Being a landlord is a risky job.
Reduce the risk with these four ways to protect yourself from troublesome tenants.
1. Educate Yourself And Know The Law
Managing a rental property requires more than just paying the mortgage on time and collecting rent. Renter issues arise often and vary in severity, so you must know where you stand in any given situation.
2. Stick To Documented Policies No Matter What
When a new tenant signs your rental contract, they are agreeing to all the policies and procedures set forth by you in that document. It’s important they understand everything before they sign, and it’s your job to make sure they do.
3. Document Everything That Happens
Investing in crm software can help you organize multiple tenants into a spreadsheet or something similar. How you choose to document your interactions with your tenants is up to you; just be sure you do.
4. Take Safety Precautions
Angry tenants are a real concern for landlords. You can’t please everyone all the time, especially when you’re a rental property owner. Rather than leave anything to chance, use the following tips to protect yourself and your family as much as possible.
· Never give out your home address.
· Make it possible for tenants to pay rent online
· Use a p.O. Box to collect mailed rent payments
Emma Co Personal Real Estate Corp | Macdonald Realty
emmaco.realty@gmail.com | 6046183888
Building VALUE With Every Move
🏘️ 4 types of real estate properties you should consider when investing in real estate.
️ 4 types of real estate properties you should consider when investing in real estate.
When looking to invest in real estate, it’s important to consider the type of property before you buy.
1. Office properties. Office properties tend to be located in busy, downtown or suburban industrial parks, they are in high demand.
2. Retail properties. When investing in a retail property, it’s best to look at areas where the economy is growing, and retail sales are high.
3. Industrial properties. These properties require a smaller investment and management commitment and have lower operating costs.
4. Residential properties (multi-family) for the most stable real estate investment, multi-family residential properties are best. This is because no matter how the economy is doing, people still need a place to live.
Emma Co Personal Real Estate Corp | Macdonald Realty
emmaco.realty@gmail.com | 6046183888
Building VALUE With Every Move
When looking to invest in real estate, it’s important to consider the type of property before you buy.
1. Office properties. Office properties tend to be located in busy, downtown or suburban industrial parks, they are in high demand.
2. Retail properties. When investing in a retail property, it’s best to look at areas where the economy is growing, and retail sales are high.
3. Industrial properties. These properties require a smaller investment and management commitment and have lower operating costs.
4. Residential properties (multi-family) for the most stable real estate investment, multi-family residential properties are best. This is because no matter how the economy is doing, people still need a place to live.
Emma Co Personal Real Estate Corp | Macdonald Realty
emmaco.realty@gmail.com | 6046183888
Building VALUE With Every Move
💰3 Unexpected Ways To Make Money From Real Estate
️ Thinking of getting into real estate investing?
Here are four unexpected ways to increase your profits.
3 Unexpected Ways To Make Money From Real Estate
1. The multi-family unit. Renting out a portion of your home could very well allow you to live mortgage-free once you factor in the rental income you receive from your new tenant.
2. Storage space. Be sure to check the prices of other storage providers in the area so you can set your lower and draw up a contract that relieves you of liability
3. Vacations rentals. Renting out this prime real estate will increase your bottom line in no time.
Emma Co Personal Real Estate Corp | Macdonald Realty
emmaco.realty@gmail.com | 6046183888
Building VALUE With Every Move
Here are four unexpected ways to increase your profits.
3 Unexpected Ways To Make Money From Real Estate
1. The multi-family unit. Renting out a portion of your home could very well allow you to live mortgage-free once you factor in the rental income you receive from your new tenant.
2. Storage space. Be sure to check the prices of other storage providers in the area so you can set your lower and draw up a contract that relieves you of liability
3. Vacations rentals. Renting out this prime real estate will increase your bottom line in no time.
Emma Co Personal Real Estate Corp | Macdonald Realty
emmaco.realty@gmail.com | 6046183888
Building VALUE With Every Move
🎨Simply use these suggestions to add pops of color that require no landlord approval.
️Are you renting and your lease prohibits painting the walls?
No worries!
Simply use these suggestions to add pops of color that require no landlord approval.
1. The Walls
Try hanging removable wallpaper or decals or even a curtain or sheet in a pretty pattern.
