Real Estate News


Updated: Saturday, February 27, 2021


Where Do I Go From Here?

Where do you go from here?

Interest rates are at all-time lows.

Pivoting into a new life and life>

Working from anywhere, including home, is a viable and valued career option.

Home is the new headquarters, representing security and freedom.

Life used to be super busy, hyper accelerated. We navigated a continuous stream of must dos, deadlines, and responsibilities. Eating out was where the money went.

Now weve adjusted to a less frantic pace of life with time to think and to sleep. Cooking-in has saved us a lot of money. What really matters has become clearer to many people.

Marketing pitches will rev up again and lead us back into that spending-buying frenzy unless we take this rare opportunity to consider where wed like to end up and how we can reach a new, valued destination.

In the midst of this awakening of new possibilities, success may be linked to the way you think about home. Which of the following perspectives on home are >

Not a Burden but a Partner

The pandemic proved home can be a partner: A safe haven, a workplace, a school, an entertainment center, a technology hub, shelter from a virus. Stop thinking of your home as a nest egg to look after passively until you cash it in to retire to a rocking chair. That type of retirement is long gone. Hurrah

Home has many different roles to play. Treat home as a partner and look for ways to put it to work for you and your family.

Not an Expense but an Enterprise

When it comes to home and money, most people are their own worst enemy. The fact that home buyers automatically expect to be poor when they buy a home is the root of the problem. Buyers often buy more house than they need or can comfortably afford. They overlook the importance of location to value, buy in peak markets and sell in slumps, and overlook real estates tax and investment advantages.

Having home and money too involves adopting a money-management attitude, not a get-rich-quick philosophy or a passive caretaker role. This may include managing built-in apartments, rental out-buildings, or short-term holiday rentals to generate income seasonally or annually. Operating a business from home has many financial and life>

Not a Fixed Asset but a Flexible Environment

The life cycle of home ownership for a newly-married couple traditionally started with a small bungalow. They later moved into a larger home when children arrived and then eventually into an even larger home, with amenities like a pool, where each teenager had their own room. The ownership cycle ended for the original owners when they retired and moved into a small rental. Their house was often taken over by one of their adult children and their family as the ownership cycle began for them.

Variations on this cycle included a divorce at some stage when the home was sold to buy two or a renovation to accommodate adult children moving back home, perhaps with their young children.

Now, the traditional family has changed dramatically and, along with it, the cycle of home ownership. Now, a rental unit may be added to help pay off the mortgage and removed when children arrive.

Homes are often dramatically renovated to accommodate a growing family rather than up-rooting school-age children in a move. A preferred life>

Home is seen as a flexible environment which can be renovated to fit the current and every-changing needs of owners.nbsp;nbsp;nbsp; nbsp;

Not a Monster Home but All Thats Needed

Growing concern for the environment increasingly sees many buyers searching for more compact, environmentally-friendly housing instead of massive energy-hog houses that reflect keeping-up-with-the-Jones life>

At the other extreme, moveable, compact tiny homes have become popular with home buyers who want adventure and a cost-effective life>

Condominium units exist in a range of sizes from a few hundred square feet to multiple floors, enabling buyers to purchase as many square feet as they need or can easily afford.

Not Safe but Climate-Change Impacted

Rising sea levels and raging wildfires are two common natural disasters attributed to climate change. Are climate change and environmental degradation, like contaminated drinking water or poor air quality, factors to take into account when buying?

Not a Short-term but a Long-term Home

The search for my forever home is now a common one. A building and land that are so beloved and sustainable that the owners will not want or need to move again is a high priority for many buyers. Unique properties like farms and waterfront homes and amazing urban or rural locations often lead buyers into long-term attachments.

Not a Solo Venture but a Group Investment

Real estate prices have risen dramatically in many areas. Pooling resources with friends, >

Not a Single Place but a Variety of Life>

Wealthy families are not the only ones who can own multiple properties. Those with more modest incomes can become savvy real estate buyers and build a portfolio of income-earning residential or commercial properties:

Individuals can partner with friends, family, or colleagues to share two or three properties around the world.
When businesses are involved, owning properties in several locations may be financially feasible and even necessary.
Buy multiples in one location for life>

Not Isolated but Connected

Where do you want to live? What do you want to have access to? What climate do you >

Let go of the past and reach out to explore the variety of housing options and life>

With all this flexibility, theres no end to what you can achieve, even on a modest income. Technology is going to open up more and more options. What variations on home ownership can you add to the list above?

During research for one of my books, Have Your Home and Money Too no longer in print so skip Google, I was dazzled by the amazing ingenuity of home owners from all walks of life and income levels. Now, weve settled into a follow-the-leader pattern of home buying and ownership which may not provide all the life>

Are you ready to think way outside the box of home ownership in a year that already has us thinking way out there about so many things?

Lets make 2021 a year celebrated for the return of safe hugs


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2021’s Hottest Home Décor Trends

Most of us were more than happy to say goodbye to 2020, but we could still be spending a fair amount of time at home early on in 2021.

With that in mind, the following is a roundup of some of the dcor and design trends that are popular right now.

Comfort and Functionality

2020 was a year when most of us spent more time at home possibly than ever before. We were not just spending our free time at home, but perhaps cooking more at home, working from home, and working out from home.

That made comfort and functionality top priorities in home design.

Instead of the unused guest room or formal living room, the focus of home design right now is on creating spaces that work for our life>

Think about the overstuffed furniture >

There is likely to be a move toward softer and more traditional dcor >

For a lot of us, home design right now is also about utilizing all of the spaces in our home and maximizing what were able to do from home. That might mean revamping your home office or adding a gym. nbsp;

Lighter Wood

If youre thinking about buying new furniture or installing new floors, lighter wood will be popular in 2021. Think about blonde and light oak woods. They can keep a space still feeling airy and modern, even if the furniture is more traditional.

Light wood can open up a space and make a small room appear much larger.

Grandmilllennial

The term grandmillennial is one being used by some designers. What it means is that you might see a move toward those traditional >

There are elements of history and nostalgia in these >

Whats great is that you can also buy antiques or use pieces handed down through your family, which is valuable from a sustainability standpoint.

Dont Count Out the 80s

Everything old is new again, and 2021 is the year the 80s dcor >

Bar>

Another way the 80s is inching back into home design?

Wicker and rattan furniture.

Made from woven twigs and palm stems, this furniture is chic, lightweight, and versatile.

Goodbye to Shiplap

What about those trends that we might say goodbye to in 2021?

Shiplap may be one.

