill vacancies quickly. Tenants – You need a quality property management service that has a good track record with both investors and tenants. Happy tenants take more pride in their property, pay their rent on time, and tend to stay longer. You want to look for signs that a property management service can address the needs of tenants quickly and professionally. Rent collection – You want to work with a property management service that is going to protect your money. This involves both filling vacancies and making sure that tenants are paying their full rent amount when it is due. A property management service should have a clear outline of how rent is collected, how they deal with delinquent payments, and what steps they take when dealing with tenants who are habitually late or refuse to pay their rent. Vendors – Another sign to look for in a great property management service is their ability to work with a wide range of different vendors. You want your property to always be operating at its best. This includes important home services such as plumbing, heating, and air conditioning. A quality property management service knows the best providers in the area. You also want to work with a property management service that is going to take the time to research different rates in the area, ensuring that you aren’t spending more for repairs or maintenance than you should. Bookkeeping and record keeping – Another great sign to look for with a property management service is their ability to keep detailed, on-demand records concerning rent collections, late payments, vendor costs, and more. Owning an investment property is a great investment so long as all finances are handled with detailed care. Signs of Technology Use When Selecting a Property Management Service Investors and tenants alike prefer to work with companies who make it easy to communicate, find information, make payments, and schedule necessary repairs. A sign to look for is the willingness to adapt to new methods to improve the efficiency of operating an investment property. A great property management service should use: Online applicant forms – The majority of potential tenants are going to go online to seek available vacancies in their area. This means having a website that is clear and easy to navigate is key. Providing an online form makes it easy and convenient for new tenants to apply. This allows your property management service to get the information they need to ensure the selection of quality tenants. This includes basic information, employment information, credit check approval, and other necessary information. Having this form online also ensures that everything stays organized and nothing gets lost. Online payment options – Allowing tenants to pay online is a convenient way to keep a detailed record of payment amounts as well as when the payment was submitted. This makes it convenient for tenants to pay without having to worry about going to certain banks, mailing checks, or tracking down a property manager. This can also make adding a late fee easy and clear to the tenant. This can also help to make record-keeping and bookkeeping a breeze. When you need financial reports, your property management service will be able to provide them quickly. Many great property management service companies provide a specific investor portal that allows you to access the reports and information you need whenever you need them. Maintenance request submissions – Technology also makes it easier for tenants to request any necessary maintenance to their unit. Addressing maintenance concerns quickly is important for both you as the investor and the tenant. Any problem should be addressed as soon as possible to prevent any further damage. Waiting too long can cause more damage, which could end in a repair that is more costly and time-consuming. Having online tools for maintenance requests ensures that a service need will never be lost or delayed. This also helps the tenant to feel heard, knowing their request will be addressed quickly. Signs of Satisfaction When Working with a Property Management Service Another important sign to look for is the overall satisfaction of tenants, investors, and vendors that the property management service has. This involves taking the time to carefully research your different options before hiring a property management service. You want to see signs that the company is committed to the satisfaction of both the tenants and other investors who have worked with them. This could be exploring reviews left on their website, and reviews on Google, Yelp, and social media platforms. A quality property management service should have evidence that it can provide quality and professional services that meet the needs of both tenant and investor. Experience, Licensing, and Certification Level of experience, licensing, and certifications are signs of a great property management service. You want to make sure that your investment property is in qualified hands. It is beneficial to look for a property management service that is well-established and recognized. This shows that they have the experience necessary to handle different investment properties of various sizes. Many well-established property management service companies can handle all aspects of operating your property. This includes a marketing department, accounting, and property managers who have the required licensing and certifications to operate in your state. It is beneficial to have a clear understanding of their certification requirements. This shows their commitment to property management service. Choosing a Property Management Service As a property investor, you want to look for key signs that indicate a great property management service. You want to find a property management service that has the experience, licensing, and certifications that are required in your specific area. You also want to make sure there is clear evidence when it comes to satisfaction from previous or current investors or tenants. You also want to make sure that your property management service can handle all the operational duties to ensure your rental property operates at its best consistently. Home365 is committed to providing exceptional property management services for a wide variety of investment properties. Get Free Quote --- > Not sure how to start a rental property company? Home365 provides a guide on how to turn into a well-maintained rental property company. Read more here! - Published: 2022-05-16 - Modified: 2023-03-10 - URL: https://www.home365.co/general-knowledge/how-do-i-start-a-rental-property-company/ - Categories: General Knowledge How Much Work Is It Really to Use a Company or a Management Company Rentals Service? Investing in rental properties is a great way to build your business portfolio. For most investors, this endeavor rarely stops after securing one investment property. The more investment properties you have, the steadier the income you can rely on, turning what started as a few simple investments into a true rental property company that can provide financial stability for years to come. When building your business, you’ll need to start considering how to turn it into a well-maintained rental property company. Creating a rental property company can feel daunting, but with careful planning and execution, you can build a name for yourself. One of the most important decisions you’ll need to make when starting your own rental property company is whether you want to do everything yourself, or if you want to hire a professional property manager. Each option comes with its own set of advantages and disadvantages that need to be understood and carefully weighed. Managing a rental property can be financially rewarding, but it is also a major commitment of your time and efforts. Trusting a professional property manager can free you up from day-to-day responsibilities, but the additional services will come with a set cost. In the end, it truly depends on what your long-term goals are. If you are looking to build your own rental property company with numerous locations and building types, it will likely make sense to invest in a professional property manager or rental property manager company. What Is a Rental Property Manager Company? If you are just starting to build your investment portfolio, you may not know exactly what a rental property manager company does. A rental property manager company allows a qualified third party to take over the bulk of the responsibility for maintaining the property and the tenants within. The rental property manager company oversees the daily operations of your investment property and deals with questions or concerns from tenants. In a sense, they take care of every aspect of your property. This is ideal for investors that want to build their rental property company but don’t want to take on the direct role of landlord. A professional property manager or rental property manager company typically handles: Rent collection Market vacancies Miscellaneous issues Maintenance on small and large scales Detailed record keeping Reporting Vendor relationships Rent Collection This is one of the most important roles a professional property manager can fulfill for your rental property company. This may seem like a straightforward task, but it can often be more complicated than you would think. Even with the convenience of online portals, there is a likelihood that payment issues will need to be handled. This could be anything from a tenant needing a few extra days due to financial constraints, an issue with the payment portal, or a tenant with extenuating circumstances. While you still want to be human and understand that life can be unpredictable, you do still have a business to run. Having a third-party professional property manager representative removes the stress of having to handle these issues, especially if you plan on owning and operating multiple rental properties. Default Rent Payments Even with proper screening, background checks, and credit checks, serious issues can arise with tenants who may have looked good on paper but prove to be less than ideal tenants. A professional property manager will have detailed knowledge of landlord-tenant law. Having to deal with a tenant that is in serious breach of their lease can be stressful and frustrating. These breaches can be caused by significantly late payments, destructive behavior towards your property, numerous complaints from other tenants, or police involvement due to criminal activity. These issues can lead to the necessity of lawyer involvement as well as court appearances. Having a professional property manager or rental property manager firm on your side is ideal for these types of situations. They will have the knowledge and resources best suited to handle these issues. In many instances, these issues are often resolved faster because of the power a third-party company can represent versus a lone landlord. Unfortunately, some tenants will try to take advantage of a landlord, especially one who may just be starting out. However, when up against a company that completely understands legal rights and regulations, the likelihood of them succeeding in a court hearing quickly diminishes. The process of dealing with defaults and other breaches of contracts can be stressful and costly. Allowing your professional property manager or rental property manager firm handle these instances allows you to focus on other aspects of your rental property company. Finding Tenants Long-term vacancies can drastically slow down your capabilities in developing your rental property company. If you own multiple properties, you would need to dedicate a significant amount of your time to marketing and securing tenants for your various properties. This can be a full-time job if you choose not to invest in a professional property manager or rental property manager firm. Finding tenants involves the cost of developing a well-thought-out marketing strategy, as well as showing the units, screening prospective tenants, and ensuring the entire process follows strict federal, state, and local guidelines. Trusting in a third-party firm brings a whole new level of expertise into this process. Professional property managers understand the importance of securing quality tenants for your property. Failure to do so can ultimately mean more work for them, since they handle rent collection, lease agreements, and day-to-day operations. Rental property manager firms have a better understanding of the local demographic. A large factor in the success of your rental property company is knowing the demographic of the local area. Successful marketing starts by knowing to whom you want to market. Your rental property manager firm will understand who is likely to rent your units, whether it be college students, families, or those seeking a quiet place to retire. Once tenants are secured, your rental property manager firm will handle all necessary contracts to ensure everything is filed in accordance with the law. They are also there to ensure that your tenants remain happy while residing on your property. Complaints are bound to happen, especially if you invest in larger complexes with multiple different units. As a property investor trying to build a rental property company, you likely won’t have the time or energy to deal with complaints that may seem mundane. A professional property manager has the communication skills necessary to navigate personal complaints while remaining professional and focused on the overall good of the property as a whole. Maintenance A major aspect of building your rental property company is handling necessary maintenance for small-scale and large-scale needs. This can be a time-consuming process, and can quickly become stressful when dealing with tenant complaints. Maintenance can be inconvenient for landlords, especially when problems are urgent or happen after hours. If a tenant is complaining about a clogged drain in the middle of the night, it would be the landlord’s responsibility to deal with the issue quickly if they didn’t invest in a professional property manager or rental property manager company. Tenants expect all maintenance requests to be addressed quickly and handled as soon as possible. Customer service is a large aspect of operating a rental property company. This is often why many property investors choose to rely on third-party property management firms. This delegates the responsibility elsewhere and alleviates the stress that comes from unexpected maintenance requests. Most rental property manager companies will provide a professional property manager who has a basic understanding of most common maintenance needs. You’ll have the convenience of having someone available locally that can be there at a moment’s notice, as well as someone who can handle most requests themselves. In the event that certain maintenance needs to be outsourced, rental property manager companies will already have a list of reputable vendors in the area to contact as soon as possible. Most professional property manager agreements spell out a specific budget or dollar amount that can be used towards a maintenance issue without having to receive permission directly from the property investor. This helps to streamline the entire process to ensure that, whatever the issue, it doesn’t get worse. Typical maintenance responsibilities can include: Preventive maintenance Plumbing issues Appliance issues Drywall patching Pressure washing Lawn care Cleaning and painting units Changing locks If you plan on investing in multiple properties to build your rental property company, the maintenance alone could be too much for one person to handle. This requires the flexibility to be there when needed, as well as the customer service experience to handle tenants that could easily become disgruntled if repairs take too long or create too much of an inconvenience. A professional property manager will also ensure that any available units are clean and ready for showing. Having someone there locally is key when it comes to keeping multiple properties in your rental property company functioning effectively. This person will be able to show the units multiple times throughout the week, minimizing the length of time you experience vacancies. Book Keeping A major aspect of building a quality rental property company is accurate bookkeeping. When multiple properties are in play, you want to ensure that every dollar is accounted for. Technology has made this easier. Many professional management firms now rely on portals that can provide and track financial details, including rent collection, maintenance costs, utility costs, and more. Proper bookkeeping is also essential in making sure you get the most back from your property investment when it comes to tax time. Proper bookkeeping for your rental property company also ensures any outsourced vendors are paid on time. This is vital in building your reputation and long-lasting relationships. You may be able to receive better rates when using the same service companies for different properties throughout a specific area. Considering the Cost of a Property Management Firm When trying to build a rental property company, the cost will be a factor in any major decision. It is normal to want to weigh whether or not working with a rental property manager firmis the right decision for your needs. Fees will vary depending on your specific needs. Most property management firms offer different packages that provide different services. What you select largely depends on how much control and involvement you want to maintain for your different properties. If you are planning on taking a passive role, entrusting the bulk of operations to a rental property manager firm could make the most sense, largely depending on whether you can afford the cost and if you consider that cost to be worth it. Anywhere from 8-12% of collected rent is considered normal. This again depends on the types of services you are looking to acquire. For some investors, especially those starting out, this fee may not be worth it. However, if you own multiple properties, or are trying to build a legitimate rental property company, the costs could be well worth the convenience of being able to focus your time and energy on seeking other income-producing endeavors. Is It Worth It? Whether or not working with a rental property manager firm will be worth it depends on your long-term goals. You’ll want to consider whether or not you want to take on the role of a landlord or remain a silent investor, in a sense. If you only own a couple of properties, and you want to perform many of the tasks yourself, you may find it better to work on your own. However, if you are looking to create a rental property company that consists of several properties, trying to operate as a landlord could ultimately hold you back. When factoring in whether hiring a rental property manager firm is worth the extra cost, you’ll want to consider everything that they bring to the table that can make building your rental property company easier. An experienced company will have marketing techniques for the specific location and demographic. They also handle all the day-to-day operations, such as collecting rent, showing units, handling tenants and providing necessary maintenance. The knowledge and skill alone can be worth the extra financial investment over attempting to do it all yourself. Selecting the Best Rental Property Manager Outsourcing a professional property manager is the best option for investors looking to build a true business out of securing properties. When multiple properties are in play, there needs to be a reliable network to ensure nothing is forgotten, vacancies are filled, and tenants are happy. Selecting the right property management company can make a significant impact on the overall success of creating a rental property company. If you are ready to invest in a property management company, you must take the time to find the right one to fit your specific needs. An experienced professional company can make the entire process easier, while an underqualified company can slow down your upward progress. Ask Other Property Investors When exploring your options for a reliable company, turning to other property investors can be a great place to start. This allows you to get quality feedback from a professional like yourself. You’ll be able to ask specific questions and trust that the answers you are getting in return are 100% honest. This can help you decide what companies to explore further, and which companies won’t be worth your time. Search Online A simple Google search can lead you to several possible candidates. Through a company’s website, you should be able to get a general idea of who they are, and how long they have been in business. You should also be able to find a list of services they provide, as well as their different packages and fees. Most quality property maintenance companies will provide a convenient way to contact them, as well as testimonials provided by clients and tenants. All of this information will provide you with the information you need to determine the average rate of property management firms in the area, and what sets different companies apart from one another. Choose a Company That Embraces Technology When exploring different options, it is beneficial to explore what kind of technology they implement. The way property management is handled has changed drastically with the use of technology. While some companies may prefer traditional, low-tech practices, many are embracing the digital age unlike ever before. One great example is how Home365 streamlines the use of their online portal and mobile app. These options are ideal for tenants who prefer the security and convenience of paying for their rent online. These platforms are also ideal for maintenance requests. Certain maintenance issues, especially those dealing with plumbing, are best handled as quickly as possible. This helps to get the system operating efficiently again and saves on any further damage. With certain technology, like the technology used by Home365, maintenance issues can be detected before a tenant even has to report them. This ensures repairs of any level are taken care of before they can get worse. When... --- > Finding the right residential property management company is significant to the success of your investment. Here's our the top five companies in Las Vegas. - Published: 2022-05-16 - Modified: 2023-09-29 - URL: https://www.home365.co/general-knowledge/real-estate-investing/top-5-residential-property-management-companies-and-their-secrets/ - Categories: Real estate investing How Much Work Is It Really to Use a Company or a Management Company Rentals Service? Owning resident property in Las Vegas is a great way to quickly build your investment portfolio. Las Vegas caters to all different demographics, from young families to retiring seniors. Property is vast and can lead to a great return on investment. To ensure the quality of your tenant’s stay, as well as ensure your property is well cared for, you need to invest in residential property management companies. Finding the right company can make a significant impact on the overall success of your investments. When it comes to selecting a company in Las Vegas, you’ll have several to choose from. The process of selecting the right residential property management companies for your investment properties can feel overwhelming and time-consuming. You typically would need to set aside time to search online for reputable companies in the Las Vegas area. From there, you would need to explore different company websites to learn about who they are, what services they provide, what packages they offer, and what different clients and tenants have had to say about their work. To help the selection process move forward, the following list provides the top five residential property management companies in Las Vegas. These residential property management companies all come with different advantages as well as disadvantages. You’ll be able to take the information provided to narrow down your search, allowing you to jump right into the interview process. What Are Residential Property Management Companies? Residential property management companies are third-party companies that are dedicated to operating your investment properties throughout Las Vegas. They provide a wide range of services to fit your unique needs. These residential property management companies often employ highly-qualified professional property managers who oversee day-to-day operations. They allow investors to take a step back from their role as landlords and focus on other profit-gaining projects. Their services often include: Tenant acquisition Rent collection Maintenance Legal compliance Finance reports Residential property management companies essentially represent the investor and protect and improve that investment. These companies often come well equipped with professional property managers, vendors, and other service agencies. They often also have their own marketing departments and financial offices. They are a one-stop company that can meet all your demands your investment property will require. Tenant Acquisition Successful marketing is key in ensuring you won’t have to deal with excessive vacancies that can cost you money in the long run. Reputable residential property management companies in Las Vegas will understand the demographic of the area your investment property is located. They will have the resources and availability to advertise vacancies, as well as provide walk-throughs for interested candidates. They also take care of the process of screening tenants. This often involves a detailed questionnaire, proof of income, background check, credit check, and references. Finding a quality tenant can save a lot of unwanted hassle and stress in the future. Residential property management companies will also know all the legal requirements at the federal, state, and local levels. This protects you from any potential legal issues that could arise from unfair housing procedures or missed contract signings. Rent Collecting Steady cash flow is vital in building your investment portfolio and rental property company. You need to work with residential property management companies that have a long history of securing on-time payments, as well as the experience and knowledge to handle situations where late or missed payments become an issue. It is beneficial to work with residential property management companies that provide an online portal or convenient mobile app for payments. This provides a secure, easy to use, and easy to track option for rent collection. You will want to work with residential property management companies that will stay on top of tenant payments and take the necessary steps if there is a breach in the lease and eviction becomes necessary. Maintenance As an investor, you likely don’t have the time to worry about day-to-day maintenance or have the resources to provide necessary maintenance at a moment’s notice. This is where having reliable residential property management companies is key. Tenants expect any of their concerns to be handled quickly and effectively. Most professional property managers can provide basic maintenance needs, or have the resources to outsource the work to reputable vendors in the area. A quality company can provide basic repairs, lawn care, dry-wall patches, paintwork, and lock replacement. A property that is clean and well-maintained will be more appealing to potential tenants. Regular maintenance represents that commitment you have to ensure your property will stay in good shape and last for years to come. Bookkeeping You want to see a good return on investment when purchasing rental properties in Las Vegas. Accurate and detailed bookkeeping has an important role to play in this aspect. You want to receive all tax deductions possible, and avoid paying more for taxes than you should. Residential property management companies have the resources and technology to provide accurate reports and information to ensure you have a clear picture of the money you have coming in and the money that is going out. This allows you to track the success of your rental property company, and clearly see areas where improvements may need to be made. Top Five Residential Property Management Companies in Las Vegas What a professional property manager or management company does will vary on what you are looking for and what services that the company is equipped to handle. No two companies are the same. It is important to explore the different options available in Las Vegas to find what will work best for your needs. Some residential property management companies require consistent involvement from the investor, while others can operate without any direct influence. You’ll also notice differences in the types of properties they can properly maintain, as well as the technology used to streamline both day-to-day and long-term operations. You’ll also want to take the time to explore different testimonies provided on company websites, social media, and review platforms, such as Yelp. These platforms can give you accurate feedback concerning the experience of clients and tenants. When it comes to residential property management companies in Las Vegas, these are the top five options for investors in 2022. #1: Home365 If you are looking for rental property management companies that utilize the best technology has to offer, you don’t have to look any further than Home365. This company is on a mission to revolutionize the way the professional property manager industry operates. They offer all-inclusive professional property manager services that allow the investor to focus their attention elsewhere. Unlike other rental property management companies that only claim investors won’t need to be involved, Home365 truly stands by this guarantee. Their rental property manager services are tailored to provide a guaranteed return on investment, reduced stress, and provide a hassle-free way to ensure your investment property is well maintained and always has full occupancy. Home365 differs from many local rental property management companies competitors due to its use of artificial intelligence. They use state-of-the-art analysis collection to simultaneously explore over 40 different data points to achieve a complete understanding of your property. This includes the age of the property, its size, location, and value. In addition to analyzing the property itself, artificial intelligence will also analyze the demographics of the area, local labor costs, median rental costs, and more. This helps to create a unique, cost-effective plan that will be most valuable for your unique rental property company needs. Home365 strives to provide the best in tenant management. They perform detailed full-credit checks, background checks, credit history, and rental history checks. This detailed process ensures that only the most qualified tenants make their way onto your property. Once tenants are placed on your property, they will have access to Home365’s convenient portal and mobile app. These rental property manager tools are used for rent payments and maintenance requests to ensure nothing is missed, and tenants will have peace of mind knowing they will receive the professional property manager’s full attention as soon as possible. Home365 is one of the few rental property management companies that offer a preventive sensory system throughout your investment property. This system operates by detecting maintenance issues before they can turn into major, costly repairs. This system is so accurate it often detects issues before a tenant does. This leads to rapid response time and increased satisfaction for the tenant who didn’t have to experience any inconveniences waiting on a maintenance request to be resolved by the rental property company. Home365 also provides a convenient dashboard that is accessible by the property investor at any time. As an investor, you’ll have access to cash flow, work history, current projects, and other necessary information. This provides peace of mind to an investor that would prefer a passive role in the operations of the property. Having full transparency ensures you’ll always be satisfied with the work Home365 is doing to promote and maintain your rental property company. Another great perk that sets Home365 apart from the rest of the rental property management companies is its rent guarantee. Home365 is so dedicated to providing quality tenant marketing that they are willing to absorb costs associated with a unit remaining vacant. They guarantee 12 months of full rent, every year, regardless of the circumstances. This is a valuable perk for an rental property company, providing a guarantee that their cash flow won’t be affected by a vacancy. This also ensures that Home365 will do all it can to ensure any vacancies are filled with highly-qualified tenants as quickly as possible. #2: Ameriwest Realty Of the rental property management companies that provide services to all different types of businesses in the Las Vegas area, Ameriwest Realty tends to focus on single-family homes, condos, and townhomes. Every professional property manager that works for this company maintains their real-estate license as required by the state. This company has over a decade of experience in marketing, tenant selection, maintenance, and other services necessary for quality rental property management companies. This rental property manager company has experience in handling tenant complaints, filling vacancies, and managing HOA requirements. This company is a popular option for owners and tenants because they offer an online portal that is mobile-friendly. This allows tenants to conveniently make payments and submit maintenance requests. Their professional property manager maintenance team is available 24/7 to provide emergency services for rental properties. Their online portal also allows easy access for the rental property company to contribute funds for emergencies, renovations, or to have money in reserve. This portal also provides access to necessary property insights, such as access to financial statements, monthly summaries, tax statements, and other important documentation. Their online portal provides a much-appreciated level of convenience for both owners and tenants. They utilize their collective knowledge to provide the best options for successful marketing, tenant selection, and day-to-day operations. #3: Triumph Property Management Triumph Property Management is one of the rental property management companies based in Nevada and is proud to boast that it is established as one of the leading professional property manager businesses in the area. This company is dedicated to ensuring the satisfaction of both clients and tenants. They strive to provide efficient communication routes to address any concerns that could arise while they are managing specific properties. Triumph Property Management is a full-service professional property manager company. They handle all important aspects of maintaining and operating your investment property. They utilize different departments for leasing, maintenance, accounting, and management that all work together to provide the most efficient day-to-day operations for clients and tenants. They handle important aspects of your business, such as: Marketing Tenant Screening Maintenance Bookkeeping They are one of the rental property management companies that manage single-family homes, condos, multi-unit apartment complexes, townhouses, office buildings, and commercial strip centers throughout Las Vegas. Triumph Property Management offers an 8% management fee for first-time clients who have less than three properties. They offer a 7% fee for first-time clients who have more than three properties. They also promise zero hidden fees and zero setup fees. Like many other rental property management companies in the area, Triumph Property Management utilizes a convenient online portal known as Appfolio. This platform streamlines important information for both the property owner and the tenants of the property. Tenants can use this portal to make payments, check their payment history, and submit maintenance requests. The rental property company can use the portal to send necessary funds and track important financial information. #4: Golden West Management Inc Golden West Management Inc is one of the rental property management companies that serve multiple areas, including San Diego and Las Vegas. Their core values include effective communication for both tenants and clients, providing a top-of-the-line professional property manager using technology to simplify interactions with clients and tenants, and striving for continuous improvement for the best success possible. The professionals at Golden West Management Inc have the experience and capabilities to successfully operate every type of investment property, including single-family homes, condos, and apartment complexes of all sizes. They are among the full-service rental property management companies that handle maintenance repairs, inspections, rent collection, advertising, and more. When it comes to marketing your property, the professionals at Golden West Management Inc go above and beyond to make sure your property looks its best to stand out from the rest. They utilize a professional photographer to take crystal clear images of your property that are then used to create a virtual tour. Having this capability allows prospective renters to explore the property, whether they are located in Las Vegas or are looking to move there soon. Your property will be listed on over 40 different sites, targeting a wide and diverse audience. Using comparative market analysis, rental property management companies explore competitive prices in the area to ensure your property is the most appealing to qualified tenants. All tenants are carefully screened by checking their background, credit history, rental history, and employment verification. Their services also include a 24/7 maintenance emergency department that can be there when your tenants need them most. This company partners with top vendors to ensure your property is well-maintained. Golden West Management Inc provides a convenient online portal for both tenants and owners. Tenants can easily apply for an apartment, sign their lease, make payments, and request maintenance services. Your rental property company can use the online portal to access full financial reports, check payments, requests, and more. #5: Choice Real Estate and Rentals Inc Choice Real Estate and Rentals Inc is among the rental property management companies that have been providing property management services in Las Vegas, since 1979. They specialize in marketing, maintaining, and operating single-family residential homes throughout the area. This company holds memberships in different organizations, which helps them stay on top of providing quality care and services for investment properties. They are one of the member rental property management companies of the Greater Las Vegas Association of Realtors, the National Association of Realtors, and the National... --- > How to Choose the Best Rental Property Manager for Your Needs? Here are The 10 Top Things You Need to Know! - Published: 2022-05-10 - Modified: 2023-03-14 - URL: https://www.home365.co/general-knowledge/property-management/top-10-things-to-look-for-when-selecting-a-rental-property-manager/ - Categories: Property management Choosing the Best Rental Property Manager for Your Needs Owning rental properties is a great investment that can quickly build your portfolio and increase your financial security. To protect your investment, the properties you own must be properly maintained. This is where a professional property manager comes in. A rental property manager operates and protects your property as if it were their own. You want to find a rental property manager who is licensed, experienced, responsive, and transparent. An experienced rental property manager can ensure your tenants stay happy, which often results in longer rental terms. They will also make sure that all cash flow is accounted for, and collected on time. They will also ensure that your property remains in great condition and adheres to all federal, state, and local laws, regulations, and codes. Conversely, however, a bad rental property manager can cost you both time and money. If tenants are unhappy, whether because they feel mistreated or necessary repairs aren’t being completed, they will likely choose to move somewhere else once their lease is up. If your rental property manager isn’t actively seeking new tenants, that can lead to long vacancy times that cost you money. A bad rental property manager could essentially ruin your business. This could be through mishandling your money, mishandling required inspections or causing unnecessary issues with tenants. When considering all these different factors, selecting the right professional property manager can feel overwhelming, especially if you are a first-time landlord or someone who has experienced issues in the past. However, finding the right rental property manager for you doesn’t have to feel impossible. You can turn to reputable management company rentals that take the guesswork out of selecting the right rental property manager for you. You’ll still want to make sure you are working with the right company. Once you do, that company will take charge from that point forward. Reputable companies such as Home365 take care of the vetting and certifying process. They also take over the bulk of the responsibility for ensuring your rental property manager performs their assigned tasks to their best capabilities. Conduct your own research to find the best fit for you. You can also take the time to explore options for yourself. When selecting a rental property manager, you’ll want to take the time to conduct necessary research to ensure you are finding the best fit in the area. It is vital to know what questions to ask to ensure you are selecting a property manager that can be trusted to protect your rental investment as if it were their own. What Is a Rental Property Manager? If you are a first-time rental property investor, you may be unsure of what responsibilities your rental property manager handles. This can largely depend on your own desired level of involvement. If you are in the area, and you plan on conducting the bulk of tasks and responsibilities, your rental property manager may not have the same responsibilities as an investor who does not reside in the area or has multiple properties to care for. In general, a rental property manager handles: Applicant screening Rent collection Basic accounting and reporting Maintenance coordination Targeted marketing Property inspection Communication with tenants Legal documentation Fair housing and legal compliance Your rental property manager can take care of the bulk of responsibilities concerning your investment property. They essentially represent you, functioning as your voice and presence to ensure everything is operating as effectively as possible. Do Your Research The best way to start your selection process is to conduct your research. Technology has made this easier than ever, allowing you to explore different company websites, social media accounts, and review pages. A simple Google search is an excellent place to start. Digital marketing plays an important role for companies that offer services to investors and consumers. This places pressure on making sure a company’s website adapts to algorithm changes that are designed to provide the best results the moment a person hits enter. When you search for rental property managers in your property’s local area, you’re likely to get pages of results. It is beneficial to take the time to explore at least 5-8 different company websites. These websites should provide necessary information such as: How long they have been in business The types of properties they service The services they provide A breakdown of fees Client testimonies Contact information Conducting this basic research can help you narrow your results. This helps you to develop a list of companies that you would like to explore further. If you choose to pursue seeking your rental property manager, there are ten things you should look for before making your final decision. Look for Specialized Experience Rental property management can be a complex industry. It is highly competitive, and to qualify for this position can vary in training and experience depending on the area. You want to find someone who fully understands and follows all federal, state, and local laws. Any corner cutting can have serious repercussions on your investment as well as your reputation. Your rental property manager is an extension of you, so you want to ensure they will operate transparently. You want to make sure you are finding a rental property manager that is familiar with your particular type of investment property. A rental property could be a single-family home, a duplex, or an entire complex. Each type of property comes with its own set of challenges and requirements. It is suggested that you avoid real-estate agents who may offer property management on the side. They may not have the time or experience to properly take care of your property, and they tend to have less knowledge of the laws and codes that need to be