2. Your Furnishings
Think bright yellow and coral in the kitchen, for example, to drown out the drab, or go for a royal presentation by purchasing a sofa or chair in sapphire or emerald.
3. Textiles
Try stepping outside the box with some brightly colored curtains or rugs to bring a fresh, colorful appeal to your rental.
Emma Co Personal Real Estate Corp | Macdonald Realty
emmaco.realty@gmail.com | 6046183888
Building VALUE With Every Move
🏠 Here are a few tips to help you find a home in a good school district.
If you’re a parent looking to relocate, finding a good school for your kids is probably a priority.
Here are a few tips to help you find a home in a good school district.
1. Find A Neighborhood, Then A School
To make things as easy as possible, it’s smart to find neighborhoods you’d like to live in first and then look for schools second. If you do things the other way around, you may fall in love with a school located in a community you can’t afford or that isn’t convenient for your commute.
2. Research The School
The first thing you need to do to find a good school near your new home is research. The Internet offers many resources for checking out schools in the neighborhood. From the Department of Education to parent forums and the school’s website itself, you can get a good sense of the school’s culture.
3. Visit The School In Person
Before signing on the dotted line and committing to living in a specific community, take some time to visit the school in person. Get a feel for how helpful and friendly the staff is and how your child(ren) feels about the school’s environment.
4. Talk To The Neighbors
If others in the neighborhood have children, talk to them about their thoughts on the school(s) in the area. Getting actual feedback from other parents and kids who attend the school can give you a real sense of how the school will suit your family’s needs. Try to talk to multiple neighbors if you can as not everyone has the same experiences.
Emma Co Personal Real Estate Corp | Macdonald Realty
emmaco.realty@gmail.com | 6046183888
Building VALUE With Every Move
Here are a few tips to help you find a home in a good school district.
1. Find A Neighborhood, Then A School
To make things as easy as possible, it’s smart to find neighborhoods you’d like to live in first and then look for schools second. If you do things the other way around, you may fall in love with a school located in a community you can’t afford or that isn’t convenient for your commute.
2. Research The School
The first thing you need to do to find a good school near your new home is research. The Internet offers many resources for checking out schools in the neighborhood. From the Department of Education to parent forums and the school’s website itself, you can get a good sense of the school’s culture.
3. Visit The School In Person
Before signing on the dotted line and committing to living in a specific community, take some time to visit the school in person. Get a feel for how helpful and friendly the staff is and how your child(ren) feels about the school’s environment.
4. Talk To The Neighbors
If others in the neighborhood have children, talk to them about their thoughts on the school(s) in the area. Getting actual feedback from other parents and kids who attend the school can give you a real sense of how the school will suit your family’s needs. Try to talk to multiple neighbors if you can as not everyone has the same experiences.
Emma Co Personal Real Estate Corp | Macdonald Realty
emmaco.realty@gmail.com | 6046183888
Building VALUE With Every Move
🏡Creative Steps To Affording Your First Home
Buying a first home is more difficult than ever these days, making the dream of homeownership for some just that – a dream.
Even though home prices are higher than they’ve ever been, first-time homebuyers are making their dreams a reality, and here’s how.
Creative Steps To Affording Your First Home
Homebuyers face difficult hurdles when purchasing their first home. House prices are higher than they’ve ever been, making it a challenge to save the necessary down payment and to afford the monthly mortgage payments as well.
Know Your Credit Score And Research Your Options
You should find out what programs (if any) you qualify for to help with things like the down payment and the interest rate. Many lenders have first-time homebuyer programs that lower both.
Make Enough Money To Save Money
While you might not have to come up with a full 20 percent down, you’ll still likely need a down payment. This means you’ll need to make enough money to pay your bills and to save money for a new home.
Be Creative When Coming Up With The Down Payment
Many first-time homebuyers agree that coming up with the down payment is the biggest hurdle. You may or may not need to come up with a full 20 percent for the down payment, however.
Know What You Want But Be Flexible, Too
Everyone has an idea of what their dream home should be. Many first-time homebuyers are disappointed when they find that dream home but discover it costs way more than they can afford.
