Discover How To Become A Great Landlord

Property management and being a landlord is tough, to put things mildly. One must contend with constantly complaining tenants, those who do not pay their rent, and seemingly endless repairs and maintenance issues. Rental real estate and being a landlord comes with a lot of responsibility and stress. When everything is said and done, it can all turn a good-natured person into a jaded landlord.

Nonetheless, being a good landlord is essential if you want good tenants. It is easier to just look at renters as merely revenue, rather than people and building good tenant/landlord relationships. There are numerous benefits to creating a strong connection with your tenants. It is important to attract and retain good tenants, and it becomes very costly when a property becomes vacant. Happy tenants are just good business. Don’t you agree?

Above and beyond the lost rent, it can take a landlord 40 hours or more to replace a tenant. That is time spent advertising the property, screening prospects, showing the rental, reviewing applications and everything else required. Working to keep good tenants makes a whole lot more sense. So, with that in mind, here are some tips to get started.

Becoming a Great Landlord

1. Customize Your Lease – Those fill-in-the-black forms you find online and in office supply stores are one-size-fits-most, even when they are state specific. Create a straightforward lease with clear expectations and rules, including late payment fees.

2. Educate Your Tenants – Set expectations early. Don’t assume they will actually read the lease or your rental guidelines. Take the time to explain all your rules and policies. A little time up front will help you avoid headaches later.

3. Set Up Regular Property Inspections – This will give you the opportunity to make sure that the property is in good condition and stay on top of maintenance. However, it also gives you the opportunity to see how tenants are treating your property.

4. Make Timely Repairs – As the landlord, you are responsible for the repair and upkeep of the rental property. Don’t wait until something becomes an emergency. The faster you handle repairs, the happier your tenant.

5. Always Use Precise Language – If a tenant violates the rules of the lease, it is important to use precise language. If you are not clear, you may lose the ability to enforce that clause of the agreement.

6. Respect Privacy – Your tenants have a right to their privacy. You need to provide proper notice if you plan a visit. Moreover, it is a good idea to limit visits to regular business hours or the very early evening.

7. Show Compassion – Some will disagree, but if you show a tenant some compassion when they have an issue (within reason), they will remember the kindness. This can create a lot of goodwill and loyalty. Just don’t let yourself be taken advantage of.

For more property management tips contact Housing Helpers professional property managers at 303-545-6000.

Property Management Tips : Tapping Into the Millennial Generation for Rentals

Property management involves several tasks. Among the most basic tasks is the job of securing renters for the properties. Understanding the rental market is one way for property managers to boost business.

According to recent statistics from the National Multifamily Housing Council, 51 percent of the rental market consists of millennials, and the percentage will likely increase. Millennials are less inclined to purchase a home than previous generations. Since this is a key demographic for rentals, it makes sense for property managers to gain an understanding of those to whom they will likely be renting. Here are 3 characteristics of millennials.

Technology Savvy

Millennials have been raised connected to the internet. They use their smart phones for about everything including texting, shopping, research, and self-care. Many millennials connect to the internet to fill out applications and make many of their regular purchases. So, in order to attract this group of people, property managers need to make rentals accessible online as well as offering a platform for filling out the application.

Once millennials become tenants, make maintenance requests simple with an interactive platform. The convenience will go a long way in keeping them locked in.

Socially Responsible

Research indicates that millennials are concerned about social responsibility. Highlighting any “green” features of the rental will go a long way with this group. Also, if there are any social causes that the property managers or owners are involved in, it can create a connection with millennials.

Social

Millennials love company and friends. Whether they are getting together for a cookout or checking out a new museum, they enjoy social activities. When selling your property to millennials, it is advantageous to mention or list all of the social spots around town.

Understanding the millennial preferences aids property managers in renting to this group. Connect with us for more information about property management.

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Top Reasons to Rely on Property Management Company for Your Rentals

Although you could manage a rental property, many real estate investors rely on an experienced property management company to handle the details of their rentals. A property manager takes an active interest in protecting your rental property as well as satisfying the reasonable demands of tenants.

New rental property owners sometimes take on the monumental task of managing their own property only to deal with emotional and financial drains as well as unexpected headaches. To figure out if hiring a property management company would serve as a solution for your particular situation, consider the main reasons most investors rely on professional landlords.

Saving time

The old saying that “time is money” is literally true! If you have a full-time job, family or career that requires you to travel, taking care of your own rental property often requires too much attention. Most people are too busy to deal with the everyday problems associated with tenants such as collecting rent, calling repair professionals and enforcing the lease. A property management company will sabe you time.

Screening tenants

Most people aren’t familiar with the tenant and landlord laws. A property management company finds qualified tenants that are the best match for your rental home. By running a background check and reviewing a tenant’s rental history, it’s possible to minimize risks.