For years, shiplap was the go-to wall trend made popular by Joanna Gaines.

It was everywhere, and it did offer an easy way to incorporate texture into a space, but for many of us, were feeling a bit tired of shiplap.

Shiplap might take barn doors with it as it exits.

To continue with texture, shiplap could be replaced with plaster walls, which are once again growing in popularity.

No More GrayBuy Maybe Green?

Finally, in kitchens for years gray cabinets were coveted. Now, we may see a move away from that and instead we could see green cabinets becoming popular. Indigo blue is another bold choice that could become increasingly utilized in 2021.


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Ask the HOA Expert: Vendor Interference, Adjoining Decks, Quorum

Question: Our HOA has a resident that interferes with vendors. Our landscaper has threatened to quit due to the harassment. The resident has been advised in writing to cease and desist but it continues. Suggestions?

Answer: Its not uncommon for certain residents to engage contractors in conversation, usually trying to be sociable or helpful. This is particularly true of landscape contractors. Most landscapers know this and should be instructed not to respond or instruct the resident to "talk to the Board."

If this has been done without success, I suggest someone on the Board meet with this person and discuss the reasons for his interference. Some of his concerns may be legitimate. If so, address them in writing with the landscaper and send the owner a copy of the letter. But if the interference is unjustified and just meddling, other tactics need to be used.

Try one more letter stating that the previous courtesy letter has been ignored so the landscaper will bill for additional time in dealing with him if he continues to slow them down. Add that if the HOA is billed, he will be charged for it. Then, ask the landscaper to monitor the situation and to journal when interference happens. If it does, ask him to submit a bill to the HOA for the time at his normal rate. Bill the owner. This usually stops the meddling. If not, have the landscaper submit another bill and charge him again. Make sure to enforce collection if it goes unpaid. Some folks can be pretty stubborn but most come around.

Question: Our townhomes each have a rear deck. Two adjacent owners submitted a request to add a brick patio in between their two decks. Besides the fact that there is a utility easement buried cable where they want to install the bricks, it seems inappropriate to allow this installation since future owners might not be so neighborly. Thoughts?

Answer: This was probably a cost sharing scheme to develop additional patio space for half the cost. There are several approaches to responding to the request. If the expansion area is common area, the Board has no authority to permit individual owners using it for private space. Case closed. If the space is limited common area, the utility line easement access would be compromised. Case closed. Your observation about how this would impact future owners of this property is also valid. Again, case closed.

Question: I recently ran for and got elected to the board. I was reading the bylaws and it occurred to me that we didnt have a quorum so the election was illegal. I did further research and discovered that weve never had a quorum in the three years that the HOA was turned over from the developer. Im concerned that since none of the board members were legally elected, their acts have not been legal either. I believe all the liens, contracts and other approved actions should be redone. Our property manager believes Im overreacting, stating that most of the annual meetings she coordinates lack a quorum for elections. Am I making too much of this?

Answer: Your concerns about the quorum are valid. While its true that many owners dont choose to attend the annual meeting, using apathy as the reason to run roughshod over quorum requirements is a lame excuse. The Board is responsible for proper and advance promotion of the annual meeting. There are a number of ways to attract greater numbers and accomplish a quorum. Holding a potluck following the meeting often attracts greater numbers and ensures the meeting doesnt drag on.

One essential component of holding an annual meeting is issuing proxies to all members. A proxy is a form which authorizes another person to act on behalf of the proxy giver. All owners should complete and return one before the meeting to guarantee a quorum. Any member that attends the meeting me>

Your concern about redoing past Board actions is unrealistic and would be a nightmare to accomplish. Opening up this Pandoras Box would allow challenge to anything and everything the Board has done. While its possible a member may raise the issue to justify violating some policy or rule, its unlikely. Its better to let sleeping dogs lie and strictly adhere to proper quorum requirements in the future.


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How to Make Time for Remodeling

1. Cut the Shopping Time

For those of you who like to have a week of dinners planned out ahead of time, you know how much time grocery shopping for those items takes. You walk into the store with a list of groceries and you wander around the store from one aisle to the next picking up things here and there. It can take an hour or two just finding the ingredients. By looking into a food delivery to do the shopping for you, youll be able to have an extra couples hours every week that you could use to rearrange your home.

2. Assign Chores to the Kids

How many hours a week do you spend cleaning? A study done by the Australian Institute of Family Studies showed that women spend anywhere from 16 hours a week to 25 hours a week doing household chores. That means that every week, women are spending up to an entire day cleaning the house and cooking the food. You can assign your kids chores to alleviate some of the time that you spend on chores. Everyday assign each kid a set of easy chores and assign one of them to help with dinner for that night. Chores will get done faster and you gain an extra 5-6 hours every week. While youre at it, you could even enlist your children to help you with the remodeling since youve saved enough time to start.

3. Its Okay to Say No

You might be overly busy because when someone asks you to do something, you cant say no. You spend hours every week going out and having lunches and dinners with friends or helping people move but you need to remember that its okay to have some you-time. Next time you feel overwhelmed by your plans, know that its okay to say to the next person who asks you to do something. Its important to take advantage of your time and use it in the way that you want to.

4. Dont Set Unattainable Goals

Its tempting to set goals that seem easy but are actually completely unattainable. Then you spend hours and hours trying to reach it only to come out frustrated that youll never be able to finish it. Instead, set small goals that you can easily reach one at a time. Youll be able to save time because you wont be frustrated as often and you wont be spending time on things that you wont be able to accomplish.

5. Spend Less Time on Social Media

Social Media is where you get ideas for creative DIYs and cute remodeling ideas. It also can take up hours and hours on end. Try taking a social media fast for a few days every week where you dont allow yourself to go on Facebook or Instagram. Be strict with yourself and tell yourself that no matter what, you are not allowed to open up the app on your phone. Instead, focus on other aspects of things that you need to do. If youre feeling bored and youre tempted to go on social media then focus your attention instead on the projects that youve been meaning to do around the house. There isnt a reason why you should be bored.

By cutting time from other less-important aspects of life, youll find that you have a plethora amount of time available for you. Youll be able to put that time into the other things that you have been hoping to accomplish. So, take a break and allow yourself the time that you need to make your home into the home that you want.


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Because It's Ugly, and 3 Other Big Reasons Your Home Isn't Selling

Ever wonder why some homes sell and others dont? There is no magical fairy dust that can turn a loser of a house into a palace. And, in fact, if there were such a think as magical fairy dust, sprinkling it in your home would make a big mess, and thats a big no-no if you want to sell.