Emma Co Personal Real Estate Corp | Macdonald Realty
emmaco.realty@gmail.com | 6046183888
Building VALUE With Every Move
Even though home prices are higher than they’ve ever been, first-time homebuyers are making their dreams a reality, and here’s how.
Creative Steps To Affording Your First Home
Homebuyers face difficult hurdles when purchasing their first home. House prices are higher than they’ve ever been, making it a challenge to save the necessary down payment and to afford the monthly mortgage payments as well.
Know Your Credit Score And Research Your Options
You should find out what programs (if any) you qualify for to help with things like the down payment and the interest rate. Many lenders have first-time homebuyer programs that lower both.
Make Enough Money To Save Money
While you might not have to come up with a full 20 percent down, you’ll still likely need a down payment. This means you’ll need to make enough money to pay your bills and to save money for a new home.
Be Creative When Coming Up With The Down Payment
Many first-time homebuyers agree that coming up with the down payment is the biggest hurdle. You may or may not need to come up with a full 20 percent for the down payment, however.
Know What You Want But Be Flexible, Too
Everyone has an idea of what their dream home should be. Many first-time homebuyers are disappointed when they find that dream home but discover it costs way more than they can afford.
Emma Co Personal Real Estate Corp | Macdonald Realty
emmaco.realty@gmail.com | 6046183888
Building VALUE With Every Move
⚡Below, we discuss seven tips to help you avoid a bidding war
Buying a home isn’t for the faint of heart, especially if that home is located in a prime location.
Below, we discuss seven tips to help you avoid a bidding war if there are several buyers also interested in purchasing your dream home.
1. Understand And Stick To Your Budget
Before heading out to begin searching for your dream home, sit down and do some number-crunching. It’s important you have a clear idea of how much mortgage you can afford and how your monthly mortgage payment impacts other expenses like buying food, paying for tuition, etc.
2. Get Pre-Approved
Go to your lender and secure pre-approval for a mortgage before you begin house hunting. This gives you an amount the bank is willing to give you, so you know how much house you can afford.
3. Gain The Seller’s Favor
Make a great first offer to the seller. This puts you in a favorable light and often makes the seller choose your offer above others.
4. Show Flexibility
Often times, sellers will have non-monetary requests that, if you agree to, can make the difference between winning the bidding war and losing it. A common request is a flexibility on the closing date.
5. Don’t Place Too Many Conditions On The Seller
Buyers often include conditions in their offer. Common ones center around financing and the home inspection
6. Move Fast
In hot markets, it’s not uncommon for homes to sell the same day they are listed. If you find a home you like, move fast or someone else will.
7. Look To Buy During Slow Months
Even when the market is booming, there are months when the market is slow. During these times, you’ll experience less competition for your dream home.
Emma Co Personal Real Estate Corp | Macdonald Realty
emmaco.realty@gmail.com | 6046183888
Building VALUE With Every Move
Below, we discuss seven tips to help you avoid a bidding war if there are several buyers also interested in purchasing your dream home.
1. Understand And Stick To Your Budget
Before heading out to begin searching for your dream home, sit down and do some number-crunching. It’s important you have a clear idea of how much mortgage you can afford and how your monthly mortgage payment impacts other expenses like buying food, paying for tuition, etc.
2. Get Pre-Approved
Go to your lender and secure pre-approval for a mortgage before you begin house hunting. This gives you an amount the bank is willing to give you, so you know how much house you can afford.
3. Gain The Seller’s Favor
Make a great first offer to the seller. This puts you in a favorable light and often makes the seller choose your offer above others.
4. Show Flexibility
Often times, sellers will have non-monetary requests that, if you agree to, can make the difference between winning the bidding war and losing it. A common request is a flexibility on the closing date.
5. Don’t Place Too Many Conditions On The Seller
Buyers often include conditions in their offer. Common ones center around financing and the home inspection
6. Move Fast
In hot markets, it’s not uncommon for homes to sell the same day they are listed. If you find a home you like, move fast or someone else will.
7. Look To Buy During Slow Months
Even when the market is booming, there are months when the market is slow. During these times, you’ll experience less competition for your dream home.
