Are you a new investment property owner in Salt Lake City looking to save money? Unfortunately, many who are new to overseeing a rental property can also witness the money drain on their bank accounts. That’s because some mistakes can have you spending more money than is necessary, or even cause you to lose money.
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In my last tip on reducing vacancy, I briefly mentioned the importance of being intentional with lease renewals. Today I want to dive deeper to give some winning lease renewal strategies. Check out my video above for even more details. When you have a good tenant, you don’t want them to move. Period. That turnover
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What is the number one killer of ROI?… Vacancy! There are many tactical and strategic ways you can reduce property vacancy, but there’s not enough time to explain all of them here! But, I will be diving deep into them in my upcoming book and podcast, The Successful Landlord’s Playbook. Today, let me touch on
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How much should I budget for a tenant turnover? Here are some general guidelines as well as our philosophy when approaching tenants and turnovers with properties we personally own. I for one, am happy when a great tenant stays in my property for a long time. One of the biggest frustrations tenants experience is
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Below are the latest trends, metrics, and stats for the Salt Lake County rental market. Overall, our market is strong and rent is continuing to increase. In the category of 4 bedrooms multifamily apartments, rent levels are leveling off and starting to decrease.
Watch other videos HERE I want to share with you some Salt Lake Housing numbers that are hot off the press for May 2018. In 2017 in May, the sales comparison: We had 1,781 homes in May of last year. This year, we’re down 6% to 1,680. We have low surplus, or we have a
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(Recording of Live Webinar on 5/10/18) Learn from real estate and leading eviction attorney, Kirk Cullimore, Jr. the top 3 reasons landlords are sued and ultimately what you can do to avoid them. Do you own and manage rental property? If so, it is more important today than ever to be knowledgeable on the
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Watch other videos HERE What is a short sale and should I consider buying a home listed as one Today we’re going to explore this a little bit as this is a common question that we receive from investors, from first time home buyers or even repeat home buyers that are looking at short sales. They
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Watch other videos HERE What does a property manager do for an investor? If you’re asking this question or you’re curious about this topic maybe it means you’re an investor, you own rental properties, or you’d like to own rental properties and you’re considering whether you should hire it out or do it yourself. So, you’ve
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Watch other videos HERE Today I want to talk about thirteen points to having a successful rental property. Let’s jump right into it with number one: 1) Treat your rental like a business…because it is a business. 2) Have a financial reserve in a separate bank account set aside for rental properties. We recommend having
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