Screening tenants is absolutely one of the most important things you can do when you’re renting out a property. Your single family home is worth hundreds of thousands of dollars, and you’re entrusting it to a tenant. This is the greatest amount of risk you can take on.With a single family home, you don’t have a residenti...
The title of this blog – Proper Financial Control for a Kansas City HOA – sounds like a mouthful, but it means is your HOA agent properly managing the funds in your HOA accounts? Typically, HOAs will have two accounts; an operating and reserve account. You need to have faith that your management company is following proper a...
Picking a property management company in KC is probably one of the biggest decisions you can make. It’s even more important than picking tenants. There’s a lot of trust in handing your property off to a management company. This is a multi-hundred thousand dollar asset, and you’re handing over more than the keys. You&rs...
For many of our Kansas City property owners, tenancy and the quality of tenants is a concern and something a landlord needs to consider. A bad tenant is not like fine wine – it doesn’t get better with age. For most investors, a bad tenant should be ripped off quickly like a Band-Aid. You want to evict the tenant immediately ...
There’s a buzz phrase that goes around with all the Realtors in the springtime, and that is: “now is a good time to sell”. As professional investors and property managers, in our experience, it is never a good time to sell. In fact, holding real estate as part of your total investment portfolio is one of the best inves...
HOA maintenance is something that most HOA managers only think about when there’s an issue. In many cases, maintenance is an extra service that just adds to their daily burden of providing good service to the association, so many managers just do the minimum when it comes to supporting the board. Project Management as a Nec...
Single family homes are probably some of the most difficult properties to manage. With multi-family properties, you have the same paint colors and flooring and appliances, and they are all co-located with an on-site maintenance person and a leasing agent. The management is simplified, as well as the ability to organize maintenance. With...
In Kansas City (KC), you need to be aware of which state you’re in when evicting a tenant, because the laws are different in each state. In general, the process is similar. The first thing you must remember when you’re considering an eviction is that bad tenancy, whether in the form of late payments or no payments or somethi...
Kansas City, (KC) unlike other metro areas, has a lot of unique attributes. It has a river dividing it in half, it crosses two different states with different state statutes and laws, and it has a myriad of counties including a consolidated county. There is a lot to know if you’re doing business in the Kansas City area. It’s...
Setting rent is sometimes an art and sometimes a science. Usually, it’s a mix of both, and there are a lot of metrics that are involved. It’s important to be sensitive to the marketplace and the factors that tenants are looking for. The bottom line, and the thing that makes home investors successful, is to buy and rent homes ...
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