Hope for your financial life and beyond

Why Millennials Are The Best Renters and How Landlords Can Attract Them

The number of people renting properties instead of buying them is still at a historically high level. Increasing house prices and stagnating wages make it more difficult to put together the necessary down payment. That down payment is important if you are looking to avoid extra costs of homeownership like mortgage insurance.

This leave many people in a position it makes the most sense to rent. And as a property investors, that is good news for you. It provides an excellent opportunity to make money as a landlord because it’s easier than ever to find tenants. 

making a bedOf all the age demographics, millennials (defined as young adults between 25 and 40 years old)  are the group most likely to live in a rental property right now. They are also set to become the largest living generation in a matter of years, so if you are investing in a rental property, they are your target market.

Unfortunately, a lot of landlords do not realize this. When they are buying and renovating properties, they don’t take specific steps to attract millennials. So, if you want to maximize your profits and reduce any issues with tenant turnover, these are the best ways to attract millennials. 

[Read more…]

5 Practical Ways to Save Money When Renting an Apartment

Renting an apartment can be quite a challenge. Whether you are moving out of the house for the first time, trying to cut housing expenses, or simply looking for a short-term housing option, there are many things to consider. Perhaps front and center of all the considerations is price point. How will you fit the apartment expense into your monthly budget?

renting an apartmentLiving on a budget while renting an apartment requires planning and dedication. From drafting the monthly spending plan to minimizing your expenses, there are many details to finalize if you want to save money. 

However, with careful planning and a touch of financial savviness, you can save money without sacrificing your lifestyle. To help you with that, here are 5 practical tips that will help you save money when renting an apartment. 

[Read more…]

5 Tips for Negotiating Residential Rental Disputes

Nobody envisions a major conflict when they sign a lease, whether they’re the landlord or the tenant. The relationship always starts out with high hopes and positive feelings. However, it can quickly turn sour depending on how both parties act and communicate over the course of the living arrangement. You could find yourself in the middle of many residential rental disputes.

It’s in the landlords’ best interest to remain responsive to tenant complaints. It’s also in the renters’ best interest to obey the terms of the contract and notify ownership of any issues in a reasonable manner. Proper communication and understanding of situations is the best path to landlord-tenant harmony.

However, most likely disputes will arise. What are some courses of action landlords can take to negotiate residential rental disagreements and get back on track with business? Here are 5 suggestions that landlord and tenant can use to handle residential rental disputes.

[Read more…]