Want to turn your home into a rental property?

✅ Use the following tips to do just that!

Get the right insurance
As soon as a tenant moves into your rental property, you assume certain risks and liabilities not covered by a typical homeowner’s insurance policy.

Get the right permits
You must acquire the right permits that prove the property meets these regulations.

Make repairs and upgrades
As with selling your house, the better it looks and functions, the more likely someone will want to rent it.

Set a competitive rental rate
You have to charge a monthly rental rate that covers the cost of your mortgage, property taxes and any other costs associated with the home.

Decide if being a landlord is right for you
You can hire a property management company to take over the landlord duties.

Find a good tenant
Take some time to educate yourself on fair housing laws.

Emma Co Personal Real Estate Corp | Macdonald Realty | 6046183888

Building VALUE With Every Move

Thinking of investing in a rental property? Here are several tips to help you make a good choice of property.

1. Do a thorough search
You can hire a property consultant to search available rentals but try to do some of the searching yourself, so you learn the market well.

2. Location is everything
Look for a community with a quality school system and try to choose a property that’s close to an abundance of work opportunities.

3. Pay attention to supply and demand
Check rental listings in a given area to determine the supply and demand ratio for rentals in that area.

4. Know the going rate for rent in the area
Find out what the going rate for rent is in the area you’re looking to buy.

5. Know what the future holds for the area
Be leery of condos and other mass rental properties on the horizon, however, as they may be stiff competition in the future.

Emma Co Personal Real Estate Corp | Macdonald Realty | 6046183888

Building VALUE With Every Move

In September, the Metro Vancouver housing market experienced a slowdown in price gains compared to earlier in the year. This was due to a decrease in sales and a slight increase in the number of homes available for sale in the region. 

The Real Estate Board of Greater Vancouver reported that residential home sales totaled 1,926, which was a 13.2% increase from the same month last year but still 26.3% below the 10-year average.

One reason for this slowdown is homeowners' reluctance to list their homes because of high mortgage rates. As a result, inventory levels remained low, causing prices to rise throughout the spring and summer months.

Let's chat! I would love to guide you through the ins and outs of the Vancouver real estate market. 

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Building VALUE With Every Move

✨ With these clever tricks, you can add color to your home without having to paint the walls

️ Here are five ways to take that drab color up a notch!

1. For the walls
Choose large art pieces that feature bold, bright colors.

2. Get creative with your furnishings
If browns, beiges, and whites abound in your rental, add a little color by bringing in colorful pieces of furniture.

3. For the windows
If you’re lucky enough to have a few big windows in your apartment, dress them up with colorful curtains or shades to bring in warmth and personality.

4. Accent pieces
Pillows, throws over the back of your couch, area rugs, etc. can add the punch of color your drab room is looking for.

5. Plants are your friends
Another great way to add color to an otherwise neutral rental is to bring in several plants.

Emma Co Personal Real Estate Corp | Macdonald Realty | 6046183888

Building VALUE With Every Move

Check Out These Smart Ways To Increase Your Rental Income

1. Use The Equity You Already Have
You can take out a Home Equity Line of Credit (HELOC), a home equity loan, or do a cash-out refinance on the first mortgage to get the funds you need to purchase another investment property.

2. Put Your Debt-to-income Ratio To Work For You
As far as the bank is concerned, if your first investment property is generating an income every month, or has the potential to generate an income every month, it is probably worth borrowing against for purchasing another investment property.

3. Increase Your Investment Portfolio
It stands to reason that the more you add to the number of investment properties you own without overextending your finances, the more rental income you stand to collect.

Emma Co Personal Real Estate Corp | Macdonald Realty | 6046183888

Building VALUE With Every Move

Unsure what to charge your tenants for rent?

The tips below can help you figure out how to set the correct rent price for your rental properties!

1. Research listings
While it may be time consuming, knowing what other landlords are asking for rent in a given area goes a long way to letting you know what you should charge.

2. Ask someone who knows
Anytime you want to know something, it’s always best to talk to someone who’s “been there, done that.” experience breeds success, so talk to others who have prior experience setting rent prices.

3. Compare actual rent prices in a given area
If you want to set the correct rent for your rental properties, you have to take the time to do your homework. The more you understand about the other rental properties in your area, the more able you will be in setting a price that generates you a profit while making your tenants happy. Use the information above to figure out how to set the correct rent price for your rental properties.

Emma Co Personal Real Estate Corp | Macdonald Realty | 6046183888

Building VALUE With Every Move

Household chores are a part of life, but that doesn’t mean you have to spend a lot of time or money on them.

Below, we share some of our best quick household tips.

1. Hide nicks in your flooring
This tip will help hide those problem areas until you can. Simply melt a crayon that closely matches the color of your flooring.

2. Don’t waste those soap pieces
Collect the pieces and use them by cutting a slit in a sponge and putting them inside.

3. Keep those chip bags closed
Stop buying those expensive chip clips to keep your chip bags closed.

4. Keep throw rugs and mats in place
Cut rubber shelf liner into strips and sew them onto the back of the rugs.

5. Put those plastic bags to good use
Keep a stash of plastic bags near your gift wrap station. Use them in place of tissue paper around gifts. You can also use them in boxes to protect items you plan to mail.

Emma Co Personal Real Estate Corp | Macdonald Realty | 6046183888

Building VALUE With Every Move

To help you find a buyer for your home quickly, use the four tips on how to sell your home fast listed above.