Getting your home sold is not all that hard if you stick to the basics. But if youve got some of the problems below, you may just be sitting on that unsellable home for a while.

Problem No. 1: Because your home is ugly

Yes, your home is ugly. If your Realtor didnt tell you that, let us go ahead and say what he should have. And just so were clear, "ugly" can also stand in for:

Cluttered
Outdated
Dirty
Messy
Tacky

Very few people - investors looking for a deal aside - can walk into an untidy mess of a house and see the potential. If youre not willing to clean it up, clean it out, and maybe make a few overdue updates, you may not get it sold. That goes double for over-personalization that is so in your face buyers cant see past it.

"Everybodys taste is different, so less is more when it comes to decor at sale time. Loud patterns and bold colors can be big distractions," said MSN.

Solution:

You need to de-ugly-fy that house but quick. Pretty places around you are selling. If you have similar plans, similar features, similar lots and theyre selling while youre sitting, its not hard to figure out why.

Take a good long look. If you dont see anything wrong, bring in a few friends for their opinions. But only the ones who might actually tell you the truth.

Problem No. 2. Because your price is unrealistic

This is the No. 1 most common problem with homes that are not selling, says MSN. "If youre guilty of having "a what the heck are they thinking? price tag," they say, you can expect to sit on the market for a while.

"Price is usually the overriding factor in any home that doesnt sell. Whatever its problem, it can usually be rectified by adjusting the price."

Adds U.S. News: "Without question, the No. 1 reason a home doesnt sell is price. Sellers have an emotional attachment to their homes and tend not to be objective about the true value."

Solution:

If it is an emotional attachment thats getting in the way, take the emotion out of the equation and think of it simply as a business transaction. Many times the issue is a seller owes more than the home is worth or simply wants a higher price. But its the market that sets the price. And if its telling you your price is too high, its probably best to listen.

When all else fails, listen to your agent, who should have provided you with comparables that spell out recent sales and market trends. Also See: Its The Price That Sells a Home

Problem No. 3: Because its a project house

Maybe youve made the decision to sell and you just dont want to put any money into a house thats no longer going to be yours. But a house that looks like its going to take too much work - or too much money - to fix up is a turnoff.

"If a home looks as if its going to cost half as much to repair or renovate as it does to purchase, its going to take a long time to move," said MSN. "Todays buyer is a lot more >

The Solution:

"Fix it, or prepare to lop a large amount off the price," said MSN.

Problem No. 4: Because youre not cooperating

This is also the No. 1 reason houses end up overpriced. Uncooperative sellers also tend to ignore other advice from their agent, about keeping the home tidy see No. 1, being available when needed, being open to price reductions, being able to make the house available for open houses, and agreeing to terms when there is a contract discussion.

"No offense, but maybe you arent showing your house off enough? If you arent using a real estate agent and work away from your home, your time might be limited, of course. But you should try to make your house as accessible and available as possible for a Realtor and a potential homebuyer to easily drop by and take a tour which means having the place clean, too," said U.S. News. "Having your home be shown only by appointment or only at designated times will seve>

The Solution:

Get in or get out. Or get in to get out. You have to commit yourself to a process that, quite frankly, can be inconvenient and a hassle in order to get your home sold, especially in more competitive markets. Being agreeable and available, however painful, for this finite amount of time, will pay off in the end.


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What Type of Mortgage Is Best?

When first thinking about buying a home, the type of mortgage you should consider is a bit lower on the priority bar. The first decision is whether or not to buy the home in the first place. Once that decision is made, its time to get your preapproval letter from your mortgage company. Most agents today wont even let you into their car without having first spoken with a lender. Further, when making offers, the sellers and the sellers agent want to see that not only have you spoken with a lender but have been preapproved, meaning your income, credit and assets have been reviewed and verified. Next, youll need to find out which mortgage is best for your situation.

You might be surprised at the various options available when financing a home. Youll need to decide if you want a fixed rate loan or a variable one. You will also need to select a loan term. The most popular loan term is 30 years but there are certainly others. Your loan officer will help you with this. Your loan officer will also review your situation and provide different options from which to choose. In general, though, there are some factors to consider when selecting the type of mortgage which is right for you.

The most popular mortgage is the standard conforming conventional loan. When you see 30 year mortgage rates advertised, its very likely the lender is referring to this type of loan. Most every single lender offers this product creating a more competitive arena. Lenders will compete on rates and terms but also service. The service portion is extremely important but often not considered. A mortgage company might offer the lowest rates on the planet but after you submit an application you cant get a return phone call. You want competitive terms but also stellar customer service.

Regarding the loan term, just remember the longer the term of the loan the lower the monthly payment but youll pay more in interest over time. A shorter loan term will result in higher monthly payments, but less interest is paid over the life of the loan. Speak to your loan officer and see what your principal balance would be five years into the loan with a 30 year term compared to a 15 year. You might be surprised.

Are you VA eligible? VA loans are the ideal choice for those who are eligible. VA loans do not require any sort of down payment, the buyers are limited from paying certain types of closing costs and rates are extremely competitive. In addition, there is no monthly mortgage payment required compared to other low-down payment mortgages. If youve served in the Armed Forces, active duty or served in the National Guard or Armed Forces Reserves this is probably the ideal choice for those wanting to come to the settlement table with as little cash as possible while still getting a very competitive program. VA loans also come with a government-backed guarantee should the loan every go into default.

FHA loans are another option. FHA loans are very popular with first time buyers because the minimum down payment is just 3.5 of the sales price. FHA loans also have a government-backed guarantee. These guarantees make it a bit easier to qualify as lenders are compensated for any loss should the loan default.

If youre buying in a rural area and also want to come to the settlement table with as little cash as possible, the USDA program is likely your choice. USDA loans also a zero-down option. Many loan programs dont like financing a home in a rural area as there are very few recent sales of similar homes in the area.

As you can tell, there are probably more choices than first imagined. But dont let that confuse you. Your loan officer will help decide which program best fits your financing requirements.nbsp;


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How Real Estate Agents Can Build Their Email List

If you dont already, 2021 should be the year that as a real estate agent, you focus on building your email list.

Every agent should collect an email list and maintain it. Its one of the best marketing tools you have available. Email lists and marketing can help you stay in contact with your current clients, build new >

With that being said, if you dont have an extensive list of email addresses, it doesnt matter how good your actual marketing is within the emails you send. The more people on your email list, the more potential views and the likelihood you convert readers to clients.

