Michael 's Blog

Revamp Your Bathroom in One Day

Michael Peterson (rentalproperties.ca) — Thu, 20 Mar 2008 16:13:17 -0500

The minute the sun peeps out and warms up, we think of spring cleaning. Even untidy people can often look forward to flinging open the windows to the crisp spring sunshine and dumping out some junk prior to decorating!

Color schemes have changed drastically in the year and many homes look 'dated'. If you tackle the bathroom first, you will have a chance to see if you like the 'new trendy look'.

If you are planning a garage sale, this is a great way to prepare for the sale. We all know that excess 'stuff' inevitably gets hoarded in the back of cupboards, but it can be daunting to think of sorting out the whole home all at once. Tackling the bathroom can 'break you in' to that messy business of decorating again!

This is a small room and to some extent it is impersonal. Many of the toiletries that you stashed can be bought again at any pharmacy. This makes a bathroom easier to clean out than a bedroom - it can take ages deliberating over every piece of clothing you ever owned.

Look around for every bottle and container you can find, including emptying out all the drawers, medicine cabinet and cupboards. Put everything into a box, and put the box outside the bathroom door. Leave the box for now. Grab a large garbage bag for expired or empty bottles and put that in the box, too.

Get rid of any dust or cobwebs that may be attached to your soon-to-be painted walls. It will just take a few minutes to go into the corners and over the ceiling to remove cobwebs and dust.

Wash thoroughly all vents and fans, and take down and wash or dry clean all draperies, shower curtains, etc. Scrub the bath, shower and toilet, inside and out.

Launder bathroom rugs and matching towels. Wash out all cabinets, cupboards and drawers, including the medicine cabinet. Wash the swept floor. That took 20 minutes. (HA!)

It is very inexpensive to change the color scheme of your bathroom. To finish up with a bathroom that looks bang up to the minute, you need to clear absolutely everything out of the bathroom, ready to decorate. This means that now you can paint the insides of your bathroom cupboards and drawers so that they will look completely clean and new.

White and neutrals together is the color scheme of the moment. A bathroom with walls newly painted in white will instantly look more spacious and more modern. Defining detail can be picked out with beige or gray, whichever you choose. Turn a fan on in the bathroom, to help the paint dry quickly.

Do not skip painting the ceiling, even if you think it will be okay. If you leave it, it will really look stale compared to the new white paint. Before you paint the walls, scrub everything that is scrubbable. In a bathroom that probably means absolutely everything.

Use sealant cleaner to remove the grubby look of old sealant. If it is really bad, scrape it off and replace it when you will know that you will have 24 hours in which to let it dry.

While the sealant and paintwork is drying, go through everything in your box of bathroom 'stuff' that you emptied from the cabinets. Throw out (or combine) duplicates, trash out of date prescriptions and expired vitamin pills. Do you 'bulk buy' the large sizes of bathroom goods? If you need extra space for large items in your bathroom, hang a shelf high above the bathroom door, on the inside of the bathroom.

The new trend for bathrooms is simplicity of design and color, and for the ambience to suggest that it is a 'haven'. This means that after the functional morning rush, when evening comes, you can add soft music and a candle for the bathroom to be turned into a haven.

Do you have room near the bath tub for a small table on which to rest a magazine or a glass of wine? This can further the haven theme, but keep other clutter to a minimum.

It is tempting with all this whiteness to add a brightly colored bathroom mat, but resist! The trend is for silver gray mats and towels, or a medium beige color scheme. If you really must have a color, then a very pale fresh apple green is acceptable. If your floor is dark you can pick white towels and bath mats.

For maximum cheapest effect, splash out (no pun intended!) on a modern faucet - and enjoy.

National Rental Properties is the premier online resource for bringing prospective tenants together with quality American homes for rent. Find Florida rental properties by visiting www.NationalRentalProperties.com.

Move Over Granny! - Digital Kitchens

Michael Peterson (rentalproperties.ca) — Thu, 20 Mar 2008 16:12:41 -0500

According to the latest trends in kitchens, most of us have a kitchen that is soon to be outdated! New fads are being introduced into the kitchen which could catch on.

This news is according to a company which has carried out a survey called the "Digital Design Study". The title of the survey gives you a clue as to what is missing and what is most desired in the latest kitchen.

One of the big differences in this innovative survey was that the public were asked which digital features they would like to see in their kitchen, so that their wishes could be re-created in a one-off kitchen design.

Internet Home Alliance Survey presented 22 concepts and asked over 600 families which features they would rather see in their home; here, the top four are examined.

One of the top recommendations was a recipe projection system, to replace the old 'cook-book'. No more messy spills on the cook-book pages. Instead you just view your recipe on a screen and have both hands free for cooking.

Other ideas included a universal charging station and a digital calendar. This calendar is for all the family to access, so that each member can see where others are at a certain time of the day. Or maybe it is so that the chief cook and bottle washer can be tracked at any time of the day?

It is not so unusual these days for kitchens to boast desk areas that match the kitchen units. They are usually fitted right into your counter top and help to tidy up the clutter of paperwork that gathers on top of (some people's) kitchen counters.

This would be an ideal place to both keep your computer and arrange your digital planner. If the desk area is small, the computer can be set up on the wall behind it, in order to keep the desk free. A flat screen computer works well in this type of situation.

