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        <title>Michigan Property Management Blog</title>
        <link>http://www.jmzmanagement.com/blog/</link>
        <description></description>
        <item>
            <guid>http://www.jmzmanagement.com/blog/michigan-property-management-tips-how-to-find-the-best-tenants-for-rental-property.html</guid>
            <link>http://www.jmzmanagement.com/blog/michigan-property-management-tips-how-to-find-the-best-tenants-for-rental-property.html</link>
            <author>clientcare@jmzmanagement.com (JMZ Property Management)</author>
            <title>Michigan Property Management Tips - How to Find the Best Tenants for Rental Property</title>
            <description> <![CDATA[ 
Michigan Property Management Tips - In Search of the Perfect Tenants


When trying to fill rental space, good tenants (the kind that
pay on time, keep a clean home, and renew their lease for years) rarely come to
you by accident or stumble across your listing. 
They connect with a landlord or property manager by strategic design.


Don't get stuck thinking good tenants are only in great
neighborhoods or come from affluent backgrounds.  Good tenants are everywhere, even in the
heart of some of the least-attractive suburbs in metro Detroit.  If you're investing in property, you want to
find the best tenants to fill your space. 
This reduces your overall costs and keeps a positive-income producing
investment from becoming a liability.


Here are some tips on how to do just that.


Finding Good Tenants Starts with Appearance


Too many landlords focus on the attitude and appearance of
prospective tenants, but they should really be focusing on their own
appearance.  You should be trying to
satisfy and impress your tenants, because a quality tenant is judging you and
your attitude.  They won't likely rent
from someone they feel won't care about their issues, or be difficult to work
with.


If you can't be bothered to shave, shower, dress
appropriately or be kind - what indication do they have that you'll care enough
to tend to their issues?


Know a Good Tenant in Order to Find a Good Tenant


Every landlord and property manager in Michigan has a
different concept of the ideal tenant. 
You need to figure out who your target market is before you start
searching to fill a space.  Do you want a
working professional?  Do you prefer
college students for short term leasing? 
Do you prefer single individuals or do you want a family with children
in your units?  Perhaps you prefer
seniors.  If you don't know who you
prefer, you're more likely to end up with someone you don't want.


Avoid Showing Unfinished Properties


If you bought a house and plan to rent it out, don't show it
to prospective renters or allow the property manager to show it before work is
finished.  You might be able to picture
what everything will look like when it's done but the tenant has no idea.  All they see is unfinished home.  This is one way to scare away ideal tenants
in a hurry.


Get Good Tenants by Highlighting Benefits


A common sales tactic is to focus on the benefits people get
by buying something.  In your case, once
you know your ideal tenant you can target the benefits to them.  That means including marketing information
that features nearby businesses that relate to their shopping and lifestyle,
activities, landmarks, gyms, shopping malls, etc.


Charge Application Fees to Find Good Tenants


Charging an application fee offsets your costs relating to
background and credit checks.  More
importantly though it will weed out the tenants who don't have a lot of
money.  If a potential tenant can't
afford a small application fee, there's a good chance you'll run into problems
in the future with collecting rent.  Another
indicator is that if the check written for an application fee bounces then it's
a red flag to turn them down.  Ideal
renters and good tenants feel comforted by this kind of system because they
know that they will be less likely to encounter "icky neighbors".


Meet and Greet Tenants Where they Live


Conduct a tenant interview in their current residence if
possible.  Some of the worst tenants in
the world are the most well-spoken and best-dressed people when they meet at
your office.  A look at their current
residence can often show you how they typically live, spend their money and how
they take care of their living space. 
Even if someone cleans up, they would be hard pressed to hide damage to
the unit along with their belongings.


