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San Antonio Investment Property

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You want to sell your home or investment property. Are you ready to sell it?



Are you ready for the finagling, offers and counter-offers? Can you handle the drama, the lights, cameras and all the action?

You can if you research before hand what today's real estate market is like for buying and selling homes.

Today, buyers do their homework. Therefore, you must do yours. When potential buyers walk through your doors, they have the knowledge, acquired from doing their homework. They will know exactly what they want. They will look for specific upgrades and features. They will know the market for comparable properties in your area.

You will have to give them a reason to choose yours. This is where the little things are important when it comes to selling homes and investment properties.

Right off the bat you have to make sure your product displays in the best possible light: clean, clean, clean. Then clean some more. This means top to bottom. Outside is where it all starts. Your home has to sparkle like a diamond. The 'wow' factor has to slap the potential buyer in the face as soon as they step foot in your driveway.

Make sure the driveway's swept and washed; make sure any potholes and cracks are fixed. Wash the windows from the outside, and the garage door, and anything else outside that needs cleaning. Wash the dog if he's going to be standing around out there.

Mow the lawn...unless you want to hide the dog.

Your garage: unless it's designated a production location for a remake of Sanford and Son, de-clutter it. Organize it. Sweep and wash down the floor, if you can find it! Neatness counts when it comes to selling a house.

Once inside give every room the critical eye. Of course, make sure any minor repairs get attention before a showing or open house. The major repairs should not be an issue; all accomplished well in advance. That dangling ceiling fan...has it been reattached properly or is ready to propel itself out the window? Those ceramic tiles in the bathroom; are they secured back in place? Does their continued falling play like a scene from the movie Earthquake? You won't be selling your home if people walk through it wide-eyed from fear.

Create an easy, unobstructed flow from room to room. Evoke a sense of freedom and spaciousness. Along with that, allow as much natural light into the home as is possible. When selling a house you want to create a positive atmosphere. You don't want potential buyers to feel they've entered a Dungeons and Dragons theme park.

Tone down your family's personality in the house. Give it the 'model home' aura to appeal to a wide range of personalities who will explore its features.

Consider this too, when selling your house: buyers want the best price in the best area. If the area you live in is a high-demand area, are you competitive in your price? Have you over priced because you feel buyers will pay it because of the attractiveness of the area? Homes similar to yours in size, style, upgrades and features may be lower-priced. They may sell fast, while yours lingers on the market. Of course, if you feel it deserves a higher price and are willing to wait it out, see where it takes you.

Selling your home, or any investment property, involves a commitment from yourself. You want the greatest return. You have to be willing to devote the time and energy in return, to ensure a successful sale. Buyers want the best price in the best location. You want the best price so you can move out of the location. It's up to you to do the things necessary to bring both sides together so it can happen.
San Antonio Investment Property
Being a landlord requires management skills, sales skills, and negotiation skills as you are constantly working with people (your tenants). One sensitive subject for both the landlord and tenant can be "How much is the rent going to be?" Once the tenant is living there, raising the rent is important but can be a delicate decision.

Keep in mind that you must keep your investment real estate business growing. To that end, you must keep your rents increasing at pace with the market and your rising costs. Raising the rent is simply part of managing your business smartly. Done correctly, it can be an easy and stress-free process.

Although every rental situation and each tenant/landlord relationship is different, I think raising the rent depends upon a couple items:

1. Is the tenant paying a fair market rent? If the rent is currently lower than market, it may be easy to raise it slightly as most tenants will realize they are getting a good deal where they are currently living. Plus they will not want to take on the added expense and time of moving.

2. When making your decision, ask yourself: "If the tenant decides to move because you are increasing the rent, can you re-rent the apartment for minimal cost and minimal or no vacant months?" If you increase the rent by $50 and the tenant decides to leave and you are left with a vacant $1200 per month apartment, was the increase worth it?

3. Consider that if you are increasing the rent in the spring, generally you can be more aggressive because it will be easier to re-rent that apartment in May than in December (at lease in colder climates).

4. If you are actively managing your lease renewals, you must be talking with the tenant 60-90 days prior to the lease renewal about their plans and any rent increases. This will give you time to re-rent the unit if the tenant chooses not not to renew.

5. Have the rent increase conversation with them verbally or in person. This will give you the opportunity to read their reaction to the increase. It is also more difficult for them to say no to your face.

6. If the tenant is hesitant about the increase, immediately see if they will accept the increase if you set the lease renewal to 18 months (locking their rent for that time) in exchange for the rent increase. This is actually an even better win for you as the landlord, as you have just locked them in as tenant for 6 extra months (and you got your rent increase).

7. When talking with your tenant, Use your best sales techniques to show them why they should both stay and accept the rent increase. At the end of the day, be honest. If the increase is related to increases in your costs, explain how your costs have changed. Most tenants can understand that taxes, insurance, or utilities do go up.

8. Lastly, if they are a great tenant consider simply leaving the rent at the same amount for another year. I would, however, let them know that you thought about a rent increase but "because they are such great tenants, you have decided to not change the rent for another year". This will set up the idea in their minds that you did them a favor and will get them to expect a rent increase next year.

Having your rents keep pace with your expenses and market rents is an critical part of running investment real estate business. Although it can seem intimidating at first, if you just take your time and think through the process with each tenant, it can be a simple process when lease renewal time comes around.
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Scott Ficek has sinced written about articles on various topics from Property Investment, Sell Home and Property Investment. Scott Ficek owns and manages almost 30 investment property units from single family to multi-family. He is also a Agent with RE/MAX Advantag. Scott Ficek's top article generates over 3600 views. to your Favourites.
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She also has great interest in poetry and paintings, hence she likes to write on these subjects as well. Currently writing for this website Automobile Dealer .
 
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