followed. Choose a Rental Property Manager With Localized Experience Effective rental property management relies on a distinct understanding of the local market. No two places are the same. Your rental property manager should understand the advantages and challenges of the area. This includes laws and licensing requirements of that specific area. Laws concerning rental properties can vary from state to state as well as city to city. You want a rental property manager who understands the specific licensing, certifications, and inspections necessary to operate within legal limits and avoid any risks of fines. A localized rental property manager can better understand the demographics of the area. Effectively filling vacancies is key to maintaining a steady income from your investment property. Your investment rental property could be located in a college town, where you may experience a higher application of young students who may only reside at the property from one to four years. You may be in a family-centered location where there is a higher demand for multiple bedrooms and pet-friendly spaces. Lastly, your largest demographic could be an older population looking for somewhere low-maintenance and quiet. Knowing the local demographics is key in properly marketing the property to keep applications flowing. A localized rental property manager has a greater ability to develop long-lasting professional relationships with different vendors. It is unavoidable that your rental property will need maintenance, repairs, and replacements of certain systems over time. A qualified rental property manager will take the time to explore local options to ensure you are receiving quality work at a competitive price. In addition to online research, you can also explore local advertisements for rental property managers in the area. You want to work with an individual or company that is actively involved in marketing. The more a name is known to the public, the better social standing it develops. Local ads can provide a better look into who the business is and what they stand for. It also allows you to directly see how successful their marketing techniques are. If you wouldn't necessarily follow up with them, this is a good indication that their marketing techniques may not fit your needs. Verify Professional Licensing and Certifications It is beneficial to understand the rules and requirements that the area of your investment property requires when considering who can qualify as a rental property manager. Depending on the area, a company or individual may only need to possess a real-estate license or may not be required to possess a license at all. Whether or not it's required by the specific area, you’ll want to consider how important it is to you. Licensing and certification provide clear evidence that a rental property manager has taken the time to ensure they have received the training necessary to ensure a complete understanding of what their role entails. Property managers and management companies should be able to back up their expertise with licensing and certification. The more certifications a rental property manager has, the greater peace of mind you’ll experience when it comes to relying on them to care for your property. Check Reviews and References While conducting your basic research, you’ll want to look for reviews and references outside of the company’s direct website before you take the time to meet your candidate. You can take the time to explore reviews on Yelp, Google, and social media platforms. You’ll want to look at a wide variety of reviews to get a proper assessment of the rental property manager. Odds are likely you’ll find some negative reviews. This could be based on an ex-tenant who has no real evidence or grounds to leave a negative review but is focused solely on the emotional aspect of their experience. However, if you notice consistent, repetitive negative reviews, this could be a sign that certain rental property managers are not ideal for you. You can also use traditional review routes, such as the Better Business Bureau or the Chamber of Commerce. The more references you can explore, the better you will be able to assess whether or not you’d have a positive relationship with that rental property manager. In some instances, you may have to directly request references from current clients and tenants. This is another great way to narrow down your list of potential rental property managers. Getting references from both clients and tenants provides a clearer picture of how your potential manager operates as a whole. Clients can provide their experience in trusting the rental property manager to properly market, maintain, and improve their rental investment. Client reviews can give you an idea of how well a specific rental property manager communicated, as well as performed, under pressure. Tenant reviews are just as important as client reviews. Your rental property manager shouldn’t focus solely on pleasing you. They should also be aware and care for the tenant experience. This includes making sure any necessary repairs are done within an appropriate time frame and making sure any parking areas are clear, especially in areas that experience heavy snowfall, for example. Rental property managers also need to be able to effectively handle any complaints or conflicts that could arise between tenants, or with the rental property manager. Getting a clear picture of all sides can help provide the best image of how the property manager will work for you. Get Referrals From Other Rental Property Investors When possible, getting referrals from other rental property owners can help you make an informed selection when it comes to the final selection. You can often find the best rental property managers by asking colleagues and friends who work in real estate management. Word of mouth is valuable in that you can ask specific questions and hear someone’s first-hand experience. First-hand experiences provide open and honest reviews that you can feel comfortable trusting. If personal referrals aren’t an option, relying on your research is the best place to start. Once you’ve sought out the experiences of others and have conducted your own research, you’ll likely have a list of top candidates. The next step in selecting the best rental property manager is to interview potential candidates. Interview Potential Candidates Finding the best rental property manager involves gathering as much information as possible. Your online research helps you to narrow down your options from a long list to one that is more manageable. You should consider contacting at least 3-5 different companies to ask further questions that may have not been answered through your additional online research. This also provides the opportunity to get a feel for the person’s level of professionalism as well as for how easy it feels to communicate with one another. Some questions to consider asking include: - How long have you been in business? - What areas do you service? - Can I review your property management agreement? - How many employees does your company have - How many properties do you currently manage - What is included in your monthly management fees - What are your standard application requirements and screening process? - How often, and what methods do you use to perform property inspections? - Do you provide an online portal for tenants and owners? - Will I receive monthly or yearly financial statements Asking these questions can provide a general idea of what rental property managers best align with what you are ultimately looking for. You’ll also want to pay attention to how responsive they are when answering your questions. If they seem reluctant, or give you the feeling that they would rather be doing something else, this is a good indication that they won’t be the best fit for you. Taking the time to ask these questions can help you narrow down your list even further. Once you have your top candidates, you’ll want to follow up with more specific questions. Get Specific Questions Answered In your first round of interview questions, you are mostly exploring general questions that provide a basic foundation of who your top candidates may be. Once you’ve taken the time to get your initial questions answered, you’ll likely be ready to narrow your choices down even further. These specific questions can help you better assess their skills when it comes to their flexibility. Your specific questions can include: - How many properties and tenants have you managed at one time? - What marketing strategies do you implement to fill vacancies? - How do you deal with sudden property damage or loss? - How do you handle evictions? - How do you handle late payments? - What is your process for after-hours emergencies? Asking specific questions can help you determine the best rental property manager for you. Following your specific interview questions, you’ll likely have your top candidates in mind and be close to ready to make your final decision. Before you do, there are a few more things to consider, such as your overall personal impression, and their property management agreement. Trust Your Personal Impression While it is vital to have all the facts and information possible, you’ll also want to start trusting your gut. Communication is vital when it comes to developing a strong professional relationship between you as an investor and them as your rental property manager. If you are not located locally, this adds pressure... --- > Find the Management Company Rentals Best for You! Management company rentals can take care of all the responsibilities of your property. - Published: 2022-05-10 - Modified: 2023-03-14 - URL: https://www.home365.co/general-knowledge/how-much-work-is-it-really-to-have-a-company-or-a-management-company-rentals-service/ - Categories: General Knowledge How Much Work Is It Really to Use a Company or a Management Company Rentals Service? Owning a rental property can be both exciting and stressful. Whether it is your first rental property, or you’ve been growing your real estate presence for some time, investment properties are a lucrative way to collect income without having to invest a lot of effort on your part. As a landlord, you have the option to decide if you want to take care of all operations yourself or trust a professional rental property company. Trusting a management company rentals service can provide you peace of mind that your property is functioning effectively, even when you can’t be physically involved. A property management company can handle a wide variety of responsibilities such as advertising vacant units, screening tenants, creating leases, collecting rent, enforcing policies, and maintaining property grounds. Hiring a management company rentals service can make operating your investment property easier. What is most important is understanding exactly what kind of services you can expect from management company rentals. No two companies are the same. Depending on with whom you decide to work, you may still find yourself heavily involved in not only major decisions, but day-to-day operations. While you want to maintain open communication with your management company rentals, you also want to be able to trust they can get the job done without your constant involvement. The purpose of working for these companies is to take a step back while still expecting your reputation to be protected and your investment property thriving. How much work you’ll have to put in largely depends on what management company rentals you decided to hire. Professional Property Manager vs. Management Company Rentals When considering your options for property management, it is important to know the difference between a professional property manager and a management company rental. A professional property manager is a person that handles day-to-day operations for one or more properties for a landlord. A professional property manager typically deals directly with the landlord. They are responsible for a variety of duties depending on the needs of the property owner. These responsibilities can include: Marketing the property to attract potential tenantsScreening tenants to find the best possible candidatesDrafting lease agreements and securing on-time rental paymentsHandling regular maintenance as well as emergency repairsHandling evictionsProviding financial statements for the landlordPrepping apartments Professional property managers complete tasks and responsibilities that have been outlined in a property management agreement. The responsibilities of a professional property manager can vary depending on the needs of the landlord. You may have investment properties that you utilize as summer rentals or as short-term vacation rentals. The responsibilities and tasks for these types of properties can significantly differ from properties that require year-round care. A management company rental provides many of the same operational duties. One of the major differences is that a rental property company is better equipped to handle properties that consist of multiple units. A larger rental complex has different needs and demands than single-family units or duplex properties. A management company rental is also ideal for landlords that own multiple properties. A rental property manager is often just one person who is controlling not only the day-to-day operations but also overall operations that directly impact the success of the property. Multiple properties could be overwhelming for one person to handle, which could lead to dissatisfaction with tenants and vendors. A management company rentals service is also ideal for investors that own a variety of different properties. Larger management companies have the resources and expertise to provide quality services for residential and commercial properties of all sizes. Selecting a Management Company Rentals Service A management company rentals services are a third-party company that is hired by a landlord and is responsible for maintaining the property. These companies provide a professional property manager that has been carefully screened and vetted. Finding your property manager can be a complex process of conducting research and interviewing multiple candidates to find the best fit. When it comes to communication and transparency with the landlord, secure the right property manager who will communicate effectively with both tenants and the vendors who are providing various services. When working with a management company rental, they already have a list of reliable, screened, licensed, and certified professionals who have the experience and knowledge to provide the expert services you need. A property management company will also be able to provide a network of vendors, employees, and resources. A rental property company is ideal for investors that own more than one property or plan on building their investment portfolio shortly. More properties mean more potential stress and responsibilities that need to be accurately divided to ensure nothing is missed and satisfaction is maintained. Choosing management company rentals is ideal for:Business growthMultiple rentalsProperties outside of your living areaProperties that are part of the affordable housing program Responsibilities of Management Company Rentals Services Property management companies take on the majority of responsibilities that would otherwise need to be handled by the property owner themselves. Most investors prefer to allocate the majority of responsibilities to these companies to focus on other aspects of their profession, such as securing additional properties. The responsibilities of these companies can vary depending on your specific needs. That is why it is so important to select a company that you can trust will handle all the different aspects of your properties without needing your direct influence. Filling vacant units is one of the most important responsibilities of a management company rentals service. This involves understanding the unique demographic of the specific area. An experienced company will know the best marketing techniques for attracting the right kind of tenants. The longer any units go vacant, the less money you can expect while still having to provide the cost of maintaining that unit. Your property management company carefully screens tenants to ensure your property is getting high-quality tenants. Established management company rentals often follow a specific template that ensures compliance with fair housing laws, as well as ensures that a renter’s credit and background check ensure they can pay their rent on time, create minimal damage to the property, and will communicate with the property manager when concerns arise. Most property management companies have specific leasing and marketing departments that know how to successfully advertise and draft an airtight lease. Maintenance requests are also handled by management company rentals. These companies often have the technology to provide tenant portals where maintenance requests can be submitted at any time, which ensures they will be addressed appropriately. Since management company rentals tend to already have a network of vendors, repairs can often be completed quickly. Management company rentals can take care of every aspect of operating your investment property. As a landlord, you’ll have peace of mind knowing that your property is well-maintained and that your tenants are happy. These companies are designed to take the stress off of the landlord. In a way, working with these companies is like having an insurance policy. They become responsible for all aspects of your property, ensuring that all federal, state and local laws and requirements are met. Not All Management Company Rentals Are the Same While most property management companies offer the same types of services, this isn’t always the case. You want to find a company that has the capabilities to fully take care of necessary operations. This means that not only are they equipped to handle the tasks for which they are responsible, but they can also carry about these tasks without your direct involvement. Many typical management company rentals will still require a landlord’s direct involvement when it comes to maintenance, decision making, and financial decisions. While a landlord should be involved, most property management agreements establish guidelines for major decisions. This often includes budgets for marketing, maintenance, repairs, and replacements. For investors with multiple properties, it can quickly become frustrating to work with a property management company that is unable to provide services without your direct input. If you are looking for a property management company that allows you to be more hands-off, and focus on other elements of your business growth, you’ll want to take the time to secure a company that will truly take care of everything for you. The Home365 Difference Home365 is a rental property company dedicated to revolutionizing the way management company rentals operate for both investors and tenants. Traditional property management techniques often involve the necessity of keeping the property owner involved on a near daily basis. This can leave an investor feeling as though they were better off being their own rental property manager. Home365 strives to change this interaction by making the interaction unnecessary. Home365 offers all-inclusive property management services that are heavily digitized. Embracing technology is key. Technology has completely revolutionized the way that tenants, property management companies, and landlords communicate and operate. Home365 provides a better return on investment by ensuring fast effective responses when it comes to tenant marketing, property maintenance, and other necessary day-to-day operations. Trusting in Home365 has helped investors with multiple properties see better success financial from their properties, minimize their stress of unnecessary involvement, and all them to focus on other aspects of their business. Using artificial intelligence allows Home365 to stand apart from professional property manager competitors who may be utilizing technology but aren’t using it to their full potential. Home365 can analyze over 40 different data points to get a full image of your property’s full capabilities. This can include the property size, its age, and its location. These data points analyze target demographics in the area, providing comparisons for similar properties in the area. These data points can also provide local labor costs which build a detailed understanding of what to expect when it comes to maintenance and repairs that are a necessary aspect of property management. All the information collected helps to determine the best plan to meet the specific needs of your property. Managing Tenants The way Home365 manages tenants differs from any other management company rentals services. We use our technology to secure the most qualified tenants by checking full credit history, performing background checks, and exploring previous rental history. Not only does Home365 provide state-of-the-art methods for finding quality tenants, but once tenants are secured, they can use our convenient app or portal to make rental payments and report any issues they are experiencing. This ensures that we will provide our full attention to their needs, and nothing will ever get lost or overlooked. Managing the Property Keeping your property in shape is necessary for long-term success. Tenants are more likely to show interest in properties that provide curb appeal and look taken care of. As a rental property company, we provide full insurance protection and coverage for operating expenses, routine repairs, maintenance, and necessary turnover repairs. Our management company rentals services stand out from the rest with our preventive sensory system that is installed throughout the entire property. Traditional management company rentals largely rely on tenants to report any issues they are experiencing. However, system issues, such as plumbing issues, can take some time to be noticed. Even when noticed, there is no guarantee your tenant will take the issue seriously enough to report it. With our preemptive sensory system, we will be able to detect maintenance issues early, saving time and money. Once we receive an alert, we act fast to evaluate the issue and get it repaired as quickly as possible. Live DashboardWith our technology, landlords will always have peace of mind that they can check in on their property at any time. This provides complete transparency, which is key in building a long-term relationship. All work is recorded, available, and provides detailed information. This can be accessed through our online portal or app. Find the Management Company Rentals Best for You Management company rentals can take care of all the responsibilities of your property. This provides peace of mind that your property is staying up-to-date, that you aren’t experiencing vacancies, and that your tenants are happy. However, you want to take the time to find the right company for you. Some may claim that you won’t need to be involved, but then you soon find yourself having to be involved consistently. With Home365, you truly get an experience where your direct involvement isn’t necessary. With our experience and technology, we are revolutionizing the way property management works. With us, you won’t need to put in any extra work to ensure the success of your investment property. Get Free Quote --- > Home365 announced a Series B venture funding round to accelerate its innovative approach to helping investors grow real estate portfolios. Learn More! - Published: 2022-03-29 - Modified: 2023-04-25 - URL: https://www.home365.co/general-knowledge/home365-is-publicly-announcing-a-series-b-venture-funding-round-of-26m/ - Categories: General Knowledge Home365 is publicly announcing a Series B venture funding round of $26M to accelerate its innovative approach to helping investors grow real estate portfolios across the country in a predictable fashion. This is an exciting day for our team, vendors, clients, tenants, and for everyone who believed along the way that there was a better way to manage real estate. OneRate continues to get amazing feedback as the only product in the world that is 100% passive to own real estate with predictable results. The owner, vendor, and tenant portals and apps all continue to get better feedback. We have added a bunch of realtors that are helping buyers find cash flowing properties in this crazy market. And each week we see our ratings improving from owners and tenants... so it was time to accelerate the mission! To be as transparent as possible, we wanted to detail out for you our strategic plans for the financing over the coming months and years as we continue to evolve... . Hiring the best talent on the planet --- We fundamentally believe that we need to continue to bring amazing people into the company to expand on our mission. Those people will be a combo of centrally located in one of our headquarters, and boots on the ground in each market that we are in. Build out the best technology in the world to deliver predictable results to our clients. Real estate is still too manual and complicated. We want to make it easier to buy properties in various markets, easier to communicate with our team, easier to gather insights on your growing portfolio, easier for vendors to resolve maintenance, and ultimately easier for you to build wealth through real estate. Expand to new markets -- Building a diverse portfolio is always preferred over investing in one city. We want to make it simple for investors to purchase properties in many different amazing cities across the country. In the first half of 2022, we will be expanding to Detroit, Chicago, Minneapolis, Seattle, Phoenix, and have plans to add another 10 markets later in the year. Innovation -- We have some incredible plans around innovation that we will detail out in future notes. To get your wheels turning... Wouldn't it be amazing if every home had a digital lock and we never needed dumb keys again? If when a tenant moved into a new home, they had an amazing moving experience that blended technology and human concierge to make moving a piece of cake? If you could get access to more properties online across more markets to buy with a fully baked out OneRate proforma to get under contract in minutes? More parts of the rental unit were tracked by digital data such as water usage or temperatures? If work orders got assigned and completed even faster to speed up the time tenants have to wait for issues, making it a benefit to live in a Home365 managed unit? We have a lot of work to do --- and are more energized than ever to bring the various concepts to reality in 2022. Thanks for believing in us and trusting us with your valuable assets. Let's go! --- > How Much Are Property Management Fees? Where Do My Property Management Fees Go? All The Answers are in The Article - Published: 2021-09-14 - Modified: 2023-04-25 - URL: https://www.home365.co/general-knowledge/property-management/understanding-property-management-fees/ - Categories: Property management As a real estate investor, you understand the concept of return on investment. That’s why you’re making smart moves, acquiring the properties that fit your vision, and putting money into repairs and upgrades. But if you’re serious about maximizing the value of your investment properties, you need to keep room in your project’s budget for property management fees. Let’s take a look at how much quality property management costs, and what sort of value you should be getting out of this crucial business relationship. How Much Are Property Management Fees? The amount you can expect to pay for property management services will vary greatly. Important factors include where you’re buying property, the size and type of the property, what sort of services you need, and the quality of the services. Some property managers may offer a flat rate per unit, or per project, but others will calculate your property management fees as a percentage of your rental income. Home365 is a property management leader with offices in Las Vegas and operations throughout the United States. They offer full-service property management plans for as little as 6% to 9% of a managed unit’s rent. More comprehensive packages can be tailored for investors who demand maximum automation and risk mitigation. Calculating Property Management Fees Let’s say you’re a new investor and you just purchased a small row of townhomes with 8 rental units in total. If each unit rents for $1,500, that’s a gross income of $12,000 monthly. (For the purpose of this exercise we won’t be considering taxes or other fees, though you, as an investor, certainly should be. ) If you were to contract with Home365 Property Management for a basic comprehensive property management plan at an 8% rate, as an example, your property management fees on one month of business would be a modest $960. This leaves you with over $11,000 in revenue and eliminates a long list of chores and headaches that would otherwise need to be handled on your end. World-class, full-service property management isn’t always cheap, but neither is tackling your property’s day to day management and maintenance tasks on your own. New investors with expanding portfolios can be surprised to discover they’ve bought themselves a full-time job instead of a passive income generator. The solution is full-service property management, such as that offered by Home365. Where Do My Property Management Fees Go? Contracting with a qualified property management firm buys you an impressive list of benefits, with your own peace of mind not least among them. Only when you outsource some of your responsibilities to a property manager will your passive income properties truly start to become passive. Depending on the level of service you purchase, your property management plan might cover some or all of the following: Repairs, maintenance, remodeling. A good property manager can find and hire qualified contractors when your investments need work. Tenant screening and selection. Finding and retaining quality renters is a massive undertaking in and of itself. Your property manager will process and review rental applications, so you don’t have to. Evaluation and rent calculation. Are you buying property in an unfamiliar neighborhood and unsure what to charge for rent? A hands-on property manager with local knowledge can be instrumental in evaluating your property and setting the correct price point. Listing and advertising. A quality property manager will have established relationships with local advertising and media outlets, as well as a deep understanding of digital marketing. Lease renewals. If you’re managing multi-unit properties by yourself, it quickly becomes difficult to keep track of when everyone’s lease is up. Tenants living on your property without a current, binding lease can put yourself and your property at legal risk. When you’re working with a modern property manager, a portion of your property management fees go towards state-of-the-art software-based solutions to automate your lease renewal cycles and other aspects of your operation. Evictions. Eliminating a failed tenancy can be one of the most unpleasant (and dangerous) parts of owning a rental property. Having a property management company to act as a middleman in these situations diffuses tensions and improves results. Rent collection. Working with a property manager means never knocking on a door to ask when the rent will be paid. An efficient property manager will collect rent from tenants, process their own fees automatically, and pass the remainder of the revenue on to your accounts with zero hassle on your end. Reporting. A good property management company won’t merely give you results, they’ll give you data that you can use to plan your next move and further expand your operations. Is Property Management Worth It? As a property owner, you certainly have the right to manage and maintain your own units, but the popularity of property management services speaks for itself. Over 300,000 property management firms are registered in the United States, with many more individual, independent contractors offering similar services. Property management is a nearly $90 billion dollar industry in the United States that employs over 350,000 workers, and the sector is poised for additional growth. The demand for reliable rental properties has only increased since the onset of the Covid-19 pandemic, with economic uncertainty and rising prices continuing to keep certain demographics out of the home-buying market. Outsourcing your day-to-day rental operation to a solid property manager is a model that empowers both investors and tenants. You get the freedom to work on new acquisitions or other projects while knowing your properties are being cared for and properly managed. Your renters have direct access to someone who can solve maintenance issues and other concerns in a timely fashion. Good property management offers a rare win-win scenario where the value of a transaction is increased for both capital and consumer by adding a third-party service. Home 365 Full-Service Property Management Plans If you’re ready to take your rental properties to the next level, you need to partner with a reputable, high-powered property manager. Visit Home365 Property Management today and see how well their full-service plans fit your project. Get Free Quote --- > If You’ve Weighed The Pros And Cons And You’re Ready To Take Your Rental Business To The Next Level, Check Out Full-service PM Plans From Home365 - Published: 2021-09-14 - Modified: 2023-03-14 - URL: https://www.home365.co/general-knowledge/property-management/pros-and-cons-of-hiring-a-property-management-company/ - Categories: Property management New real estate investors sometimes come to the game with inaccurate ideas about what it will be like to become a landlord and collect “passive” income on a rental property. They may even think they can maximize profits by skipping out on third party contracts for things like maintenance or property management, and just handle these issues themselves, as they arise. However, owning a rental property isn’t easy. If you decide to forgo a contract with a reputable property management company, your bright investment idea can quickly send you into a spiral of unexpected headaches, hidden costs, and legal trouble. When Do I Need a Property Management Company? Anyone who purchases any rental or investment property should at least consider the option of working with a property manager. Your property management company will take care of finding and approving tenants, drafting and renewing leases, conducting routine maintenance, finding subcontractors for upgrades or remodels, collecting rent, handling tenant complaints, and even pursuing evictions when necessary, all on your behalf. If your investment portfolio consists of one or two single-family homes, you may very well be able to handle all of this on your own, but when dealing with multiple units or larger properties, projects and issues can begin to pile up and get out of hand. Whether you own one house or a city block, you only have so many hours in the day to handle these types of issues. A world-class property management company like Home365, with offices in Las Vegas, NV can do any or all of these things for you, typically for a small cut of the rent, amounting to no more than 10% for routine property management services (though highly customized packages to fully automate your operation and reduce risk may, naturally, be more). If you’re unsure whether you need to contract with a property manager, ask yourself some of the following questions: How many units do I have? If you have more than one or two units to manage, imagine what your life would be like on a week where each of your tenants calls with a separate issue. A non-flushing toilet or an oven that needs replacing don’t sound like major issues on their own, but think about what happens when you have half a dozen small problems all at once, plus other tenants behind on their rent that need to be followed up with, or other issues. Do I have time for this? If you’re already working another job, or trying to make property acquisitions into a full-time career, it’s simply not feasible to simultaneously manage your day-to-day rental operations and be on-call for tenants with maintenance issues while also living your best life. How far away is my property? If you’re located in a different town than your rental property, hiring a property management company is an absolute no-brainer. Even if your investment is only in the next town over, the constant round trips will eat up gas and put wear and tear on your vehicle, constantly eating into your profit margins. How badly do I need to save money? If pinching every penny isn’t absolutely necessary to your operation at this stage, you’re better off getting a property manager. While high-quality property management services aren’t cheap, there is some irony in the fact that they can actually be a lot more affordable than doing maintenance, leasing, and management activities by yourself, once you’ve factored in the costs of your time, labor, acquiring specialized equipment, and third-party contracts. Do I want to hire my own employees? One option that splits the difference between being a DIY landlord and handing your whole operation over to a property management company would be hiring a staff of your own. The annual salary for an office manager and a maintenance worker might very end up lower than the cost of contracting with a property management firm, but you also have to consider whether becoming an employer is something you really want. Hiring your own employees subjects you to a whole new set of legal requirements and obligations that can be circumvented by working with a third-party property manager instead. Pros of Hiring a Property Management Company At this point, the benefits of working with a qualified property manager should be apparent. Here’s a rundown of the big ones: More time for yourself No direct responsibility for tenant complaints No specialized maintenance knowledge (or tools) required No need to interact with difficult tenants or handle evictions in person Risk mitigation Professional expertise Existing relationships with local contractors and advertisers Peace of mind Cons of Hiring a Property Management Company Contracting with a property manager might sound like a pretty good idea after all you’ve read, but there are potential drawbacks to any business relationship, and it’s worth considering carefully whether working with a property manager is the right choice for you. Here are some of the things investors sometimes dislike about working with property managers: Loss of control. This is the major sticking point. When you hire someone else to run your rental business, you’re giving up a lot of control over how things get done. A property management firm will hire its own employees, screen and approve tenants without your input, and may even make superficial changes to the property in the course of conducting maintenance or upgrades. Cost. As we’ve discussed, a property management firm’s fees might be close to 10% of your rental income, which is significant. It’s also important, however, to consider the costs you’re eliminating by working with a good property manager, such as employee wages and separate maintenance contracts. Home365 Property Management Solutions If you’ve weighed the pros and cons and you’re ready to take your rental business to the next level, check out full-service property management plans from Home365 Property Management. Get Free Quote --- > If you’re wondering, “what does a property management company do?”, we will happily answer that for you. Click here for more information - Published: 2021-08-18 - Modified: 2023-12-29 - URL: https://www.home365.co/general-knowledge/property-management/what-does-a-property-management-company-do/ - Categories: Property management If you have recently invested in the real estate market, you may be wondering what comes next. Providing excellent property management is the next step to successfully renting and maintaining tenants in your property. So, what does a property management company do? Property management is essential for any real estate investor and rental tenant. Having the convenience of a property manager to service any issues that arise in your rental property can largely improve tenant rapport and provide positive reviews for future tenants. Rental homes can receive a lot of wear and tear over time; however, with Home 365, our services guarantee customer satisfaction. Proper Property ManagementIf you’re wondering, “what does a property management company do? ”, we will happily answer that for you. Property managers make investing in real estate a much easier process, while maintaining its profitability. Handling everything from administrative work regarding rental applications to hiring and managing maintenance workers on rental properties, property management companies provide a plethora of helpful services to property owners everywhere. Whether the owner lives out of state, or the landlord simply wants to entrust a professional to manage their rental listings, property agencies can help maximize your home investment. Having an on-site manager is beneficial if the property owner lives out of state, but additionally can be helpful for tenant relations. Establishing trust and respect with your tenants increases rapport and encourages them to renew their leases. Investment property owners mainly hire property management services to carry out routine home maintenance and screening duties. However, the primary purpose in hiring a property management service for rental investors is to reduce their risks, increase their financial return, and limit their time and commitment to the rental property. How Do Property Management Companies Work? With their knowledge and expertise on tenancy, your investment immediately increases when you hire a property management professional. Because they make sure your property is managed seamlessly, they increase your investment’s value. How do property management companies work? An adept property management company's responsibilities stretch far. Property managers wear many hats as they execute an array of duties to ensure you get a steady and strong stream of income from your investment. Some responsibilities of a property management company include:Tenant ScreeningsPerhaps one of the most important first steps is ensuring that the potential tenant meets the criteria, i. e. , providing 90 days of pay stubs, annual income, and addressing any other immediate disqualifications. The role of a property management company is to run comprehensive background checks to ensure you get quality renters. A property manager winnows out unqualified candidates and finds you reliable and respectful tenants from the beginning. Property AppraisalProperty managers will analyze your local rental market data, as it’s a crucial step in determining the correct price for your rental property. They will begin by carrying out several property appraisals and comparing the rental rates among similar properties to determine the proper rent. This saves you time and helps your listing, as the property management service will likely have an educated understanding of rental rates. Maximizing Your Rental YieldConducting open houses, hiring an interior decorator for staging, managing rental showings, and comparing local listings are critical factors in a property manager’s tasks for maximizing your rental yield. Having an expert’s knowledge in what sells a listing is priceless. Collecting RentProperty managers ensure that you are being paid on time by establishing an efficient system to collect rent from tenants. For example, if a tenant is late on rent, a property manager will communicate and address it immediately to ensure your income isn’t delayed. Property MaintenanceAn essential component of any successful rental property is maintaining your listing and addressing any issue, big or small, with haste. This can mean the difference in your tenant committing to another year’s lease or leaving your property with a negative experience. An excellent property manager will immediately call and set up a maintenance crew for the issue at hand and later check in with the tenant to make sure that it is no longer a problem. In addition, property managers will have a network of independent contractors and technicians for any issues that arise so that you don’t have to do the research and hiring yourself. All buildings experience day-to-day wear and tear, but routine maintenance can help maintain the value of your property. Paying Your BillsA property manager will pay your monthly maintenance fees. This includes utility and water bills, in addition to local taxes and long-term building maintenance fees. Having a manager ensures that all bills are being paid in a timely fashion, eliminates stress, and leaves you with peace knowing that your home is being well looked after. Conducting Routine InspectionsYour property management team will regularly conduct routine inspections and communicate reports to keep you in the loop of any maintenance repairs or issues. This can help you identify long-term capital expenses to address as well as any immediately necessary