According to the National Emergency Number Association, there are roughly 240 million 9-1-1 calls in the United States every year. The NENA reports that in some communities as many as half of all calls come from cell phones. Sadly, non-emergency calls for things like losing a passport or locking yourself out of your apartment clog the system and slow down response time for legitimate emergencies.
Real estate investors scour the market looking for properties with rock-bottom pricing and potential for sky-high returns on investment. Older, distressed buildings have discounted price tags, but converting an aging building into a modern domicile with all the bells and whistles to attract new residents is expensive.
Jeanne M. Salvatore, senior vice president and consumer spokesperson for Insurance Institute Information, recommends that all homeowners take time to make a complete list of personal property to control their assets. Salvatore’s recommendations also apply to property managers. Working from a proactive vantage point, residential property managers who commit to an annual review of physical inventory stand to gain greater control over their return on assets.
Maintenance and repair costs can eat quickly into any landlord’s income, especially first-time landlords that don’t adequately protect themselves. If you’re looking for some ways to reduce your overall maintenance and repair costs, you’ll need to plan things through from the very beginning.
As the owner of rental properties, whether it be one or multiple units, annual inspections are a vital part of the process. Sometimes, you might have a long-term tenant that religiously renews that lease year after year – and you appreciate that. However, unless you employ a property manager to handle daily operations, property upkeep is your responsibility and you’ll need to perform the occasional inspection while a unit is still occupied.