SkyFive Properties Blog

Purchasing a home can be a long process, even if you think you’re ready to settle down in one. First, you need to find the best homes for sale and hope that they won’t sell before you’re ready to put an offer down. Then, you also need to make sure you have a good enough cash flow and credit score to qualify for the right loans.

In total, it can take months to buy real estate. That includes the time it takes to shop around.

Whether you’re new to the area or not, here are five tips for buying Kansas City houses.

1. Research Your Options

Determine your budget and what you can afford. Make note of neighborhoods you’re interested in and the asking prices of properties in the area. Don’t be afraid to look at areas you weren’t otherwise interested in for affordable listings.

Knowing your buying power is essential for determining your options.

For example, consider the hidden costs of buying a house, such as the down payment and additional transaction fees. Your mortgage rate will depend on your credit score, and some loan providers may deny you altogether if your score is too low.

2. Work on Your Credit

As noted, your credit score has a big impact on what you can afford. Even if you’re currently making good money, it can take years for your credit score to change accordingly.

Loan providers all have different credit score requirements in order to qualify. The minimum credit score required usually ranges from 580 to 640. Even if they approve you, it may come with a high mortgage rate.

3. Decide on a Loan

Don’t be afraid to get help when looking for a loan. There are a lot of different loans out there, and you may not qualify for some of them.

Your best option is to speak with a loan professional. They can check your credit score and advise you on how to improve it.

4. Find the Best Agent

On a similar note, find a knowledgeable buyer’s agent. There are always areas within your city that fluctuate in value over time. A competent real estate agent should know if a home is entering your price range if you’re still looking.

A good agent can also help you sell your old home or property that you’ve inherited. Check out www.bestofferkc.com for more information.

5. Don’t Wait on the Market

Most importantly, don’t try to wait for the perfect time to buy properties for sale. Buy real estate when you can if it’s something you’re interested in and you can afford it. At the same time, don’t be afraid to slow down if you haven’t found the perfect home yet.

Invest in the Best Kansas City Houses

When looking for Kansas City houses, make sure you’re purchasing the best option for your lifestyle and budget. Get a home inspection so you aren’t caught off guard by hidden structural issues, and protect your credit before you close.

If you’re interested in learning more about real estate and the rental market, check out some of our other content and our listings.

Selecting from the hundreds of strata property management services available can be confusing enough for an individual, let alone a corporate body. Whether it’s your first time dealing with body corporate or you’re simply shopping around for a new strata management company, finding a reliable service that is second to none in industry knowledge is absolutely vital.

To help you make the best decision, here are 6 factors to take into consideration when looking for a new body corporate company in Australia.

1. Expert Knowledge On Local Legislation

It goes without saying that when searching for a new body corporate, expert knowledge of the local area and its legislation should be top on your list of services to check off. Having a local representative that understands the unique challenges of your particular suburb or neighborhood is vital in ensuring that your body corporate strata group is equipped to deal with any challenges thrown their way. Aside from being familiar with the local area, it is equally important that the body corporate is an expert on local legislation as every state is different and subject to slightly different regulations by law.

2. Dedication To Property Maintenance

Body corporate is responsible for the various repairs and maintenance tasks that are required to keep common property areas and their inclusions in tip top shape at all times. This is why searching for a company that places property maintenance at the top of their list is absolutely vital. Depending on what type of property you are dealing with (building format or standard format), the maintenance responsibilities of the body corporate will differ.

A building format plan’s body corporate is responsible for:

• Maintaining and repairing garage doors and fittings;
• Maintaining gardens, lawns, and roads on common property;
•  which can include any springs, gears, and various mechanisms
• Upkeeping facilities such as gyms, swimming pools, saunas, BBQ areas, lift lobbies, and more;
• Upkeep building exteriors including doors, windows, and balcony railings.

A standard format plan’s body corporate is responsible for:

• Pest control;
• Maintaining gardens, lawns, and roads on common property;
• Upkeeping facilities such as gyms, swimming pools, saunas, BBQ areas, lift lobbies, and more;
• Maintaining pipes, wires, drains, sewers, and other equipment that supply a service to more than one unit.

