Rent Control, Managing Rentals and the GRM

http://www.dreamstime.com/stock-photography-house-keychain-image16075682Renting out your apartment can be a cost-effective way to earn a few extra dollars. So, if you have an extra room, feel free to find someone to live there. However, as you become a landlord, there is one thing you will need to learn to live – rent control and the gross rent mulitiplier.

What is rent control?

Rent control is more or less like price control. Typically, the government (federal or state) will impose a special law that limits how much you can raise rents on “existing” landlords. The program is common in densely populated cities where it may be difficult for these tenants to find affordable housing. It could also be necessitated by a calamity or a terrorist attack in the city that destroys a large number of housing units. Read more

15 Tips to Organize your Small Apartment

Organize-small-apartmentSo you have found a place to live but its small; you need help to organize your small apartment. There are some tips and tricks that can be used to make your space attractive and functional. Start by clearing out unnecessary clutter by creating piles to throw away, sell, give away or donate. Once that is done, assess your space needs/wants and keep an open mind about the actual furniture, corners, walls and closets that you have.

15 Tips to Organize your Small Apartment

1. Use walls to create more rooms. Painting an accent wall can add style to your rooms but color can also be used to divide a room into an extra space such as a defined living room and sleeping area. Read more

Owning a Student Rental Property

student-rental-propertyStudents from out of town need somewhere to live and if your property is in a University/College town you have an opportunity to fill a student rental property. No doubt you have heard horror stories about wild college house parties, noise complaints and property damage. The irony is that most students are reliable and trustworthy tenants and should be considered a viable source of income. There are, however, some key considerations to be made before renting your property to students. Read more