• Five Things Your Property Agent Won’t Tell You

    Because of their experience in the field, your agent may have a lot to say to you, but to avoid an awkward situation, they prefer to swallow the hard pill and pray that you get to close on a deal soonest. Here is what your real estate professional wishes you knew but won’t tell you:

     

    1. You May Never Meet the House of Your Dreams

    Let’s face it—you are looking for a particular type of house that was designed by somebody you never met for someone unknown to you. How will they even know your preference? How will they know your likes or dislikes? You end up house-hunting for ages and never meeting that house that has stuck on your mind for years. To avoid being dropped as a client, save both you and your agent’s time.

     

    2. Don’t Talk About Race or Ethnicity

    If you are looking for a particular buyer or neighbourhood, you have to do the research yourself. Avoid being lazy and get on your feet to do due diligence. According to Fair Housing Act, it is unethical for the real estate professional to steer you to or from homes because of the prevalence of particular colour, race, religion, or disability.

     

    3. The Commission Is Not Set On a Rock

    Perhaps when the agent mentioned their fee you wished to ask them to give you a small discount on the amount. Some property clients usually fail to bargain with their real estate managers on the amount charged. The agent’s commission is perhaps the part of property selling that generates the most controversy. Fees are negotiable as long as you negotiate the price before signing any agreements. Feel free to negotiate when you feel the price is higher than you expected.

     

    4. Pre-Approval Is Just the Start

    Avoid getting into new loans or using credit cards immensely until after you closed on the house. It is even better to continue being frugal until after settling in the house for a few months and obtained a clear sense of how the new home ownership impacts your wallet. You will realize other costs surface the moment you become a proud owner of a new home. Some of the expenses that may arise may include repairs and inspections.

     

    5. The Commission Is Just a Drop in the Ocean

    With a range of market fees nowadays, the agent gets to spend 1% or less of the settling price. Remember that your agent deals with brokers and other agents to get the best deals in the market. Each side sets their fees, and the commission has to be split. Therefore, give your agent proper payment and a deal that he will feel indebted to you and give you consideration in future businesses.

     

    House buying can feel like a one-sided process. Whether as a buyer or seller, you may not get feedback from the agent’s side on what you are doing wrong. Following the above will ensure both you and your real estate professional have an easy time working together.

  • 5 Maitland Drive

    Welcome to 5 Maitland Drive, Barrie, ON!

     

    Spectacular Open Concept Detached 3 Bedroom Bungalow with pool!! Fully finished lower level with a cozy fireplace. Bright And Inviting, Beautiful Eat In Family Size Kitchen, Hardwood and Ceramics throughout, Inside Entry From oversized single Garage, Fully Fenced Private Back Yard, Cathedral Ceilings, Garden Shed, Excellent Location Near College, Hospital and 400 For Commuters.

    For more pictures and video: http://www.remaxchay.com/5MaitlandDrive

    Asking $439,900.00

    Here is the link to the virtual tour, you can also visit the photo gallery here on my Facebook page 

    Closest Hospital: Royal Victoria Hospital - http://www.rvh.on.ca/
    Municipal Administration Office : City of Barrie (2.9 KM) – http://www.barrie.ca/

    Closest Library: Barrie Public Library - Downtown Branch (2.7 KM )- http://www.library.barrie.on.ca/main.html

    Education: 
    Simcoe County District School Board: (705) 728-7570 , www.scdsb.on.ca 
    Simcoe Muskoka Catholic District School Board: (705) 722-3555 , www.smcdsb.on.ca 
    Conseil Scolaire De District Catholique Centre-Sud: 1-800-274-3764 , www.csdccs.edu.on.ca 
    Conseil Scolaire Viamonde: (416) 614-0844 , www.csviamonde.ca 
    Georgian College: (705) 728-1968 , www.georgianc.on.ca 
    Liaison College of Culinary Arts: (705) 720-2433 , www.liaisonbarrie.com 
     

