You have a vested interest in keeping good tenants around. After all, a good relationship between you, your property manager and those living in your rental property is something to be cherished and nurtured. You want to be and can be in this for the long term with your renters. If a lease on your property is running out, however, and the future is unclear for tenants, there is something you can do about it. Real estate investing has many moving parts, and long-term buy and hold real estate has even more. Profitability is not just about finding and buying property but also about how you manage that investment.
For the real estate investor, there can be far more opportunities to grow your portfolio than just single-family rentals. By targeting demographics, it is possible to build a portfolio, or at least a segment of your portfolio, designed to attract a certian age demographic. It seems like a logical decision! We know that properties with seniors in mind are a great asset, but there are more niche demographics that can be targeted for valuable tenants and real estate investing at a slightly different pace.
Security deposits have a reputation for being a source of tension between tenants and owners, but they don’t have to be. Security deposits are a necessary way to safeguard your investment and encourage good tenants to take care of a property. There are plenty of steps you can take, whether you are working directly with tenants or having your property management handled by someone else, to make sure they are managed with honesty, fairness and efficiency. With these security deposit investment tips, you can avoid headaches and potential legal troubles.
Once upon a time, the American Dream was defined in part by the goal of homeownership. People dreamed of their own plot of land and picket fence and a place to call home. In this day and age, however, Americans are realizing that they can call a place home without owning it. The attitude of people toward rental housing is changing. While the majority of Americans still would like to own a home one day, 45% of current homeowners can see themselves turning to renting.