Keys to Success for the Modern Landlord

Keys to Success for the Modern Landlord

Being a landlord can be a rewarding as well as a scary experience. There are many benefits to renting out your property, and there are just as many pitfalls to avoid. Simply put, it is not something that you want to run into headlong.

You have much to think about to prepare for your life as a landlord. While you will learn much from your own experience, it is always better to know as much as possible beforehand and learn from others’ mistakes.

Keep your eyes open to unique revenue opportunities for your property

One of the most important things to remember about being a landlord is think outside the box. While renting property to a tenant is the primary goal of a landlord, you have other ways to capitalize off of your property.

If you have extra space on your property, then you could consider letting a contractor put a billboard or even a cell phone tower on your property. You could install solar panels on your property. As your solar panels draw in solar energy, they store this energy like electricity silos. You can actually sell any unused electricity back to the grid for a profit.

Also, you could use your extra land to take advantage of the growing health-consciousness in the food industry. Restaurants are starting to adopt the farm-to-fork model to deliver their customers the freshest and best fruits, veggies, and herbs. Your extra property could be a gold mine if your garden becomes a well of freshness for local restaurants.

The key is to diversify your streams of income. That is a practice that is applicable to all business interests but is rarely utilized by landlords. You owe it to yourself to monetize your investment property in every way possible.

Be serious about your rent

As a landlord, the quickest way to find yourself taking cat naps at a sleep disorders institute is to be lax about collecting rent. While you want to be understanding and amicable towards your tenants, it is important to establish and maintain a business relationship with them. You need to establish a balance between being a hawk on the watch for the rent and being understanding about extenuating circumstances.

It is important to work with tenants who communicate any issues with rent before the time that the rent is due. However, if you have tenants who fail to pay their rent or make you aware of any difficulties, then it is time to start the eviction process.

Starting the process will be a wake-up call to your tenants, one that you never have to make again. Hopefully, after this it won’t take more than a hearty breakfast and whole bean coffee to wake them up. However, this only works if they know that you are serious about your rent and your property.

Make use of technology

Another key to being a successful landlord is using every tool at your disposal. Technology has come up with solutions for just about every business venture, renting property included. You can find free landlord software available to help you screen tenants, provide free rent applications, and even help you figure out what your property taxes will look like for your rental property.

Before you begin renting out your property, make sure that … READ MORE ...

Common Benefits of Metal Roofing on Commercial Property

Owning and maintaining a piece of commercial property can be made easier when you focus on quality construction materials. One of the easiest ways to improve the quality of your building is by installing a metal roof. Metal roofing has become increasingly popular over the years, for several different reasons. Commercial property owners are turning to metal roofing to cut costs, improve on the design of their building, and also to prevent the need for expensive repairs. Today, we are going to be taking a deep dive into the benefits of commercial metal roofing as well as the ease by which you can order a most effective metal roof repair clearwater fl has to offer. By the end of our discussion, you’ll be ready to order a metal roof installed on your building.

Common Benefits of Metal Roofing on Commercial Property

Benefits of Metal Roofing for Commercial Properties

Whether you currently have a metal roof on your building or you are merely considering installing one, you’ve come to the right place. Metal roofing has become one of the most popular roofing options for warehouses, industrial buildings, and commercial storage spaces. Metal roofing is known for being easy to install and easy to maintain, but what other benefits does the roof option provide to you? Let’s explore these benefits below so that you will know what you are getting when you take the plunge to buy your next metal roof.

1) Simple Repairs – First and foremost, metal roofing is incredibly durable but it is not invincible. Fortunately, your metal roof will be significantly easier to repair than other roofing options. With a contractor that has been trained to work with metal roofing on your side, you’ll be able to quickly diagnose and address potential issues. In doing so, you’ll be able to keep your roof in great shape while also protecting everything below it.

2) Durability – While your metal roof may need the occasional fix, for the most part, your roof will be relatively maintenance-free. Metal roofing is notoriously impervious to common roofing problems. Thanks to the strength of the material, you can expect to run into very few signs of wear-and-tear. When you do run into roofing problems, a local contractor will be able to take care of the problem for you. Your metal roof may not be invincible, but it is pretty darn durable.

3) Environmental Benefits – One of the most important advantages of a metal roof is how it can positively impact the environment. Metal roofing typically will consist of up to 95% recycled materials. When compared to shingle roofing, which contributes up to 20 billion pounds of waste per year, metal roofing looks like the most environmentally friendly option available to you. Along with this environmental benefit, you’ll find that your roof has a lower installation cost, as well. Metal roofing may not be perfect for every application, but the choice makes sense for commercial properties. If you need to install a new roof on your warehouse or commercial building, consider a metal roof.… READ MORE ...