    Local Elementary Schools 

    Steele Street Public School
    36 Steel St, Barrie, ON L4M 2E7
    (705) 728-9292
    Website: http://sst.scdsb.on.ca/

    St Monica’s Elementary Catholic School
    90 Steel St, Barrie, ON L4M 2E9
    (705) 726-8221

    Website: http://smo.schools.smcdsb.on.ca/

    Local Secondary Schools 

    East View Secondary School
    421 Grove St E, Barrie, ON L4M 5S1

    (705) 728-1321

    Website: http://eas.scdsb.on.ca/  

    St. Joseph’s Catholic High School
    243 Cundles Rd E, Barrie, ON L4M 6L1
    (705) 728-3120

    Website: http://sjo.schools.smcdsb.on.ca/

    Local School information: All efforts are made to ensure the school information provided conforms to all currently published data; however this data is frequently subject to change, revisions and review by each respectable school board and their appointed officials. As a result, no warranty can apply to the accuracy of the information provided herein. For further information regarding local school information, please contact the Simcoe County School board at www.scdsb.on.ca or the Simcoe Muskoka Catholic District School Board at www.smcdsb.on.ca . Other area schools, including French and Private schools may be available for this property.

    Your Professional Real Estate Resource,

    Brandon Schmidt 
    Broker - Re/Max Chay Realty Inc., Brokerage - ABR - Accredited Buyer Representative
    C: 705.733.4541E: brandon@brandonschmidt.ca

    Broker - Re/Max Chay Realty Inc., Brokerage - ABR - Accredited Buyer Representative
    C: 705.733.4541E: brandon@brandonschmidt.ca

  • 23 Thackeray Crescent

    Welcome to 23 Thackeray, Barrie, ON!

    First time to market on sought after street with premium lot, don’t miss this updated 2500 sq.ft home on pristine street with great lot, four bedrooms and three bathrooms, ceramic and hardwood throughout the main; kitchen has been updated with granite and back-splash with walkout to large deck that is perfect for summer BBQ and entertaining. Laundry and all bathrooms have been updated and home has been well maintained by the original owners.

    Don’t miss out on this one of a kind lot with amazing seasonal views of the city and Kempenfelt Bay both accentuated by tall trees, mature gardens and landscaping with an in-ground sprinklers system.

    For more pictures and video: www.remaxchay.com/23ThackerayCrescent

    Asking $699,900.00

     

    Here is the link to the virtual tour , you can also visit the photo gallery here on my Facebook page

     

    Closest Hospital: Royal Victoria Hospital - http://www.rvh.on.ca/

    Municipal Administration Office : City of Barrie (2.9 KM) – http://www.barrie.ca/

    Closest Library: Barrie Public Library - Downtown Branch (2.7 KM )-http://www.library.barrie.on.ca/main.html

     

    Education:

    Simcoe County District School Board: (705) 728-7570 , www.scdsb.on.ca

    Simcoe Muskoka Catholic District School Board: (705) 722-3555 , www.smcdsb.on.ca

    Conseil Scolaire De District Catholique Centre-Sud: 1-800-274-3764 , www.csdccs.edu.on.ca

    Conseil Scolaire Viamonde: (416) 614-0844 , www.csviamonde.ca

    Georgian College: (705) 728-1968 , www.georgianc.on.ca

    Liaison College of Culinary Arts: (705) 720-2433 , www.liaisonbarrie.com

     

     

    Local Elementary Schools

    Portage View Public School

    124 Letitia St, Barrie, ON L4N 1P5

    (705) 728-1302

    Website: http://por.scdsb.on.ca/

     

    St Mary’s Barrie Elementary Catholic School

    340 Leacock Dr, Barrie, ON L4N 6J8

    705) 726-1843

    Website: http://smb.schools.smcdsb.on.ca/

     

