March 11, 2012
Housing reports continue to show improvement at the same time that low mortgage rates continue to remain intact. The current housing market conditions are favorable for consumers who wish to purchase and finance a home under very affordable circumstances. According to The U.S. Census Bureau and the Department of Housing and Urban Development, new home sales increased more than expectations even after decreasing in December. The National Association of Realtors reported that pending home sales of existing homes increased 2% in January which was above the forecast of 1%. Mortgage rates have remained steady which is helping the housing market to slowly recover as shown by the latest reports. The most popular mortgage for a home purchase is the 30 year fixed mortgage with rates which remain at 3.500%. The 15 year fixed mortgage with rates at 2.875% has been most popular with refinances. Some consumers, especially short term home buyers, are opting for the 5/1 adjustable rate mortgage which is at 2.250%. With good credit, these lowest mortgage rates are available with 0.7 to 1% origination. Lenders also examine employment, income and assets for a pattern of consistent behavior by borrowers. Mortgage refinances to a lower mortgage rate are now available with Harp 2.0 which offers easier guidelines and does not require an appraisal under most circumstances. This mortgage program is specifically designed for underwater borrowers. read more
March 2, 2012
When it comes to itemizing the depreciation of your rental property on your yearly tax return, there are a couple of options to consider. While the simpler (and standard) practice calls for landlords to simply divide the total value of a rental property by 27.5 years, taking roughly 1/27 of the property's value as a deduction each year, "segmented depreciation"---which splits the property into multiple assets that depreciate a varying rates---can ultimately save you money.
Modified Accelerated Cost Recovery System (MACRS) Explained
While the standard method of depreciation, also called "straight-line" depreciation, is certainly easier to understand, it has the disadvantage of not reflecting the reality when it comes to depreciating assets that last for a shorter period of time, such as carpets, refrigerators, and fencing.
In order to more accurately reflect this reality, the Internal Revenue Service developed the Modified Accelerated Cost Recovery System (MACRS) to account for the depreciation investment properties. Using this method, landlords can divide their rental properties in to several asset classes and depreciate them at varying rates. Under this system, assets such as appliances, carpeting, and furniture depreciating fully over a period of five years, allowing for much larger tax savings each year. At the end of the five-year period, you can replace these assets and start the short-term depreciation process all over again.
February 28, 2012
Follow this link to hear what investors, home owners and those who didn't realize they needed a property manager have to say about REAL PROPERTY MANAGEMENT. read more
February 28, 2012
The Federal Housing Administration will raise mortgage insurance premiums this April in order to repair the health of its emergency fund.
The FHA upfront mortgage insurance premium will increase to 1.75% from 1% of the base home loan amount. This will apply regardless of the term or loan-to-value ratio beginning in April.
The annual mortgage insurance premium will increase by 10 basis points for loans under the $625,500 limit beginning April 1 and by 35 bps for home loans above that amount starting in June, the FHA said Monday. Authority for these raises come under the payroll tax cut extension agreed to last fall.
The FHA said the changes will boost the Mutual Mortgage Insurance Fund by $1 billion.
The UFMIP can still be financed into the mortgage. The increase to the upfront premium will cost new borrowers roughly $5 more per month. read more
February 26, 2012
When it comes to reaping maximum gains from your investment property, choosing the right property in the right area---and pricing the rent correctly---are only half the battle. Once you've purchased a rental property with excellent profit potential, you can help ensure you actually realize that profit by taking certain steps used by veteran landlords.
Give tenants what they want. Prospective renters on the hunt for the right apartment look for a number of things in a rental home, including location, neighborhood character, crime rate and attractions nearby. Once they've identified the general area where they'd like to live, amenities are often a key criteria when it comes to evaluating individual properties.
Choose and retain the right Tenants. Once you've renovated your rental, you can expect to have a larger-than-average pool of interested applicants to choose from when it comes to selecting a tenant. Taking care to properly interview and screen each potential renter is the next step in maximizing your property's ROI.
When you add up the cost of rent lost during a vacancy, plus cleaning fees, advertising expenses, and the time it takes to show a rental and select a tenant, you quickly realize that minimizing turnover is key to maintaining your profits. Finding a tenant who you can envision renting to long-term is the best case scenario.
Beyond meeting your basic income and credit score criteria, look for a tenant history of stability, whether in the form of multiple years at the same job or long-term stays at former residences.