3. Drafting and Enforcing Strata By-Laws

When living in or owning a strata property, residents are required to adhere to specific strata by-laws that may regulate matters regarding parking, smoking, noise ordinances, use of common property and pet ownership. A reputable body corporate will take an active role in drafting and enforcing these strata by-laws for the benefit of all lot owners and residents. Aside from enforcing standard by-laws set out in the legislation, the body corporate is also entitled to create their own by-laws to suit the specific scheme’s circumstances. If these laws are breached, the body corporate should work efficiently to deal with it in an effective and lawful manner.

4. Transparent Financials

Another non-negotiable service that any reliable body corporate should offer comes in the form of having accurate and transparent financial information available when necessary. Having easy access to accurate and up-to-date financial information is key to helping the committee function much more efficiently and effectively. Efficient collection of levies, responsible cost management, and accurate accounting are crucial for everybody corporate.

5. In-Depth and On-Time Reporting

When shopping around for a new body corporate, it is essential that you discuss what reporting capabilities the service provider has. In-depth and on-time reporting is a crucial component of any corporate service as it can help you understand important information, identify trends, undertake analysis, hold discussions with major stakeholders, and much more. Aside from providing accurate reporting, these reports must also be easily accessible at all times. For example, some companies upload all relevant information to the cloud, ensuring that key players have access to important information regardless of location or time.

6. Commitment To Customer Service

Last but not least, having the best owners corporation in the world doesn’t matter if their customer service is sorely lacking. Strata managers should be committed to providing the highest level of customer service at all times, regardless of the scope of services they provide.

The ideal body corporate will treat all its customers with the same level of care, actively take the time to listen to customer needs, respond to emails and phone calls on time, and of course, always provide help when required. The last thing you want is to not be able to get in contact with your body corporate in the event of a problem arising, so be sure to do your research by asking around and looking at online reviews before jumping the gun.

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And there you have it – the 6 pivotal factors you must consider when you’re on the hunt for a new body corporate management company. Have we missed out on anything? Be sure to let us know your thoughts in the comments!

The vacation rental industry is undoubtedly vibrant due to tourists’ constant need for short-term accommodation alternatives to hotels. The industry’s revenue declined in 2020 due to the pandemic. However, America’s 23,000 vacation rental companies are set to recoup their losses because many Americans have travel plans this year. You will enjoy immense success by finding the niche audience for your properties if you run a vacation rental business. This success will happen whether you are the owner or property manager. Here’s how to make your vacation rental business more profitable by finding the right audience.

• Rethink your ideal target audience

There is no denying that audience segmentation has become very vital in the vacation rental industry. Indeed, the best vacation rental companies are skilled at identifying their ideal guest and catering to their unique needs. Consequently, you must also rethink your ideal guest profile to enjoy immense success in this industry. Age, hobbies, gender, and income are some of the demographic factors you may have to reconsider. Then, update your real estate business plan with these new demographics to give your company a fresh sense of direction.

You can make huge profits by marketing your rental properties to a more suitable audience. For instance, let’s assume you own or manage cabins close to stunning mountain ranges. You are better off marketing to clients interested in hiking, nature, and city escapes than families with small children. Similarly, your small or medium-sized apartments in urban neighborhoods will be more suitable for young couples and small friend groups. You can also market your villas with pools to large friend groups or affluent families instead of targeting everyone. Rethinking your ideal target audience will make your market segmentation and marketing efforts more effective. This way, you can continually attract the right lodgers, reducing vacancy rates.

• “Niche-ify” your properties

After accurately identifying your audience, the next best thing is to turn your properties into what they seek. Your furnishings are a great way to achieve this. For instance, functional and child-friendly furniture pieces are ideal if you are targeting families. Likewise, finishing touches like detachable grab rails in bathrooms and portable ramps are non-negotiable if seniors are your audience. The channels you use to list your properties also matter, as does your tone of voice when writing listings. Even the guests’ house manuals also play a part in making your properties fit for the right audience. As such, use the right tone of voice and aesthetic design when creating house manuals.

• Connect with your audience

Your niche audience must know about your company’s services to consider you an option in the first place. Therefore, investing in connecting with them through various effective means. An effective way of doing so is by creating content for your brand’s website and social media platforms. This content should address common concerns potential visitors will have when searching for a vacation rental. A whopping 96% of marketing decision-makers say content marketing works for their brand, so it is definitely worth trying. Email newsletters and campaigns, influencer promotions, and social media ads are other ways to connect with your audience.