    Local Secondary Schools

    Barrie North Collegiate Institute

    110 Grove Street East, Barrie, ON L4M 2P3

    (705) 726-6541

    Website: http://nor.scdsb.on.ca/

    St. Joseph’s Catholic High School

    243 Cundles Rd E, Barrie, ON L4M 6L1

    (705) 728-3120

    Website: http://sjo.schools.smcdsb.on.ca/

     

    Local School information: All efforts are made to ensure the school information provided conforms to all currently published data; however this data is frequently subject to change, revisions and review by each respectable school board and their appointed officials. As a result, no warranty can apply to the accuracy of the information provided herein. For further information regarding local school information, please contact the Simcoe County School board at www.scdsb.on.ca or the Simcoe Muskoka Catholic District School Board at www.smcdsb.on.ca . Other area schools, including French and Private schools may be available for this property.

    Your Professional Real Estate Resource,

     

    Brandon Schmidt

    Broker - Re/Max Chay Realty Inc., Brokerage - ABR - Accredited Buyer Representative

    C: 705.733.4541E:brandon@brandonschmidt.ca

  • What Expectations Should You Have For Your Next Canadian Dream Home?

    Buying a home can be a complex task even if you think you know exactly what you are looking for. You may feel overwhelmed often and have second thoughts about each and every one of the houses that you have been looking at. If you are serious about buying a new Canadian home then you should be able to put together a list of expectations that you have for the house and for the search that will lead you to the right house.

    Here are just a few examples of the expectations that you can set for the new Canadian home that you and your sales representative will buy:

     

    Make Sure That It Has Enough Bedrooms

    There are many different aspects of a home that negotiable. You may have bedrooms on the south side of the home instead of on the north side. You may have one kitchen that connects to a dining room instead of separate rooms for each. The number of bedrooms that you must have often has a limit on what you can negotiate with. If you have children, you can buy a home with 2, 3, 4, or more bedrooms and likely fit the needs of your home. You will not be able to get away with having only one bedroom. When you buy a new home, you should expect it to have a minimal number of bedrooms with the possibility of extra space, but never settle for a home that has fewer bedrooms than you need.

     

    Make Sure It Has Enough Bathrooms

    Like bedrooms, you will need to ensure that you have enough bathrooms to meet your family’s needs. You may only need one bathroom, but there are plenty of homes on the market that do not offer one complete bathroom inside of the home. Make sure that if your family depends on indoor plumbing and a full bathroom that you have at least the minimal number of bathrooms that you need.

     

    Make Sure That It Comes with Enough of a Yard for You and You’re Family

    If you are going through the trouble to buy a new house to better meet the needs of your family, you are not going to want to settle on a small plot of land with no space to spend time outside in. You can always choose to sell off pieces of your yard or land, but it is very hard to talk with a neighbor and get them to give you more land if you want it later on. If you need a big yard or large plot of land, make this an expectation that you are not willing to compromise on.

     

    Make Sure That It Is Within a Reasonable Distance From Schools, Work, And Medical Facilities

    You will likely look at a number of houses that seem right, but will be wrong for one reason or another. You should always expect that your home will be within a reasonable distance from schools, your place of employment, and the medical facilities that you need in order for you and your family members to stay healthy. If your home is 2 hours away from your place of employment, you are not going to be very happy with your choice no matter how great the home is.

     

    Make Sure That It Fits Into Your Budget

    You should always expect that the next home that you will buy will fall into the budget that you have already established. If you are prone to buying items that are out of your price range, let your sales representative know that you do not even want to see homes that do not fit into your budget. Make your budget an expectation without negotiations will make you more successful in the long run.

  • What Can Go Wrong During A Sale?

    You may be wondering what could possibly go wrong with the sale that you are in the middle of right this very moment. While you will likely not encounter big problems that your sales representative cannot easily remedy, you may encounter small problems along your journey that are worthy of noting or notifying you of.

