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Helpful Tips for Winning a Rental Application

3/23/2023

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Follow these tips and tricks for winning a rental application, and soon you will be able to move into the property of your dreams.
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Having the perfect rental application may seem like something easy to achieve. However, winning a rental application is tougher than it may seem. You must think about paperwork, references, good first impressions, etc. With the following tips, this process will be easier. You will find a good way to stand out to your future landlord and have your rental application easily accepted. 

Get your paperwork in order
One of the most crucial tips for winning a rental application is to provide all the documentation you need. Make sure you have the paperwork in order; otherwise, all your efforts will go to waste. Most importantly, you will need to provide proof of identification, such as a passport or a driver's license. If you are unsure, talk to a professional who will guide you through the process of applying for a rental. 
moving boxes
Plan the moving process while you wait for your application to be accepted
Provide your rental history and references
One of the most important pieces of information you'll need to provide is your rental history. Every homeowner is cautious when choosing a new tenant. They want someone who is reliable and who will pay the rent on time as well as keep the space in order. The best way to let a homeowner put their trust in you is to provide your rental history and references from previous homeowners. Use your rental application to show that you took good care of each property you lived in and that you paid rent on time.

Reach out to the owners of your previous rentals and ask them for references. These will help you immensely with your rental application. Even if the landlord of the rental you are applying for doesn't require you to add a reference, providing one will make you stand out. If many people are applying to rent the same property as you are, this will set you apart from the rest. The landlord will be more inclined to choose you as the new tenant as they'll be able to trust you. ​
a woman writing a cover letter, which is one of the best tips for winning a rental applicationPicture
Contact your previous landlords to get references
Apply for the right rental property
You may already have an idea of what kind of property you would like to rent and live in. So, make sure you always apply for the rentals you can envision yourself living in. Don't apply for every property on the market. It may seem like a good strategy to reach out to as many landlords as possible, but it is not. Only spend time researching and applying for rental properties you know you can afford and live in. You will save yourself a lot of time and have enough energy to look for that perfect rental property. Before you start sending out your rental application to landlords, be sure about what kind of property you are looking for. 

For starters, location is one of the most important factors to consider. This is because the location is one of the rare things you can't change about your new home. Make sure it doesn't make your daily commute much longer. And see whether it has all the amenities you need close to it. Check out each neighborhood and whether it has everything needed for your lifestyle. For example, if you are moving with kids, you can base your decision on the nearby school districts. After you are all set on the location, narrow down your options by square footage and the number of rooms. Of course, factor in the condition of each rental as well. Newly upgraded and renovated rentals will cost more. 

Prove you can afford it
Every landlord wants to rent their property to someone they can count on for years to come. That's why having a good grasp of your finances is crucial. When a landlord knows you will pay your rent on time, they will give you a chance. Show proof that you can pay rent each month by showing proof of employment. Some landlords even contact your employers to make sure whether it is true. You can give proof of income by submitting your tax records. Whichever way you choose, you must provide proof that you can afford the rental property you decided to apply for. 
 a couple moving out of their old homePicture
Once you follow these tips for winning a rental application, you will move into your new rental quickly
Write a cover letter
Besides the references from previous landlords, you can stand out to your landlord by writing a cover letter. The cover letter to the landlord doesn't have to be long. Rather, write down some key points about why you are interested in the property and why you think you'd make a great tenant. A good cover letter can help you during this process immensely. The landlord will appreciate that you took the time to write a cover letter. So, it will give you a bigger chance of being accepted as a new tenant. 

Be ready to move
Another thing that will make the process of applying for a new rental stress-free is to prepare ahead for the move and the relocation. Once you know you are prepared, you will have no problem relocating once your rental application is accepted. Moving can be stressful if you don't do it on time, especially when making an interstate move, such as from Florida to Nevada. Ensure to hire movers and rely on professionals who can handle your move from one state to another. Purchase the right packing supplies and pack as efficiently as you can. Save space and money by decluttering and packing strategically. With the stress of applying for rentals and dealing with the paperwork, you don't want any additional problems. And hiring the right people for the job is one of the easiest ways to make a move to your rental easy and stress-free. 