New York is home to 20 million residents and thousands of people relocate to the city every year.

Commonly referred to as The Big Apple, New York has a long list of tourist attractions and unique landmarks. No matter what street you’re walking down, you will spot an iconic New York apartment block or a sightseeing destination, such as the Statue of Liberty.

Whether you’re planning on moving to New York or you want to take your next vacation in the city, you won’t disappointed with everything that it has to offer. Here are some of the top reasons why so many people love New York.

Endless Entertainment

The wide variety of entertainment facilities in New York is one of the main reasons why so many people choose to spend their yearly vacation in the city. Whether you love performing arts, sports, or music, there is a range of fun activities for the whole family to enjoy.

You will never be short of things to do in New York. The city is brimming with museums, theatres, and retail stores. You have entertainment every day of the week!

Housing Options

Whether you are on your own, with a partner, or with a large family, New York has housing options for everybody.

Every type of property, whether it’s a newly built home or an old-fashioned building, is spacious and practical. Even the New York Townhouse Floor Plans reflect a homely space for single people or couples to enjoy their time in The Big Apple.

Although rent is notoriously high in New York, it’s no higher than in the other popular cities of the world. You can enjoy stunning views of the city center from your high-rise apartment or live in the low-rise townhouses in a residential area of the city.

Diversity

Everybody is welcome in New York, no matter what race, ethnicity, or religion. The city boasts the most diverse range of people that you will find across the globe.

As you walk around New York, you will hear hundreds of different languages and accents due to the diversity in the city. It’s the perfect place to meet a variety of people and learn about new cultures.

Atmosphere and Convenience

New York is the city that never sleeps. It’s a fast-paced environment that is lively 24 hours a day, seven days a week.

If you enjoy being surrounded by a diverse group of people and you love the hustle and bustle of city life, New York is for you. It’s a city that is vibrant, exciting, and full of atmosphere.

Convenience

New York is one of the most convenient places in the world because everything is right on your doorstep. Every shop, cafe, and store is open at all times of the day, including late evenings and weekends.

Whether you need a loaf of bread from the grocery store, a spare car part from the garage, or an evening meal at an amazing restaurant, you can find what you’re looking for. Whatever you like or need, it’s just a stone’s throw away in the city of New York.

There’s no place like home. And your family home is usually our home base for many years. Somewhere to raise kids, to live, laugh and love. A place to rest, party in, and share food, drink and merriment with your family and friends.

Many people live in their family homes for decades until the kids are grown up and have moved out into their own homes. If this is your situation, you might be ready to downsize. But what if you want to retain the family home as an investment property? This can be a great financial move and one that can guarantee you passive income for years to come.

However, older homes often need a spruce up to prepare them to be appropriate and habitable rental properties. This article will share how to prepare your old family home for the rental market. We’ll cover renovations, restorations, working with property managers and more. Read on to find out what you need to do.

Renovations

You may need to renovate rooms or even the whole house in some cases. This will depend on how worn out your old family home is. You can head along to some rental inspections in your area to see the current market, and get a clearer idea of what sort of work your house may require.

For instance, a renovation may be in order if your bathroom is older, with outdated fittings and fixtures, loose tiles, and possibly some leaks.

Another room that sees frequent use is the kitchen. If your kitchen has seen better days, you could consider a minor renovation to bring it up to scratch. Remember that renters deserve a lovely home to live in. By renovating some rooms in your old family home, you can even increase the rent you can demand. Therefore, you will even see a return on the renovations.

Make Necessary Repairs

The next step is to give your home a thorough inspection. Check all appliances, lights, vents, fans, the roof, flooring and more. Make notes of damage, faults, cracks, chips, marks, and other blemishes. Then, arrange the necessary repairs.

If some appliances are pretty old (ten plus years), you may be better off replacing them with brand new items. Appliances such as your dishwasher, garbage disposal unit and other kitchen appliances are all things that have a limited lifespan.

A Fresh Lick of Paint

You’d be amazed at the difference a fresh lick of paint can make to a home’s appearance. Consider painting all interior rooms, especially bedrooms, to spruce them up. If your home has an external facade such as weatherboards, consider painting them.

