Getting Your Property Ready for the Short-Term Rental Market

Property

If you’ve always dreamed of owning a rental unit or an Airbnb property, now is a great time to get into the market. Highly rated rental units in tourist destinations can be booked solid, months in advance. Before you start taking reservations, however, you should get your ducks in a row so that you can start off with as few growing pains as possible.

Hire People To Help

Unless you are renting out a very tiny unit next door to your house, you are going to want to hire people to help you. To start with, call in an exterminator, a plumber and an electrician to give your systems a once-over. Nothing will kill your landlord dream faster than a series of one-star ratings and comments about “not enough hot water” or “broken A/C.” Once your property is given a clean bill of health, consider hiring a custodial service to be on call after each party checks out. Cleanliness is high on most renters’ “must have” list. Finally, investigate hiring a rental management Spanaway WA company. Unless you have experience taking reservations, handling money and dealing with minor complaints, it’s best to let the experts handle this aspect of the business.

Decorate in Style

The fun part of owning a rental unit is getting to decorate. Start with a blank canvas – white walls and easy to clean flooring. Then, decide what kind of vibe you want to give off such as shabby chic, beachy, artistic or sophisticated. Don’t go overboard with knick-knacks as they will tend to get broken or disappear. Instead focus on your color selections and wall art.

Advertise Well

Airbnb claims about 15% of the rental market. Booking.com and Agoda about 14%. Direct advertisement is responsible for over 35% of bookings, so build yourself a nice website and buy some SEO advertisement using keywords including area attractions.

Hopefully, after all your hard work, the money will start rolling in. Once you understand how to run a rental unit successfully, you can add additional units to your portfolio.…

3 Effective Tips To Help Your Home Stand Out on the Market

Wondering how you can set your home apart from other properties? Follow these three effective tips to prepare your home to move on the real estate market.

1. Make Minor Repairs

Taking time to make minor fixes around the house ensures that buyers get the impression that your home is well-maintained. Replace any burnt out light bulbs, make touchups to paint and make sure all mechanical items are in working order, especially your automatic garage door. Expert Clovis garage door repair gives new life to older garage doors, allowing homebuyers to focus on the positives of your property, instead of being distracted by the things that should be fixed.

2. Add Curb Appeal

Real estate experts agree that curb appeal grabs the attention of potential buyers and entices them to take a closer look at everything your property has to offer. Luckily, you can give your home a quick curb appeal update in just a weekend. Easy projects that provide a lot of visual appeal include painting the front door, installing new porch lighting and removing any landscape debris. Combine these three projects to add instant character and charm to your home’s exterior.

3. Declutter and Do a Deep Clean

It goes without saying that a dirty house is a huge turnoff to potential buyers. You need to do more than a simple cleaning before listing your home. Remove clutter, including all personal items, and place them in storage if necessary. Follow the decluttering with a deep cleaning, focusing on heavy-use areas like the kitchen and bathrooms. It also helps to power wash the exterior of your home for an extra curb appeal boost.

No matter where your home is located, a little prep work pays off when it comes time to sell. Follow these tips and you’ll make sure that your home is poised to sell from the moment you list it.…

Up-Front Expenses When Purchasing a Home

If you’re in the market for a new home, there are plenty of details to consider before making such a significant purchase. Whether you’ve just started browsing smithfield va real estate or have been searching for the perfect house for months, it’s important to keep in mind what you need to have on hand. When you’re prepared for the up-front costs of purchasing a home, you’ll be able to act quickly when you want to make an offer, especially in a competitive market.

Earnest Money Deposit

Before you start looking seriously for a potential purchase, it’s a good idea to have your down payment and closing cost funds readily accessible. Once your offer is accepted, you’ll need to put down an earnest money deposit. While the amount can vary based on many factors, the more you can put down right away, the more solid and attractive your offer will be. Regardless of the final number, this amount is typically fully refundable in the event that the sale doesn’t go through.

Home Inspection Fee

It is the buyer’s responsibility to pay for a home inspection. Fortunately, you can shop around for the right choice based on price, availability and services offered. This is a non refundable fee that must be paid out of pocket. However, it’s almost always required and is certainly an investment that will likely work in your favor.

Appraisal Fee

In addition to an inspection, your lender will require an appraisal to determine the true current value of your potential new home. In general, this is usually advantageous for the buyer, as it offers protection from overpaying for the property. This is also a nonrefundable fee, but you can save some cash by making sure the house is fully functioning and any updates are complete. Otherwise, you may have to pay an additional fee for a second visit from the appraiser.

Having the cash on hand for these out-of-pocket expenses can help make the home buying process a much easier one. Talk to your realtor today so you can be fully prepared.…