Ck Dine And Learn 06 08 11

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Bill McMannis\' recent Property Management presentation at Pine Brook Farm\'s Dine and Discover

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Ck Dine And Learn 06 08 11

  1. 1. 501-B College Street Asheville NC 28801 (828) 255-0032 www.CastleKeepers.net [email_address]
  2. 2. Is Now The Perfect Time To Become a Landlord? Highest Demand for Rental Properties in a Decade Renters Who Had Roommates Are Splitting Up and Renting Their “Own” Place Formerly Unemployed Who Now Have Jobs Are Moving But Must Rent Rather Than Buy Or Simply Prefer to Rent Wall Street Journal June 16, 2010
  3. 3. Is Now The Perfect Time To Become a Landlord? Low Real Estate Prices Coupled With Low Interest Rates Allow For Significantly Reduced Expenses When Purchasing Investment Homes Leverage Purchases, Allow Rental Income To Cash Flow and Later Cash Out When Values Inevitably Rebound?
  4. 4. The Process for Putting Your Home Up For Rent
  5. 5. <ul><li>Ideally, the property manager visits the home and collects information on the property including: </li></ul><ul><li>Age of Home </li></ul><ul><li>Size Including Square Footage, Bedrooms and Baths </li></ul><ul><li>Specifics Such As Air Conditioning, Heat Source </li></ul><ul><li>Neighborhood </li></ul>
  6. 7. <ul><li>CMA: Comparative Market Analysis </li></ul><ul><li>Similar to the Process of Determining Sales Price </li></ul><ul><li>Ideally Includes Properties That Are Currently Rented or on The Market in Your Neighborhood </li></ul><ul><li>Adjustments Are Made Based on the Specifics of Your Property </li></ul><ul><li>Ideal Asking Price for The Home Is Determined </li></ul>
  7. 10. Practical Example A Buncombe County Home Valued at $180,000 would lease for between $975 and $1125 Per Month If the Home Leases for $1050 the Monthly Cash Flow Would Be $934.50 ($1050- 11% Management Fee)
  8. 11. Annual Cash Flow
  9. 12. Three Year Projection
  10. 13. Sell Now or Rent and Sell Later
  11. 14. <ul><li>Items That Matter Most </li></ul><ul><li>Heat Pumps are currently the most preferred heat source, followed by gas forced air. </li></ul><ul><li>Boilers, electric baseboard heat and fuel oil will intimidate some potential renters </li></ul><ul><li>Newer, clean kitchen appliances including microwave and dishwasher will get the home renter sooner </li></ul><ul><li>Providing the washer and dryer is very desirable </li></ul>
  12. 15. <ul><li>Allow Pets? </li></ul><ul><li>60% of Potential Renters Have Pets </li></ul><ul><li>You May Increase the Security Deposit or Charge A Non-refundable Pet Fee to Renters With Pets </li></ul>
  13. 16. Marketing the Home #1 Source for Renters The Internet www.CastleKeepers.net RentalHomePros.com MyNewPlace.com HotPads.com Tenant.com HomesToRent.com OLX.com Vast.com GoogleBase.com Craigslist.com RentalAds.com MySpace Classifieds Military.com Classifieds Lycos Classifieds Wal-Mart Classifieds RentLizard.com RentedSpaces.com Cazoodle.com CollegeClassifieds.com Condo.com
  14. 17. #2 Source for Renters Signage
  15. 18. <ul><li>Property Manager’s Duties </li></ul><ul><li>Market Homes to Potential Renters </li></ul><ul><li>Screen Prospects for Creditworthiness and Criminal Background Checks </li></ul><ul><li>Handle the Lease and Other Paperwork </li></ul><ul><li>Collect Security Deposits and Monthly Rent Payments </li></ul><ul><li>Generate Monthly Statements and Issue Checks to Property Owners </li></ul><ul><li>Coordinate Maintenance and Repairs at Property Owners’ Direction </li></ul>
  16. 19. 501-B College Street Asheville NC 28801 (828) 255-0032 www.CastleKeepers.net [email_address]

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