Create a Pop-Up on Your Website

If you have a website, one of the easiest ways to start getting new subscribers for your email list is to create an opt-in popup.

With this, youre asking your website visitors to sign up to receive emails from you.

When youre creating the popup, keep it simple but visually appealing. Ask only for the most needed contact informationtypically name and email address. Include a call-to-action thats clear to site visitors, so they know what youre asking for. You might also want a brief sentence about what you plan to use their email for.

Use Social Media Ads

Another good way to get new email subscribers is through social media. You can use paid ads to generate leads. For example, you can create ads that link to your landing page. Once someone arrives at your landing page, you might have an opt-in form.

When youre creating different landing pages and opt-ins, make sure that your call-to-action is customized to each, based on who your audience is most likely to be.

Create an E-Book

Getting someones email address is valuable, and most discerning people are going to realize that. They might not be willing to give you their email address unless theyre going to get something in exchange for it.

There are many ways to offer value in exchange for someone opting into your emails, and one popular route is to create an e-book. The e-book doesnt have to be long. It can be a guide to anything that youre an expert on, such as finding the perfect home for a family, buying a fixer-upper, or investing in property. Think about what is most likely to resonate with your targeted audience.

Then, when they sign up for your emails, they automatically get the e-book.

This offers the added benefit of positioning you as an authority in your field.

Collect Emails at Events

As a real estate agent, one unique way you can get emails that people in other industries cant is by collecting them at events.

If you have an open house for example, have attendees leave their email addresses.

This will not just help you build out your list, but youre likely to have more quality leads if youre getting emails from people who are actively attending real estate events.

Segment Your List

Finally, once you start collecting emails, its important to segment them. This means that youre breaking it into groups based on the needs and interests of the audience and demographic factors. This is important because you want to send your subscribers only the most >

When youre just starting to build your list, your segmentation can simply be people most interested in buying and then another group for potential sellers. As your list grows, so can your segmented groups. The more tailored you can be in your messaging, the more likely it will resonate and convert.

Over time as you build it and refine it, your email list can become one of the most important assets in your real estate business.


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Can You Manage an Airbnb Remotely?

There are different scenarios where you might be interested in the feasibility of managing an Airbnb remotely.

Maybe you have a second home or are considering one that when you arent using it, youd like to rent on Airbnb. This is common. Another scenario might be if you want to travel the world for a while or take a sabbatical, and you want to rent out your primary residence while you do so.

How possible is it to manage an Airbnb remotely?

Have a Local Team

Theres going to be no way to manage your Airbnb remotely unless you have a good local team of people you can count on.

First and foremost, choose the right housekeeper. The cleanliness and how well maintained your Airbnb is are important to your ratings and the amount of money you can make. Your housekeeper can make or break you when it comes to Airbnb.

Your housekeeper will be more than someone who cleans your property and gets it ready for the next guests. Theyre also going to let you know your propertys condition regularly and whether something is damaged or needs to be repaired. They can alert you if one of your guests breaks or steals something so you can deal with it in a timely way.

Along with your housekeeper, youll also need a >

While you might need them less often, have a plumber, electrician, and HVAC professional in mind who you can call as needed.

Create a List of Items That Need to Stay Stocked

Along with your housekeeper, you might also hire someone who serves as a property manager. All of these people will cost money, but if youre going to make money remotely, youll need them.

A property manager should keep a running list of everything the house should always be stocked with and should replace items or let you know when theyre needed.

In some cases, your housekeeper may be able to do this, but it needs to be someone you trust to do a thorough job.

Self-Check-In

You dont necessarily need someone to be present during check-in, and a lot of guests prefer self-check-in.

You can use a lockbox, such as a smart lock.

There are services you can use to send access instructions to your guests automatically. You can also manage entry remotely. If guests are having a hard time, many of these services will send you an alert.

Create a Detailed, Comprehensive Guestbook

If youre going to manage your Airbnb remotely and youre not working with a management company, youre going to need a detailed guestbook. The book should include any and everything that your guests might need to know.

This includes local restaurants and attractions, how to work appliances and house features, transportation information, what to do if the power goes out, and how to access Wi-Fi. You should also include phone numbers and contact information for your service providers such as your plumber and electrician. Provide your phone number and give your guests the option to FaceTime you if they need help with something.

If you arent sure where to start with your guestbook, consider spending a few days in the home as a guest would. Go through your day-to-day routines and think about what you might have questions about if you were a guest at the property.

Provide Welcome Gifts

If you arent going to greet your guests personally, you can make them feel welcome with gifts. Have your housekeeper leave something personalized for each new set of guests. Before they check-in, ask if theyre celebrating anything special.

Maybe you leave a bottle of wine, or perhaps some snacks.

Your guests will appreciate the personal touch, even if you arent there to personally deliver the gifts.

Overall, it is possible to manage an Airbnb remotely, particularly with technology and a dedicated team of people on the ground who you trust. Finding people to trust is perhaps the most critical part of managing your rental business from afar.

You also need to make time to regularly check in on the property in person and ensure that everything looks good and nothing needs repairs or updating.


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What are HOA CC&Rs?

"CCamp;Rs" is an acronym commonly used in the homeowner association industry. It means "Covenants, Conditions amp; Restrictions." It is used generically for any HOA rule or policy. But its more complicated than that. In the HOA environment, there may be policies, procedures, rules, regulations and resolutions. All are necessary to do the HOA business properly. But what exactly are policies, procedures, rules, regulations and resolutions?

Policy:

A policy is a standard adopted by the Board that sets out the beliefs, values and objectives that causes the homeowner association to act. such as a collection policy, an enforcement policy, or a conduct of meetings policy. A homeowner associations policies communicate, organize, and focus the resources of the homeowner association.

Procedure:

A procedure is the process that accomplishes a particular objective. For example, the homeowner association should have a clear and defined policy regarding assessment collection. The detailed steps of how this policy is achieved comprises the procedure of collecting assessments.

Rule or Regulation:

A homeowner associations board of directors adopts rules, regulations or guidelines to define desired behaviors and to set limits on allowable uses of the common elements and homes or units, architectural changes and the behavior of residents and guests. Some typical examples of rules include pets, parking, noise and use of HOA facilities.