Tips for winning a rental application: summary
Winning a rental application can be easy when you plan accordingly. By providing all the necessary information, you will appear more reliable and trustworthy. And with a good cover letter and a couple of references from your previous landlords, you will surely be accepted as a new tenant. Before you get accepted, take some time to plan the moving process. This way, you'll move in more quickly once your application gets accepted.

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Things to Inspect Before Signing a Rental Agreement

3/8/2023

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There are several important things to inspect before signing a rental agreement. Read about the most important things to look out for.
a living room and dining room
Moving into a new home can be a fascinating event. But moving away requires a lot of planning and preparation beforehand. One of the things everyone should do before they move into their new home is to inspect it. Knowing the things to inspect before signing a rental agreement can help you decide whether to rent that home. When you check the house thoroughly, you’ll know its actual state before packing your things. You’ll know whether the home's safe and secure and whether it is worth considering moving into.

Electricity is one of the things to inspect before signing a rental agreement
Faulty electricity in a home can lead to severe problems. A house that doesn’t have good electricity isn’t just annoying. It can also be dangerous. That’s why you should always inspect a home's electricity before signing a rental agreement. Check every light switch and lighting fixture when you examine the house. That will help you see whether there are any problems with the electricity. Afterward, try out the appliances. That will help you see whether there are any problems with the electricity and whether the appliances work. You can ask a professional to inspect the electricity before you sign a rental agreement to ensure there aren’t any problems. 

Inspect the plumbing as well
Another essential thing to inspect before you sign a lease agreement is the plumbing. Not only can plumbing problems be challenging to deal with, but they can cause damage to the property and your things. Mold in the bathroom clearly indicates something is wrong with the plumbing. In addition, mold is one of the most dangerous things for your health that you can find in your rental property. Water damage on the walls or the floor is another way of knowing whether everything is in order with the plumbing. If there are any issues with the plumbing, take care of them before you move to protect your things from water damage. To protect your items during the moving process, experts from Rockstar Pro Movers advise you to use high-quality packing materials to protect them. That will ensure their safety during transport even further. ​
 Alt-text: one of the things to inspect before signing a rental agreement is the plumbing like pictured here
Check the plumbing and electricity before you sign a rental agreement
Heating, AC, and ventilation
No matter how great the property is, it can be challenging to live in it if the heating and AC aren’t working correctly. Inspect these things to find a home you’ll feel comfortable in at any time of the year. You won’t have to worry when the seasons and temperatures change. Besides this, make sure to check whether they are clean. A dirty AC and ventilation system can be dangerous for your health. If you notice they are dust-filled, ask the owner to take care of them before you move in. 

Inspect the paint
Before you start planning your move, check out the home's interior. Take a look at whether there are any stains or scratches on the walls. Even if this is something you can live with, knowing that the damage existed before you moved in is essential. You won’t risk losing the deposit after you move out due to the paint damage. Of course, if you notice any water damage to the walls, notify the owner right away. Once the damage is taken care of, you can move in. If you don’t like the color of the walls, ask beforehand whether you can change it. Asking important questions like these will help prevent problems later on. 
a person painting a wall
One of the things to inspect before signing a rental agreement is the paint on the walls
Safety and security
One of the most important things about the home you choose is related to its safety. Before you decide whether to rent it, check to see whether it is a safe and secure place to live in. Security cameras and security codes are some of the things to look for. Inside the home, look for a fire extinguisher and fire alarms. If there are fire alarms, inspect whether they are functioning. A carbon monoxide detector is another plus to look for in a home. You can also check out the crime rates for the neighborhood to know how safe the area is. That will help you decide whether to move here or not. 