Emma Co Personal Real Estate Corp | Macdonald Realty
emmaco.realty@gmail.com | 6046183888
Building VALUE With Every Move
🔻 Here are several hidden costs you should be aware of when buying your first home.
❗ Buying your first home is exciting, and it’s also expensive. You may not be familiar with all the costs associated with buying a house, and some of them can be quite unexpected.
Here are several hidden costs you should be aware of when buying your first home.
1. Appliances
If the previous owners of your new home take all the appliances with them, you’ll need to buy new ones when you move in.
2. Repairs And Improvements
If the home you’re purchasing needs repairs or improvements, you’ll likely be on the hook for them.
3. The Inspection
Before buying any new home, it’s smart to have an inspection done. This will cost money, but it’s worth it for the peace of mind it gives you.
4. Higher Utility Bills
Your electric bill may be higher each month, and it’s possible you’ll become responsible for bills that your landlord used to pay like trash pickup and water.
5. Insurance Premiums
The reality is, however, that the home is much older than the others, and as such, the insurance premiums may be quite high. This may end up costing you more in the long run.
6. The Locks
One of the first things any new homeowner should do (unless they’re buying a brand-new home that no one’s ever lived in) is change the locks on all the doors leading outside.
7. Cable/Satellite TV
Are you used to cable tv? Is your new home wired for it? If your new abode isn’t cable-ready, what about satellite tv? Either one is going to cost you for installation, which is something many new homeowners forget about in the excitement of buying a new home.
Emma Co Personal Real Estate Corp | Macdonald Realty
emmaco.realty@gmail.com | 6046183888
Building VALUE With Every Move
😄 Here are a Few Hot Home Trends to Consider
Thinking of revamping your home?
Here are a few hot home trends to consider
1. Go Neutral
Neutrals have been a going trend for quite some time now, and for good reason. Not only are they calming and relaxing, but they also provide the perfect backdrop for pops of color and pattern.
2. Velvet Furniture
If your mind automatically goes to the old, ugly red velvet couch of yesteryear, think again. Today’s design trends include a multitude of velvet furnishings, with sofas taking center stage.
3. Monochrome
From one end of the color spectrum to the other, black and white are the yin and yang of the color world. Design trends have always married these two colors, and today, they continue their wedded bliss with combinations such as black furnishings and white throw pillows.
4. Geometric Patterns
Geometric patterns are on everything these days. From coffee cups to wallpaper and everything in between, it’s easy to overdo this design trend. The key to using geometric prints in your home is to choose one aspect you’d like to be the focal point and go geo to your heart’s content.
5. Health And Wellbeing
In today’s busy world, it’s becoming more and more important to have a place to relax and rejuvenate. The home is the perfect place to create this oasis. From incorporating wellness amenities in already existing homes to building eco-friendly features into new homes, this trend is meant to fight the everyday stress, pollution, and unhealthy lifestyle practices that have taken over our lives.
6. Pops Of Green
Green has always been synonymous with nature. As the trend turns toward health and wellness, so does the inclusion of the color green. A great way to include this vibrant shade in your home is to add live plants here and there.
Emma Co Personal Real Estate Corp | Macdonald Realty
emmaco.realty@gmail.com | 6046183888
Building VALUE With Every Move
💰5 Tips Designed To Help You Better Understand The Mortgage Process
Buying a home with a mortgage can be somewhat overwhelming, especially if you are a first-time homebuyer.
The five tips below are designed to help you better understand the mortgage process to obtain a loan that’s right for you.
-Have Money In Savings
One of the first things (besides your credit score) a lender looks at is whether you have enough money in savings to pay your mortgage in an emergency. “Reserve” savings refer to money left over after you make a down payment and pay closing costs.
-Only Borrow What You Can Afford
Rather than struggle with a mortgage payment that’s too high, it’s best to buy a house you can easily afford at the time. You can always sell that house and buy something else later when and if your income allows.
-Find Out If You Qualify For A Low-to-no Down Payment Mortgage
There are several mortgage options available that require little to no down payment if you qualify.
-VA Loans
-Rural Development
-Primary Residence
-FHA Loans
-Don’t Stress Over Imperfect Credit
While your credit score is one of the most important factors a lender looks at when considering you for a mortgage, having imperfect credit isn’t a guarantee of denial.
