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Tips for renting with pets

10/14/2021

 
Woman sitting in front of a computer with a dog in her lap.
The life of a tenant comes with many caveats. Besides needing to find a place you like, you’ll also have to deal with the landlord or property management company. If you have a pet, finding a suitable rental property can be a bit more challenging. It goes without saying that not every landlord is going to be thrilled with the prospect that you’ll be bringing a pet with you. Thankfully, we will give you tips for renting with pets, which will make the whole process a lot easier.

Consult with the landlord
Obviously, the first thing you will need to do is consult with the landlord. Be direct and find out if the apartment you are interested in is pet-friendly. Some places with a “no pets allowed” policy may be open for discussion, and you shouldn’t be afraid to ask. The worst thing that can happen is that you get declined, which will just bring you back to square one.

It is of utmost importance that you do not lie to the landlord or try to hide your pet. When they perform a property inspection, they are bound to find pet hair, chew toys, and pet food. Hiding your pet can just land you in trouble and get you kicked out of the apartment. Don’t even think you will be able to fool a seasoned landlord. They are always on the lookout for tenant scams, so you should steer away from any illegal or suspicious activity.

Choose a home with your pet in mind
A small, one-bedroom apartment isn’t the greatest environment for a dog. Try to find something more suitable for your pet, and have their needs in mind when browsing property listings. Depending on the type and size of your pet, you may want to rent something with a spare room, a balcony, or a yard.

​Also, consider what the neighborhood is like. Look for an area with a nearby park or perhaps good trails where you can go for walks together. Before moving, check to see if there is a local vet in the area and contact them to see if they can care for your pet.

Dog sitting on a wooden stool.
Ask your old landlord to confirm that your pet is well behaved.
Get references from your previous landlordIf you have already rented a place with the same pet you have now, you can ask your old landlord for a reference. This is especially helpful if your pet is well behaved and left a good impression on them. The landlord-tenant relationship is something you need to nurture, and it can be mutually beneficial. When moving out of a rental property, make sure to repair any damage your pet may have caused even before the property manager asks you to do it. If your previous landlord can mention that both you and your pet behave responsibly, that can go a long way towards convincing the new property owner to give your pet a pass.

Gather documentation and introduce your pet
Besides all the regular paperwork you will need when renting a home, you should also create a dedicated pet-paperwork folder. Have all the vaccination and neutering information from your vet readily available. You can also include your vet's phone number, since they can also serve as a reference for your pet. Compose a short bio for your pet, where you can mention their breed, hygiene, and overall habits. Always include your pet's resume with your own when inquiring about an apartment. After all, you are going to be roommates together. If you are going to have an in-person meeting with the new landlord, make sure to bring your pet. This can be an excellent opportunity to show off that they are well behaved.

Cat sitting on cardboard boxes.
Tell your landlord that you will cover for repairs from scratch or bite marks of your pet.
Be willing to negotiate
When discussing the lease agreement, you can offer an addendum to the lease. It can state that you are ready to cover any potential expenses which can come from the damage your pet may cause. When renting with pets, it's not uncommon for landlords to require you to pay an additional security deposit. Obviously, the best way to get it back is for you and your pet to be on your best behavior. Always clean up after your pet, and fix anything they damage to get your security deposit back.

Moving with pets
You will find that moving to a new home is a bit more complicated when pets are in the picture. We will go through some tips for renting with pets that will make your relocation a breeze. Pets can sometimes get even more stressed out about a move than humans, and what's worse is that they don't have good ways to express themselves. Here is what you can do:
  • Talk to your vet. They can give your pet a checkup and go over the paperwork you have collected. You can even ask them for a mild sedative to help your pet handle the day of the move.
  • Update their information.
  • Drive them in your car. Spend time with them and bring them to your new home yourself.
  • Keep things similar to your old home. Pets may need help adjusting. Try to keep things the same wherever you can.
Dog driving in a car and looking out the window.
Do everything you can to help your pet adjust to the new environment.
If you don’t already have a pet
If you plan on getting a pet, don't just adopt one and assume that your landlord will be okay with you bringing them into the rental property. Talk to the landlord in advance and get their approval before bringing a pet into your home, and make sure you get it in writing. Adopting an animal without a formal okay will get you on the fast lane to getting evicted.