short-term repairs. In addition, this is incredibly helpful when determining a budget of yearly costs or improvements for your property. Administration and CommunicationOrganization and communication are key elements to any successful rental listing. Organization will keep you up to date on all property affairs and reduce time wasted looking for any lost documents or information required from your tenants. Property managers’ administrative tasks include record keeping, leasing agreements, rental contracts, postage, and preparing rental statements. Communication in the property management tenant relationship is vital, as it provides mutual respect and builds rapport. Tenants can rely on their property managers and know that they will quickly address any issues and are easily accessible. Keeping up With Tenancy LawsProperty managers regularly need to research any updated tenancy laws and regulations related to your property. It is their responsibility to ensure you are not outside any legal boundaries related to the landlord-tenant relationship. Additionally, it is a property manager’s legal responsibility to ensure that they meet state law requirements for your rental property. Excellent ServiceA great property manager communicates well with tenants and rental property owners. The duties of a property management company include meeting your needs and the needs of your tenants. Managers should be readily available to assist tenants and as they are working on behalf of the rental listing owner, they should also keep you in the loop and maintain your rental building. Having an expert property management service to help conduct your rental business can improve your rental demand and decrease your vacancy rates. Property management services lighten the load for property owners and take responsibility for a variety of tasks. They work on your behalf and maintain your property for you—finding the right agency and building a transparent relationship will make your investment a much more manageable, productive process. How Much Do Property Managers Cost? While each landlord-property management service relationship is different, a contract will be constructed through careful negotiation, including the individual costs for each element of a property manager’s duties. You may wonder how much do property managers cost. For example, property management services charge property owners to handle their administrative and rental repair upkeep for their rental listings. Each task and responsibility will be carefully written in the contract, so the expectations of the relationship are clear and laid out for both parties. Although pay varies from one property management service to another, generally, companies are paid between 8% and 12% of the property rentals income. Often property management services will require payment despite whether the tenant has paid on time or at all. In many contracts, you will see the phrases “rent due” or “rent paid. ” In many contractual agreements, property management companies prefer a set fee each month, while others agree to payments contingent upon the collection of rent. The agreed-upon contract will establish their preferred payment method and will only be negotiable if both parties agreed to an alternative. In addition to the percentage taken out of the monthly rent rate, a property owner will also be responsible for financing:Expenses and repairsAdvertisingCredit and background checksAccountingAn example of a property manager-landlord relationship might look like this: A landlord owns a collection of small condos. The property management service sources a handyman for repairs and maintenance every month. Because there are far fewer issues than that of a larger number of units, the issues can be itemized and consolidated into a collection of smaller bills. In addition, because the property owner has fewer rental listings, it makes more sense to be charged individually for specific maintenance repairs. Conversely, a landlord who owns an extensive collection of apartment units might be charged a flat fee by the property management service. Then, of course, if there is an unusual issue like a burst pipe or the replacement of the refrigerator unit, the landlord will be billed additionally for the expense on top of the flat fee already charged. Benefits of Property Management Hiring the right property manager holds a multitude of benefits, including: Well-Suited RentersYou want to rent out your property to good tenants. Reputable property management companies use a dependable and thorough screening system to choose tenants who are likely to pay your rent on time and minimize the wear and tear of your building. Property managers have screened thousands of tenants, and due to their experience, they can quickly recognize which tenants will fit well with your property. More Long-Term TenantsTo receive a steady income from your property, tenants should rent your building continually. It's a property manager's job to keep your renters happy — managers need to be readily available to meet your tenants' needs. Satisfied clients are more likely to rent a property long-term, meaning you won't have to deal with issues such as lost rental income, cleaning your property, changing locks and marketing your building over and over again. More Free TimePaying utility bills, organizing regular property maintenance and meeting your tenants' needs can take up a lot of time. As you get bogged down with management tasks, your property investment might no longer feel like a passive income stream. A first-rate property manager can streamline payments and maintenance issues and meet the needs of your tenants so that you can simply enjoy the profit you make off your property. Excellent Property Value ManagementEarly detection and repairs of property problems can prevent expensive repairs later on. A seasoned property manager understands how preventative maintenance safeguards your property value. Your property manager can maintain or even enhance your property's value by conducting routine inspections and keeping thorough records of issues and repairs. Steady IncomeBecause a property manager is skilled at selecting suitable tenants and available to meet their needs, renters will be more likely to pay rent on time every month. Property managers can also set up an easy way for tenants to pay rent, such as online portals — minimizing any issues that might arise with payments. Efficient ManagementAn organized property management system makes it easier to keep track of renters' concerns, maintenance and repair issues and payments. A top-quality property manager will keep you in the loop of all projects and payments, and with streamlined processes, a manager can lower your expenses in the long run. Let Home 365 Take Care of Your BuildingThe property management industry is a booming billion-dollar industry. In 2021 there are reportedly 275,000 property management companies in America in which there are 825,000 people employed. Finding a reliable and transparent property manager with excellent communication is very important. Selecting a poor management service can lead to negative tenant feedback and poor property maintenance. Carefully selecting a property management company that will support your specific needs can be a lengthy process. At Home 365, we provide a broad range of property management services across the nation. Our offerings include a free quote for your property. Ensure your investment is meeting its full potential by investing in professional property management. We look forward to partnering with you and creating a profitable, hassle-free property management experience. Get Free Quote --- > Focus on the profits and leave the property management maintenance to us. Get a quote today to get started. - Published: 2021-08-17 - Modified: 2023-10-23 - URL: https://www.home365.co/renovation-and-maintenance/property-maintenance-renovation-and-maintenance/property-management-maintenance/ - Categories: Property Maintenance When investing in property, there is a lot to consider about your purchase. With the market being as competitive as it is, finding and purchasing a property can be a significant undertaking. Once you find a property, maintaining it is a whole other task. Tenants, whether they are commercial or residential, have constant needs. From the moment they schedule a showing until they get their deposit back, tenants are a full-time responsibility. This process involves a lot of time and hands-on effort that many property investors do not have. However, as a property management company, we can help execute the day-to-day details that often get in the way of enjoying your investment property. Fortunately, you are not alone in property management maintenance. We are here to help alleviate the burdens of property ownership, so you can focus on the many advantages that come with your investment. Preventive Maintenance Is Key for Affordable UpkeepMajor property problems happen when owners let repair and maintenance fall by the wayside. The most damaging and expensive property problems are generally preventable. An irregular maintenance schedule is asking for serious equipment malfunctions and breakdowns. Properties need maintenance regularly for proper function and performance of elements such as the HVAC system, plumbing, pipes, sewer, water heater, appliances, roofing system, gutters, and more. The average costs of replacing major real estate features are as follows:New roof: $6,000-$12,000Gutters: $300Water heater: $550-$1,250HVAC system: $5,200Furnace: $3,900Exterior siding: $6,000-$8,500 Unless you have tens of thousands of dollars to spare, you’ll want to minimize the number of times you need to replace major equipment and appliances in your real estate investment. The best and most effective way to do this is by scheduling regular property maintenance. Maintenance is an affordable, budget-friendly technique that can keep major appliances in proper working order for years to come. Maintenance can extend the lifespan of your investments, keep tenants happy, and minimize your home improvement expenses. Property Management Maintenance Pre-Tenant TasksProperty management maintenance begins before a tenant even walks through the door. Federal laws state that the property owner is legally required to provide “reasonable care and maintenance” of the property they are renting out. This means that before you have your tenants secured, you must be sure that the property is safe for them to live or work in. This includes:● Ensuring that the building and units are up to local, state, and municipal codes. ● Supplying properly running water. ● Performing repairs. ● Providing trash and recycling receptacles from the city. ● Ensuring that the home is free of pests and mold. Some of these property management maintenance tasks can be completed relatively easily, while others require a tradesperson or specialist to complete the job. As the property owner, you are obligated to correctly solve any issues yourself or hire someone who can properly fix it. However, with a property management maintenance team on your side, we can take care of all of the pre-tenant tasks for you. Property Management Maintenance Tenant Maintenance and ManagementMany property owners do not equate tenants with property management maintenance, but they are inherently linked. Finding good tenants is central to ensuring that your property runs smoothly, and your investment is protected. When you find top-quality long-term tenants, there will be less cleaning and upkeep that comes from preparing for a new tenant. Long-term tenants usually care more about the property and are more likely to take care of it. Short-term leases, however, create more opportunities for property management maintenance through quick turnover and a general lack of investment in their home. Having a property management maintenance team on your side helps you properly vet and select rental candidates, no matter where you are. The process can be daunting and outright dangerous to do on one’s own, but with a property management maintenance team, it can lead to significant benefits for your investment. Property Management Maintenance RequestsOne of the primary tasks for property management maintenance experts is managing maintenance requests. It is natural, from time to time, for things to break down or stop working. As a property owner, it is your responsibility to handle these maintenance requests as they come in. If you fail to do so, the tenant may be able to take legal action. Some common property management maintenance requests that arise include:● Broken sink, faucet, showerhead, etc. ● Heat/air conditioning is not functioning properly. ● Clogged drains. ● Broken or faulty windows or window latches. ● Broken lock or the tenants locked themselves out. ● Broken toilet. ● Broken hot water heater. These are only a few of the things that can go wrong when you own a property. Unfortunately, when you handle all property management maintenance alone, you are obligated to fix the issue yourself or call an expert. Move Out Property Management MaintenanceWhen a tenant moves out, it is your responsibility as the property owner to ensure that the property is up to code for the next person or people who move in. Property management maintenance may involve a variety of tasks, including:● Repainting walls that are dirty or have otherwise been compromised by nails, markers, adhesives, etc. ● Caulking areas that nails have damaged. ● Cleaning or replacing carpeting. ● Changing air filters in the HVAC system. ● Replacing locks so that prior tenants cannot reenter with old keys. ● Changing broken light bulbs. Remember, the unit must be up to date and up to code at all times, especially when a new tenant moves in. You don’t want to be liable for accidents that occur due to negligence. How a Property Management Maintenance Company Can HelpWhen you invest in a property, you may or may not want to handle all of the above tasks. If you are of the latter group, a property management maintenance company is likely for you. A property management maintenance company like our team at Home 365 can complete all the above tasks for you. Rather than juggling the details of owning a property, you can outsource property management maintenance to individuals and teams that do it for a living. We will oversee all maintenance details while you remain free to sit back and reap the rewards of your investment. Remote Property Ownership With a Property Management Maintenance CompanyOne of the main perks of employing a property management maintenance company is the freedom it gives you to live and invest anywhere. However, it is a simple fact of the real estate industry that the market fluctuates in different areas. Therefore, if you believe that you have to live in an area to buy property there, it will be challenging to invest in high-quality properties. However, if you understand that property management maintenance can be done by expert companies rather than on your own, you have the opportunity to invest in the country’s most lucrative markets without having to relocate your family. Your property management maintenance company can handle the details while you invest in the property. Legal Logistics With a Property Management Maintenance CompanyUnfortunately, a lot of property management maintenance is borne out of obligation. The law states that rental properties must have specific codes and standards to operate as a rental. Unless you are an expert in the field, it can be challenging to keep up with these codes and understand the legal intricacies of the required standards. A property management maintenance company ensures that local, state, and federal standards are always met at your rental properties. Our entire job is to make sure that your properties are up to code, so you can be assured that you will not have to worry about the details. Finding ProfessionalsIf you decide to invest in a property in a lucrative market but that isn’t in an area with which you are familiar, it can be tough to locate specialists and professionals to fix your property’s issues. In addition, search engines often display pages that have paid for ads, meaning that it is difficult to know if a company is legitimate or if they’ve paid to appear first on the search list. From afar, this makes it challenging to know which specialists to choose. When you hire a professional team for your property management maintenance, you know that you are getting the best local specialists to work on your property. The local property management maintenance branch can help you to find plumbers, electricians, contractors, and more who will solve any issue on your property with ease. Property management maintenance can be extremely difficult, especially from afar. However, a local property management maintenance team can make everything feel much more manageable. It is like having a local guide available to you, your property, and your tenants. Choosing a Property Management Maintenance CompanyWhen looking for a property management maintenance company, it is essential to find someone you trust who meets your needs. The property management maintenance business has been around for many years. Therefore, it is essential to be sure that any companies you are considering have modernized and are ready to handle your property properly. You also want to be sure that your property management maintenance company shares your priorities and values. As the company will be caring for your property, you want to be sure that its team will care for your investments in the way that you would, or better. Contact Home 365Here at Home 365, we blend property management maintenance with the modern era. Born in Silicon Valley, our company is entirely modernized and ready for the contemporary investor. We handle most of our business through our website or app, so you can ensure that the resources you need are always available to you. These modern, technologically advanced portals allow us to conduct business with you and your tenants in the most efficient way possible. What’s more, our cutting-edge practices give us access to the professionals who are indeed the best in their fields. No more shopping for plumbers and maintenance specialists; we have it all covered. Focus on the profits and leave the property management maintenance to us. Contact us or request a quote today to get started. Get Free Quote --- > Having trouble filling rental vacancies? These four methods will help you attract new tenants and reach full occupancy sooner than you think. Read more! - Published: 2020-07-10 - Modified: 2023-04-25 - URL: https://www.home365.co/general-knowledge/are-you-looking-to-fill-a-rental-vacancy-try-these-four-methods-to-attract-new-tenants/ - Categories: General Knowledge When reports of COVID-19 first began to surface overseas, very few property management experts could have predicted the severe impact the US rental market would experience. However, now that the pandemic is at full scale, most of the nation has seen the results of the regulation change first-hand. With shelter-at-home, social distancing, and business closure regulations in place, how can you get your share of the reduced number of potential tenants in search of new rental properties? As most Las Vegas property managers are aware, the traditional techniques aren’t as likely to be effective even after COVID-19 subsides. As the rental season heats up, try these innovative tactics to attract new tenants: Build on your potential renters’ time online. With people spending additional time on social media platforms, attention to these sites in addition to traditional listing sites is key, particularly for attracting Generation Z renters. Develop a strong presence on the social sites frequented by your ideal tenant base. Post frequently and creatively, increasing the potential views of your business. Make sure to include thorough, media-rich descriptions of your available properties. Make the most of your curb appeal. While stay at home orders have forced people inside for the majority of the day, many must still venture outside to complete errands and participate in physical activity. Maintaining a property with excellent curb appeal means you’ll stand out above the rest to the pool of potential renters while others have paused their upkeep. Ensure exterior paint, landscaping, signage, lighting, and overall cleanliness are well above par. Institute a referral program. Whether you have a large group of tenants or a few select families, you can enlist their help to find qualified, reliable renters for your open Las Vegas properties. You can choose to offer a financial bonus, rent credit, or even a small token of appreciation in exchange for rental referrals. Overhead is minimal and often results in a pool of potential renters that are a good fit for your property. Utilize a rental property management system. When you use a property management system for rent collection, maintenance requests, and more, your potential renters know right away that you’re up to date with the latest in technology. In addition, the option to use an app for the most common tenant activities can be a big draw for Las Vegas tenants. The benefits continue when it’s time for move-in, move-out, and renewal day – rental property management systems streamline these procedures, reducing headaches for you and your tenants. It isn’t easy to attract new tenants during a pandemic, but the above tips can have you on your way to full occupancy sooner than you might think. Best of all, Home365 can help you with all stages of the rental property management process – our proven system has benefited thousands of property managers in Las Vegas and beyond. For more information, contact us today. --- > Virtual tours have never been more important than now. Consider these tips when virtually showcasing a property to a prospective tenant. Read more! - Published: 2020-07-10 - Modified: 2023-09-29 - URL: https://www.home365.co/general-knowledge/seven-tips-for-conducting-virtual-live-tours/ - Categories: General Knowledge During these times, entities such as the National Association of Realtors encourage measures like providing virtual property tours to prevent contact. While property owners and potential renters alike have likely experienced virtual tours before, they’ve never been more important than they are now. Your potential renters need to see your property before they make a decision, and a virtual live tour may be the only way to showcase your Las Vegas rental property.   Previously, virtual live tours served to set you apart from other property management firms; now, however, you’ll want to make sure you conduct your tours in a way that showcases the property and is pleasant for prospective tenants to view. Consider these tips: Host a pre-session. Whether you’re arranging a virtual live open house or providing a private tour, host a live session or send out a questionnaire prior to your tour to gather insight into what your potential renters want to see from your tour. Then, you can address these questions during the tour and prepare for follow-ups afterward. Address technology concerns. Check equipment concerns like your camera resolution, WiFi connectivity, electrical sources, and battery life before the tour. In addition, consider accessories like a gimbal, which allows you to steady your camera and fluidly turn it to show the full expanse of each room. Practice. Even if you’ve performed numerous live tours or recorded video tours before, a virtual live tour proceeds a little differently. Be sure to do a walkthrough, practicing your steps, rehearsing your commentary, and highlighting potential issues before the real deal. Build a personal connection. You’re the face of your tenant’s experience – begin the tour with a welcome message where the viewers can see your face and get a sense of your personality. Remain warm, engaging, and friendly throughout. Stay engaging at all times. Your tour should remain dynamic, keeping viewers engaged and interested in your property. After you’ve made your key points in a particular area of the property, ask your viewers what they think or what they liked. Doing so can help you address potential questions you may forget about later. Adjust to the elements. When you’re scheduling a live event, you can’t predict the weather. However, if it’s windy, avoid stepping outside as much as possible; if it’s gloomy or rainy, ensure the property is lit well from within. Ask the final questions. Highlight the fact that you’re pleased to be offering these virtual services during these uncertain times, and ask for the viewer’s likes, dislikes, and questions. Addressing these concerns while on the property saves you from additional fact-finding later. Now is a crucial time to hone your technical expertise as it relates to your Las Vegas property management duties. Fortunately, Home365 is an industry leader with keen insight regarding the additional tasks a virtual property management system can handle. Contact us today for more information. --- > Thinking of renting out a vacation home? Before you decide whether it is the right investment for you, learn about the benefits and drawbacks. Read more! - Published: 2020-03-19 - Modified: 2023-03-14 - URL: https://www.home365.co/general-knowledge/real-estate-investing/are-vacation-homes-the-right-investment-for-you/ - Categories: Real estate investing One of the increasingly growing trends in the rental property field is renting out vacation homes, such as beach houses. As an investment opportunity, it can bring high-paying tenants to you who want to rent out a unit for their seasonal vacations. However, there are certain factors you should consider, such as maintenance, location, and rate of occupancy, before you decide on whether vacation homes are the right investment for you. Learn about the benefits and drawbacks of renting out vacation homes which has similarities to renting out your own home.   Pros of Vacation Home Rental Renting out a vacation unit offers many benefits that ensure its place as one of the top practices among homeowners and landlords.   Seasonal profit. Vacation homes are in demand depending on the location of the property and the season. If you purchase a unit in an attractive place, and furnish the property well, you will create an area in high demand. You can also charge premiums during this time, and if you provide a positive experience, you can enjoy word-of-mouth benefits, such as both new and returning customers. Tax breaks. The government considers the renting of vacation homes a business. Due to this, you are eligible for some tax deductions. Consult with a tax advisor to learn about the state’s taxation system and how it applies to your property. You are eligible to take deductions on property expenses, losses, and some business-related travels you make. Second home benefits. Just like in other real estate investments, a second home will increase in market value the more you hold on to it. If you maintain the building and hold on to it for a while, you can sell it at a higher value than it originally had when you bought it. Plus, you can use this property as your own vacation home during the off-seasons.   Cons of Vacation Home Rental Before you embrace vacation home rental, there are a few disadvantages you should consider in order to determine if the practice is the right move for you.   Holding costs. When you are not making money from peak vacation seasons, you are paying off the property holding costs. Some of the costs you must keep up with include insurance, property tax, maintenance, and sometimes mortgage. These costs can eat up any profits you made from the homes. Increased risk factors. A vacation home is sometimes prone to more risk factors than a regular property. Most of these risks are related to the weather and terrain conditions, from beach houses and tropic storms to winter cabins and avalanches. Maintenance and care. Just like all properties, a vacation home requires maintenance and care in order to function well. This might become an issue if you prefer life as a distant landlord. Keep up with news about the condition of your property and hire a property manager and contractors to perform routine maintenance on your property.   No matter what kind of property you are renting out, Home365 provides you with the right tools to enhance your property management. Contact us today to set up a free demo of our services. --- > Many believe that winter is the worst time to buy or sell a home. Is it a fact? Learn more about how a specific time of the year can affect your business. - Published: 2020-03-06 - Modified: 2023-03-14 - URL: https://www.home365.co/general-knowledge/real-estate-investing/is-there-really-an-off-season-for-buying-selling-in-hot-markets/ - Categories: Real estate investing   In the world of real estate, many professionals believe that winter is the worst time to buy or sell a home. But is there any fact to this belief or is it just a superstition? Also, can the reverse be true of hotter seasons, like summer and spring? Learn more about how a specific time of the year can affect your efforts to buy or sell a home.   Best Time to Sell So, are spring and summer truly the best time to buy and sell homes? The answer is yes, but to a point. Summer and spring, particularly the period between March and May, are the times where the market is the most active. However, this isn’t always the case. For instance, while San Francisco’s best times were during those months, San Diego saw the highest sales in November instead. This is because San Diego has a very even, consistent climate throughout the year, providing no obvious optimal time for the market.   So, while spring and summer are generally the best times to sell a home, there is a difference depending on the location. The factors that affect the best market time between states include:   Weather Hours of sunshine Temperature Time zone differences If you are looking to buy or sell a home at the most efficient time, research what the busiest period is according to your area.   Advantages of Winter Even a traditional winter that real estate experts would find unappealing has its own set of benefits. For some people, buying and selling homes in the winter is the ideal time because of some unexpected advantages.   Winter has less competition, so buyers have more incentive to purchase a home. There are more serious buyers in winter that don’t want to lose their offers waiting until spring. More people are willing to spend money due to end-of-the-year bonuses, leading to quicker transactions for the sellers.   Solutions for Winter Someone willing to take advantage of the small, but reliable winter market can take a few steps to improve his or her home and make it more attractive to winter buyers. Some of these steps include:   · Clearing the driveway and path from snow for your buyers Using up-to-date photos that show off your home’s beauty during the winter Keeping open access to the house, even during unlikely times, like Christmas and New Year’s Cleaning your home just as much as you would during the spring Pricing your home at market value or an appropriate price, just as you would during the spring Adding plenty of color to your home to offset the inherent dullness of winter Cleaning your windows so buyers avoid seeing dirt or grime that was previously hidden Keeping the heat up in your home to make your home feel inviting and energy efficient   Learn more about Home365 and our efficient maintenance services today. Schedule a free demo.   --- > Take a break and share a laugh with us as we peruse some of the best tenant, landlord, and property manager jokes out there. Click here - Published: 2020-02-19 - Modified: 2023-09-29 - URL: https://www.home365.co/general-knowledge/property-management/eight-tenant-landlord-and-property-manager-jokes-you-should-hear/ - Categories: Property management Real estate investment is a serious business. Sometimes, however, things can get too serious. Take a break and share a laugh with us as we peruse some of the best tenant, landlord, and property manager jokes out there. 1. Even Landlords Have Puns The other day, I found a bunch of ants running around frantically in one of my properties. I felt bad for them, but they needed to be removed. Fortunately, I found a cardboard box and made a sort of makeshift house for them. Now, I am their landlord and they are my... Tenants. 2. King of the Castle Recently, a tour guide was leading a group of tourists through a famous, ancient castle in Germany. “This castle was built nearly eight hundred years ago. All features are original – not one stone has been changed, not one wall has been altered, and not one upgrade, superficial or functional, has occurred in all these years. ” “Wow-” interrupted a woman, rolling her eyes. “They must have the same property manager I do. ” 3. Utility Futility Recently, my property manager called, wanting to discuss my obscenely high heating bill over the last few months. “Come on by,” I told him. “My door is always open! ” 4. When the Landlord’s Finally Had It My landlord walked in the other day, threatening to kick me out. Her reason? I hadn’t made a single rental payment in years; just listen to what she had to say. “Come on, son – you’re 35. Don’t you think it’s time you found a place of your own? ” 5. The PM and the Yoga Instructor Question: What did the yoga instructor say to her property manager after receiving an eviction notice? x`Answer: “Namaste. ” 6. Do Not Disturb Recently, my tenants called me over to their apartment for some repairs. In the process, they mentioned that the occupants of the upstairs apartment were rather noisy. “Most nights,” he said, “they make a scene and stomp on the floors until well after two AM. ” “Wow,” I said. “And that doesn’t bother you? ” “Not really,” said the tenant. “I’m usually up that late anyway, practicing my trumpet. ” 7. Even Landlords Seek Help Question: Why was the landlord seeing a psychiatrist, a clinical psychologist, and a licensed counselor? Answer: He had an apartment complex! 8. It’s a Fair Statement I recently overheard two women on the train discussing their apartments. “My landlord only reaches out when he needs something from me,” complained one. “Oh, I know! ” Sympathized the other. “Landlords are so stuck up. It’s like they own the place! ” --- > As an added advantage, our virtual management systems can enhance your ability to manage your investment property remotely as well. - Published: 2020-02-12 - Modified: 2023-03-14 - URL: https://www.home365.co/general-knowledge/real-estate-investing/can-you-trust-purchasing-an-investment-property-without-seeing-it/ - Categories: Real estate investing How are potential investors to accurately assess an investment property if they can’t see it first? As it turns out, many Miami and Las Vegas investors are able to make solid investment property purchase decisions, sight unseen. In fact, it’s quickly becoming the norm in the real estate investment world today. In addition, even for uncomfortable investors, it’s relatively easy to perform an investment assessment and even manage properties with some of the newest technology in real estate. Why Don’t You Need to View a House Before Purchase? For the many investors we’ve encountered recently who choose to make an investment property decision without an in-person visit, the reasons are quite simple. Here are some of the most popular: Investors are usually not appraisers or inspectors. Let’s face it – when you’re purchasing an investment property, you hire a home inspector and an appraiser to make the necessary, in-depth inquiries into the state of the home. Most investors don’t make observations that aren’t already on the radar of the inspector. Most home sales are not scams. One common fear is that investors will purchase an investment property that doesn’t exist, at least not at the sales address. Again, this scenario is avoidable the moment you hire an inspector or appraiser, who will verify its existence. Remote purchases are more convenient and less expensive. If you’re an investor purchasing an investment property in a few different locations, it simply isn’t feasible to perform a thorough walkthrough of each. In fact, the cost of airline tickets and time away from your business alone can be a limiting factor and making remote decisions doesn’t require either. You don’t personally inspect your investments in many other arenas. Think about it – are you traveling to an Amazon warehouse to inspect your goods before purchase? Do you meet with an eBay seller to visually affirm the existence of your items before ordering? In both cases, you’re able to trust the specifications and photos provided to you, and you should feel comfortable doing the same with investment properties. Technology exists for those who may be uncomfortable. Companies like Zillow, Trulia, Redfin and others are acknowledging some potential purchasers’ nerves when it comes to remote purchasing. Tech advances like 3-D cameras, virtual tours, and other innovations are making it much easier to trust that what you see in the photos does, in fact, exist in real life. Many of Home365’s clients choose to buy investment properties without visiting them first. As an added advantage, our virtual management systems can enhance your ability to manage your investment property remotely as well. Reach out at your earliest convenience to learn more about our property management services and receive a free quote. --- > Nearly every Las Vegas area landlord has at least one horror story to share on tenants from hell. Read Home365's list of tips on how to avoid them. - Published: 2020-02-05 - Modified: 2023-04-11 - URL: https://www.home365.co/general-knowledge/how-to-safeguard-your-property-against-tenants-from-hell/ - Categories: General Knowledge Your tenants seemed like perfectly pleasant, reasonable people when you met with them – their credit was passable, the children seemed well-behaved, and there were no pets in sight. Unfortunately, now it’s months later, your tenants are nowhere to be found, and they’ve left behind a sea of discarded possessions, broken appliances, damaged walls, and what happened to the carpet could only have been perpetrated by several very large animals. In fact, there’s very little your tenants didn’t leave behind – aside from the previous two months’ rent. How Can You Avoid the Tenants From Hell? Nearly every Las Vegas area landlord has at least one horror story to share about their own run-in with what seem to be the tenants from hell. Fortunately, most also have insider tips and lessons learned to share regarding how to avoid them. Here, we’ve compiled a list of some of the most useful. Utilize a tenant application. You can’t begin to determine a prospective tenant’s fitness to rent without asking the right questions. Asking for personally identifying information is key, but you’ll also want to request references, previous landlords, and proof of income. In addition, ask about important factors like pets, children, smoking, and criminal history. Screen your tenants. Once you receive an application, run credit checks, background checks, research the information provided on the application, and take the time to contact each and every one of their references and previous landlords; it’s the best way to learn all you can about how they treat a property, directly from the source Build high expectations. You’ll want to require a verifiable income of at least three times the monthly rent to ensure your tenants can continue to pay rent. If you want to avoid pets, smokers, or other factors, say so and stick to your decision. Hire a property manager. A property manager will act as an essential link between you and your property. Your property manager will collect rent, ensure maintenance, give attention to problems as soon as they crop up, and enforce the details of the rental agreement. Procure landlord insurance and rent guarantee. As you’ve discovered, even when tenants seem like decent people, you can still end up with tenants from hell. Landlord insurance can cover the building, contents, accidental damage, and even cover the rent if your tenants stop paying. Property management services like Home365 include many of these accommodations within the OneRate plan. Avoid paying dearly for damage and missing rent caused by the tenants from hell by following the steps above. For superior property management services and a rent guarantee, turn to Home365. Contact us today for more information, or request a free quote via our online form. --- > PropTech and InsureTech are two buzzwords that have recently appeared on the Las Vegas rental market scene. What are they? click here to find out - Published: 2020-01-29 - Modified: 2023-03-14 - URL: https://www.home365.co/general-knowledge/what-you-should-know-about-proptech-and-insuretech/ - Categories: General Knowledge PropTech and InsureTech are two buzzwords that have recently appeared on the Las Vegas rental market scene; in fact, it’s difficult to have a business conversation with another property owner or property manager without one of these terms appearing. What are   PropTech and InsureTech? Perhaps more importantly, how have PropTech and InsureTech revolutionized the property rental community, and how can they do the same for your rental property business?   What Are PropTech and InsureTech? Both PropTech and InsureTech represent technological advances in the property rental sector. Individually, PropTech represents the property management portion of the digital revolution of the property industry. This revolution inspired digitally-based PropTech startup companies that offer unique technologies and innovative, paperless, property solutions to the industry.   InsureTech represents similar changes and innovations within the insurance industry. For the investment property community, InsureTech companies offer unique devices capable of affecting price premiums, hyper-customization of policies, and even AI substitutes for the traditional insurance brokers. In both categories, all this technology is geared towards one goal – to inspire fair prices and communications, as well as increase convenience for property owners and tenants alike.   Is Your PM Company a PropTech? If you’re wondering just how much companies like PropTech and InsureTech businesses have affected life as we know it, just take a look at your smartphone. Chances are, your home screen is inundated by music tech apps that transformed the music industry years ago, video apps that disrupted the television industry, and a host of rideshare, financial and security apps that did much the same. PropTech and InsureTech promise to continue to make property management and insurance solutions much more accessible to you and your renters.   PropTech offers all involved multiple benefits, like:   Increased insights into property conditions Ease of access for maintenance requests and responses Better communications Consistent flow of information in both directions   If you can build a better awareness of tenant and property needs and streamline the ways in which you address them and notify the tenant you’ve done so, PropTech becomes much more than a good idea. Better yet, utilizing the innovations of a PropTech PM can increase the perceived and actual value of your rental property, making PropTech a no-brainer. As innovations continue and technology revolutionizes the industry, you’ll want to make sure your rental business takes advantage.   