Some of the new kitchen digital 'toys' could also be planned into the appliances: Industry is rising to the call and refrigerators have been designed that will carry some of them neatly on the door.

For instance, there will soon be choices of refrigerators in the stores, with an available port to connect a DVD player, a radio or a digital photo album.

Yet another appliance company will be offering a double door fridge with a 'high-def' screen on one door and an LCD screen on the other which will display local bulletins. This model will also include a digital photo frame and dozens of pre-loaded recipes.

Of the top four choices, the final one chosen by the participants in the survey was a monitoring and control system for domestic energy usage.

Although the goal of the study was to garner public input for the design of the ideal 'digital kitchen' of the future in order to develop a prototype kitchen for industry shows, it also gives a glimpse into what we can expect to see soon in our homes.

National Rental Properties is the premier online resource for bringing prospective tenants together with quality American homes for rent. Find Arizona rental properties by visiting www.NationalRentalProperties.com.

How Clean is Your Home?

Michael Peterson (rentalproperties.ca) — Thu, 20 Mar 2008 16:12:06 -0500

How clean is your home? Unless you already own a 'HEPA' approved vacuum, it could be full of dust, dust mite feces (!), dead human skin, pollen, pet dander, bacteria, mold spores and viruses! An efficient vacuum cleaner is one of the best tools you can have if you or your family suffers from allergies.

These days, science finds out more and more about lungs, pollution, dust and breathing, so it is worth checking out the latest ideas in floor cleaners if you have allergies.

The magic wording for anti-allergen help is HEPA, which translates into "High Efficiency Particulate Air Filters". The U.S. Department of Energy (DOE) has regulated this code so that a certain standard has to be met by all vacuums that carry this label.

The market is very crafty in this regard, as HEPA may be quoted on a vacuum but it will not meet the DOE criteria which asthmatics etc., will want to buy.

The reason it is easy to be fooled is because the vacuums will state such claims as: 'HEPA-type', '99% HEPA' or 'HEPA-like'. Naturally, you may think this sounds close enough, but it is not and that 'misleading' type of label means that it has not been tested in the same laboratories as the Department of Energy approved HEPA vacuums.

HEPA filters are sought after because they guarantee to remove 99.97% of airborne particles that are 0.3 micrometers in diameter. These are thought to be the most difficult size to trap. Smaller (0.1) and larger (0.4) particles are also trapped by the filter.

The HEPA vacuum uses three different methods to trap airborne particles. They are caught by interception, where the particle adheres in the fiber of the filter, or by impaction, where the force of air embeds a particle into the membrane, and finally by diffusion, where a particle collides with others and is delayed or impeded long enough for it to become trapped by one of the previous two methods.

The reason that these HEPA filters were originally engineered to such a high degree of efficiency is because they were masterminded in the 1940s to prevent the spread of radioactive contaminants that were airborne. Who would have thought that a piece of dust could be investigated so technically?

Since then, the HEPA filters have been used for hospitals, nuclear power, electronic micro circuitry and aerospace. The high standard of the original HEPA was categorized by DOE and has now become a registered trademark.

When a HEPA filter is used in a vacuum cleaner, it is particularly beneficial for asthmatics as the filter traps pollen and dust mite feces, which trigger the symptoms. The vacuum must have a more powerful motor than normal because of the density of the filter. It must also be designed so that all the air drawn into the vacuum is passed through the filter before it leaves the machine.

Many brands offer HEPA filters including some of the following: Sears, Eureka, Dirt Devil, Miele, Fantom, Air Storm and Bissell. The Allergy Buyers Club makes several recommendations for quality vacuums, and also carries a chart comparing HEPA vacuums on their web site.

National Rental Properties is the premier online resource for bringing prospective tenants together with quality American rental property listings. Find California rental properties by visiting www.NationalRentalProperties.com.

Time to Hunker Down

Michael Peterson (rentalproperties.ca) — Mon, 07 Jan 2008 15:26:31 -0600

The credit situation appears to be tightening; many homes have lost equity that was built up in them and oil went up to $100.00 per barrel. Sounds grim, but as long as we feel that we can weather tough situations until they pass, we can remain cheerful. Time for us to start hunkering down and save a buck or two.

There are several ways to save money, and several ways to make money. Making money will often require expenditure; with the price of gas expected to reach four dollars per gallon before spring, maybe we will look at saving money! This has to be a conscious thing that requires willpower. Saving energy in our home is like saving money for ourselves, and a few small home improvements can cut down our living costs.

Double glazed window units will decrease the amount of your heating bills. If this sounds too expensive, practice some smaller economies: special 'cling film' packs to double-glaze your windows are inexpensive and effective. They can be installed easily by you.

Changing the filter in your furnace helps it to run more efficiently. Buying the expensive energy efficient light bulbs is a cost-cutter as they will cut 75% of your costs and they last for ages! Think of closing heavy drapes over your screen doors at night for the winter only. Good quality weather stripping around the front and back doors will cut down on drafts.

If you have an un-insulated basement, now would be a good time to insulate it; it is not a difficult job and it is one of the improvements that will greatly decrease the size of your heating bill. Meantime if you feel cold air coming up from the basement, think of hanging a curtain or install a permanent door to block off the part that is not heated.

Be sensible with your appliances, only run the dishwasher and the washing machine when they are full. Use cold water to wash your clothes in. Keep a clothes line or a clothes horse in the laundry room and partly dry heavy items like towels on it overnight.