The bottom line
The main takeaway from our tips for renting with pets is that you should always be straightforward and direct. Inquiring about pets on the property should be one of the first talking points with the landlord. Of course, there are a few things you can do to set the odds in your favor. If you train your pet and make sure they are well behaved, renting with a pet shouldn't be a problem.

5 Cleaning Hacks to Help You Get Your Security Deposit Back

9/23/2021

 
 A woman cleaning a coffee table next to a blue couch and a green armchair.
​There is a lot to consider when it comes to moving out of your rental. Whether you have been there for a long time or just a short while, multiple things can determine if you get your security deposit back or not. Always make sure that you take your time to consider all possibilities and sort them out before you officially move out. The issues that your landlord might consider deal-breakers could be as small as a few leftover nails in the wall or as big as broken furniture. With some cleaning hacks, you will be able to relax and have no problem getting all your money back.

​Preparing to move out 

​If you have ever rented a car, you’ll remember that you needed to do an initial inspection of damages so that you do not get charged for them afterward. The same rule should apply to an apartment or house rental. If you have done this before signing a lease for your home, it will make your life a lot easier once you decide to move out.
 A hand with a yellow marker over a rental contract.
Make sure you go over your lease before starting the cleaning process.
When you begin the process of moving out of your rental apartment, you can go over the list of issues the place came with and rule out foul play on your end. Before you start fixing and cleaning, though, make sure you go over your lease. You can find useful information there regarding some crucial issues, such as:
  • How much notice do you need to give your landlord?
  • What is expected of you upon moving out?
  • What areas do you need to clean thoroughly?
  • Will you need to paint the walls before leaving?
  • What penalties might be imposed on you?

​1.   Make sure you clean the oven

A woman standing next to an oven with a baking tray.
Try some cleaning hacks for your well-used oven.
​Unless you do not come near your stove due to your less-than-enviable cooking skills, the kitchen is the area where you will have the most significant amount of work. You know very well how much damage oil splatters can cause and what a pain they are to clean. Almost everyone will agree that they hate cleaning the oven with a passion. Who can blame them—it is extremely difficult to do, it demands some serious contortionism, and even after you clean it, it still looks dirty.

​Procrastinating with this task, though, can create quite a messy situation, and you want to take care of it before you move out. An easy cleaning hack is to make a baking soda paste by mixing it with water and then spread it all over the oven. Leave this overnight and simply wipe it clean in the morning.

2.   Don’t overlook the fridge

This is the home of lots of spills, stains, and bacteria. If you empty it and unplug it without cleaning, it will be a nasty sight—and smell. A bowl of baking soda overnight will take care of the smells for you. One of the best cleaning hacks is to use a vinegar solution and spray it all over the refrigerator. All the stains and grease will come off surprisingly easily.

3.   The walls will need a lot of love

​Your walls can go through substantial damage even if you do not hang any pictures on them. Simple, everyday activities can leave stains and marks on the walls that you will most certainly need to take care of before moving out. To clean stains, use white toothpaste with a paper towel or a rag. If you have removed nails from the walls, fill in the holes with toothpaste as well, or use the traditional nail hole fillers and even out by scraping the excess with a wet knife.

4.   Try out these cleaning hacks for the floors

Any lighter shade of carpet will be susceptible to stains. To clean these, use a mix of hydrogen peroxide and some lemon juice. Spray the solution on the stained area and leave for a few minutes. After that, scrub it with a brush. For dark carpets, use a solution of white vinegar and a few drops of dish soap and water. If your hardwood floor has scuffs, use a tennis ball or an eraser and apply a bit of pressure while rubbing the surface. This magic trick will save your security deposit.

5.   Give the bathroom a good scrub

A filled bathtub with lemons floating in the water.
Give your bathtub a good lemon and salt scrub to remove stains.
​You may have noticed some stubborn stains in your bathtub. They usually form from shower and hair products build-up, but also limestone. Most cleaning products will not get rid of them, so why not try a mix of lemon juice and salt? Scrub on the area until it magically disappears.

​Moving cross country?

