Lexington, KY Rental Issues Who Should Fix What? Tenant versus Landlord. Both Should Know Their Rights. Courtesy : http://www.realtytrac.com/news/real-estate-investing/the-home-flipping-pyramid/ One of the benefits of renting includes the option for tenants to defer home maintenance to the property owner or management company. When a pipe bursts or an appliance starts acting up, a renter simply needs to put in a call to their manager or landlord to fix the problem. While it may be true that owners and managers are required to keep up with most property maintenance, there are some areas of maintenance that become the tenant’s responsibility. Your tenants are expected to keep the property clean, dispose of trash properly, and need to avoid deliberate or negligent damage to the property. Most lease agreements require that a property should be returned in the same condition it was at the beginning of the lease term. Upon vacating a unit, if any damage is discovered or cle
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To Flip or Not to Flip?
While some may think home flipping is the domain of high-powered, highly capitalized institutional investors, the data suggests otherwise. More than two-thirds (69 percent) of all single family homes and condos flipped in the first quarter of 2017 were by investors of the mom-and-pop variety who just completed one flip during the quarter, according to an analysis of data from the A TTOM Data Solutions Q1 2017 U.S. Home Flipping Report . Stacked on that broad base of the pyramid are mid-tier investors who completed two to nine flips during the quarter and accounted for 20 percent of all home flips during the quarter. At the top of the pyramid are those mythical top-tier investors who completed more than 10 flips during the quarter (and only 3 percent of all flips were by investors who completed more than 100 flips during the quarter). But the pyramid turns upside down when looking at the average purchase price of homes flipped and average time to complete a flip, indicating the mom-
5 Qualities and Habits of Great Property Managers Source: Marc Courtenay http://www.propertymanager.com/2017/04/5-qualities-and-habits-of-great-property-managers/ Sometimes life is what happens while we’re making other plans. Other times life feels like it’s in the palm of our hands waiting for our decisions about what we want to make happen next. Maybe that’s the way our lives are supposed to feel. One of the things I know for sure is that you can learn a great deal about successful property management by watching those who are adroit at it. One of my “pet projects” is studying the habits, qualities and characteristics of highly successful property managers. Through the years I’ve discovered some consistencies they all seem to share. The first is what I call “brilliance”. I don’t mean they’re extra smart nor have an unusually high Intelligence Quota (IQ). Their “brilliance” shines in their daily approach to their work. Like this article implies, they’ve learned from o