Dig Into Rental History


A thorough background check can save you a lot of heartache
and expense.  Don't just talk to the
current landlord, talk to the previous landlord.  If the tenant is a serious problem, their
current landlord might be eager to get rid of them and give them a glowing
referral just to get them out of the rental unit.  A previous landlord can provide a more
accurate picture of the tenant.
 ]]> </description>
            <pubDate>Fri, 26 Oct 2012 14:33:38 -0400</pubDate>
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        <item>
            <guid>http://www.jmzmanagement.com/blog/property-investment-tips-when-to-hire-a-northville-property-manager.html</guid>
            <link>http://www.jmzmanagement.com/blog/property-investment-tips-when-to-hire-a-northville-property-manager.html</link>
            <author>clientcare@jmzmanagement.com (JMZ Property Management)</author>
            <title>Property Investment Tips - When To Hire a Northville Property Manager</title>
            <description> <![CDATA[ 
While we love working with landlords who need a property
manager in Northville, Novi, Canton, and even into Ann Arbor we're also
realistic about the services we offer; it's not for every property owner.


So when should you hire a property management company?


There are a lot of advantages, but every benefit to hiring a
property manager in the Detroit area comes with an expense.  That's something that property investors and
landlords have to consider when running their business.


Here are some key indicators on when it might be time to
hire a property manager for your properties around the Northville and Novi
area.


You have a lot of properties


If your portfolio is spread out around Northville, Novi,
Royal Oak, Warren, Canton and other areas from Oakland to Wayne county then it
gets to be difficult to maintain them all personally.  The more units you have the more you'll benefit
from working with a property manager.


There's a large gap between you and the property


If you travel frequently to your rental properties then
travel times adds up when with the increase in that travel gap.  A number of our clients live in other areas
like northern Michigan and even out of state. 
Having a property manager locally in the area can ensure that your
rental units stay safe, and attractive - and you don't have to jump in the car
for an hour drive or more if something comes up.


Tired of hands-on property management


Whether you're growing tired of the day to day management or
you don't want to deal with it from GO, a property manager can handle every
aspect of your Northville properties so you can watch over your investments
that much easier.


Dealing with limited time


There are only so many hours in the day, so if you have
business or personal things that take priority. 
This is especially true if being a landlord isn't your day job.  In this case, a property manager is an
excellent investment to cover your property when you can't be there.


Avoiding employer expenses


Busy property investors sometimes wind up hiring maintenance
staff and other workers to help them with the day to day operations of their
properties.  If you're not interested in
being an employer (and the expenses that go with it) then contact a property
manager.  The cost is much lower than
full-time staffing and you'll benefit from the experience of the property
management team.


If you're worried about the cost, don't hold back.  Take the time to talk to a few Northville
property management companies to find out the fees relating to your rental
properties.  You may find the service to
be not only affordable but a valuable addition to your operations.
 ]]> </description>
            <pubDate>Fri, 12 Oct 2012 20:27:56 -0400</pubDate>
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        <item>
            <guid>http://www.jmzmanagement.com/blog/a-slave-to-the-rental-property.html</guid>
            <link>http://www.jmzmanagement.com/blog/a-slave-to-the-rental-property.html</link>
            <author>clientcare@jmzmanagement.com (JMZ Property Management)</author>
            <title>A Slave to the Rental Property</title>
            <description> <![CDATA[ 
Managing your real estate investments can be a frustrating,
never-ending stressor.  If you own
multiple rental properties that are scattered across the metro-Detroit area then
you know it's easy to get overwhelmed by all the tasks and property management
necessities.  What alternative do you
have?  It seems counter-productive to
have a full-time employee (or multiple employees) with salaries that eat up
your profits. 


That's why a lot of real estate investors choose a property
manager in Michigan.  Not only does a
property manager help you maintain the condition of your investments, but they
manage your tenants as well.  Here are a
few of the crucial tasks you can delegate when you hire a property manager for
investment properties in Novi, Northville or even Royal Oak.




Locate new tenants for unoccupied units


Screen potential tenants through interviews,
background checks and credit screening


Overall property maintenance to keep a home
habitable, up to code, attractive and inviting.


Make necessary repairs when necessary, including
emergency repairs


Collect rent, prepare income statements for the
property and provide reporting


Attend to the complaints and concerns tenants may
pose.


Handle problem tenants, disputes and evictions
as needed




That's list might seem small, but for a single landlord it
can be a mountain of duties and constant running once you get multiple
properties or multi-unit dwellings.  So
what's the next step to alleviate the stress?