Resolutions:

A resolution is a method of formalizing a decision made by an homeowner associations board of directors. Resolutions are used to adopt policies, procedures, rules and regulations or to clarify ambiguous terms in the governing documents. Resolutions should include four components:

nbsp;

Authority. The section of the governing documents that gives the board authority to adopt resolutions;

nbsp;

Purpose. Why the resolution is needed or being adopted;

nbsp;

Scope and Intent. Who will be affected, the reach, range and extent

nbsp;

Specifications. A clear and complete statement on what those bound by the rule are expected to do.

nbsp;

So there you have it. Now you can speak like an HOA authority. CCamp;Rs arent just for acronymizing anymore.


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What Are the Best Ways to Use Your Home’s Equity?

Your home equity can be a valuable resource to you, depending on your financial situation. Your equity is the interest you have in your home, as the owner. Your equity increases over time in two ways. Equity increases if your property value goes up or if you work toward paying down the balance of your mortgage loan.

Equity is the part of your home that you truly own if you borrowed money to buy it. If you did get a mortgage, the lender has an interest in your property until you pay it off, despite you being considered the homeowner.

The equity you have in your home is considered one of the most valuable assets you have.

Since it is an asset, you can use it. There are three main ways people use the asset of their equity. One is to sell your home. If you decide to move, you receive your equity from the proceeds of the sale. You can also borrow against the equity, and you can use a reverse mortgage to fund your retirement.

Buying a New Home

If you sell your home, you can put the equity aside, or you can use it to buy a new home.

If you have, lets say 70,000 in equity in your home, then youll have a profit after closing. That profit can then be used for your down payment on your next home.

The bigger the down payment, the more expensive the home you may be able to afford. Your mortgage payments may be lower with a bigger down payment as well.

Borrowing Against Your Equity

Another way to use equity is to borrow against it. There are three primary ways to do thisa home equity loan, a home equity line of credit, or a cash-out refinance.

When you use your homes equity as a way to borrow money, youll get a lower interest rate than you likely would with something like a credit card or personal loan.

Theres a downside too. If you dont make your payments, a lender could foreclose on your home. This wouldnt be the case if you were to use credit cards, for example.

A home equity loan is somewhat like a second mortgage. You can use the proceeds of a home equity loan however you want, and you pay it back in monthly installments with interest added. It works very much like a traditional mortgage.

A home equity line of credit is structured more like a credit card in that a lender gives you a credit limit based on your equity. You borrow as you need with a HELOC and also pay it back as you borrow.

A cash-out refinance lets you refinance for more than whats owed on your mortgage, and you get the extra money as cash that you can use.

How to Build Equity

Since equity is a valuable asset that gives you financial flexibility and options, building it is an important goal.

One of the fastest ways someone builds equity is by coming up with as large a down payment as possible. The bigger your down payment, the more equity youll have right away.

If you already have a mortgage, make every effort to pay it off. When you first start paying a mortgage, smaller amounts go toward your principal, and more goes toward your interest. However, the longer youve had your mortgage, the more goes toward your principal, helping you build equity.

If you ever have opportunities to pay more than the minimum on your mortgage payment, do it. Some people make an extra payment each year, or they make biweekly payments. Even paying just a little more each month can help you reduce your principal balance and increase your equity faster.

If you stay in your home longer, you build more equity, particularly if it increases in value.

Finally, certain renovations that add value can also help you build equity. For example, adding a bathroom or doing a kitchen remodel can improve your homes value, increasing your equity.


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The Ultimate Seniors’ Guide to Homesteading In Retirement

We tend to picture retirement one way: seniors leisu>

However, many seniors who might be interested in homesteading dont know where to start. Thats why weve put together this guide. We hope these tips help you figure out if homesteading is right for you, and along with insights on the real estate from The Data Advocate help you get started on your journey toward the perfect retirement:nbsp;

Who Should Homestead?

Your first step should be evaluating whether or not homesteading feels like a good retirement for you. Remember, homesteading doesnt necessarily mean being enti>

Homesteading is a significant physical undertaking, which can be a pro and a con for retirees. On one hand, its built on physical exercise that can keep you healthy for years. On the other, if you have existing health issues or develop them down the line it can become too much of an undertaking, especially if you have a lot of land. Although there are ways to make things more manageable more on this later, recognizing the physical demands of this life>

Finding Your Propertynbsp;

Homesteading would traditionally require a rural property, but thats not the only option these days. More and more technology has emerged that makes urban and suburban farming possible. Plus, as interest in sustainability rises, more and more neighborhoods are allowing homesteading features such as a backyard chicken coop.nbsp;

Check out the properties that are available on your market, and try to imagine how youd set up your homestead there. Remember to consider options such as greenhouse growing, vertical gardening, and hydroponics. These can really expand your ability to grow the foods you want in a smaller space or non-ideal environment. Finally, be sure to check zoning rules some neighborhoods will have restrictions that can prevent you from achieving your goals.nbsp;

Meeting Your Physical Abilitiesnbsp;

As we said above, homesteading is a great way to stay active well into your golden years, but its important to only make a job for yourself that youll be able to handle in the long run. A huge property with sweeping gardens isnt likely to be sustainable, and unless you want to hire farm hands, youll need to think smaller.nbsp;

This is where those alternative gardening methods we mentioned earlier can really come in hand for seniors. Vertical gardening can give you the ability to keep a significant amount of crops growing in a >

Although its not right for everyone, homesteading offers a fun and satisfying way to retire. Its important to create a practical, sustainable plan in order to make the most of it. After all, there are few things quite as empowering as living off of your own land and hard work well into your golden years.nbsp;


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Renovations to Make Aging at Home Easier

As you or your loved one ages, your home may need to be adapted to accommodate life>

Grab Bars

Installing grab bars can significantly decrease falls and injuries. They should be installed where the floor may get wet or transition to a different level. Grab bars should be installed by a professional contractor because they require special reinforcement. If a grab bar is improperly installed it can be pulled from the wall causing injury.

Places grab bars should be installed:

showers
near toilets
stairs
room transitions

Home Entry

Access to the main level without the use of stairs is a change you can make to your home without changing the overall curb appeal. This requires planning ahead. A ramp can be designed with wood or concrete that provides a gradual incline to the front door. By planning ahead, you can have a contractor design a ramp that fits the aesthetic of your home without reducing its value. This provides accessibility for wheelchairs, walkers and those who cannot use stairs.

Making Doorways Wider

Increasing the width of doorways is a simple way to make living at home easier with walkers or wheelchairs. Widening a doorway is a project that should only take a contractor about a day. Making a door 36 inches wide as opposed to the normal 24" or 32" allows for easier access, especially in tight spaces.

