Essential Tips for Rental Homes Owners

Essential Tips for Rental Homes Owners

For the first time rental property investor, managing your rental home can be challenging. However, with the right knowledge, it is possible to make rental home ownership an enjoyable and profitable venture. In this article, we look at some useful tips for rental homes owners that seasoned landlords wish they knew when they got started.   Legal Lease Agreements Keeping your rental business legal safeguards your interests and those of the tenant. It also ensures good relations between you with each party being clear on their rights and obligations. A lease agreement is a necessary tool for running a professional rental homes business. While it may be tempting to download lease templates, these may not adequately address issues relevant to your property including special rules and regulations. Getting a lawyer to do your lease agreements ensures they are watertight and can protect you from future litigation by disgruntled tenants. Some useful items landlords often forget to add to the lease include: Duration of Lease and renewal terms Official occupants of the rental Security deposit terms Maintenance agreements Right of entry for inspection Property rules and regulations Tenant Screening Getting the right tenants for your rental home makes property management easier. Good tenants maintain the house in good condition, pay rent on time and abide by the lease agreement. Your tenant screening process should, therefore, be thorough. Insist on letters of recommendation from previous landlords, personal identity, and employment details. Preparing a questionnaire can be a useful way to assess if a prospective tenant is right for your rental home. However, you must be careful not to discriminate against prospective...
How to Assess and Maximize Your Rental Income

How to Assess and Maximize Your Rental Income

As a rental property owner, it is natural to seek maximum profits from your investment. Some landlords find it hard to make a decent profit after expenses. However, there are many ways to increase your rental income even in a struggling real estate market. In this article, we will outline several ways you can assess and maximize your earnings. Avoid Vacancies Whether your property is a single family unit, a condo or a multi-unit apartment, you need to ensure you have few to none vacancies. This requires getting aggressive on marketing your property any time a lease is about to expire. A few ways you can fill rentals fast include: Free online marketing tools- you can save a lot of money on newspaper ads by posting on free property rental sites and social media. Most sites allow you to post photos and also prequalify potential tenants before showing the house. Organize open house days- At least twice a week, schedule multiple prospects to view the house thirty minutes apart. That way, you can show the house to more potential tenants without spending too much of your time there. Use realtors on a commission basis- Realtors have access to a wider network of renters and may be able to fill in a vacancy immediately it arises. Even though you have to part with commissions, it is still better than losing income through empty rentals. Keep up your Repairs All tenants want to live in a well-kept house. By routinely assessing your property and repairing damaged fixtures and fittings, happy tenants are more likely to renew their leases. While you may...
Keyrenter Property Management Franchise Ranked #25 in Entrepreneur Magazines Top New Franchise list

Keyrenter Property Management Franchise Ranked #25 in Entrepreneur Magazines Top New Franchise list

Keyrenter property management was recently ranked number 25 in Entrepreneur Magazines Top New Franchise list. The list by Entrepreneur Magazine was released in recognition of the best 100 companies that have been in the industry for less than five years. In addition to being among the Top New Franchise, we also made it to the Annual Top 500 list that was released in January this year. According to Jason Feifer, the editor in chief of Entrepreneur, the 2017 rankings attracted several franchise concepts that were highly competitive. The companies that submitted their franchise concepts are new in the industry but are making impressive progress in the industry. Feifer added that those companies are already taking the world by storm and are getting noteworthy attention in the franchise industry for providing innovative products and services. The technology used by these companies is equally impressive and is integrated into their marketing strategies. Making it to the top of the New Franchises list is attributable to our commitment to excellence in service delivery. In the last ten years, we have been providing management services to many homeowners across all states. We have been giving the best services to entrepreneurs looking for the best property management franchise in the country. Property management has become the perfect choice for homeowners looking for the perfect franchise fit. In the country, we have capitalized on the rising number of renters. Other factors that have been making the market favorable include: The increasing need for property managers in the country The high demand for rental houses since people must have a place to reside Low households incomes...

How to Use Technology to Improve Relations with Your Tenants

Managing one or more properties as a landlord can be stressful. Between making sure that you keep up with repairs, filling vacancies, and collecting rent, you have enough on your plate. Fortunately, there is plenty of technology available to help landlords manage relations with their tenants. By using these more efficient methods of collecting data, responding to requests, and organizing information, you can cut down on the time you spend doing paperwork and streamline all your processes. What Technologies Are Available for Landlords? There are dozens of mobile apps, web apps, and programs that have been specifically designed with landlords in mind. Good apps and programs will be user friendly, which means that you won’t have to spend very much time learning how to use the program. Here are some examples of how you could successfully use technology to improve tenant-landlord relations: • Provide online tenant applications forms for a quicker response time • Use an online work order form to organize repair requests • Install an app on a mobile device that saves photos and information regarding previous damage done to the apartment or home • Create online lease agreements to fill vacancies more quickly There is an abundance of technology at your fingertips. All you have to do is find the apps that have already been created or find a web or app developer who would be able to construct what you need. Other Ways to Make Being a Landlord Easier If you are just tired of the administrative work involved with being a landlord altogether, there are other options available to you. For instance, you could...
Why Keyrenter?

Why Keyrenter?

Our win-win business model was a project of love, painstakingly engineered to reduce work time, effort and stress for everyone involved, while you and your clients build a secure financial future. No prior experience in real estate or property management is required to build a true business empire. What you really need is a desire for success, a professional work ethic, and the ability to pay attention to detail. The Keyrenter business model is designed to reduce the time, effort, stress and money usually required to start a business. It’s proven to generate recurring monthly income and a steady stream of clients through automation and technology. Keyrenter is the perfect vehicle toward building equity in retirement. Why Property Management? Property management is not dependent on the state of the economy. In fact, the existing economy and real estate market has created a meteoric business trend resulting in a prime opportunity for the residential property management sector. Absentee property ownership is on the rise. First-time home owners are disappearing as lending restrictions tighten. More people are renting instead of buying. Everyone needs a place to live. Combine these factors, and you have a “perfect storm” effect that will explode the residential property management sector. The truth is, there’s never been a better time to consider a franchise business in this booming industry. Residential property management is not a passing fad. It is an important and necessary service that will continue to show increased demand. It can generate recurring revenue that grows larger and quicker than most people...