Take a look at the furniture
Don't overlook the furniture if you want to rent a furnished home. That is one of the most important things to inspect before signing a rental agreement. Inspect whether it is damaged or whether it needs cleaning. That is especially important to do with wooden furniture that may have termites. Bedbugs are another severe problem you need to be on the lookout for. In addition, see whether you have all the furniture you need. The amount of available furniture and storage space will help you determine which property to rent. 
a woman packing for the move
Before you start packing, plan the move
Moving in after signing a rental agreement
Now that you’re done with the inspection planning, it's time to move. Moving can be a little more complicated if you are moving from one state to another. To save money on your interstate move, downsize the number of things you own by decluttering. After you finish decluttering, it’s time to find the right movers and calculate your relocation costs. You can find expert help in the state to help you relocate safely, even from CA to Nevada. To save even more money on your move, pack efficiently. Put similar items together and use every box to its fullest potential. In addition, make sure to secure the boxes and label them. Not only does this make moving more manageable, but it will also make unpacking a breeze. 

To conclude
These things to inspect before signing a rental agreement are crucial. If you don’t inspect the home beforehand, you risk several things. First and foremost, you risk moving into an unfinished home or needing repairs. Things such as plumbing and electricity can cause several different problems if they aren’t in order. And if you are looking to move into a furnished apartment, the state and quality of the furniture will affect how you feel in the space. An inspection is one of the best things you can do to ensure your safety and comfort. It may take a little organization and time, but it will pay off as you can completely relax in your new home. 

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How to Make Kids Safe and Comfortable in a Rental

2/15/2023

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Let's learn ways to make kids safe and comfortable in a rental and how to easily turn it into a place where they can flourish and thrive.
Parents and their child unpacking after a move
Renting a home can be a fantastic solution for families, but it can come with some challenges. When you have kids, safety and comfort should be at the forefront of your mind when renting a home. So what can you do to make your kids safe and comfortable in a rental? With the help of experienced property managers, we did thorough research, and here's how to adapt your new rental so that your kids feel cozy, safe, and fully comfortable; so, if you're ready to take your rental from drab to fab, get ready to let your imagination run wild! Join us as we explore creative ways to make kids safe and comfortable in a rental so your kids can get creative and be themselves.

How to make your rental safe and comfortable for your kids?
As a parent, ensuring that your kids feel safe and comfortable in their home is of the utmost importance. But what happens when that home is a rental? Renting a home comes with its own set of challenges, especially when it comes to making the space safe and inviting for your kids.​
Two people hanging a painting up on the wall after moving into a rental with their kid
As a parent, it's crucial to make an effort and make kids safe and comfortable in a rental.
However, with a little creativity and effort, you can transform your rental into a cozy and secure home for your family. There are plenty of decorating ideas for rental that you can use as inspiration to decorate to your taste. And when it comes to making your rental child-friendly, we're here to help you. So let's cut to the chase and explore ways to make kids safe and comfortable in a rental.

Child-Proof Your Home
One of the most important steps in making your rental home safe for your kids is to child-proof it. This will reduce the risk of accidents and injuries to your kids. You can start by removing any hazardous items from reach, such as cleaning products, sharp objects, and anything that could pose a danger to your children. Covering electrical outlets and securing loose rugs will prevent trips and falls. It's essential to make sure that all windows and doors have working locks, as well as to install smoke detectors and carbon monoxide detectors throughout the home. This will give you peace of mind and ensure that your children are safe.


Organize Your Home for Safety
Organizing your home can make it safer for your kids. You can use child-friendly storage solutions, such as low-level shelves and drawers, to organize toys and games. This will help to reduce clutter and keep the home tidy. Using labels or pictures to help your kids find what they need and putting things away when they're finished playing will make the home more organized and safer for your children.


Keeping your home tidy and clutter-free is crucial to reduce the risk of accidents and injuries. This is especially true if you have toddlers running around. Get creative with storage solutions in your home, and in case you lack space, listen to the word of advice from the friendly team from Pro Movers Miami and rent a storage unit. It's an inexpensive and efficient solution to keep your home neat and your belongings safe.