    Here are just a few problems that can go wrong during the sale of a house in Canada:

     

    Sellers Didn’t Complete the Repairs They Said That They Would

    During the negotiation process, potential buyers may decide that they can only offer the requested amount of money for the house if the house undergoes a few necessary repairs. The seller will often agree to these repairs just to make the sale. Unfortunately, many closing dates come around and the seller has not completed the repairs that they had agreed to.

     

    The Seller Backs Out Of a Sale

    The seller may decide that they no longer want to sell the house. They may also find a new buyer that is willing to purchase the house for a greater amount of money than the previous buyer is offering. The seller has a right to back out of the sale at the last minute, even if it does cause confusion and chaos.

     

    The Buyer Backs Out Of a Sale

    The buyer has little obligation to a house if they find that there is something wrong with it. The buyer may also find a home that better suits their needs before they have officially committed to the first house. In any case, a buyer can back out of a sale just as easily as a seller can.

     

    The House Fails Inspection Just Before Closing

    Most home buyers will have the house inspected before the sign the contract with the seller and the sales representative. This routine process will typically go smoothly, but for a few the failure of an inspection can abruptly cancel a sale.

     

    The Buyer Wasn’t Pre-Approved For the Mortgage

    Many new buyers think that they do not have to go through the process of getting pre-approved for a mortgage before they have figured out which house they would like to purchase. Unfortunately, the time that it takes to get approved for a mortgage is often lengthy and can significantly delay the closing of the home. Obviously, delaying this closing can cause a lot of problems for both the sellers and the buyers.

     

    The Buyer Didn’t Bring Enough Money for the Closing

    Stranger things have happened than a buyer that doesn’t bring enough money for a down payment to the closing of the house. This still does not mean that it is not a problem that could very easily go wrong during any sale. Keep in mind that if you are the seller, you should always ask your sales representative what the down payment will be.

     

    The Seller Cannot Move Out By the Agreed Deadline

    There are times when a seller just cannot make the necessary arrangements to move out by the time that they have given. In many instances this really isn’t an issue because the length of stay past the determined date ends up being just a few days. In other cases it can cause a true inconvenience for the family that has made plans to move into the new home.

     

    Pests Appear Just Before Closing

    This may sound silly at first, but there have been countless tales of skunks discovered under the front porch, coyotes in the ditch, and bear breaking into homes. This obviously doesn’t happen to everyone, but it is certainly one scenario to be aware of when working through the process of buying a home or selling your home.

  • Updating Your Home with Smart Technology

    If you are looking to make updates and upgrades to your home, consider the benefits of adding smart technology. "Smart House" technology is simply making aspects of your house, such as security, lighting, and thermostats, controllable via a mobile device. For those of you who are looking at selling your home soon, smart technology makes your home more attractive to younger home buyers. Even if you don't plan on going anywhere for awhile, smart updates often add convenience, are energy efficient, and they can even save you money. We have listed some of the most popular smart technology to add to your home.

     

    Smoke Detectors

    Having a smart smoke detector can save your life. Replacing your standard smoke detector with an internet connected one such as this well-reviewed model from Nest Protect means that you receive notifications when your alarm is going off, even when you're away from home. You also can silence the alarm from your phone if you accidentally set it off while cooking, and you don't have to remember to re-enable it like you do with a standard detector. The internet-connected alarms also alert you when the battery needs replaced.

     

    Climate Control

    Installing a smart thermostat is one of the best ways to save money and energy in your home. One study found that users saved between 10 and 15 percent on their heating and air conditioning bills with a smart thermostat. While programmable thermostats are nothing new, having one that you can control from anywhere can be convenient, plus these are often much easier to use than older programmable styles. With a smart thermostat, just enter in the temperature you want your house to be, and there you go. Some are able to sense whether or not you are home and adjust the temperature accordingly.

