Making Your Unit the Winning Choice Among the Best Renters
In a recession, the best qualified tenants on paper may be challenged in keeping up with rental payments. This article walks you through the steps you need to take to market your unit so you can win the best quality tenants to weather the recession.
Reassessing Your Eviction Tolerance Levels
As economic challenges continue, many tenants may face unemployment, income disruption or other circumstance that cause them to be in lease violation. In this article, we review Pennsylvania regulations regarding eviction and what you can do to reassess your lease regarding violations that trigger eviction proceedings and what you can do to be better prepared.
Brush up Your Contracts Regarding Service Animals
Every year you should revisit your standard lease and make sure it is up to date. One thing that investors often overlook is their policies regarding pets, in particular service animals. In accordance with the Fair Housing Act, there are laws that protect people with disabilities and their service animals. Review this article to brush up on the laws, particularly those for Pennsylvania, and work with your attorney to make sure you are able to follow the policy set forth by the FHA.
Year-End Lease Housekeeping—Are You Ready?
As we approach the year’s end, a time of celebration and gathering with family and friends, it’s also a good time to take a fresh look at legal documents in preparation for 2023. One of the most important documents as a real estate investor is your tenant lease. In this week’s article, we provide an overview and reminders of what to include in your tenant lease. Use it as a guide to double check and review your leases to make sure they include what you and your attorney agree are best for you and your tenants.
Why it's Time to Rethink Tenant Relations
The relationship you have with your tenant(s) has a direct impact on your cash flow as well as how your property is maintained. Detached property owners can easily lose touch with their tenants if they’re working with a property management company that doesn’t respect the tenant-landlord relationship. In turbulent economic times and with the real estate market shifting, tenants are becoming the “in-control” party and can make or break your cash flow and real estate income strategy. Learn what you can do to reinforce tenant-landlord relations whether you’re working directly with your tenants as a self-managing property owner or through a property management company.
Will Hiring a Property Manager Save You Money?
Although real estate investing can be a hedge against inflation, investors still have to make practical decisions about how they manage their cash flow against outgoing costs when it comes to their properties. In this article, we present the main reasons to outsource your property management as well as things to watch out for when choosing the right property manager, and how it can surprisingly make you money.
Enticing Tenants to Re-Lease Amid Challenging Times
In this week’s article, we talk about how you can entice high-quality tenants to re-lease, even though the costs of renting are becoming more and more challenging for renters. Here are a few things you can think about doing to make your relationships better and work with your tenants to secure their trust in you and want to remain in place.
How to Safeguard Your Investment Property
There are several things you can do to help your property be more appealing to the safety-conscious renter. Many of these simple solutions are subtle, but powerful at helping your tenants feel safe and secure and choose your property over others. Check out these simple ideas that will inspire you or your property management service to safeguard your investment.
How Crime Rates Can Impact Tenant Quality and Property Value
In some markets and cities, crime has been on the increase over the last year. Neighborhoods that used to be peaceful and crime-free have changed. Whether you’re looking to invest in a new property or add to your real estate portfolio, adding a layer of scrutiny around the crime reports as well as how you can improve properties you already have to be more resistant to crime. Tenants rank safety high on their list when they are seeking a new place to live—making sure your property is safe in many ways is what we cover in this article.
Emergency Preparedness for Your Income Property
The most common disasters that impact property are not just Nor’easters, blizzards or hurricanes—they can be from a roof leak, kitchen fire or even a vehicle collision. Disaster can strike from extreme weather, municipal emergencies such as water main breaks or tenant accidents. In this article, we’ve created a list of common income property-related issues that can arise from these types of events. Be a prepared and protect your investment against the unexpected and keep your property income flowing.
Easton Yards Learnings, Part 2: Key Takeaways from the Project
Easton Yards project—part two of the two-part series. In this article, Jennifer shares what she and her team did as well as learned, so the next project will be an even greater success than Easton Yards, a project with a scope Jennifer and her team had never tackled until now.
Easton Yards Learnings, Part 1: The Project
Earlier this year, a large project for the Jennifer de Jesus and Empire Property Management teams came to a happy conclusion. In this part one article, we’ll share about the Easton Yards project and how we were involved in a very successful renovation and pre-leasing of this property.
Improving Underperforming Assets and Exit Strategies with Kristina Travis
In this week’s article, you can review notes from the June 1, 2022 Club Conversations event with Kristina Travis and Jennifer de Jesus. Jennifer and Kristina discussed best practices for improving your underperforming assets and gave real-world examples of experiences with investors and their properties. Recording is available.
Improving Tenant Relations—An Investor's Guide
In this week’s article, we provide insight and tips on how investors can improve tenant relations. Even if you are working with a property management company, it’s important to foster good communication and proactive response to property requests from your tenants. Keep the higher-quality tenants longer and protect your property’s value and appearance by prioritizing the relationship between you, your property management company and/or your tenants.
How to Increase Curb Appeal of Older Investment Properties
Allentown, Bethlehem, Easton—the Lehigh Valley has its fair share of older properties—many exceed the hundred-year-old mark. The market is highly competitive for tenants and you need every advantage you have to make your investment property the most desirable. In this article, we offer up some relatively inexpensive ideas to spruce up your property’s curb appeal so an older property looks like new and grabs the eye of your ideal tenant.
Rehabbing Properties - Six Tips You Should Know
On March 29th, Jennifer de Jesus hosted a lively EIC Club Conversations entitled, “Rehabbing Properties: What You Need to Know.” She provide six important tips on how to approach renovations—whether cosmetic or capital investments—to save time and money (and not anger tenants!). Attendees had the opportunity to ask questions live about their rehab projects so they are better prepared moving forward. Join us at a future Club Conversations to ask your important questions!
Building the Right Team—Part 3: Maintenance
In the final part of this 3-part series on building the right team, we’ll talk about maintaining relationships and dealing with the ups and downs of adding and rolling off properties from your portfolio and how that impacts your team and your investment strategies. When you have an open dialog with your team, everyone will be more successful.
Building the Right Team—Part 2: Implementation
The second in a three-part series where we guide you through the implementation process of building the right team to make your real estate investment efforts successful. In this second part, we’ll talk about executing your strategy. You’ll be able to choose how much you want to do yourself, the reality of managing investment aspects such as maintenance, upgrading or construction for your property as well as sourcing your deal.
How to Crime Proof Your Investment Property
As they say, an ounce of prevention is worth a pound of cure, and when it comes to crime-proofing your investment property, there are low-cost measures you can take. With emboldened criminals having a broader impact on communities outside of cities, it’s important to do what you can to make your property safe and resilient against opportunistic crime. We’ll provide several ideas to help you view your property’s crime deterrent factors and more attractive to higher-quality tenants who are willing to pay more for a safe place to live.
How Increased Interest Rates Impact Your Property
Inflation is here to stay, and is no longer transitory. Why it’s important to investors to look on the bright side of the current economic trends.