Create a Safe and Cozy Sleeping Area
A good night's sleep is essential for kids, so it's crucial to make their sleeping area as safe and comfortable as possible. You can start by checking that the beds are sturdy and in good condition. Consider using a fitted sheet on the mattress to prevent accidents and to make it more comfortable.
Two beds next to each other in a children's room with white and blue walls
Since quality sleep is essential for your growing youngsters, make it your priority to create a cozy sleeping area for them.
You should also have plenty of soft and cozy blankets on hand, especially during the colder months. If possible, try to place the beds near a window to provide natural light during the day. This will create a peaceful and inviting environment for your children to sleep in.

Add Personal Touches
By making an effort to 
personalize your rental, you'll instantly make it feel like home for both you and your kids. You can add photos, artwork, and other decorations to the walls. This will help your kids feel more connected to the space and make it feel like a true home. If possible, let your kids help with the decorating and choose items that they love. This will give them a sense of ownership and pride in their home and make it more special to them.

Incorporate Natural Light
Natural light can make a big difference in creating a warm and inviting environment for your kids. When renting a home, look for a property that has plenty of natural light, such as large windows or skylights. This will help to create a bright and cheerful environment that your kids will love.


If the property doesn't have much natural light, consider adding lamps or other light fixtures to help brighten up the space. Not only will this create a more welcoming atmosphere, but it will also help to reduce stress and promote better sleep for your kids. And let's not get into the importance of vitamin D for your kids. 

Use Color to Create a Cozy Environment
Colors can play a big role in creating a cozy and comfortable environment for your kids. You can use soft, warm colors, such as pastels or light neutrals, to create a calming and inviting atmosphere. Consider adding a pop of color with some bright accents, such as a colorful rug or some artwork. 


However, if you want to make sure to get your deposit back, check your lease or consult your landlord about whether you're free to make such changes to the place. If you're not allowed to paint the walls, you can always add some color with curtains, bedding, or wall art. You can even make a fun day out of creating family home art together!

Encourage Play and Exploration
Encouraging your kids to play and explore is a great way to make your rental home feel like a home. Setting up a play area where your kids can let their imaginations run wild is an excellent way to create a fun and safe space for your kids. You can use toys, games, and other activities to encourage exploration and learning. Make sure that the play area is safe and accessible, and keep it organized and tidy. This will allow your kids to play and learn in a safe and comfortable environment.
Boy wearing a red sweatshirt playing with blocks in a room with an open shelf full of toys behind him
Dedicating a cozy play area is a great way to make kids safe and comfortable in a rental.
In conclusion
​As you can see, with a little effort and creativity, you'll easily make kids safe and comfortable in a rental. By following these tips, you can ensure that your kids feel safe, comfortable, and happy in your new home. And in case you're still looking for that perfect rental, make sure to 
reach out to expert property managers. They'll understand your wants and needs and, based on them, help you find a rental that perfectly fits. 

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7 Reasons Why Reno, Nevada is a Great Place to Start a Business

1/30/2023

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Are you thinking about moving to Reno, NV? Whether you’re a current or prospective entrepreneur, Reno is a fantastic location to run a business. The city and state boasts all kinds of wonderful opportunities for entrepreneurs. You’ll enjoy robust community support for small businesses, an educated workforce, and no shortage of local resources designed to help local businesses thrive. In a rocky economy, the value of launching a business in a supportive environment cannot be overstated.

Availability of Rentals

If you’re not in a position to buy a home, renting is a great alternative, especially in Reno. The city has a variety of rental options at price points suited to various budgets. Look for homes in a neighborhood that fit the needs and wants of your family. 

Once you’ve chosen a few suitable areas, view online listings to find properties in your price range. Most online rental sites will allow you to filter your search results based on your desired number of bedrooms and bathrooms, so remember to take advantage of these tools! Consider working with us here at Clark Real Estate to find the best rentals in Reno.

