Flipping houses is a phenomenon which has started to slowly take over home care networks. Different channels or magazines which specialize in home care or renovation have begun to give more notice to the idea of flipping. It is not a new concept, however it is becoming increasingly more popular. Flipping a house is when you buy an older, run down, or possibly foreclosed house and renovate it using your own money (or investors' money if you are more lucky) for a profit. While it may sound easy, there are many things which you need to have a rather good knowledge of to complete this effectively. First, you need to have knowledge of construction. This may seem obvious, but many places have been left worse off than they were originally because someone bit off more than they could chew. You need to be able to identify supporting walls so you can maintain the structural integrity of a building versus a wall which is simply cosmetic. You also need to be able to realize when something is simply a cosmetic issue or if it is a sign of something more dangerous. Mold for instance may be cosmetic, but could be an indicator of a leaky pipe or roof. If you see something which looks like a crack, it could be the paint or it could be bad construction. These are things you need to be able to tell rather quickly before sinking more money into a house's repair than you'll get back in the return. On top of these things, you would also need a good electrician and plumber whom you could work with and trust. These are two points in house flipping which cannot be skimped on. Codes change constantly and you as the owner will be held liable if something is wrong with either. While it is true that you can go after whoever wronged you, at the end of the day it will be your reputation which is tarnished. Flipping larger buildings, while obviously on a much larger and more expensive scale, is really the same idea. It has been shown to have the possibility to be very lucrative and if done correctly, can continue to turn you a profit many years down the road. If you are interesting in beginning to flip houses or buildings, do your research first. You are going to want to be sure that it is something you think you can handle and maybe reach out to others who flip already to get an insider look. It is another way to vary your abilities, and will make you seem extremely well rounded if you can show you are successful in doing this as well.
Many first time or even older tenants often ask many questions. One of the questions which is asked often is, "Does this place allow pets?". Animals are a huge part of our society and pets are increasingly being used as more than a simple companion. New tenants often want the company that a pet will provide and many older tenants either do not wish to part with an animal who has been with them for quite a while or requires the help of a service pet. While there are laws against excluding service animals from different areas, many elderly and even younger people in increasing numbers, find comfort in having a pet which can help with a vast number of different issues. These can include physical disabilities such as seizures or diabetes, or it can help with mental illness such as anxiety or depression. Many autistic members of society also use animals to help them if there is an issue which causes them to be uncomfortable, as it gives them something tangible to hold to. There are, of course, pros and cons to allowing animals in your establishment. One of the largest concerns is if the animal tends to make a mess. The cleaning bill once your tenant vacates the area could be massive if the animal and owner were both unclean. It almost no longer matters if your flooring is hard wood or carpet, as both can be soiled to the point where they need to be replaced and, if the issue continues long enough, it may begin to effect the structural integrity of the building. This also brings up an issue of neighbors who may be able to smell any mess which the animal makes. This is also true for outside your building. If a tenant has a dog or other animal which uses the bathroom outside, and the owner does not clean up after their animal, many people coming to see your apartments will be quickly put off by the look and smell of the area. After all, if it appears that you don't care about how the outside of your building looks, how much better could the inside be? Another concern is allergies. If someone in the building is highly allergic, this could present a problem for you, as you are expected to create a place where all of your residents have a safe and secure area to live. This is especially true if someone with a bad allergy moves into the apartment after the original tenant and the area wasn't able to be correctly or thoroughly cleaned. Other areas for concern include noise. If a tenant has a noisy dog, cat, bird, or other animal which continually presents a problem, neighbors may be rather quick to complain or take to social media and other areas to express their discontent. This will present multiple issues for you in the future, as many people make a point to check reviews