How to Make Your Rental Property More Desirable
When it comes to investing in rental properties, it’s all about generating income to ensure profit. But like all types of investments, it comes with a risk. Mitigating those risks will require preparation, proper planning, and knowledge. Are you aware of the features that renters look for in a property? Are you sure those features will appeal to them? Whether you want to market your investment property or upgrade your current rental property, you should make it stand out. From significant modifications to minor tweaks, there are many tricks and hacks to make your property more appealing. To get you started, here are three of the most important steps you can take to make your property stand out from all the competition in Philadelphia, PA, and boost your revenue. 1. Hire a property manager You can always decide to manage the property independently, but you should know that managing a rental or even multiple properties is a full-time job. Achieving high returns requires constant attention and assessment of expenses versus the rental value to maintain quality tenants. An experienced and licensed professional will handle all the daily operations as they evaluate all areas with a focus on the long-term goal. You can also hire a backyard landscaping professional to upgrade your outdoors and lawn. But before you connect with a local contractor to discuss the upgrades and request a quote, you can research and assess companies by reading their online reviews. If you’re on a budget and worried about the costs, you can also evaluate which companies offer the best deals or credits for your landscaping project. 2. Fix any repairs This might sound obvious, but it’s easily overlooked. Walk around the property and look for areas that need fixing. Do you see any cracks in the walls? Are there any loose door knobs, light switches, or anything that seems off? Some quick fixes might seem minor, but they can make a huge difference. You want a good reputation and to show tenants that you’re an attentive and active landlord from the beginning – so ensure all appliances are in great condition. Constant maintenance during tenancies is important since it shows you care for your tenants and property; plus, it’s a good strategy to attract quality clients. 3. Video marketing your property If a picture is worth a thousand words, how many is a video worth? Video marketing is one of the most effective marketing techniques. And for other obvious reasons, renters connect more with houses visually, making it ideal for real estate expansion. Start by designing a video showcasing your property to attract prospective tenants. You can use a merge video tool to edit and quickly combine videos and images to design meaningful content. The tool basically allows the user to edit and share the exact moment they want to film/capture. Stand Out From the Competition Designing an appealing rental property can seem overwhelming or costly, but with the tips highlighted in this guide, and a compelling marketing video to attract quality tenants, all the hassle should be worthwhile. If you need a reputable property investment company in Philadelphia, PA, contact Franklin Investment Realty to help you in your venture. – Rhonda Underhill
Top Projects To Revive Your Home
You can do many things to breathe new life into your home. Some projects you can tackle DIY, while others require the help of a reliable contractor. When reviving or refreshing your home, keep in mind that the end goal is to have a healthier space that promotes wellness for the entire family. Here are some suggestions on how to liven up your home. Value-Increasing Projects Your renovation considerations may differ if you plan to sell or rent out versus staying in your home. Renters may expect different amenities than homeowners. For example, updated lighting, fresh paint, and technology, among other things, can attract tenants to your rental property. Kitchen and Bath Some kitchen and bathroom projects add value because people spend a lot of time in these spaces, and everyone appreciates an up-to-date kitchen and a spa-like bath experience. However, refreshing these areas doesn’t have to cost a fortune. Simple changes, such as adding backsplash tile in your kitchen or updating lighting, add value and transform the space. And if you want to add some color, there are plenty of peel & stick wallpaper options to choose from. Outdoors and Curb Appeal Many homeowners and tenants enjoy entertaining. Outdoor improvements, such as fire pits, decks, and fences, increase home value. A beautifully landscaped lawn provides curb appeal and reveals that you take pride in your property. You may want to consider new landscape design, but before contacting a contractor to obtain a quote, read reviews online to ensure your contractor is qualified. In addition, you may find some who are offering money-saving promotions. Basement Consider unused space when thinking about a renovation project because usable square footage adds value to your home. Value-adding remodeling projects include adding a home gym or yoga space in your basement. Alternatively, families and those who entertain may appreciate an entertainment center. After a stressful day, a soothing meditation room may be just what you or other family members need to help you unwind. Organizational Ideas A chaotic environment is stress-inducing. Living in organized spaces helps relieve anxiety and promotes wellness. You can complete many home organization projects inexpensively with minimal supplies and a well-executed plan. Even children can appreciate organized areas where they can find their favorite toys easily. Picking up toys and putting them in their proper places can become a bonding experience for you and your child. Tips for Your Renovation Several of these changes can be DIY projects, but if your project involves plumbing or electricity, it’s best to hire a qualified contractor due to safety issues. Also, contractors normally provide a warranty for their work and relieve the stress of doing the work yourself. The cost of renovating your basement or other areas depends on your location, the materials you choose, and the complexity of your project. If you choose to add carpeting in your basement, remember to add subflooring because carpeting is prone to mold. Be sure to take before and after photos of any project and keep copies of all receipts for materials and labor. Family and Projects Revive and refresh your home by choosing projects that promote family wellness. Simple projects in which the entire family can participate, such as adding wallpaper, encourage family bonding while providing them with a healthier, more organized, and usable space. Franklin Investment Realty agents will provide the information necessary to make the home buying process as easy and efficient as possible. Our agents specialize in the Greater Philadelphia real estate market and have years of experience within the region. Call us today! – Rhonda Underhill