Explore this and other reasons you should consider setting up shop in Reno:
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Things to Know Before Moving to Reno, NV

1/26/2023

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Here are the top things to know before moving to Reno, NV, for all those planning to make it their new home.
A girl surrounded by moving boxes.
​Have you ever heard of the biggest little city in the world? We are talking about Reno, Nevada, a place in the northwest part of the United States of America. Whether for its incredible landscape, dynamic lifestyle, proximity to San Francisco, or the everlasting fun this city promises, Reno has been one of the most popular places over the years for both visitors and newcomers. So, if you have heard these amazing facts and are planning to come there for good, here are several things to know before moving to Reno, NV.

A few words about living costs
One of the most important things everyone would like to know when buying a home in the Reno city area is how much money they would need for a living. Well, truth to speak, Reno, Nevada, is not the most affordable place in the world. It is among the most expensive ones. An average family needs approximately $80,000 a month to have a decent life. Although living in Reno is cheaper than living in San Francisco or New York, it is still in the high 21st position among the most expensive cities in the country. Its living costs are about 8% higher than the national average.
A person is counting money.
The living costs are high, but life there is good.
The real estate market
Low property taxes, and generally high incomes, make Reno one of the top three places in the USA where people wish to buy a home. There are neighborhoods for everyone. Starting from the ones hidden in the peacefulness of a forest area to those situated in the center of busy city life.

Furthermore, since the number of buyers in the real estate market has grown, the available offers have decreased in the past several years. What's more, homes that are still in the game have pretty high prices. Still, some researchers have shown that shortly, the price growth will slow down for a little bit. That is why this may be the right time to invest in a house in Reno, one of the most wanted real estate in the USA. And when the moment of relocation comes, as the experts from familyaffairmoving.com would say, all you need is a group of experienced movers, and everything will be done in no time.

Finding jobs
The job market in the city of Reno is in constant growth. Their industries are expanding, and the offer is diverse. Some of the most developed industries in recent years are technology and healthcare. The number of opportunities is growing, while taxes are still pretty low. So, if you are moving to Reno to find a new job, you are one among the many.

The weather- one of the things to Know Before Moving to Reno, NV
In Reno, you'll have a chance to meet all four seasons. All over the year, they have a mixture of great hot summers, pleasant springs and autumns, and beautiful snowy winters. You'll see rain, snow, sun, strong winds, and even thunderstorms. Although the temperatures in the hottest and the coldest months can vary, they never go below 23°F in winter or 89.6°F in summer.

So, if you are among those who are moving to Reno from California for work, get ready to pack some warm clothes, too. You are going to experience some real winter weather with all its charms. And when it comes to preparing your household for the move, experts can pack in no time since packing services in California are more than excellent.
A person is wearing a jacket on a snowy winter day.
Come to Reno to see all the weather aspects.
The town's atmosphere
When we say small-town atmosphere, we mean precisely that. One of the things to know before moving to Reno, NV, is that their people cherish a strong sense of community. Naturally, everyone knows their neighbors. Even if they are newcomers, it's only a question of time before someone will knock on their door and help them blend into the city's community and life.

That is one of the reasons why Reno is a perfect moving destination for families. In this city, you will find numerous great family-friendly parks that can offer entertaining outdoor activities for kids and adults. And when it comes to traffic, traffic jams will be your past since people in Reno rarely sit and wait in their cars for more than a few minutes.

Education
When we talk about schools you can find in Reno, there are many options. Reno's education system is strong. Some of the best public schools in Nevada are in Reno.

On the other hand, when it comes to higher education, Reno residents can boast of being a college city. Apart from the Truckee Meadows Community College in this city, there is also a four-year public University of Nevada Reno.

The crime rate in Reno, NV
Since safety is one of the top priorities among the residents of any city, especially if they have children, it is good to mention that Reno is not considered the safest place in the world.