Home365 is an industry leader in transforming property management as we know it. If you’d like more information about what Home365 can do for you, contact us for more information. Alternately, complete the online form for a free quote. --- > Preventive maintenance allows you to identify issues when they are small problems before they result in larger, more expensive issues. Read to learn more! - Published: 2020-01-23 - Modified: 2023-04-11 - URL: https://www.home365.co/renovation-and-maintenance/why-preventive-maintenance-is-critical-for-your-investment-property/ - Categories: Property Maintenance, Renovation and Maintenance Performing necessary maintenance on a home is an essential task for any homeowner. However, for rental property owners, it is especially important to ensure you engage in maintenance tasks. Preventive maintenance is essential to avoid additional issues down the road. What Is Preventive Maintenance? Preventive maintenance is a set of home maintenance tasks performed on a regular basis to reduce the likeliness of the home needing repairs or failing later. Most importantly, preventive maintenance tasks are performed before the failure of the home, thus preventing these issues. Preventive maintenance consists of tasks like: Changing HVAC filters on a regular basis – ask tenants to change filters at least once every ninety days to aid in airflow and reduce strain. Performing semi-annual service of HVAC equipment – addressing mechanical issues and performing basic maintenance should take place every fall for your furnace and every spring for the air conditioning unit. Cleaning gutters, downspouts, roof eaves, and valleys – removing clogs and decaying leaf debris each fall prevents excess, trapped water from entering the roof structure. Inspection and repair of minor water damage – checking for water damage can help you identify leaks so they can be repaired. Repair of caulking – once per year, remove caulking, address any associated water damage, and replace. Draining and flushing hot water heaters – servicing a water heater can remove harmful sediment and extend the life of the system. Sump pump inspection – if you have a sump pump in the basement, ensure it remains in working order to avoid any surprises during the rainy season. Why Is Preventive Maintenance Good for Your Property? Your rental property is a huge investment, as well as a source of passive income that can continue to provide you with positive cash flow for years to come. Preventive maintenance is one method of protecting your investment, allowing you to identify issues when they are small problems. Then, you can address them with the proper small repairs before they result in larger, more expensive issues that need elaborate repairs. By regularly engaging in maintenance, you or your maintenance tech are able to observe the condition of the home over time, increasing the likelihood that you will notice any previously invisible issues as they appear. In addition, elements such as your HVAC system, roof, doors, windows, and hardware need the necessary attention to continue functioning at a high level. Ensuring your equipment is clean and operable will allow it to run efficiently, saving you even more money in the long run. Contact Home365 Today Engaging in preventive maintenance is an important part of being a rental property owner that can optimize the eventual return on your investment. Fortunately, Home365 offers two free preventive maintenance appointments each year for all OneRate customers. For more information about preventive maintenance or to receive a free quote, utilize our online form. --- > When taking up a new hobby, it’s important to know the lingo of what you’re trying to play. Here's a list of the property investment terms you must know - Published: 2020-01-15 - Modified: 2023-03-14 - URL: https://www.home365.co/general-knowledge/real-estate-investing/eleven-must-know-terms-for-real-estate-investors/ - Categories: Real estate investing When you take up a new hobby, whether it’s gaming or golf, it’s important to know the lingo of the thing you’re trying to play. The same goes doubly when you’re entering into a new investment arena. For property investors, the stakes are much higher, since ignorance of commonly used terms can affect your bottom line. With that in mind, we present a curated list of the property investment terms you must know to maintain success in the business.   Appreciation – calculation of the increase in a rental property’s valuation over a period of time. Improvements, inflation, increased demand, or reduced supply can cause appreciation.   Cash Flow – the amount of money rental property investors can pocket at the end of each month as a profit after mortgage and all operating expenses are paid. Positive cash flow means you’ve earned more than you spent, while negative cash flow means you’ve spent more than you earned.   Cash on Cash Return – a ratio of a rental property owner’s annual cash flow to the total cash invested in the property, calculated as a percentage.   Capital Expenditures – typically large, one-time purchases or investments towards improvements to add value to a rental property or extend its life as a rental. Capital expenditures are typically paid with capital reserves.   Capitalization Rate – an essential calculation for comparing investment properties according to the rate of return expected from the property, capitalization rate – or cap rate – is calculated by dividing your annual net operating income (NOI) by the property’s purchase price.   Carrying Costs – any expenses necessary to rehab a property until the point at which it is either rented or sold and begins returning some of the initial investment.   Debt-to-Equity Ratio – this ratio is used to determine how much of the home is owned by the owner. It compares the total amount the owner has invested in the equity.   Equity – the difference between the current value of a property and the amount still owed on the mortgage. This amount accumulates over time as the mortgage’s balance decreases and the home’s value experiences appreciation.   Net Operating Income (NOI) – a calculation of net yearly income calculated by deducting operating expenses from the annual income generated by a property.   Passive Income – taxable earnings resulting from the operation of a rental property with which the owner is not actively involved.   Return on Income (ROI) – the measurement is taken of a property’s net profit to the owner relative to total acquisition costs. ROI is calculated as a percentage.   Whether you’re new to the rental property market or simply looking for a better solution for your property management needs, it’s important to develop a solid understanding of the terms involved. Please reach out to Home365 for more information regarding our Las Vegas, Orlando, Houston, or LA property management services or to request a quote.   --- > In Las Vegas, more and more property owners choose rent guarantee to avoid interruptions in cash flow. Click here for more information - Published: 2020-01-08 - Modified: 2023-04-11 - URL: https://www.home365.co/general-knowledge/property-management/why-you-need-rent-guarantee-for-your-investment-properties/ - Categories: Property management If you own a Las Vegas investment property, you’ve likely come to appreciate the stability this monthly source of passive income can bring. However, the financial difficulties caused by defaulting tenants have the potential to negatively affect your rental business. In a sector where ceasing business with a tenant can cost thousands but missing rental payments can cost you more, more and more property owners are choosing rent guarantee to avoid interruptions in cash flow. What Is a Rent Guarantee? A rent guarantee is where your Property Management company pays your rent on time regardless of the tenancy. It's a rare "insurance-like" feature that involves an applicable monthly applicable deductible that ensures your continuous stream of revenue regardless of whether your tenant pays late or fails to pay due to a lost job, reduction in income due to a sudden illness, or financial irresponsibility. A rent guarantee will ensure you continue to receive rent! What Are the Benefits of a Rent Guarantee? Aside from the obvious financial benefit, rent guarantees hold numerous benefits for property owners. Among them are: Lowered risk – instead of the constant personal financial risk usually incurred by property owners and influenced by each individual renter, the risk is transferred to the much more financially stable property management company offering the guarantee. Reduced hassle – regardless of how you currently collect rent, overseeing multiple payments can be a hassle. Our Ultimate Coverage plan offers rent guarantees as part of a full suite of property management services, offering full predictability. Eviction service – in the event that your tenant stops paying altogether, the company offering the rent guarantee will also oversee eviction proceedings as well. Home365's Comprehensive Expense coverage includes eviction as well! Reduced stress – one of the largest sources of landlord stress is the financial stress missing rent payments can bring. Rent guarantees eliminate this possibility, reducing landlord stressors significantly. In short, rent guarantee is a rarity that unique to Home365 it aims at reducing uncertainty in an often unpredictable market. Contact Home365 Today If you own a rental property in Las Vegas, Los Angeles, Orlando, or Miami and crave the cash flow stability that comes with a rent guarantee, Home365 has a solution you can feel secure with. Contact us or request a quote and more information online at your earliest convenience. We can help you find a property management plan that fits your budget. --- > Home365 shares with you the best ways to find high-quality tenants without meeting them face-to-face. Click to find out how to do just that. - Published: 2019-12-23 - Modified: 2023-04-25 - URL: https://www.home365.co/general-knowledge/property-management/how-to-screen-tenants-without-meeting-them/ - Categories: Property management   Most property owners will agree that thorough and proper tenant screening is one of the most critical things you can do to be successful. After all, there’s nothing worse than placing a problem tenant in your rental property. When you do that, you risk property damage, late or non-payment of rent, and even lengthy court battles.   But would you ever approve a tenant without having ever met them?   Some traditional property owners would respond with a resounding “no;” Meeting with a tenant in person is a great way to really tell whether they’re a good fit for your rental. However, by using a reputable Vegas rental property management company, many international investors have found success.   Today we’re going to share with you the best ways to find high-quality tenants without meeting them face-to-face. Trust us, it can be done if you approach it the right way. So, let’s find out how to do just that.   5 Tips for Screening Tenants You’ve Never Met   1. Understand Where the Risk Lies Of course, there is always going to be an element of risk when you screen and approve a tenant you’ve never met before. In fact, many people will say that it was only after meeting a tenant face-to-face that they decided to decline their offer.   However, rental property owners are human just like anyone else. And while gut instinct has its place in the world, it has been known to be wrong from time to time. So, relying solely on the energy you feel when you meet a tenant in person to decide whether to lease your property or not isn’t rational.   Remember, it’s the tenant that carries the most risk when they agree to rent your home without having met you or seen the place. And if you do things right, you’ll ask your tenants for an application and holding fee when they show enough interest.   Anyone that’s willing to hand over that kind of money to someone they don’t know takes the bigger risk. It also shows they are serious about leasing from you and are likely to be decent tenants.   2. Be Strict With Your Process Just because you’ve decided not to meet with tenants doesn’t mean you should become lax with your entire screening process. If anything, the tenant screening process you follow should become stricter.     Here are some best practices to follow during the vetting of prospective tenants: Understand the demographics of the area and determine an average household income to compare with your rent rate Choose a minimum credit score you’ll accept Run credit and background checks on every single tenant that applies and evaluate the results Take into consideration the security deposit during employment and income verification The stricter your criteria, the better your chances are of placing a good tenant in your property. Of course, you never want to discriminate against protected classes while screening tenants. But having a threshold for what you will and will not accept is perfectly fine.   3. Follow up on References It’s important you require three types of references from all prospective tenants: Previous Landlord: find out whether your potential tenant gave their last landlord any issues. This might include late rent payments or property damage. A landlord will happily tell you whether a tenant is good or bad because they have no personal attachment. Employer: how your tenant acts at work can be a good indicator as to what kind of person they are. Again, an employer is likely to remain objective and honest about a tenant’s conduct. Personal: though no sane tenant gives the number of their biggest foe as a reference, it’s good to round out the screening tenant process with a personal reference. If you use Vegas rental property management to help screen potential tenants, they'll require the references and follow up with them for you. Not to mention, even if your property manager requires a tenant to physically hand in an application, you won’t have to be there during the drop off.   You will, however, have a say in whether to approve the tenant or not, even without having met them in person.   4. Learn the Red Flags You can identify many red flags in a tenant without meeting them face-to-face. In doing so, you avoid placing a bad tenant in your property and running into major issues later on.   Here are some of the most important red flags to become familiar with: Tenants that have nothing good to say about their previous landlord (and place all the blame elsewhere) Unstable employment or income Those with prior evictions, regardless of the explanation Any type of criminal background People who have moved many times within a small period of time Anyone who has been living with a friend or relative without just cause   Knowing the signs that make up a bad tenant will save you time and money in the long run. Plus, it will help you choose the tenant you want in your rental.   In the end, your prospective tenants will either pass or fail your screening process. Meeting them in person won't make a difference either way.   5. Use Vegas Rental Property Management to Help Are you in need of Las Vegas property management? If you find yourself struggling to screen tenants thoroughly, it’s a good idea to invest in a reliable Vegas rental property management company to help.   An experienced property manager will be able to properly screen and place high-quality tenants in your investment properties. Plus, they'll take the pressure off you to meet your tenants in person. If you decide you want to screen tenants without meeting them in person, but need the help of Vegas rental property management, contact us at Home365 Property Management. We handle tenant screening so you don’t have to.   But more than that, we offer services like rent collection and maintenance repairs in a digital way, elevating your experience as a rental owner to convenient and hassle-free. For a monthly flat fee, you'll never have to meet another tenant in person again. Better yet, you'll never have to worry about placing a bad tenant in your rental again either.   --- > Knowing how to encourage renters to pay on time can help address one of the biggest hassles of owning an investment property. Click for more info - Published: 2019-12-18 - Modified: 2023-04-11 - URL: https://www.home365.co/general-knowledge/property-management/how-to-reduce-late-payments-and-collect-rent-on-time/ - Categories: Property management Late rental payments are an inevitable downside of being a rental property owner. Despite rigorous tenant screenings and credit checks, situations arise, and late payments can become habitual. Knowing how to reduce the likelihood of late payments and encourage renters to pay on time can help address one of the biggest hassles of owning an investment property. Simplify the Process If you want to spend less time arguing with renters over timely payments, make paying the rent as convenient as possible. Offer online payment options, or, better yet, automatic ACH debits from a bank account each month. Another possibility – though admittedly less popular – is taking 12 post-dated checks at the time of lease signing – one for each month over the course of the lease term. Automation can also help increase the likelihood of on-time payments. Create a reminder system or send push notifications via an app to renters to remind them of the date. When make paying as convenient as possible, you increase your likelihood of receiving those payments on time. Screen Each Applicant Thoroughly Though most property owners understand the value of the screening process, some are not as thorough as they could be in the interest of expediency or convenience. Be sure to check references, including employer or past landlords. If a candidate is young and does not have sufficient credit history, consider requesting a cosigner as an extra layer of security. Finally, ask for bank statements or pay stubs to ensure that a candidate is in a financial position to reliably pay the rent. Remember, under the Fair Housing Act, you must use the same screening process for all applicants. Increase Communication With Late Payers If the late payment of rent becomes habitual, take steps to increase the communication with the tardy tenant. Tailor reminders and, if possible, find out why the late payment is occurring. There may be a special circumstance that justifies adjusting the timeline so a tenant pays on a different day that works with their budget. What Are the Benefits of Having a Property Manager? Having a quality property manager can take the hassle out of owning and renting a property. The benefits of having a property manager are numerous – for example, they take on all aspects of the screening and rent collection process. Home 365’s tenant management system allows applicants to view reminders and report problems with ease. With other features like online payment, Home 365 makes owning investment property a breeze. --- > We are all prone to making mistakes, knowing the most common mistakes that property owners make can help you take preventative action. Learn more here! - Published: 2019-12-11 - Modified: 2023-04-11 - URL: https://www.home365.co/general-knowledge/property-management/self-managing-dont-make-these-3-property-management-mistakes/ - Categories: Property management Whether you’re new to property management or already have several buildings, we’re all prone to making mistakes from time to time. Knowing the most common mistakes that property owners make can help you take preventative action and make owning income property as seamless as possible. Don’t fall victim to one of these common property management mistakes. Failure to Properly Screen Tenants To secure quality tenants, a rigorous screening process is necessary. Obtaining a credit history is important, but so is getting references from employers and previous landlords. Proof of ability to pay, through pay stubs or bank statements, is also essential. A thorough tenant screening can help minimize the risk of delinquency, but remember that you must use the same process for each prospective tenant commensurate with the Fair Housing Act. Not Having a Preferred List of Contractors No matter how well you take care of your property, a repair or other issue will inevitably arise. When it’s time to complete repairs, having a preferred list of contractors is convenient and will save you time on the vetting process. When you need emergency repairs, for example, you may be stuck with the first available company, who may charge high fees or do a less quality job. Having a list of professionals with which you are familiar will save you both time and money. Lacking a Consistent Schedule Experienced property owners know the value in being proactive in both tenant management and maintenance. If you want to avoid a crisis and ensure you have a steady cash flow from your properties, take steps to make a monthly schedule. Include which maintenance tasks you will complete that month and develop seamless processes for resolving tenant issues. This will save you money on costly repairs and keep your tenants happy. How Property Management Services Can Help The most experienced property owners realize the value in having a quality property management service. Home 365 helps streamline your property ownership and helps ensure steady cash flow. We use a thorough tenant screening process and help you find quality tenants that stay in your property for the long term. Our tenant management system allows tenants to report any issues with the property, and our preventive maintenance sensory system identifies issues before they can develop into costly problems. Home 365 takes the inconveniences out of property ownership and renting. For more information about our services, please contact us. --- > If the property you own is in a different city or state, you need the help of a property manager. Click here for more information - Published: 2019-11-27 - Modified: 2023-04-11 - URL: https://www.home365.co/general-knowledge/real-estate-investing/after-your-first-rental-property-purchase-3-tasks-to-complete/ - Categories: Real estate investing So, you have finally completed one of your financial goals: You bought your first income property and are preparing to rent your new investment out to tenants. There is one catch, however: the property you purchased is in another state. It is not uncommon for property owners to purchase buildings in other cities or states. It makes sense to purchase a property where the rental market is hot, which may not be in the same area where you live. Fortunately, owning property in different states is simple with the help of a property manager. Why Should I Use a Property Manager? Property managers take away all time-consuming aspects of owning an income property, so you can focus on your job, home, and other activities. Home 365 handles everything for you, from tenant screening to the creation and enforcement of leases. Our tech-driven tools, like our sensory system and app, make preventative maintenance and repair a breeze. Before you lease your property out to your first tenants, however, there are a few things that you should do to prepare it for rental. The best part? A property management company can handle all of these, too. Get a Professional Cleaning Company If you recently bought a property in another state, it’s possible you’ve never seen it in person. A safe bet for all new income properties is hiring a professional cleaning company to give it a full once-over. This will help address any potential cleanliness issues leftover from the previous owner. Make any Necessary Repairs During the inspection process, some general issues with the property may have come to light. Make sure to fix any lingering repair issues before renting out to a tenant. A property manager can help oversee the repairs, including the vetting and hiring of any specialists such as plumbers or electricians. Take Pictures and Videos of the Property Now that the unit is clean and repaired, it’s time to take pictures and videos that cast it in the best possible light. If the walls are not already neutral, consider painting them all one color before photographing the property. Remember that potential tenants appreciate little details like virtual walkthroughs, so a video can help increase the likelihood of landing a quality first tenant. A property owner can help you address any issues that a property has before securing tenancy. From screening to management, Home 365 handles it all. For more information about our property management services, please contact us. --- > Daniel Shaked Wins The Top Tech Award! Our Founder and CEO of Home 365 Daniel Shaked has won the Top Tech Award for Innovative Startup Tech. Read more - Published: 2019-11-23 - Modified: 2023-03-14 - URL: https://www.home365.co/general-knowledge/daniel-shaked-wins-the-top-tech-award/ - Categories: General Knowledge Our Founder and CEO of Home 365 Daniel Shaked has won the Top Tech Award for Innovative Startup Tech. The award instituted by VEGAS Inc. of the Las Vegas Sun and COX Business was presented to Daniel in a glittering ceremony held in Vegas on Thursday, Nov. 24. The award was collected by Ron Nir, General Manager Home365 Las Vegas on behalf of Daniel. Accepting the award Ron Nir said that "Daniel is a truly deserving candidate for this award as he has combined his passion for tech and real estate into a useful platform for streamlining single-family property management, a service that Las Vegas really needs" Shaked an avid techie enthusiastically supports other entrepreneurs too! Earlier this year, he participated as a judge and sponsor of Henderson’s Start Tank program, which allowed Shaked to give feedback and guidance to 25 entrepreneurs in Las Vegas. The competition saw more than 100 entrepreneurs in their respective fields attended this jubilant ceremony. To read more please click here --- > Tenant turnover can be a hassle. So Las Vegas Property Managers: Consider These 3 Lease Renewal Tips. Click here to get those tips - Published: 2019-11-20 - Modified: 2023-05-17 - URL: https://www.home365.co/growth-markets/las-vegas/las-vegas-property-managers-consider-these-3-lease-renewal-tips/ - Categories: Las Vegas Tenant turnover can be a hassle. Any property owner knows that screening for quality tenants is costly and having to repeat the process each year takes away from the profitability of your enterprise. Vacancies can take an even larger toll. Encouraging lease renewals is an essential aspect of your income property’s success. Fortunately, there are a few things you can do to encourage lease renewals, increasing the likelihood of securing long-term tenancy. Keep an Open and Honest Dialogue Some tenants will naturally be on the fence about lease renewals, whether it’s because of price or other factors. If you want to offer your unit at a fair market price – and that includes increasing rent to reflect demand – then you definitely should tread lightly. On one hand, your profitability is at stake, but, on the other, you want to retain your responsible tenants. If you do choose to increase rent at the end of the lease term, make sure it is reasonable (no more than 3-5%) and write it in a warmly worded letter. Avoid Auto Renewals In some cases, an auto-renewal kicks in and makes a lease month to month at the end of a rental term. This is not necessarily a bad thing, especially if you are not planning on changing your prices. However, it gives the tenant full control over when they want to vacate the premises, which could lead to scrambling to fill a vacancy on the slowest times of the year, such as November and December. Rather than making your lease at an auto-renewal, make a point to contact each tenant toward the end of each lease term to troubleshoot issues, renegotiate terms, and have them sign a brand new agreement outlining any changes in terms. Work With a Las Vegas Property Manager Renegotiating lease terms and working with tenants requires an experienced hand. If you are already juggling your job, home, and other responsibilities, the prospect of meeting with tenants and renegotiating leases can be daunting. Las Vegas property managers are ideal for taking over all aspects of renting out your investment properties, including tenant screening and renewals. At Home 365, we help keep your rental spaces filled with high-quality tenants. From screening to our proprietary management system, we take on all the time-consuming aspects of running a rental property, so you can focus on what’s most important to you. Learn more about our Las Vegas property management. --- > When showing rental property to potential tenants, Consider These 4 Inexpensive Bathroom Upgrades for Your Rental Property. Click for more info - Published: 2019-11-13 - Modified: 2023-09-29 - URL: https://www.home365.co/renovation-and-maintenance/consider-these-4-inexpensive-bathroom-upgrades-for-your-rental-property/ - Categories: Renovation and Maintenance, Renovation Ideas When showing rental property to potential tenants, there are generally two areas in which they are most interested: the kitchen and the bathrooms. Peeling paint, old fixtures, or aging cabinets may turn off tenants that could prove to be a long-term source of tenancy and income. Fortunately, there are a few simple things you can do to upgrade your rental bathrooms and make them more appealing to prospective renters.   Add a Fresh Coat of Paint In bathrooms, paint is especially vulnerable to peeling. Constant humidity from showers can lead to premature aging of walls and other surfaces. A fresh coat of paint can help immediately improve the appeal of your bathroom. To appeal to the most tenants, consider using an on-trend neutral, like grey or beige.   Add a New Vanity Does the bathroom vanity look like it has been there since the 80s or even longer? Updated, modern sink cabinets and vanities are relatively cost-effective and can quickly add to the appeal of your bathroom. Dark vanities naturally hide tenant wear and tear, so consider choosing a richer color like black, brown, or dark grey to protect your investment.   Add a Low Flush Toilet Low flush toilets are sleek and add to your bathroom appeal, but they also serve another important purpose: they can save you money on your water bills. A single low flush toilet can save hundreds on your annual water bills, and, if you have several units in a single building, your savings can really add up.   Re-Glaze the Bathtub In older homes, cast iron bathtubs can start to look dingy. A quick deglazing can revive their look without the expense of installing a new tub. For a gleaming new bathtub, choose a white shade, which will make it seem like a new installation without the cost you would incur from a new unit.   Why Should I Use a Property Manager? Undertaking new renovation tasks and maintaining your properties can be challenging, especially if you have another job and home to worry about. Property management services can take the guesswork out of owning income property. Home 365’s sensory system, which is installed throughout your property, can detect maintenance issues before they become major problems. With the help of Home 365, you can protect your investment and keep rental units appealing to prospective tenants for years to come. For more information about our property management services and the Home 365 sensory preventive system, please contact us. --- > Fall is officially upon us, which means cooler temperatures are on the way. Now is the perfect time to catch up on some maintenance tasks on your property. - Published: 2019-11-05 - Modified: 2023-04-11 - URL: https://www.home365.co/renovation-and-maintenance/dont-neglect-these-6-fall-maintenance-tasks-on-your-rental-property/ - Categories: Property Maintenance, Renovation and Maintenance Fall is officially upon us, which means cooler temperatures (and even some snow, depending on where you live) are on the way. With more temperate weather, now is the perfect time to catch up on some maintenance tasks on your property. To ensure your property’s longevity, make sure to complete these maintenance tasks each fall season. Clean Your Gutters Storms and falling leaves all fill up in your gutters and can affect the drainage around your property. Over time, this can lead to water damage around the exterior foundation. Regular gutter cleanings are an essential aspect of your fall maintenance, protecting your drainage systems from the winter precipitation ahead. Clean Your Yard Fall brings all manner of debris into your yard, from falling leaves to twigs, sticks, and other debris. Cleaning your yard during the fall will help ensure your lawn grows back lush and green again in the spring. Winterize Your Pipes A burst pipe in the middle of the winter can lead to unwelcome expenses and vacancies while completing plumbing repairs. Fortunately, taking a few simple steps to winterize your pipes before the cold season begins can effectively ward off any cold-weather plumbing issues. Store Outdoor Furniture Outdoor living spaces can be a major selling point for tenants. If you have your own outdoor furniture on your rental property, remember to cover and store it in a weather-proofed building to prolong its life and usefulness. Sun washed, rusted furniture does not market well to potential future tenants. Check All Weather-Stripping and Insulation Feeling the gusty winter air coming in through cracks in windows and doors is unpleasant for your tenants, but it also provides another concern: if you include the cost of utilities in your rent, you could be losing a lot of money through inefficiency. Weather-stripping provides a simple way to insulate your home against cold weather, so make sure to check it each year for peeling or cracking, and replace as necessary. Clean Chimneys and Fireplaces If you have a chimney or fireplace on your property, neglecting cleaning can pose a safety risk. A buildup of creosote can be deadly, so it’s essential to clean the chimney or fireplace at least once a year. Fall is the perfect time to do it before people start building their cozy winter fires. The Benefits of Having a Property Manager Fall brings with it a long list of maintenance tasks – when you own your property as an additional property stream, it can seem daunting to tackle these on top of your regular job and own home maintenance tasks. A property management company can take on all aspects of owning rental property, from collecting rent and screening tenants to maintaining the property and resolving potential issues. For more information about Home 365’s property management services, please contact us. --- > Our tips to identifying the right college students for a tenancy to assure full occupancy of your residences and protection of your property. Read more! - Published: 2019-10-22 - Modified: 2024-01-09 - URL: https://www.home365.co/growth-markets/las-vegas/4-facts-about-renting-to-college-students-in-las-vegas/ - Categories: Las Vegas College students provide a steady source of income for property owners. However, not all college students make appropriate tenants. Know how to identify the right college students for a tenancy to assure full occupancy of your residences and protection of your property. Market To The Demographic To find a quality candidate, make sure you have a wide variety of applicants to choose from. The right marketing tactics will get young students flooding through your doors. College students find most of their information online, so having a well-developed online presence and active social media pages is essential. Other marketing must-dos: include virtual tours and high-quality photos, syndicate your listings across several websites, and consider adding the cost of utilities to the rent for the less money-savvy demographic. Invest in a Quality Screening Process The right marketing techniques will pique a lot of interest in your rental units, so the next step is having a rigorous screening process that helps pick the best candidates. References from previous landlords and employers are a plus, as is requesting proof of being able to pay rent (through pay stubs or bank statements, for example). Require a Co-Signer Many college students have little to no credit history, which makes them a higher risk for renting. It can be difficult to predict who will reliably pay rent and who will pay late or skip months altogether if you don’t have a clear idea of their financial habits. A cosigner helps mitigate risk and adds an extra layer of security to improve confidence in your future tenant. Offer Online Services Younger demographics, like college students, crave convenience. They want to do as much as possible online, from applying for the residence to paying rent. Offering a suite of online services will help appeal to college students and ultimately save you time and money. Home 365’s tenant management system, for example, allows tenants to report any issues with their property via their app and ensures speedy conflict resolution. Home 365’s sensory system detects any potential maintenance issues, so our Las Vegas property management company can solve them before they become a problem. College students can provide a steady stream of revenue, but it may also require a little extra legwork to find quality candidates. Home 365 takes on all aspects of screening tenants and keeping your occupancy rates full. Our technology-driven suite of tools makes renting and owning property convenient. For more information about our services, please contact us. --- > Las Vegas is one of the best places in the country to own rental property. Here are 3 Reasons to Consider Purchasing a Las Vegas Fourplex - Published: 2019-10-15 - Modified: 2024-01-09 - URL: https://www.home365.co/growth-markets/las-vegas/3-reasons-to-consider-purchasing-a-las-vegas-fourplex/ - Categories: Las Vegas Las Vegas is one of the best places in the country to own rental property. The demand for rentals is always high, and property owners can enjoy a steady source of additional income from consistent tenancy. Single properties can be beneficial, but as a Las Vegas property owner, you stand to earn more from a Fourplex. What Is a Fourplex? A fourplex is a type of multifamily home. As the name implies, a fourplex has four units inside. The main benefit of a fourplex is that it is the largest multi-family apartment home that you can own while enjoying residential zoning. A building with 5 units or more must be zoned as commercial. Owning a fourplex has several distinct advantages. Why Consider a Las Vegas Fourplex? A fourplex in Las Vegas comes with several different benefits:Earn more income. On a practical level, you stand to earn more income from a fourplex than you can from a single-family residence. This will significantly amplify your revenue stream and make it easier for you to recoup your original investment. Enjoy better financing options. Since a fourplex is zoned as residential property, you have many more options when it comes to financing. Residential properties can have down payments as low as 0-10% and have longer amortization periods. Enjoy better financing options. Since a fourplex is zoned as residential property, you have many more options when it comes to financing. Residential properties can have down payments as low as 0-10% and have longer amortization periods. Las Vegas Property Management for Your FourplexA fourplex can provide a steady source of revenue. In Las Vegas, it is a great way to diversify your investment portfolio and increase the amount of money you can make off your building each month. The daily running of a multiplex has challenges, however. If you have a job and other responsibilities, running your own fourplex can seem inconvenient. A property manager can take on all aspects of running your rental property with an experienced hand. Home 365’s property management system can screen tenants and place you with quality rentals. We can also develop and execute lease contracts, handle repairs, and more. Our preventative sensory system, installed throughout your property, helps identify any needed repairs to the property and fixes them before they become major issues, protecting your investment. Contact us to learn more about our property management services. --- > Home365 shares the best ways to secure your Las Vegas, NV rental property. This way your tenants are safe and your property is secure. Learn more! - Published: 2019-09-30 - Modified: 2024-01-09 - URL: https://www.home365.co/growth-markets/las-vegas/5-simple-but-effective-ways-to-secure-your-vegas-rental-property/ - Categories: Las Vegas As a landlord, it’s easy to overlook the security measures in place at your investment property. After all, you’re not the one living there, so the idea of someone breaking in is likely far from your mind. But it shouldn’t be. You and your Vegas rental house management company are responsible for making sure your tenants are safe from intruders. Not to mention, added security measures increase the value of your rental and allow you to command a higher rent. And while investing in a rental property that’s located in a ‘crime-free zone’ would be ideal, it’s not realistic to think your property is safe from all crime. Because of this, we’re going to share with you the best ways to secure your Las Vegas, NV rental property. This way your tenants can rest assured their families are safe and you can rest easy knowing your property is secure. Top Ways to Safeguard Your Las Vegas, NV Rental Property 1. Secure the Main Entrances The only way your rental property is going to be burglarized is if an intruder can find a way inside. Because of this, it’s crucial you secure the main entrances into the property. Start by adding deadbolts to all entrance doors. Though a single deadbolt will do the trick, a double deadbolt works that much better. This is especially true if you have a window near an entrance. A double deadbolt will prevent a thief from breaking the window and reaching in to unlock the door. In addition, consider using only metal or solid wood doors on your rental property. Though not impossible to penetrate, you can bet an intruder will have a tough time kicking in a solid wood or metal door. And seeing as how 34% of burglars enter through the front door, this is a surefire strategy for helping thwart a break-in. Lastly, always re-key your property whenever an old tenant leaves. The last thing you want is for your new tenants to have a run-in with your old tenants because they entered the property using a key. In need of some extra entryway security measures? Check out these quick tips: Remind your tenants to always lock their windows and doors Install a garage door opener to prevent easy entrance Place motion sensor lights above all main entrances Install a smart doorbell so tenants can see who is at the door before answering Mount a camera in every entryway The more secure your rental property is from the outside, the more secure your tenants will be on the inside. 2. Install a Home Security System A home security system provides the most effective protection against a break-in. Not to mention, it’s often the most cost-effective way to secure your rental property. Here’s a breakdown of the most common types of security systems you can have installed: Basic Home Security System: this is the most affordable type of home security system. It detects unauthorized entry into the property. From there, it sounds an alarm to alert your tenants or their neighbors when an intrusion is taking place. Usually, the loud noise of the alarm is enough to scare off the intruder. Smart Lock Security Systems: this involves a keyless entry system. Rather than deal with locks and keys, a smart lock security system uses a keypad that requires a code to enter the property. Smart lock systems lock automatically, which is great for those times your tenants forget to lock the door. They’re also an affordable security system that won’t eat into your bottom line. Smart Security Sensors: smart home security systems go beyond sensors on entryways. For example, a smart security system detects broken glass, floods, smoke, and even carbon monoxide levels. These systems can alert you and your tenants anytime there’s a serious issue. The type of security system you put in place will depend on your needs and budget. But even something as simple as a keyless entry system makes a difference in securing your rental. 3. Expose Hiding Spots Someone trying to break into your rental property will try to hide during the act, so they don’t get caught. That’s why exposing the hiding spots around your property is so important. To start, install motion sensor lights around the entire property. This will light up unwelcome guests and hopefully deter them. Plus, it gives your tenants added light when going to and from their home at night. In addition, install automatic timers inside the property that turn on and off while your tenant is away. This gives the impression that someone is home and will prevent a home invasion. Lastly, explain to your tenants the link between yard maintenance and safety. Then, have them trim overgrown trees and bushes to free up space around the property that intruders can easily hide in. If your tenants aren’t responsible for yard maintenance, have a professional clean up every season. This will help protect your tenants and maintain your property’s curb appeal. 