News From Jacky Fils
Tips for Hiring a Property Agent
When purchasing rental property as an investment it is important to consider hiring a rental property agent. Many people hesitate to hire a property agent because of the cost associated with it; however, a good rental property agent can help you to reduce a lot of the day to day work you must handle regarding your property. The key to making this type of arrangement work for you; however, is in knowing how to find a good agent and what to look for.
One of the main tasks which an agent handles is finding tenants for your property. They also provide the rental agreement. In most cases, rental agents do not provide a service which would keep your property in good condition. In most cases, agents only respond in the event there is a complaint from the tenant. If an agent is less than responsible; you may find yourself owed rent and your property in shambles. Therefore, if you decide to use an agent you need to make sure that your agent covers several critical areas.
First, they should always provide you with an assessment of the reliability of the tenant. Not only should the agent check the references of prospective tenants but they should also utilize other methods so they can be assured the tenant will care for your property and pay their rent on time. Before hiring an agent question them regarding the methods they use for this purpose.
You should also make sure that the agent will be able to handle the collection of rent effectively. Speak with them regarding the methods they use for collecting back rent when a tenant fails to pay their rent on time. In addition, find out how the agent addresses the issue of bounced checks.
In addition, you should speak with prospective agents regarding how often they will inspect the property and what they will look for when they perform those inspections. Furthermore, find out how they will record information and provide feedback to the tenant as well as to you. This information can be vital to ensuring a well operated rental property.
You should also find out how payments will be passed on to you and how frequently you will receive rental payments. Not all agents have the same policy. Some agents will actually retain payments for a month so they can earn the interest on the money before they pass the payments onto the landlord.
Of course, you should also find out how much the agent charges for the services they provide. Shop around to find out whether this fee is on-target for the service which the agent provides. If the agent is providing a good, reliable service it can be a benefit to your and your investment property and as a result it can be a good investment.
Be sure you ask to review any forms the agent uses, especially the rental agreement. You should always know the terms under which your rental property will be rented.
Keep in mind that on-site managers usually charge more; however, that cost can often be offset by the fact that you may be able to decrease maintenance costs by ensuring you have a well-run property.
Remember that having a good property management agent can essentially bring you more of a profit. Perhaps one of the biggest costs you will face when operating a rental property is the cost associated with changing tenants. When you figure in vacancy rates, the cost is even higher. Therefore, it is obviously in your best financial interest to keep good tenants. A competent property management agent can help to make this a reality.
Choosing your agent carefully and ensuring that you understand exactly what the agent provides and what they do not provide in terms of services can help to ensure that your investment is successful and not a headache.
Until next time !
5 Reasons Why Real Estate Is a Great Investment
Real estate is a great investment for many reasons. You can enjoy an excellent rate of returns, amazing tax advantages and leverage real estate to build your wealth. Here are the top five reasons why real estate is a great investment.
Real estate provides better returns than the stock market without as much volatility.
Historically in real estate, your risk of loss is minimized by the length of time you hold on to your property. When the market improves, so does the value of your home, and as a result, you build equity. The risk never changes in the stock market and there are numerous factors beyond your control that can negatively impact your investment. Real estate gives you more control of your investment because your property is a tangible asset that you can leverage to capitalize on numerous revenue streams, while enjoying capital appreciation.
About Jacky Fils:
Who am I? I am a Real Estate Investor & Entrepreneur who happens to be a physician. I have chosen this path after understanding very well the in’s & out’s of above average return on investment (ROI), backed by a solid asset, Real Estate. I have been actively investing in real estate in the western Massachusetts area for a number of years. My mission is to provide quality housing for quality tenants, while at the same time providing an above average return on investment (R.O.I) for our investor partners. It is truly a win-win-win way of investing!
Jacky offers his investor partners hands-free investment opportunities. If you are interested to learn how to earn an above-average return on your investment, backed by a solid asset, and without a hassle of being a landlord, please contact Jacky.
For more information about Jacky and his investment program,
please call 857-800-1237 or visit https://jackyfils.com/