Knowing How to Pick the Right Property Manager


A few key areas should be noted when you want to hire a
property manager for rental units in Wayne or Oakland counties.


1. Check Licensing - Make sure the property manager carries
a license through local housing authorities. 
A lot of updates and repairs may require permits or a licensed
contractor to complete.  You want to work
with a property manager that has experience and formal training in managing
every aspect of your property from repairs to the business side of operations.


2. Interview - Take the time to interview your property
manager as well as others if you get multiple quotes.  Ask them about their past experience as well
as references from previous clients.  If
the property manager is a newer company, and can provide a resume or CV of
previous management experience, it's a good idea to call those employers 


3. Shop Around - Do contact more than one property
manager.  This will help you make a
decision about who can provide the best property management services that
specifically suit your needs.  Interview
each but avoid making a decision solely on price.  If you choose the cheapest property
management company, you'll more than likely get what you pay for.


4. Relevant Experience - An established property management
company is likely a good choice if they have at least 3 years of experience
managing properties similar to your own. 
For example, working with a commercial property manager when you need
someone with multi-unit experience may not be a good fit.


Even if you enjoy working with your hands and dealing with a
people, there will come a point where you only have so much time in the day and
a growing list of to-do items.  You will
either hit a ceiling on growth because you can't manage additional properties
and you'll remain stuck, you'll take on additional help via employees, or
you'll choose to work with a property manager to continue to grow your investment
portfolio - and free up more of that time to enjoy what you've built.


If you're ready to break your hands free from being tied to
properties and ringing phones, contact JMZ Property Management today.
 ]]> </description>
            <pubDate>Fri, 07 Sep 2012 19:21:11 -0400</pubDate>
        </item>
        <item>
            <guid>http://www.jmzmanagement.com/blog/buying-a-foreclosure-investment-property-watch-out-for-these-problem-areas.html</guid>
            <link>http://www.jmzmanagement.com/blog/buying-a-foreclosure-investment-property-watch-out-for-these-problem-areas.html</link>
            <author>clientcare@jmzmanagement.com (JMZ Property Management)</author>
            <title>Buying a Foreclosure Investment Property?  Watch Out for These Problem Areas</title>
            <description> <![CDATA[ 
Whether you’re new to investment properties or you’re
looking to add another property to your portfolio, you’ve likely considered
buying up foreclosure properties.  Given the
difficult economic climate, a lot of homeowners are forced to walk away from their
properties, leaving the bank to try to reclaim lost money through foreclosure
sales.


Buying one of these properties comes with a number of
opportunities, but there are also plenty of challenges and potential pitfalls
that could hurt your investment portfolio - especially if you’re also investing
in a Michigan property manager to handle your rental units for you.


Buying a Foreclosure is an Impersonal Experience


When you purchase a foreclosure in Michigan, you’re not
dealing directly with a homeowner.   You’re
dealing with a faceless financial institution. 
The bank wants the asset off their books.  They don’t see it as a home, or your home, or
a rental property.


Dealing with a bank means waiting long periods for
replies.  There’s no opportunity for
introductions, passing notes, sharing stories over coffee, etc.  The agent for the bank likely won’t even show
the contract.  They simply input the data
and the asset manager looks at the bottom line. 
It’s a numbers game for the bank.


Expect Nothing in the Way of Disclosure


REO properties, or foreclosures, are “real estate owned”.  This means that the bank owns it after it
goes through the complete foreclosure process.


With this type of sale, there’s no disclosure.  That means you have no knowledge of the
experience the previous owner had. 
Without that information you’re going in blindly.  This required due diligence where you do your
own research to find out some information on the property before investing your
money.  Buy the wrong house and you
cripple the profit potential of your portfolio. 
Not even the best property management company in the world can put good tenants
in the wrong home.


Prepare to See Gutted Homes


Not all homeowners are bad, or malicious.  Some tried desperately to push a short sale
through before they lost their home and had to walk away.  Some however take the steps to gut a home of
all appliances and fixtures - including copper plumbing - right before they
leave.