Be sure to keep up with maintenance. Keeping your property in good shape not only inspires renters to want to stay put, it ultimately saves you money in the form of preventing major maintenance disasters. Many landlords choose to use property management companies to handle routine upkeep, which can range from ..... read more
February 24, 2012
At Real Property Management, we proudly stand behind our reputation as the nation's local property manager. Our unique capabilities enable us to manage your local properties with the same expertise and reliability that we employ on a national level. This mix of local market knowledge and nationwide reach are what set us apart in the property management industry.
Your local Real Property Management teams consists of highly-trained experts in every aspect of property management, including marketing, leasing, maintenance, collections, evictions, accounting, inspections, and legal compliance.
In addition to our local offices we have more than 200 offices nationwide.Contact us today to get a free quote and learn more about what Real Property Management can mean for your residential investments. read more
February 20, 2012
Moving to a new home can be stressful, to say the least. Make it easy on yourself by planning far in advance and making sure you've covered all the bases.
1. Plan ahead by organizing and budgeting. Develop a master "to do" list so you won't forget something critical on moving day, and create an estimate of moving costs. (A moving calculator is available at REALTOR.com)
2. Sort and get rid of things you no longer want or need. Have a garage sale, donate to a charity, or recycle.
3. But don't throw out everything. If your inclination is to just toss it, you're probably right. However, it's possible to go overboard in the heat of the moment. Ask yourself how frequently you use an item and how you'd feel if you no longer had it. That will eliminate regrets after the move.
4. Pack similar items together. Put toys with toys, kitchen utensils with kitchen utensils. It will make your life easier when it's time to unpack.
5. Decide what, if anything, you plan to move on your own. Precious items such as family photos, valuable breakables, or must-haves during the move should probably stay with you. Don't forget to keep a "necessities" bag with tissues, snacks, and other items you'll need that day. 6. Remember, most movers won't take plants. If you don't want to leave them behind, you should plan on moving them yourself.
7. Use the right box for the item. Loose items are prone to breakage. 8. Put heavy items in small boxes so they're easier to lift. Keep the weight of each box under 50 pounds, if possible.
9. Don't over-pack boxes. It increases the ..... read more
February 20, 2012
Salt Lake City Real Property Management has cleaned house, winning several major national awards and earning high marks on a number of key industry lists.
"We are honored to be recognized for our experience, growth and innovation"
Real Property Management provides full-service residential property management for investors and homeowners across North America. The company's custom technology platform provides efficient, centralized management of thousands of homes and multi-family dwellings through highly trained local teams. Awards and recognitions were given for company growth, innovation, technology and services provided in the rental management industry.
Entrepreneur Magazine's Franchise 500®. Rank: 159th
Entrepreneur Magazine's Fastest-Growing. Rank: 57th
Entrepreneur Magazine's Low-Cost. Rank: 24th
Entrepreneur Magazine's America's Top Global. Rank: 128th
Inc. Magazine's 500 Fastest Growing Companies
National Minority Franchising Initiative's Top 50 Franchises for Minorities
Personal Real Estate Investor Magazine's Opinion Makers and Market Leaders
"We are honored to be recognized for our experience, growth and innovation," said Kirk McGary, founder and CEO of Real Property Management. "With several recent studies showing a decrease in home ownership, we've seen steady growth in demand for a more professional, reliable property management system reflecting that change in the housing market."
A recent study by industry expert Michael Levy confirms this, stating that a major trend in property management for the foreseeable future is the increased need for the management of foreclosed properties that are being rented. Real Property ..... read more
February 20, 2012
Welcome to Real Property Management Jacksonville Florida! See the video on Property Management.
Real Property Management is the nation's local property manager. We specialize in residential property management in the United States and Canada.
Whether you are a property owner, prospective tenant, or investor. Real Property Management has the expertise to handle your property management needs. With more than 20 years experience and more than 200 locations serving tens of thousands of properties, we have proven, time and time again, that we can help property owners manage their properties.
For Property Owners
Real Property Management provides full-service property management for single family homes, plexes, and small apartments under 50 units, and some of our offices have managed larger apartments. We understand how difficult it can be for residential property owners to manage their properties, while finding balance in their personal lives. That's why we offer a full suite of services to relieve property owner stress, such as tenant placement, credit screening, maintenance, property inspections, collections, evictions, and monthly financial reporting. When you choose Real Property Management to handle your properties, a dedicated property manager will be assigned to your property.
For Prospective Tenants
We've been helping individuals, families and businesses find residence for more than 20 years. With more than tens of thousands of rental properties through the U.S. and Canada, we have many single-family homes in upscale neighborhoods, economical 3 to 4 bedroom family homes, small apartment and multi-unit buildings available for rent. Every year thousands of tenants depend on Real Property Management ..... read more