Painting can be a large job, so be prepared if you’re doing it yourself. Remember to sand back first, and give each area an undercoat and then two complete coats of paint.

If you are time-poor, you could consider engaging a professional painter who will do a fast and thorough job.

Contact Property Managers

Unless you want to manage tenants yourself (we don’t recommend this), you’ll want to engage a property manager.

This professional real estate agent will manage your rental property, deal with the tenants, arrange repairs and maintenance, and collect rent on your behalf.

They do this for a fee, which is typically a certain percentage of the monthly rent. It is definitely worth it because a property manager tends to be across all the regulations and legislation that govern rental properties in your state. You pay for their expertise, and you also pay to let them manage any headaches that can arise when dealing with the tenants or other parties.

A property manager is also a local expert in rental properties in your area. So they can advise on the best rental price and will market your home to prospective tenants. A property manager is an excellent idea for this alone and their other knowledge.

One way to narrow down your choice of property managers is to contact a few and let them pitch to you. Then, make a list of the pros and cons of each of them.

Don’t always choose the cheapest property manager. This can be a red flag that the service isn’t up to scratch. An incompetent property manager is a nightmare for both landlord and the tenants.

Pick one that you have a good gut feeling about and one who is knowledgeable about your local area and all the relevant codes and regulations.

Summing Up

We’ve shared how to prepare your old family home for the rental market in this helpful article. You may want to consider renovations, especially if the bathroom and kitchen are worn out and outdated. Make all necessary repairs, and a fresh lick of paint can work wonders. Finally, engage a professional property manager to look after the property. A good property manager is worth their weight in gold.

The real estate market has two sides. There are buyers and sellers. Each group has different goals.

Buyers seek to keep their costs low. It’s safe to say that sellers want to increase their profits.

Several factors give one of these sides bigger advantages. The current market determines which side will have greater bargaining power.

It’s all about supply and demand. The question to ask is: is it a buyer’s or seller’s market? Read on to learn about the current market conditions.

What Is a Buyer’s Market

Consider how the housing market is in your area. Is there a surplus of homes? Is the demand for them low?

If this is the case, you’re in a buyer’s market. In this type of market, home prices tend to go down. This effect is due to less competition.

In a buyer’s market, homes might stay on the market longer. This is bad news for sellers as they want to sell fast. Many might find themselves having to reduce the home’s price.

When sellers aren’t able to sell, they might feel pressure. Oftentimes, they’ll make concessions during the negotiation process. This can lead them to lose money.

How to Navigate a Buyer’s Market

Depending on which side you’re on, you’ll need to know how to navigate a buyer’s market. If you’re a seller, you need to consider if now’s the right time to sell.

If there’s no absolute need to sell, it may be best to delay your listing. Wait until the housing market turns in your favor.

As you wait until the housing market shifts, you can take the time to make home improvements and upgrades. These investments can help increase your profit when you do sell.

If you’re a buyer, it’s time to buy. There’s no need to rush as competition is low. Compare homes before you put in an offer.

What Is a Seller’s Market

When is it a seller’s market, you ask? You’re in one when the supply of homes doesn’t meet the demand from buyers. Home prices will go up, as more buyers are seeking to buy.

How To Navigate a Seller’s Market

If you plan to sell, you should first compare home prices in your area. It’s best to list your home at a price that buyers are willing to accept.

If you plan to buy, you might want to wait. Let the market be on your side. If you can’t wait, you’ll need to act fast.

Do you need help determining what type of market you’re in? You should hire a real estate firm. You can directly ask them, “Is it a buyer’s or seller’s market?

A real estate firm is familiar with real estate trends. Allow a real estate firm to help you. Click here to learn more about their services.

Is It a Buyer’s or Seller’s Market

If you’re in the housing market, you’ll need to know one thing. Is it a buyer’s or seller’s market? That’s the million-dollar question.

The answer to this question will help you determine what your next move should be. When it comes to real estate, there’s no room for error.

Make sure to explore the rest of our blog to continue reading more articles.

Did you know that about a third of Americans with garage space do not keep their vehicles in their garages? Alternatively, they use the garage for other activities, such as a home gym, storage, or simply excess clutter.

Have you ever thought about doing a garage renovation to boost your home value or have more organization in your life? Here are three ideas that you should consider to bring your garage space to the next level today.