In the kitchen, turn off the dry cycle on the dishwasher and let the dishes sit overnight to dry. When you have the oven on, turn off the kitchen thermostat.

The average American family spends $1300 (nationally) per year on home heating, cooling, lighting and living, but they spend far more on food! Cook at home more often, and cook double of one meal so that it goes two days. (You can leave it in the fridge and wait one day in between!)

Other suggestions: use coupons, buy bulk, stop eating out and taking out. For the price of a cappuccino you can feed a family of four on home-made spaghetti and meat sauce. When you turn on the oven for a roast, cook tomorrow's meatloaf or baked squash and potatoes in their skins or apple pie with the same electricity.

If you are buying appliances for your home, chose the Energy Star rating. Keep checking your home for maintenance problems that can be dealt with before they grow into big problems, e.g. look for damp, pest infestation or water marks. Check the down pipes for efficient roof drainage. Finally when you go to bed, or leave the house, turn the thermostat down by five degrees.

This article was written on behalf of National Rental Properties, the premier online resource for bringing prospective tenants together with quality American home rentals. Find Iowa rental properties by visiting www.NationalRentalProperties.com.

Keep House Fires From Burning Your Home

Michael Peterson (rentalproperties.ca) — Mon, 07 Jan 2008 15:25:59 -0600

Losing everything we own in a house fire is devastating. Whether you rent or own the home, the results of a house fire can leave a whole family feeling as if they have lost their identity.

In today's society, our possessions represent more to us than just the means to survive. It is undisputable that even the toughest of us would feel an enormous sense of loss at being made destitute by fire. Knowing that precious things such as old family photographs are often irreplaceable, it would make sense that we would all go to great lengths to avoid a house fire.

Yet every twenty seconds an American Fire Department responds to a fire somewhere in the nation. Three quarters of all fires start in the home; 82% of all fire deaths occur in the home. There is a civilian fire death every 2 hours and a civilian fire injury every 23 minutes! Children aged less than five years old are twice as likely as others to die in a fire.

Since smoke alarms have been introduced, fire deaths have been cut in half, but many homes do not have an operational, connected and up to date smoke alarm.

Do you know how much a smoke alarm costs? Well under $50.00. While you are weighing up whether your life possessions are worth a $50.00 expenditure, here are a few fire-prevention tips:

If you hear a fire, or feel a hot door, do not open it. Just get out the window.

A large percentage of fires are caused by hot oil in a fry pan. Keep a small fire extinguisher handy. It is a good idea to familiarize yourself with how it works. It can be fairly daunting trying to calmly read the 'how to' instructions when the flames are leaping at the instruction leaflet!

Make sure your fire extinguisher is a type 'ABC' which is recommended for domestic use and deals with most type of burnable materials found in homes.

Keep all your family photos, or whatever is precious to you, in a heavy leather briefcase. If you store them this way and can't grab the briefcase as you run out of the house, it may survive a fire intact.

If you use a fireplace, ensure that the chimney is swept and inspected once a year. If you live in an old house, or if you are nervous about your wiring, pull out all the plugs at night. 'Standby' is still using energy and therefore able to facilitate a fire.

Have an escape plan; it could be as simple as keeping a coil of rope by the inside of your (upstairs) bedroom window. Keep a large towel and a bucket of water handy in case you need to throw a wet towel over yourself or others to get out. Remember most fires happen at night and you will likely be in your bedroom.

According to a report from the Fire Marshal's Public Fire Safety Council, 90% of residential fires are avoidable, and in some areas, as high as half the fires attended to had no fire alarm/smoke alarm system working. They reported the three 'popular' causes of homes fires which become leading fire death scenarios:

Home fire caused by smoking materials that ignite upholstered furniture in a living area at night. Home fire caused by smoking materials that ignite bedding in a sleeping area at night. Home fire caused by cooking equipment that is left unattended in the kitchen at night. In these scenarios, a working smoke alarm can make the difference between life and death.

Possessions are often irreplaceable and children are always irreplaceable; if you are a parent of young children, do you have a smoke alarm?

National Rental Properties is the premier online resource for bringing prospective tenants together with quality American home rentals all over the country. Find Colorado rental properties by visiting www.NationalRentalProperties.com

Installing Luxury Touches In The Rental Home

Michael Peterson (rentalproperties.ca) — Mon, 07 Jan 2008 15:25:09 -0600

Installing a luxury touch in the home, is often bypassed by folk living in rental properties because no-one really wants to invest their money for someone else's benefit!

However, some luxuries can be installed, and then if you move, they can move with you. This is the case with your own home theater and that is a real luxury touch in any home.

Prices of these have been dropping, and this may be one reason why home entertainment centers are becoming more popular. A harsh winter climate is another and an avid sports fan in the family is a third!

You would need a large rec room if you plan to incorporate a home theater, especially if you also want the rec room to be used for other purposes. If your rec room is large enough the home theater can be installed behind folding closet doors in one end of the rec room.

Otherwise, if you have a rec room and one other room, you could have a completely separate home theater. Remember, you don't need a room with a window for a home theater. Finally, you can install a home theater into a normal sized rec room, it may not be the first choice, but it could work. Let's look at the basic requirements.

A home theater will mean that in one room you will have a giant screen and two or four large speakers. Ideally you will also have to think about shelving for DVDs and extra seating.