Floorplan Alterations

Creating room for maneuvering is important. There may be times that you need space to use a wheelchair. A wheelchair requires a square five feet to move freely. Creating an open floor plan is a good way to open space to move around. This can be done by removing full and pony walls, creating cased openings, and >

When aging in your home you may need to restrict living to a single floor to accommodate for the difficulty of climbing and descending stairs. It is important to ensure that there is a kitchen, bathroom and a space for a bedroom on the main level of your home. If there is not a full bathroom on the ground floor, a contractor can create a full bathroom by adding a shower to an existing half bath or creating a new bathroom enti>

Removing Thresholds

Removing floor thresholds between rooms can prevent tripping, which is the number one cause of injury for aging individuals. Many homes have a threshold between rooms where flooring changes. This can be alleviated by removing the threshold or installing a ramp that lets them move easily.

Shower Conversion

The bathroom can be a dangerous place due to slippery floors and tripping hazards. Even with the help of grab bars and grippy bath mats, it is important to remove tripping hazards. A popular option is to convert a bathtub into a shower without a threshold. This renovation can allow for ease of access especially for those in a wheelchair.


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Landscaping Tips That Will Wow Buyers

Your front yard is the red carpet inviting buyers into the beauty that is your home. If its rugged, messy and unkempt, buyers will take one look and then keep on driving to the next property on their list. Dont let that happen by making your front yard luscious and as amazing as the inside of your home.

What areas should you focus on in your front yard? Where do you start? To help you break down the revitalization of your front yard, here are the steps you should take:

1. Cut the grass.

Buyers dont want to trudge through high grass as though they were in the Amazon or on a safari in Africa. This means the lawn mower needs to be out at least once a week if not every other week, keeping it trimmed and maintained. It also needs to be green so it looks alive and lush. Water so the sun doesnt dry out the lawn and turn it yellow or brown. A professional landscaper can help maintain a balance of trimming and growth so it looks just right for buyers.

2. Plant more shade trees.

One or two trees in the front yard are all right, but if you want to really add some shade, plant more. Shade trees will detract from the glare of the sun, and it can help decrease the temperature of the house if theyre placed close to windows. It also will help keep the lawn green with moisture. You can plant trees that are shorter and will grow by the time the new owner buys the home, but be sure theyre strong and can handle the climate.

3. Install outdoor lighting.

Outdoor lighting is a good way to both illuminate the house at night and accent parts of your yard. Depending on where you install the lights, your house will look very appealing at night to those buyers who might not have time to do their shopping during the day. Outdoor lighting also helps to illuminate a path like a sidewalk to get from the curb to your front door for easier navigation. It helps to accent the beauty of your landscaping which all together increases the beauty of your home.

4. Consider adding flowers for more color.

If your front yard has a lot of greenery, you should increase the yard appeal by adding more colors. Flowers are a great and simple way to do this, as well as shrubbery with different blooms. Perennials are the best for this because they last for more than a year, which means less maintenance for the seller and the new homeowner. They come in a wide variety of colors and types so the yard can be decorated with any number of them while still requiring less maintenance.

5. Keep everything clean

In addition to keeping the lawn trimmed, everything else should be clean. Anywhere that can build up dirt or grime - siding, porch, front door, driveway - should be cleaned on a regular basis. Buyers dont want to see a lot of dirt and mess, and it will detract from them wanting to walk into the house. So take a broom, a power washer and a few hours on the weekend to keep everything sparkling clean. Dont have a power washer? A professional power washing service can cost as little as 293.


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6 Questions Your Loan Officer is Sure to Ask

Whether youre a veteran real estate investor or a first time homebuyer, you can expect to provide your loan officer with no shortage of documents. The lender is gathering information needed in order to get your loan file completed and sent over to the underwriting department for an approval. Knowing in advance what your loan officer is sure to ask for will help ensure a smooth closing.

Have You Ever Owned a Home Before?nbsp;

This question does a couple of things. The first is to determine whether or not youve eligible for various loan programs designed to get someone into their first home. So-called first time buyer programs are designed not just to get people into homes as easy as possible but to jump start the local real estate market. When you buy an existing home, the occupants will typically buy and move into another. As well, this gives the loan officer an idea of whether or not the person is somewhat familiar with the financing process.

Are You Self-Employed?

Again, the answer helps the loan officer to the right path. Lenders are required to determine if the borrower can afford the new mortgage payment and they do so by comparing monthly income with the future mortgage, including property taxes, insurance and mortgage insurance when needed. With an employee, this income information is straightforward as both year to date and monthly income is listed. Self-Employed borrowers need to provide other information which verifies income such as a YTD profit and loss statement, bank statements and the last two years of business tax returns. This income is averaged over the two year period to arrive at qualifying income.

How Is Your Credit?nbsp;

This of course is a bit obvious but the difference here is how you view your personal credit compared to how a lender views it. Sometimes borrowers who have had a recent late payment on a credit card mistakenly assume their credit has been damaged. However, one or two late payments over the past couple of years wont matter. In addition, late payments on a credit report are only reported if the payment was received more than 30 days past the due date. Someone who gets a bill on the 1st of the month and pays it on the 15th might consider that as a late payment when its not. At least in the lenders eyes.

How Much Money Do You Have Available for the Transaction?

Theres a difference between how much money you have and how much you have available to close on a purchase. Your personal funds might have some reserved for other transactions such as simply going to the grocery store or making a car payment. How much you have available guides the loan officer toward your ideal loan options. Remember, there will be funds needed for your down payment but there will also be closing costs to consider. In addition, the lender wants to make sure you wont be completely tapped out and have some cash left over after closing. These funds are referred to as cash reserves.

When Do You Want to Close?

Is this a short term purchase that needs to close soon, such as 20-30 days or are you looking at buying and financing sometime down the road? This gives the loan officer the window needed to make sure you meet the contract date without fail. Many escrow periods are for 30 days but other transactions can take longer. Many long term transactions dont yet have a property identified and are looking just to get a preapproval.

Have You Been Preapproved?

Getting a preapproval letter from your lender lets the sellers know youre serious about this. A preapproval means youve already submitted a loan application along with needed documentation. The lender will also review a credit report. This answer will also alert the lender that youve submitted an application to another mortgage company. Remember, a preapproval isnt the same as a prequalification. A prequalification can occur with a phone call but has no verification of the information provided.


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On-Hold or Fast-Forward?

Is half your life on-hold and the other half going fast-forward?

At the same time, youre obsessed with deciding what more you can do to help target prospects believe they can pursue their real estate goals to buy or sell in 2021.

