BAP site syndication http://www.kathymm.com 2013-05-22T20:55:34+01:00 http://www.kathymm.com http://www.kathymm.com/images/M_images/ text/html 2012-05-14T09:40:38+01:00 http://www.kathymm.com http://www.kathymm.com/keepingrentersadvice.html Keeping Renters – Advice to Investors in London Ontario As a landlord and real estate investor in London Ontario, you will always be facing renter turnover and the subsequent loss in income while the property sits empty. Keeping your tenants happy and satisfied can extend their stay and reduce turnover. Here are a few simple tips to follow to help make them happy with their living conditions. A) Be there for your tenants: Proactivity is important when it comes to building maintenance and upgrades. If your tenants are unhappy with a certain area of their home, getting it repaired as quickly and efficiently as possible will help build trust in you as their landlord. Maintaining a clean and tidy building will build a strong and trusting relationship between you and your renters, and create a sense of pride in their choice of home. B) Establish the rules up front: A list of specific conditions and expectations that the tenants need to follow should be presented to them prior to the signing of the rental agreement. Hand over a list of certain rules of conduct you expect them to follow as tenants, along with the responsibilities you plan to follow as the London property owner. This will make things clear from the start, before the tenants even move in and will help prevent issues from occurring later on. You will find people happier and more comfortable living in your building once they know what exactly is expected of them and of you. C) Respect your renters: Respect of your renter is the key to your success as a landlord and real estate investor in London Ontario. Respect your tenants and they will respect you in return. Stay in communication with your tenants, even if you do not live in the same building. Offering a phone call once or twice a month to see if they have any problems will develop a good communication between you and your tenants. A healthy and honest relationship can be established right from the start. D) Know the law about who you can reject as a tenant: Finding good long term tenants makes your life easy as a landlord. However, the Landlord Tenant Act and the Ontario Human Rights law means you cannot turn down potential renters just because you have a bad gut feeling. Knowing who and why you can reject somebody can save yourself a lot of legal headaches. Summary: Maintaining the repairs and cleanliness of your property will satisfy your tenants and create an honest relationship with good communication. Respect them for paying their bills on time and following your code of conduct, and they will offer you respect in return, by staying in your building longer and increasing your overall revenue as a property owner in London Ontario. There are a lot of great people in the world, and once you are satisfied with a tenant, do anything within your power to keep them happy! text/html 2011-08-03T17:15:17+01:00 http://www.kathymm.com http://www.kathymm.com/childhousedownpayment.html Helping Your Children with a Down Payment on a Home When first time home buyers are ready to buy a new house or condo but have not saved up enough money to cover the down payment the first people they turn to for the money are their parents. Often parent are very willing to help out their children in this manner and do so without first contemplating whether it is wise to help their child make a down payment in London on their first mortgage. There are some important things you must consider when deciding to lend or give your child a lot of money to help them achieve the goal of owning a first home in London Ontario. 1. Keep your retirement goals in mind. This will help you decide how much you can comfortably give to your child, whether you expect to be paid back and how long your child has to repay the money given. It is important to make an objective decision regardless of your desire to help your child. 2. There are a lot of personal and moral issues surrounding this topic. It used to be a “given” in the past that a down payment could be put together if enough effort was put into it. Nowadays, things have changed and the opportunity to get together a full down payment may not be possible for everyone. It may be time to readdress this issue and come up with ways to help your child get into the London Ontario real estate market. 3. If the amount needed is large and puts your retirement goals at risk you should involve your lawyer. You lawyer can draft a personal loan agreement that basically shows the agreement made between you and your child and the terms of the loan. This will keep things more formal with the loan and act as a reminder to your child that the loan needs to be repaid. Once your child has purchased his or her first home in London Ontario you should remember to respect the privacy of your child. The home is hers and not yours even if they do owe it all to you. And remember if you found this article to be of value to you please +1 or like it! text/html 2011-06-28T16:31:21+01:00 http://www.kathymm.com http://www.kathymm.com/backyardfastersale.html Using Your Backyard To Create A Faster London Ontario Real Estate Sale When selling London real estate always consider what a home buyer is looking for. I does not matter if the buyer is looking for a 2 storey house, bungalow, or townhouse most buyers want a backyard that provides a lot of space for relaxation, privacy and practical uses. A large backyard may not be the first thing thought of when a home buyer creates a list in things to look for when shopping for a house. It is certainly not in the league of the kitchen for most