The Risks That Come with Being a Landlord

Landlord handing key to tenant

Landlord handing key to tenantMore people are choosing to rent out properties they’re not using to earn some money. While you’ll face unexpected incidents while renting your home, there are common risks you should know. By knowing these potential risks, you could take the necessary steps to prevent them from happening and mitigate their potential effects.

Tenant Screenings

One of the most difficult tasks you need to do is to screen prospective tenants. While some landlords hire a property manager for this and other landlord-related tasks, you could do this on your own. You simply need to conduct thorough reference and background checks and know how to read them when you meet them face-to-face. Don’t forget to request their rental history, so you have an idea if they’re moving to the end of your tenancy agreement or if they’re planning on staying longer.

Property Damage

Whether it’s malicious or unintentional, you’ll probably come across property damage in your rental property. Potential damage could include simple damage to fittings or fixtures or more permanent issues with your property’s structure. In any case, your landlord insurance — considering that you have one — should cover these.


If someone gets injured in the property you’re renting out, there’s a possibility that you could be sued for the injury. How could you protect yourself? Get liability coverage that would offer protection in case someone gets injured, sick, or died in/due to your property. United States Adjusters and other experienced public insurance adjusters added that your liability insurance should also give your protection against damage or loss to another person’s property.

Problems with Payment

Making it explicitly clear to your tenants that you expect to receive rent on a specific, predetermined schedule is crucial. That said, consider putting in writing the potential ramifications or penalties of missed payments.

Being a landlord could be a lucrative venture if you’re fully aware of the potential risks involved and how you could manage them. Although it’s not entirely possible to control some of the risks, you could mitigate them successfully with the tips above.

3 Tips on How to Sell Your Home Fast at a Good Price

for sale sign at luxury houseThanks to the Beehive State’s thriving real estate industry, many Utahns have fallen in love with the idea of selling their house. The sale process can be time-consuming, though, because your home isn’t the only one for sale. Moreover, buyer preferences can vary greatly. If you want to turn your property into cash fast, and other experts say that you have to be strategic with your approach.

To get your home sold in no time and receive your desired asking price, use these smart tips:

Target Flippers

A good way to expedite the home sale is to offer your property to flippers. They’re investors who are willing to pay “as is.” Unlike other buyers who are looking for a home to live in, flippers want to renovate old properties their way to make them attractive real estate pieces. If you’re putting a fixer-upper on the market, targeting flippers spare you the ordeal of home repair.

Put Your Home’s Best Face Forward

Curb appeal isn’t a myth like what you’re told. Real estate experts would tell you that properties that look beautiful from the street get sold faster than those that are less pretty. In fact, most buyers focus more on exterior shots than interior shots in listing sites. Investing a little in sweat equity can go a long way. Pressure-washing your siding and hardscaping or applying a fresh coat of paint to walls is a small expense to increase your home’s value by thousands.

Throw In Service Plans

Studies show that properties that come with service plans, such as roofing and window warranties, spend less time on the market than those with none. Instead of offering just your home to the buyer, make the deal sweeter by adding transferable guarantees to the mix. They give potential buyers some peace of mind, knowing that they have protection against defects in building materials.

Selling properties is an art as much as it is a science. With the right mindset, you can make your home the most attractive piece of real estate in your neighborhood.

3 Critical Factors Influencing Real Estate Choices in Rockport, Texas

Home For Sale Real Estate Sign and Beautiful New HouseOver the years, Rockport, Texas has seen a consistent growth in the number of residents with a high investment capacity. That has facilitated the development of the city regardless of how harsh Hurricane Harvey struck homes. Thanks to the undying positivity of the residents, the city is getting back on its feet fast. Business is near normal.

Better still, Rockport Properties, Inc. notes that there is a lot to keep hoping for as the real estate market in Rockport, Texas is back up again.

But before you get to invest your hard-earned money in a property here, you must address a variety of problems that will be critical to the success of your investment.


Determine how safe your neighborhood is to live and run a business. It is necessary that you also look into how active the law enforcement officers are in addressing security issues.