1. A Top Notch Garage Door Opener

Garage door opener technology is always changing, so it is important that you stay on top of the latest trends in this area. For example, many garage door openers now work with a cellular application, so you can open or close the door from anywhere.

This is helpful if you have children, but you do not want to give them a house key just yet. They can have an app on their phone and use it to open the garage. You can also purchase a separate keypad with a code that only the members of your household know.

It is important to have a variety of options so that you do not have to worry about always having access to your garage space.

2. Storage Options

Even if you plan to store your car in the garage, you should try to maximize the remaining space for storage. One of the best ways to store items is in the top rafters of the garage.

You can install sliding racks that can hold storage bins and other large items that may get in the way when they are sitting on the floor or against the wall.

If you have lots of different tools and materials in your garage, you may need to build specialized storage areas. For example, if you like to do woodworking, then you can have a cabinet for all of your supplies and excess materials.

3. A New Garage Floor

Installing a brand new garage floor is a great way you can upgrade your garage space. If you plan on storing vehicles in your garage, polished concrete is a wonderful option that is durable and cost-effective.

Although epoxy has been all the rage in garage renovation ideas, there are actually other options that will work better. For instance, a brand like Garage Force is stronger than epoxy because it is resistant to stains and damage.

Start Your Garage Renovation Project Today

If you want a new garage, you should not let anything stop you from having the space of your dreams. With this guide, you can have a great garage renovation, and increase your home value and curb appeal.

Would you like to learn more about how you can renovate your home to make it more appealing to potential buyers? Take a look at our site for all of the advice you will need to get started.

It’s a great time to be shopping for a new home. Homes are near historic lows in terms of price, meaning you can get a great home for not much money.

If you are in the market for a new home in Los Angeles, you’ll need to know about the real estate market to make the best choice for you.

Keep reading for the things to know about the Los Angeles real estate market.

1. Why Now Is a Good Time to Invest in Los Angeles Real Estate

Los Angeles has long been a desirable place to live, and as a result, property values have always been high. However, in recent years, the cost of living in LA has increased dramatically, making it difficult for many people to afford a home.

With the current pandemic, many people are leaving the city in search of more affordable places to live. This has created a buyer’s market in LA, which is a great opportunity for investors.

Property values are lower than they have been in years, and there is a good chance that they will continue to decline as more people leave the city. This makes now a great time to invest in LA real estate. Get in touch with SellersAdvantage to know more.

2. What Types of Los Angeles Real Estate Are in Demand

There is a lot of demand for LA real estate, especially for luxury and high-end properties. Many people are looking for homes in upscale neighborhoods like Beverly Hills, Bel Air, and Hollywood Hills.

There is also a lot of interest in properties near the beach, such as in Santa Monica, Venice, and Malibu.

Venice is especially popular right now, as it is undergoing a major renaissance. Downtown LA is also seeing a lot of interest, as more and more people are moving to the city center.

3. Where to Find the Best Deals on the Los Angeles Real Estate Market

There are several ways to find the best deals on CA. One of the best ways is to search online for foreclosure listings. These listings can provide you with a great deal of information on properties that are in foreclosure and may be available at a discount.

Another way to find great deals in LA is to contact a real estate agent who specializes in foreclosures. These agents can provide you with listings of foreclosed homes as well as information on how to purchase these properties.

Finally, you can also search for short sales. These are properties that are being sold by the bank for less than the outstanding mortgage balance. Short sales can be a great way to get a great deal on a property, but they can also be a bit more complicated to purchase.

Investing in Real Estate Market

There has never been a better time to invest in the Los Angeles real estate market. The market is booming and there are plenty of opportunities to make a great return on your investment. If you’re thinking about investing in LA real estate, now is the time to do it.

Did you find this article helpful? Check out the rest of our website for more great content!

Did you know nearly half of the home buyers use a flat fee to sell their homes?

With the coronavirus pandemic, buyers and sellers alike have had to adjust to new ways of working. Embracing change and embracing safe business models, it’s created a new era of success for real estate.

If you’ve been wondering how does flat fee realty work, we can help. Keep reading for everything you need to know about flat fee listings.

So How Does Flat Fee Realty Work?