1. Be Reasonable About The Price From The Beginning
Whether it’s to make a profit or the outstanding balance is more than the property is worth, many sellers think starting high and then lowering the asking price later if it doesn’t sell is a smart thing to do.

2. Up Your Home’s Curb Appeal
Take the time to update the landscaping and take care of any repairs to the outside of the home that will make it look better.

3. Give Your Home A Modern Makeover
You can update your home’s interior cheaply and easily by updating fixtures and giving the walls a fresh coat of paint.

4. Give Buyers A Chance To Imagine
Take down family photos and remove any religious items. Give it a good deep cleaning (carpets, windows, etc.) or hire a cleaning company to do it for you.

Bonus: Be Courteous And Accommodating

Emma Co Personal Real Estate Corp | Macdonald Realty | 6046183888

Building VALUE With Every Move

Disposing of leftover paint incorrectly can be dangerous to humans and the environment

You actually have several options for getting rid of your excess paint, so keep reading to find the one that works best for you.

-Save It For Later

If you end up with a good deal of paint left after finishing your project, you might want to save it for later use. You never know when one of your precious angels will decide to turn a wall into a canvas or when a piece of furniture will need a touch-up.
To save excess paint, always leave it in its original container and label it with the date you opened it and which room it was used.

-Donate It

If you don’t plan to ever use the paint again, but you feel bad just tossing it out, try to find someone who might use it. Another option is to post your paint online to see if anyone in your local area can use it.

-Dry It Out To Throw It Out

You can, in most locations, throw away dried paint with your regular household garbage. It’s always wise to check the laws in your neck of the woods first before throwing out any type of paint.

-Let The Pros Do It If You’re Not Sure

If you just aren’t sure of the proper way to dispose of your leftover paint, you can let the professionals do it for you. Many home improvement stores will take your leftover paint and dispose of it properly.

-Estimate How Much Paint You’ll Need

For future paint projects, you can get an accurate estimate of how much paint you’ll need by heading to just about any brand-name paint website. Many of these sites have paint estimators that let you know how much paint to buy so there is very little left over. By using these estimators, you waste less money and contribute to a healthier environment for all.

Emma Co Personal Real Estate Corp | Macdonald Realty | 6046183888

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⚙️ Fixing small drywall holes is a cinch when you know what you’re doing. Here’s how!

Fixing Small Holes In DrywallThe easiest way to repair small holes in drywall is to purchase a drywall repair kit from any home improvement store.

Step 1 – Purchase A Piece Of Drywall
First thing’s first. Head to your local hardware store and buy a small sheet of drywall that’s the same thickness as the drywall you are repairing.

Step 2 – Measure & Cut
Measure the hole and cut a patch from the drywall sheet you just bought. Give yourself a couple of inches all the way around. Don’t cut through the paper backing as this will be what holds your patch in place.

Step 3 – Clean The Hole
Using a utility knife (or drywall saw if you have one) clean the inside of the hole to fit the patch you just cut. Make sure the hole’s edges are as smooth and square as possible so the patch fits perfectly.

Step 4 – Insert The Patch
Apply joint compound to the underside of the patch, paying special attention to the paper surrounding the patch itself. This will be what holds the patch in place. Insert the patch into the hole and press firmly on the paper surrounding the patch.

Step 5 – Prep The Area For Painting
Feather the compound outward, making sure the entire patch is covered and then some. When the compound dries, sand the area with a fine-grit sandpaper. It may take two or three layers of compound to make the patch blend completely with the wall.

Repairing Large Holes In Drywall
The instructions are basically the same, except you may need to use drywall screws to hold the patch in place against the studs in the wall.

Emma Co Personal Real Estate Corp | Macdonald Realty | 6046183888

Building VALUE With Every Move

Ever thought of buying a rental property.

If yes, consider these six features a profitable rental property should have!

1. Location
This feature determines what type of tenants the property attracts and how long they stay.

2. Property taxes
It’s important to check with the area assessment office for the tax history on a property you are considering.

3. Rent
The rent you collect on your investment property is the whole reason for owning the property in the first place.

4. Schools
Tenants with children or those who plan to have children want to live in neighborhoods with good schools.

5. Crime rates
No one wants to live in a crime-ridden neighborhood.

6. Local amenities
The more a neighborhood has to offer, the more tenants it attracts.

Emma Co Personal Real Estate Corp | Macdonald Realty | 6046183888

Building VALUE With Every Move

‍ If you’re thinking of remodeling your kitchen, you may be wondering whether the project will increase your home’s value and whether it’s worth the expense or not.

✨The answer may surprise you.

1. The Cost Of A Kitchen Remodel
The average household spends somewhere between $20,000 and $50,000 on renovating a kitchen. This often includes replacing appliances, countertops, and flooring, as well as the cabinet fronts and hardware.

2. Will Remodeling My Kitchen Make My Home Worth More?
The short answer is yes. Studies show that homebuyers rank the kitchen as one of the most important rooms in a home. They are often willing to pay more for features like new appliances and granite countertops.

3. Your Return On Investment With A Kitchen Renovation
The return on investment (ROI) you can expect with a kitchen renovation depends on several different factors. These include how big of a renovation you’re doing, the cost of making said upgrades, and what part of the country you live in.

4. Is A Kitchen Remodel Worth The Expense?
There is no one-size-fits-all answer to this question. However, if you plan to sell your home right after making kitchen upgrades, it makes little sense to spend $50,000 to do so only to recoup $30,000.

Emma Co Personal Real Estate Corp | Macdonald Realty | 6046183888

Building VALUE With Every Move
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