However, although the crime rate is above the national average, not all neighborhoods have the same crime rate. The Reno residents prefer living in the southwest part of the city since they claim it to be the safest one. Still, you should remember that there is no perfectly safe place in the world. So, all you need to do is to get informed about the crime rate in the area of the city you would like to live in. 

Entertainment
Well, entertainment is the word that best describes life in Reno, NV. This is the city where the fun never stops.
  • If you have heard of Reno before, you must know about its famous casinos. Some of the best gambling sports in Nevada are found precisely in Reno.
  • However, Reno is not all about having fun gambling. It is also an important cultural and art spot. Apart from all the art centers, galleries, and museums you can visit, there are also special celebrations and events all year round. Some of the most interesting ones happen in July.
  • For all the night-out lovers, friendly restaurants in Reno offer high-quality and diverse cuisine.
  • When it comes to outdoor fun, there are incredible mountain hikes, golf courses, ski resorts, and many other winter recreation options.
Some people are playing poker.
One of the things to know before moving to Reno is that you can find great casinos there.
So, that's it for the beginning. Those were the most important things to know before moving to Reno, NV. We are sure you have already fallen in love with the place. So, we hope it will fulfill your expectations.

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What Landlords Should Know About Renting to Roommates

12/15/2022

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From signing a rental agreement to choosing roommates, here are the things you need to know about renting to roommates as a landlord.
two roommates moving in
Living with roommates can be challenging. However, as a landlord renting to roommates, things become a little more complicated. You will have to carefully write a lease or a rental agreement. As a landlord living with a roommate, you still have the same rights as if you were renting out the entire unit to them. But there are more things you will need to keep in mind so you and your tenant can be happy. Things such as house rules are essential in situations like these. Let’s see what the most important things to know are. 

Renting to roommates: a lease vs. a rental agreement
A lease versus a rental agreement – which is the right choice for you? Although many people think they are the same, they have one key difference. What makes one different from the other is the time for which you will be renting it out to them. A lease is signed for a more extended period than a rental agreement. A rental agreement lasts much shorter than a lease. It is usually signed from one month to the next. With the rental agreement, you can change the terms before you renew it. And, with a lease, you can’t change the rent price until it is over. 

A lease can give you security for a more extended time. You don’t have to look for a new tenant and have secured income for a while. But, as a landlord renting to roommates, a better choice may be signing a rental agreement. In case you don’t like living with your roommate, it makes it easier to part ways. The fact that you rent to your roommate does not give you the right to evict them if you do not like living with them. That’s why a short-term contract is the better option for you. You can change the contract terms for the upcoming month if there is anything you wish to change. 
a person signing a contract, which is an important thing when renting to roommates
A lease or a rental agreement is a must when renting to roommates
What you need to have in your rental agreement or lease
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In your rental agreement or lease, you can add helpful information for you and your roommates. Most importantly, it should contain the cost of the rent. Aside from that, you can have it written down when you want the rent to be due. If you want your roommate to leave a security deposit, write this down. You must, of course, include some basic information about yourself and your roommates. You can use this opportunity to write down some basic ground rules. Write down on what date your new roommate can move in. As experts from statetostatemove.com advise, staying organized during the moving process is crucial. Your new roommate will move in stress-free and can start unpacking on schedule.

For example, you can write down whether pets are allowed and under what terms. Another essential thing to include is maintenance. Even though you are living together, you still have to give them notice. You will have to tell them whenever you want to do repairs, upgrades, and other maintenance. Write down the number of days you will let them know beforehand. In the agreement, you can talk about basic house rules. You can write down things such as whether smoking is allowed or not. When you clearly define these things beforehand, you ensure you don’t encounter any problems later. 
two roommates talking
Choose a roommate you can trust
Choosing a roommate as a landlord
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Finding the perfect roommate may seem impossible at times. When renting to roommates, you want to live with someone you can trust. Plus, you want to live with someone who keeps their home as tidy as you do. All of this may seem challenging to find in one person. However, with careful selection, you can find the ideal roommate to rent to. Before you make a final decision, contact them a couple of times. You want to see what kind of person they are and whether you have a similar lifestyle. Ask questions to see how reliable and trustworthy they are. You don’t have to be friends and like the same things. However, having the same viewpoint on parties and house guests is essential.