-Consider A No-closing Cost Mortgage
A traditional mortgage comes with thousands of dollars in closing costs. When you pay these costs out of your own pocket, you get the lowest interest rate you qualify for. You can opt to have the seller pay some or all of the closing costs and pay a higher interest rate.
Emma Co Personal Real Estate Corp | Macdonald Realty
emmaco.realty@gmail.com | 6046183888
Building VALUE With Every Move
The five tips below are designed to help you better understand the mortgage process to obtain a loan that’s right for you.
-Have Money In Savings
One of the first things (besides your credit score) a lender looks at is whether you have enough money in savings to pay your mortgage in an emergency. “Reserve” savings refer to money left over after you make a down payment and pay closing costs.
-Only Borrow What You Can Afford
Rather than struggle with a mortgage payment that’s too high, it’s best to buy a house you can easily afford at the time. You can always sell that house and buy something else later when and if your income allows.
-Find Out If You Qualify For A Low-to-no Down Payment Mortgage
There are several mortgage options available that require little to no down payment if you qualify.
-VA Loans
-Rural Development
-Primary Residence
-FHA Loans
-Don’t Stress Over Imperfect Credit
While your credit score is one of the most important factors a lender looks at when considering you for a mortgage, having imperfect credit isn’t a guarantee of denial.
-Consider A No-closing Cost Mortgage
A traditional mortgage comes with thousands of dollars in closing costs. When you pay these costs out of your own pocket, you get the lowest interest rate you qualify for. You can opt to have the seller pay some or all of the closing costs and pay a higher interest rate.
Emma Co Personal Real Estate Corp | Macdonald Realty
emmaco.realty@gmail.com | 6046183888
Building VALUE With Every Move
🤯Did you know that Metro Vancouver home prices have gone up yet again in July?
It's a sizzling market with strong sales figures consistently pushing against the low housing inventory in the area! ️
The Real Estate Board of Greater Vancouver logged an impressive 2,455 residential home sales for July 2023! That's a whopping 28.9% increase when compared to the same month just a year ago.
Even though this number is a bit lower than the 10-year seasonal average, it's still a significant 30% year-over-year increase.
So, whether you're planning to buy, sell, or sit tight and watch, this heated market is undoubtedly making some waves in the region!
Emma Co PREC*
604.618.3888
emmaco.realty@gmail.com
vancouverprivatehomes.com
✨Building VALUE With Every Move✨
📍1109 - 108 W 1st Ave, Vancouver - NEW LISTING
Just Listed
1109 - 108 W 1st Ave, Vancouver
Say hello to your potential new home! ✨
Well-designed apartment at the luxurious WALL CENTRE FALSE CREEK!
️ 1 bedrooms
1 bathrooms
531 SqFt
Welcome to the Wall Center - Olympic Village! This 1 bedroom & Den (can be use as 2nd bedroom) home offers great city & mountain view from the Balcony. One of the most sought after Floor Plan in the Bldg, open concept with no wasted space and very efficient layout complemented by a Gourmet Kitchen, featuring 30" Gas range for the chef in you, stainless steel appliances with granite countertop, very well maintained unit and flexible completion. Live in Vancouer's most desirable neighborhood, walk to seawall, Canada Line, Cafes, Restaurants. Comes with 1 parking and 1 HUGE storage locker. Pets & rentals friendly bldg.
Learn more - you might just fall in love!
Emma Co PREC*
604.618.3888
emmaco.realty@gmail.com
vancouverprivatehomes.com
✨Building VALUE With Every Move✨
Categories:
blog of the day
|
Brighouse, Richmond Real Estate
|
Collingwood VE, Vancouver East Real Estate
|
Fraser VE, Vancouver East Real Estate
|
investment - real estate
|
Mount Pleasant Eastside
|
Mount Pleasant VE, Vancouver East Real Estate
|
news
|
Renfrew Heights, Vancouver East Real Estate
|
West Cambie, Richmond Real Estate
MacDonald Realty
#203 - 5188 Westminster Hwy
Richmond, BC V7C 5S7
The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Greater Vancouver REALTORS® (GVR), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the GVR, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the GVR, the FVREB or the CADREB.