As a rental owner, you’re bound to come across tenant damages. However, you can take proactive steps to reduce the damage caused by a tenant when it occurs. This article provides useful tips for mitigating the tenant damage you may face in the future. Set Up a Proper Tenant Screening Procedure If you perform an extensive tenant screening, you’ll be able to filter out the problematic tenants from contention. Check their references and call up previous landlords. The more information you can learn, the better. It’s important to learn how tenants …
Pricing Your New Jersey Home to Rent
Prior to advertising the vacancy of your New Jersey rental home, you need to assign a rent rate. A lot of factors must be taken into consideration before the rent price can be set. The optimal price captures more prospects and enables you to enjoy a solid income. If you want to know how to set the ideal price for your rental, keep on reading! Factors for Pricing Comparison To come up with the right rent figure, scouting your competition is essential. Look out for rentals that have a similar appearance and amenities to yours. You can start by do…
A Guide to 1031 Exchanges in New Jersey
A 1031 Exchange is the nickname used in reference to Section 1031 of the U.S Internal Revenue Service Code. It allows a real estate investor to sell a property and reinvest the proceeds in new investment without paying capital gains. There are some conditions that you must meet before you can do a 1031 Exchange in New Jersey. The following is everything you need to know in this regard: The Properties in the Exchange Must be Used for Business or Investment Purposes According to Section 1031 of the Internal Revenue Code, properties in an exchang…
17 Terms All Real Estate Investors Should Know
In each field you immerse yourself in, there are specific terms or jargon that you will need to learn. Sports, baking, and finance have their own set of words that are particular in their niche. Communication becomes easier between industry professionals and investors when they all speak the same language, so learning these terms would be a real benefit. Learning the basics goes a long way. The more you expose yourself, the more the words and meanings stick in your mind. With that in mind, we at Lone Eagle Management have put together this …
Should You Offer a Deal to Find New Tenants for Your New Jersey Rental Property?
Attracting a tenant to your New Jersey rental property can be challenging at times, especially if you’re new to the business. And that’s why some landlords turn to rent concessions to help them land their first tenant. Simply put, a rent concession is a temporary offer that a landlord might make in order to attract or retain a tenant. Rent concessions are also known as short-term incentives. The goal of giving them is to minimize the vacancy period, which can prove to be costly in the long term. While rent concessions may mean reduced incomes…
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