buyers but it can still play a major factor in the value of your home. A cut lawn, well keep garden and a tidy backyard is always important in establishing good street appeal to potential buyers. Personal items, toys and other backyard furniture should be neat and set up to create a visually appealing yard. A clean backyard means that a home buyer is able to see what they could do with the space and it can even make the difference between closing a deal or not. Backyard potential Having a large backyard can be a goal for some home buyers. Many people are looking for space in the back of their London house for kids, pets, entertainment and privacy. As well, home buyers maybe looking to alternative uses to the backyards current state and could want to create a patio, deck, pool or lounging area. Others may be interested in building a back porch or addition to make their house larger and more spacious. Not everyone is looking for a large backyard, however. Big backyards mean more area for leaves to fall on and more upkeep. Some home buyers are looking for a London home with a smaller yard in the back with low maintenance. If you do have a lot of space in your yard, it should be promoted since most will see it as a positive feature and those in need of a smaller yard should just be visiting the next listing anyway. Shade in the backyard Another factor to consider is shade. While many people enjoy spending a beautiful summer day in London Ontario on the deck of a pool under an umbrella, not everyone has the luxury of a pool deck with umbrellas to block the sun. A large tree in the backyard can achieve the same effect. Having lots of trees and there potential for shade can be beneficial. However there is a downfall, too much shade will block the sun from warming and brightening the area. Also plants and certain vegetation cannot grow when there is a lack of sunlight. As such backyard upkeep is very important, when preparing to sell your home it is important to trim the hedges, branches and other shrubbery that provide shade and create a perfect balance for the space. Having a place to relax when the sun gets very hot is great as long as it does not envelop the entire yard. Another thing to keep in mind is that small bushes can make a space look bigger when compared to the same space with a larger bush. Also, the backyard provides a valuable space for storage or either seasonal items or a way to keep a garage tidy with enough remove for cars. Having a large shed at the side of the London house can be a valuable investment and a great selling feature. Conclusion Your backyard is an area that is property prepared can give you an advantage when selling your home. You should review it to see what you can do to add value to your London Ontario house. Odds are that it won’t take too long to spruce it up and make it a buyer’s paradise. If you are thinking of selling your home give me a call at (519) 649-6900. I would be happy to offer you some backyard staging tips as part of my home evaluation. text/html 2011-05-16T13:17:42+01:00 http://www.kathymm.com http://www.kathymm.com/topdollarhomes.html What Makes Some London Ontario MLS Real Estate Worth Top Dollar? London Ontario homes located in the best parts of the city are often sold for more than comparable homes in other areas of the city and often at a price far greater than the MLS asking price. This is often very frustrating to buyers but there are strong reasons for situation. The main causes that lead to this include: Awareness among sellers Sellers being former buyers have a good understanding of how the London MLS real estate market works and how the value of property should increase in the future. They are also aware of the fact that demand for great addresses is higher than supply. With this knowledge, they will price a premium into their asking price for the best homes, knowing that they will get a buyer. Value London Ontario real estate properties located in the best areas always retain or increase in value at a faster rate than other areas of the city. Old North and Old South will always be in a central area of London. Most buyers are will to compete for these prime locations and often end up paying more than the asking price simply because with time, the value of the house goes up and you can make a tidy profit if you were to sell off the real estate in the future. Good school district One of the key criteria for buyers with school-aged children is access to a good school and if they will need to be bused or not. Lots of prospective home buyers with school-age children (especially those with money) will be willing to pay a hefty premium because of this factor. Amenities Some areas of London Ontario are located close to important amenities suck as parks, swimming pools, community centres, easy access roads, shopping malls and other things. This makes certain areas very attractive to heavy users so certain prospective home buyers are willing to dig deeper into their pocket to own a home in that area. Location is Always Key to the Value of a House or Condo Price The value of real estate is driven by location. The location of a house or condo will determine how that MLS property is priced. If you are looking for a home in a prime location, you join a long list of people looking to own property in the same area. Needless to say, it is the person who offers more for a property that will end up owning the property. Questions or Comments? Complete the form below: text/html 2011-05-08T16:57:23+01:00 http://www.kathymm.com http://www.kathymm.com/fixfliplondon.html Are you looking to make some money fixing up flipping London homes that need some repair? Sign up below You will begin to receive my weekly list of newly available homes that could make you some money!