9 Ways to Properly Dispose of Demolition Debris
Construction and demolition (C&D) waste is produced during the construction, renovation, repair and demolition of homes, significant constructions, roads, bridges, locks and dams. Construction and demolition (C&D) waste are unlike everyday waste. You can’t just throw it in the trash, and your local dump truck can take it away. If you have significant debris, especially demolition or construction waste, you will need to organize your disposal differently. Credit: KnockItDown.com Some of the waste generated during the construction process can be eliminated. For example, a durable modular metal system for concrete construction may be picked to be effortlessly disassembled and reused in future projects, thereby avoiding wood waste in plywood and trimmed wood formwork. Disposal of waste can help reduce impacts on human health and the environment. Some of the most common types of construction and demolition debris include: Concrete Bricks Drywall Plaster Metal Roofing materials Glass Wood Wiring Plumbing fixtures Insulation (non-asbestos) Rock Soil How to Dispose of Your junk? Disposal methods based on your type of construction waste: Almost all types of construction debris can be recycled, including tiles, lumber, concrete, metals, plastics, rock, drywall, etc. If you wish to dispose of the debris yourself, you should check with your local facility to see if they can accept it. Also, keep in mind that the transport itself can be a challenge, especially if you have a lot of debris to carry. Construction materials classified as hazardous waste must be handled and disposed of following state or federal regulations. When constructing a building, take the time to evaluate the materials you need as accurately as possible and keep the project organized. R&D waste generated during construction may include hazardous, non-hazardous, biodegradable or non-biodegradable debris or waste. Construction and demolition waste collected in trash chutes and containers are transported to diversion facilities via truck. Waste is classification as non-hazardous and hazardous waste. The safe and best disposal methods of construction waste are: Donate: Some construction debris or useless materials can help some local or needy people. Sometimes decorative items or old devices find a new home through donations. Reduce: Choose What You Buy Carefully. Careful planning ensures that you don’t buy unnecessary and unsuitable materials that end up in landfills. For example, you can avoid unnecessary waste from pieces like pipes and wood simply by purchasing a more suitable size and length in advance. Reuse: Think about what leftover materials you could convert for other projects, such as bricks, windows, tiles, etc. It is also possible to transfer materials or exchange them for another construction site and participate in a recall program. Some of these schemes allow you to return the packaging to its original manufacturer. Recycle: Most of your waste is likely to be recycled, including wood, metal, plastic, paper, glass, concrete, drywall, asphalt, and more. Therefore, you need to separate recyclable waste so that collectors can dispose of and process it properly. Often, your materials manufacturer and your disposal company will advise what can and cannot be recycled and how to separate and store it. Rent a Dumpster: Dumpsters are available in various sizes, from 3 cubic meter bins to 40 cubic meter construction dumpsters and can be rented easily. It is the ideal solution for building, demolishing, cleaning houses, roofs, removing yard waste and recycling in bulk. Disposing of hazardous construction waste: Hazardous waste must be treated and disposed of according to the state or country regulations. Few commonly used disposal methods for dangerous construction waste are explained below: Disposal of Mercury-Containing C&D Waste: The items that contain mercury must be isolated and taken to a mercury recycler or consolidation site. It is recommended to label and store mercury contained devices to ensure proper disposal. Disposal of Lead-Based C&D Waste: Remove all lead-containing building materials and store them in containers. Get in touch with your local waste authority for instructions on how to dispose of lead paint residue. Disposal of Asbestos Construction Waste: Asbestos waste must be packaged appropriately in airtight containers. It is packaged and disposed of at an approved disposal site. Demolition waste must not be shredded, shredded, ground, ground, mulched or otherwise treated to improve recovery before disposal. By properly disposing of construction and demolition debris, you can save money and reduce waste. – Erich Lawson
COVID-19 Resources
Wondering how to buy and sell real estate while being quarantined in your home or apartment? The real estate industry is very adaptable and has rapidly adjusted to current circumstances. Virtual tours and walkthrough videos have become a necessity in a time with limited ability to get out of the house. DocuSign and other e-signature platforms have become imperative to keep in touch with clients and move transactions forward. Our agents are still available remotely and have the resources necessary to get your home sold or help find your dream home! For other businesses affected by the slowdown due to the coronavirus outbreak, there are programs and options available to help mitigate losses. You can find information about forgivable loans and the paycheck protection program at the respective links. For current homeowners who are impacted – many lenders are offering a variety of options to help with mortgage payments. If you are in need, contact your lender and see what options are available to you. You can visit the CDC website for general information about the virus and be more informed about warning signs and symptoms. The more accurate information we have about this virus the better we can react and take steps toward improvement. Franklin Investment Realty is here to support the community and serve while ensuring the health and safety of our clients and other real estate professionals. Stay safe and healthy – hopefully this outbreak subsides soon! – Matt Scannapieco