Home Prices On The Rise

Home Prices On The Rise

Home Prices On The Rise

Posted on 30. Oct, 2013 by  in News

According to the S&P/Case–Shiller home price index U.S. single-family home prices rose in August and posted their strongest annual gain since February 2006. Prices were up 12.8 percent compared to last year and exceeded economists’ expectations of 12.5 percent. Despite higher mortgage rates in recent months the report suggests that the housing market continues to recover.

“It’s good to see the pace of home value appreciation moderate, allowing the market to get back into a more sustainable balance and not topple over,” said Stan Humphries, chief economist of home price tracker Zillow.com. “Home value appreciation is better when it’s boring, and we expect to see continued moderation.”

Read More: http://money.cnn.com/2013/10/29/news/economy/home-prices/index.html

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WHY ROCHESTER?
CNN Money ranks Rochester, NY #3 on their “Best Places to be a Landlord” list.

See it by the numbers HERE!  Criteria such as median home price, average rent and monthly up-keep make Rochester, NY a solid investment year after year.

 

If you are an investor looking to build your Real Estate portfolio, look no further than Rochester, NY and Kendrick Property Management.

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Not only were the ideas perfect for this property and the referred businesses great, but the work was completed on time and within the estimate that Jim presented …” 

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Keeping Your Tenants

Keeping Your Tenants To Produce More Profits

Posted: 21 Oct 2013 10:45 AM PDT

In the real estate game, when we are talking rental properties, one of the most important things that will help you earn more money is long term tenants. The longer the tenant stays, the lower the number of unit turnovers you will have. Turnovers cost money! So as owners, we should do everything possible to keep our tenants – and yes, occasionally there is a bad one we might unfortunately have to “fire” and let vacate! So, let’s talk about a few ways to help the cause!

First, when a unit turns over, even if you have a new tenant whose lease starts the next day, it still costs lots of money. If you manage the rental yourself, you have to advertise, take calls, show the property, write up a lease, get it signed, collect a security deposit, deposit it in the bank, etc. This all takes significant time and energy – and time is money! Alternatively, if you have an outside party do it, it’s usually one-half to one full month of rent you need to pay as a commission.

In addition to the leasing process, you need to inspect the property before the prior tenant leaves, schedule the unit and carpets to be cleaned, have your handyman go in and paint, patch, repair, etc. and you must finalize the old tenant’s lease and security deposit. Then you’ve got to do a move in with the new tenant, document the condition, exchange repair requests from them, coordinate utilities changeovers, etc. What a pain!

All in all, you’re probably going to spend several days of your time handling all these issues, probably a whole week of time or more once all is said and done.

Wouldn’t it have been easier to just keep your existing tenant in place?

Most apartment building surveys find that the main reason people leave their existing rentals is because of poor management. So that’s not being attentive to their issues, not fixing stuff that breaks, blaming the tenant for broken items, etc. So tenants get frustrated and find a better place to live.

Therefore, to keep your tenants as long as possible, which also reduces your hassle factor on rentals, you need to treat your residents with respect. And, keep your properties updated and in good shape, repair items when they break and don’t point the finger at your tenants, handle issues professionally, and don’t let them even consider leaving! To further your devotion and appreciation of them, you might also consider minimal, if any, rent increases for great tenants who are responsible, take care of your property, and work with you if there are issues.

The longer your tenant stays, the more money you earn, there couldn’t be any more simple math than that! The better you are as a landlord, the longer residents will stay and keep those rental checks arriving on time. Good luck.

Leonard Baron is America’s Real Estate Professor – his unbiased, neutral and inexpensive “Real Estate Ownership, Investment and Due Diligence 101” textbook teaches real estate buyers how to make smart and safe purchase decisions. He is a San Diego State University Lecturer, blogs at Zillow.com, and loves kicking the tires of a good piece of dirt! More at ProfessorBaron.com.

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After doing your property inspections, rehabs, and remodeling for the last 30 years, Team Kendrick is proud to announce the opening of our
We’ve combined our knowledge of construction and investment properties with a comprehensive software system to offer our clients a full service solution for your investments.
The same trust and integrity you’ve grown accustom to from Team Kendrick, now managing your investment from A to Z.
HOW WE DO IT

Here’s a brief overview of how we pull it all together for our investors.  We think you’ll agree, the benefits are clear.

 

Initial Inspection:  Let us inspect the property before you make the purchase. We’ll give you a report about the neighborhood, rents to expect, and the overall condition of the property. If it seems too good to be true, we’ll tell you!  We want your investment experience to be a positive one. Buying properties in bad areas that need major rehab is never a good experience…   Marketing:  Right from the start our web-based propertyware system is working for you.  Vacancies are filled fast and efficiently using over 100 rentals sites simultaneously. Through online applications, background checks, and YouTube videos of your units, the leasing process is expedited.   Increased Resident Retention:  If your tenants aren’t happy, they’re not going to stay…With our on-line tenant portals, they can communicate faster about maintenance concerns, pay their rent, and receive mass updates from the management team. Happy tenants are happy to pay their rent!   Faster maintenance:  Our in-house maintenance crew is notified electronically when a work order enters the system. They have the tenant’s information, along with a full description of the items to be completed. They can tackle the problem quickly since the owner was already notified and approved the work to be done.   Electronic Statements and Payments:  With a few key strokes, your statements are delivered for month-end reporting and payments are delivered directly to your bank account. And because the system keeps you informed when work orders need to be addressed throughout the month, there are no surprise fees.   Contact Us Today for more information or visit our website Kendrickpropertymanagement.com

 
LATEST REHAB
Yields 45% Rent Increase, Better Tenants.
From acquisition and inspection of your investment, to a cash flowing unit with a qualified tenant, we stand behind the term ‘management’.
You can count on Team Kendrick to assess a new purchase AND improve it’s rent potential.  Good locations and quality rehabs bring HIGH paying tenants.  Check out our latest rehab with a 45% rent increase and a happy new tenant…
45% Rent Increase After Rehab

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    “ Not only were the ideas perfect for this property and the referred businesses great, but the work was completed on time and within the estimate that Jim presented …”                                    see more
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  Rochester, NY 14626   585.880.4324 p
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Negative Cash Flow

Negative Cash Flow Got You Down

Are you tied of receiving monthly reports with negative cash flow from your Property Management Company?

  1. Maybe they are part of the problem.
  2. Do they just sit back and deduct their fees from your rental income?
  3. Are they proactive with helping you turn your portfolio around or are they happy to sit back and receive checks from section 8 and DSS?
  4. Are you constantly getting negative reports for C of O or city inspections?

If this sounds like you, Maybe you should give Kendrick Property Management a call.

Kendrick Property Management has evolved from Team Kendrick, we are general contractors, rehabbers, and Real Estate Investors ourselves.

We work with our clients to determine what is the best direction to pursue for them to achieve their investment goals.

  1. We will evaluate their portfolio to see what course of action to take to turn their negative cash flow properties into positive cash flow. If liquidating them is the answer then we can help them move them off their books thru are rent to own network. In most cases they can receive positive cash flow while eliminating the overhead. With out selling them at wholesale prices for a big loss.
  2. If updating the properties and placing new tenants in them is the answer then we can put our rehab team to work getting them ready for re-rental.
  3. Once all the negative problems have been solved we will help our clients start building a higher quality portfolio.
  4. Since we buy and sell properties ourselves we have wholesalers sending us properties to look at on a daily basis. We check them out and then give the information to our clients that are looking for more properties.

 

If you are just getting started in rental investments contact Kendrick Property Management and let us help you get started on the right path to profitable rental investing.