Serving as an intermediary

When you own a rental property, you don’t necessarily want tenants calling your or violating your privacy. With a property management company, you don’t end up having tenants showing up on your front door step with the check or calling with complaints. A property manager is the point of contact for the tenants when they want emergency repairs or need to air concerns or ask questions.

Other important reasons people hire a property management company include legal considerations such as evicting tenants the property way. Also, property managers know the best vendors and contractors for necessary repairs.

Whether you need help renting your property or managing your property contact Housing Helpers for the most professional landlords in Colorado. 303-545-6000.

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3 Clauses to Check In An Apartment Lease

You should always know what you are getting into before signing an apartment lease. While most leases you will encounter are generic, standard fill-in-the-blank forms, once you sign, you are locked into a binding contract. Initially, you may look at your new apartment as a dream come true. However, if you are wrong, it could become a year long nightmare.

We all can understand the notion of “Rental Search Fatigue,” when you have searched so long or under a stressful time constant. The pressure can cloud your judgment, cause you to rush, and push you to overlook details. It is always a good idea to pause, take a breath, and then carefully example the details of your new apartment lease before you sign. Here are some things you want to look for in an apartment lease when you have a clear judgment.

1. Early Lease Termination Clause – You want to know if you have the power to terminate the lease early and the amount of the early termination fee. If an early termination clause does not exist, you could be responsible for the remainder of the lease or at least up to when the landlord finds a new tenant.

2. Security Deposit – Examine the lease closing to discover if an early termination will cause you to forfeit the security deposit. Some leases state that your security deposit will be treated as “liquidated damages” for re-rental expenses. This could mean relinquishing the deposit even if you find someone to take over your lease.

3. Late Fees – It is important to know how much late fees are, and how they accrue. Some landlords charge a flat late fee, while others charge a daily late fee, or some combination of both. Yet, there are some who will charge no late fees. Nonetheless, most leases will state late fees are recognized as “rent”. As a result, it is possible to be evicted just because you failed to pay the late fees.

What haven’t we covered yet that is important to you? If you would like to talk the things to look for in an apartment lease, or need more information, please Contact Housing Helpers

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Colorado Among Hottest 10 Housing Markets

As we approach the presidential inauguration, demand for homes continues to increase throughout the country, in a recent real estate market trend. Although this trend is taking place nationally, multiple sources report that the trends continues to be particularly hot in Colorado.

Recently, Realtor.com reported that two Colorado cities, Denver and Colorado Springs, were among the countries’ hottest real estate markets last month. Denver came in at number six and Colorado Springs in 14th.

In particular, home buying interest became strong throughout the country after the election. Often the winter months are a slower season in real estate, particularly in snowy climates like Colorado, but this year the market shows no signs of slowing down. Nationally and locally, this is due to a few trends:

Mortgage rates increasing. After years of remaining low, mortgage rates recently started going up, with plans to continue to rise over 2017. Would-be homeowners hope to buy now before the rates increase further.
Snapping up the remaining inventory. Buying may be getting more popular in Colorado and nationwide, but housing stock isn’t increasing. Many people are buying homes now to make sure they get the ideal house for their needs.
Better weather. In Colorado, the weather has been warmer and sunnier than usual, particularly last fall and early winter, so more home buyers were willing to brave the elements and go house hunting.

Even with the busy market in Colorado, now is still a great time to buy your next home. According to Denver Business Journal, while inventory may be down, single family home sale prices remain steady. Denver also has the second highest appreciation values of home values in the country, making a home a great investment. But be sure to buy soon, before mortgage rates increase and inventory further shrinks.

For your Home Buying needs in Colorado contact Stephanie Iannone 303-641-7484

Real Estate Trends That Will Shape 2017

Whether your in the market for Colorado real estate or not, if the last quarter of 2016 is any indication of the future than 2017 is sure to be filled with surprises!

One thing that no one expected, from Donald Trump’s win of the 2016 Presidential Election, was a stock market rally and 10-year Treasury bill rate increases. In 2016, low-interest rates and improving wage growth helped boost the U.S. Housing Market.

However, as of November 25th, the 10-year Treasury rate grew to 2.36 percent, up from 1.83 percent the day before the election. This has increased the national average of a 30-year fixed-rate mortgage to 4.02 percent, up from 3.47 percent, for the same period. However, this is not the only national trend that will affect real estate in 2017.

2017 Real Estate Trends

1. Walkable Communities – Simply put, a walkable community is one that is friendly to walk. Notwithstanding, much of this real estate trend is driven by a desire to live in a healthy and environmentally sustainable town or city. Buyers are seeking neighborhoods in which there is a reduced reliance on automobiles, with easy access to work, shopping, and entertainment.