They’re either hurt, vindictive and out for revenge or they’re
trying to recoup some of the costs.  In
many cases, homeowners just have hard feelings toward the bank so they feel
justified in damaging the property.  It
doesn’t really hurt the bank, but more the value of the home.  As a result, it lands on you as a
responsibility to fix if you buy the property


Don’t Expect the Bank to Fix Anything


Your offer and the already discounted listing price should
already account for the risk associated with buying an “as is” property for
investment purposes.  As a buyer, your
contract permits an inspection, so you’ll be able to find out a great deal
about the property, and you’ll want to review it prior to making an offer.


Just don’t ask the bank to fix issues in the home.  The odds are slim to none that you’ll get
credits or items repaired on a foreclosure.


Ultimately, there are a lot of tempting deals out in the
market right now.  If you’re considering
the purchase of another property, remember to look at other options as
well.  That price tag on the outside
might be tempting but once you dig into the structure of the home you’ll likely
see that the investment will require more in the long-run that you may not be
able to afford.
 ]]> </description>
            <pubDate>Fri, 24 Aug 2012 19:08:58 -0400</pubDate>
        </item>
        <item>
            <guid>http://www.jmzmanagement.com/blog/property-manager-tips-how-to-improve-the-value-of-rental-property.html</guid>
            <link>http://www.jmzmanagement.com/blog/property-manager-tips-how-to-improve-the-value-of-rental-property.html</link>
            <author>clientcare@jmzmanagement.com (JMZ Property Management)</author>
            <title>Property Manager Tips - How to Improve the Value of Rental Property</title>
            <description> <![CDATA[ 
When you're dealing with investment property, adding value
can be a balancing act.  One that
requires a lot of fine tuning, especially because you have overhead and
expenses to consider such as property taxes, hiring a Michigan property
manager, landscaping, maintenance and updates, marketing and more.  


There's a lot you can do to improve the value
of your property to command more rent or attract a better sale price, but it's
also about making the numbers work. 
Invest too much and you can push the value beyond the local limits -
effectively making the house unattainable.


While homes typically appreciate over time for a variety of
reasons, you can also directly control the value on rental properties by
putting work into the home.  Even slight
touch-ups can dramatically increase the appeal and make your property stand out
over others.  When investment property
attracts interest, you can charge more rent and it's easier for your property
manager to find quality tenants.


Steps to Consider Before Updating Investment Property


Before you actually start any work - even before planning -
you need to get in touch with a local property manager in Michigan like
JMZ.  We can help you determine what
tenants are looking for, what types of homes rent quickly, and at what rates.  Some features are in high demand, such as
protected properties with alarm systems, dishwashers, central air, etc.  Some improvements can pay for themselves quickly
while others may take a longer investment to pay off.  


A good property manager can advise you on what amenities and
updates will appeal to tenants in the area, and which ones can be a turn-off.


Bring in the Professionals


A property manager is a good place to start, but if you're
going to invest more than a few thousand for updates and renovation then get
the help of a designer.  This way you're
keyed into which updates have the most visual (and functional) impact on the
home - and how to do it cheaply.


Curb Appeal - Start outside, because this is where you'll
make your first impression with tenants. 
A lot of good tenants take pride in their home and they don't want
people to look down on them for the condition of their property.  Update the landscaping, trim trees, tend the
grass and keep it lush, replace the mail box, update the numbers on the home
and paint the exterior as needed.


Don't forget about the curtain on the inside as these can be
seen from the street.  Good curtains are
also important because if you can block the majority of the light you'll keep
your carpet and wood floors from fading prematurely due to harmful UV rays.


Keeping the Home Clean - Never overlook cleanliness when
you're between tenants.  Avoid shortcuts
to get a space ready for renting.  You
want to immediately deal with stains, mold issues, carpet cleaning, paint touch
up, appliance cleaning and repair, sanitizing and more.  If you're limited on time, then pay a
professional or bring in a Michigan property manager who can make the space
look like new.


The Kitchen and Bath - These two rooms attract the most
attention in a home, but they can be expensive to improve.  Keep these rooms clean to avoid expensive
remodeling.  Try to use longer-lasting
materials to reduce yearly maintenance at tenant turnover.


