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Community Association Self-Assessment Tool Below is a list of items that will help evaluate the health of your association.  Answer each question yes or no.  Count each yes and see the ratings for scores at the end of the list. _____The Board of Directors has clear, concise, written goals. _____The roles of each Board office and the directors is defined in writing. _____The management company’s duties is defined by written...

Running Homeowner Associations Like Family Business by Richard Thompson While homeowner associations are clearly business enterprises, some feel they should be run and have the feel of healthy family…a kinder, gentler corporation.  But even families have to deal with their internal issues and the outside world in order to survive and prosper. For example, homeowners that undertake remodeling must deal with bids, contracts, know how to negotiate, deal with problems...

Why Invest in Residential Real Estate? As an investor, you have the choice of a variety of investments, including real estate.  Residential real estate offers advantages unavailable with most other investments, including: Leverage of your investment Rental income generates cash flow Little or no savings to get started Tax advantages Leveraging Your Investment Unlike most other investments, an investor can purchase a rental property with a down payment of twenty...

Criteria for a Successful Rent Increase Using rental property as an investment is like any other business; to improve cash flow, you must either reduce expenses or increase income.  Increasing income is usually easier to achieve, but unless the residents are on a month-to-month lease, the only times you can increase the rent is when the lease expires, assuming the rental market will allow an increase. Rent increases in the...

Maximizing Profit and Limiting Liability in Real Estate Investing by Attorney Bill Bronchick How should I buy and sell real estate?  What entity gives the best tax benefits?  How can I limit my liability?  These are common questions posed by both beginning and experienced real estate investors.  The following are answers to common questions about maximizing profit and limiting liability in real estate investing. How should I take title? The...

Single Family Homes Always A Popular Investment The most popular real estate investment for individuals is the single-family homes.  The following discussion focuses on why so many individuals chose to invest in single-family homes over other forms of real estate. It is possible to buy a single family home with 10% or less down payment.  This means that you can buy a $100,000 house for only $10,000 down.  It is...

What Can A Professional Property Manager Do For You? Historically, renting your home has been considered a relatively simple and low risk undertaking.  However, in recent years, this apparently simple task has become progressively more complex and the risks associated with becoming a landlord far greater.  While managing your rental is certainly within the abilities of most property owners, the time and effort involved in management may be greater than...

Choosing the Right Landlord Choosing the right landlord is as important as choosing the right home. One of the most important factors to consider when selecting a home to lease is the ability of your landlord to provide you with prompt, professional residential services.  Check out our services and credentials. Benefits of Leasing from Us We work hard to be the premier landlord in the area.  It is our job...

Tips for Finding a Rental Home Eat all the chocolate you want!  The stress of house hunting causes extreme calorie leakage. Be sure to obtain a current map of the local area.  Having a map will save you time and gas from getting lost. If you have a pet, bring references for your pet.  Examples are as follows.  Letters recommending the pet from former landlords and/or realtors whom have seen...

Rent vs Buy Buying a home is a rewarding experience.  You derive a great deal of personal satisfaction from owning a home.  Homeownership allows you to build up your personal net worth over time and there are significant tax advantages to owning your own home.  Moreover, continued increases in housing prices nationwide make homeownership a relatively attractive investment. Yet, renting also has some advantages.  In some cases, renting may be...