Growth Potential

Determine how fast and easy the plot of land is to develop. You will need to consider the local building codes and the average cost of hiring different specialized contractors.

Proximity to Social Amenities

Your family and business would enjoy a great experience if you chose a space that is near well-equipped schools and hospitals, and has access to safe, clean water. Proximity to the CBD and the main transport routes are also critical factors to consider.

How well you address the above issues will determine how much you will get from your real estate investment. It is time to brave the storm that struck home and go beyond where Rockport, Texas was before when the uninvited Hurricane Harvey stormed in. There is a lot to hope for and it’s commendable that you are taking up the responsibility to make this city a home for your family and a great place to do business.

Marketing Your Property for a Fast Sale

Land for sale signIt’s easy to put up a sign that says your house is for sale. How long that sign will stay up, however, depends on the effort you exert in marketing the property and highlighting its good aspects.

This may be the first time you’re selling a house or it could be part of your string of real estate investments, but you still need to tick the following boxes:

Get Professional Help

When it comes to advertising when selling a property, Prestige Real Estate International LTD says that no one does it better than premier real estate agencies around your area. In New Zealand, there are big and small agencies to cater to your needs. Contact one who knows your area quite well, so they can market your property as an integral part of the neighbourhood it belongs in.

Prepare the Property

As soon as you decide to sell, you should already be thinking of ways to improve the house’s value. Yes, you can sell it as is and you might even fetch a good price without changing anything, but even a small change can give you a great profit. There is a great demand for New Zealand houses, and you will regret not taking the opportunity to boost the value. Now, how do you do it? Simply repainting the walls can already do wonders. You can also choose to fence the property or install new light fittings.

Advertise Everywhere

You have a real estate agent handling the viewings for you, but you can also send links to your Facebook friends or Twitter followers. This boosts the chances of potential buyers seeing your property and contacting you for details. It’s better that you communicate with your agent to know where they are listing your property, so that you can get the link. Use professional and enticing photos of the house, as well.

Selling a house can be done fast if you know how to do it right. The key is to let the right people know that you have a property up for sale.


How to Make a Home for Sale Stand Out


Selling residential homes is a challenging field. The buyers have specifications and locations that interest them. Besides, they would like to see value for money in their purchases. The real estate agents should be a step ahead in studying this market and providing the essential features that satisfy home buyers. Understanding this need will help the agents to work on the requirements in a better way. Young families search for homes that accommodate their children as they grow. It’s necessary to provide sufficient space for the kids to play and hang out. First National Mills & Gibbon knows that. Real estate in Stratford focuses on several strategies to attract and satisfy their clients.

General Outlook

You can impress potential buyers with what they see even before focusing on the little details. The construction materials, the roof and the colour theme form the first impressions. A well-presented home creates an overwhelming desire to own the house. This stage can lead the purchaser to overlook more exquisite details that they can fix later.

Safety Features

Home buyers with young families think about safety measures installed in the house. The staircases should have sturdy handrails that can be easily gripped and securely fastened. The exterior doors should comprise the most durable material, such as steel or wood.

Unique Details

A house that stands out from others in the neighbourhood has a special spark on the buyer. Using different woods and baseboard styles bring out the uniqueness in each house. Buyers’ remember these details, and that is what gets them to purchase.

Spacious Rooms

Every homeowner wants a house with large spaces. However, the land available for this provision is minimal. Therefore, the real estate agents should design details that maximise the small spaces. This strategy will improve the clients’ experience in each room.

Selling a house can be a tedious undertaking. Real estate agents should provide important features that excite the buyers to close more sales and increase their market influence.

Statistics NZ: Building consents rose 12% in August YOY

Apartment buildingBuilding approvals for new residential properties in New Zealand rose 12 per cent in August year over year, which may reverse a cooling market where demand has exceeded supply.

Statistics New Zealand said that the consents for construction projects covered around 3,166 properties, including homes, apartments, townhouses and retirement communities. Houses accounted for a majority of the building approvals with 2,025 properties, followed by 384 consents for apartments.