of areas which have been posted by real people before pursuing a meeting with the person in charge. If there are many negative reviews due to one person's loud or obnoxious pet, this can lose you a countless amount of customers. Despite all of these concerns, there are many reasons why allowing pets is a good business move. As previously stated, many people of all ages and backgrounds adore pets. After all, a simple trip online shows America's obsession with cat videos and dog pictures. This is, naturally, representative of the country's love for our four-legged, furry, or feathered counterparts. Allowing pets would obviously increase your customer base. Many people will refuse to live in a place which does not allow pets. People either have a deep connection to their pets, need their pets to provide services to them, to simply have no one else to care for. Perhaps the person has no one else who cares for them, and they cannot face the prospect of losing that connection with another living creature. Whatever the reason for wanting a pet, Americans are well known for spoiling them. This includes in their living environment. The ASPCA estimates that 37-47% of households own a dog and 30-37% have a cat. They believe that there are 70-80 million dogs have been adopted and 74-96 million cats have homes as well. Clearly, that is a large customer group you would be cutting out if pets were not allowed. Another reason for allowing pets would be to boost the friendly atmosphere of your building. People associate animals with happiness, as owning a pet has been shown to boost your health, both physically and mentally. A place which openly accepts animals seems more open to all people and more accepting of those who may be of a different walk of life. Those who are minorities for any reason may feel more calm walking into an area which holds their arms open to those which come with pets. Recently, many places have been experimenting with therapy animal rooms or days. Work places, colleges, even hospitals and nursing homes have been allowing therapy animals to come in and mingle with the people who spend their time there. In almost every situation, the location has been pleasantly surprised by how much productivity and positive emotions have risen. It helps people remain happy, which is a good thing no matter where you are. Naturally, the decision rests with you. You know what will be best for your building and what you want your business to stand for. The idea of having pets allowed is also not a binary option. It is not necessarily yes or no. You may choose, for instance, to allow certain kinds of animals. You may choose to only allow service animals. You may even choose to allow animals under a certain weight or of a certain species. The options are plentiful and none should be ignored. Once you have decided which you believe to be the best, advertise to those who would fit best in your community. Those who move in will always thank you in the long run.
If you own an apartment building, you may be able to keep one unit as a model to show to any prospective buyers. If so, there are multiple ways that you can set up the apartment to show to people that could work for your benefit. Here are a couple of ideas for you to keep the model apartment open to show. 1. Blank Space. No, I'm not talking about the pop song. I'm talking about having a completely empty apartment space to rent out so that anyone who comes to see the rental property can see the full extent of the dimensions available in the space. Some people prefer having an open area, a blank canvas if you will, to see when they first go to see an apartment. Unless you are fully furnishing the area, many people like to be able to picture where they will put their own possessions. Naturally, it would be a good idea to include any appliances that come with the apartment, but otherwise having an empty area may not be the worst idea for you. 2. Fully Furnished. Yes, this goes completely against the previous idea, but another option for you is to have your model apartment completely furnished with a nice touch of home look. Some people lack the vision to see how a place will look when they move everything of theirs in, and if you furnish the model apartment you can show the best layout to have the largest amount of room open. Instead of having a bed in the direct middle of the bedroom, try pushing it against another wall to show how much room there can be left over. 3. Mirrors and Windows. Windows are always a good selling point to apartments. They let in natural light and offer a view of the outside world. Unfortunately, not every apartment is above ground and so windows may be in short supply. If this is the case, try installing a few mirrors in smaller rooms, as they tend to help areas look larger and also help to brighten up rooms by reflecting the light back in. Having the luxury of a model apartment is a double edged sword. You will have to get a feel for the area and what works the best in regards to setups for you. Once you get that idea, however, you will likely be able to sell those apartments like hot cakes!