​If you are currently renting in the state of Nevada and are planning an interstate move, consider hiring a moving company. After you have finished your thorough cleaning and you got your full safety deposit, these professionals will save you a great deal of trouble and help you transfer from the state to wherever you are moving. Especially if you are relocating for the first time, you will be more than grateful for the assistance of experts. You might get overwhelmed by the amount of planning and organizing that needs to take place. With professional movers, you will rest assured that everything will be arranged for you perfectly.

Additional useful tips and cleaning hacks to keep in mind

​It is very easy to overlook details when moving out of your rental. Your landlord might be a lovely, honest person, but they also might be digging for ways to deduct money from your safety deposit.
  1. For example, your landlord is not obligated to give you your deposit back unless you ask for it. Do not take for granted that you will simply receive it in your mail by default. You need to make sure to communicate this to your landlord before you change your address, especially if you are moving out of state or internationally.
  2. In addition to that, read the lease carefully for hidden rules. You might have to pay a certain percentage for the regular wear and tear even if you have cleaned all the areas spotlessly.
  3. Finally, if you are thinking of cleaning every corner of the apartment or house thoroughly, you should keep in mind that certain areas are generally in the spotlight. So before breaking your back, use the cleaning hacks in the main areas like the bathroom, the walls, the kitchen, and the floors, and pay a bit less attention to the rest of the home.
 
Meta description: Learn some great cleaning hacks to help you get your security deposit back offered by the experts at Clark Real Estate.
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​Why Californians love Reno, Nevada?

9/1/2021

 
Reno Arch
Nevada's expanding popularity is due to various causes, including cheap taxes, high-paying jobs, natural beauty, and year-round recreation, to mention a few. This thriving region of the American West, notably Reno, Nevada, is attracting new house buyers and businesses. Here are a few reasons why Californians love Reno and think it is a terrific place to live.

No income tax makes Californians love Reno

 In comparison to other states, Nevada has a low overall tax load on its inhabitants. Nevada has the eighth-lowest crime rate in the United States, thanks to all of the tax income generated by the state's thriving tourism economy, particularly the casinos. Retirement funds and pension income, whether private or governmental, are tax-free. Also, in Nevada, there is no estate or inheritance tax

​As a result, if you live in Reno, you will likely pay less in taxes, leaving more money in your pocket for other things such as student loans, recreation, dining, shopping, and so on. If you're considering buying a house, 
buying a fixer-upper home in Reno may be a suitable option for you. That is if you are handy and have many renovation ideas.

Outdoor adventures, nightlife, and an impressive cultural scene 

Reno provides terrific outdoor experiences, vibrant nightlife, and a diverse cultural scene.
Reno offers world-class entertainment and leisure opportunities, all while surrounded by the gorgeous Sierra Nevada Mountains to the west.
 
The culinary scene in Reno, Nevada, is titillating and unusual, as one might expect from the city's hotel and casino lifestyle. Every week, new restaurants and cafes open, providing foodies with a never-ending gastronomic adventure. Casino buffets and bars aren't the only things to do in Reno. The beer and distillery scene is expanding, with many stops along 4th Street in the Brewery District. Many Californians are thrilled by all these fantastic features Nevada offers. SO, if this made you want to move to Reno, too, rest assured that this easy process is possible. With a reliable moving company by your side, a knowledgeable real estate agent, and some preparations, you will become a Nevada resident in no time.

Year-Round Activities

Reno provides year-round entertainment for people of all ages, with various family-friendly activities, events, museums, parks, and other attractions. Artown, the Reno River Festival, the Best in the West Nugget Rib Cook-Off, the Great Balloon Race, the Reno Rodeo, Burning Man, the Barracuda Championship, the Lake Tahoe Shakespeare Festival, and many other events take place in Reno. If you prefer arts and entertainment, the Pioneer Center, Nevada Museum of Art, Greater Nevada Field, or Discovery Museum will definitely satisfy your needs. From Shakespeare on a sandy beach at Lake Tahoe to 500-mph plane races and hot air balloons hovering above the Reno cityscape, there's something for everyone.

