by Suzanne Rodoni-Silverberg | Feb 22, 2013 | Property Management
With today’s rising rents, lower interest rates and property values, buying an investment property may be a good addition to your financial portfolio. Before you make the decision to purchase you should consider the following:
Check with your CPA or financial planner: Current tax laws favor investors. Depreciation and principal reduction can build wealth over time. Holding a rental property until its owned free and clear can be a good source of retirement income
Compare recent sales and rents: Look at what has sold recently and what income it generates. Are certain areas generating better rents? What down payment do you need to generate the return you are looking for? (more…)
by Suzanne Rodoni-Silverberg | Feb 22, 2013 | Property Management
Many people think tenant screening means only obtaining a current credit report. Credit information is important and in today’s rental market, they contain more details than ever before. There are continual changes to the Fair Credit Reporting Act, FCRA, because landlords, employers, and businesses consider credit ratings a valuable resource.
Then why is a credit report not enough? Running a credit history and relying on just one area for approving an applicant is simply not thorough enough. A credit report just does not give you all the information you need to make a decision about a prospective tenant. To make the most informed and educated decision about the person you are considering you need several sources to give you a “complete picture”. (more…)
