How to Advertise Your Metro Detroit Rental Property Successfully
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 …
Quick Guide to Effective Tenant Screening in Metro Detroit
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 Guide to 1031 Exchanges in Metro Detroit
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…
Top 8 Amenities Renters Can't Resist in Metro Detroit
When renters search for a new home, a property’s location is thought to be one of the most important factors they consider. However, when the properties are located in the same neighborhood, there can be very few factors to separate one rental property from the rest. A variety of amenities are among the factors that separate most properties that are listed on the rental market. These amenities should bring value to the user for the property to be more desirable in the rental market. Renters search for amenities that provide the most convenience…
What Exactly Is "Normal Wear and Tear"?
As a landlord, your rental property is bound to experience some type of damage during a tenancy. This damage can either be normal wear and tear or excessive damage. However, it may not always be easy for you to differentiate between the two types of rental damage. Consequently, you may end up in a conflict with your tenant in regards to the return of their security deposit. Luckily for you, in today’s article, you’re going to learn everything you need to learn about rental property damage! What Does the Term “Normal Wear and Tear” Mean? Norm…