Keeping your home theater separate from your rec room area can be done by use of cleverly designed cabinets. For some systems the cabinets would have to be very big.

This may require screening off one end of the room with large door fronts that appear to be room dividers. Another way would be to build a large closet-effect cabinet. Finally, you can actually buy movable room dividers or drapes to 'shut off' the home theater area when not in use.

Closing the area off will reduce clutter when the large screen is not in use. However, sufficient room must be allowed so that the air can circulate around the equipment when not in use.

Several factors must be taken into account when choosing a system. In a rental home you will not want to have built in speakers, so free standing ones will be your obvious choice. Along with this comes choosing the speaker size and the location of them; you may also want to consider heavy duty wiring.

In estimating the size of the screen, remember that too big is as bad as too small. Calculate how far you will be sitting from the screen and take the manufacturer's advice. If you are too close to a large screen you will always see certain distortions that are missed at a distance further away. You will probably only chose a wall mounted swivel for your screen if you plan to stay in your house a long time.

To feel really professional you could buy light-proof drapes. Also, remote control lighting is great, so that the whole audience - including you - can be seated as the lights go down!

Finally you will have to think about decor, shelving for all your DVDs, some sort of end table/coffee table placement and of course lots of seats. The norm is for two large sofas on each side wall and three or four armchairs, at the end of the room. This will allow for ten people.

As you plan to keep this investment for yourself, choose home theater equipment that is easy to dismantle and can therefore be moved into your next home. As the next home is an unknown factor, you will need to ensure that the technology is adaptable. You will also be well advised not to buy your equipment too big, as it is easier to bring chairs and sofas closer to the screen, but not so easy to move them away!

National Rental Properties is the premier online resource for bringing prospective tenants together with quality home rentals from all across the country. Find California rental properties by visiting www.NationalRentalProperties.com

Rent With Confidence and Smile!

Michael Peterson (rentalproperties.ca) — Fri, 23 Nov 2007 16:03:52 -0600

If things are getting tight with the mortgage rates these days, think about generating some extra income from your own home. Renting your own home (or part of it) is something that more of us should be considering. The conversion I will describe is easiest with a basement home.

There is a plus to giving up a couple of rooms in this way – houses with in-law suites will soon be in big demand as the baby boomers grow old!

Renting is good business sense and it is not the black area that many of us think it is. In fact, once you have tried it and realized how much stress it can relieve, you will probably be hooked!

But, if you try it without following some simple rules it could be a nightmare because you do need to have all your own family needs looked after. Here are some ways to foolproof yourself so that you can enjoy renting your home and having a boost to your income.

Do not consider renting without first having a separate entrance for the tenants. Many homes have this already, or you may have to give up your back door, or build yourself (or the new suite) a new back door. The cost of doing this will be realized in only a couple of months rent.

There will probably be small initial outlays: a door between your living accommodation and their rooms or suite. It is very simple to hang a door or make an interior wall with a door. It can also be easily removed if you wish to rent for only a few years.

If your home has a downstairs bathroom, you will have to give this up, unless you are happy with a shared situation. Beware of sharing as it may mean that your part of the home is accessible.

You do not need a full size stove, these days a microwave, a broiler oven and a small bar-sized sink will be sufficient.

Think about the car parking situation and ensure that it can be adequately solved. (i.e. one car of theirs in the driveway, one on the street?)

Do not share your garden as most purpose built apartments do not have this luxury, and you need your privacy. Remember gardens come right up to windows!!

Now that we have dealt with the physical characteristics of the house, we turn to you and your family. The single most important aspect for being a happy landlord is this: make sure the tenants have the same lifestyle as you. This may sound odd, so let me explain.

If you have a young family and the kids are racing around the house by 7 in the morning, you do not want a night-duty nurse downstairs trying to sleep! Alternatively, if like to be in bed with everything locked up and lights off at 10:30.p.m, you do not want a tenant who plays rap until 2.a.m. and then orders in a pizza. A quick solution to this is only request a career or professional couple.

If you like your home to look a certain way (e.g. all the drapes to remain in place, or no bikes outside, or no garbage bags by the door) then make sure you have these pointers written into an agreement, along with the hours about the noise and bedtime.

It is easier to remain detached and keep your privacy if you are not involved in any of the rental processes. Using the services of a rental company ensures that the legal aspects are all adhered to and allows you to maintain a strictly business-like attitude with your tenants. e.g. good morning and good evening if you pass in the driveway.

Do not become involved with the choosing process, the interviewing, the eliminating of unsuitable tenants and the checking of references.

Do not be the person who deals with any queries or complaints.

Do not be the person who collects rent, gives notice etc.

Just be the person who has a bank balance that expands every month without you lifting a finger!

This article was written on behalf of Michael Peterson. Michael specializes in national rental properties and help you search rental properties from all over the USA.

Rental Markets Rise as Home Sales Slump

Michael Peterson (rentalproperties.ca) — Tue, 30 Oct 2007 13:51:53 -0500

Two years ago, thousands of people rushed to get a piece of the booming housing market. Mortgages were easy to get, even for buyers with little or no credit. Once interest rates shifted however, buyers who received sub prime mortgages were no longer able to make their monthly payments. Now the housing market is being flooded with foreclosures.

Lenders have learned their lesson, and are much stricter with their lending policies. Now, many people who would like to enter the housing market are unable to obtain sufficient financing. This has led to a serious drought in the buyers' pool.