Tech-hub

The Tesla Gigafactory, designed by Elon Musk, is only a short distance from Reno. This, together with the presence of numerous start-up companies, creates work prospects, attracting many tech professionals to the area. Noble Studios, Mabble Media, KPS3, Clear Capital, and other tech companies are all hiring in Reno.
A vehicle with a Tesla sign
The Tesla Gigafactory offers a huge work prospect
Reno is home to more than just computer companies; it also has other enterprises distinct from the conventional clusters of casinos, resorts/hotels, and eateries

Warm climate

If you live in Reno, you'll almost certainly see all four seasons. The climate of Nevada is arid and warm, with plenty of sunshine all year. Summers in Reno are generally hot and dry. However, winters can be bitterly cold. Snow may fall if you live higher up in the mountains, but it is less likely if you live further north. If you like a desert climate but want to experience all four seasons, Reno, Nevada is the place for you. The mild weather in Reno is especially appealing to people considering retirement.

The UNR

According to the US News & World Report, the University of Nevada, Reno, is a national Tier 1 university. It is the state's flagship university, with a lovely campus featuring brick buildings and old trees that provide a gorgeous backdrop for academic endeavors. UNR is a doctorate institution focusing on science, engineering, and medicine, particularly earthquake science and biotechnology.
Graduates at the graduation ceremony
The UNR is among the prestigious universities in the world and one of the reasons why Californians love Reno, Nevada
A "pipeline" relationship, in which recent UNR graduates frequently acquire jobs in Reno and stay in the area, benefits both students and future employers. It's a win-win situation. Moreover, if you're raising a family, you'll be thrilled to hear that there are excellent schools in Reno as well as good sports programs.
The Animal Ark 
​
Zoos bear an element of animal cruelty. The Animal Ark in north Reno, on the other hand, is unique because it is a safe haven for orphaned, injured, and non-releasable animals. Basically, if these animals were free, they wouldn't survive. Therefore you get to see beautiful animals without feeling guilty. Wherever possible, Animal Ark is committed to utilizing ecologically sustainable energy strategies. Passive solar panels and wind production provide the majority of Animal Ark's energy needs. There are also water recycling rules in place, and the entire 107-acre complex is under fire management. Animal Ark's purpose is to promote environmental care through wildlife education.

Ski Resorts at Lake Tahoe

Reno is home to the country's largest concentration of world-class ski resorts strategically positioned to over twenty locations in the Tahoe region, including Mt. Rose, which is only a 30-minute drive from Reno. Whether you're a first-time skier or a seasoned pro, Reno has it all when it comes to getting on the slopes.
Lake Tahoe from a distance, one of the reasons why Californians love Reno, Nevada
Lake Tahoe is one of the world's best ski resorts
Reno Tahoe features 18 ski resorts within a short drive of the Biggest Little City's entertainment and nightlife. There are more ski resorts in this area than anywhere else in North America!

Looking for a place to call home?

Now that you understand why Californians love Reno, Nevada, you may decide to move here or buy a house and hire a property manager to handle it. Rest assured that you won't regret that decision. Reno maintains its status as the world's largest little city by providing modern amenities. When you make this city or its surrounding metro region your home, you will undoubtedly find an opportunity to create a wonderful life for yourself. Take advantage of luxury houses with large outdoor living areas and many rooms ideal for fun with friends and family.
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7 signs it's time to sell your rental property

8/11/2021

 
7 signs it's time to sell your rental property
​If you happen to be a rental owner, there's a high chance you've put blood, sweat, and tears into managing the said property. While the investment might have been a smart one initially, perhaps it doesn't ring true today. There are many instances in which you are better off moving on from the property than keeping it in your possession any longer. Unfortunately, knowing just when to say goodbye isn't simple to determine. With that said, you are encouraged to take note of these 7 signs that suggest the time to sell your rental property has come.

1. The value of your rental property has increased
If the value of the property has drastically increased since the time you bought it, that may be a signal it's time to convert it into cash. This approach is especially favored by professional flippers, who purchase properties only to sell them for profit a short time later. While typical flippers don't usually turn to renting, a few of those do stick around long enough to venture into the process - which goes something like this:
  • Make a purchase
  • Find tenants to whom they'll rent out the property
  • Make updates with the intention to sell
  • Part ways with the property once the prices have gone up and the local market starts favoring sellers
You may not consider yourself a flipper, but in this case, it may be wise to take a page out of their book.

2. The property is no longer generating profit
It doesn't take a genius to figure out that a property that doesn't bring revenue isn't one worth keeping. Of course, if you've only recently acquired your asset, perhaps you should stick around for a bit longer. After all, it does take some time for profit to show. However, if you've already been a landlord for a while and you've been in the red for months, it might be wise to sell your rental property. It's better to let go of it now than allow it to drain your savings any further.