Working during a pandemic can be a distracting and exhausting mix of not being able to take proven, profitable professional actions while being forced to adjust to new and continually-changing everything else. Some context stays the same, but a lot seems unfamiliar.

Real estate professionals are going through these stresses on two levels: in their own personal worlds and, second-hand, those of target prospects and clientsbuyers and sellers.

Your income and professional growth is linked to what target prospects and clients accomplish with your help. In these uncertain times, the question becomes, What is on-hold for them and what seems to be on fast-forward? Answer those questions and youll be closer to determining where their attention and, therefore, your next deals lie.

Who is ready and able to buy or sell?

The easy way to answer this question is to ask targets individually:

1. When this is practical, do it There is little substitute for personal contact, even when it is online, over the phone, or safely distant. Prioritize your contact list and away you go.
2. When one-on-one contact is not practical, you still want the prospect or past client to feel personally connected. How are you modifying your prospecting systems and sales processes to reach out? How are covid-driven service reductions counterbalanced to create service enhancement? No one wants to feel they are settling for less.

Before you dig into either or both of these outreach approaches, stop and ask, Whats changed and what should be changed?

Your prospecting systems, sales processes, listing presentations, listing marketing campaignswhat and how you communicate probably need overhauling. Effectively incorporating social distancing takes thought and new approaches. Adjusting to virtual or online communication instead of face-to-face exchanges demands a new sales process. And on it goes.

Whatever you did in 2020, got you through 2020. Now, in 2021, are these temporary accommodations and pivots appearing more permanent? Are they the best long-term approach to monetizing your efforts and enhancing productivity?

No more making do:

1. Clarify Context:

Step back and take a close look at the systems and processes that drove your successful practice pre-covid. Determine exactly what you have changed to keep things going when return-to-normalcy seemed around the corner. Now theres no going back. Decide how to make these temporary fixes even more productive and cost-effective than your original, pre-covid business machine.

2. Dust Off Your Stories:

Youre not a psychologist, but you will benefit from responding to the new and continuing stresses that your target group is battling. Staying safe and keeping clients, staff, colleagues, and family safe is the number one goal in the real estate services you provide, but that is not all there is to it.

Its time to dust off your signature real estate stories. You had stories that helped buyers decide when to act and helped sellers decide when to list. Are they still >

Review the other stories that communicate opportunity to clarify why they worked and how they can be improved on. How will you make your point now? Youll need knowledge of targets present lives and fears to be effective:

How are you keeping in touch with the target group that youve built your practice around over the years?
What is on-hold for targets?
What has accelerated or overloaded them?
What are they used to doing, but cant?
What rush of changespositive and negativeare they facing?
What are their fears and dreams regarding real estate?

To open new lines of sales communication and remain >

3. Time for New Tools?

Pandemic adjustments have raised demands for new tools. Some will last and some will fade away when the pandemic ends.

Before you invest in expensive new equipment and services, analyze your evolving market and changes in your chosen sales areas. Clarify how much additional work and ongoing cost would be involved?

Research whats new and exciting in marketing tools, but take care to evaluate cost-effectiveness specific to your practice. For instance, attracting pandemic-weary viewers with dazzling 3D virtual tours may not be the most important marketing approach for your markets.

Keep in mind that marketing tools assist sales, they dont close the deal. You, your expertise, reputation, and ingenuity still determine sales success.


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What to Expect When You Close on a House

Buying a house is one of the biggest things you might do in your life.

The final step in the process is typically the closing. Once you reach this point, it can be a >

The closing date is usually decided during the contract negotiation. Itll be listed on your purchase agreement. A seller accepts your offer, the earnest money is paid, and then, at some point youll have your closing.

A closing date can be weeks or months after the formal acceptance of your offer, depending on how much time is needed to complete the deal. Being prepared can speed up the process.

Go Over Your Closing Contingencies

If you have a good team on your side, the closing process should go pretty smoothly.

You will need to make sure all the closing contingencies are completed.

These often include the home inspection and appraisal, the completion of your loan documents, and the purchasing of homeowners insurance.

The final walkthrough is usually scheduled 24 hours before closing. This is not the same thing as an inspection. Your agent should schedule your final walkthrough. During this time, the seller should have removed all their belongings.

The condition of the home should match what you agreed onotherwise, let your agent know.

Common Problems That Delay Closings

As was touched on, to get to a closing date can take weeks or even months. Knowing what some of the most common hurdles are can help you avoid them. Some of the things that often delay the closing date include:

Appraisal problems
Loan issuespreapproval can help you avoid this
Problems with the home inspection
Issues that arise during the walkthrough
Problems with the paperwork

Closing Costs

Once you make it to your closing date, there are closing costs. These are fees charged by third parties before the purchase of your new home can be finalized.

Closing costs tend to include appraisal fees, attorney expenses, and your premium for your homeowners insurance.

Overall, the closing fees usually come out to anywhere from 3 to 4 of the purchase price of your new home.

Your lender should send you a Closing Disclosure at least three business days before your closing date. This will tell you all the terms and costs, as well as who pays what and to whom its paid. Go over these costs carefully and make sure they match what you received in your Loan Estimate.

What Happens on the Day?

Once you arrive at your actual closing day, youll need to bring your photo ID, any paperwork or documents that are still needed for the mortgage loan officer or title company, and a certified or cashiers check. The check needs to be made payable to the title or closing company. The check is for any closing costs that arent deducted from the sales price.

On closing day, youll pay any remaining closing costs that you should already be aware of based on your review of your Closing Disclosure.

The seller signs documents transferring ownership of the property.

You will sign a few things, including a settlement statement that outlines all the costs >

Once you close on your new home, you may be able to move in as soon as the paperwork is completed unless the seller has asked for different terms, but those will already be in your contract.


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How Real Estate Agents Can Use Canva to Grow Their Business

Digital and social media marketing are more important than ever for real estate professionals. The real estate market is hot in many places around the country, but as an agent you have to be creative in connecting with prospects since so many people are spending more time at home due to the ongoing pandemic. Traditional outreach doesnt work the way it once did.

If you arent already using Canva as part of your marketing, make 2021 the year you embrace the platform.

Many of Canvas features are free, and they allow you to become a graphic designer with no experience.

The following are key things to know about Canva and how you can use it to elevate your marketing this year.

Simplicity

One of the biggest perks of Canva, aside from the fact that you can use it for free, is that its incredibly simple and easy to use, even if you have no graphic design experience. Its like a free, basic photoshop, but you dont need to have all the editing skills.

Everything is done with drag-and-drop.