     

    Security

    From smart door locks to entire security systems, smart security is an excellent way to keep your home and family safer. Smart door locks allow you to open your door with your smartphone, and you can even let someone into your home when you aren't there, such as if your child or spouse lost their key. Some models allow you to program your locks to allow certain people in, and other models recognize when you are at the door and will automatically unlock.

     

    Security systems can alert you when there is someone on your property or trying to enter your home. Whether you have motion sensors or cameras, when something triggers the sensors or camera, you receive notification, and you can contact authorities with the information. If you have a camera, you can access it and see what is happening at home while you are away.

     

    Lighting

    Smart lighting is a great way to save energy and money on your electric bill. If you forget to turn off lights, you can turn them off from your smartphone or tablet. Some varieties of smart lighting can sense when you are in or out of a room and turn the lights on or off accordingly. Others have programmable dimming and brightening functions that you can set to what works best for your needs. With lighting costing over 10 percent of your electric bill, smart lighting can end up saving you quite a bit of money.

  • The Little Things Matter: Fix Them Up!

    If you are trying to sell a house in Canada, every little detail of the house could be the detail that makes or breaks a sale. That means, that everything from broken doors down to porches that have been bleached by the sun really do matter. Below you will find just a few details that seem small but make a big difference in whether you are going to sell your home or not.

     

    Broken Or Missing Door Trim

    Broken and missing door trim may not seem important to you, but they can indicate that you have been neglectful or careless with your home to potential new buyers. Do not leave yourself in this position. Spend a few dollars and make sure that the trim in your home is present, complete, and beautiful.

     

    Faded Porches And Outdoor Wooden Structures

    Buying stain for your porch, patio, or arch is as easy as spending just a few dollars on a discounted can of stain at the local hardware store. It takes an hour or two to apply properly depending on the area that needs covering, and can make your home dazzle to potential buyers.

     

    Broken Fences

    Broken fences are one of the biggest reasons that a large portion of the population will turn down an otherwise beautiful home. Broken fences are not the most appealing thing to look at, can be dangerous children and adults, and is completely useless to a family that wants to let their dog or cat run loose in what they hoped would be a fenced-in backyard. Fixing your fence can be as easy as searching for scrap wood around the neighborhood and painting the fence to make it look uniform.

     

    Uneven Yards

    Grassy hilly yards are fine, but yards with large drop-offs and rocky hills are very dangerous to both people and their pets. If you have any say in this situation, try to get your yard leveled before you officially list your home as “for sale”.

     

    Sun-Faded Paint In Rooms

    The sun is a very powerful force that can cause a lot of problems for wood in the backyard, the skin on your body, and the paint on the walls inside of your home. If you have noticed that this is a problem, then simply buy a bucket of paint and make the room look fresh again.

     

    Broken Tiles

    Broken tiles on the floor, in bathrooms, and in kitchens are easy to fix and can be done with just a few dollars depending on your situation. Even if the cost of fixing this portion of your home is a bit more than you expected, fixing the problem will increase the value of the home and bring in more potential buyers.

     

    Dangerous Steps

    Dangerous steps either need to be replaced, leveled, or reinforced. If you have stairs with open spaces on either side of them, then you should put in a rail to ensure the safety of anyone that may potentially use them. Dangerous steps are not only scary, but also a common reason that otherwise perfect homes are passed up.

     

    Unfinished Spaces

    Unfinished spaces are not only aesthetically hard to look at, but can also be dangerous. Leaving exposed electrical cords, unsafe water fixtures, and tools around can make a quick trip to the hospital every time your child enters the room. Not all unfinished spaces are a complete mess. Some of these spaces just need paint, trim, and a few odds and ends that need to be completed. If you are in this position, just finish the room and watch the value and foot traffic of your home skyrocket.

  • What You Need To Buy For Your First House

    What You Need To Buy For Your First House

    Congratulations on buying your very first Canadian house. This is a remarkably big step in your life and you should be more than happy to celebrate your wonderful accomplishment. The only problem? You really have nothing to put in your new Canadian house because this is your first house ever. This is really no problem at all with the list we have helped create for you.