Security - You can make tenants feel safer and more
comfortable in a home by adding additional security.  If you're not sure what to use, talk with a
property manager to see if they recommend certain locks or an alarm company for
monitoring the property.


Lastly, don't set prices and walk away.  Keep up on market trends to make sure that
you're charging fair rates for your property - rates that are representative of
the current local market as well as the condition of your rental property.  If you feel like your numbers are still off
then contact us, we'll be happy to review your current situation and help you
set a rental rate that meets the expectations of your ideal tenant.
 ]]> </description>
            <pubDate>Fri, 03 Aug 2012 16:08:18 -0400</pubDate>
        </item>
        <item>
            <guid>http://www.jmzmanagement.com/blog/top-questions-to-ask-your-next-michigan-property-manager.html</guid>
            <link>http://www.jmzmanagement.com/blog/top-questions-to-ask-your-next-michigan-property-manager.html</link>
            <author>clientcare@jmzmanagement.com (JMZ Property Management)</author>
            <title>Top Questions to Ask Your Next Michigan Property Manager</title>
            <description> <![CDATA[ 
When was the last time you thought about your lack of free-time,
or how much gas you were wasting traveling between your rental properties?  If you’re wishing for a lot more freedom,
then you need to build an effective strategy to manage your day by day routines.


Either that or invest in a Michigan property manager.


To get the most out of the associated costs of a property manager
in Oakland and Wayne county, you need to carefully assess what you’re capable
of handing over and the exact services they offer.  Based on what you’re willing to delegate you’ll
be able to choose (much easier) which property manager is best suited to meet
your needs.


Asking the Right Questions


Based on your needs, you can check into a number of
property management firms that offer the services you’re looking for.  This is where due diligence is important,
because you can’t just hire a property manager in Northville, Royal Oak,
Birmingham, Detroit or other southeast Michigan city based on pricing alone.


Remember; you get what you pay for and it’s an unfortunate truth
that there aren’t a lot of high quality property management agencies in the
Metro-Detroit area.  The individuals
handling your properties and real estate investments are essentially managing
that investment for you.  That means they’re
playing with your money, so experience is important.


Here’s a list of questions to run through with a Michigan property
manager to make sure they’re a good fit for your needs.  Mind you this is not an expansive list, but
it hits on key points that will help you weed out the ones who moonlight as
property managers in Michigan.




How long have you been a property
     manager?


How long have you been a manager
     in this area?


How many vacancies do you have
     right now?  Out of how many total units under management?


What is the average length of
     time it takes to fill a vacancy?


What does your lease look
     like?  (You need to see a copy of this, along with any other forms
     and documents the manager uses with tenants.)


What is your late rent policy?


What percentage of tenants do you
     have to evict?


How does the eviction process
     work here?


What are your management fees?


What do you charge for recruiting
     new tenants?


Do you charge for monitoring and
     maintaining vacant units?


What are my guarantees?


Do you also market properties as
     a broker?


If I decide to sell my property,
     do I have to list it with you?


Can I see some of the other
     properties you manage?  (Of course you will probably not be able to
     see inside rented apartments or offices.  But you should be able to
     see common areas and grounds.)


How do you market your
     apartments?


Do you recommend special
     incentives for tenants?


If I want additional marketing
     for specific vacant units, how would we arrange that?


How do you screen prospects?


How do your tenants contact you?


 ]]> </description>
            <pubDate>Fri, 27 Jul 2012 20:24:52 -0400</pubDate>
        </item>
        <item>
            <guid>http://www.jmzmanagement.com/blog/4-simple-tips-for-buying-new-investment-property-in-michigan.html</guid>
            <link>http://www.jmzmanagement.com/blog/4-simple-tips-for-buying-new-investment-property-in-michigan.html</link>
            <author>clientcare@jmzmanagement.com (JMZ Property Management)</author>
            <title>4 Simple Tips for Buying New Investment Property in Michigan</title>
            <description> <![CDATA[ 
If you want to continue to diversify your investments then
now is the time to buy investment property in Michigan.  You can take advantage of the current market
and generate even more income as well as tax benefits.