Math is considered a nasty four letter word by many of us in America. Some people are simply not wired to understand math the way others are. Generally, those who are not good at math are gifted in other subjects such like language and history or music, but unfortunately math is a critical skill that is needed to succeed in many areas. Rental property management is no exception. What happens when you want to rent out part of your house or your vacation home when you don't feel confident in your math skills? Here at Talley, we understand how frustrating it can be to want to do something but have something holding you back. This is part of the reason we started our business: to help you with yours. We want to help you reach your full potential, and trust us, there is nothing wrong with wanting some help. Even if your math skills are exquisite, perhaps you simply don't have the time to devote to dealing with all of the paperwork and calculations yourself. Everyone leads busy lives. Between work, family, and everything else that goes on sometimes you just can't seem to find enough hours in the day while still keeping yourself healthy. This is what we want to help you with and we gladly will. Our accounting services include collecting the monthly rent from tenants, keeping spreadsheets, and any other documents you as the client may find necessary. These can include having monthly statements, keeping a ledger, and many other things. One of the best things for you is the knowledge that we will keep your rental properties and your financial documents correct and legal as we comply with IRS regulations with no exceptions. These laws and rules can change often and can be difficult to keep up with while trying to lead your normal daily life. We are dedicated to making sure that you are kept safe from even simple mistakes. Here at Talley, we want you to be happy. We want to make sure that you are not stressed about any rentals which you may let out. Our goal is to keep everyone happy, from our clients to yours. There are many things that can go wrong, but with Talley you can rest assured that any financial information or gain will be safe so you can sleep easy.
All too often, things go wrong. It always seems to go wrong at the worst possible time and often feels like everything goes wrong at once. While some people believe that it is coincidence, others believe that it may be a karmic response. Others still may blame astrological occurrences such as mercury retrograde. Whether you believe it to be some larger power or simply how things work, the fact of the matter is nothing ever works forever. Things will always go wrong no matter what we try to do to stop it. Sometimes we thankfully have warning, and other times it happens at the drop of a hat. Unfortunately this can be the source of endless headaches and can leave you confused, frustrated, and sometimes feeling at your wits end. This is where we like to come in. Here at Talley, we offer many different services. One of the ones which we are most proud of is our property services. We work with people who work and respond quickly and have very reasonable prices for their services. While we more than understand if you would prefer to go with someone who you are well acquainted with, if you are not friends with any tradespeople, we can once again step in to help. One of the best things about our property services is the fact that we can provide 24-hour emergency care and maintenance to your tenants. We understand that emergencies can occur at any time and aren't always respectful of commonly observed business hours. We will always send someone to repair the problem as soon as possible and we will take the panic away from both the tenant and yourself. Another thing that we can help provide is regular maintenance for your rental property such as plumbing and electrical work. We understand that many people say they can do this work, however we want to make sure that you are legally covered and using someone who is licensed and insured. As previously stated, you never know when an emergency can occur. We also can help contact people who will help to get your rental property into move-in condition. This includes painters, cleaners, and others who can get your apartment looking its best. After all, the better looking the space is, the more willing to move in people will be!
Now that we are officially into the season of fall, a lot of things start to wind down. While a lot of times this does include people looking for new rental properties, that doesn't mean that those who have rented from you should be ignored as well. As the weather turns cooler, a lot of things become important and need to be attended to. Of course everything is dependent on what has been agreed upon in the lease, but sometimes things need to be thought of and dealt with in a timely manner. With the coming of autumn, we are all enchanted with the changing colors of leaves and the vibrancy that comes with it. Unfortunately, the leaves also fall and can leave a yard covered. Many different real estate sources, including the appraisal institute, state very clearly that having a yard that is unkempt can cost a seller vast amounts of money in the perceived value of the property. Although it can help to set the mood of the season by leaving the fallen leaves on the ground, many people may find it unsightly and possibly even complain depending on how your town handles neighbor disputes. In some towns, you can even be reported for having a yard that is not kept up to certain standards so be sure to read up on what the laws are in your specific area. Very often, if you are renting out a house the tenants are asked to keep the area neat and tidy. If, however, you are in charge of an apartment building, it is often left to the landlord to deal with the cleanup just like the snow removal would be in winter. Of course, this isn't always the case but it would be a good idea to explain all of this in any lease you put out. Autumn is normally a lovely time of the year and begins an important time in some religions. As beautiful as it can be, there are also many times that work is needed outside. Whether you garden or simply want to keep the lawns neat, it doesn't end when the weather turns colder and the grass stops growing. Thankfully, at least, it's a bit cooler so heat stroke and heat exhaustion isn't a large concern like it has been this past summer. Remember, if you are trying to rent out an area, simple things like raking the leaves may leave a better impression on any possible clients.