If you truly are keen on sticking to real estate investing, though, put your money elsewhere. For example, into another Reno property that's bound to prove more profitable.

3. You are miles away from your rental property
When you live close to your rental, managing it doesn't seem all that complicated. Whenever the property requires your attention, you are just a short drive away.

However, as life is relatively unpredictable, sometimes, we must move away. This challenging time requires us to think about many things: our next living arrangement, the moving process, and last but not least, the property we currently own. As far as hiring movers goes, it's worth noting that reliability is the most important factor to consider. Always opt for a company that has considerable experience moving people across long distances, throughout the entire state of Nevada.

While the relocation process can be reasonably smooth, maintaining your property when you live miles away becomes all that harder. You can no longer be there to tend to issues and must rely on the help of others to make do. Selling is possibly the best choice, but if you wish to keep your asset, by all means, do it. Should that be your final decision, remember to seek out a professional Reno property manager.

4. You no longer wish to be a landlord
The thought of being a landlord doesn't excite you anymore? If you find this to be true, that's a tell-tell sign that you should sell your rental property, or actually, consider selling it.

Perhaps you are just tired of the amount of work that needs to be done around the property. Maybe managing it has occupied so much of your free time, which isn't what you initially signed up for. Or, you've stumbled upon trouble with your tenants. Whatever the case, if real estate investing no longer does it for you, it might be time to leave the game altogether.

5. Your rental property has begun deteriorating
The state of your current asset is such that it requires extensive repairs to become yet again profitable. Investing in a new roof in Reno, for instance, can cost you anywhere between 6,000 and 10,000 dollars. That's about a year's worth of rent down the drain! Instead of spending a fortune on fixing it all up, it's better to sell the rental ''as-is''. This is especially true if you are dealing with a somewhat older property. The potential for something going wrong grows with age, so parting ways sooner rather than later is recommended.

6. You set eyes on another property
New opportunities to invest in something, including properties, arise constantly. Maybe you've recently stumbled upon an asset that you believe could be worth your while. The only problem being that the lack of money is preventing you from acquiring it straight away. However, if you sell your rental property now, you'll have just the amount you need to fund the new investment. But pause for a minute: are you aware of what you're getting yourself into? Is the potential of obtaining higher profits with the new property truly that great? Is it that great that it makes saying goodbye to a rental that's already been bringing you constant cash flow reasonable? Ask yourself these questions before reaching the final verdict.

7. Circumstances surrounding your life have changed
​
At the time you purchased your investment property, you couldn't have possibly known something in your life would change. While you would want nothing else but to keep your property, certain events could make you question that decision, including:
  • Wanting to purchase your dream home
  • Having to pay your child's college tuition
  • Losing your job
  • Retiring
  • Death of a family member
Whatever your situation, don't rush into making a decision. While the smartest choice may very well be to sell your rental property, double-check it by picking the brain of others. A financial advisor could prove the right person to ask for insight, as they are someone with the knowledge but no emotional attachment to the property. Additionally, if you decide to keep your rental property but have no time to manage it, contacting a property management company in Reno might be the best choice!

Benefits of using Clark Real Estate

3/16/2020

 
Clark Real Estate Property Management
​A lot of challenges come with owning and renting properties. From remembering to bill your renters to staying on top of maintenance needs for every property, there is no shortage of things to do. 
 
If you own many properties that you rent out or even just one property, there are a lot of headaches and challenges you can face along the way. One thing you must do as a landlord is make sure the property stays in shape. Amanda Hinson, who rents out a property of her own, says that she must “call on tree trimmers, painters, construction workers, the plumber, and electrician for help with maintenance.  If there's something I can manage myself, I will do the work such as cleaning gutters.”
 
However, when you don’t live near your rented property, it is not easy to find the best options to keep up the maintenance, let alone to do the work yourself. You also can’t check if your renters are following the rules, such as not having more people than agreed upon, or taking on another pet. So how can you live with peace of mind while managing your property? By using a property management service!
 
Reno Property Management Service with Clark Real Estate is a great solution for owners in the Reno/Sparks area. A family business run by Charles and Rick Clark, they will help you rent out your Reno or Sparks property without the usual stress and challenges.
 