There are also many people who were considering buying a home, but have now been scared off by the rate of foreclosures. With buyers hesitant to make a purchase, sellers are having a tough time unloading their homes.

This stalled housing market has led to a substantial rise in the rental market.

Buyers who are unable to secure financing must face the reality that they can't purchase a home at this time. These folks need to sit tight in a rental unit while they work on building their credit rating, and save money for a down payment. Experts are saying that the housing market will bounce back within a year or two, so potential buyers should focus on improving their credit and financial situation until things shift.

Buyers who are eligible for home loans are also finding this a good time to take a step back until the housing market is on steadier ground. Young urban professionals Cheryl 28, and Raoul, 34, already have enough money in the bank for a down payment. Their credit is good, and both have steady incomes. They have decided to rent until interest rates go down. Says Cheryl, "With all the doom and gloom you see about real estate these days, we figured it'd be a good idea to just wait a year or two. We want a home, definitely, but we don't want to pay through the nose. We can save money for now by renting, so that's what we'll do until the market changes."

Many owners who have lost their homes to foreclosure are now heading into the renting world. Their credit has been badly damaged, and they don't have enough money to buy a new home. Without a suitable rental unit, many of these people would end up on the streets. They have no choice but to take a rental while they rebuild their financial security.

This foreclosure situation is the main reason that the cities that were booming in 2005 are now becoming rental hot spots. Places like Miami, where buyers flocked to scoop up the great housing deals, now find themselves in trouble. Foreclosures are most rampant in these cities, and the housing market has stalled completely. In these areas, where demand is high, there has been a substantial increase in rental rates. In other areas of the country, where new construction has led to an increase in available units, rents are decreasing slightly in order for landlords to remain competitive.

Consider riding out the housing market turmoil by renting. You can find a beautiful property to suit your family's needs, while saving money and building your credit at the same time.

National Rental Properties is the premier online resource for bringing rental properties together with prospective tenants. Search homes for rent from all over the country!

Vacation Rentals - Part III - Home Grown Marketing

Michael Peterson (rentalproperties.ca) — Tue, 16 Oct 2007 13:39:53 -0500

You've taken the plunge by purchasing this new property; now let's get it rented!

The internet is by far the most effective and cheapest form of global advertising. You'll find a myriad of web sites, such as DirectHomeRentals.com or a1vacations.com, which are available to market your rental world-wide. These sites usually provide a web page, detailed property descriptions, an online availability calendar, automatic updates, geographic indexing for easy viewer searches, and the ability to easily add photos and information.

These sites can be obtained for as low as $150/year, or free on NationalRentalProperties.com. When you're shopping around, ask if they provide any sort of reporting to let you know how many people are visiting your site and whether the links are being clicked on.

Rental sites provide tips, advice and often a forum where you can chat with other owners. They are extremely user friendly, which means it is easy for potential renters to locate the condo of their dreams and book it with the push of a button. Payment arrangements and deposits can also be accepted easily and securely through PayPal.

Photos are the next best thing to being there, so make the effort to obtain good quality, enticing shots for your web ad. Don't stop with the images; it's important to take extra care when composing the descriptions of the property in your ads. Karpinski has advised against using over used descriptive terms, such as beautiful, nice, spectacular and magnificent. She has suggested choosing from the following examples: clean, peaceful, romantic, spacious, classic, cozy, private, inviting, rustic, warm, secure/security, and well-appointed.

Word of mouth is an old standby; ensure everyone you know, has heard about your luxurious condo in Maui. Do be watchful for bargain hunters; your friends may be expecting freebies, and you need to let them know this is a business.

Newspaper and magazine ads can be effective, however their audience is much more limited than a web site and the cost is considerably higher.

Repeat visitors make your marketing job easy. Send thank you notes to your guests along with their final receipt, and offer them a bonus night if they re-book within a certain time limit.

These are forms of marketing your vacation property that are easy to implement. Don't get discouraged, give your business at least one full year to really get the word out; and soon you'll be amazed, the rental will be selling itself!

Reach your market! National Rental Properties provides listings for real estate owners and managers with property rentals. The site is free to use, whether you're looking for a house rental or placing an ad online.

Vacation Rentals - Part II - The Highs & Lows of Self-Management

Michael Peterson (rentalproperties.ca) — Tue, 16 Oct 2007 13:39:24 -0500

To self-manage or not to self-manage; this will be your first big decision as a property owner. Enlisting the help of a property management company can save you considerable time and worry. They deal with all aspects of renting, including greeting the guests, kicking them out (if necessary). repairs, cleaning, etc. In the event of an emergency, they can be minutes away. This service comes with a price, which is typically 10 to 20 percent of the gross rental income, sometimes higher; and that can deplete your mortgage paying cash flow. They do offer various packages where you can select to pay only for certain services.

If you don't have the time to handle the issues that will inevitably arise, or the ability to arrange sudden trips to deal with unexpected problems, then the peace of mind gained from using a property management company may be for you. You'll need to consider the following information when making your decision.

Protect your investment: An effective property owner protects their investment. This means you need to take responsibility and be involved in every aspect of the rental.

Keep your receipts: This is a business, after all; keep all your receipts associated with the trip and the purchase. Meet with your accountant to discuss your tax strategy.

Educate yourself: Learn about the Fair Housing Laws in the district of your rental; a violation of the rules could result in a fine as high as $25,000.

