Locating Medium-Term Tenants
Oct. 18, 2019
While Innovative Property Solutions strives to maintain high tenant retention rates, we recognize that each property owner's business plan might vary and a medium-term tenant might be necessary in order to ease into or out of short-term rentals. IPS also recognizes that there might be a great cash opportunity for owners as short-term rentals are usually more costly for tenants rather than a long-term lease.
10 IPS Tips Re: Security Deposits
Oct. 12, 2019
1. Build Up Your Defenses
Work to make your property as indestructible as possible. For example, consider bamboo or artificial wood flooring in lieu of carpet. Did you know that high gloss paint is much easier to clean? This ensures that your walls will become wipeable, easy-to-clean surfaces. Door stoppers are also a great investment as they serve as protection against banged up walls and holes.
6 Ways to Landlord Like a Pro
Oct. 5, 2019
1. Treat Your Property Like It's Your Business. Oh, Wait! It is!
Your property(ies) first and foremost should run like a business! Take pride in your business and work to ensure that it runs smoothly and efficiently. Create effective protocols and processes, get organized and try not to take things personally. Build a solid business plan and follow that structure!
Collecting Out-of-State Cash Flow
Sept. 27, 2019
The information age affords investors the opportunity to live anywhere in the world AND purchase rentals anywhere in the world simultaneously. While every job takes some elbow grease, as does the prospect of rental property investing, landlord investors don't have to reside in the same zip code as their rental properties.... as long as they are smart about ensuring that out-of-state cash flow.
Benefits of a Property Management Company
Sept. 18, 2019
There is a well known group of investors known as the "I-Would-Never-Hire-A-Property-Manager" Club. Perhaps you are a member and that is ok. We understand! We known that property management in general is a challenging way to earn a living and is often viewed in a negative light. The reason: many investors and rental owners have not availed themselves of the opportunity to learn about the ginormous responsibilities of property management, therefore quality is sacrificed for the sake of financial savings. However, as with most things in life, you get what you pay for.
3 Considerations Re: Breed Restrictions
Sept. 13, 2019
As sixty-eight percent of households across America consist of pet owners, rental property owners are in a position to offer advantages to highly motivated, pet-owning renters. At the same time, opening your home up to animals can be a risky venture. Cats can sometimes scratch at door posts and dogs can bark non-stop for days while munching on shoe molding. However, it is worth noting that not ALL animals have bad habits and the risk can be worth taking if you, as an owner, collect a large pet deposit and include a monthly pet fee in your lease agreement.
Dorian Vs. Property Owner Insurance
Sept. 7, 2019
Hurricanes can wreak damage, level structures and cause devastation both financially and emotionally. Sometimes, the only hope for property owners is to receive adequate insurance reimbursement very quickly.
FAQ About Hurricane Dorian
Aug. 28, 2019
SPECIAL FAQ: Hurricane Dorian
August 28th, 2019
Preparing for Dorian
Aug. 28, 2019
With Dorian well on its way to Jacksonville, property management companies are fast at work, hurricane procedures playbook in hand, prepping owners and tenants alike regarding appropriate hurricane damage protocols, installation of shutters and plywood and sharing the best means of emergency communication with management staff during this 2019 hurricane season. IPS is no exception as the team is at work executing plans for beforehand damage mitigation and a smooth, uneventful recovery.
6 Reasons to Own Rentals
Aug. 22, 2019
The prospect of real estate investing is versatile, therefore affording almost anyone the ability to strategize accordingly regardless of budget or experience. While cash flow, debt paydown, depreciation and appreciation are the pillars of real estate investing, their functions vary in individual real estate investment transactions. "Buy-and-hold" strategies, however, offer the benefits of all four pillars and remain a preferred method for most rental property owners, resulting in six strong arguments for investing in rental properties.