When asked why someone should use a property management service, Amanda Hinson said that it was “convenient, low stress, it provides me peace of mind and freedom to manage my personal house more. I can give time to what's really important.”
 
Give time to what is important to you, such as your own home and family, while the professionals help you advertise, collect payments, do maintenance, find good renters, deal with emergencies, and more! 
 
And on the flip side, renters can find property more easily with the Clark Real Estate website. They can find what they are looking for among Clark Real Estate’s options, while you still get money as the property owner. 
 
As Real Estate’s brokers find the best tenants for your properties and find the best properties for tenants using their unique qualification process, start relaxing and doing what feels most important again.

Take Action on Interest Rates

6/13/2018

 
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Mortgage interest rates are on the rise. After enjoying a long break from higher rates, home buyers and homeowners are realizing the impact of even small changes in interest rates. True, rates are far from what could be considered high. (As a comparison, consider mortgage rates in 1982-83 being over 16%.)

Currently, every $1,000 of financing a 30 year mortgage costs only about $5 per month. Here's what that means: If your budget allows for a monthly mortgage payment of $1,000 (not counting escrows for property taxes or insurance, PMI or HOA dues) that equates to a $200,000 loan.  If interest rates continue to rise as experts predict, even a 1% increase in rates reduces that $1,000 monthly payment to about $178,000 in financing. That's a difference of about 11% less buying power!  That could mean the difference between the home of your dreams and one you will settle for.

History shows that housing market activity actually goes up when rates increase.  The reason? Buyers realize they may miss out on getting the house they want with the payment they can afford. That results in a higher number of buyers looking at the same time. This drives up prices as more homes are sold with multiple offers.

There are some steps borrowers can take to improve their situation in a rising interest rate market:
1. Get pre-approved by a lender with competitive rates and a reputation of being able to move a loan from purchase to closing in a timely manner.
2. Pull together all the information your lender will need before you get together with them. This will include:
  •   2 years of income tax returns with all schedules.
  •   W-2's from the last two years.
  •   3 months of bank statements.
  •   A recent pay stub from your employment.
  •   A recent statement from any retirement account or investment portfolio you may have.
  •   Award letters, if any income is from Social Security or pension benefits.
3. A list of all your monthly debt obligations such as auto loans, credit card payments, student loans, etc.
4. Be prepared to address any negative items that may be on your credit history.

Having these items in advance will speed up the approval process significantly and give you an advantage in being able to move quickly when the right house becomes available.
Finally, discuss "locking" the interest rate with your lender. In a rising rate market, it is critical to understand the lender's policy to lock in a rate to protect you from changes that could occur prior to the closing of your loan. Typically interest rates cannot be locked until you have a purchase agreement signed by all parties and you have confidence in the closing date as well as having resolved any contingencies such as house inspections.

While rates are rising, it's still an excellent time to invest in real estate. Taking advantage of today's rates will make you look like a genius in the future and you will have locked in a stable payment for a long time to come.

Reasonable Renovating for Every Homeowner

3/14/2018

 
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Whether they’re itching for something to do during colder months, motivated by the occasional Saturday when warmer weather prevails, or inspired by a marathon of a favorite DIY show, there always seems to be at least one improvement project on every homeowner’s to-do list.
 
DIY Doubts
If you count yourself among that cadre, it might be tempting to cut costs by tackling every task yourself. But, unless you are a veteran do-it-yourself homeowner who’s had a lot of experience with complex and costly renovations, there are probably some projects that should be left to the pros.
 
For instance, most renovations experts say sanding floors requires a special touch that takes lots of practice to develop. So, even if you are able to rent the necessary equipment at a reasonable price, inexperience may lead to ugly mistakes that can be costly to fix. And, while it might be possible for a handy homeowner to complete simple electrical projects, like installing a dimmer switch or replacing a light fixture, the risk of shock and fire outweighs any cost savings for more complicated wiring projects, according to experts quoted in Architectural Digest.
 
Likewise, they recommend that installing bulky or heavy items, like granite countertops, should be left to those who have the tools and techniques to do so without hurting themselves or the materials they are working with.
 
