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3d Printed Neighborhood Coming To California

3D Printed Neighborhood Is Coming to California 

There is no doubt that technology and industry will continue to evolve in many forms. Many futuristic sectors are currently being developed. Initiatives such as the robotic and the internet of things are becoming more and more of a factor. 

 Another industry that is emerging very quickly is the 3D Printing industry. 3D printing is emerging in various aspects of society. It has become abundantly clear that 3D printing has become a part of the housing industry as well. 

 As hard as it is to believe, there is a desert in California set to become a neighborhood constructed entirely via 3D printing.

 In this piece, we are going to examine this fantastic occurrence in greater depth.

 The location of this potentially historic neighbor good will be the Coachella Valley. Thanks to a partnership between an organization specializing in sustainable real estate development and a construction technology firm, 5 acres of land will become a community of 15 3d-printed houses.

 The construction technology firm is named Mighty Buildings. Mighty Buildings considers this project as a realized fulfillment of its vision for the housing industry’s future. 

 Mighty Buildings is based in Oakland and specializes in creating homes with the use of 3d printers that are pretty sizable.

 The material used by the construction company is designed to harden instantaneously. Thus, roofing and insulation can be done in one seamless process. 

 Mighty Buildings can automate 4/5th of the home construction process while achieving cost savings in manpower. Their approach allows environmental waste to be significantly reduced.

 According to the company’s chief sustainability officer, Mighty Buildings can build a 350 square foot home in a day. 

 The 3D-printed homes will have a modern look. All homes will be 1450 square feet and will consist of three bedrooms and two bathrooms. Also, each home can have another 2 BR/1 BA residence on the premises. 

 Each home will have a pool in the backyard. Individuals can opt for amenities such as hot tubs and fire pits. 

 Prices for the primary 3 BR/2 BA 3d-printed home start at $595,000. If one opts for a two-home setup with enhancements, the price is $950,000.

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How Your Credit Score Affects Home Buying

Credit score has several impacts on people’s lives, among them being home buying. It is a measure of personal credit files that dictates the worthiness of an individual. Let’s look at some of the impacts that a credit score can sum up.

 

Lending and Payment

Apart from a rock-solid financial history, a credit score also matters a lot in approaching lenders. It has an impact on the amount of loan you qualify for to purchase a house. They look much into applicants who have a good record with other lenders, especially on payment duration. Thus, it is also an indication that the respective borrower will be accountable and meet the obligations.

A good credit score implies that the borrower will repay and in the speculated duration. This varies depending on your credit report’s information that brings together your history of borrowed money and payment habits.

 

Mortgage Rates and Credit

For you to acquire the best mortgage rates, your credit score should be high enough. Persons with a low credit score will end up paying more money during the term of their mortgage. This is attributed to the increased interest and monthly payments.

Generally, a credit score of 700 and above will place you in the best position for mortgages and with the best rates. However, there are still better options for credits below 700. Below is a summary of the scores and statuses. 

800 or higher is an exceptional credit, 740 and higher has excellent credit, between 700 and 739 is good credit, and between 630 and 699 results in a fair credit. But for 629 and below results to poor credit.

 

Down payment Amount

When your credit score matches the desired range, you will be in for a reasonable down payment. Additionally, there will be favorable terms such as a lower original fee. Also, borrowers who bring in more cash on the table reciprocate their potential of delivering and fulfilling the agreement terms. 

Borrowers with a low credit score will raise trust issues and will be an accomplice of higher requirements. Such conditions can be incorporating private mortgage insurance into their loans which is results in extra costs. This is pragmatic, especially for new home buyers who need to create a reputable note.

Why Your Properties Should Be Pet-Friendly

W Darrow Fiedler

Pet owners consider their pets to be part of their family. If you’ve ever known someone who owned a pet, you would know it’s almost impossible to convince them to give up their beloved Fluffy to move into a home where they’re not wanted. As a landlord, here are some reasons why you should transform your properties into pet-friendly homes.