Even if someone seems like the perfect roommate, talk with multiple people. In case your first choice of roommate backs out, you will have someone else to call. You might be pleasantly surprised and find someone better than your first choice. Either way, you will be more comfortable with your roommate choice when you know you took the time to meet multiple people. One of the things that can help is to ask them for references. You can ask their friends or former roommates for their input. You will feel good about your choice when you know some people can say positive things about your new roommate. 
two women talking at a coffee shop
Interview a couple of people before choosing a roommate
Be prepared for emergencies
Sometimes, things don’t go as planned. There’s always a chance of your roommate suddenly leaving. They may accidentally cause damage to your property. That’s why being prepared for emergencies is very important. A security deposit is a valuable tool for securing the safety of your property. If your roommate moves out and doesn’t fix any damage they may have caused, you will be prepared. You won’t have to break the bank to get your property in good shape for your next roommate.

As a landlord, it’s best to leave some money aside if you can. Finding a new roommate can take a long time. And, during this time, you want to be secured. That’s why creating an emergency budget for this problem is crucial. Even if you find the perfect roommate, it’s still a good idea to have a lease or rental agreement. This will give you safety as a landlord.

To sum up
Being a landlord and renting to a roommate has its challenges. It is much different from a couple of roommates living together and paying rent to their landlord. You will have to be more careful with your choice of tenants. And you will have to find the fine line between being a landlord and being a roommate. But this doesn’t mean that being a landlord and a roommate simultaneously is impossible. It can be great. When renting to roommates, all you have to do is carefully select them and sign a contract. Now, you know you are secure and have found the perfect person to live with.

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Why Moving and Starting a Business at the Same Time Aren’t Mutually Exclusive

6/28/2022

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Suppose you've decided that this is the year to achieve your business dreams from your home because you realize all the benefits that come with doing what you do best as and when you see fit. But there's one glaringly obvious problem - your current home is too small. Here's how to make the necessary changes, so you can accommodate both. 

If you're looking for a new home in the Reno/Sparks area, visit our Reno Property Management website. 

Check if it is allowed
Before you even decide on a home where you can run your business, you'll first have to check if it is allowed. This would entail checking the rules of business zoning in your area to see if you can operate your business from your home premises. Furthermore, you may have to apply for a special license or permit depending on the type of industry you're in. So best to have these all checked out before you even resume operations so that you don't end up entangled in all sorts of red tape before you even begin. 

Check your budget
Your budget will also have to be tailored to take into account your move, what with all the extra expenses that will be involved in moving your business and its belongings over with you. For example, you may need to take out extra insurance depending on the coverage provided by your moving company if the coverage they do provide is insufficient. Also, your budget is going to have to cover all the extra expenses associated with moving and if you're moving to a new state then the additional cost of living expenses will need to be taken into account too. 

Finding a property that will meet all your requirements
Finding a property that is going to meet all your requirements is going to be something else to think about too. After all, it's going to have to be big enough to cater to both your business and your family. Furthermore, it may have to have additional rooms for a home office, for example, and it may also need to have ample parking space or access to ample parking space if you are going to have clients visiting every now and again. 

Make sure you have all the basics covered 
If you are planning on going full steam ahead with your business operations as soon as you're settled in, then you'll want to make sure you have all the basics covered as far as equipment and furniture goes. When thinking of choosing the right furniture for your home office, you should combine practicality with style to ensure that you are as productive as possible in your home office. 

Then, you'll want to think about investing in the necessary software to run your business smoothly. You will require an easy to use bookkeeping system to ensure your accounting efforts are up-to-date at all times. Here, we're referring to accounting software that allows you to store and organize your receipts adequately so that you can benefit from tax savings down the line whilst adhering to the applicable tax legislation. It should also provide you with the tools to manage your cash flow better so that you stay on top of incoming and outgoing expenses.

