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Rental Value - 03/02/08 12:46 PM
Here is a simple way to calculate an investment property's value without comparisons. The gross rent multipliers are ok, but the following is a better way to estimate the value of a rental property in my opinion.
1. Get the financials on the property.2. Calculate the yearly income.3. Subtract a total of 10% off the top for vacancy and management fees.4. Subtract the taxes and insurance.5. Divide by .10, .11, .12, .13, or .14 depending on the neighborhood. .10 would be a very desirable neighborhood and .14 would be a not so desirable neighborhood.
Here is an example: You have a great looking property in a very desirable … (0 comments)

Breaking a Lease - 03/01/08 08:11 PM
Tenants fail to remember or realize a lease is a legally binding contract, so when the lease is broken the contract is broken. Penalties might be attached to a lease, if not you should revise your lease. Landlords or property managers are human and understand certain circumstances may arise such as a job transfer to another state. Don't try to be slick and sneak out without discussing your situation with the landlord or property manager; they will not be as understanding if you're caught.
Penalties for breaking a lease should be stated in the lease in a clear and concise way. Most … (0 comments)

Roach Control - 03/01/08 07:40 PM
No matter what you roaches can still return, especially if you live in an apartment building or complex. To help control the return of roaches you'll need to do the following"
1. Reduce the amount of food out in the open, especially at night when they love to hunt.
Take out the trash every day and place it in a sealable trash container.Wash your dirty dishes.Wipe down the counters.Pick up and seal pet food. 2. Reduce the clutter and especially paper products.
Remove all paper products from the baths and kitchen.Clean your clothes on a regular basis. Don't let them pile up. 
… (2 comments)

Worst Type of Tenants - 03/01/08 07:24 PM
Most people don't realize that their actions have a direct impact or influence on their neighbors. Here are 2 distinct types of tenants a landlord's dream or a landlord's nightmare. Obviously as a landlord or property manager you want as many dream tenants as you can get. Best advice here is screening your tenants thoroughly to help avoid certain characteristics.
1. The tenant who pays rent late on a consistent basis or not at all. Verify rental history with a prospective tenant's present landlord or pull a credit report. In most cases the landlord will be more than happy to discuss the potential … (4 comments)

 

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Huntington, WV

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C H & R Real Estate Services

Address: Huntington, WV, 25705

Office Phone: (304) 521-4609

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