Fill Vacancies Faster

Many of your prospective tenants come with pets. According to the 2017-2018 National Pet Owners Survey, about 85 million families, or 68% of U.S. households own a pet. They say that owning a pet reduces one’s stress level. Allowing pets can create a more home-like feel for your properties. If you allow your properties to accept pets, your properties will become increasingly more attractive to the eyes of searching renters.

Keep Great Tenants

Pet-friendly options are not always easy to come by. Tenants with pets are more likely to rent from you longer simply because it’s easier to stay than trying to find another place that allows pets. Additionally, a responsible pet owner is more likely to be a responsible tenant and respect their living quarters.

Pet Rent

The practice of charging rent for a pet is becoming increasingly popular and is widely accepted by renters. The recurring monthly charge, that’s often determined by pet size, simply gets tacked onto the tenant’s rent. Check with your local laws regarding pet rent and research what other landlords in your area are charging. Common fees for cats and small dogs, such as Chihuahuas or Shih Tzus are between $25-$45 a month. If a tenant owns a large dog, like a St. Bernard or Mastiff, the fee can be up to $100. If you own ten properties and they all have a small pet rent fee of $25, that’s an additional $3,000 of additional revenue to you.

Pet Deposit

Similar to a security deposit, a pet deposit can help cover the costs of any damage done by the pet. This protects you as the landlord from paying out of pocket to fix the damage. A typical pet deposit is around $250. Again, check your local laws and the going rate in your area before you settle on a set amount.

Not only will creating your properties to be pet-friendly lead to more revenue but you will also create a stronger relationship with your tenants. Besides, each pet you allow is one less that ends up in a shelter.

How to Become a Fair, Reasonable, and Profitable Landlord in 6 Simple Steps

How to Become a Fair, Reasonable, and Profitable Landlord in 6 Simple Steps

Owning and managing rental properties can be exhilarating. From working with tenants to keeping the landscape fresh and clean, there are numerous ways of managing a property that can bring joy and profitability to not only you but your tenants, as well. You will profit financially, while they will profit from the value added to each property you lease to them. Becoming a landlord is no small task, but it is highly rewarding. Here are a list of ways to prepare to become a landlord.

1) Live Near Your Properties
Make sure you live near the properties you are interested in. If you purchase and manage properties that are far away from you, you will have a more difficult time keeping up with maintenance and making sure the staff is doing things correctly. Make sure to check the property regularly for any needs it may have.

2) Know the Law
There are many laws governing landlords and tenants and they vary from state to state. According to Laura Agadoni from Trulia.com, “Most states have specific landlord-tenant provisions that cover issues such as security deposits, level of access to the property, and how much notice you need to give your tenants when you want them to leave. There also are federal laws you need to know, such as habitability and anti-discrimination laws.” Knowing the law will keep both yourself and your tenants safe and sound.

3) Research, Purchase, and Prepare a Property for Lease
Make sure to find a property that has inherent value, whether that value is in its ability to be renovated and used or move-in ready. Find out ways to research properties in my blog on real estate investment here.

4) Review Each Potential Tenant
Make sure to run a background check on each tenant, as well as check their credit score. You should not sign on a tenant based on these two factors alone. Get two character references and two previous rental references from each tenant. Interview the potential tenants, as well. These vetting tactics should help you to have a broader idea of who the tenant is and what they are about. You will have a better idea of if they will be caring tenants who treat your property with respect and pay rent on time.

5) Make Tenants Pay Rent
If you are too chummy with your tenants, they can start to be “flexible” with when they pay the rent. Instead of paying the rent on time, they may slide back a few weeks. It is important to A) keep a professional relationship with tenants and B) enforce tenants to pay rent on time. One can enforce timely payment by making tenants pay late fees.

6) Make Specific Leases
If you are going to have leases for each rental property, it is important to hire a lawyer who can create the language for your leases. This will keep you safe financially and legally in the event that a tenant takes legal action against you or you need to take legal action against him/her.

These are simple steps you can take to become a landlord that is fair and reasonable with tenants and profitable at the same time. They are logical steps that make sense in the process of managing and maintaining properties. Make sure to keep in mind that owning and leasing properties do not make your rich fast, but in the long haul, they will richly pay off.

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