The trick to expanding your investment properties and
portfolio is in buying.  If you're not
careful about picking properties, no property manager in Michigan can save you
and you'll being sinking money into marketing and general contractors trying to
fix the asset that turned into a liability.


Our experience as property managers in Michigan working with
a variety of landlords and property funds has given us a great insight into
purchasing and managing properties.


1. Buying investment property at the right price


Working and negotiation on a bargain now will bring you the
best price later.  A lot of real estate
investors - especially new ones - get caught up in the amenities and attractive
features of a home, or the location, with the idea that they can rent it for a
great price and it will attract all kinds of buyers.


Unfortunately, if you overspend on even a nice home it will
be extremely difficult to recoup your costs. 
What's worse is that if you overpay and don't try to negotiation a
better deal, your monthly costs will go up which could leave less income for
important services like a property manager or accountant.


Before buying a home, take your personal feelings and
emotion out of it.  Know the rental rates
in the area, and factor that into what your monthly costs would be after paying
back a Michigan mortgage lender or providing interest to a private lender.  You also need to consider others costs
including insurance, tax, utilities, etc.


2. Find the right neighborhood for investment property


For other homeowners, rental properties aren't always
favored, as rentals don't always make good neighbors.  You want to find a community where your
rental property is far more likely to be accepted by the locals.  This doesn't necessarily mean you have to
find a "rental community", but it pays to know the general
disposition of the locals.  


If new renters are made to feel unwelcome, they're far less
likely to stick around and renew their lease. 
Remember that the most expensive side of town does not equate to the
most comfortable neighborhoods, and rentals in bad areas can do just as
poorly.  


It takes real research and time to find the right
neighborhood for an investment property.


3. Know the local regulations on rentals


You need to understand the local regulations on rentals
because rental properties are treated more like a business than a residence.  Permitted dimensions and layouts might be
fine for a residential but they may not be accurate or allowed for
rentals.  For example:  a listing of a home for sale from a Wayne
County real estate agent might say 4 bedrooms, but if that same home were a
rental it might only be a 2 bedroom based on permitted occupancy per square
foot.


4. Consider the maintenance and keep it simple


You may love the idea of investing in an old Victorian you've
had your eye on, but even working with a Michigan property manager can make the
maintenance a pain.  More elegant and
dated construction requires unique maintenance.


A slate roof, steep roofing or special leaded glass can look
attractive but it will be extremely costly to maintain or improve.  Standard materials from Lowe's just won't
apply, and contractors that have to make special accommodations to work on your
property could charge you more.


When you're looking to buy an investment property, keep
maintenance as well as renovation and rehab, location and the people around you
in mind.  These all affect the profit you
can make from your investment property. 
Also consider ease of access, HVAC, plumbing and electrical, as regular
extra work can wind up costing you a higher monthly rate with a property
management company.


 
 ]]> </description>
            <pubDate>Fri, 20 Jul 2012 17:04:04 -0400</pubDate>
        </item>
        <item>
            <guid>http://www.jmzmanagement.com/blog/which-paint-color-is-best-for-a-rental-property-in-michigan.html</guid>
            <link>http://www.jmzmanagement.com/blog/which-paint-color-is-best-for-a-rental-property-in-michigan.html</link>
            <author>clientcare@jmzmanagement.com (JMZ Property Management)</author>
            <title>Which Paint Color is Best for a Rental Property in Michigan</title>
            <description> <![CDATA[ 
Imagine you're a consumer looking for just the right
rental.  You find a space that is close
to your work, provides easy access to shopping, is in your price range and has
all the amenities you've ever wanted in an apartment.


Exciting right?


Now imagine walking in to see the apartment and you're
greeted by dingy, earth-tone colors and bright orange or red accent walls,
green trim, yellow window accents - aside from attempting not to run away
shaking your head, at the very least you're going to be disappointed.


This is why a lot of property owners with rentals choose to
use specific shades of neutral paint colors. 
They fit most personalities, they aren't abrasive, they blend with
virtually everything and make for the perfect backdrop.