Easy Upgrades
Still, there are plenty of projects that even novice DIY homeowners can handle with a minimal investment of time and money. For instance, you could install new cabinet hardware and faucets in the kitchen and bath to give the rooms an almost instant cosmetic upgrade. A fresh coat of paint on walls, cabinets, or even a single wall offers much the same effect. And, while you’re at it, consider replacing dingy switch plates and outlet covers to create a clean look throughout your home.
 
Projects to improve energy efficiency also offer an excellent return on investment, with many resulting in savings right away. For instance, adding weatherstripping around doors and windows and installing a programmable thermostat can help you control heating and cooling costs. Replacing conventional light bulbs with environmentally-friendly LED bulbs can cut energy usage and save you time and trouble over the long haul, because they don’t need to be replaced as often. Plus, your local utility company might offer rebates and discounts to help you cover the costs of some of these items.
 
Staying Safe
Even easy do-it-yourself tasks can present some risks and challenges. After all, you may need to mount a ladder to repaint a room or replace a light bulb. And, while a power drill can come in handy for everyday projects like installing a towel rack or hanging pictures on a wall, it can also create homeowner hazards. Before you begin any project, experts recommend that you keep these safety tips in mind:
 
●Wear the right clothes. Avoid wearing jewelry, loose clothing, or shirts with loose or long sleeves that could get caught in equipment. Be sure to wear goggles when you might be exposed to airborne debris, and use earplugs when operating noisy equipment.

●Prep your workspace. For safety’s sake, you need to have a clear work area. Make sure you remove all clutter from the floor and any other spaces you’ll be working in, such as the front or back yard. If you’re doing a major project that spans multiple rooms for longer than a week, you’d be wise to move any belongings that will be in the way to an inexpensive storage unit until the work is complete.
 
●Practice precautions when using power tools. For instance, you should never leave a power tool unattended while it is on. In fact, before you leave your work area, unplug any tools and make sure they are out of children’s reach. Follow the owner’s manuals and any warnings when using, caring for, and storing power tools to ensure they’ll work safely for years to come.

●Keep an eye on your surroundings. Be conscious of sharp objects, power tools, and other equipment in your workspace. Remain aware of other adults who enter your area, and keep children and pets out of the vicinity while you work.
 
●Mind your ladder. Read and follow instruction labels before using the ladder, and make sure you’re using the right ladder for the job. For instance, it’s important to select a ladder that’s tall enough for you to comfortably access the project area and that can bear the weight of you and your equipment, according to its stated weight limits. Finally, be sure to place the bottom one foot from the surface it’s leaning against for every four feet in ladder height.
 
●Have easy access to a first-aid kit, and make sure it is well stocked. You won’t want to treat serious injuries yourself, but scrapes, scratches, bumps, and bruises are common even during successful renovation projects.  

●Mind your ladder. Read and follow instruction labels before using the ladder, and make sure you’re using the right ladder for the job. For instance, it’s important to select a ladder that’s tall enough for you to comfortably access the project area and that can bear the weight of you and your equipment, according to its stated weight limits. Finally, be sure to place the bottom one foot from the surface it’s leaning against for every four feet in ladder height.
 
Following these suggestions about tasks you should leave to professionals, manageable DIY projects, and safety precautions will hopefully help keep both you and your home in good working order for a long time to come.


Property Management in Reno

1/11/2018

 

How to Upgrade from Tenant to Homeowner

9/18/2017

 
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The dictionary defines the word “tenant” as one who has temporary rights to occupy a property. The key word here is “temporary”.  With today’s historically low interest rates, more tenants are looking for ways to become a homeowner. Dreams of homeownership can become a reality in just 6 simple steps! Even in markets where the inventory of homes is in short supply, a tenant can apply these steps and realize the benefits of home ownership.