4. Screen Your Tenants You may not think that your tenants would contribute to a security issue. But trust us, without proper tenant screening, you risk placing a tenant with bad intentions, or at the very least, bad friends. You can prevent a lot of illegal activity and potential break-ins by screening all prospective tenants. This means running a credit check, verifying employment and income, and checking all references. But more than that, it means running a full background check. Doing this helps you identify tenants that may be a risk to others or your rental property. Of course, proper tenant screening won’t guarantee nothing bad happens. But it will help. 5. Create an Away-From-Home Plan for Tenants It’s a good idea to tell your tenants how to handle things when they plan to be away from the property for a few days or more. This is where an away-from-home plan comes in handy. Many times, people forget how vulnerable their empty homes and personal belongings become when they are away. But if you think back to the classic movie Home Alone, you know there are intruders just waiting for your tenants to leave so they can break-in. Here are some tips you can give your tenants for those times they’re going to be away: Store all valuables and important documents in a fire-proof safe Do not announce vacations on social media or post pictures during the time away Stop deliveries such as the newspaper and mail so it doesn’t pile up Arrange for a friend or family member to swing by the property to check on things Ensure all yard maintenance is handled before leaving Check on the security system and lights to make sure everything is on and working In the end, by helping your tenants protect their things, you're also protecting your investment. Final Thoughts Are you in need of Las Vegas property management? If so, now is the time to start looking for a Vegas rental house management company to help you with managing your rental property. At Home365 Property Management, we take a unique approach to property management. In fact, we make being a landlord more predictable, profitable, and hassle-free. For one flat monthly fee, we’ll conduct rigorous tenant screening, collect rent, and handle all maintenance and repair issues using our exclusive sensory technology. And that's just the start. We understand that finding the right property management company for your needs is tough. That’s why we strive to make things as easy and affordable as possible on all our property owners. To find out more about our unique, technology-driven solutions, contact us today and see how we can help. --- > If you want to keep pace with technology and remain competitive in the digital environment, keep the following marketing trends in mind. Read for more! - Published: 2019-09-24 - Modified: 2023-04-11 - URL: https://www.home365.co/general-knowledge/property-management/marketing-trends-changing-the-property-management-industry/ - Categories: Property management The digital revolution has disrupted nearly every industry, and real estate is no exception. Today, apartment marketing relies on user experience, and a prospective tenant may make a decision regarding a rental based on the quality of your website or social media presence. If you want to keep pace with technology and remain competitive in the digital environment, keep the following marketing trends in mind. Marketing Automation Is Simple, So Use It Automating social posts or adding pop-up forms are all simple ways to engage prospective tenants at the very beginning of the funnel. Automation makes converting potential leads simple, so why not use it? Social Profiles Matter Your social media presence is important, especially with tech-savvy generations, like Millennials and Gen Z. Your contact information should be clearly listed, and your social profiles should include helpful content that encourages prospective tenants to contact you. Voice Strategy Has Become Important With the introduction of digital assistance, voice technology has become more important than ever. Consider, for example, that your tenants could request maintenance simply by speaking into an Alexa-enabled feature. Voice strategy offers a convenience that could put you ahead of the competition. People Expect Chat Bots In the same vein, people also expect immediate assistance. Enabling a chat bot on your business website can help both tenants and prospects get answers to common questions and seek assistance regarding their rental. Visual Content is Powerful You know what they say about pictures and words – and the truth is, most people don’t want to read a 1000-word description about your rental. Show them what they could be living in with professional-grade photos and video walkthroughs. Posting them on your website and social channels can also help improve your SEO. People Expect It to Be Easy to Connect and Schedule a Tour Within Seconds So let them! Pop-up menus and CTA buttons, prominently displayed allow you to connect with potential clients and fill vacancies faster. Let your customers come to you. Offer an option to schedule a tour right on your home page. Consider enabling a CTA button on your social media pages, so tenants can connect with you, regardless of the platform they’re using. Keeping pace with technology is important for filling vacancies, but so is having a trustworthy property management company for rental property. A property manager can help you screen tenants, collect rents, and ensure that your property keeps up with all local safety codes and regulations. For more information on Home 365’s property management process and proprietary technology, please contact us. --- > In a crowded renter’s market like Las Vegas, it’s important to stand out and differentiate. Here are six things Las Vegas residents are looking for - Published: 2019-09-17 - Modified: 2023-04-11 - URL: https://www.home365.co/growth-markets/las-vegas/what-las-vegas-renters-say-about-their-preferred-design-choices/ - Categories: Las Vegas In a crowded renter’s market like Las Vegas, it’s important to stand out and differentiate. One of the simplest ways to appeal to prospective renters is to follow home design trends and give them what they want. According to local renters, here are six things Las Vegas residents are looking for in their next rental property. 1. Upgraded Appliances Gone are the days of white, smudged fridges and tired electric stovetops with black coils. Renters want energy-efficient appliances that will help them save money on utilities while looking modern. Think matte black or stainless steel appliances, which add a sophisticated edge while being easy to care for. Smart technology also adds convenience and utility. 2. Neutral Hues Pantone may have a new hot color every year, but the reality is that most prospective renters like timeless, neutral hued walls. You’re unlikely to appeal to the masses with statement colors, as those only make a good statement to a select few. Currently, renters favor neutral colors like light gray, ivory, bright whites, and beige walls with white trim to brighten the space and make it appear larger. 3. Kitchen Upgrades If you want to pick a place to spend money and experience a significant return on investment, start with the kitchen. Good appliances, upgraded fixtures, and an attractive backsplash can all help create allure to prospective renters. Giving cabinets a fresh coat of paint can help provide a more inviting appearance. 4. Curb Appeal People like to entertain, and they value first impressions. Prospective renters want to live in a place where they can impress friends and family from the second they pull up to the curb. Consider simple curb appeal, such as a freshly painted porch or doorway, window boxes, or a new mailbox. 5. Maximum Storage Space While image is important, so is utility. For many renters, having a place to store large items is essential, especially if there is no basement. Consider adding extra closet space or having a dedicated storage area for residents, especially for items like bikes. 6. Attractive Lighting A well-lit space will make your rentals seem both larger and more appealing. Swapping out decades-old fixtures with on-trend replacements requires minimal investment but will offer significant returns. A few simple upgrades, based on the needs of local residents, can help improve your rental appeal. No matter how you decorate your space, your dwellings will also benefit from rental property management. We at Home 365 offer technology-driven solutions that maximize the convenience of renting property in Las Vegas, so you can focus on what’s most important to you. To learn more about our process, contact us. --- > Artificial intelligence (AI) is here to stay and is catching up with the real estate industry. Learn how you can apply it to your business. Read for more! - Published: 2019-09-10 - Modified: 2023-04-11 - URL: https://www.home365.co/general-knowledge/how-ai-is-changing-the-real-estate-industry/ - Categories: General Knowledge Artificial intelligence (AI) has become ingrained into our daily lives, whether we realize it or not. Digital assistants such as Alexa and Siri provide us with directions, answer questions, and even predict our future. Now, AI is catching up with the real estate industry. Here’s how you can apply it to your business. AI Provides a Better Customer Experience Today’s consumers demand convenience and speed at every step, and property management is no exception. Artificial intelligence can help you provide better customer experience through the use of chatbots, digital assistance, and more. At a practical level, AI can help you eliminate menial or repetitive tasks so your employees can dedicate all their focus to customer service. AI applications can also integrate with your property management software, so conversations you have with tenants translate to automated tasks. This saves time and creates a standardised process that virtually eliminates human error. AI Streamlines Leasing When you want to convert leads into leases, AI gives you a competitive edge. The Zillow 2018 Housing Trends Report notes that nearly three-quarters of renters expect to hear back from a property manager within 24 hours. By integrating AI, such as chatbots, into your website, you can provide accurate information in a timely manner, increasing tenant satisfaction and improving your conversion rate following prospective tenant inquiry. AI Provides Precise Data Technology provides plenty of data on customers, and you can act on it to convert leads. Modern AI makes it easy for you to collect accurate data on your consumers so you can glean actionable insights. This means your business decisions are based on data, not hunches. For example, AI allows you to accurately track your leasing performance (your number of leads, conversions, walk-throughs, signings, etc. ), so you know which properties are performing at their best. Knowing that information could influence future buying decisions. AI helps you purchase other investment properties with a minimal amount of risk, since you know how the area performs as a whole. On a smaller level, AI helps you understand the ROI of your marketing dollars and which channels are leading to the most conversions. Artificial intelligence is here to stay, and it will only grow in prominence as the technology becomes more widespread. In property management, you can leverage AI to improve customer service, streamline your business practice, improve efficiency, and even make buying decisions. AI helps eliminate human error, but best of all it allows your human employees to focus on what they do best – provide superior customer service. Home 365 offers technology-driven property management solutions to a wide range of clients. To learn more about what makes us different, contact us. --- > Las Vegas has a lot of safety codes and regulations so when looking for a property manager, keep the following 5 questions in mind. - Published: 2019-09-04 - Modified: 2023-09-29 - URL: https://www.home365.co/growth-markets/las-vegas/5-questions-to-ask-your-property-manager-in-las-vegas/ - Categories: Las Vegas Whether you own one or several properties in the Las Vegas area or anywhere else you may benefit from rental property management. Las Vegas has a lot of safety codes and regulations to follow, and a manager can help you navigate the most complex aspects of renting out your property. When looking for a prospective property manager, keep the following five questions in mind.   1. How Many Properties Do You Manage in the Area? This helps you understand their relative size and level of experience. If a property manager only has a handful of clients, for example, it could be an indication that they’re not experienced enough to deliver boutique-level service and respond to issues promptly.   2. How Often Would You Provide Me with Updates About My Property? It’s your income property, and you should be able to receive updates as often as you need them. Your property manager should cater to your needs and answer your questions as soon as possible.   3. What Kinds of Technology Do You Use? A good property manager should leverage the latest technology in order to streamline efficiency and keep your property operating at its best. This could be something as simple as offering online payment to using technology to detect possible issues within your dwelling to facilitate immediate repair.   4. How Long Have You Been in Business? The reality is that a company that has only been around for a few years might not have the experience to handle the trickiest aspects of managing a property, such as taking steps to avoid legal issues with tenants. Look for someone who has been in the business for a long time and has seen their fair share of situations that require problem-solving.   5. What Is Your Average Vacancy Rate? Simply, this can tell you how adept your prospective property management company will be at filling any vacancies in your properties. If they cannot reliably fill apartments or houses, it might be an indication that there is something wrong with their process.   Property Management Companies in Las Vegas Las Vegas is home to a booming real estate market, which translates to a lot of property management companies. Not all are equal in experience and efficiency, however. Home 365 sets itself apart by offering streamlined rental solutions driven by technology.   With a rigorous screening process, proprietary formula for determining your rate and inclusive service, you can rest assured that your property is always in good hands. Complete transparency and 24/7 access to your property dashboard ensure that you always know what’s going on with your investment.   To learn more about Home 365’s property management services in Las Vegas, please contact us. --- > Multi-family units can be a great way to generate extra income because you’re renting out units to multiple families at once. Click here for more info - Published: 2019-08-21 - Modified: 2023-09-29 - URL: https://www.home365.co/renovation-and-maintenance/5-upgrades-to-get-your-multi-family-units-noticed/ - Categories: Renovation and Maintenance, Renovation Ideas Multi-family units can be a great way to generate extra income because you’re renting out units to multiple families at once. At the same time, they can also have higher rates of tenant turnover, which means you’re scrambling to fill them more often. What if there were simple ways to attract new families to your multi-family unit, and keep them there longer? You can accomplish both with a few simple updates; consider the following five.   1. Add Eco-Friendly Updates Technology makes it easier to go green—at least for the property owner. Eco-friendly updates can keep utility costs down, which is a boon for prospective renters. Steps as simple as swapping out lightbulbs for energy-efficient LEDs, adding composting centers, and electric charging spots for vehicles can help you stand out from the crowd. Tenants will be drawn to the amenities you can provide and may be more likely to stay.   2. Consider Adding a Space for Package Delivery With retail giants like Amazon offering same-day delivery and competitors scrambling to keep up the pace, most people receive frequent deliveries, especially in large urban markets like Las Vegas. Adding a secure, dedicated package delivery area accessible only to tenants is simple, but it’s also a large perk. People no longer have to worry about their personal items being stolen while they’re at work, which is a simple convenience that makes your multi-family unit more appealing.   3. Revamp the Parking Lot Is your parking lot crumbling or in need of repairs? Try using it as an opportunity to downsize. It sounds paradoxical, but in the age of commodity sharing people are requesting their own parking spaces less and less. Instead of adding extra parking spaces, try using some of that space to create common areas that prospective tenants will enjoy.   4. Add an Irresistible Common Area Speaking of common areas, a dedicated space for your residents to unwind and relax after a long day can help set you apart. Consider a pavilion for picnics, an outdoor gym, or even a small contained dog park.   5. Design a Wellness Space Today’s generations have a healthy respect for self-care. Cater to it by designing a wellness space for your tenants. Possibilities include a common breakfast bar, yoga room, walking path, or even a spa, which could generate more revenue for you as an added bonus.   Designing today’s multi-family units is more than simply filling spaces. It’s about creating an experience or a destination. By making some simple upgrades, you can increase your chances of establishing long-term tenancy.   No matter how you design your multi-family units, you will benefit from residential property management. Las Vegas-based company Home 365 can help you with the most challenging aspects of ownership, so you can reap the rewards. Contact us to learn more about our technology driven process. --- > Are you looking for the best place to invest in rental property? Read our list of some of the hottest markets in the US for incoming-generating properties. - Published: 2019-08-14 - Modified: 2023-04-11 - URL: https://www.home365.co/general-knowledge/real-estate-investing/4-best-places-to-buy-rental-properties/ - Categories: Real estate investing Are you looking for the best place to invest in rental property? There is always an element of risk involved when it comes to purchasing income property. Minimizing risk as much as possible by investing in lucrative markets can help you make the most of your investment. Here are some of the hottest markets in the United States for the purchase of income-generating property. Las Vegas Las Vegas is about more than just gambling and partying – it’s home to a booming economy and large hospitality employers. Hospitality is the largest employer in the city, followed by the Clark County School District. Purchasing property in Las Vegas can mean quality, long-term tenancy in an area that receives little rain (read: less water damage) and enjoys a favorable climate. Since the rental market in Las Vegas has many regulations, seeking help from a Las Vegas property manager can help maximize convenience and ensure that your rental stays compliant with local codes. Los Angeles The city of Angels is, and always will be, home to a booming housing market. Landowners can make a considerable profit while offering homes at a competitive rate. People are drawn to the city for its celebrity allure, desirable weather, and array of cultural amenities. While turnover in the city can be high, a property manager can help screen tenants and assure long-term tenancy. Orlando The Southeastern United States is hot, and more than just literally. The Southeast region is experiencing economic growth, which is driving prospective tenants to the region. Close proximity to Disneyworld and Universal Studios also makes it a good time to purchase property for short-term rental. Houston Houston, is booming thanks to its tax structure. Large companies, seeking relief from high tax burdens in states like California, are moving eastward where they can be less regulated. This is moving jobs and potential tenants to markets like Houston, which is known for its hot summers and mild winters. With lots to do for professionals and families alike, expect long-term tenancies and a significant return on investment. No matter where you purchase a rental property, a good property manager will handle the complex aspects of ownership for you. Using proprietary technology, Home 365 connects you with high-quality tenants using a rigorous screening process. Our sensors also monitor the property for potential issues and resolve them before they become costly to fix. Peace of mind, flexibility, and convenience are benefits of using a property manager. For more information on Home 365’s property management services, please contact us. --- > Here are a few things to know about Gen Z as they begin filling out applications for rentals. Click here for info on how to attract them as renters - Published: 2019-08-07 - Modified: 2023-04-11 - URL: https://www.home365.co/general-knowledge/what-you-should-know-about-generation-z-renters/ - Categories: General Knowledge Millennials may currently make up the largest percentage of the workforce and command the lion’s share of buying power in the United States, but the Gen Z cohort is close on their heels. This generation, the oldest of which are approaching their mid twenties, are much different than their predecessors. Here are a few things to know about them as they come of age and begin filling out applications for rentals. They’re More Frugal The people of Gen Z were not in the workforce when the Great Recession hit, but they watched their parents struggle to make ends meet. As such, they tend to be more frugal than some of the older generations. If you want to attract Gen Z renters, expect them to fill out applications at lower price points and make sure your rates are competitive for your target area. They’re Tech Savvy As digital natives, Gen Z grew up in a world powered by technology, so they expect their homes to keep pace. They won’t tolerate things like slow Wi-Fi networks or clunky websites. Appeal to their sensibilities by offering property rental information online including video tours, pricing information, pictures, and online applications. Must make sure that your property rental website is optimized for mobile viewing. They’re Entrepreneurs Gen Z is composed of a creative bunch that thrives on the capitalistic spirit. Nearly 75% of current high school seniors say they want to own their own businesses someday or turn their hobbies into careers. This means their living spaces should work as home offices, too. Properties with separate dens or dedicated offices can help them achieve their goals. They Value Individuality – And Think You Should, Too There is nothing cookie cutter about this generation. They scoff at McMansions and want everything to be personalized. Including a questionnaire on the website allows them to explore what they’re looking for will help you appeal to this group. Also consider investing in homes with character, as this generation is more interested in renting a house through a property management company than filling cookie-cutter complexes. Gen Z is young, but it won’t be long until they make up the majority of your renting population. As they come of age and start filling out applications, it’s helpful to know how you can simplify the process and appeal to their sensibilities. The question here is are you ready for the Zen G, cos we are ready! No matter where you rent or who you rent to, a property manager can help you by screening tenants, collecting rent, and ensuring your properties function well. To learn more about Home 365’s technology-driven property management services, contact us today! --- > In Las Vegas, property management can have several benefits Click here to learn why you need property management services in Las Vegas. - Published: 2019-08-02 - Modified: 2023-04-11 - URL: https://www.home365.co/growth-markets/las-vegas/what-are-the-benefits-of-a-property-manager-in-las-vegas/ - Categories: Las Vegas Real estate can be a great investment, but it can also bring its fair share of headaches. In Las Vegas real estate market, property management can have several benefits that translate to more long-term tenants and even better revenue. Learn why you need property management services in Las Vegas. What Are the Benefits of a Property Manager? Navigating the Las Vegas rental market can be volatile, due to its desirability and tenants looking for both long term and short-term rentals. Having a property manager to tend to your rentals has several benefits. 1. Fewer Legal Problems A single tenant can be the source of serious legal and financial trouble. A property manager offers the tools and knowledge to limit the amount of legal issues you may encounter, based on tenants and property condition. Property management can help reduce liability by: Screening for high-quality tenants Assuring property conditions and safety Evicting tenants following applicable laws and local statutes Inspecting units before and after lease terms Providing rent and security deposit collection Handling lease signing and termination A dedicated property manager can help reduce your risk of legal trouble by assuring that your lease and property follow all applicable rules and regulations. Even one avoided lawsuit translates into money saved. 2. Long-Term Tenants A property manager increases the likelihood of having long-term tenants, which saves money on background and credit checks and eliminates the stress of continually finding new people to lease the property. A property manager that implements a rigorous screening process will effectively avoid tenants who may only be looking for something short term or may be less likely to pay their rent on time. 3. Lower Maintenance and Repair Costs Property management technology can help keep your repair and maintenance costs low. Home 365 uses sensory technology to identify home and maintenance issues and resolve them before they become major problems. Any homeowner knows that addressing an issue quickly translates to significant savings. 4. Simple Rent Collection A property manager takes over the menial job of collecting rent, including addressing non-payment by residents. Property managers can simplify the process and make it easier for tenants to make payments and for landlords to get paid. 5. Fewer Vacancies Property managers can help you continually find high-quality tenants that are more likely to pay and more likely to stay. When you do have a vacancy, having a property manager list and screen tenants can remove stress. Las Vegas property management services can help you save money and time by taking over the hardest aspects of property ownership. For more information of Home 365’s Property Management services, contact us. --- > Understanding your rights and responsibilities regarding repairs can help you avoid potential legal hassles and save money down the road. Click for info - Published: 2019-07-31 - Modified: 2023-09-29 - URL: https://www.home365.co/renovation-and-maintenance/what-are-the-landlords-responsibilities-for-repairs/ - Categories: Property Maintenance, Renovation and Maintenance One of the realities of homeownership is that all homes require repairs eventually. When you rent out a property, you may wonder what your responsibilities as a landlord are regarding repairs. Understanding your rights and responsibilities regarding repairs can help you avoid potential legal hassles and save money down the road.   What Are the Landlord’s Responsibilities for Repairs? A shifting foundation is one thing, but what about a leaking faucet? How can landlords determine how far their responsibility extends? Landlords owe tenants a “warrant of habitability. ” A property is generally habitable when it has adequate water, heat, electricity, cleanliness, and is structurally sound. However, it is also important to remember that local codes can vary, so what may hold true in one city may not in another.   Local codes generally include keeping smoke alarms and carbon monoxide detectors fully functioning, keeping common areas safe, and ensuring that all aspects of the property keep up to local safety codes.   Systems deemed important to establishing habitability, such as water and heating, require immediate repair when a tenant reports them malfunctioning. Generally, it’s best to start repairs within 24 hours, though the laws vary based on municipality.   Do Property Managers Pay for Repairs? It is a landlord’s responsibility to make the necessary repairs to keep a dwelling habitable. If a tenant reports a problem, addressing it as soon as possible is the best way to avoid liability and keep in accordance with local law.   A property manager can help you by identifying issues before they occur. A preventive maintenance program can help save you time and money. In the event that a property issue occurs, a property manager can hire a repair person and restore the property to its previous condition as soon as possible.   A common question we hear is, “Do property managers pay for repairs? ” It depends. Home 365’s OneRate covers your routine repairs, preventative maintenance, and emergency services. Quality property management can help eliminate the hassles of repairs and keep you in compliance with local codes.   Property managers make being a landlord convenient; they allow you both flexibility and convenience. Home 365’s sensory technology identifies potential problems and recommends preventive maintenance to keep your rentals in top shape. When a dwelling requires repairs, Home 365 relies on its network of experienced professionals to address the issue quickly.   To learn more about how Home 365 can help you handle repairs and keep your properties in quality shape for tenants, please contact us. today! --- > If you want to attract families as tenants, follow these tips to make the property more attractive to them. Click here for more information - Published: 2019-07-24 - Modified: 2023-09-29 - URL: https://www.home365.co/general-knowledge/how-to-make-your-rental-property-more-family-friendly/ - Categories: General Knowledge Most landlords tend to avoid having entire families as tenants, since children often present a risk to the safety and integrity of the building. However, other property owners value the stability that families, particularly newer ones, bring in terms of retention, payment, and other factors. This motivates them to avoid turning away prospective tenants with children. If you want to attract these types of tenants to your rental property, follow these tips to make the property more attractive to families.   The School Factor If you are still choosing the property you are investing in, keep schools near the area in mind. Most families are willing to move to any type of property if it means they are at a reasonable distance to schools, or if there are schools in the district area. Also, make sure your property is near a reputable, high-quality institution to increase the pool of families you might attract to your rental units. If your building is already near these schools, make sure to mention it in your listings and advertisements.   Entertainment for Children Organizing entertainment and community activities that appeal to children not only invite families with little ones, but it also provide a great opportunity for parents and guardians to interact and socialize with other adults in the area, since happy hours and other adult-oriented events are usually not an option for most parents. Plus, these fun events will boost your image as a family-friendly landlord. Organize events like decoration contests, seasonal carnivals, movie nights, and more to provide entertainment and socialization that everyone can enjoy.   Importance of Backyards Particularly during the summer, backyards in single-unit properties provide a lot of appeal to both children and adults. The children will play around the yard and take advantage of the sun and overall pleasant weather, while the adults will enjoy a nice patio or fire pit to relax on summer evenings. Install these features to bring in families who appreciate spending time outdoors and make sure that any old or broken equipment is replaced as soon as possible. Also, invest on lawncare and basic landscape for the yard to make it look nice and organized just in time for showings.   The Safety of the Property While providing entertainment, amenities, and even access to a great education are all good, you should also ensure that the property is perfectly safe for both adults and their young children. Place yourself in the shoes of a young parent and look for any potential defects and hazards that can place children in danger. Loose or broken features such as old balconies and railings, as well as loose wiring, can place children in danger. There are also other dangers to consider, like lead paint and sharp corners. Keep in mind that maintaining child safety involves more details than adult safety.   Do plenty of property management tasks keeping you busy from figuring out methods to make your rental units family-friendly? Home365 streamlines several property management tasks and services so you can tend to other priorities. Contact us today so you can get a free quote for your property.   --- > Being a first-time landlord can be an intimidating experience. You can spare yourself from a variety of unpleasant surprises. Here are 4 tips to follow - Published: 2019-07-10 - Modified: 2023-03-14 - URL: https://www.home365.co/general-knowledge/4-basics-that-new-landlords-should-know/ - Categories: General Knowledge Being a first-time landlord can be an intimidating experience. This is mainly due to how many factors and considerations you must make when entering the property management and/or the property ownership field, some of which include rent collection and consistent maintenance of the property. You can spare yourself from a variety of unpleasant surprises by educating yourself about this occupation. These tips can help you make your transition to this field into a smooth one.   Prioritize Rent Collection Perhaps the most important thing you should know as a new landlord is to prioritize timely, completely rent payments above all else. Rent is your main source of revenue, and just like any employee in any profession, you should be fairly compensated for your work. Rent collection is also necessary to afford the maintenance of the building and other services. Be willing to work with a tenant who communicates, but otherwise, you should be strict when it comes to collecting rent. Several factors depend on it.   Know Fair Housing Laws Another important bit of advice for newcomer tenants is to maintain accurate knowledge of Fair Housing Laws, which protect specific tenants from discriminatory guidelines. Certain laws vary by state, but there are also some federal protection laws that apply across the nation. Violating these laws, even by accident, can place you in legal trouble and cost you money and reputation. Even an action in a lease is not protected if a judge finds that the action violated these laws. Take the time to study Fair Housing Laws, both federal and state-specific, and consult with a lawyer knowledgeable in landlord-tenant law to ensure that you stay compliant to anti-discriminatory laws.   Screen All Future Tenants The eviction and replacement of a tenant is a process that consumes too much time and money. You can mitigate this inconvenience by setting up a strict and detailed screening process for all prospective tenants. Even if this function is handled by your property manager instead, you should still make sure that the potential tenants meet all these requirements. Some of the important factors in a questionnaire or screen process include credit records, employment history, criminal background, financial information, and references from other landlords. Make sure you set up and hold consistent standards to avoid unintentionally discriminating against a candidate.   Keep Records for Everything A good rule of thumb as you start operating as a landlord is to keep records of nearly everything you do in this position, such as rental applications, maintenance requests, contracts with tenants or vendors, leases, documents relevant to taxes, and several others. Keeping these documents organized can assist you whenever that information is required in the future, such as tenant disputes or tax payments. Everything you do should have a paper trail, both for organizational reasons and to protect yourself legally. Make this process easier by going paperless. Property management programs can help you digitize these documents for easier storage and access.   An efficient, high-tech property management system can make this job easier than before. Contact Home365 today to learn more about how you can make the renting process less painful and more rewarding. --- > Summer is one of the best times to rent a house or an apartment. Take advantages of this peak time and prepare your properties with the following tips. - Published: 2019-07-03 - Modified: 2023-09-29 - URL: https://www.home365.co/renovation-and-maintenance/prepare-your-rental-properties-for-the-summer/ - Categories: Property Maintenance, Renovation and Maintenance Summer is one of the best times to rent a house or an apartment. During this time, families are enjoying the summer break and renting a vacation home, fresh college graduates are looking for a new place to spend in after moving out of the dorms or campus apartments, and some people simply find the summer weather more appealing or convenient for the moving process. Take advantages of this peak time by making sure the rental units are ready for the summer. Prepare your properties for the summer with the following tips. Inspect and Maintain Air Conditioner Perhaps the most important feature of your rental properties this summer is your air conditioner system. Everyone will have to deal with uncomfortable high temperatures and will greatly value a reliable A/C system. Stay proactive by calling for preventative maintenance on your A/C as soon as possible. This will ensure the system is ready to work for the summer, and if there are any issues going on, fix them before they escalate, leading to more expensive and time-consuming repairs. While you’re at it, ensure water and electricity are functioning well. Maintain Your Windows and Doors Just as important as fixing your air conditioner and other utilities is ensuring that the windows and doors are fixed or replaced. Windows and doors are some of the most noticeable features in the rental unit, so ensure they look great to create a strong impression on tenants by either fixing them or replacing them with new models. More importantly, they should have the ability to seal the inner temperature in the building and not let any warm outdoor air in. Call for maintenance to inspect for leaks and gaps and schedule for caulking or weather stripping. Prioritize Outdoor Amenities The summertime encourages tenants to stay out longer and take advantage of the weather to perform outdoor activities. If you have outdoor amenities, such as a pool, grills, and more, encourage the tenants to take advantage of them during the season via a handy correspondence. Also, remind them about rules regarding these amenities, quiet hours, guest visits, and more. Most importantly, invest on the maintenance of these outdoor amenities, especially the pool, since your tenants will use them often, and you want to ensure they function well and are safe to use. Adapt Your Marketing Efforts When placing your properties for listings, advertisement, and show staging, make sure to take the season into consideration. If you have a vacant single-unit rental, specifically, focus on landscaping and creating an appealing patio and outdoor area that will appeal to people that are moving in during the summer, and will likely use these features immediately. Make sure everything outside the building is also clean and spruced up. For vacant unit showings, think of the details and prepare lemonade and cookies for the potential tenants. In your marketing efforts, also highlight your outdoor amenities, such as the BBQ grills and pool, and use a fun summer theme with it. Make several of these property management tasks for the summer much easier on yourself by considering Home365’s efficient, affordable, and all-inclusive property management services. Check out our website today to learn more about the advantages we offer. --- > 4 Ways To Improve the Security of Your Rental Property - Investing in advanced security systems maintains the safety of the property. Click for more info - Published: 2019-06-11 - Modified: 2023-04-11 - URL: https://www.home365.co/renovation-and-maintenance/4-ways-to-improve-the-security-of-your-rental-property/ - Categories: Renovation and Maintenance, Renovation Ideas One of the biggest priorities you will have as a landlord is protecting your tenants and your property from possible intrusion, theft, vandalism, and other types of crimes. Investing in advanced security systems maintains the safety of the property and the people occupying said property and shows that you are concerned for the protection of both. Consider the following security solutions for your rental property. Security Cameras Perhaps the most common and well-known security measure for any building, security cameras are an effective way to detect suspicious activities and potential crimes taking place around the building. As a landlord, you have the right to install these cameras in your apartment complex or multifamily property, particularly by the front door, the back door, hallways, stairways, and other common and lounge areas. The only places you cannot install these cameras at all are inside the tenants’ living quarters, and any non-tenant bathrooms, as these would violate the privacy of the occupants. Proper Lighting Lighting is one of the least expensive security solutions you can apply, yet it is also probably one of the most efficient. If you operate an apartment complex, then provide proper lighting to entrances, stairways, and hallways, as it helps the tenants stay safe and know where they are going. Replace any burnt out lights whenever possible. If you own a rental house or single-unit property, lights can also keep intruders away if they are light often and dynamically enough to simulate people being inside the house. Newer automation and motion activation technology allows you greater control over the property’s lighting through mobile phone apps or from any gadget with a connection to the system. Alarm Systems An alarm system is a reliable way to keep intruders away from the property. It creates a noise powerful enough to wake up all nearby tenants and scare any criminals away from the location. Whether you choose a wired or wireless system, it always adds value to your property. In fact, you can even put this feature in the lease contract and charge the tenants more for the rent to afford the monthly subscription. At the same time, let the tenants know how to avoid false alarms with the system to prevent a potential waste of time and money. Sensory Systems Particularly ideal for rental homes and single-unit properties, sensory systems and motion sensors detect any inappropriate or unexpected movement, likely from a burglar or intruder, and provide the right warning system to the tenants. Just practice caution when using these systems. Some of these systems are unable to tell the difference between movement made by a criminal or by a pet. If you own a property that allows pets, ensure you buy pet-proof sensors to avoid costly and annoying false alarms. Sensory systems are not just useful to increase the security of the building, but for other functions as well. Home365 offers a preventative sensory system as part of the property management services. This system is installed throughout the property to specifically detect maintenance issues before they become major problems. Contact us today to learn more about this service and several more. --- > Before you make a final decision on a particular property, consider the following factors to make an educated decision. Click for more info - Published: 2019-06-04 - Modified: 2023-03-14 - URL: https://www.home365.co/general-knowledge/real-estate-investing/4-things-to-consider-when-investing-in-multifamily-properties/ - Categories: Real estate investing Making the decision to enter the property rental field means you will have to consider several factors before investing in a specific location, particularly if you are renting out a multifamily property. Even if you are investing in a small multifamily building, there are some factors to consider that are usually not present in a single-family property investment. Before you make a final decision on a particular property, consider the following factors to make an educated decision.   Location of the Property Perhaps the most important factor to look out for when renting a multiunit property is the location. While renting out a single-unit will place your concern over what one family or individual thinks of the location, you must ensure that multiple tenants enjoy the location where the property is. Research the potential neighbourhood before the property itself, and look for crime rates, amenities, school ratings, public transportation, and more. These factors can influence your decision on where you want to invest and where the tenants would like to stay.   Number of Units Another factor to consider when choosing a multifamily rental property is just how many units you will have to assume responsibility for. On one hand, the more units you have, the more the cash flow increases and the faster you can grow your real estate portfolio. One the other hand, this also means you have more units to provide maintenance for and more tenants to look out for. If you are a beginner investor try to stick between two and four units, as they provide more profit with lesser risk.   Different Costs Depending on how many units and tenants you take in, as well as specific features each complex has, your costs will vary. Consider the maintenance costs for each unit and how they can add up. Also, the units will not stay occupied forever, and sooner or later, someone will move out, which will decrease your income. Make sure you have a back-up plan in case of an unexpected vacancy, particularly for an extended tenant turnover period. Finally, consider the financing of this property. Lenders for multifamily rentals will often look at your credit score, down payment, and debt-to-income ratio, so have these matters in order.   The Property Seller Before closing a deal, you should investigate the seller of the rental property. The overall cost of the property will greatly depend on who is selling you the building, as well as their motivation. A property owned by a bank is handled different than a property owned by an individual, for example. The former may offer you additional savings that the latter cannot, for example. In addition, ensure that you are purchasing this property from a reputable owner or institution.   