There are a lot of neutral colors out there though, so which
neutral paint color do you choose? 
Making that decision alone can be difficult.  You can work with an individual paint
contractor or consult with a Michigan property manager to help you find the
most appropriate neutral color for your demographic or typical renter in the
region.


Here are some criteria to consider when you want to choose
the best paint color for a rental unit.


1. Make sure the paint color you choose is neutral enough
that prospective tenants are completely scared off by it, or need to squelch
their gag reflex.


2. The right paint color for a rental unit should make every
room look as large and open as possible


3. Colors work differently with different types of
architecture, so choose a neutral paint color that highlights the architectural
details of the home/apartment


4. Don't alternate colors. 
You should use the same neutral color in every room throughout the
entire rental unit.


5. Avoid using custom colors, mixes or brands.  You want a neutral color that is fairly
inexpensive and readily available.  That
means don't try to impress potential residents by using Fine Paints of Europe.


When you speak with a Michigan property manager, you'll find
that a basic white such as Swiss Coffee or Decorator's White does well on
everything except walls.  For the walls
of a rental, it's often recommended to go with a taupe or a very warm gray
(like SW hammered silver).


If you still have a hard time choosing an easy to manage and
attractive paint color on your own, then consider working with a property
manager in Michigan.  Not only can they
help with the paint color choice, but a service like we offer can provide
maintenance coverage, screening and more. 



Contact us today to learn more about working with a property
manager for stress free real estate investments.
 ]]> </description>
            <pubDate>Fri, 13 Jul 2012 17:19:05 -0400</pubDate>
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            <guid>http://www.jmzmanagement.com/blog/landlord-rental-tips-is-hardwood-better-than-carpet.html</guid>
            <link>http://www.jmzmanagement.com/blog/landlord-rental-tips-is-hardwood-better-than-carpet.html</link>
            <author>clientcare@jmzmanagement.com (JMZ Property Management)</author>
            <title>Landlord Rental Tips - Is Hardwood Better Than Carpet?</title>
            <description> <![CDATA[ 
If you're debating a change in the floor of your rental
units and investment property, give it careful consideration before making a
move.  It shouldn't simply be a matter of
which is easier for you or the tenants to maintain.


Ideally, if you're working with a property manager in
Michigan, the general maintenance is included anyhow so maintenance shouldn't
necessarily be an issue.  Let's look at
the pros of adding hard wood floors into your rental space.


Perks of Wood Floors


1. The most obvious perk is already mentioned.  Wood floors are typically easier to maintain
and clean, and have a longer durability and life that most carpets designed for
rental units.


2. Hardwood enhances the overall image of the home which
could help it rent and sell faster down the road.  You might not command a lot more money for
the hardwood, but you'll be competing with other quality homes


3. A well-kept hardwood floor tells renters that you're
serious about taking care of the property. 
In turn, they will believe that you will continue to do so while they
are tenants.


Cons of Wood Floors


1. The most important point in making an argument against
hard wood floors is the lack of durability for many woods.  Moisture and moving furniture around on the
surface can quickly show the signs of wear - especially in heavily trafficked
areas.  The cost to restore it after a
bad tenants could be excessive.  On the
upside, if it's regularly maintained it has the longest life over other types
of flooring.


2. Wood is nosier. 
Simply put.  With carpet, the
fibers and texture of carpet absorb a lot of the sound.  With wood floors, thouse sound waves
reverberate and add to the noise level in rooms.


3. Cost is a big factor to consider unless you have existing
hardwood beneath your carpets.  Even on a
smaller rental you can expect to pay a hefty chunk of change to get hardwood
installed.


4. Moisture can severely damage hardwood floors.  This can occur with big spills, improper
maintenance, leaving pipes or moisture coming up from a cement slab.


 


Pros of Carpeting


1. Carpet is plus, and if you get a decent pile then it will
feel great on barefeet.  A good neutral
carpet can go with just about any type of décor as well.