2. Use of Unmanned Aerial Vehicles – Proficient real estate agents are always looking for new technologies and ways to make properties stand out. Since the advent of the internet, there have been many new ways to present homes for sale, and having them stand out in the crowd. A growing new real estate trend is the use of drones to create aerial video tours of properties.

3. The End of Starter Homes – A growing number of Millennials, those born between the early 1980s and the late 1990s, are anticipated to acquire their first house in 2017. The housing crash caused many to become hesitant to buy. However, the delay into the market has empowered many to prepare by paying down student debt and saving for a down-payment. The resulting real estate trend is that many are choosing something more than just a starter home.

4. Increased Mortgage Rates – As stated, the Trump Presidency has started to push the interest rates up for fixed-rate mortgages. This is because of the link between fixed-rate mortgages and the 10-year Treasury. However, adjustable-rate mortgages are more closely linked to the Federal Reserve rate. The Fed just raised rates in December and experts predict this real estate trend will continue to slowly raise rates through 2017.

5. Easier Mortgages – According to the Mortgage Credit Availability Index, acquiring a mortgage loan is easier today than it has been for the last 8 years. This is a result of more availability for low down-payment loans and jumbo loans. Banks are starting to loosen up and seem more willing to work with buyers. As the economy continues to grow, this trend should continue.

We expect the strong Colorado housing market to be one of the real estate trends that will continue in 2017. With rents and home prices both on the rise it will be a challenge for buyers and renters as sellers and Landlords will stay in the driver seat.

As we embark on an exciting new year here at Housing Helpers Colorado we wish all of our friends and clients peace, prosperity, and our sincere thanks. We look forward to helping you with your real estate needs in 2017!

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Housing Helpers achieves 30-Year Milestone in Boulder

Housing Helpers will be celebrating 30 years as a Boulder business in 2017. The company was founded by a University of Colorado student who saw the need for a better way to match roommates. It has grown over the past 30 years into a full-service real estate and relocation services company offering integrated housing solutions, always emphasizing friendly personal service provided by local professionals who are committed to the communities where they live and work.

Housing Helpers differentiates itself from other real estate companies through the synergy its real estate, rental, corporate housing and leasing services offer customers. No matter what the real estate need is, Housing Helpers can help.

The owner of the Boulder franchise, Stephanie Iannone, has been a leader in the Boulder community for many years. She currently serves as the Chair for the Boulder Chamber and has also held Board positions with the Boulder Area Realtor Association, IRES, and the Boulder Area Rental Housing Association. She has received numerous awards and recognition for her expertise, including Distinguished Realtor of the Year (from the Boulder Area Realtor Association Magazine), Top 25 Most Powerful Salespeople in Colorado (from COLORADOBiz Magazine), and 40 under 40 emerging business leaders (from BizWest).

In the 23 years she has led Housing Helpers, Iannone’s passion has always been to help people. One of the highlights of her career was partnering with the City and County to find housing for people displaced in the 2013 floods. She is also proud of her team at Housing Helpers, which is an extension of her family. Their focus is to help people and serve their customers, and they also have a good time together. At their annual yearend party, they read letters from customers whose lives they have touched by helping them with one of the most important aspects of their lives – their home.

Interview with a client

Ellie Duncan of Arvada is a three-time client of Housing Helpers. “We were introduced to Housing Helpers when we were living outside Philadelphia, Pennsylvania, and my husband was being relocated by his company to Colorado. Stephanie Iannone provided the relocation services, and we bought a house in Arvada. We had owned a number of houses already, and we both felt she was the best Realtor we ever used.”

When they next moved – from Colorado to South Carolina – they had Stephanie sell their Arvada home. “And now we’re back in Colorado and she found us this house, in the same neighborhood. We loved it here and now we’re back.” Iannone provided corporate housing while they waited to close on their home.

Duncan also praises two of the Realtors on Stephanie’s team, Mindy and Kim. And the highest accolades go to Stephanie. “Stephanie makes you feel you are her priority, though she has tons of clients. She doesn’t really care what your price point is; she wants to be sure you find the right house for you.

“And she’s a straight shooter. She’ll tell you if a house isn’t the right fit for you – for instance, if you have kids, as we do – and she’ll see things you might not notice. I think she’s amazing. She’s one of the best negotiators – very nice and fair, and strong. She fights for you.

“I’ve been the seller and buyer with her. She really represents you. She’s a very caring, genuine person, and wickedly bright.

Housing Helpers award winning Colorado real estate agents provide home purchase, home sales, investment property, and relocation services to buyers, sellers and real estate investors throughout Colorado.