Record High

In terms of monthly growth, building approvals increased to a 13-year high in August led by consents for new apartments and retirement villages, according to Statistics NZ. The country’s real estate sector has cooled recently amid tougher lending policies. Still, the increase in approvals represented the highest gain since February.

Some cities such as Auckland, however, have unstable movement in building consents, said Statistics NZ construction statistics manager Melissa McKenzie. More than 1,100 new building permits for August are in the city. A growing migrant population in the city has been a challenge for developers to meet the eventual increase in demand. Builders may have also faced other issues such as acquiring a resource consent for land, or limited capital are also some of the underlying issues.

Analyst Insights

ANZ senior economist Phil Borkin believes that the record high in building permits for August will likely be “as high as it’s going to be,” since companies struggle to find skilled workers. Inflation also influences real estate trends, although the market’s nearing peak levels serves as the main reason for subdued activity in new home construction.

However, the silver lining of this scenario could be described as “kind of a plateauing at a strong level,” according to Borkin.


The increase in new building approvals may help future homebuyers in acquiring properties in a tight market, driven by high levels of migration in some cities.

Utah’s Mortgage Approval Rate Reaches Up to 95% in 2015

Approved Mortgage Loan Application

Approved Mortgage Loan ApplicationMortgage loan applications in Utah has an up to 95% chance of gaining approval, as the state the second highest number of applicants per 1,000 people in 2015, according to an analysis of data from the Home Mortgage Disclosure Act.

The state’s approval rate has placed it on a comfortable spot against the nationwide average of 88.2% during that year. Those living in Florida, however, had the lowest percentage of approved mortgage applications at 82.9%.

High Stakes

Competitive mortgage rates in Utah and the huge demand for homes in the state are only some of the factors that reflect the number of applications. The analysis showed that there were 17 applicants per 1,000 residents in 2015, the second highest number for that year.

Colorado ranked first in terms of mortgage applications with 18.2 people per 1,000 applicants that sought to get a loan, while New York had the lowest number at six applications per 1,000 New Yorkers.

More Demand

Home sales and prices are expected to increase further in 2017 partly due to a strong momentum in the previous year, according to an industry report by Jim Wood, a University of Utah’s Kem C. Garner Policy Institute economist. Sales of existing single-family homes rose 1.3% to 13,600 units in 2016, which represented the biggest sales figure for such properties.

The increase, however, does not paint an entirely bright picture. Wood said that if home builders fail to deploy more homes to meet an excessive demand, there is a possibility for a housing shortage to become a sociopolitical issue.

Applying for a mortgage in Utah has become much easier thanks to increasing competition among lending companies. These loan providers are finding ways to attract clients by offering compelling rates and improved services, so it’s up to you to decide which package works best for your home purchase.

Buying a Home: Crucial Factors Millennials Should Know

Home Buying in Ogden

Home Buying in OgdenIt’s exciting when you’re about to reach your next milestone, especially when you’re becoming more financially stable. Be it moving to another city in Utah, learning a new language, or seeing other parts of the world, many young professionals today are crossing off items on their goals list. The question is should they set their eyes on home ownership next?

Surprisingly, many millennials in the U.S. don’t seem to like owning homes just yet. One possible reason for this is they think it’s too complicated or that it requires huge financial undertaking. While it’s a responsibility they need to carefully think about, owning a home has its many merits, especially when you start young.

If you’re looking to purchase a new home in Utah as an investment or simply want a space on your own, here are some factors you should consider:

Down payment

The rule of thumb is to save as much as you can for down payment if you want to save on interest costs. Mortgage loan experts in Ogden recommend having at least 20% of the property’s price as down payment. With less money to borrow, you can better manage the interest expenses in the long run.

Credit score

It’s not only the down payment you should be considering. A good credit score can help you land a better mortgage deal. Good credit scores tell the lender that you’re responsible enough to meet regular payments. While you’re racking up work experience, be sure you’re building up a good credit score. Use your credit card wisely and pay off debts as soon as possible.