No matter the size of the multifamily rental property, it will have several aspects and factors to manage and oversee, so in comparison to a single-unit property, it might feel like less of hobby and more a full-fledged business. Home365 will provide you with the property management service you will need to run such business efficiently. Visit our website today and learn more about our services. --- > Most landlords usually have some sort of landlord insurance set up to protect a rental unit. Learn more about how vacancy insurance can benefit you. - Published: 2019-05-29 - Modified: 2023-04-11 - URL: https://www.home365.co/general-knowledge/why-vacancy-insurance-is-an-asset-to-have/ - Categories: General Knowledge Most landlords such as yourself usually have some sort of landlord insurance set up to protect a rental unit or property from certain damages or conditions. However, when the unit is vacated by the last tenant and you are left to try to fill the vacancy, you might need a different type of insurance to cover the unoccupied property. A vacancy insurance can help you effectively cover properties such as rental and vacation houses. Learn more about how vacancy insurance can benefit you. Advantages of Vacancy Insurance Even though most property owners use landlord insurance, which essentially functions as the equivalent of home owner’s insurance for rental properties, it has certain limits the moment the property is vacated, particularly for houses and single-unit properties. Vacancy insurance coverage provides some advantages. · Affordability. While landlord insurance can usually provide full-blown coverage when the property is occupied, it has its limitations once it becomes vacant. Vacancy insurance provides protection not covered or denied by landlord insurance, and it does so at a more affordable price, making it a great investment. · Coverage for Crimes. Once your rental home is vacant, it is more vulnerable to certain risk factors, such as break-ins, vandalism, and other mischief. Vacancy insurance covers all these scenarios. In addition, if an intruder is injured while in the property, you might be held liable for the injury. Vacancy insurance also grants you protection for this scenario. · Coverage for Greater Risks. Because your home will have no tenants in it, it might run a greater risk with other conditions and disasters that could be mitigated with the presence of tenants, such as fires, natural disasters, and other hazards. While considered too risky for other insurance plans, these risks are covered by vacancy insurance. Flexibility Between Coverages Perhaps the best part about vacancy insurance is that you do not necessarily have to choose between a landlord insurance and a vacancy plan. Depending on how flexible your insurance plan is, if you find a tenant for the rental unit, it can switch to a landlord insurance. The opposite is true if the rental home is left unoccupied. If you have a flexible insurance program, you can enjoy the best of both worlds and fully protect your investment, no matter the occupancy status. Are you considering getting vacancy insurance for your unoccupied rental properties? Home365’s OneRate Pricing plan, which provides full coverage for property-specific management services at one flat rate, includes vacancy insurance. Contact us today to learn more about this offer. --- > When entering the field of real estate investments, one of the first choices you might have is if to invest in a single or multifamily rental property. - Published: 2019-05-21 - Modified: 2023-03-14 - URL: https://www.home365.co/general-knowledge/real-estate-investing/choosing-between-single-and-multifamily-investments/ - Categories: Real estate investing Are you entering the field of real estate investments and property rentals? Then one of the first choices you might have to make is whether to invest in and take charge of single or multifamily rental properties. Investing in and renting out these properties have their own specific benefits when it comes to certain factors, such as income, management style, and others. These benefits can help you depending on your own specific goals and needs. Learn about the advantages each option has in order to make the right choice for you. Advantages of Single-Family Properties A single-family property is usually designed so a single owner and his or her respective family can occupy it. As a result, it is usually a single, free-standing unit with no other living units attached to it, and usually includes a yard and a garage. Most of the time, it is a traditional residence. These rentals have some of their advantages over multifamily buildings. Affordability: Single-family units are easier to finance than multifamily ones, particularly for first-time investors. Real estate prices are generally lower, as well as insurance rates. Mortgage lenders provide more financing opportunities, and you may even have to pay only 10-15% for the down payment. Easier to Manage: Management and the costs associated with it are easier to handle in a single unit. There is less property to cover, so you can either handle management yourself or hire a property manager. You can also have the tenant to take care of most maintenance, which reduces the costs and responsibilities. Resale Opportunity. Single-family units are easier to sell due to the lower expenses and barrier to entry. You also have a greater client pool between other investors and traditional homeowners. Advantages of Multifamily Properties Multifamily rental properties are complexes that have two or more living units under a single roof. These properties include duplexes, condos, and townhouses. While there are more units to manage, there are also some exclusive advantages to these properties. Greater Income: Having multiple tenants in a single property building means you have a larger source of income for a single investment. This income will make it easier to afford for maintenance and keep the additional profit. Also, living in a multifamily property can also increase your passive income. Lesser Vacancy Impact: If your single-family property is vacant, you will immediately lose that income source. However, a vacancy in a multifamily property means that you only lose a fraction of that income. You will still have a consistent cash flow while you wait for a new tenant. Faster Scalability: If you desire to grow your real estate portfolio more efficiently, then multifamily properties are the solution. Instead of investing in several, separate units, you can save time and expense by obtaining multiple units with a single investment. Whether you choose to invest in a single or a small multifamily rental property, there are always property management systems such as Home365 that can help you manage every aspect and task. Visit Home365 today to learn more about the services we can provide you and get a free quote! --- > The growing number of conveniences found in technological advancements have improved rental property management. Click here for more info - Published: 2019-05-06 - Modified: 2023-04-11 - URL: https://www.home365.co/general-knowledge/4-ways-technology-is-changing-property-management/ - Categories: General Knowledge The growing number of conveniences found in technological advancements have improved all professions and tasks, which also includes rental property management. Specialized software, mobile apps, and other technological innovations have streamlined the process and have made it easier for landlords to perform their duties without setting a foot inside the rental building. Continue reading to learn more about some of the ways that technology has changed property management for the better. Electronic Paperwork Property management is a field that creates a necessity for large amounts of paperwork. Landlords, property managers, and investors would have to dig through large file cabinets anytime they ran into a question about rental applications, contracts, maintenance bills, leases, and other matters. Now, both landlords and tenants can access digital versions of these documents via property management programs to read and sign them without taking up a large amount of space or having to organize them. You may still print out any necessary documents, but electronic paperwork greatly simplifies the process. Maintenance Scheduling When tenants report a problem and send a maintenance request, some details may get lost during the process, which can lead to the situation at hand not being immediately fixed, or to escalate into a worse problem. An automated or online maintenance scheduling feature allows tenants to describe the problem in detail and landlords or property managers to submit a response and contact the required contractors. In addition, maintenance programs also provide a detailed account of the steps and procedures taken to fix the problem. This information is useful for the procedure itself and for bookkeeping reasons. Finally, maintenance records can inform you when a specific appliance or unit needs a check-up or procedure with easily-accessible data. Rent Payment Streamlined rent payment provides a large amount of benefits to both the tenant and the landlord. Tenants can easily pay from the comfort of their units without cash or check and can even set up automated payment, so they do not forget. This practice reduces cases of late or missing payments. You can also keep payment records through this service to settle disputes or for other reasons. As a bonus, online rent payment spares you several trips to the bank to deposit funds that may not always come to you at the same time. Rent Listings Another aspect of property management that technology has made more efficient is rent listings. Landlords and property managers can use websites, apps, and special software to list every detail in vacant properties, including photos, features, amenities, potential restrictions, contact methods, and more useful information that a prospective tenant can view from their computer or mobile phone. This allows the future tenant to decide on whether a property is right or not, without having to waste your time scheduling unfruitful showings. In fact, you can even schedule online showings through these programs or apps for greater convenience. Several of these services are provided by property management programs that use cutting-edge technology to streamline the process. Home365 handles rental listings, tenant matters, maintenance, and more. Learn more about our innovative features here. --- > How do you find ways to convince people to rent out your property during the off-season? Click to learn about some of the methods you can use - Published: 2019-04-26 - Modified: 2023-03-14 - URL: https://www.home365.co/general-knowledge/how-to-fill-vacancies-during-the-off-seasons/ - Categories: General Knowledge How do you find ways to convince people to rent out your property during this harsh off-season? This is even worse for property owners who are seeking tenants. Learn about some of the methods you can use to attract potential tenants to your property during the winter season. Holiday Advertisement The winter season is a perfect time to update your marketing strategy and get the word out about your vacancies. If you have stuck to the same reliable marketing strategy, then it’s time for a change. For starters, add a holiday theme to your marketing. It adds a touch of fun and shows that you adapt to the season. In addition, increase the venues of your marketing. If you haven’t done so, place ads in social media, newspapers, networking events, online, and email. Make sure your advertisement stays high quality by hiring a copywriter for your ads and a professional photographer to take appealing pictures of your property. Temporary Cost Incentives During the winter season, there is likely some desperation in obtaining new tenants. Embrace seasonal cost incentives in order to draw more interested tenants to your rental units. The winter season already features lower prices due to the demand decrease. Offer some of the following incentives and small gifts in order to sweeten the deal: Free utilities for the first monthLower rental costs for the seasonGift cards for helpful expenses, like grocery shoppingMemberships to wholesale places like Costco In general, provide an incentive that will help the future tenant’s moving process and overall life. Spend the money you need to bring new faces to your building. Don’t Become Too Desperate While some desperation is necessary during this time to urge you into completing tasks, you also do not want to become overtaken by that feeling and do something you could regret. For instance, you might rush the process and neglect to establish a lease agreement, something necessary to establish rules and protect yourself in case of legal action. Desperation can also drive you to make unrealistic compromises to keep a future tenant interested, such as offering the first month of rent for free. Pace yourself and find the right tenant for your property. Seek References These months offer a great opportunity to meet up with family and friends, as well as spend valuable time with them. If you are unable to fill the vacancies in your home, try talking to these loved ones if they know anyone in need of a new house or a new apartment. You can also expand that search by including coworkers, networking connections, and even previous or current tenants. If they don’t know anyone, ask them to spread the word throughout social media or other venues. Some cities also have tenant placement services that can direct you to potential new tenants. No matter the season you take in new tenants, stay one step ahead in property management with the help of Home365. To learn more about our services submit your information to get a personalised, no-obligation pricing click here --- > Keeping up with your property’s insurance is one of the most painful parts of being a landlord. Save money by following some of these helpful tips. - Published: 2019-04-19 - Modified: 2023-03-14 - URL: https://www.home365.co/general-knowledge/rental-property-insurance-tips-that-prevent-pain-and-save-money/ - Categories: General Knowledge Keeping up with your property’s insurance is one of the most painful parts of being a landlord but it is one of your basic responsibilities. As you gather up additional rental units, your insurance terms may change, you can lose coverage, and you must deal with rising costs. Save money on your rental property insurance by following some of these helpful tips.   Avoid Claims One reliable way to keep your insurance rates stable is to avoid filing claims as much as you can. Each claim you file will stay in your record. Eventually, after reaching a certain limit or number of claims, your insurance provider will either increase your rates or drop you. Save your insurance claims only in case of expensive emergencies and catastrophes. In cases of minor repairs or damage, you should consider absorbing the damage and investing in repairs instead. Generally, try to handle the repair of anything that is under $10,000.   Rental Insurance Your landlord insurance covers only certain conditions and situations, such as injuries, water damage, falling trees, fire, and other natural incidents. However, your insurance will not cover the tenant’s personal property. Encourage your tenants to purchase rental insurance that will cover their belongings. You can even include it as a requirement in your lease agreement. This way, everyone will stay clear on what’s covered and what isn’t.   Bundle Your Policies Keeping track of multiple insurance policies is a great annoyance, particularly if you have several companies provide these policies. Increase the efficiency in your insurance matters by bundling them all within a single company. You can place multiple types of coverage under one roof, such as personal, home, auto, landlord, and life. Insurance companies encourage policy bundles, and they may even give you a discount as an incentive.   Meet With Your Agent An easy mistake a landlord can make is to assume that his or her insurance providers will handle all matters by themselves and require little intervention. Insurance is something you need to constantly keep up with and update. Meet with your agent from time to time and read all the notices to make sure everything is in good shape.   Shop Around for Policies Make sure you know you’re not missing out on a good deal and compare quotes between insurers. Loyalty to a specific insurance company does not always guarantee a good deal or reasonable quotes. By shopping around for different policies and quotes, companies will know that you are a savvy customer and offer their own incentives and discounts.   Safety Features The installation of safety features in your rental building not only increases the safety and wellbeing of your tenants, but it also makes a more appealing choice to your insurance company. This practice demonstrates that you are reducing the risk the company takes in having you as a client, which means you are less likely to cash in your claims.  Your rates have a good chance at remaining stable or even lower. Some safety features to consider include surveillance cameras, sprinkler systems, and alarms.   Increase the efficiency and profitability of your property management by choosing Home365. Contact us to learn more about our Sensory system our preventative sensory system that is installed throughout the property to detect maintenance issues before they become major problems. --- > Determining the billing methods for your rental units is important - Click here for more information - Published: 2019-04-09 - Modified: 2023-03-14 - URL: https://www.home365.co/general-knowledge/should-landlords-include-utility-costs-in-the-rent/ - Categories: General Knowledge Determining the billing methods for your rental units is important, as it changes how much income you’ll gain and whether you’ll attract or repel potential tenants. When it comes to utilities, you have the choice to either include them as part of your overall bill or make them the tenant’s responsibility. When creating a budget for an investment property consider some of the advantages and disadvantages of including utilities in your rental bill.   Advantages of Including Utility Costs Accounting for and including utility costs in your monthly bills can present you with some advantages you can use.   Enticing tenants. Some people don’t want to deal with paying additional bills on top of their regular rent. By announcing that you will include utilities in the monthly bills, it will provide a convenience that will attract several interested tenants.   Combined meter. This process does not just apply to the tenant. You can manage a combined meter instead of having multiple meters to look after and ensure that tenants are paying the bills. You can set the appropriate rent or include utilities in the bill.   Charging extra. Another benefit from including utilities is the ability to charge some extra money. After all, you need to gather enough money to pay fluctuating utility bills each month. Research the highest average monthly cost, as well as average utility costs, and charge just the right amount.   Tax deductions. If you charge the right amount and earn more profit overall, then yes, you must pay taxes. However, utilities are seen as a legitimate business expense of managing and owning your rental units. Consult your accountant for potential tax deductions.   Disadvantages of Including Utility Costs On the other hand, the inclusion of utility costs has its own set of drawbacks you should consider.   Repelling tenants. Even though some tenants enjoy the convenience of placing all their costs in one bill, it can also put off other prospective tenants. If you advertise your monthly bill with utilities included, they might think you are asking for a bigger amount than you actually are.   Greater risk. As you include utilities in your bill, you are also assuming extra responsibility. If your tenants are late or refuse to pay rent, it will impact how much you will have available with which to pay the utility bills. Making utilities your tenants’ responsibility relieves you from that risk.   Billing limits. Even though you can charge higher to make up for rising utilities, you still have restrictions. You can only change the bill when the lease comes up, which may be a year away. Also, a soft market limits the amount that landlords can raise their bills.   Encourages bad utility use. When you streamline the billing process by including utilities, you can also give tenants a false sense of security. They might become encouraged to use more energy or take longer showers, since they expect the landlord to cover them. You will pay for the misuse, and it also leads to reduced energy efficiency.   Streamline the payment process for both yourself and your tenants by using Home365. Contact Us to get your customized OneRate today! --- > Considering a pool on your rental property? Learn why the time and money on maintenance is too much and not worth the investment or trouble. Read more. - Published: 2019-04-02 - Modified: 2023-03-14 - URL: https://www.home365.co/renovation-and-maintenance/4-reasons-why-a-pool-on-your-rental-property-isnt-worth-it/ - Categories: Renovation and Maintenance, Renovation Ideas As a rental property owner, the maintenance of your property and its amenities is usually a sound investment, since it keeps your tenants happy, in their rental units, and paying their dues. However, certain amenities like swimming pools may be too much trouble for the time and money you spend in their maintenance. Consider some of the following reasons keeping a pool as part of your rental property isn’t worth the investment.   Maintenance Investing in the maintenance of your rental property brings along numerous benefits that will keep both you and your tenants happy. However, a pool presents both high risks if it lacks proper maintenance and growing costs to keep it that way. Keeping a pool in top shape involves the maintenance of several mechanical systems, as well as the electronic system that controls the pump and offers lighting. You are also responsible for other tasks such as clearing debris, cleaning the filters, chlorinating the water, adjusting the chemicals and more. Some of the consequences of a poorly maintained pool include: · Drowning accidents from improper or unauthorized use · Health hazards from dirty or contaminated water · Lack of aesthetic appeal that brings down the property value   While it sounds tempting to let an experienced tenant care for the pool, your best bet is to call professionals to handle it, even it adds more expense.   Liability As the property owner, you are responsible for any incident and injury that occurs due to swimming pool use. Pools, in general, present a great number of hazards compared to other amenities, including drowning, falling, exposure to toxic materials, and more. Even a properly maintained pool increases the chances for accidents to occur. You are also liable for injury if it happens to a guest or an unauthorized user. In general, a landlord is liable under three conditions: · Landlord knows about the dangerous condition · Landlord fails to repair the condition within a reasonable amount of time · The accident is a direct result of said condition   Extra Insurance Your general liability insurance policy should already cover you when it comes to swimming pools. If not, you will need to purchase additional insurance. Since your insurance will likely consider your pool an attractive nuisance, you will have to comply with certain safety requirements in order to keep your coverage. You must use protective measures such as safety covers, fences, gates, and locks to keep children and uninvited guests away from the pool, something that also adds to your expenses.   Unreliable Appeal One of the few incentives in adding or maintaining a pool in your rental property is to entice future tenants. Millennials, for example, see pools as one of the top features they seek when looking for a home. However, the appeal is not for everyone. While small children may enjoy pools, their parents may avoid them to prevent injury. Older tenants may also show disinterest in them.   One of the many services that Home365 provides is efficient property maintenance. Schedule a free demo today to find out what we can do for you and your property. --- > Sometimes, you may wonder why you don’t make as much money with your investment as you can? Here are some of the bad habits that landlords are guilty of - Published: 2019-03-26 - Modified: 2023-03-14 - URL: https://www.home365.co/general-knowledge/landlord-bad-habits-you-need-to-break/ - Categories: General Knowledge Sometimes, you may wonder why you have difficulty attracting or keeping tenants, or why you don’t make as much money with your investment as you can. While you can consider some outside factors or the quality of your rental property itself, you also must take a step back and look carefully at some of your own behaviors or actions. Identify some of the bad habits that landlords are guilty of that causes them to lose rental income. Not Allowing Pets Most property owners simply do not allow pets in the property entirely. While this is understandable, as pets can cause a lot of damage in the unit, it can also cost you potential income. A great majority of Americans are pet owners, and by enforcing a strict blanket policy against pets, you are losing potential tenants over it. If you are still uncomfortable with having pets in your property, you can take measures such as charging monthly pet fees, restricting certain liable breeds, and encouraging tenants to buy insurance that covers pet liability. Procrastinating on Maintenance Putting off maintenance tasks, especially ones requested by tenants, ultimately brings more trouble than its worth. After all, if you don’t enjoy it when tenants are late with their rent, they you should not handle repairs in the same way. If you avoid taking care of repairs as needed, the problems will only escalate and further damage your property. Take care of even small, cosmetic repairs to keep your tenants happy and the income coming in. Excessive Late Fees Encouraging your tenants to pay their rent on time is important to ensure a respectful relationship and receive the money necessary to pay off property bills and invest in repairs. Charging late fees to ensure timely pay is not unreasonable, but make sure you set fees that actually cover the damage created by the fee delay. If you charge far more than reasonable, you can find yourself repelling tenants or landing in legal trouble. Bad Screening Protocol It’s not your fault if and when you end up with an irresponsible tenant you must throw out. When you have multiple irresponsible or dodgy tenants, however, it may be a sign of a larger problem. Most likely, the tenant screening protocol you or your property manager enforce is too relaxed or inadequate to weed out problematic tenants. Rather than constantly blaming bad tenants, enforce a more detailed and stricter screening process to mitigate the issue from the start. Misusing Security Deposit The income you receive from a tenant’s security deposit is supposed to repair damage beyond typical wear-and-tear, necessary cleaning, and late rent fees. However, some landlords still misuse security deposit funds to cover refurbishing, minor repairs, cosmetic improvements, and appliance upgrades, instead of saving them for urgent repairs. You should avoid a massive legal issue and make better use of the money by spending it only on genuine emergency repairs. Learn to control some of your bad habits by using the right support systems. Learn more about how Home365 can help you improve your property management skills. --- > What does spring cleaning consist of? Here is a list of things that we have compiled, most of it is DIY but for some, you may need professional help. - Published: 2019-03-22 - Modified: 2023-03-14 - URL: https://www.home365.co/renovation-and-maintenance/spring-cleaning-and-property-maintenance/ - Categories: Property Maintenance, Renovation and Maintenance This year winter weather has been a bit extreme in the United States. Be it the arctic freeze in Chicago or the rare snow in the suburbs of Los Angeles. But cheer up! Spring is almost here and so are warmer days. The official first day of Spring 2019 is on Wednesday, March 20. But you may wonder what does spring cleaning consist of? Here is a list of things that we have compiled, most of it is DIY but for some, you may need professional help.   Grime it away! Grime in the bathrooms and kitchen surfaces can be stubborn and needs to be handled. There are tons of products available that are effective in removing grime.   Scrub out the Grout  Grout is the cement type material that is extremely porous and stains easily. You can find it in between the wall, floor, and countertop tiles. You can use homemade grout removing products like vinegar and baking soda or you can go with a penetrating grout sealer like oxygen bleach.   Zoom up the dust  Carpets and rugs must be deep-cleaned to keep the home clear of various allergens and bacteria. Commercial grade vacuums are available to rent at various home improvement stores. Carpet cleaning can be either entrusted to the professional or can be a DIY.     Check those batteries  All the batteries in sensors such as smoke detectors, carbon monoxide detectors units, must be changes. Also, change the air/furnace filter to keep it dust free.   Suds on the Window To enjoy the warm sunshine inside the home, window washing must be done. Just plain old warm water with a mild dishwashing liquid to scrub is all you need.   Spring cleaning is an important aspect of property maintenance and shouldn't be neglected for the better health of the property. --- > We rarely acknowledge women breaking the mould in blue-collar trades. Today we would like you to meet Sunshine Ray. Click here to read more - Published: 2019-03-08 - Modified: 2023-04-11 - URL: https://www.home365.co/general-knowledge/meet-sunshine-ray-breaking-the-mould-in-blue-collar-trades/ - Categories: General Knowledge Women who break through glass ceilings in business, politics, art, and science are tremendously acknowledged but we rarely acknowledge women breaking the mould in blue-collar trades. Today we highlight a trailblazer in her own right, meet Sunshine Ray, COO of Atlas Plumbing, Las Vegas. Born and raised in Las Vegas with an undergraduate degree from ULNV in Business Marketing, Sunshine had similar dreams like any other entrepreneur “To create her own path. ” She tried several different industries ranging from F&B, Business Brokerage to Residential Real Estate but she wasn't happy cos she knew she wanted more. Then one day her brother called and asked if she would like to work for her fathers’ company, Atlas Plumbing. She very candidly says, “At the time, I was uninterested in a career I associate with toilets and everything that gets flushed down them. Like many people working outside this industry I did not realize how much training and knowledge a person needs to be a plumber or business owner in this industry. I did not understand how many different products, systems, codes, rules, technology and licensing are required and used every day to perform plumbing services. ” She now has profound respect for those who work in this field, it is not easy, there are new mental and physical challenges daily. Making the switch from her regular job to own and operate a plumbing company she turned a few heads in the process! Being a woman in a male-dominated trade has not only challenged her but has also inspired her to prove it to herself and others that she can run this company and excel at it. “I am proud of what I have accomplished thus far. There will always be trials with running a business mostly dominated by one sex or not, its inevitable woman are from Venus and men are from Mars. Lol! ” Sunshine feels that she is fortunate, that the men she has worked so far have accepted her in this industry, which she attributes it to her attitude. She is not afraid of getting her hands dirty or rolling her sleeves up to jump in and help alongside her team. More and more women are entering nontraditional occupations than ever before. Plumbing can offer women a lucrative career with increasing opportunities for training, education, which can even be funded with grant money for both men and women that want to learn this trade. The increasing need for tradespeople creates a wonderful opportunity to learn this craft in a trade that will always be a necessity. Sunshine says “I absolutely encourage more women to take up this trade, it’s an exciting industry where no two days are exactly the same, you are exposed to newest technology and most enjoyable for me we get to come into your home and “Save the Day”, by restoring your home back to your comfort place. I invite anyone interested to jump in and get your hands dirty with us! ” Home365 is proud to have Atlas Plumbing as a value-added vendor in Las Vegas Area. See how we at Home365 manage property management, do things and learn more about what we offer by getting on touch with us. --- > When buying an investment property, some flaws can mean the difference between a lucrative deal and a nightmare. Pay attention to these red flags - Published: 2019-03-06 - Modified: 2023-03-14 - URL: https://www.home365.co/general-knowledge/real-estate-investing/red-flags-to-look-for-when-buying-an-investment-property/ - Categories: Real estate investing When it comes to buying an investment property, some flaws can mean the difference between a lucrative deal and a nightmare. If you’re buying an investment property, pay attention to these red flags to make sure you make the right choice.   High Crime Zones Areas with high crime tend to have some of the lowest rent rates around. The low rent rate makes it impossible to afford any necessary repairs to a building. In addition, areas with crime are less safe and can scare a great plenty of potential tenants from moving to these areas. Some of the tenants in high crime zones also either have difficulty paying for rent or are more likely to cause damage to a unit.     Awkward Layouts Inappropriate room placements are annoying to tenants. Some of the layouts can make no sense and inconvenience the people living there, such as a garage only accessible through the bedroom, a bedroom only being accessible through the kitchen, or so many more bizarre layouts. Some of these placements are fixable via tearing down or building a wall. However, these are unnecessary maintenance costs that have very low ROI and are probably not worth the price.   Lack of Information Make sure you ask the seller about hard facts, such as neighborhood appeal, the rates of rentals vs. vacancies, year-to-year profits, and hard numbers. If the seller lacks clear answers or relies on guesswork, then the success rate for rentals in the building is most likely low. If you are not satisfied with the answers, simply move on to a more profitable option.   Bad Neighborhoods It is usually recommended to invest in an area that is either already popular or rising in popularity. Neighborhoods that are known for being unsafe, filthy, derelict, deserted, or in the middle of nowhere, on the other hand, will have those reputations stuck to them for a long time. You will have difficulty finding tenants and therefore, making up for the costs.     Too Much Maintenance Some properties have issues that cost too much to fully repair, such as significant structural damage, mold, or overall signs of decline and neglect. For these properties, you will likely spend far more in maintaining and repairing these units than what you are able to make up for in profits or rent.   Nonsensical Calculations Make sure to run the numbers on a specific property. If you cannot see any possible way to make money from the investment, or your expenses will outweigh what you project to gain, then this property is not worth it.     Learn more about how Home365’s maintenance services can improve your property management process. --- > Renting out your home is different from investing in a property for rental income. Here are 5 tips for renting out your own house. Click here to read more - Published: 2019-02-21 - Modified: 2023-03-14 - URL: https://www.home365.co/general-knowledge/5-tips-for-renting-out-your-own-house/ - Categories: General Knowledge Renting out your home is different from investing in a property for rental income. Your home is much more personal to you and creates a connection that is difficult to sever. Additionally, there are other factors, such as neighbors or other long-term investments to consider.   There are several situations that could lead you to rent your own home. For instance: You’re single and want to share the mortgage with a roommate You inherit your parents’ house and you don’t know whether to rent or sell You wish to move, but can’t sell your house   However, you need to look at the pros and cons of renting and how you’ll handle collection and management. This step also helps you determine how much you should prepare your home for a tenant.   Determine Your Rent Before you search for a tenant, make sure you have a set rent. Determine how much you should charge by figuring out the fair market rent of your home. Make sure you research what other homes with similar attributes to yours are renting for. This price might be lower than your mortgage rate, but it must match what is in the market in order to gain tenants.   Find a Good Tenant Finding a tenant who will take care of your house and assume rent payments is somewhat of a risk. The following tips can help you attract the right kind of tenants and show how to narrow down your choices: Attract potential tenants by publishing in a newspaper and online ads, looking on websites such as Craigslist for tenants who are searching for new places, or placing a simple “For Rent” sign in front of your home. Formulate an application form that asks for some basic information as well as a few factors that interest you Hold an interview process that allows you to observe your tenant’s behavior and responses to situational scenarios. Perform a background check on your applicant that includes credit score, income (look for incomes that are three times higher than your proposed rent), criminal history, and references   Draft a Lease Once you have a tenant, be ready to create a lease agreement with him or her. In this agreement, you set a few terms, from the payment of rent, security deposit, and other important matters, to general rules about housekeeping and behavior.   Hire a Property Manager If you’re not going to live in your house and you don’t want to deal with all the responsibilities of renting a home, a property manager can assist you. A good property manager can collect the rent, charge any late fees, handle repairs and maintenance, and deal with any early vacancies or evictions.   Home365 allows you to simplify the process of property management.  We are the next breed of Property Management company leveraging Technology, AI and Data. We are revolutionizing how you own and rent out real estate. Contact us to get a free demo --- > you want to buy an investment property, but you don’t have the liquid cash to make a great down payment. Here are some things to consider when deciding - Published: 2019-02-13 - Modified: 2023-03-14 - URL: https://www.home365.co/general-knowledge/should-you-sell-or-borrow-against-equity-to-buy/ - Categories: General Knowledge So, you want to buy an investment property, but you don’t have the liquid cash to make a great down payment. What do you do? One option is to use the equity of an existing property to fund the down payment. While some believe this is a huge risk, others believe it’s a necessary risk considering the potential of the new property. Here are some things to consider when deciding about whether to borrow against equity to buy another home.   Basics of Equity First, before making a decision or weighing the pros and cons, you should know the basics of equity and equity loans. Equity is the difference between the current market value of your existing property and the amount you still must pay on that property. So, if your property was worth $500,000 and you still have $300,000 left to pay, you would subtract that quantity to get your equity, which is $200,000.   To calculate your usable equity, however, which is the amount you would actually borrow, you would factor 80% of your property’s market value, in this case $400,000, minus what you currently owe, leaving $100,000 in our example, and multiply by four. In this case, you would, therefore, be able to borrow $400,000 to use on the down payment for an investment property.     Good Idea Now, this procedure is common and has some favor to it. Some people argue that it’s a worthy risk, especially if the investments from the new property end up making up the new loan debt you accumulated. In addition, they know that the bank would not allow anyone to get the full useable equity and gain even more debt. Equity loans, when controlled and guided by financial experts and sound judgment, can be the means to a worthy end.   Bad Idea On the other hand, some argue that this is a reckless move that can place people in debt. Equity is a useful resource that can serve as additional funding for home improvement, maintenance, repair, or even job loss or medical emergency. By spending it, not only are you giving up emergency funding, but you will also take on additional debt from the equity loan. Not to mention that spending money on an investment property is a risk. If your new investment doesn’t pan out, you can lose both of your properties.   Make the Right Decision Ultimately, the decision falls on you. Do the market research and see how much your new property is worth. Don’t invest on something you can’t afford. Also, use a professional appraiser as a financial advisor to make an informed decision on your investments.   --- > What Are the Legal Responsibilities of an Owner Landlord? Here are some of the legal responsibilities of landlords. Click here to read more - Published: 2019-01-24 - Modified: 2023-03-14 - URL: https://www.home365.co/general-knowledge/what-are-the-legal-responsibilities-of-an-owner-landlord/ - Categories: General Knowledge From the moment you legally own a property and lease it to others, you take legal responsibility for every single aspect of the property, from the maintenance and security of the building to the safety of the tenants. Of course, where your responsibility begins and ends considering tenant safety and other issues is a little more complicated. For instance, if a tenant is mugged in your parking lot and the lighting was too dim, you may be held partly responsible. However, if the mugging occurred and there was plenty of light and security, then the incident is out of your control.   The following are some of the legal responsibilities of landlords.   Environmental Safety A landlord is responsible to ensure the environmental safety of the property. All materials that compose the building and the environment around it are the responsibility of the landlord. This means if someone becomes sick from lead paint or asbestos that are part of the building’s structure or maintenance, or from exposure to mold, the landlord is responsible.   As a landlord, you can prevent some of the environmental hazards in your building if you take actions such as: Encouraging tenants to report any problem, such as faulty plumbing or mold Making sure a maintenance team fixes every issue you know of, and looks for more you don’t Informing tenants ahead of time about hazardous materials like lead paint and asbestos   Tenant Safety Landlords are liable for injuries suffered by their tenants if those injuries result from a lack of maintenance or other preventable irregularities in the building. Most owner-liable injuries occur in the common areas that the owner has direct control of, not the individual units. The only exception to this occurs if the injury occurred due to a poor repair job.   As a landlord, you can take the initiative in preventing injuries by: Encouraging tenants to report anything wrong with the building Inspecting the premises and keeping your progress on a list Ensuring that repair requests and urgent repairs finish as soon as possible Buying property insurance for building damages and other possible tenant issues   Security While liability is not as clear as environmental and tenant safety, property owners hold some degree of responsibility over any criminal activity or damage that occurs on the property. Landlords are responsible for keeping the tenants safe from criminal assault, theft, and even other tenants.   You can prevent any criminal-related incidents you might be held liable for by taking the following security measures:   Meet or exceed local and state laws that apply to rental properties Use the latest developments for safety in your building, like deadbolt and window locks, as well as doors Assess the crime situation in your area and design a security system that protects your tenants Inform your tenants about the crime demographics in your neighborhood   Home365 can help you be a responsible landlord by streamlining the property management process and allowing you access to a network of trusted maintenance workers in a quick, efficient system. Contact us today for a free demo.   --- > For many property owners, rent is a primary source of income. The following steps will help you act when a tenant falls behind on paying rent. Click here - Published: 2019-01-24 - Modified: 2023-03-14 - URL: https://www.home365.co/general-knowledge/when-to-evict-how-long-is-too-long-to-wait/ - Categories: General Knowledge For many property owners, rent is a primary source of income. When tenants fail to pay on time, it can affect the property owner’s bottom line. When that source of income becomes disrupted, you will be unable to pay for several expenses related to property, such as taxes, fees, and utilities. The following steps will help you act when a tenant falls behind on paying rent.   1. Double Check Your Records Before you act, make sure that the tenant’s rent is truly overdue. Check your lease documents and payment records to ensure that the tenant is truly late. This process can take place during the unofficial grace period of three to five days after rent was due. This step can prevent you from wrongly accusing a tenant of being late. If the tenant really is late, the extra time might encourage them to pay rent.   2. Talk to the Tenant Now that you’re sure the tenant is late, talk to them. Tell the tenant that he or she has breached the contract and that you need rent payment as soon as possible. You can even offer to let the tenant out of the lease without penalty if he or she leaves by the end of the week. This is potentially a final chance to have the tenant pay. If the tenant refuses, move to file a formal eviction notice.   3. Pay or Quit Notice A “pay or quit” notice is a legal document a landlord sends to a tenant. The document states that the tenant must pay his or her rent, plus late fees, by a certain point or else the tenant’s lease terminates and he or she will be forced to leave. Usually, this time period lasts between three to five days. If the tenant continues to refuse to leave, you might need to apply for an eviction action that allows you to hire the sheriff to enforce the eviction. You might need to show your “pay or quit” notice when filing the action.   4. Legal Action If you have gone through all the above steps and the tenant still refuses to pay and continues to stay, it might be time to take legal action as a last resort. Hire an eviction lawyer and take the case to court by filing a tenant-landlord complaint. Remember to start this procedure right after the period indicated in the “pay or quit” notice, as a court process can take months to resolve, and you cannot evict the tenant until the court case finishes. When your court date arrives, make sure you have all the documented evidence ready and you know exactly what you’re going to say.   Make the rent payment process easier for both yourself and the tenant with Home365. Contact us to learn more about our services and schedule a free demo. --- > Choosing the right tenant isn’t as easy as accepting applications. Learn about your rights as a landlord and what potential tenants can expect. - Published: 2019-01-24 - Modified: 2023-03-14 - URL: https://www.home365.co/general-knowledge/landlord-rights-can-you-choose-the-tenant-you-want/ - Categories: General Knowledge Choosing the right tenant isn’t as easy as accepting applications. You want to protect your property from irresponsible tenants, but, at the same time, some of that wariness can look like discrimination, and potential tenants are careful to protect their rights against unlawful restrictions. Tenants have rights, too. Learn about your rights as a landlord and what potential tenants can expect. Understanding Fair Housing Before you start choosing tenants, make sure you understand discriminatory practices and the rules that protect applicants from them. The Federal Fair Housing Act protects applicants on basis of: Race Religion National origin Gender Age Familial status Physical or mental disability Marital status Sexual orientation Check Background Information Landlords have the right to investigate their tenants. Information such as credit scores, income, and bank account information is a great way to determine whether a tenant will pay rent on time, protect your property, and otherwise be a responsible tenant. Obtaining background information does not break any anti-discrimination laws. You can’t determine a person’s character and personality based on their financial information, so there are other things to consider. Always check an applicant’s references to get any additional information about his or her behavior, personality, and other habits. This method can help you weed out any destructive or troublesome tenants before they cause any damage. Business Decisions As a landlord, you have the right to reject an applicant if they cannot pay rent in a timely manner, lack funds for a security deposit, or fail the conditions of the tenancy. Some of the valid business-related reasons for rejecting a prospective tenant include: Bad credit history Insufficient income to make necessary payments History of property damage History of late payments When making these decisions, keep everything as objective as possible instead of letting personal bias influence your choices. You may like a potential tenant, but if he or she has a history of late payments, don’t expect anything different. Stay Consistent Perhaps the most important part of applying your rules and standards when seeking out potential tenants is to practice consistency. If you are going to look for a specific requirement or establish a particular rule, make sure your policy applies to every applicant that comes your way. Consistency prevents ambiguity, and ambiguity in the enforcement of the rules can lead to charges of discrimination, even if unintentional. For instance, accepting applicants out of the order they applied doesn’t seem like blatant discrimination. However, that small inconsistency plants the seeds of doubt for a fair process and sets you up for discrimination accusations. Allowing someone to turn in rent late also can appear as an act of kindness. On the other hand, other tenants might see that gesture as preferential treatment. To establish a consistent process and boost the satisfaction of your tenants already in your property, then check out Home365’s numerous services and schedule a free demo today. --- > Taxes are confusingץ However, if property investors don’t follow these laws, they can face severe consequences from the federal government. Click for info - Published: 2019-01-08 - Modified: 2023-04-11 - URL: https://www.home365.co/general-knowledge/real-estate-investing/what-investors-need-to-know-about-property-tax-laws/ - Categories: Real estate investing What Are Property Tax Laws? Taxes are confusing, politically charged, and seem to change every time someone new comes into power. In the case of property taxes, the IRS regulations surrounding them seem to be endless. However, if property investors don’t follow these laws, they can face severe consequences from the federal government. A property investor must report any income they receive relating to their properties on their tax returns. To do so, the investor must know what types of income he or she must report and what deductions he or she is able to take away. Income ReportingProperty investors must report any income they have received during the fiscal year from their properties on an IRS tax return. This income includes:RentExpense reimbursementsInsurance payoutsBonds Property investors must save documentation to prove this income, including receipts, invoices, and bank account deposits. The higher the income, the higher amount of taxes an investor must pay. Claiming property expenses as deductions can help bring these tax costs down. What Are Deductions? Before investors report their income to the IRS, they need to know the deductions for which they are eligible. These property deductions must include documentation that proves the investor spent this money on the property and not for other purposes. It is a crime to claiming ineligible or false deductibles to bring tax costs down. Luckily, property investors can deduct nearly all their property expenses on their tax returns. Common deductibles a property investor can claim include:Mortgage interestProperty management costsMileage used to drive to and from propertiesProfessional services, such as a lawyer, accountant, or on-site property managerDepreciationProperty damage from a tenantIf a property investor lives in one of his or her properties or works from home, he or she can claim expenses such as utilities, internet connection, electricity, and other operation necessities as deductions. It’s important for investors to keep track of all their income sources, expenses, and business operations. Sometimes investors will discover the most unexpected costs they can claim as deductions, reducing the income on which they must pay taxes. Not all expenses are eligible for deductions. A property investor may not claim the following expenses as deductibles:Costs incurred prior to owning the property, such as environmental assessments and extermination servicesDamages incurred prior to owning the property, such as plumbing repairs or window replacementChanging PoliciesProperty tax laws are subject to federal government policies. Tax laws often change when different political parties come into power. Theoretically, property tax laws in 2018 can look quite different in 2022. For this reason, it is vital for property investors to stay informed on politics and changing tax policies. Hire a ProfessionalTax laws are complicated and breaking these laws, intentional or not, can result in severe fines or even jail time. Savvy property investors enlist the help of a certified accountant or financial professional to help them prepare for tax season. Looking for simple ways to organize your property investments before tax season? Contact Home365 today to learn more about our portfolio management software and to schedule a free demo. --- > Budgeting is a critical skill for day-to-day expenses and property investments. Follow these tips, to create an effective plan for your investment spending - Published: 2019-01-08 - Modified: 2023-03-14 - URL: https://www.home365.co/general-knowledge/real-estate-investing/3-tips-for-creating-an-investment-budget/ - Categories: Real estate investing Budgets Are Crucial to Investment Success Budgeting is a critical skill that every adult needs to master. From weddings to day-to-day expenses to saving up for a new car, budgets are crucial to the way we manage our money. They help us stay under our spending limit, organize our expenses into manageable chunks, and keep track of our income. The same logic applies to investments, especially property investments. Diving into a new venture without calculating your month-to-month expenses, projected savings, and creating an emergency fund is risky and dangerous. Knowing how much you want to spend and in what areas is vital to keeping your property investments in tip-top shape. A well-organized investor knows a well-crafted budget is the key to investment success. Designing a budget from scratch can be daunting, but by following these tips, you will be able to create an effective and logical plan for your investment spending. Assess Your Financial Situation Assess your financial situation before diving into property investments. Calculate your monthly expenses, income, and assets so you know exactly with what you’re working. Identify ways you can cut costs to save up for your first property purchase and its associated expenses and risks. This will help you lay down the bare bones of your investment budget. Once you’ve determined how much money you have available, you can create a budget using the following categories: · Investment costs: property costs, inspections, and closing costs · Monthly expenses: taxes, interest fees, mortgage payments, utilities, and maintenance · Monthly income: rent from tenants From these categories, you can begin determining the projected values to create an estimated monthly budget. Using the estimated income plus any assets, loans, and other income sources, you can determine if you’re making positive cash flow from your investments. Calculating Positive Cash Flow Positive cash flow is important with investments – a positive cash flow indicates you are making money off your property. There are two formulas you can use to calculate positive cash flow in your investment budget. The capitalization rate is the property’s net operating income divided by the property’s value expressed as a percentage. Net operating income is your monthly income minus monthly expenses. For example, if your property is worth $200,000 and your net operating income is $10,000, your capitalization rate is 5 percent, which indicates a positive cash flow. The 1-percent rule states that if the monthly rent of a property is equal to or greater than 1 percent of the property value, you are making positive cash flow. For example, the 1-percent rule would state that our $200,000 property will need to have a monthly rent of $2,000 or more to have a positive cash flow. Both tools are helpful in determining a property’s monthly rent and if your investment budget is creating monthly cash flow. Budget for Emergencies The world of property investments is full of unexpected and unpleasant surprises. Sometimes, your properties will remain vacant for months, depriving you of monthly income. An expensive repair job or a disaster such as a fire or earthquake can also impact your cash flow. It’s important to create an emergency fund or security blanket to fall back on in these circumstances. You should have enough budgeted to keep your properties running for at least six months until you find a solution. To learn more about effectively managing your property investments, contact Home365 to inquire about our portfolio management software today. --- > it’s important to research a neighborhood’s crime rates and examine its surroundings before purchasing a property. Here are a few signs to look for - Published: 2018-12-21 - Modified: 2023-03-14 - URL: https://www.home365.co/general-knowledge/what-to-look-for-when-reviewing-a-propertys-crime-rates/ - Categories: General Knowledge You think you’ve found it – the perfect up-and-coming neighborhood. A local businessman opened the neighborhood’s first Starbucks, a Whole Foods is on the way, and a slow stream of young professionals has begun to call the area home. You jump on the trend and purchase the first property you can find.   Fast forward a few months later, and you can’t seem to get an application from a prospective tenant. You’ve had lots of visits, a few excited families, but once they’re out the door, you never hear from them again. You begin to wonder what could possibly drive them away.   The answer may lie in your neighborhood’s crime rates. The signs of a sketchy area drive away many prospective tenants, especially young professionals, families with children, and retirees. No one wants to live in an unsafe area, which is why it’s important to research a neighborhood’s crime rates and examine its surroundings before purchasing a property.   There are a few telltale signs that crime rates are too high for comfort in your neighborhood.   Graffiti Street art is a beautiful and creative way for a neighborhood to display its local talent. If someone spray paints incomprehensible graffiti on homes, sidewalks, and the sides of businesses, it can be a sign that high crime rates are present in the area. This also puts your property at risk for damage by graffiti artists.   Trash on the Streets Poor trash collection services are not desirable for people looking to move into a neighborhood. Trash littering the streets and clogging the sidewalks could be indications that local law enforcement or city officials do not consistently monitor the area. Dumped materials can pose serious health and safety risks to residents.   Vacant or Boarded-Up Houses Lots of homes in the area for sale that seem to stay on the market for months on end may be an indication that prospective tenants know more about the neighborhood than you do. If the reputation of an area is bad, no one will want to move there.   Boarded-up homes also indicate that investors are unable to sell them. Some investors board up homes to keep thieves and vandals out. If you see a boarded-up house in the neighborhood, it’s usually not a good idea to invest there.   Bars on Windows and Doors When local businesses in the neighborhood shut down for the night, do they simply lock their doors and leave? Or do they put extra protection measures in place? Bars on the windows and doors of local businesses, or even homes, may indicate robberies and other violent crimes are commonplace.   Do Your Research Always visit your municipal or state law enforcement website to research the neighborhood’s crime statistics before purchasing a property. This information will quickly show you if a lot of violent crime happens in a certain area. Potential tenants also view this information, so you’ll stay ahead of the curve and refrain from investing in a neighborhood with low returns and high crime.   To learn about more ways to maximize your real estate portfolio, contact Home365 today for a free demo of our investment management software. --- > A pest problem is a property manager’s worst nightmare. By delivering results quickly, you can squish out a pest problem in just a matter of days. - Published: 2018-12-21 - Modified: 2023-03-14 - URL: https://www.home365.co/renovation-and-maintenance/how-to-approach-a-pest-problem/ - Categories: Property Maintenance, Renovation and Maintenance A pest problem is a property manager’s worst nightmare. Not only are pests unsanitary, annoying, and scary, they can cause health and safety problems for your tenants, and in some cases, make your property uninhabitable. If you’re looking for new tenants, news of a pest problem can scar your property’s reputation. To keep a pest problem contained, you need to respond to pest complaints in a timely, efficient, and empathetic manner. By staying calm, listening to your tenants, and delivering results quickly, you can squish out a pest problem in just a matter of days. Stay Calm Make sure to stay calm when you receive a pest complaint. A pest issue is serious and scary, but it is solvable with proper action and follow-up. Do not blame the tenant or accuse him or her of lying; this will only lead to further issues. Tell the tenant you believe him or her, and you want to help. Speak calmly and apologize for the pest issue. Assure the tenant you will contact an exterminator once you’ve received all the necessary information about the pest. Collect All Important Information After receiving a pest complaint, sit down with the tenant and collect all the information you can about the situation. This information will come in handy when you schedule an appointment with a pest control service. Ask the tenant what type of pest they’ve seen, how many, and the severity of the issue. Ask him or her when and where the pest was seen. You may need to contact other tenants to see if they have noticed a pest problem. Send Out a Thoughtful, Action-Oriented Response If only one tenant has come forward about an issue, you may want to contact other tenants to see if they’ve seen pests. If the pest problem is widespread, affecting multiple tenants, or involves a serious pest such as rats, mice, and cockroaches, you will need to deliver a property-wide response. This response should be thoughtful, empathetic, and contain: A clear explanation of the problem (when, where, what, and how many) A recognition of the issue by the property An assurance that the property is contacting an exterminator Contact information to report a pest Follow Up Quickly It is important to respond and follow up quickly when you receive a pest complaint from your tenant. Deliver your thoughtful, action-oriented response as soon as you receive a pest complaint. Reassure your tenant that you will contact a pest control service immediately – and keep that promise. The tenant shouldn’t have to remind you to call the exterminator. It can be difficult to manage all your tenants’ complaints in one place. A disorganized property management system can lead to a complaint follow-up accidentally falling through the cracks, leaving unhappy tenants and a tarnished reputation – especially when it comes to pest problems. Home365’s property management software allows tenants to submit maintenance complaints using a simple, easy-to-use app. The platform connects tenants with a network of trusted contractors to schedule a repair appointment quickly and efficiently, providing peace of mind to tenants and landlords. To learn more about the Home365 platform, contact us today. --- > Third-hand smoke is long-lasting and difficult to remove. These simple cleaning tips will get your smoky property back in tip-top shape. Read more! - Published: 2018-12-11 - Modified: 2023-03-14 - URL: https://www.home365.co/renovation-and-maintenance/how-to-banish-third-hand-smoke-from-your-property/ - Categories: Property Maintenance, Renovation and Maintenance   What Is Third-Hand Smoke? You know cigarette smoke doesn’t simply disappear into the air if you’ve spent time around a heavy smoker. Cigarette smoke contains hundreds of chemicals that permeate every surface it encounters.   A smoker’s hair, clothes, and hands can reek of cigarettes. If a person smokes while they’re driving, their cars can smell like cigarette smoke for years – and their homes are no different.   The lingering smell of cigarettes is known as third-hand smoke. If you have a tenant who smokes heavily inside his or her home, your property will continue to smell long after the smoker has moved out. Prospective tenants will be less likely to rent a home that smells of cigarettes, especially if they don’t smoke.   Third-hand smoke is long-lasting and difficult to remove. Years, months, and even weeks of heavy smoking can cause damage to a home’s walls, floors, and fixtures. However, there are simple cleaning tips you can use to get a smoky property back in tip-top shape.   Let It Breathe Make sure all the surface odors are gone before performing any cleaning work on the property. If the previous tenant left behind any furniture or belongings, remove them from the home. Return the items to the tenant or donate them.   Next, open all the windows and doors and let the house ventilate. Turn on all the fans or place fans next to the windows. Keep the ventilation process going while you’re cleaning – this will ensure all surface-odor smoke clears out of the home.   The Miracle of Vinegar Vinegar effectively absorbs odors. Place small bowls of vinegar around the home and leave them in strategic areas. Kitty litter, baking soda, and activated charcoal also work to absorb odors. Leaving these materials around the home will suck up cigarette smoke and help rid the property of the odor.   Break Out the Paintbrush Some items are easily replaceable but removing the walls and ceilings of a property is expensive, time-consuming, and unnecessary. However, these surfaces absorb third-hand smoke odor, as well.   To remove cigarette smoke and residue from walls and ceilings, wash all the surfaces using very hot water and detergent. Repeat multiple times until all discoloration disappears. Next, repaint all the walls and ceilings with at least two to three coats of paint. The paint will lock in any leftover smoke or residue from the washed walls. To further banish third-hand smoke, apply a special odor-blocking primer to the wall’s surface.   Carpets, padding, and floors will also soak up cigarette smoke. Make sure to remove and replace all carpeting and wash floors thoroughly to remove third-hand smoke from these areas.   Don’t Forget the Little Things To remove all traces of third-hand smoke from a home, make sure you don’t forget to replace the small fixtures that catch and retain cigarette smoke.   Replace all the light bulbs in the property. Remove, clean, and replace all the air filters and clear out the ventilation ducts.   Home365’s property management software connects managers and owners with top-rated, trustworthy contractors who respond promptly and efficiently to all of your property concerns.   To learn more about Home365’s network of contractors and other services, chat with our service rep today.   --- > When making a property investment, it is crucial to know which properties are destined to fail and which are secret gold mines. Click here to read more - Published: 2018-12-08 - Modified: 2023-03-14 - URL: https://www.home365.co/general-knowledge/real-estate-investing/why-single-family-rentals-are-good-investments/ - Categories: Real estate investing When making a property investment, it is crucial to know which properties are destined to fail and which properties are secret gold mines. It can be difficult to determine the potential return on investment for a property.   Single-family homes are successful rentals for property investors. These homes are in high demand from trustworthy, accountable tenants, meaning vacancy rates will be low and rental payments on time. Single-family rentals are perfect for the novice investor and the expert alike, providing a steady stream of income and peace of mind.   What Are Single-Family Rentals? Soaring housing costs and a stabilizing economy mean more families are looking to rent a home rather than purchase one. Single-family rentals are small- to medium-sized detached properties that provide just enough space for a single-family unit, including parents, children, and a pet or two.   Single-family rentals are the fastest growing segment of the housing market, according to a recent study by University of California, Berkeley’s Terner Center for Housing Innovation. These homes are usually in suburban neighborhoods and comprise 62 percent of all housing stock in the United States.   Renting a home in a good neighborhood is much less expensive than purchasing one. Single-family rental units located in suburban areas are close to schools, businesses, and stores, making them attractive to young families.   High Demand Single-family rentals are in high demand among low- to middle-income families. Cramming a whole family plus pets into a two-bedroom apartment is not an ideal situation for today’s young families, which is why they’re seeking single-family home rentals rather than home purchases.   Single-family rentals provide many of the qualities and amenities these families desire, including:   Private laundry Parking spaces Ability to have pets Good schools Backyard space for children and pets Storage space Noise control Safe neighborhood Good landlord relationship Friendly neighbors Adequate size to house their families   Families are also looking to rent single-family units to gain upward mobility. Transitioning from an apartment to a house feels like a “step up” for many of these renters. Having the option to rent a home in a good neighborhood is preferable to purchasing a home in a less-desirable area or renting an apartment.   Property investors will meet this demand if they purchase and rent out single-family units – and because of this high demand, property investors will prosper if they purchase single-family units in desirable neighborhoods.   Accountable and Trustworthy Tenants Young families looking to rent single-family units are usually secure in their finances. The parents in these families are educated, responsible, and hold steady jobs. They will usually have an established rental history with solid credit. This means these renters are more likely to pay rent on time and in full. They are not as likely as other renters to skip out on rental payments; since they have children to look after, making sure their housing payments are on time is a top priority. Single-family units can provide a property investor with an accountable and trustworthy revenue stream.   Managing all your investments can be difficult without a synchronized management system. Home365 offers portfolio management software so you can stay up to date on all your properties, in one easy-to-use place.   Contact Home365 today to learn more about our services and to schedule a free demo. --- > Looking for ways to streamline your rent collection? Find out your options of payments from electronic to money orders and which are right for you. - Published: 2018-12-06 - Modified: 2023-03-14 - URL: https://www.home365.co/general-knowledge/tips-for-proper-rent-collection/ - Categories: General Knowledge Technology provides new ways to streamline the world’s business operations. New services and applications, such as PayPal and Venmo, make collecting rent easier than ever before.   But are these electronic money-transfer services right for property owners and managers? If not, what can property managers do to streamline the rent collection process and ensure their tenants pay on time?   Apps such as PayPal, Venmo, and Zelle, along with direct-deposit services, can damage a property’s credibility as a business and increase rent delinquency among tenants. However, there are best practices for rent collection that can make paying rent on time just as easy as a Venmo transaction.   Are PayPal and Venmo Appropriate? Many people use PayPal and Venmo to make payments on phone bills, utilities, and even rent. Some property managers are looking to these apps to provide an effortless way for their tenants to make rent payments. PayPal and Venmo are easy for tenants to use, but they take control away from property manager.   These services are inappropriate for high-volume business transactions, such as rent collection. Venmo’s purpose is to support transactions between friends, making it inappropriate to use for businesses. PayPal does support business transactions but charges a fee.   PayPal offers a money-back guarantee, which means if a tenant tells a PayPal representative the property manager defrauded them, PayPal will refund the money to the tenant. For example, if a property manager refuses to refund a security deposit, the tenant can call PayPal and receive the deposit anyway.   These services transfer rent collection control from the property manager to the tenant. Instead of paying on a scheduled date, these services allow the tenant to pay on his or her own schedule, increasing rent delinquency. Because the tenant can deposit money at will, properties have no control over cancelling or renewing leases.   What About Other E-Transfers? E-transfer services, such as Zelle or direct deposit are like PayPal and Venmo in their ease and accessibility. These services also place the power of rent collection in the hands of the tenant, and there is a limit on the amount of money Zelle can transfer.   Direct deposit can take away a property’s ability to evict a tenant. The tenant can deposit payments at any time since he or she has the property’s account and routing numbers. If a property manager attempts to evict a tenant and the tenant pays a small percentage of the rent, the property manager has “accepted partial payment” and any legal action will rule in favor of the tenant.   Streamlining the Rent Collection Process There are ways property managers can streamline rent collection and retain control.   Properties should use money orders or pre-written checks to deposit at the property’s discretion. This allows the property manager to stay in control of when renters make payments and for what amounts. Property managers may also opt for property management software that features automatic payment scheduling, late fee collection, and payment cancellation for evictions.   Looking for more ways to streamline your property management business? Home365 is here to help. --- > What Is an Environmental Site Assessment? and why is it important to property owners? Click here to get more information - Published: 2018-12-04 - Modified: 2023-03-14 - URL: https://www.home365.co/general-knowledge/what-is-environmental-site-assessment/ - Categories: General Knowledge What Is an Environmental Site Assessment? Property owners, managers, investors, and occupants all want to know that their buildings are safe and secure. However, health and safety risks aren’t always easy to spot.   Environmental site assessments (ESAs) provide targeted property inspection and peace of mind to people who operate commercial and industrial buildings. There are multiple phases of these assessments, but Phase I ESAs are the most common. Phase I ESAs are typically the only assessment a property needs. Phase II ESAs occur when Phase I finds a potential hazard.   Phase I ESAs provide property owners with liability protection from certain provisions of the Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA). Property owners who conduct Phase I ESAs fulfill the “all-appropriate inquiry” provision within the act. The owner can prove he or she investigated the property thoroughly and is not liable for the cleanup if a future tenant or investigation finds a toxic material on the property.   Phase I ESAs examine a property’s:   Historical records Historical topographic mapping Governmental environmental records Past and current occupants Full building interior Exterior property and grounds   These assessments make sure a property’s history indicates no improper storage or use of toxic materials; that the interior and exterior of the building contain no hazards or toxins such as mold; and that the property does not put the environment, including endangered species, at risk.   Mold, Asbestos, and Other Toxins An inspector will examine the building’s interior, exterior, and grounds. He or she will look for physical toxins that could pose a risk to the health of the building’s occupants and put a building’s owner at risk for liability.   An inspector will look for common toxins and other health risk factors, including: Mold Asbestos Lead, including lead-based paint Air quality inside the property Radon   The inspector and the final Phase I report will inform the property owner if there is a hazard found on the property. From there, the property owner will take steps to remedy the issue. An inspector may order a Phase II ESA at this stage.   A Property’s Toxic History CERCLA came into law after the infamous Love Canal incident. A chemical company in upstate New York began dumping its toxic waste into the canal between 1942 to 1953. The company buried the chemicals prior to leaving the area. The area became a residential neighborhood and several residents became severely ill; some babies were born with birth defects. The residents did not know about the area’s history until the late 1970s.   Phase I ESAs examine a property’s history for this reason. ESAs will look at historical records, governmental environmental documents, and topographical records to determine a property’s toxic waste past.   Risk to the Environment A Phase I ESA will also examine a property’s potential impact on the environment. If the property’s construction or operations pose a risk to any of the following, it may not be able to function as a business or residence:   Endangered species Wetlands Cultural sites Other environmentally protected areas   Managing the risks, hazards, and defects of a property is difficult to do alone. Property owners and managers require fast, reliable, and high-tech support to keep their tenants happy and healthy.   Home365’s property management provides a single platform for Real estate investors to view all incidents related to property. Contact Home365 today to learn more. --- > Here's how to Buy a Home (and Make Money) as a Millennial. If you're a millennial you should click here to read how to make money as a property investor - Published: 2018-11-29 - Modified: 2023-03-14 - URL: https://www.home365.co/general-knowledge/real-estate-investing/how-to-buy-a-home-and-make-money-as-a-millennial/ - Categories: Real estate investing There’s a reason a record-low number of young adults think buying a home is a sound investment. The vast majority of millennial don’t understand the potential for returns on a property investment. They don’t realize they could make consistent income from renting out an owned home, or the profits that can come from selling a home when the market is hot. If you’ve been considering joining the market for a property purchase as someone under the age of 38, now is the time. Here’s how to make real money as a millennial property investor. Stop Renting – Start Owning It comes as a surprise to many young people that buying a home can actually be cheaper than renting – both in the short-term and long-term. Eighty-six percent of millennial homeowners say it’s more affordable than renting. Monthly payments in the form of a mortgage agreement are typically cheaper than the average rental rates, saving you money month to month. Over the years, owning a home will give you an asset you can sell or rent later. You don’t get anything out of renting other than a roof over your head. The sooner you choose to own your home rather than rent, the better for your future financial stability. Work With a Professional Buying a home is not the time to skimp on professional assistance. Unless you have experience in real estate, you need to work with certain professionals to ensure a successful investment. Hire a financial planner to start the process of budgeting for a new home. A financial planner will analyze different investment opportunities, help you save for a down payment, and help you understand the benefits of buying a home. Next, partner with a real estate agent. A realtor is the key to easily finding a property that fits your wish list and budget. A realtor can also be instrumental in the all-important task of bidding on the home you like. Without a skilled negotiator advocating for you, you could end up paying too much for a property – or losing out on one you’ve fallen in love with to a more aggressive bidder. Arm yourself with experienced professionals to make the home-buying experience easy, stress-free, and rewarding. Don’t Neglect Property Maintenance Property maintenance is key to maximizing the returns on your real estate investment. In today’s DIY-friendly world, it can be tempting to fix property problems yourself to save money. Realize, however, that inexperienced repairs could actually cost more than it saves you in the long run. Patching a leaky pipe on your own, for example, could result in a burst pipe and a flood that costs you thousands of dollars to repair. Hiring a professional to fix a leaky pipe would be a modest investment by comparison. Start your investment portfolio on the right foot by combining property maintenance with smart, modern technology. Contact Home365 today and enjoy personalized, affordable maintenance solutions you can trust. Home365 uses patented artificial intelligence algorithms and an enormous database of past home improvement transactions in your region to come up with all inclusive Property Management solution. Make the most of being a millennial investor with help from Home365. --- > Daniel Shaked, CEO Home365 in his podcast with Alex Oseneko of Fourandhalf.com discuss what is property maintenance as a service and more. Click here - Published: 2018-11-27 - Modified: 2023-10-23 - URL: https://www.home365.co/renovation-and-maintenance/what-is-property-maintenance-as-a-service-a-podcast-that-explains-it-all/ - Categories: Property Maintenance, Renovation and Maintenance Daniel Shaked, CEO Home365 in his podcast with Alex Oseneko of Fourandhalf. com discuss a range of topics, from how Property managers can grow their business to the future of connected homes. A masterclass on how Home365 attempting to solve all this and more with AI and Automation.   --- > The best way to reap all the potential rewards of working with a manager is to follow a few tips and tricks from the pros at Home365. Click here - Published: 2018-11-20 - Modified: 2023-04-11 - URL: https://www.home365.co/general-knowledge/property-management/5-tips-for-managing-your-property-manager/ - Categories: Property management “Managing a property manager” may seem counterintuitive – until you hire one of your own. Rather than managing your tenants or property, you can spend all of your time focusing solely on the manager. Even the greatest property managers need ideas and input from you, the property owner. You should have final say in everything your property manager does, especially if it will affect your building or its tenants. The best way to reap all the potential rewards of working with a manager is to follow a few tips and tricks from the pros at Home365. Be Straightforward About Your Needs Different property managers have different strengths. The best way to find the perfect one for you is to be honest and upfront about your concerns. If you want to avoid deferred maintenance, for example, say this during your first conversation with a potential property manager. Your property manager needs to have systems, processes, and resources to address your unique needs. The only way to ensure this is to state your needs outright, before you sign a contract. Communicate Often and Openly Don’t believe anyone who says you don’t need to communicate with your property manager. The opposite is true. Communication is key for a successful owner-manager partnership. Your property manager should have no qualms about discussing your property with you, bouncing ideas back and forth, taking requests, and talking openly with you about your property. Make sure your choice keeps the phone lines open for its clients around the clock in case of maintenance emergencies. Request Reports One way to get the most out of your property manager is to stay in the loop with what’s going on with your tenants and building. Request reports from your property manager regarding property inspections, maintenance, repairs, tenant complaints, late rent, eviction notices, pest problems, etc. Your property manager should be able to produce official reports or write-ups of what’s going on at your property upon request. Don’t Micromanage Although property management takes a team effort between you and the manager you hire, that doesn’t mean you should keep your hands in all aspects of the business. Let your manager do his or her job – the job you’re paying for. Try not to micromanage your property manager, controlling every little decision he or she makes. This defeats the purpose of the property manager, wastes your time and money, and can interfere with the rewards you might have otherwise reaped from the manager. Home365 disrupts Property Management space! Our unique model offers property owners full predictability of their investment performance, peace of mind, and a passive investment experience while lowering the costs of ownership and providing a superior user experience for tenants and landlords alike. Contact us today! --- > Property Owners: Don’t Let These 6 Maintenance Issues Surprise You. Property repairs aren’t the type of surprises any owner wants to experience. Click here - Published: 2018-11-17 - Modified: 2023-03-14 - URL: https://www.home365.co/renovation-and-maintenance/property-owners-dont-let-these-6-maintenance-issues-surprise-you/ - Categories: Property Maintenance, Renovation and Maintenance Not all surprises are good. Property repairs aren’t the type of surprises any owner wants to experience. Repair and maintenance (R&M), however, doesn’t have to be a headache. The more proactive you are about R&M, the easier it will be. Using a maintenance plan like Home365 for tailored maintenance services that can keep your investment in tip-top shape. Home365 can protect you from the following unwelcome R&M issues.   1) Mold Growth Mold in your home isn’t just an eyesore – it’s a health hazard. Mold and mildew spores present in the environment can cause respiratory problems, allergies, itchy eyes, and more. Mold growth can happen if property elements trap and hold moisture, such as peeling roof shingles or old siding. It’s possible to prevent mold growth with regular home inspections and repairs of problems such as leaky pipes.   2) Roof Leak Roof leaks are more common than many property owners think. Even a small leak can cause big problems. A roof may leak if the shingles, flashing, or insulation gets a hole or crack that lets in rainwater from outside. A leaky roof can turn into water damage, wood rot, mold growth, and flooding. Hire a contractor to inspect your roof regularly for signs of wear, damage, and leaks. Preventive maintenance is the best way to prevent a roof leak.   3) Bug Infestation Pest problems can arise in dirty and unsanitary premises, but insects can also infiltrate clean homes if they have a way inside. Tiny holes and cracks in windows, doors, flooring, roofing, etc. can be just enough to invite roaches, bedbugs, termites, ants, and other common pests inside. These can be expensive problems as a property owner. Prevent them by staying on top of home maintenance and cleaning.   4) Plumbing Problem Your plumbing system is complex and can experience a wide range of issues. The most common are drain clogs, leaky pipes, and dripping faucets. When one thing goes wrong in plumbing, it often causes a chain reaction throughout the system. Plumbing maintenance is key to affordable repairs and maintenance. Failing to schedule plumbing maintenance is asking for a major system breakdown in the future. Stick to a set inspection schedule to prevent plumbing problems.   