R.E.N.T.

"A new lease on life!"

Why All Real Estate Agents Should Handle Rentals

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Home rentals are on the rise. A recent USA Today article states that single-family rentals have increased by 30% over the last three years. Millennials are leading this trend and foregoing the traditional path of buying their own home in favor of the flexibility and simplicity of renting. With increased down-payment requirements, stricter lending guidelines and potential tax deduction changes, this trend is expected to continue in the coming years as well as more segments of society shift from home ownership to renting.

Over the years, many real estate agents have shunned the rental market in favor of working with home buyers and sellers. With the growth of the home rental market, this strategy limits their business growth and income. @RENTUS wants to help real estate agents take their business to the next level by giving them the tools they need to work with tenants and landlords.

The income property market has a number of components:
 Property acquisition
 Rental Marketing
 Tenant Screening
 Property Management
 Property Sales
Real estate agents can grow their business in all these areas. By learning the skills necessary to become the area expert for investment properties, the agent can build value by identifying potential properties, aiding with renovations and repairs and eventually property sales. An experienced landlord understands the value of having an investment-savvy real estate agent on their team. @RENTUS, we help agents understand how to identify opportunities for their clients. @RENTUS we will teach you how to become the Rental Expert in your area, how to earn a commission in 7-10 days, and have a client for life! The housing market is changing. Real estate agents who continue to focus on the traditional home buyer and seller market will eventually find themselves behind the crowd. @RENTUS provides a resource for tenants, landlords and real estate agents to learn everything they need to know to capitalize on the hot US rental market.

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Written by RENT US

December 12, 2017 at 5:28 pm

Posted in Uncategorized

5 Common Rental Scams and How to Avoid Them

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Most of the country is experiencing a red hot rental market. Finding a home in the limited, fast paced rental market can be challenging and stressful. Unfortunately, this can lead potential renters to fall prey to the many scams that have surfaced over the past few years. Here are a few of the most common and some advice about how to avoid them.

1. Fake Real Estate Services
Real estate service companies who offer to give you exclusive or pre-listing information
for a monthly fee. They offer lower priced rentals with little or no competition for a sign-
up or monthly fee. All properties legitimately available will be on public listing sites.

2. Showing Fees
Listings which seem “too good to be true” probably are. Scammers place a very low-
priced listing which looks amazing then ask for an upfront showing fee. A legitimate real
estate agent will never ask for any kind of an upfront fee to see a listing.

3. Clone Listings
In this case, a scammer will take a legitimate listing and copy-and- paste it on their own
site. This can be difficult to spot because they are real listings which have either expired
or at times are still active. If you are getting a strong push to provide any kind of
financial information or payment before seeing the home, it’s not a real listing.

4. No Personal Contact
This scam usually involves a vacant home. The scammer will list the home for rent and
then claim to be out-of- town or unavailable to show it. They might suggest you even
look through the windows to get a sense of the home. Then they pressure you to send a
first/last and deposit to “hold” the home until they can show it to you. They promise to
return your check if you don’t like it.

5. Fake Background Checks
Every landlord should check your credit before leasing their property. Scammers know
this and often ask for all your financial information, including your social security
numbers, before showing you the home. Always see a rental, ideally with a legitimate
real estate agent, before you provide any financial information. It makes sense in a hot
rental market that a landlord doesn’t want to “waste” time with a potential renter who
cannot afford it, but it’s more likely a scam.

Scammers are out there. Avoid losing money and valuable time when looking for your next rental by checking and double checking everything you find. Never pay anything up front, don’t give out your financial information to anyone until you are sure they are legitimate and double check listings through public real estate websites, like Zillow or Realtor.com. Taking a little time to think through requests can keep you from becoming a victim of rental scams in this hot rental market.

Written by RENT US

December 5, 2017 at 4:16 pm

Posted in Uncategorized

Do You Really Need a Realtor® to Help You Rent Your Property?

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Finding the right tenant for your rental property is critical to achieve your financial goals for your investment. Trying to market and lease the property yourself can be both time consuming and stressful. In addition, by trying to save a little money upfront, you could cost yourself many time over the cost of commission through vacancies and even evictions. The benefits of hiring a professional real estate agent are numerous, but here are a few of the best reasons to use an agent to lease your investment property.

  • They Know the Market Value – The main difference between a fully rented unit and a vacant one is the price. A real estate agent knows the market and can help guide you to price your rental properly. They will make sure you don’t over-price or under-price for the market.
  • Published Listings – Real estate agents will market your listing on the MLS (multiple
    listing service) which allows it to be seen locally as well as globally. This gives you the best exposure possible.
  • Arrange Showings – Using a professional real estate agent means that you don’t need to take time out of your day to show your property, they will do it for you.
  • Background Checks – Real Estate offices have access to tenant screening programs.
    Your agent will check the prospective tenants’ credit scores and call references to
    ensure you know exactly who will rent your property.
  • Lease Agreements – It’s important to have a proper lease agreement in place. The lease agreement clearly explains the rules, conditions and responsibilities of all parties. This legal document also allows you to evict a tenant, in the event you need to do that. Finding the right tenant can mean the difference in meeting or exceeding your financial goals or having nothing but trouble, vacancies and even eviction costs. A professional Realtor® has the experience you need to find a good solid tenant for your rental property. Yes, they charge a fee, but this is a small price to pay for the peace of mind that you have a good tenant who will pay on time and care for your property.