    Remember, it is perfectly okay to start off with little to nothing for your new home except for clothing and a few items that you may have packed from a dorm room or from your parent’s home. Every new accomplishment takes a little bit of time, energy, and money to be perfect.

     

    First Thing First, Get A Bed

    If you truly have nothing other than a few items that you have gathered here or there, then your first investment should be a bed. You can choose to go all out and get a brand new bed and frame that are top of the line and make your investment now, or you can buy something used or lesser in quality until you can save up for the pieces that you would really like later on. You may choose to look into bedroom sets that include night stands and dressers if you would like to benefit from the discounts that often come with buying bundles, but it really is not necessary.

     

    Kitchen Table And Chairs

    Once you have secured a place to sleep, you should work on a place to eat and to serve meals. You may use camping or patio furniture at first if you are in a bind and need a quick fix, but if you can afford to buy a table and a few chairs for the kitchen or dining room, you will be far more comfortable.

     

    Quality Pots And Pans

    You need something to cook with. You may have a light set of dishes that your parents have allowed you to keep or a few random staple pieces from your college years, but you will eventually have to buy a handful of quality pots and pans to fill out your collection. You will be thankful later when you are eating well.

     

     “Other” Furniture

    The “other” furniture listed here includes anything that you do not necessarily need to live, but would make sense to have in a house. These items include couches, recliners, nightstands, dressers, coffee tables, desks, and hallway tables. Many houses have these items, but you only need them if you would like to have them.

     

    Build Your Theme: Statement Pieces

    Once you have ensured that you have all of the furniture that you need and have a quality arsenal of pots and pans, then you can move on to creating or solidifying a theme. You can use solid colors, a nautical theme, or just make your home cosy with a potted plant by the front door. What you choose to add to your home as your statement pieces are completely up to you.

     

    Take Home Advice

    Congratulations on taking this incredible step in your life. With the advice listed above, you are sure to have exactly what you need to show off the personal style you have waiting inside of you. Do not worry if you cannot afford to buy all of these things brand new or if you have to acquire just a few pieces at a time while you get adjusted to your new living arrangements. Once you have finished filling out your home, then you can sit back and enjoy the amazing accomplishments that you have been able to create for yourself.

  • What You Can Do If Your Home Isn’t Selling

    What You Can Do If Your Home Isn’t Selling

    Have you been trying to sell your beautiful, nearly perfect Canadian home for what seems to be quite a long time? If so, you are likely wondering why it is taking so long to sell and if there is anything you can do to speed the process up a bit.

    If this is you, here are a few things you can do to help the process if your Canadian home just isn’t selling as it is.

     

    Invest In A Good Set Of Paints

    It may sound silly, but any potential buyer that has ever seen photos of your home in catalogs, in person, or online can tell if you have use poor quality paints in your home. They can also tell if it has been a while since the last time you painted each room. These rooms just simply appear dirty, dull, or dingy even if you have taken the time and effort to hand wash each wall with care. If you can’t afford to repaint every room in your house with high quality paint, then make sure to focus on bathrooms and kitchens. When painting bathrooms and kitchens it is important to invest in a high quality primer paint with a light shade of a bright color. These bright colors will make the space look larger, cleaner, and more welcoming.

     

    Try Having Your Home Professionally Staged

    If you have tried for a while to sell your home in exactly the way that it is naturally, try investing the time and money into having your home professionally staged. These professionally know how to make potential buyers fall in love with the spaces in your home. They can make small spaces look cozy, larger, and useful. These qualities are what potential buyers are looking for because they ultimately want to see how they can best use the rooms in your home for their own purposes and enjoyment.