It is a rental, after all: Don't get too personal with your rental; your favorite colors may not be as well received by the average tenant. You may need to tone down your decorating style.

Read a book: There are numerous books written on the subject of managing vacation rentals, such as How to Rent Vacation Properties by Owner: The Complete Guide to Buy, Manage, Furnish, Rent, Maintain and Advertise Your Vacation Rental Investment, by Christine Hrib Karpinski. She discusses how you can cut out the middleman and be successful at self-management.

Be prepared: Make certain you set aside a nest egg in the event of sudden repairs or a season of low rentals. As Karpinski mentions in her book, aim for the magic "17 weeks". You can break even on the cost of your property, if your monthly mortgage payment is no more than one peak week rental and you are able to rent about 17 weeks per year. There are about 12 peak weeks in a rental year, and if you can rent these 12 weeks; the revenue will pay your mortgage for one year. If you have five additional off-week rentals; you will be able to cover additional costs such as phone, power, cable and condo fees.

Keep it Personal: Apart from the financial savings, cutting out the property manager allows you to remain closer to the renter. By making the effort to speak to each renter; you get the opportunity to create a personal relationship with them. Suddenly, they aren't renting a unit from a nameless landlord, and this condo becomes someone's home that they have a responsibility to look after. This simple action goes a long way to alleviate unnecessary damage as well as increasing the possibility of a repeat customer.

Can I bring Fido?: Vacation properties that accept pets increase their occupancy by 10 to 50 percent, and it also provides an additional method of beefing up your rentals during the off-seasons. Although pets do increase cleaning costs, it is customary to charge an additional $20-$25/night, which would easily cover the cost of having the carpet cleaned when they leave.

Look for shortcuts: Signing on with a property management company may give you peace of mind, but you don't need to use them for all your services. Find out where you can cut corners, such as hiring your own cleaning help. During the next visit to your rental, Karpinski suggests speaking to some of the maids cleaning nearby rooms; perhaps they add your unit to their cleaning schedule.

Vacation Rentals - Part I - Look Before You Leap!

Michael Peterson (rentalproperties.ca) — Tue, 16 Oct 2007 13:38:51 -0500

Imagine taking that trip to Maui every year without having to pay for an expensive condo rental. Maybe even set aside a few extra weeks for an extended holiday and have someone else pay the rent. Purchasing a vacation rental may give you this option, or the ability to travel whenever you choose using the income from the rentals to subsidize or pay off your mortgage. Not to mention, that you are diversifying your investment portfolio by adding a new piece of real estate.

Sounds great, doesn't it? In reality, this is a big step; make certain you know all the facts before signing on the dotted line.

Don't let emotions get in the way: Purchasing a vacation property is often an emotional buy. You're having a great time on holidays, a million miles from reality, and suddenly this attractive deal is put in front of you and it seems like a great idea. Most times, it is, but sometimes people will get home, look at each other and say, "What did we do?"

Commitment: Understand that this isn't someplace you can visit and then forget about for another year. A vacation property is an active business that will require your loving care to flourish; and whether you decide to employ a property management company or choose to self-manage, a certain amount of commitment and attention is essential.

Locations: If this is a property that you intend to use, make certain the location is someplace you want to return to, year after year. Also, if it's a plane trip away, realize also, that you may be required to make unplanned trips to deal with landlord/tenant issues.

Affordability: You have that nest egg set aside that will take care of the deposit, but what about those off-seasons where the property may not be rented. Like any home, you will experience emergency repairs or unexpected expenditures. Ensure that you can afford this piece of property; after all, you want to be able to sleep at night.

Due diligence: Make certain you are working with a reputable realtor who can guide you through the various laws in the area you are investing in, but you should also have some prior knowledge. Especially for "across the border" purchases, research the area so that you understand the implications of this acquisition, including the immigration policies regarding the length of time you are allowed to visit and how often.

Talking to other renters can provide invaluable, "don't let this happen to you" information, as well as tips on property management companies, cleaning help and anything associated with your rental. Before purchasing, I went through some of the online vacation rental sites, such as a1vacations.com, and searched for other rentals in the same location. I noted the owner's email or phone numbers and contacted them. They were extremely helpful and quite happy to share their stories.

So you've done your research and you're certain this is something you really want. Congratulations - enjoy your new property! For the next steps, read on to Part II - The Highs & Lows of Self-Management.

Cover Your Assets

Michael Peterson (rentalproperties.ca) — Fri, 31 Aug 2007 15:41:01 -0500

If you own a rental property, make sure your insurance coverage is protecting your investment. Most insurance companies offer specialized insurance packages for landlords and property owners that help cover any loss incurred by tenants, lawsuits, loss of rent and even terrorism. Though in many cases, regular household insurance will cover claims on rental properties, most household insurance policies aren't tailored to the needs of landlords and therefore don't address them. Sometimes simply having a tenant can make your home insurance policy null and void - so check the fine print!

LOSS OF PROPERTY

The most basic coverage will protect you against major losses in case of fire, high wind or other damages that make your property unrentable. All policies are different however, and no one policy will suit all landowners in all areas of the country. there are however, two basic types of policies to choose from:

1. NAMED PERIL policies require the policy holder to choose specific types of losses that will be insured against

2.COMPREHENSIVE policies provide much broader coverage and includes a wide variety of accidental losses. Despite the name however, most polices are not truly 'comprehensive.' Make sure to check the list of exclusions before you make your choice.