These are just a few of the major deliberations that need to be had before you think about up and moving everything somewhere new. But it's vital that you do to ensure you have the wherewithal to not only cope but thrive during this new transition. 
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Image via Pexels
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Buying a Fixer-Upper as Your First Home

5/16/2019

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Empty house  Photo via Pxhere
Photo via Pxhere
​If you are fortunate enough to find yourself in a position where you think you can afford to own property, you then have to deal with making the biggest and most complicated purchase of your life. For some, adding to the complication of a major renovation seems like madness. But for others, fixer-upper homes are the most achievable way to get the house of their dreams. If you have been considering joining the fixer-upper club, here’s what you’ll need to think about.
 
The Buying Process
The first thing you need to do is determine your budget. In the case of a fixer-upper, this has to include both the price of the house and the renovation costs, but it is easier for you to think of them together for the time being. Good indicators to establish a budget include your annual income, money saved for a down payment, monthly spending, loan type, and current average APR. Don’t forget that there are plenty of hidden ongoing costs to owning a home, so you also need to take things like insurance, taxes, and maintenance into account.
 
The next step for most homeowners is to get to know their local market and see what kind of home they can buy in the area with said budget. Nolo.com suggests that the best way to know how much to offer on a fixer-upper is to figure out the value of the home if it was fixed, calculating the cost of the work, and then subtracting one from the other.
 
Once you find the fixer-upper of your dreams (and budget), there are a few additional steps you need to cover before making an offer. Get a full home inspection, which will highlight any repair work you may have missed during your visit, and re-adjust your offer accordingly. If a house you love has severe structural issues that would cost a fortune to repair, it may not be worth it.
 
As you look into financing your purchase, research the types of loans that will work best for your situation. For example, if you’re a veteran with so-so credit and not a lot socked away, you are eligible for a VA loan, which can help when it comes to finding decent interest rates, plus there won’t be any mortgage insurance. On the other hand, if the home needs serious work, you can look into an FHA 203(k) loan. These loans provide funding for the home and the necessary renovations, in addition for funding that covers the time you can’t live in the home.


The Renovation
When it comes to renovating your new home, planning is the most important thing you can do. It may be tempting to throw yourself headfirst into the first DIY project you can think of, but this is not the most efficient way to proceed.
 
Make a full list of everything that needs to be done, and sort tasks by priority. At the top, place anything that is necessary to make the house livable, such as electrical work, plumbing, or structural issues. Then address changes needed to make the house attractive. Finally, finishing decorative touches go last.
 
A full renovation schedule is important, but it is by no means the only thing you need to consider. Real Homes has a detailed checklist of things you need to do before you start renovating, covering everything from securing the building site to learning about your home’s architectural features. And if you haven’t already, invest some cash into some quality power tools such as drills or saws to make those DIY projects a little easier.
 
​
The Resale
There is an accepted idea in society that your first house is a “starter home” and that you will eventually trade up to a bigger and better one. National statistics say the average first-time buyer stays in that house for 11 years before moving on to another home. However, there is also evidence that many first-time buyers, particularly young millennials, are skipping the starter home altogether. Instead, they are choosing to wait longer and put in more effort to buy a home that is right for them for the long haul.
 
Whether you choose to re-sell your fixer-upper will ultimately depend on two factors: firstly, whether you bought the house with the long-term in mind, and secondly, how much value you have added through your renovations. Do bear in mind, however, that experts recommend living in a home for a minimum of five years before selling.
 
Buying a fixer-upper for your first home doesn’t have to be a terrifying and intimidating prospect. As long as you are reasonable with your budget and expectations and do your homework, your fixer-upper can either end up being your dream home or a great first step on your way up the property ladder.
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Property Management in Reno

1/11/2018

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How to Upgrade from Tenant to Homeowner

9/18/2017

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Picture
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. *
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