‘Hidden’ expenses

You should be aware of the ‘hidden’ expenses that come with buying a property. These are the expenses that many don’t often take into account when scouting for a home. From association fee to home insurance and closing costs, they can add up and hurt your budget if you’re prepared. Make sure you have enough financial cushion and don’t take these factors for granted when buying a home.

Buying a home is a huge milestone, and let alone doing it while you’re young. With careful planning and good financial sense, you can achieve this milestone and move on to another.

Dare to Think Big: Why a Multiple Family Home Could Be Ideal for You

Multifamily HomeIf you’ve been burned by the stock market during the recent recession, then perhaps you should try investing in real estate. Don’t be scared of the capital involved in real estate investing; if you know what you’re doing, you won’t need that much capital to begin investing.

Your First Investment

It takes the same amount of effort to invest in a single family home as it does a multifamily property such as a duplex or an apartment. The process of applying for the loan is the same: the only difference is in the numbers involved.

Most times, it can be easier to get loan approvals for a multifamily home. Why? Because an apartment is more profitable than a single detached home. Lenders, when looking at investment real estate, will look at the profitability of the project more than your capacity to pay.

If you don’t own your own home, you can choose to buy a multifamily property as your personal residence. Move into one of the units then lease out the remaining units to cover for the property’s mortgage, taxes, and other expenses. By using the FHA’s loan programs, you can drastically reduce the cost of your down payment from 10%-20% to 3.5%. Of course, there are state-dependent laws that govern such transactions so be sure to consult competent financial advisors.

What Comes Next?

Once your rental income exceeds the expenses of the property, there are several options to choose from.

First, you can choose to use the excess rental income to pay down the mortgage principal, thus lessening the time span of the loan. If you own the property free of mortgage, the rental income that used to pay for the mortgage goes to your pocket instead and becomes your passive income.

Second, you can choose to refinance after a few years and use the loan proceeds to invest in another rental property. When the combined income from both investment properties exceeds your monthly expenses, you will be able to call yourself financially free.

Keep these things in mind, so you can make the right decision. Always weigh your options and determine what's best for you.

Home Loans Are Many Things, Except These Myths

Home Loan in Minnesota

Home Loan in MinnesotaMinnesotans love mortgage tales, only everyone has polar versions. Two persons could talk about a particular home loan topic but usually end up on a different page. Stories get passed down from one generation to another. Before long, everyone thinks they speak of the truth about interest rates and second mortgages without realizing what they know nothing but tall tales.

But the cycle breaks now

Such misconceptions stick around because people keep talking about them — and believing them. Today, though, you land on this page for a reason — to either validate your reservations or shed light on the most puzzling concepts of home loan.

Whatever your reason, separate facts from these fallacies:

Cash-Out Refi is Free Money

Yes, you can receive hard cash from a refinance, but it comes with a price. Cash-out refinancing is all about replacing your current loan with a new mortgage and tapping your home equity to get greenbacks all in one transaction.

This move allows you to get a lower interest rate and convert a portion of your current home equity into cash for any purchase you want, like a remodel or a purchase of a beautiful home for sale in Plymouth, MN. Not all borrowers, however, can take advantage of this option; you would need first to meet certain requirements the lender set.

ARMs Always Trump Fixed-Rate Loans

False. Both have pros and cons, and they involve a certain level of risk. An adjustable-rate mortgage can be advantageous if you moving in a foreseeable future, as you can enjoy a low initial rate early in your loan term. A fixed-rate loan, on the other hand, offers you stability throughout your term, thus giving you peace of mind your rate wouldn’t increase whatever happens.

In the end, the right choice depends on your financial situation and future plans, says an expert from MN Property Group.

No-Cost Loans are Interest-Free

This is true — if you’re dreaming. But in the reality, the “no-cost” in no-cost loans refer to the closing fees. If you take this type of mortgage, your loan would be free from any closing cost in exchange for paying a marginally higher interest rate. If your budget permits your would-be monthly repayments, you might save a considerable amount when your loan matures and reduce your upfront expenses.

Financial products change over time, so mixing up some details is sometimes inevitable unintentionally. Nevertheless, it’s never an excuse to stay financially ignorant and not help yourself separate truths from tales.