INSURANCE AGAINST TERRORISM?

Aside from flood damage, one of the most widespread exclusions right now are terrorist events. If you own a rental property in a major urban center, you might want to look into coverage that protects you against this as well. After 9/11, many agencies adjusted their policies to exclude "terrorist events" from basic coverage. The attacks, which cost the industry in excess of $40 billion, caused a backlash that saw most companies raise prices, raise deductibles, and alter polices to require policy holders to purchase terrorism insurance separately (if available).

Increasingly however, specialized landlord policies address this issue and provide some sort coverage for those who own rental property. Though burned by the attacks on the world trade center, support from the federal government has allowed insurers to get their courage back up and give landlords the kind of protection they've been asking for since 2001.

LOSS OF RENT

As part of their coverage for property owners, many companies offer additional insurance against loss of rent. In most cases this applies to situations in which the property becomes unrentable due to damage. When this happens, the insurance company will cover the rent on the property for a certain number of months. Other types of rent loss protection cover long periods of time when a property goes unrented that isn't due to damage or protect landlords against tenants who default on the rent.

Landlords with multiple rental properties or buildings will probably also want to consider insurance against lawsuits or policies that will cover legal fees in the case of a lawsuit. Keep in mind that because policies at different insurance agencies differ, you should shop around to find the coverage that best suits your needs.

Reach your market! National Rental Properties provides free listings for property managers and property owners with American rental properties. The site is free to use, whether you're looking for a place to rent or placing an ad online.

Attracting The Right Tenant

Michael Peterson (rentalproperties.ca) — Tue, 28 Aug 2007 14:20:49 -0500

Only 30% of Americans rent, which makes the rental market a specialized market with a variety of niches. If you want your suite, apartment or house to rent quickly and stay rented, the first step is understanding this market. Quite simply, a well-targeted unit will bring in more rental applications and stay rented longer because it gives people what they need. Even in a housing market that has a low vacancy rate, attracting good tenants is always a good idea.

Finding the balance between who the renters are and who you want to rent to will determine a number of things. Once you know the tenant you're attracting, you can evaluate whether or not your suite has what they’ll be looking for. Should you upgrade? Divide your rental house into smaller units? Lower the rent? Raise the rent? Don't skip this step! You can always add features or change your tactics.

WHO ARE THE RENTERS IN YOUR NEIGHBORHOOD?

The following list describes some common tenants and what they typically look for. Use it to get an idea of where to start when choosing the right tenant:

THE SINGLE STUDENT

If you have a small suite in a good location, this renter can be a good bet. Your suite will have to be on a major bus route or close to the school if you want to be in demand though. Your rent will also have to be affordable. Other than this – the single student doesn’t really need much. What they need:

>>Close proximity to college or university (walk or bike) OR Funky location along a major bus route

>>Cheap rent

>>Other bonuses include: internet connection, good cell phone reception, other students or social hub nearby, close to library, walking distance to grocery store, pet friendliness.

The single student doesn’t really ask for much. Often the thrill of living on their own for the first time is enough. Drawback: Though usually stable through the school year (September – May) the student will often pick up stakes and move back home when the school year is over.

Where to advertise: Online, housing boards at colleges and universities, local papers.

THE ROOMMATES (3 or MORE)

Think of this group of renters as a pseudo family because that’s often how they see themselves. Banding together for economy and companionship, the roommates are simply looking for a home. Though they are sometimes students, this group will be looking for more than the single student renter: features like yards, workshops or basements that can be used as common areas are bonuses. What they need:

>>Space (three bedrooms or more plus common areas)

>>Economy: Rent that’s cheaper per person than a one bedroom or bachelor unit

>>Close to bus route or walk to town

>>A house or suite that has a good balance of style, flexibility or urban location. Internet connection and good cell phone reception are bonuses.

If the roommates have a strong leader that you communicate well with, this group can take care of and keep your property rented steadily for years. When the house line-up inevitably changes, the leader will make sure rent still gets paid. Keep an eye out for the groups who are looking for a “home” as opposed to those who are looking to “party.” The former will plant gardens and paint rooms if you let them, the latter will just trash the place.

Where to advertise: Online, local papers, housing boards at colleges and universities, outside the unit, on local bulletin boards.

THE SINGLE-PARENT OR YOUNG FAMILY

The single-parent family or young family can make great tenants. Usually stable, long-term renters that will not trash your house, these people are looking for a safe place for the children that can be afforded on a single income. What they need:

>>Space (two bedrooms or more plus common areas)

>>A yard or close proximity to parks, places to ride bikes, swim, hike etc.

>>Walking distance to schools

>>Rent that can be afforded on a single income

>>Appliances: fridge and stove essential. Unless your suite is next to a Laundromat, a washer dryer or W?D hook up is also essential. Dishwasher is a bonus.

A suburban location that students and young professionals are not usually attracted to will suit these renters. They will often (but not always!) sacrifice style for security, so if your house is in good shape but a bit out of style, consider these tenants.