  1. Check your credit score. The higher your score, the more options you will have to move to homeownership. Using resources such as CreditKarma or freecreditreport can tell your score at no cost or impact to your actual score. If your score is lower than 660 you may need to work on repairing past poor credit. However, a lower score is not always a “knock out” factor. It just means you may have fewer home financing options. Look for future articles on how to improve your credit score.
  2. Calculate your affordability.  Most loan programs require that housing costs and other long term debt (like car payments, student loans, credit card payments) not exceed 40% of your gross monthly income. For example, if your combined monthly income is $60,000 per year, it means your gross monthly income is $5,000. 40% of that is $2,000.
  3. Consider “must haves” vs. “nice to have.”  Most tenants have either never owned a home or have recently sold a home and are renting until life changing circumstances have settled. (Like job relocation, divorce, becoming empty nesters, etc.) Once you know your affordability, you can have a serious discussion about what is important to you in meeting your housing needs and wants. For example, a house with a pool might be on your “want” list, but it may not be a “must have” item. Other options to consider include, garage, fireplace, multiple bathrooms, number of bedrooms, size of lot, proximity to work/school/church, etc. Once you have determined your “must haves” you can start looking at what is available in the price range of your affordability that have most of those features. When you contact a real estate agent, it is important to have this discussion with him/her so they don’t waste your time showing you homes that don’t have your desired features. The lower your affordability and credit score, the more flexible you should be regarding those “must haves” as the number of homes you can buy will be less
  4. Count your cash. Most loan programs, including seller financing, require some down payment from the buyer. Some first time home buyer programs offer down payment assistance and allow a higher loan to sales price percentage. Down payments can also come in the form of a gift from a friend or relative as long as the gift has no strings attached. In other words, it doesn’t expect to be repaid. Other sources of down payment include money in a retirement plan (always check with your plan provider and get qualified tax advice before taking money from a 401K or IRA or similar type of account).  Government insured loans such as FHA or VA loans are available with small down payments from 0% -5% of the sales price. Oftentimes, sellers are willing to pay the buyer’s closing costs to help keep the cash needed to a minimum. This must be negotiated in the purchase agreement up front.
  5. Call a qualified real estate agent. Not all real estate agents are the same. Find out whether they have a track record of helping tenants become home owners. Ask questions: Are you full time in the business? Will you look for homes in my price range that have as many of the “must haves” as I want? Will you show me homes that are listed with other companies as well as your own? How many other prospective buyers are you helping now with the same or similar guidelines? (you want someone that is willing to give you some undivided attention). Who would you recommend as a lender that can help me become pre-qualified? Will you help me move my hide-a bed into my new home? (Just kidding)
  6. Contact a creative lender. The products offered can vary from lender to lender. Mortgage Brokers typically offer products that will be sold into the secondary market which may limit the options available. However, they are often more motivated to get your loan closed because their income is based on the loans they close. Community banks usually offer secondary market loans as well as “in house” products that can be tailored to meet the needs and qualifications of the buyer. In today’s competitive market, most home sellers like to see that a buyer has already met with and been pre-qualified for a loan that would be required to complete the sale. Be prepared to provide the lender your current employment status with a current paystub, tax returns from the last 2 years and statements showing any cash accounts you have including retirement accounts.
$5,000 monthly income
X 40%
$2,000
-$375 car payment
-   $50 credit card payment
- $100 student loan payment
$1,475 available for house payment (including property tax, homeowners insurance and association dues, if any)
-120 monthly cost of homeowner’s insurance
-155 monthly cost of property taxes
$1,200 available for a home loan
 
At today’s interest rates for a 30 year mortgage, a $1,200 monthly payment gives you a $250,000 mortgage. *

When to Rent and When to Buy a Home

9/16/2015

 
Which is right for you?

If you are new to the area, new to a job or career, or have less-than-adequate credit, renting may be the best avenue for you and your family. Even if none of the above applies to you, renting has its advantages.

Renting allows:

  • Short-term and flexible lease agreements in case you need to or want to relocate in the near term.
  • Fewer long-term responsibilities concerning maintenance and lawn care.
  • A place to start when you don’t know where to start—whether in location or in creating good credit standing.
  • The freedom from a burden of a mortgage and interest payments.

On the other hand, buying a home right now is a great option because interest rates are so low. When you have investment or longevity on your mind, finding a home to own might be your best plan.

Buying allows:

  • Monthly payments toward a mortgage to be equal to an investment towards ownership or resale value of the home.
  • A sense of permanency and stability in the city for you and your family.
  •  Choices in doing what you want in order to improve your home and yard.
  • Right now, with interest rates as low as they are and a buyer’s market, the possibility of lower monthly payments than it would be with a rental.

Whether you are in the market for buying or renting a home, our agents at Clark Real Estate want to help you find that perfect place to call home. Stop in or contact us today!

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