Written by RENT US

November 28, 2017 at 4:14 pm

Posted in Uncategorized

Biggest Mistakes Landlords Make

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Owning rental property can be a solid addition to your investment portfolio providing diversification and a hedge against inflation. Properly managed, these investment properties can provide not only an increase in asset value but also passive income. Unfortunately landlords often find that instead of providing a nice cash flow they turn into money pits and hassles.

Regardless of whether you’re a first time landlord or own several properties, learning the biggest mistakes that landlords make can help you turn your project into the positive asset you’d intended.

  •  Overpricing the Property
    First and foremost, you need to get potential renters in to see the
    property. It’s important to understand that renters see rent as an
    expense with no real value to them. Since most renters now search
    online, it’s easy for them to see how your price stacks up to the
    competition. In addition, unlike home sales, very few renters think they
    can offer less than an advertised price, so they are more likely to pass on
    the viewing rather than offer less than asked.
  • Not Properly Cleaning and Repairing the Property
    Often landlords will attempt to do everything themselves to save
    money. This can include cleaning, handyman work, painting and possibly
    larger repairs. While they might save a little money up front, in the long
    run if the home is not cleaned and maintained correctly, it could lead to
    loss of rent, vacancy and costly repairs.
  • Inadequate Background Checks on Tenants
    Evicting a tenant is a long and costly process. Even with the proper
    documentation, you might find yourself fighting to remove a tenant for months. This can be avoided by doing proper background checks. Ask for and call references with a pre-made list of questions. Pull the FICO scores and review any concerns with the prospective tenant ahead of time.
  • Not Hiring a Good Property Management Company 

Don’t try to do this yourself. Hire an experienced property manager with a reputable company. A property management company can provide the experience and support you need to avoid and solve potential issues. They are the professionals and while they do charge a fee, in the long run you will find you get higher rents, better tenants and lower
maintenance costs by using a professional.

  • Not Having Proper Insurance Coverage
    Unfortunately things do happen. Someone trips on a step or a water
    leak causes damage to the unit below yours. Be prepared. Speak with
    your insurance agent to ensure you have all the coverage you need.
    Owning a rental property or a portfolio of rental properties is a great way to
    diversify your investments and build wealth. By avoiding common mistakes
    landlords make, you will find that investment properties provide asset
    appreciation and a good income stream, without costing you unnecessary money.

Written by RENT US

November 21, 2017 at 4:12 pm

Posted in Uncategorized

Buy vs Rent – Which is Right for You?

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Home ownership is the American Dream, right? A plot of land and picket fence that you can call home, isn’t that what everyone wants? Maybe, maybe not! More and more, people are postponing, or foregoing entirely, buying a home in favor of renting. Owning a home might not be right for everyone, understanding the pros and cons of renting might help you learn which makes the most sense for you and your family.

Pros of Renting
 Freedom – A renter can move from one state or city to another very easily. Go ahead
and take that dream job in New York without the hassle and worry of selling your home.
 No Upkeep/Lower Costs – A home requires maintenance. Owning a home might be
trading a day of wine tasting for an afternoon of raking leaves or unplugging a drain. You
pay only the rent, property taxes, insurance and repair bills are the responsibility of the
landlord.
 Investment Risk – Most people assume that over time a home will appreciate in value.
The truth is that isn’t always the case and you might not be able to predict when you
have to sell. Other investments might have a better return for a shorter period of time.

Cons of Renting
 No Asset Appreciation – Most often a home does appreciate in value during ownership
so while rent can be considered a “wasted expense” the mortgage payment increases
equity of an appreciating asset.
 Uncertain Rents – A renter is at the whim of the market, whereas a mortgage payment
is a fixed cost for many years.
 No Tax Advantages – Mortgage interest and property tax deductions can provide
thousands of tax advantages for the home owner. The renter does not have these
deductions, yet is paying a similar amount each month.

 Instability – The other side of having freedom is lack of certainty. A rental lease is
typically for a year or less, so the renter can find themselves without a home if the
landlord decides to sell or rent to someone willing to pay more for the property.
There are some wonderful reasons to buy a home, but that doesn’t mean it’s the right decision for you and your family. Consider your lifestyle and goals before you decide, you might find that the advantages of renting make more sense.

Written by RENT US

November 21, 2017 at 4:08 pm

Posted in Uncategorized

Tips every tenant/agent should know about security deposits

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“A security deposit is an amount of money you pay to your landlord to cover any damage incurred or necessary cleaning of the rental property once your lease has expired. It’s also one of the most common sources of disagreement between landlords and tenants.”

Click here to read the rest of the article

Written by RENT US

June 20, 2013 at 1:25 pm

Posted in Uncategorized

Adopt-A-Class Red’s Game

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Adopt-A-Class Red's Game

Had a great time at the Red’s game yesterday with our 5th graders from Holy Family!!

Written by RENT US

May 9, 2013 at 5:42 pm

Posted in Uncategorized