Places to advertise: online, local papers, supermarket and community bulletin boards, outside the unit, local schools

THE YOUNG PROFESSIONALS

The young professional and the young professional couple can pay a little more, but usually demand a little more as well. Fortunately, more is relative. These tenants don’t have children which gives them great flexibility when it comes to space and location. They don’t need a big property or lots of rooms. They don’t need low rent. Studio spaces suit them fine. Luxury suites are nice. Rooms with views and atmosphere are attractive. Funky character suites are awesome. Rentals that are close to places to spend their money are good also. What they need:

>>Lifestyle through design: stylish living for these tenants is all in the details. Does your unit have high ceilings or a great view? Have you included extra appliances or high-end features? Is there a bidet, Jacuzzi or claw foot tub? Does the refrigerator make ice? These things matter and will allow you to charge a bit more. Do what you can to add beauty to your rental unit if you want to attract this tenant.

>>Lifestyle through location: an urban location is always an easy sell for this tenant. Usually close to work with access to nightlife and shops city dwellers may forgo design features in order to be close to the action.

Lifestyle is the number one criteria for this renter. The good news is that almost any unit can be renovated to attract them and rent can be raised accordingly. But do your homework! The competition here is fierce and includes starter homes and condos, which many in this group are ready to buy. Before you dump all kinds of money into renovations, make sure there aren't large numbers of "lifestyle" apartments and suites going un rented in your area.

Where to advertise: Online is very effective for this group especially when you include photos; local papers.

Increase your exposure! National Rental Properties is a great place for property managers and property owners to list American rental properties. The site is FREE to use, whether you're looking for a place to rent or placing an ad online. Visit us at www.nationalrentalproperties.com and start your search for the perfect tenant today.

Condos, Great Rental Properties

Michael Peterson (rentalproperties.ca) — Tue, 17 Jul 2007 15:09:37 -0500

In case you have not been paying a lot of attention to the real estate market lately, there are some changes afoot. The huge press on homes that has dominated the industry for several years has definitely cooled off and as a result there is a dramatic turn happening from seller's to buyer's market. However one thing that has not changed is this country's love affair with condos. New developments are still going up everywhere and most developments are selling out in the pre-construction phase. Now, many of these purchases are simply real estate prospecting and will be immediately listed upon completion of the building but those that are doing this know that there is great money to made in the condo sector.

Many are also getting their hands on condos before completion with the idea of renting the units once they are finished. This is a great way to build equity and assure yourself of a nice income once the project is done. One thing that any investor should keep in mind are the proposed regulations and rules for the new condo building. Some buildings will have restrictions on whether or not rentals are permitted and some will have a certain percentage of units that are available for rentals. If you are an owner that gets in on the ground level then you should be at the front of the line when the HOA is formed and should be able to have a say in how the rules are laid out.

One real security in this vein of investing is the fact that in most major cities there is a real need and growth market for clean, quality residences. If the complex is centrally located then all the better. Condos really lend themselves well to the rental market as many have great assets that come as additional bonuses to owners/renters. There is also the fact that typically, condo will be directed towards a higher class of renter as a new condo will fetch a fairly high monthly rate. You can easily target your property to young professionals and families that are looking for a real quality home and are not hesitant to pay an increased rent for the higher quality homes. Condos are just a fantastic investment whether you are looking for a home for yourself or for a rental property. with the reduced maintenance that condos require they are simply ideal.

Michael Peterson is a representative of NationalRentalProperties.com. The one-stop site for locating rental properties across the nation. Contact us anytime or visit us online at www.nationalrentalproperties.com

Having Trouble Selling? Why Not Rent?

Michael Peterson (rentalproperties.ca) — Tue, 17 Jul 2007 15:08:41 -0500

Sometimes, especially recently; the real estate market has seen a bit of a slump and some home owners who were set on selling their properties are having difficulty finding buyers. One thing that may not have occurred to them is to market their properties as vacation rentals and keep the equity! The vacation rental market is a multi-million dollar industry that has opened up new options for both owners and vacationers. The ideal of a cheaper alternative to the high priced resorts and hotels with the ability to cook and save money is a highly desirable concept. Although action on such properties can be highly seasonal depending on the location of the home, they can easily bring in enough to cover the operating and mortgage costs if marketed properly.

Right from the beginning this kind of option is really mostly going to be available to those who own homes in destination areas such as Florida, Arizona, California and areas where there are a high number of tourists and attractions. This is not to say that it cannot be done in other areas, simply that popular areas will have a higher probability of being booked more often. The trick with vacation rentals is to find the correct market and find out how to get the word out about your property. There are several ways to go about this task but likely the most successful will be establishing a web presence and making sure that your site shows up in searches for accommodations in the area. Traditional media can bring good exposure but advertising in newspapers and magazines is usually expensive and directed at a select market. Niche marketing does work to an extent but if you are looking to be booked constantly then you should take a wider approach to advertising. The internet really is the best marketing tool that you have at your disposal. Probably the most important aspect of your advertising online should be the pictures of the property. Make sure to have as many photos as possible, this way people will know what they are getting ahead of time and there will be no unpleasant surprises when guests arrive.

Renting for vacationers can be a nicely rewarding enterprise. If you are located a good distance from the property you want to engage the services of a property management company. They will be better situated to see to the day to day maintenance of the property. If you are unable to attend yourself then these companies can be of great help in assuring that tenants needs are dealt with and that the property is respected in the proper way. Like any other investment, vacation rentals can be very profitable, if planned and carried out in the proper manner.

Michael Peterson is a representative of NationalRentalProperties.com. The one-stop site for locating rental properties across the nation. Contact us anytime or visit us online at www.nationalrentalproperties.com