There are tens of thousands of templates to choose from, and you can customize them in just a few clicks.

Some of the many template categories include Instagram posts, Pinterest posts, flyers, infographics, and Zoom backgrounds.

You can use Canva on your laptop or desktop, but there are also mobile apps.

If you want to add your own photos, you can connect the apps to your phones photo library. You can also edit your photos directly in Canva.

If you want to use a graphic, there are millions available through Canva, some of which are free and others cost 1.

There are also stock photos that are 10 each, which tends to more affordable than other stock photo sites.

Using Canva for Social Media

One of the first places to start if youre a real estate professional whos never used Canva could be to brand your Facebook cover image. You can also create a branded image specifically for your LinkedIn and Twitter accounts.

From there, experiment with Canva to make all of your social media posts polished, professional, and creative.

When youre editing photos, you can add text so youre creating your own meme, you can add a textured background, blur your photo and more.

Resizing

While there are many, perhaps one of the best features of Canva is Magic Resize. If you use multiple platforms for marketing, you likely know how time-consuming and challenging it can be to redo your designs multiple times to ensure they fit the platform properly.

If you use the Magic Resize tool, you can resize all of your graphics simultaneously to fit different formats. This is part of paid Canva Pro, but for a lot of agents, its something well-worth the cost.

That means you dont have to worry about figuring out what the most updated aspect ratios are for different social media sites.

Brand Kit

The Canva Brand Kit features are also great for agents. You can choose your brand imagery, fonts, and colors and then quickly access them.

Again, this is part of Canva Pro.

It helps you stay consistent across all of your marketing, and you can share your brand kit with anyone youre working with on your marketing materials so they can stay consistent as well.

If you arent sure where to start, Canva has free video tutorials on their site. The videos are part of their Design School, and you can start with the basics and then move on as you build your skills.

With time, you might find that using Canva becomes one of the most important assets as you build your business in 2021 and set yourself apart from the competition.


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How Landlords Can Prepare for Changing Tenant Demands

Tenant demands are changing in response to evolving preferences and external influences, particularly from COVID-19. There is increased emphasis on rental experiences that integrate technology to provide safety, flexibility, and convenience to tenants. Property managers and landlords must stay on top of these changing demands in order to minimize risks, increase tenant retention and maximize profitability.

Changing Demands From COVID-19

COVID-19 has had a major impact on our way of life, particularly when it comes to how we interact in shared spaces. Hygiene has become a much bigger concern for building renters and managers. Occupants are forced to be extra vigilant for surfaces or behaviors that can increase the risk of exposure to disease-causing germs. As a result of the pandemic, renters are looking for tenant experiences that offer convenience and cater to their health safety.nbsp;

As such, theres increased emphasis on mobile-friendly housing, package delivery, and online payments and communication.

Mobile-Friendly Housing

Tenants will continue to prioritize convenience and user-friendliness into the foreseeable future, which means more smartphone capabilities. Phones are a huge part of our lives and there is increasing demand for mobile-friendliness in everyday life. The majority of Generation Z renters want technologically advanced apartments with smart features such as adjustable temperature, lighting, and garage access, all which can be done easily with a smartphone app.

Technology that enables renters to remotely lock or unlock the door is becoming more important, as well. Tenants want to be able to access and manage their spaces without the need to carry keys or other physical access tokens that may be easily lost or stolen. In addition to enabling automation, mobile apps also support a video interface for visitor management and package delivery.nbsp;

Package Security

COVID-19 has meant more people working from home. Many restaurants and shopping facilities have also been closed or instituted capacity limits. Consequently, the rise in e-commerce has skyrocketed.nbsp;

Renters are drawn to buildings that have a system for safe and secure package delivery, especially with contactless delivery options. Multifamily buildings may use a variety of methods - including one-time-pins, QR codes, and video intercom, to facilitate convenient access to delivery people with minimal interactions. In addition, renters want to know that packages can be delivered safely even when they are not at home or around to answer the door.nbsp;

Online Payments and Maintenance Requestsnbsp;

The need for convenience has resulted in growing preference for online payments and maintenance requests. Having to visit the propertys front office in order to make a payment or request maintenance is no longer a reasonable or safe option. Renters can - and want to - use technology for their own convenience and safety. Landlords who accept online payments and are receptive to mobile maintenance requests are perceived more favorably.nbsp;

How Landlords Can Respond to Changing Demands

As landlords strive to provide a well-maintained property and stay on top of maintenance, they also need to respond to evolving tenant demands. This is best done by aligning with renters preferences and finding solutions to problems that crop up.nbsp;

Moving to Cloud-Based Software

Innovative, modern technology makes it possible for landlords to streamline health and safety, efficiency, facility reputation, and security issues. Landlords can also look to technology as a way of ensuring a seamless tenant experience at their facilities. But on-site software solutions are expensive and time consuming to install and maintain.nbsp;

Cloud-based software solutions give landlords and property managers the ability to manage their facility remotely. This can mean changing access permissions without having to manually make adjustments in the on-site system or granting access to building staff or a locked out tenant without having to visit the property. Cloud-based systems also support contactless and touchless technology which is a highly-sought amenity for renters.nbsp;

Package Management System

Secure delivery management has become an important part of a modern tenant experience. Landlords need to provide a secure method for authenticating delivery people and ensuring that package delivery is not subject to theft or porch pirating. This may be achieved by integrating a visitor management system or strategy to coordinate with delivery people and couriers. This could include an intercom system that gives tenants the discretion over their packages and deliveries. It could also integrate access control functionalities that issue temporary access via pin or QR code. Either way, landlords and property managers should be prepared to demonstrate to tenants that they are prioritizing deliveries.nbsp;

Communication With Tenants

Effective communication is at the core of proper tenant management. Landlords need to convey meaningful information at the right time, to the right people, and using the right channel. A convenient, timely, and efficient method for interacting with tenants ensures that issues can be addressed in a timely manner. Creating an environment where efficient and timely communication is the norm can help ease building management tasks, enhance a buildings reputation, and boost tenant retention and acquisition.

Conclusionnbsp;

Rental buildings that are able to successfully adapt to change and maintain the trust of their tenants are those that will withstand adversity. COVID-19 has changed the multifamily industry in almost every capacity. Seeking out the right smart technology solutions to respond to changing tenant needs, regardless of the reason for those changes, not only inspires tenant trust and loyalty, but also simplifies property management for landlords and property managers.


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Updated: Saturday, February 27, 2021

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Buying a house is one of the biggest things you might do in your life.The final step ...

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