By Judy Finman, At Home, Daily Camera

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Corporate Housing Improves Employee Recruitment Process

You already know how difficult it can be to find talented recruits for your company. You spend a great deal of time, and money on the process every year. However, there is one aspect of recruiting that you may well be overlooking. Top talent may not be in your immediate area, and that means they have to relocate to become a part of your team.

When you incorporate corporate housing into your recruitment process, you’ll see an increase in the number of talented individuals interested in your company, make their transition easier, and builds stronger relationships.

Attracting Talent

Your corporate culture, workplace atmosphere, compensation and benefits package are all part of the draw for talent to come to work for you. One of the drawbacks, however, is the need to relocate themselves and their family to a new city they may never have visited before. There are so many unknowns that some recruits may be fearful of such a move.

Paying for a fully-furnished, well appointed house, or apartment, for them will help ease those fears and turn uncertain recruits into excited new hires instantly.

Easier Transition

Some of your recruits have a spouse, children and pets, who are understandably their top priority. While the opportunity to work for you may be a financially wise move, transitioning from their current home to a new one can be stressful.

Corporate housing helps families transition into their new surroundings by providing them with a safe, secure, well researched home.

You’ll be instrumental in helping them learn about the city and neighborhood. You’ll also help relieve worries about schools, medical care facilities, veterinarians and other services your recruit needs and wants.

Builds Relationships

While you may think very highly of your employees and you treat them with the utmost respect, both professionally and personally, a new recruit won’t know that. Everything that you do, from the first point of contact through their time with your company has to reinforce your commitment to them.

Providing your new employees with a home that they can comfortably live in while they integrate themselves into your company is a great way to start.

It shows your recruits that you value them, and that you are willing to go the extra mile to make sure they are comfortable, and happy with their decision to work for you.

You must recruit, and retain talented individuals in order to rise above the competition and continue to grow your company. Your recruitment efforts will be greatly enhanced by simply offering corporate housing options for them. You’ll find that the number of recruits you have access to increases, their transition will be easier, and you’ll build a strong, mutually beneficial relationship from the beginning.

For more information about incorporating Corporate Housing into your recruitment process call Housing Helpers of Colorado at 303-545-6000

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The Fall Real Estate Market in Colorado

If you’re in the market for a new home, you should know that fall is an especially good season for buyers in the real estate market. That’s partly because of the simple law of supply and demand. According to MSN Money, need to move into a new home before the school year starts. If you’re trying to sell a house, that means there’s less demand, a fact that puts buyers in the driver’s seat and leaves more room for negotiation.

Another plus for buyers? Home prices tend to fall slightly after the busy summer real estate season. If a seller that listed his home last spring or summer still hasn’t sold it, he may consider reducing the price, or at least negotiating some concessions to keep a potential buyer on the “line”.

If you’re looking for a home in the fall, it’s likely you don’t have school aged children, so there are no hard and fast deadlines pressuring you. Sure, you may prefer to close on a house before the holiday season, but it’s not the same as having to. If you can get a better deal by waiting awhile, chances are you will.

One caveat to this rule concerns vacation homes. If you’ve rented a home for a period during the summer and love the area, you may be at a slight disadvantage. A seller knows when he’s got a home that’s worth more simply by virtue of its location near a prime vacation spot, and because of skiing, Colorado often has more than just summer vacationers — they’ve got the winter ski crowd too.

Still, buying a vacation home in the off-season has the advantage of letting you get to know what the area is like when it’s not crowded with tourists and vacationers, and if it’s a second home, you can always rent it out during prime seasons, so it might just be a win-win situation for both parties!

As with all things real estate, it’s much easier to navigate the Colorado real estate market with a trusted and experienced expert by your side. Call Housing Helpers real estate group and let us guide the way! 303-545-6000

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Professional Services Can Make Your Relocation Easier

If you are in the midst of a relocation, such as if you are moving because you are taking a job or position in a different city, you might be under a lot of stress. After all, getting used to a new job can be a big enough life change, and having to deal with a household move at the same time can be enough to stress anyone out.

A lot of people try to tackle every aspect of a relocation by themselves. In some cases, this makes sense. However, if you are changing jobs and are moving to a totally different city, it can be helpful to seek professional assistance. Even though you might be worried about the cost of doing so, you’re sure to find it to be worthwhile.

For example, using a professional rental finding service can help you find the perfect apartment or home. There’s a good chance that you don’t know your new area very well, so it can be tough to know where to look for a home. A professional service can help you find the best possible rentals that are within your budget.

You will probably also want to use a professional moving service to help you pack and move your belongings so that you can focus on preparing for your new job. Consider talking to the human resources department at your company; if you’re moving for work, you may be eligible for some type of assistance with your moving expenses.

As you can see, you shouldn’t try to tackle everything on your own when you’re moving to a new place. Instead, try working with a few professionals who can help make the entire process a lot more streamlined and a whole lot less stressful.