Flat fee realty is a type of real estate company that charges a set fee for its services instead of a commission based on a percentage of the home’s sale price. This set fee is much lower than the traditional real estate commission, making it a more affordable option for sellers.

Flat fee real estate companies often offer a la carte services, so sellers can choose which services they need and only pay for what they use. This type of company uses a network of independent real estate agents to list and sell homes, which allows them to keep their overhead costs low and pass the savings on to their clients.

How You Can Save Money with Flat Fee Realty

When you work with a flat fee real estate company, you pay one upfront fee to list your home on the MLS. This fee is typically a fraction of what you would pay a traditional real estate company. The savings offered by Flat Fee Realty can be significant and can make a big difference for home sellers.

Furthermore, you have the option to sell your home yourself. It is a novel and innovative method of selling property that allows homeowners to sell for a low, predetermined price. This pricing system is designed to save homeowners money on costly real estate fees, and it is growing in popularity as more people look for methods to save money on their purchases.

A Flat Fee Realty Requires Less Commitment

In general, flat fee real estate means that a real estate company agrees to advertise a property for a predetermined sum, regardless of how long it takes to sell it. This type of arrangement might benefit both the buyer and the seller because it usually requires less commitment on both sides.

If the seller is unhappy with the outcome, they are not compelled to continue dealing with the real estate company.

Real Estate Agents Use the Latest Technology

Many flat fee realty companies are now using the latest technology to help their clients find the perfect home. This includes online listings, virtual tours, and even drone footage.

This allows buyers and sellers to get a better idea of the homes they are interested in and makes the process of finding a home much easier.

You just have to look for a flat rate realty that is the ideal match for many people in the area who want to maximize their real estate chances.

What to Expect When Using Flat Fee Realty

As you can see, flat fee real estate can be a great way to sell your home. It’s important to do your research on how does flat fee realty work to make sure you are getting the best deal possible.

Be sure to ask lots of questions and get everything in writing. When you are ready to sell, flat-fee real estate can be a great option.

Check out our other articles where we can tell you more about flat fee realty and how it can help you build your own business in the lucrative industry of relocating people in your city.

Investors bought 22% of homes for sale in January 2022. Inventory is still low and demand is still high for real estate sales.

There’s an impact on the rental market. Since home values are high, many people are priced out of the market. They have to rent instead.

That’s driving rental demand and prices up. Investors want to take advantage of this rental market, but they want to be fair to tenants.

If you find yourself in the same situation, it helps to know how to price a rental property.

Fortunately, you’re in the perfect spot. Keep reading to learn about rental property pricing and how you can become great at real estate investing.

The Percentage Rule

Before you start real estate investing, you have to perform an assessment of the property. You need to know if you can make a profit.

Investors use a 2% rule, which says that if you can rent a property for 2% of the purchase price, it’ll generate income. Other investors set rental property pricing based on 1% or 2% of the value.

This is a general guideline, not a hard and fast rule.

You can purchase a property for $100,000 and rent it for $2,000 a month. Your property might have astronomical insurance rates, property taxes, and homeowners’ association fees.

The next thing you know, you’re not profitable.

Use the percentage rule as an estimation tool. Then calculate how much it costs to maintain and own the property. Figure out how much profit you want to make and set the rental price accordingly.

Conduct Market Research

Investors have to balance their need to generate income with what the market can bear.

You might have a property that needs to generate $3,000 a month, but the rental market for similar properties maxes out at $2,700 a month.

Look at the amenities and features of your property. Look at comparable rentals in the area and determine how much they rent for by square footage.

You can work with a property management company to provide a rental market analysis. For example, vividpropertyperth.com.au offers investors in Perth a rental property appraisal.

Diversify Investment Strategies

Once you set the price for your rental and you start to see income, you can think ahead. Should you purchase another rental property or not?

The best rental investing advice says to diversify your investments. This protects your income if the rental market drops suddenly.

Real estate investing in different cities is one way to diversify. You can have a mix of commercial and residential properties. Investing in real estate investment trusts along with rental investing is another way to diversify.

How to Price a Rental Property

There’s a lot to consider when rental investing. Setting rental property pricing so it strikes a balance between your needs and the market is a fine art.

These tips covered rental property pricing and how to protect your real estate investments.

Now that you know how to price a rental property, check out the blog for the latest real estate market news and insights.