2. Unlike some wood floors, carpeting can make a room look a
lot more warm and inviting.  Think of
locations that would be far less comfortable if they had no carpet; Dr's,
clinics, businesses, etc.  Carpet makes
everything feel more comfortable.


3. Depending on the type of carpet you get, the actual cost
could be far less than installing hardwood floors.  This really varies based on the materials
used but it's possible to get a long lasting carpet for a fraction of hardwood
flooring.


Cons of Carpeting


1. While cheaper carpeting may be easier to install, you may
have to replace that carpet more frequently or need more maintenance beyond a
simple deep cleaning each time you replace a tenant.  While a property manager in Michigan can help
keep that carpet looking in top shop, it's not going to stay plush forever


2. Trends often change on a dime, so certain styles that are
appealing to renters and even buyers may not be popular or even appreciated
when it comes time for a new tenant. 
Having the wrong kind of flooring in your home can be a serious turn off
to renters.


There are numerous flooring options outside of hardwood
floors and carpeting, and if you're really interested in changing over the look
and style of your rentals these may be more suited to your needs.  If you're not sure what type of flooring is
the most appropriate, contact your Michigan property manager today to discuss
your options.
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            <pubDate>Mon, 09 Jul 2012 13:09:18 -0400</pubDate>
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            <guid>http://www.jmzmanagement.com/blog/tips-to-find-easy-to-rent-investment-properties-in-michigan.html</guid>
            <link>http://www.jmzmanagement.com/blog/tips-to-find-easy-to-rent-investment-properties-in-michigan.html</link>
            <author>clientcare@jmzmanagement.com (JMZ Property Management)</author>
            <title>Tips to Find Easy-to-Rent Investment Properties in Michigan</title>
            <description> <![CDATA[ 
As an investor, you take a big risk trying to buy properties
you intend to hold as rentals if you don’t spend a considerable amount of time researching
the area and the purchase beforehand. 
While a home might look like a bargain, and something that would be
beautiful after some renovation, it doesn’t mean that the home will rent
easily.


If you can’t fill it with tenants, even with the help of a
property manager in Michigan, you’re left holding a liability instead of a
profitable asset.


Before you start picking up investment property, especially
for the first time, there are some things you can do to ensure that your rental
properties will in fact be easy to rent:


1. Talk to rental agents in the area.  If you work with an agent who handles a lot
of rentals in the area, they can you what type of full-time home or vacation
home that renters are looking for. 
Working with a property manager in Michigan can also help in the same
manner because they deal in so many tenant screenings and marketing, staging,
etc.


2. Which properties are the most popular in the area - which
are continually appearing in listings for weeks without getting picked up? Read
over local classified ads to determine the best locations, rental types and
appropriate rent amounts.


3. Find homes that fit local demographics.  For example, if an area for a vacation rental
seems to get a lot of senior citizens then it’s probably a good idea to invest
in one-level living.  If that’s not
really an option, then focus on properties that have the main living quarters
on the ground floor.  


4. Play off the research of local real estate
companies.  Read professional listings
and look for consistent use of keywords like “golfing” “stream” “river” “water”
“view”, etc.  If an agent repeats items,
there’s a good chance they’re in demand. 
Aim for finding property that has one or more of these common features.


5. Rentals close to shopping and major access routes
typically fill up fast, provided the area is safe.  Find something close to outlet malls or other
attractions.


6. You’ll save money if you invest in a well-maintained
property.  You may pay more up front, but
consider the cost to renovate and how long the property must sit empty while a
shabby home is being remodeled.


7. Before you buy into a particular development or
neighborhood, find out if the association or restrictive covenant allows for
rental units within the area.


8. Talk time to meet with an accountant.  This will help you verify that the income you
can realistically expect to receive is in line with the purchase price of the
home and projected maintenance.  Keep in
mind whether or not you’ll be working with a Michigan property manager for your
rentals as part of your operating costs.


Need help developing and managing rental properties?  Get the most out of your investments with JMZManagement.  Contact us today to find out how we can fill rentals, provide hands-free maintenance solutions and improve your rental operations.
 ]]> </description>
            <pubDate>Fri, 29 Jun 2012 14:20:52 -0400</pubDate>
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