5) Appliance Breakdown An appliance breakdown is a major inconvenience for home occupants – and often a major expense for the property owner. Malfunctioning HVAC systems, water heaters, washer/dryers, dishwashers, and garbage disposals can interrupt the comfort and functionality of the home. The best way to ensure the long and efficient life of a home appliance is with regular cleanings. Most appliances require occasional cleanings and minor repairs to operate at full capacity. Neglecting maintenance can often cause appliances to experience problems and clunk out before their expected replacement dates.   6) Structural Damage Over time, lax property maintenance can culminate in larger, sometimes irreversible property damage. Structural damage from a persistent water leak, for example, could require a complete replacement of the home’s major beams or framework. Structural damage is dangerous and expensive. It’s also 100% preventable with proper maintenance. Investing in property maintenance is the answer to avoiding all the most common and damaging problems as a homeowner.   We make renting out more profitable, predictable and hassle-free with Home365. Contact us today. --- > How can you stay safe when hiring a contractor? These four red flags are signs that your contractor might be sketchy – and you should find someone else. - Published: 2018-11-14 - Modified: 2023-03-14 - URL: https://www.home365.co/general-knowledge/4-red-flags-that-signal-a-sketchy-contractor/ - Categories: General Knowledge You want a contractor who is trustworthy, skilled, and hardworking to perform repairs on your property or install new features. Many contractors get into this business because they are talented at their profession and want to help people who might not know how to fix a plumbing issue or install window insulation. Some contractors, though, aren’t as credible as others. All industries have their share of bad businesses, but these contractors are known to scam property owners out of hundreds or even thousands of dollars for repairs they don’t need. These contractors may be unresponsive to calls or emails, and the repairs and installations they’ve made might fall apart within days.   How can you stay safe when hiring a contractor? These four red flags are signs that your contractor might be sketchy – and you should find someone else.   1. Aversion to Contracts Never trust a contractor who doesn’t offer you a contract or refuses to sign one. A sketchy contractor likes to make verbal agreements and promises, because these agreements aren’t legally binding. Contracts are legally binding, so scammers know they won’t be able to get away with price-hiking or poor construction practices without facing legal action. Always make sure your contractor signs a contract.   2. Significantly Lower Prices Than Competitors A cheap contractor doesn’t always mean he or she provides the best value. If a contractor offers you a significantly lower price than competitors, he or she may be using cheap materials, cutting corners, or tacking on unexpected surcharges after the initial consultation.   Cheap materials and lazy installation practices mean the repair or installation will need more repairs. Save yourself time and money by hiring a contractor who offers services at a rate like competitors.   3. Poor Communication Skills Contractors should be prompt and professional in all communications. If a contractor refuses to meet in person and only takes phone calls, it's a sign he or she is not qualified to perform the job – the project needs to be seen to be properly priced.   If a contractor avoids or refuses to answer your questions, it is a sign he or she doesn’t have the technical knowledge necessary to perform the job. A contractor who is consistently late to meetings or appointments signals a person who lacks proper time-management skills. Your project might not finish on time, because many contractors charge by the hour.   4. Up-Front Payments Some major repairs and installations are pricey and will take a long time to complete. It is common for a contractor to accept a down payment along with payment installations while the project is ongoing.   Find a new contractor if yours refuses to accept a down payment or create a payment plan and demands upfront payment. Paying everything upfront is extremely risky – it is very easy for a contractor to take your money and run. Always ask for a down payment option or pay a portion of the money upfront, saving the rest of the payment until the job is complete.   Home365’s property management only works with top professionals in your area to have all your maintenance needs met in a timely, affordable, and efficient manner.   Learn more about Home365’s OneRate plan.   --- > Deferring property maintenance may seem like an easy way to create room in your budget, in reality it’s a common & potentially serious mistake. Read more! - Published: 2018-10-31 - Modified: 2023-03-14 - URL: https://www.home365.co/renovation-and-maintenance/dont-let-deferred-maintenance-be-the-downfall-of-your-investment/ - Categories: Property Maintenance, Renovation and Maintenance   When money is tight as a homeowner or real estate investor, property maintenance can be the first “elastic” expense to fall off the budget list. Putting off maintenance, however, could end up costing you more than keeping up with a regular repair schedule. Deferred maintenance (DM) refers to maintenance that is overdue or postponed until the property owner has funds. Deferring property maintenance might seem like a quick way to create more room in your budget, when in reality it’s a common and potentially serious mistake. Avoid and address DM with the following tips to safeguard your investment.   The True Cost of Deferred Maintenance You must understand the problem before you can come up with a solution. Deferred maintenance is the bad habit of falling behind with property maintenance, either planned or unplanned, to help a future budget cycle or due to gaps in your current available funds. Deferring maintenance is generally a precursor to a property’s physical deterioration, degradation, and the probability of asset failure. DM can cause decreased reliability, loss of system performance, increased frequency of breakdowns and repairs, tenant discomfort, aesthetic losses, diminished appliance life, increased ownership risk, and collateral damage.   Deferring maintenance doesn’t add to your profitability as a real estate owner. It simply leads to catch-up costs in the future. DM often doesn’t equal just what you would have spent on maintenance initially. Like interest on a loan, the actual price of deferred maintenance can snowball into much higher than the original price. Not only will you have to pay catch-up costs on the maintenance you missed – you will likely encounter property problems you would not have had with regular maintenance.   Some of the most common property repairs necessary after slacking on maintenance include plumbing repairs, leak repair, HVAC system cleaning, and exterior property fixes. Many systems in a standard home can’t function properly without regular inspections, cleanings, and minor repairs. Deferring maintenance can lead to clogged or burst pipes, appliance breakdowns, roof leaks, and other major and expensive property problems. In this way, DM can cost homeowners considerably more than staying on top of maintenance from the start.   How to Prevent Deferred Maintenance Prevention is better than cure when it comes to deferring maintenance on properties you own. If you find yourself in a profit pickle, don’t choose maintenance as the first thing to go. Remind yourself that backlogged maintenance will end up costing you more – sometimes considerably more – in the long run. Instead, find funding for maintenance by solving problems relating to an inadequate budget.   Create a prioritization system that helps you balance the various needs of your property. Keep maintenance problems on your list of necessities, not luxury costs. List your critical needs, such as safety issues, first. Structural corrections might be the most expensive, but they’re the issues that can cost you thousands later if you defer them. Put projects like renovations lower down on the list, getting to them when you have the budget. Work with a professional contractor if you aren’t sure which maintenance tasks are high-priority.   Make regular property maintenance easy and affordable through a property management solution like Home365, which uses customer data and smart technology to keep track of property maintenance needs according to your budget. Home365 can help you understand your home repair projects, connect with cost-effective professionals in your area, and stay on top of home maintenance without breaking the bank. We can make deferred maintenance prevention rewarding and hassle-free.   --- > Learning a few facts about roofs can help you take proper care of your roof as a homeowner. Here are four roofing facts you probably didn’t know. - Published: 2018-10-19 - Modified: 2023-09-29 - URL: https://www.home365.co/renovation-and-maintenance/4-roofing-facts-and-statistics-that-may-surprise-you/ - Categories: Property Maintenance, Renovation and Maintenance You know the roof is important, but is that the extent of your roofing system knowledge? Roofing systems are complex and intricate, with many moving pieces. The more you know about this essential property feature, the better you can maintain your investment. Learning a few facts about roofs and roofing processes can help you take proper care of your roof as a homeowner. Here are four roofing facts you probably didn’t know. A New Roof Can Return More Than 85% of Its Cost Upon Resale The resale value of investing in a new roof can be immense. It is one of the best home improvement investments if you plan on selling your home. Potential buyers are willing to pay much more for a home with a new roof, since they know they won’t have to pay thousands of dollars in the near future on roof replacement and potential property damage repairs. According to some authorities, a replacement roof can yield 85% or more of its investment costs back upon resale.  Some owners can make 100% or more of the costs of a new roof up in a better sale price. Roof replacement is the exterior home project that appeals to buyers the most. Keep this in mind if you’re worried about the initial costs of installing a new roof. Energy-Efficient Roofs Can Save Thousands of Dollars According to ENERGY STAR, a certified energy-efficient “cool roof” can save the average homeowner thousands of dollars in heating and cooling costs over the lifespan of the roof. An energy-efficient roof reflects most of the sun’s ultraviolet rays, lowering roof surface temperature by up to 50 degrees Fahrenheit. This, in turn, cools the entire home, saving on home heating costs. Cool roofs can also reduce peak cooling demand by 10 to 15% through better insulation from the heat. Estimate the exact amount you could save by switching to a cool roof using the Oak Ridge National Lab Roof Savings Calculator. Roofing Material Matters for ROI You might not realize there are several different roofing materials available for residential and commercial properties. Standard asphalt shingles are just one of many options. The material you choose matters in terms of how much you can get back for your roofing investment. Modern materials and roofing technologies can provide better energy efficiency, wear and tear resistance, and longer lifespan than older roofing systems. Choose from asphalt, fiberglass, wood, organic, three-tab, or laminate shingles; tiles; slate roofing; or metal roofs. An experienced contractor can break down the cost vs. return on investment (ROI) of each roofing material for your building. A smart roofing material choice could save you money down the road on energy costs, repairs, and roofing replacement. The longer your roof lasts, the better your ROI. Your Location Can Affect Your Roof It’s important to hire a local roofing contractor with plenty of first-hand experience handling roofs in your specific area. Your location, climate, and environment can impact the performance of your roof. In a humid climate, for example, your roof could be more prone to algae growth and moisture-related shingle damage. In a sunny environment, you’ll have more trouble with discoloration and heat absorption. For variety of issues such as roof maintenance check out the subscription plan offered by Home365.  For one flat monthly flat fee, we make renting out more profitable, predictable and hassle-free. --- > Owning a rental property can be an extremely rewarding investment. The following are proven tips to help you turn a profit with rental properties. - Published: 2018-10-11 - Modified: 2023-03-14 - URL: https://www.home365.co/general-knowledge/5-ways-to-maximize-rental-property-income/ - Categories: General Knowledge Owning a rental property can be an extremely rewarding investment. With poor management, however, it can quickly turn into a money pit. It’s critical to stay on top of your investment with a solid management strategy. Landlords before you have paved the way, finding methods to maximize rental property income and improve returns on investment (ROI). The following are proven tips to help you turn a profit with rental properties. Hire a Great Property Manager Don’t have time to double as both the owner and property manager? Leave this job to the professionals for better results. Hiring a property manager takes the pressure off owners, so they can focus on other jobs or investments. A great property manager can help you price rentals optimally, market the property, and stay on top of repairs and upkeep. If you don’t have the resources to outsource a property manager, take care of these tasks more easily on your own with help from reliable management services. Choose Your Tenants Wisely The wrong tenant can refuse to pay rent on time, move out prematurely, damage your property, make other tenants feel unsafe, waste resources (if you pay for utilities), and diminish the value of your investment – not to mention he or she can be a headache to deal with and evict. Choose your tenants carefully, spending the time to conduct proper background and criminal history checks. Look into each applicant’s rental history for red flags such as prior evictions. Being selective in your choice of tenants can do wonders for property profitability. Treat Your Investment Like a Business Remember that owning and operating a successful rental property is a business. Treat it as such. Don’t mix your rental property with pleasure – letting your friends rent from you for cheap, for example. Soon enough, these practices can sink your investment. You won’t have enough income to cover property maintenance and other important tasks. You might also feel uncomfortable being assertive with friends who rent from you. Forgetting your rental property is a business can be a major drain on ROI. Pay for High-Quality Repairs Prioritize high-quality property repairs and installations from the very beginning. It may be tempting to DIY property work or hire a friend to save money on repairs, but this will only cost you more in the future. From day one, only allow qualified and licensed contractors to work on your rental property. This is the only way to ensure the quality, performance, and longevity of the property’s systems, equipment, and appliances. Starting off with high-quality from the start can help you avoid pitfalls like appliance breakdowns in the future. Invest in Maintenance Maintenance and repairs go hand-in-hand. To make the most out of a rental property investment, you absolutely must schedule regular maintenance. A rental property will only enjoy long-term profitability if tenants are safe and happy, and if the building is structurally sound and up to code. Check off all of these boxes and keep your property operating at maximum efficiency with routine maintenance services. Home365 can help you stay on top of rising and changing maintenance demands as a rental property owner. --- > Curious how to earn the most money as a rental property owner? The secret is in property maintenance. Click here to get more information - Published: 2018-10-05 - Modified: 2023-09-29 - URL: https://www.home365.co/renovation-and-maintenance/how-poor-property-maintenance-can-lower-your-rental-income/ - Categories: Property Maintenance, Renovation and Maintenance Curious how to earn the most money as a rental property owner? The secret is in property maintenance. Every dollar you spend on repair and maintenance (R&M) can come back to you in the form of breakdown prevention, occupant comfort, and property value. Investing in proper maintenance is the smartest and simplest way to get the most bang for your buck as someone who rents out homes or apartments to tenants. Master maintenance with tips from the experts at Home365!   Deferred Maintenance Can Cause Expensive Repairs Deferred maintenance is a common strategy for property owners who don’t have the funds for constant upkeep. Deferred maintenance, however, can be a major risk. Putting off property maintenance and repairs can negatively impact the performance and functionality of your assets. You might run into significant problems you wouldn’t have with regular maintenance, such as a roof leak, structural damage, mold growth, or pest infestation.   Paying for simple maintenance tasks can actually save you money in the long-term. You might be paying for jobs and services more regularly, but you’re avoiding the hefty price tag of serious emergency repairs and replacements. For example, roof maintenance and repair can cost a few hundred dollars every now and then, but waiting too long to fix a roof problem could result in substantial wood damage and thousands of dollars in structural repair and roof replacement. The expensive repairs can eat into your rental income.   Poor Property Management = Unhappy Tenants An important reason not to shirk property maintenance is to keep your tenants and home occupants happy. Ignoring tenant complaints and repair requests can ultimately impact how much people are willing to spend on the rental, as well as how long they want to stay. High turnover can cost you much more than keeping a steady, long-term tenant happy. Investing in regular maintenance can make sure you fulfill the needs of your tenants as a good property manager.   Tenant happiness shouldn’t be your only priority, however. You must also think about their safety. Poor property maintenance could cost you big if a defect causes someone else an injury. If you ignore a staircase that’s in need of repairs, for instance, you could be liable to pay for damages if a tenant trips and falls down the stairs. A lawsuit could cost you thousands of dollars and your reputation as a landlord – ultimately translating into lower rental income.   Boost Your Reputation as a Landlord With Excellent R&M Speaking of landlord reputation, how important is the way people see you and your building? Very, if you’re in need of high-quality and reliable tenants. It doesn’t take long for issues like a roof leak, bedbugs, or delayed appliance repairs to spread throughout a community. A bad image as a landlord and property manager could make it more difficult to find good tenants in the future. It’s better to invest money in property maintenance now rather than lose big on rental opportunities in the future.   Repair and maintenance are key to getting returns on a rental investment. R&M can be easy with a sophisticated system telling you when and how to get things fixed. Home365 can help owners feel confident in their property maintenance around the clock. It’s a simple, affordable, and effective solution that can optimize rental income through top-notch R&M services. Find out how we can help you – contact Home365 today. --- > Property owners will get what they put in when it comes to repair and maintenance. The more you invest in your building, the better your return. Read more! - Published: 2018-09-25 - Modified: 2023-05-17 - URL: https://www.home365.co/renovation-and-maintenance/why-invest-in-repair-and-maintenance-rm-as-a-property-owner/ - Categories: Property Maintenance, Renovation and Maintenance Property owners will get what they put in when it comes to repair and maintenance (R&M). The more you invest in preventive maintenance and high-quality repairs on your building, the better your returns on investment (ROI) will be. Owning a building comes with a responsibility for the safety of its occupants.  Investing in proper R&M can help you keep your tenants happy, prevent premises-related accidents, avoid expensive equipment breakdowns, and save money in other ways. Before you discredit R&M as “too expensive,” consider its potential returns. Tax Breaks and Deductions The federal government encourages property owners to keep up with R&M by offering attractive tax deductions on many types of services. The majority of expenses associated with rental property income are tax deductible.  This includes major projects like roof replacements and interior/exterior paint jobs. As a rental property owner, you can deduct operating expenses, repairs, property taxes, mortgage interest, and depreciation. All R&M and related supplies and materials you need to keep the property in good operating condition are tax-deductible. Major Savings on Future Repairs One of the most attractive reasons to invest in R&M is to avoid and prevent much more costly repairs in the future. Roofing systems, gutters, plumbing, water heaters, HVAC, electrical components, and other main elements of a home need regular maintenance to operate at full capacity. Otherwise, they’re prone to problems and breakdowns, like roof leaks or burst water pipes. If you wait too long to schedule maintenance and repairs, you could have an extremely expensive problem on your hands – one that could damage property and even injure tenants. Longer Appliance Lifespans A new roof or HVAC system isn’t cheap. Don’t you want to maximize the lifespan of these expensive appliances, if you can? A consistent R&M schedule means regular appliance inspections, cleanings, and minor repairs to keep them operating at maximum efficiency. This means not only saving money on monthly utility bills, but getting the most years out of your investment. Paying for R&M really saves you the costs of replacing equipment and property features before their time. Tenant Accident and Injury Prevention A premises liability lawsuit could cost you thousands. Paying for a tenant’s medical expenses, property damage, lost wages, pain and suffering, and potential punitive damages could run you out of business. It is your legal responsibility as a property owner to reasonably prevent tenant injuries. You must do so by scheduling regular property inspections, repairs, and maintenance to avoid risks such as trip and fall hazards and gas leaks. R&M not only fulfills your legal duty to tenants, but it can save you considerable money in accidents, property repairs, and lawsuits. Higher Property Values R&M can increase the overall value of the properties you own. Keeping a property and all of its appliances in proper working condition can maximize the value of the land and building, rather than diminishing it by allowing the property to fall into a state of disrepair. If you ever want to sell your property, regular upkeep and improvements can mean a much higher listing price. Property improvements can also translate into higher rents and better residents – all of which can increase your bottom line. Property management and maintenance looks different today than it did 10 years ago. Today, the most profitable management makes use of customer data to tailor plans and strategies specifically for each person. Technology-centered property management companies are here to stay and Home365’s is leading the category. --- > Repair and maintenance costs are inevitable as a property owner. These costs don’t have to run your investment into the ground. Here’s what you should know - Published: 2018-09-14 - Modified: 2023-04-11 - URL: https://www.home365.co/renovation-and-maintenance/cost-vs-roi-of-property-repair-and-maintenance-rm/ - Categories: Property Maintenance, Renovation and Maintenance Repair and maintenance (R&M) costs are inevitable as a property owner. These costs, however, don’t have to run your investment into the ground. Property owners can make R&M work to their advantage. Knowing the actual cost of your property R&M can help you draw the line between profit and loss. High-quality repairs and regular maintenance can enhance the value of your property and prevent more expensive problems from arising. Here’s what you should know about R&M – in real numbers. Record R&M Expenses Accurately Learning the real numbers behind your property repair and maintenance costs starts with keeping accurate records. It’s up to you as the property owner to keep track of when you schedule repairs and how much you pay. Determining how often to pay for preventive maintenance can help you avoid bigger problems down the road. A common rule for preventive maintenance is a 6:1 ratio with repairs – you should have about six preventive maintenance appointments for every corrective repair your property needs. Despite R&M being an expense, it won’t always go on your income statement. The type of R&M and how it affects your asset could make it go to the balance sheet instead of on your list of expenses. If R&M increases the useful life of your property, boosts the efficiency of the unit (i. e. a repaired air conditioner performs better than it did before), or the quality of the units the asset produces improves, you can list R&M on your balance sheet instead of as an expense. In general, some R&M will go on your balance sheet while others will go on your income statement. Calculate Your Real R&M Costs Once you accurately record your repair and maintenance costs, you can calculate exactly how much you’re spending on R&M. First, record the exact amount of the service. Don’t forget to include the costs of all materials, labor, taxes, and fees. Write down the entire amount of the construction service. Then, deduct your potential savings opportunities, such as tax deductions. Roof repairs, parking lot resurfacing, door and window replacement, floor resurfacing, interior/exterior painting, rekeying locks, and replacing lighting are all deductible costs. For the most part, if you repair parts of the buildings you own, you can deduct these immediately. This is true if they are, in nature, revenue. If you improve, restore, or adapt your property, you must capitalize and depreciate it. Determining which expenses fall under R&M can be difficult. In general, if repairs result in the renewal of the property, it’s not technically R&M. However, costs to repair or maintain property are R&M. Work with a tax professional to find out the full impact of your R&M on taxes. Determine Your ROI on R&M Once you have a list of R&M expenses minus applicable tax deductions, calculate the potential returns you will get from your maintenance investment. Preventive maintenance can have significant economic value. Sum up the value of the equipment that received R&M, estimating the costs you saved from not needing expensive repairs or early equipment replacement. You can calculate the returns on investment (ROI) of investing in R&M by figuring out the degradation rate of your equipment with and without maintenance. R&M can save property owners thousands of dollars over the lifetime of a property structure or piece of equipment – especially with a trusted maintenance provider. Don’t be afraid of the “costs” of repairing and maintaining your property. Learn more about how Home365 OneRate all-inclusive pricing where property maintenance is included with property management. --- --- ## Properties - Published: 2022-01-11 - Modified: 2022-09-14 - URL: https://www.home365.co/properties/occupied-condo-w-high-return-2/ - Category: Las Vegas NV Upgraded condo! ! Repair coverage and rent guarantee from day 1! Affordable investment! Large 2 bedroom condo! Tenant due for increase. Current rent $1050 ... Rental comps at $1300/mo --- > A charming single story property in highly desirable area!! 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MOVE IN READY OR UPGRADE FOR HIGHER CAP RATES. --- > Beautiful home in a desirable location. Contact Home365, a Property Management Company That Deals With Residential And Commercial Management. Click Here - Published: 2021-09-03 - Modified: 2022-02-09 - URL: https://www.home365.co/properties/spring-valley-property-with-a-pool/ - Category: Las Vegas NV DESIRABLE LOCATION BEAUTIFUL BACK YARD WITH GRASS AND PINE TREES, AND A GORGEOUS POOL NO HOA MUST SEE! --- > Stunning property completeley renovated in Las Vegas. For more information on the property, contact Home365. Click Here For Info - Published: 2021-08-26 - Modified: 2022-02-09 - URL: https://www.home365.co/properties/under-contract-3/ - Category: Las Vegas NV STUNNING PROPERTY COMPLETELY RENOVATED! Open floor plan, located at the end of a Cul-de-sac. Vaulted ceilings throughout Custom cabinetry, large kitchen with extra space with stainless steel appliances, double oven, granite countertops and an island. Custom flooring, tile and laminate. This home IS AS GOOD AS ITS GETS! Updated rails, showers, wall stone, it has it all! Master bedroom located downstairs, separate from other bedrooms w/ 2 walk-in closets and patio door leading to the large backyard. Pool, spa, and a covered patio. Must See! --- > Home365 Is a Property Management Company In NV that Deals With Both Residential And Commercial Management To Save You The hassle. Click Here For Info - Published: 2021-08-26 - Modified: 2022-02-09 - URL: https://www.home365.co/properties/under-contract-4/ - Category: Las Vegas NV Investment! --- > Home365 Is a Property Management Company In Las Vegas that Deals With Both Residential And Commercial Management To Save You The hassle. Click Here For Info - Published: 2021-08-26 - Modified: 2022-09-14 - URL: https://www.home365.co/properties/under-contract-5/ - Category: Las Vegas NV Very nice upstairs condo Laminate flooring Pool and amenities Gated Community --- > Fully renovated home for sale through Home365. A Property Management Company In NV. Click Here For Information on the property - Published: 2021-08-26 - Modified: 2022-02-09 - URL: https://www.home365.co/properties/under-contract-6/ - Category: Las Vegas NV Wow! Wow! Wow! HEART of Summerlin! Fully renovated home. STUNNING custom kitchen. Granite counter tops with waterfall island , stainless appliances, custom tile flooring, and laminate throughout. BEAUTIFUL back yard with pool, spa, and covered porch that is great for entertaining! MOVE-IN READY! ! --- > Stunning Guard Gated Strip Unit at the LuxuriosS Boca Raton from Home365. For more information on the property, Click Here - Published: 2021-08-26 - Modified: 2022-09-14 - URL: https://www.home365.co/properties/under-contract-7/ - Category: Las Vegas NV STUNNING GUARD GATED STRIP UNIT AT THE LUXURIOUS BOCA RATON ! ! ! FANTASTIC OPEN FLOOR-PLAN 2 LEVELS WITH 2 MASTER BEDROOMS. KITCHEN HAS GRANITE COUNTERTOPS AND STAINLESS STEEL APPLIANCES. GORGEOUS BUILT INN BOOKCASE FOR A COZY LIVING AREA. TILE AND HARDWOOD FLOORING THROUGHOUT AND A PATIO! RESORT STYLE POOL, SPAS, GYM, THEATRE, 24 HR SECURITY, CONCIERGE. PRIME SOUTH STRIP LOCATION AND MINUTES TO RAIDERS STADIUM! --- > Home365 sold this great property and the next one can be yours! Home365 Is a Property Management Company That Saves You The hassle. Click Here For Info - Published: 2021-08-26 - Modified: 2022-02-09 - URL: https://www.home365.co/properties/under-contract-8/ - Category: Las Vegas NV Nice-Open Floor Plan. Vaulted ceilings. Small back yard with patio. Gated Community. Community Pool, Park, BBQ, and Basketball Area. Move Right In! --- > Updated single story in Las Vegas. Contact Home365, a Property Management Company That Saves You The hassle. Click Here For Info - Published: 2021-08-25 - Modified: 2022-02-09 - URL: https://www.home365.co/properties/under-contract-2/ - Category: Las Vegas NV Updated single story Open floor plan with Vaulted ceilings Remodeled showers Corner lot Very large backyard 2 Storage units RV parking Newer roof Solar energy with net metering --- > Beautiful Single story home at the Vistas in Summerlin.Click here to contact Home365, a Property Management Company, for more info on the property - Published: 2021-08-24 - Modified: 2022-09-14 - URL: https://www.home365.co/properties/vistas-in-summerlin/ - Category: Las Vegas NV Beautiful Single story home at the Vistas in Summerlin. Open floor plan, Natural lighting, Tile & wood flooring. Large Kitchen with granite counters, island & stainless steel appliances. Large bedrooms, walk-in closet, glass shower & tub separate and double sinks in master bathroom. Crown molding and ceiling fans. French doors and many more upgrades. Sparkling pool in the back with covered patio and ceiling fan. Two car garage with cabinets and a Tesla connection. 3kw solar panels Paid Off lowering electricity bill down to minimum. Must See! --- > A wonderful home in Las Vegas, for more information on the property contact Home365. A Property Management Company. Click Here For Info - Published: 2021-08-24 - Modified: 2022-02-09 - URL: https://www.home365.co/properties/under-contract/ - Category: Las Vegas NV Newport Cove Wonderful home. Centrally located. 2nd Floor facing the community pool. Bright and open floor plan with fireplace. 2 balconies and wood laminate flooring. --- > Full of Upgrades in a gated community in South West from Home365. For more information on the property and the Management compaby, click here - Published: 2021-08-24 - Modified: 2022-09-14 - URL: https://www.home365.co/properties/absolutely-exquisite-home/ - Category: Las Vegas NV Full of Upgrades in a gated community in South West! Gorgeous Kitchen with Quartz Counters and Subway Tile Custom Cabinets and Sink, Wolf Range and Stainless Appliances, Beautiful Vinyl Flooring Throughout, Upgraded Marble Counters and Specialty Sinks in all Bathrooms Along with a Modern Freestanding Tub and Marble Shower in the Master Bath, Sunroom Beautiful and private Backyard w/ a Pool and much more. Must See! ! ! ! ! --- > Beautiful corner lot home in desirable Green Valley Ranch for sale through Home365. Click Here For Information on this lovely property - Published: 2021-08-23 - Modified: 2022-02-09 - URL: https://www.home365.co/properties/henderson-home-3728-with-a-pool/ - Category: Henderson NV Beautiful corner lot home in desirable Green Valley Ranch! ! ! ! Open-concept great room, Open kitchen/Island & Breakfast Bar Formal dining room Ceiling fans throughout. Back yard features a beautiful pool, hot tub, built in BBQ and a covered patio. MUST SEE! ! --- > Beautiful home with tons of amenities that is a must to see!! Click Here to Contact Home365 For Information on the property - Published: 2021-08-23 - Modified: 2022-09-14 - URL: https://www.home365.co/properties/beautiful-home-with-tons-of-amenities/ - Category: Las Vegas NV New laminate flooring and new paint Beautiful back yard with pool and rv space A must see! ! --- > Split level home in Las Vegas. For more information on the property, contact Home365, A Property Management Company. Click here - Published: 2021-08-18 - Modified: 2022-09-14 - URL: https://www.home365.co/properties/split-level-home-with-views/ - Category: Las Vegas NV 3 bedroom split level home with master upstairs! Open concept living with oversized kitchen! ! Tile and laminate floor throughout! Balcony has views of mountains and Las Vegas Strip! Huge master with separate shower and tub! Large 2nd/3rd bedrooms! A Must See! --- > Ranch style home over one acre with Home365. A Property Management Company That Saves You The hassle. Click Here For Info - Published: 2021-08-16 - Modified: 2022-02-09 - URL: https://www.home365.co/properties/horse-property-with-tenant/ - Category: Las Vegas NV RANCH STYLE HOME OVER 1 ACRE ZONED FOR HORSES, PRIME NORTHWEST PROPERTY ONE STORY 3 BEDROOM OPEN LAYOUT HORSE AMENITIES INCLUDING STALLS- SHADES - COVERED WASH AREA- TACK ROOMS- CONVEYOR BELTING TO KEEP SAND INSIDE- * 1200 Sq Ft WORK SHOP / STORAGE * NICE BACK YARD WITH GRASS AND PINE TREES, PLENTY OF ROOM FOR RV PARKING & TOYS PROPERTY HAS ROOM FOR ADDT'L DEVELOPMENT LIKE GUEST HOUSE NO HOA* DOUBLE TANK WELL --- > Beautiful 1 story home for sale from Home365 - A Property Management Company That Saves You The hassle. Click Here For Info - Published: 2021-08-16 - Modified: 2022-09-14 - URL: https://www.home365.co/properties/1-story-home-in-a-desirable-area/ - Category: Las Vegas NV BEAUTIFUL SINGLE STORY HOME 3 BEDROOMS AND 2 FULL BATHS, LOCATED IN SPRING VALLEY, LARGE DESERT LANDSCAPED BACKYARD WITH A TILED PATIO. ALL TILE AND LAMINATE WOOD FLOORS, NO CARPET IN HOUSE. KITCHEN INCLUDES ALL APPLIANCES, FULL SIZE WASHER/DRYER IN LAUNDRY ROOM --- > Condo rental in GA from Home365. A Property Management Company That Deals with Residential And Commercial Management and Save You The hassle. Click Here - Published: 2021-08-12 - Modified: 2022-09-14 - URL: https://www.home365.co/properties/2-bed-2-bath-condo/ - Category: Atlanta GA Condo rental Previously rented for $750/month. Current rent rates for the area are @ $1,000. 00/month. 6. 63% CAP RATE! ! Association rent permit in place. Insurance and water covered with HOA cost. Property is vacant. --- > Home365 Is a Property Management Company that Deals With Residential And Commercial Management To Save You The hassle. 5909 Sutcliff Square - Published: 2021-08-12 - Modified: 2022-09-14 - URL: https://www.home365.co/properties/1-bed-1-bath-condo/ - Category: Atlanta GA Condo rental Current rent rates for the area are @ $550. 00/month. 4. 78% CAP RATE! ! Association rent permit in place. Insurance and water covered with HOA cost. Current tenant in place for 7 years with no plans to leave. Currently month to month since February. Potential to increase the monthly rent. --- > Home365 Is a Property Management Company In GA That Deals With Both Residential And Commercial Management To Save You The hassle. Click Here For Info - Published: 2021-06-26 - Modified: 2022-09-14 - URL: https://www.home365.co/properties/3-bed-2-bath-condo/ - Category: Atlanta GA Condo rental Great tenants in place! Paid all the way through pandemic! Tenant would like to remain in the property. Current rent @ $975. 00/month. 6. 5% CAP RATE! ! Association rent permit in place, renews 2022 and every 2 years. Insurance covered with HOA cost. Tenant would like to stay. --- - Published: 2021-05-26 - Modified: 2022-09-14 - URL: https://www.home365.co/properties/1-story-ranch-house/ - Category: Atlanta GA RARE FIND 1 STORY HOME Great tenants in place! Paid all the way through pandemic! Tenants are month to month. Rent can be raised to market rent of $900/month. Current rent @ $850. 00/month. 6. 8% CAP RATE! ! (Based on current rent) Rare 1 story home! ! 4 sided brick All wood floors Tenant would like to stay. --- > Great tenants in place! Paid all the way through pandemic! what more can you ask for? Click here to Contact Home365 for more info - Published: 2021-05-26 - Modified: 2022-09-14 - URL: https://www.home365.co/properties/3-bedroom-condo/ - Category: Atlanta GA Condo rental Great tenants in place! Paid all the way through pandemic! Tenant would like to remain in the property. Current rent @ $925. 00/month. 6. 5% CAP RATE! ! Association rent permit in place, renews 2022 and every 2 years. Insurance covered with HOA cost. Tenant would like to stay. --- - Published: 2021-04-27 - Modified: 2022-01-25 - URL: https://www.home365.co/properties/upcoming-off-market-listing-2/ - Category: Las Vegas NV Gorgeous Inspriada home comes with upgrades throughout. 4 bedroom home is 3122sqft with premium plank flooring through bottom kitchen features walk in pantry, tons of cabinet space with huge island, stainless steel appliances oversized master bedroom with separate sitting area and master bathroom to die for! --- - Published: 2021-04-19 - Modified: 2022-02-10 - URL: https://www.home365.co/properties/upcoming-off-market-listing/ - Category: Las Vegas NV Great tenants in place! Paid all the way through pandemic! Due for lease renewal with possible rent increase Rare 1 story home! ! Large backyard with covered patio! Vinyl and tile throughout home! --- - Published: 2021-03-19 - Modified: 2022-02-10 - URL: https://www.home365.co/properties/off-market-opportunity/ - Category: Las Vegas NV RENT CAN BE RAISED TO 1250-1350 DEPENDING HOW UPGRADED. Cozy Townhome WITH 2 car garage Sec8 tenant in place currently month to month vacating end of April. Open floor plan! Very well maintained home! ! --- - Published: 2021-03-17 - Modified: 2022-02-10 - URL: https://www.home365.co/properties/vacant-investment-opportunity/ - Category: Las Vegas NV Highly desired 1 story home with pool! This home has tile and laminate flooring throughout (no carpet! Yay! ), spacious living areas and very well maintained all around! Kitchen has granite countertops, stainless steal appliances. NO HOA! ! Great for investment --- - Published: 2021-02-11 - Modified: 2022-09-14 - URL: https://www.home365.co/properties/occupied-townhome/ - Category: Henderson NV Investors dream. Beautiful two story townhome with backyard and 1 car garage attached to home! Section 8 month to month tenant Can ask for higher rents. --- - Published: 2021-02-02 - Modified: 2022-02-10 - URL: https://www.home365.co/properties/cozy-townhome-occupied/ - Category: Las Vegas NV Cozy Townhome WITH 2 car garage Sec8 tenant in place currently month to month. Located next to freeway, schools and shopping. Open floor plan! --- - Published: 2021-01-26 - Modified: 2022-02-10 - URL: https://www.home365.co/properties/remodel-opportunity-for-great-return/ - Category: Las Vegas NV Casita in back needing remodel also! Additional 560 sqft! Sellers redid all plumbing and electric to home with licensed contractors Sold as is with remodel needed and small roof repairs. If remodeled modern, can get up to 1300 rent monthly! ! Market Value Modern is $215k. Home365 Vendors to do remodel if needed! --- - Published: 2021-01-21 - Modified: 2022-02-10 - URL: https://www.home365.co/properties/modernapartment/ - Category: Las Vegas NV Completely rehabbed 2 bed 2 bath condo! ! , Owner spared no expense turning this cozy condo into modern style living home. Features all appliances including washer/dryer and fireplace in living. Tenant in place in active lease ending 4/30/21 with month to month after that! Must have condo! --- - Published: 2021-01-14 - Modified: 2022-09-14 - URL: https://www.home365.co/properties/off-market-occupied-apartment/ - Category: Las Vegas NV Section 8 tenant in place Repair coverage and rent guarantee from day 1! Affordable investment! Large 2 bedroom condo! HIGH CAP RATE! ! ! --- - Published: 2020-12-22 - Modified: 2022-02-09 - URL: https://www.home365.co/properties/henderson-home-opportunity/ - Category: Henderson NV Rare find ONE STORY 3 bedroom home nestled up to Mountains for a breath taking view anytime you please. Property includes hardwood flooring throughout living areas, oversized dining room area/living room, and huge backyard with gorgeous view. Must see property! --- - Published: 2020-12-20 - Modified: 2022-02-10 - URL: https://www.home365.co/properties/guard-gated-condo-off-market-investment-opportunity/ - Category: Las Vegas NV Cozy Condominium 2 bed/1 bath 10 mins from strip! ! Tenant inside currently, came furnished. Cap rate of 7%! ! --- - Published: 2020-12-20 - Modified: 2022-09-14 - URL: https://www.home365.co/properties/remodeledhendersonhome/ - Category: Henderson NV COMPLETELY REMODELED Green Valley home with 5 bedrooms in a Cul- de-Sac location! 100% Modern home features tile throughout Formal living-Dining and family room w/ FP. Large informal dining area with kitchen desk. Full guest quarters down with full bath. Loft upstairs at landing. All walk in closets! All bedrooms are HUGE! Master bedroom has gigantic walk in shower with benches. GREAT CAP RATE OF ALMOST 5% AND SUPER EASY TO RENT --- - Published: 2020-12-16 - Modified: 2022-09-14 - URL: https://www.home365.co/properties/guardgatedcondo/ - Category: Las Vegas NV 24/7 Guard Gated community conveniently located less then 10 mins from Las Vegas Strip! The community offers tons including pool, spa, exercise rooms, clubhouse and much more! This 2nd level unit is 2 large bedrooms and with oversized living room. Kitchen has tons of counter space with super cute breakfast bar and dining area. Can be with or without furniture. --- - Published: 2020-12-16 - Modified: 2022-09-14 - URL: https://www.home365.co/properties/cozy-townhome-gated-community/ - Category: Las Vegas NV PRICE REDUCTION! ! ! ! Spacious Townhome 3 bed/2. 5 bath Close to Shopping & Schools (desirable location! ! ) Open Floor Concept Kitchen with Island Tile and laminate flooring throughout! 2 car garage! High Cap Rate! ! WIN WIN WIN --- - Published: 2020-12-16 - Modified: 2022-09-14 - URL: https://www.home365.co/properties/home-in-gated-community/ - Category: Las Vegas NV Cozy 3 bedroom home in a gated community with community pool and clubhouse. Home Features-- granite counter tops, breakfast bar, tile flooring on main floor, HUGE master with walk in closets. . Oversized lot Long term tenant! ! Great opportunity! Jump on this deal as the price just dropped! ! --- - Published: 2020-12-08 - Modified: 2022-09-14 - URL: https://www.home365.co/properties/3122-brady-ave/ - Category: Las Vegas NV Super cozy large 3 bedroom ONE STORY home! ! Large lot with tons of potential, tile flooring throughout, oversized family room with sitting area. HIGH CAP RATE! ! --- --- ## Locations ---