     

    Touch Up The Doors And Entryways

    The front door to your home will be one of the first things that any potential buyer will be looking at. It can actually deter buyers from wanting to see anymore of the home if it doesn’t look good from the road. Take the time to put a fresh layer of paint or stain on the door to cover any aging spots, dings, and scratches. If you are feeling festive, try decorating with a small wreath or door decoration that compliments whatever season you are selling your home in. Remember, the entryways inside of the house are easily touched up with stain as well and can transform the appeal of the home instantaneously to a handful of potential buyers.

     

    Fix All Of The Little Things

    You may not think that the tiny crack in the baseboard is a big deal to you, but it could make a difference to your potential buyer. Whenever a potential buyer sees a repair that they must do, then they start to notice each and every small detail from the dent in the door to the one spot behind the chair in the living room that is worn down from where your dog laid for years. You can start this process by checking all of the components of your home that you haven’t looked at in quite a while. Make sure all of the electrical covers are in good condition, that the windows seal well, and that you have covered any worn spots in the carpet.

  • Property Management Tips for New Landlords

    Proper management of your rental property is crucial to your success as a new landlord. One of the most vital aspects of this task is to foresee problems and prevent them before they occur. You also need to know your duties towards your tenants and how to relate to them to avoid any mishaps.

    Here are expert tips to help you manage your rental property.

     

    Screen Your Tenants

    Before renting out to tenants, check their background, credit history, and references. Slapdash tenant selection and screening methods only lead to future problems such as tenants who pay late or never pay at all, who keep company with undesirable people, or who trash your property. So, use written rental applications to help you vet your tenants before they move in.

     

    Write a Tenant/Landlord Agreement

    One of the most crucial steps is to enter into a written rental contract with your tenants. A typical residential agreement specifies vital rental terms that will dictate the landlord/tenant relationship. Among the most important provisions are the:

    • Name of the tenant

    • Length of tenancy

    • Security deposit amount

    • Party liable for particular repairs

    • Amount of rent

    • Allowance for pets

    Your lease agreement must specify when the rent is due, the acceptable forms of payment, if a grace period is granted, and whether returned checks and late fees apply.

     

    Make Prompt Repairs

    Always address the repair and maintenance needs and do the repairs when requested. If you don’t keep your property in top condition, you risk alienating your tenants, and they may have the right to withhold rent, do the repairs and subtract the cost from the rent. They may also sue you for any injuries incurred due to the faulty conditions, or move out of the premises without giving any prior notice.

     

    Moderate the Rent

    Moderating your rent will save you the stress of going for days or months without a tenant. Since the rents differ depending on the location, ask around and do some research to find out if you are charging competitive rents. Also, ascertain whether the rent is sufficient to cover your costs. Ensure you know the return rate you are getting out of your rental property.

     

    Provide Security

    Avoid letting your property and tenants be easy targets for criminals. Audit the security of your property and take the necessary steps to protect it. Often, the best security options such as trimmed landscaping, ample lighting, alarm systems, deadbolts, etc. are affordable. As a property owner, you must be aware of any criminal activities in and around your property. Many states require the landlord to protect the tenants from each other and also from criminals who enter the residential property.

     

    Get a Landlord’s Insurance

    Ensure you get a quote from an insurer who focuses on insuring investment properties. Your building insurance won’t cover you in case your tenant defaults to pay the rent or damages your property with a cost that exceeds the bond. Although it is not a legal requirement for you to obtain a landlord’s insurance policy, experts recommend doing so as soon as possible. Illness, the loss of a job, a broken marriage, or the death of a loved one can make a model tenant to become a defaulting tenant. Thus, it is always a good idea to be prepared.

     

    Give a Notice before Entering

    You need to know that your tenants have a right to privacy. So, whenever you plan on entering the rental premise, notify your tenants as soon as possible, at least 24 hours, or as required by the law.

    Managing a rental property is not as easy as most people think. However, you can make your journey of being a landlord to be as smooth as possible by following the above advice.