Charlotte—Talley Properties Inc.,a property management firm serving the Charlotte area real estate market has announced the opening of a property management office in Boone. The expansion allows service capabilities extending to Blowing Rock, Banner Elk, Linville, Valley Crusis, West Jefferson, Jefferson and Beech Mountain. Both property owners and tenants in Watauga, Avery and Ashe Counties will now have access to the full range of property management offered by Talley Properties. Michael Fink, who has been with Talley for over 10 years, will be serving as manager of the Boone office. According to Tony Moore, Operations Manager, Michael and his wife Andrea Miller Fink both grew up in the Boone area. "She is moving back home to join her family's law firm. The move is a perfect opportunity for us to expand into a community where Michael has such strong roots." He continued, "while we're primarily focused on residential and commercial property management, this Talley Properties office will expand into real estate sales, including investment properties." Prior to his position at Talley Properties, Fink was in property management at JRA. A graduate of Wake Technical College, he is a member of the Association of Realtors and the Appalachian Trail Conservancy. A native of West Jefferson, Fink now resides in Boone with his wife Andrea. They have one daughter, Ava. In addressing his position with Talley, Fink noted "It's our mission to do the job right... the first time. We owe that to everyone who comes to Talley for any aspect of property management. I'm looking forward to bring that dedication and service back home to the High Country!" Michael Fink With Talley Properties, property owners have complete access to their accounts online. Talley's state-of-the art property management software provides 24 hour access as well as full electronic transaction and reporting. In addition, tenants can access online property applications, payment options and accounting reports, even schedule property viewings both online and by phone, 24 /7. Talley Properties has specialized in midrange to high end residential and commercial property management since 1980. Their mission is to provide full service management to a diverse group of investors. With the goal to achieve long-term relationships with their investors, they pride themselves on the ability to be on call 24-hours a day, and provide quick, efficient same day service. Visit Talley Properties at www.talleyproperties.com or call 704-332-2206 (Charlotte area) 828-278-4976 (High Country).
Many things can be done to help prevent future problems for both you and your tenants. If you are the landlord of a rental property, you want to present yourself as the best person that can be rented from. Although there is no way you can think of everything, there are some simple things that you can do to make your tenant feel at ease and that can help prevent trouble for both parties. One of the first things you can do is so simple, many renters forget it: install and check smoke detectors. While the building you are renting should already have smoke detectors put up, not all of them do. Make sure that you put smoke detectors though the building according to your local fire department's suggestions. If the building already has smoke detectors in it, make sure to test them every month. Batteries should be replaced every six months, or as needed. If you have new tenants moving in, replace the batteries and test the detectors before they settle down in the building. This is a quick, easy, and inexpensive way of showing that you care for their well being. Another simple thing that you can do is to supply a couple of fire extinguishers for your rental property. Although these are a little more expensive than other items on this list, they will still only run you an average of $40 to $50 which, in the long run, is a small price to pay for assurance that your tenants are safe. Simply check to make sure the pressure gauge is in the green and there are no breaks or cracks in the hose to be sure that it is still functional. Another thing that you can do before a tenant moves in is purchase and install a carbon monoxide detector. Although carbon monoxide is less common, it still accounts for an average of 430 unintentional deaths in America every year. Since carbon monoxide is colorless and odorless, it is likely to go unnoticed unless there is a detector in the building. They cost around $20 to $25 on average and can (and have) save lives. All in all, keeping your tenants safe just takes a little bit of pre-planning. Although it is a tad bit more work for you, they will be extremely grateful if one of these steps happens to help save their lives.