Renting Your Home: It Can be a Great Investment For Your Future None of us ever knows what the future will bring. No matter how stable our careers and how reliable our income, it’s always a good thing to be able to take steps to safeguards your future wealth. That’s why you’re never too young (or too old) to think about savings, pensions, IRAs and other financial products to help you to enjoy a leisurely and stress-free retirement. Yet, one of the most potent investments you can make in your future is the roof over your head. Those who choose to rent out their homes find that they benefit in a number of ways which make it easier to plan for good financial health in the future. Here are just a few of the reasons why renting out your home can make a great investment for your future… Renting your home gives you additional income to bolster your savings Do you find it hard to save? You’re not alone. Despite the received wisdom that we should all put at least 10% of every paycheck into our savings account, an increasingly large proportion of us find it harder than ever to do that. The rising cost of living and the bare essentials seems to leave us with less and less to put away each year. However, the steady stream of rental income you receive by renting your property gives you a comfortable margin to bolster your savings, leaving you with more ready cash to pay for the essentials and life’s little emergencies. What’s more, when the time comes to remortgage you may find that you’re able to reduce your monthly mortgage repayments, increasing that margin even more. Renting your home insulates you from the risk of negative equity In today’s property market, home owners are thankfully free from the worry of negative equity. Nonetheless, nobody knows for sure what the future of the property market holds. The good news, however, is that people always need a place to live. Renting out your property can prevent you from needing to sell it, thereby allowing you to weather any economic crisis and its impact on the housing market. Renting your home gives you the freedom you need to pursue great opportunities Every now and then an opportunity of a lifetime may come your way. It may be an opportunity to travel the world or perhaps pursue a dream career move in another town, state or even another country. Being tethered to your home can prevent you from seizing these golden opportunities. Renting out your house, however, can allow you to pursue these opportunities without the need to sell your home quickly and take an inevitable hit on price in the name of a quick sale. Renting your home keeps you in the driving seat When you rent your home, you have the peace of mind that comes with knowing that you always have equity when you need it. And that equity will only keep on growing as your tenant pays more and more of your mortgage. This puts you in the driving seat and gives you a greater range of options later on down the line. How can we help? With our suite of property management services, we can make renting your home completely stress-free without completely eating into your profit margins. If you’re ready to take a bold step forward and rent your home, contact us today to take control of your future!
What to Expect from Experienced Property Management in Bend Those who choose to invest in rental properties here in Central Orgon know that hiring good property management in Bend to work alongside them is going to yield them higher earning potential and reduced liability. Knowing what to expect from experienced property management in Bend isn’t always easy, though, especially if you’re not a person experienced in dealing with them. They should be able to supply you with a higher rental price, good quality services including: Expert knowledge in the property field and location area Interior and exterior walkthroughs Access to quality advice about the local area Cheaper vendor recommendations Excellent tenant screenings Peace of mind! You’d go see your physician to make sure you’re in good health on the inside, so you’d go to property management professionals to make sure that your property is leased, cleaned and managed appropriately. You’d also want to know that your tenants are happy, which is why you hire property management in Bend to stay on top of these things for you. You want to choose a bend property manager that will communicate with you effectively so that you can be a more successful property owner. So, what sort of service should you expect to receive from your property management in Bend? Communication, Professionalism, Accessibility Firstly, you need a property manager who is going to be available to you when you want to contact them. A property management company that doesn’t respond to an email is not going to give you the peace of mind that you need to know that your investment is being taken care of. If you don’t have calls returned to you promptly, it’s a cause for concern, as you are allowing someone to manage your rental property and they are doing so ineffectively. Trust is important, and a professional property management company will be respectful to you. Knowledge, Experience, Expertise There are laws that will impact your rental property, and you aren’t going to be an expert in these laws. A professional property management company, however, will be adept in the legal changes and the local laws that will affect you. You can expect them to have the right knowledge and expertise for your property so that they can manage any issues that could arise in the course of their working with you. Marketing, Advertising, Leasing You need good, professional tenants that are going to look after your property. With the right marketing and advertising strategy as put forward by your property management in Bend, you can ensure that you get good quality tenants that will meet the rental criteria that you’ve set out. They will use the leases that will protect you as a landlord and the leasing process is handled for you, from key signing to move in inspection. Using a property management company may not have been in your radar when you first bought your property, but when you need to concentrate on your work and other areas in life, the right experienced property management company in Bend could be everything you need for success. The team at Fox Management Services would love the opportunity to provide property management services for you and your rental properties. Give us a call today!
Corporate Rentals can be a Great Real Estate Investment Strategy Corporate housing is usually fully furnished, full-service housing that is available to rent on a temporary basis. This can include apartments, houses, studio rooms and even condos, but the point is that it is used to be let for business workers who need accommodation that is cheaper than hiring out a hotel room. The average corporate housing stay is between eight and twelve weeks and it’s traditionally used by business travelers who need a place to stay while they are working. Think those who are remotely working with a client in the field and need to stay away from home for a few weeks to complete a contract. Why Would Corporate Rentals Be Good For Investors? Any real estate investor who enjoys a challenge and likes a profit would want a piece of the corporate rental business. There are several reasons investors would see corporate rentals as real estate investment opportunities, and here are some of those reasons: Versatile . Choosing to invest in corporate rentals is an optimal rental strategy for real estate investors. They’re a flexible, versatile option and finding the right rental strategy can be done by checking out the demand in the area you are interested in buying in. most corporate investors are looking for professionals to fulfill the rental agreement, and in return, the income tends to be slightly higher. Better Tenants. As the tenants that come through the door of a corporate rental are usually on business, it makes sense that corporate rental landlords don’t face the same worries as they would about a normal tenant. Most of the time, investing in a corporate rental means reducing the costs of finding tenants for the property as well as finding professional tenants. Lower Maintenance. Corporate rentals are fully furnished, and the maintenance and follow up required to ensure the property that you’ve invested in is generating high revenue. Corporate rentals attract tenants more willing to take care of the property, which reduces the overall maintenance costs. Customization. One of the best reasons that corporate rentals can be a great real estate investment strategy is that you can customize the rental to suit you. If you are looking to own property that is leased to your employees, then you can make sure that it’s of the highest standard in terms of furnishing – your reputation would be at stake. The other upside to customization is the fact that it makes the rental more profitable! Should You Invest? Really, it’s never going to be yes or no as to whether you invest in corporate rentals. There are always going to be downsides to the investment, including your budget and location. The best real estate investment strategy involves putting money into a project that you’re going to get a good return on investment with and as your clients will be willing to pay for any premium services or amenities, you can do so much with your investment and earn quickly on them. Take the time to study the various investments in real estate and figure out what’s right for you. If you need any assistance the team at Fox Management Services would love the opportunity to provide advice or property management services for you and your corporate rentals. Give us a call today!
