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Regular maintenance is necessary to keep your rental properties in good condition. But due to their size and complexity, multi-family residences may require more ongoing care than a simple single-family home. It is your responsibility as a property owner to find solutions to keeping your rental properties pristine. Whether that means working with a property management firm, engaging contractors, or performing upkeep on your own. The only way to keep the value of your investment is to remain on top of maintenance and repairs. The following are…

Part of managing a rental unit is dealing with tenant turnover. Sometimes your renters won’t renew their leases, while some are only meant to stay temporarily and will move back to their permanent address. When this happens, you must be prepared to get your unit rent-ready, with the right price, for future property showings with potential tenants. At Nelson Property Management, we believe the best way to land great renters, is to make sure your property is in its best condition. You can start by acting on the following points: Market Your Prop…

When your Metro Detroit rental home has quality tenants, your bottom line is healthy and your investment will grow. But this outcome can only be achieved using through skillful marketing – something that not all landlords know well. At Nelson Property Management, we know that advertising to your target renters gives you the best chance that you’ll attract the best quality ones, ensuring a steady stream of cashflow. Which is why we have put together the following article: The Need for Effective Rental Advertising When you’re able to market to …

Landing the right tenants leads to growth and profit! Landlords in the Detroit Metro area have one goal in common – renting to great tenants. But why? A dream tenant will ensure the best possible return on your investment by paying rent on time, caring for your property, notifying you of maintenance issues on time, and renting long-term, among many other things. But attracting the best tenant isn’t an easy process. You need a strategy that will ensure you are able to weed out potentially difficult tenants from your prospective tenant pool. T…

A 1031 Exchange is a provision within the tax laws that allow for real estate investors to defer taxes when they exchange one business or investment property for another. With federal and state taxation regulations, tax savings could be high as 15% to 30% of what you would normally pay. Section 1031 of the Internal Revenue Code serves manages this property swap. Provided all Internal Revenue Service regulations are strictly fulfilled, it permits one to exchange one investment or commercial building for a like-kind property. Then postpone the re…