Are you planning to invest on a good rental property? there’s a lot of criteria that will have to be looked through and considered. You’ll need to consider the type of residence the investment property would be, the neighborhood, and other aspects like school zones and crime rates.

 Where to buy, what type of investment property to buy, and what a good return on an investment property is, are also crucial factors to determine the difference between a profitable investment and a bad one.

WHERE:

Real estate is Location-dependent and so knowing where to buy a property plays a huge role on the success of the investment. Because the market can vary in degree of demand, most often hot in one town and cold in the next, The location of a property is typically considered the single most important factor in determining its value.

Look for a property in a good neighborhood, close to jobs and local amenities. Families with kids also prefer properties in a good school district. All of these factors will likely increase the value of your rental over time – as long as these factors stay the same.

WHAT:

What type of rental property to purchase is also a very important factor in choosing which property to buy. There are a multiple  ways to make money in real estate: You may choose to invest in a commercial property, industrial property, an entire apartment complex or a single-family home.

If you’re new to Real estate investing, The single-family home is the simplest way to get started. Many experts will also say it’s the best simply because it’s easier to upkeep, there are higher quality tenants, Faster appreciation, Affordable price points, and easier financing.

HOW:

How to Analyze Investment Properties is important when you’re out looking at potential investment properties. To put it simply, Analyzing the properties and checking for things like location and price plays a huge role in your Real Estate Journey. If you would like to learn more about investing in rental properties, as well as other real estate investing opportunities, send us a message at support@vikasrealtygroup.com

There are many different kinds of tenants in the Rental World. Each with different wants and needs and, each with different preferences of features in a home. We all want what is best for us, and the same goes with choosing a Rental Property. Although we have different preferences and different views and opinions on which properties are most suited for us, we do also share a universal list of things and features we’d like to see in the Rental Property that we choose. Here are some of those:

1. Neighborhood and Location
Location is the #1 priority for most tenants. The neighborhood and location in which a property is situated in will determine the type of tenants that will reside in the area. Rental Home seekers look for rental properties that are close to work, school, groceries and entertainment, depending on their priorities. It’s all about lifestyle quality, and a great tenant is often willing to pay more or overlook less desirable aspects of the rental unit if the property is in a great neighborhood. Determine the priorities you want and need in a home and its location, and pick a Rental property that is close and easily accessible to them.

2. Safety and Security
Safety goes hand-in-hand with location- No one wants to live next door to a hot spot of criminal activity and unsafe spaces. A safe environment is a powerful motivator for tenants like you. That being said, It is essential to research crime statistics when considering moving to a new property that is in an unfamiliar area. You should pick areas with low crime rates as well as properties that have a working security system with locks everywhere.

3. Quality School District
For tenants with school-aged kids, the school district is a major priority. Parents always want what’s best for their children and so, more often than not, they will try to look for Rental Properties that have very good School Districts and quality education. If there aren’t any good schools nearby and you have children who go to school, You might want to choose a location that does.

4. Amenities
In this fast paced world, convenience is one of the top priorities for many people. Tenants would opt for areas and locations with Amenities that are easily reachable and speedy to get to. Rental properties that are close to parks, restaurants, gyms, public transportation links, and other amenities are usually the top picks for potential renters.

5. Outdoor Space
A private backyard, lawn, balcony or even a nearby park is an incredibly attractive feature to many rental home seekers. Properties with a space to enjoy the sun and outdoors attract many home rental home seekers like you.

6.  Trustworthy Landlord
In an ideal landlord-tenant relationship both parties should be courteous, cooperative, and respectful. tenants should want to know that they are not being lied to about the property they are interested in and that they can trust their landlord to keep future promises. if you as a tenant is happy living in the property, then you’ll more likely renew the lease and be open to paying a higher rental rate.

If you are currently renting a home, and your lease is almost up, you may be pondering this very dilemma – Staying or Leaving. The decision doesn’t have to be complicated.
Before making the big decision here are some helpful questions to ask yourself:

1. Is your landlord responsive and trustworthy?
Having a responsible and responsive Landlord is key to a smooth stay.
Does your landlord respond to emails, phone calls and texts in a timely manner? When you have important concerns regarding the property , do they schedule and call as soon as possible? These are questions you should ask yourself before renewing your lease. If the answer is no, then you should consider finding a new place to live.

2. Can I afford a better Rental?
if you can afford a nicer rental or one in a better location, you should consider making the move. If you’ve signed your lease years ago, then there’s a pretty good chance that your financial situation has improved over the years. So take a look at your finances & budget and reassess what you can reasonably afford before renewing your current lease. 

3. Is the neighborhood safe?
Do you feel safe walking home at night? Has your current area experienced break-ins in recent times? How are crime rates in the area? These are all questions to consider when assessing the safety of your neighborhood. If you feel unsafe on a regular basis, then we strongly recommend considering a move to a space that feels safer and comfortable to you.

4. Is the rental rate within your budget?
say you recently received a raise or lost a job. Whatever your financial situation is, you should make sure that your current rental fits your current budget. If you notice that you’re having a hard time and scraping by every month, struggling and wishing you had extra money for activities like travel and food, then you should consider looking for a property thats cheaper and within your budget.

5. Can you afford to move out?
Moving will cost you a lot of big bucks . If you decide to break your lease, you’ll have to pay for moving expenses like boxes and supplies, transportation, labor assistance, and even a DIY move with a truck rental that could cost you a few hundred bucks, depending on the distance and length of time needed. Make sure you can afford these moving expenses before deciding to move out. 

6. Is leaving worth the hassle of moving?
From supplies to planning, moving to a new rental can be expensive and time consuming. You’ll have to spend hours of your personal time looking for a new place to rent and possibly, new roommates as well. If you decide not to renew your lease, make sure the move is worth the hassle.

7. Does this rental still fit your needs?
Think about it: does this rental still fit your lifestyle, budget and work commute needs. While it may have been a perfect fit when you first signed the lease, it might not be conducive to your life now.

Not renewing your lease?

• Make sure you give your landlord proper notice. Review your lease for termination details. If you decide not to renew your lease, you may need to give your landlord at least 30 days notice so they can find a new tenant.
• Ask questions before signing a new lease.
• Raise concerns and clarifications before signing the new lease as well.

Moving out?

If you’re ready to leave your current rental, make sure to hire all the right people to help you move hassle free. To find a trustworthy company that can help you check out Our team’s reliable and convenient property management. By choosing Vikas Realty Group, you can rest assured that your move and rental concerns will be in good hands.