When you have to tell your tenant that you need to raise the rent this can become a very sensitive issue for you and the person renting from you. After a while most renters and landlords have had enough time to get friendly with each other and this can make raising the rent that much harder. Once you own a rental property you will see the business side of it and what it takes to break even or make a little money. As with any investment the ROI, or return on investment is what it’s all about and eventually raising rent will become a necessary part of the business that will keep your bills under control.

If all the other rental companies and landlords in your area are raising rents then it’s probably time for you to do so also. If you have done your research and see that this is true, then you probably won’t lose the tenant because once they start searching other properties then they will see that you are actually just charging what everyone else is and stay. Of course this would probably make them unhappy, but you are not charging more than anyone else for the same thing, and do they really want to move out and deal with relocating all their stuff just to pay the same price so they can get even with you, probably not. (more…)

Real estate has always proven an attractive market, ways to increase wealth according to the value of a property. While this market has always proven highly volatile, one of its more stable components is managing rental properties. With the recent downturn in home prices and the turn away from buying to renting, it perhaps has never been better to jump into the rental management business. But before you make the plunge, here are a few considerations to keep in mind.

Rental properties-especially foreclosures that you might pick up on the cheap-are prone to requiring constant repairs and maintenance. This is compounded if you let your apartment to renters who are particularly careless about the home’s upkeep. Not only do you need to carefully screen for quality renters, knowing how to-and having the time to-personally deal with household repairs can mean enormous savings over the long run. If you constantly have to contract a plumber, electrician, and a handyman, your bills can quickly overcome any income generated by the property. (more…)

Are you a landlord with tenant problems? Don’t Stress! This guide will walk you step by step through the process. You will learn all of the necessary action steps.

Sometimes no matter how well you screen a prospective tenant, you end up with a problem one. This is where your tenants need to be properly trained just like a new employee would. (more…)

Rancho Palos Verdes has several sub-areas, including the area known as West Palos Verdes. Sales of single family homes here have held steady for the last few years, which is pretty unusual for the South Bay. What is particularly noteworthy is that the median prices of these sales have had a surprising volatility.

Back in 2007, the median price exceeded $2,700,000, but then dropped to $2,100,000 the following year and then again to $1,200,000 this past year. It’s as though there are really two distinct markets within West Palos Verdes. On the one hand, there continue to be several sales below $1,000,000, but on the other hand there are many over $2,000,000. In 2008, more than half of all sales surpassed the $2,000,000 threshold, but less than a quarter did last year. To put this in perspective, back in 2000 the median sales price for a single family home was $645,000. (more…)

The mortgage broker’s role is to simplify the process for the home buyer. With the possibility now of rising interest rates a stark reality, existing mortgage holders will be keen to minimise the impact of higher standard variable mortgage rates.

Mortgage refinancing has become an extremely popular way for borrowers to save on their monthly repayments and to switch to more favourable terms with another lender. In making a home loan comparison, a borrower will look at a range of factors, including monthly repayments, but also the features and benefits of one product against another.

Mortgage refinancing is a competitive market and a borrower who does their homework can take advantage of the many offers in the marketplace. The best home loan for your needs today may not be the one you have at present.

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Welcome back to the 3rd part of our loan modification series.

Here is a quick recap of what we have covered thus far.

In part 1 we covered:

• A brief explanation of the situation.
• An explanation of basic rules to follow while going through the process.
• The issues/pitfalls you may run into throughout the process.
• Some of the more confusing aspects of the process.
• Trying the modification ourselves vs. hiring someone. (pros & cons)
• Questions to ask your customer service rep.
• Tips on how to stay on top of all the documentation and information being thrown around in the beginning.

Part 2 we covered:

• The initial and follow-up conversations with bank reps.
• Tips on how to make sure you are not GIVING you personal information away to the wrong people.
• How the “trial period” will affect a credit report and score.
• Where the money that is not being paid goes while in the trial period.
• How to separate real concerns from made up concerns. (more…)