Credit History
Income Verification
National Criminal History
Eviction & Rental History
Interview the Prospective Tenant
5 Suggestions To Help With Tenant Screening
Tenant Screening
Article by Clear Content Marketing
Monday, October 23, 2017
5 Suggestions To Help With Tenant Screening
Wednesday, October 18, 2017
5 Suggestions to Maximize the Return on Investment of Your Property
We know that a lot of times it’s difficult to pinch your pennies when all you’re trying to do is get your rental property looking nice so you can rent it out. Here are a handful of instructions that we know will up the profit of the property that you own for yourself and for your tenant, which is mutually beneficial. The property management industry can sometimes be hard to navigate. Let us help with following ROI tips.
1. Remember that it’s not a home. You must treat it like a house.
To start out, you must know remember that your rental property is not your own house; the one you live in with your family. Therefore, it isn’t necessary to treat it as such. The people who rent from you are most definitely not going treat your rental property like it’s a house that they themselves own. It’s just not going to happen. So in turn, there’s no point in you as the owner treating it that way. As longs the house looks acceptable, clean, and entreating, you are good. Just stop there. If it doesn’t look bad, it looks good.
2. Provide the renters with a clear vision.
A room that is curated well is so necessary because then when the potential tenants are looking at your property, they will be able to envision in it all of the things that they own that they would be bringing with them when they move in. This is so important and can create an immediate attachment to your place on the part of the tenant. You can do this in a number of different ways, such as ensuring the level of lighting in the rooms (especially the main and largest front room) are looking good and welcoming, making sure that the carpets are cleaned really well, and make sure there’s no dust. You’ll be a step above others in property management industry by following this advice.
3. Before buying new things, try to fix them first
If you’re considering cleaning the carpets yourself, especially if you have multiple properties that you own, don’t do it. It’s worth it to have a pro do it for you, that way you don’t need to spend all those hours and dollars. Many people in property management do this. Getting in there as fast as you can and pillaging the place, making it as clean as possible as quickly as possible tends to be a common behavior of most rental property owners. This is not recommended because it usually results in a subpar carpet installation job and a less than adequate paint job. Develop a relationship with local companies who provide cleaning and repair services and save yourself a lot of effort and a lot less replacing. Fix and clean it first before buying new stuff.
4. The bathrooms and kitchen must be prioritized
In property management, there has been research done that has resulted in the knowledge that really good looking bathrooms and a really good looking kitchen are often the first things to mentally and visually engage an interested renter. If the ones in your rental property are old, you should take steps to remedy that as soon as possible. Even little things in property management help. A more modern thing here and a new appliance there can have a drastic effect. Kitchens and bathrooms are so important. This is one of best things you can do for ROI.
5. Get new lights and tidy up a lot
New light fixtures seem like something trivial to many rental property owners, but they are most definitely not. Lighting is of the utmost importance when trying to get the most ROI out of your property. Bad lighting can diminish the homey feeling of a space very quickly. Also, be thorough in your cleaning. If you want or need to hire a professional cleaning service then do it. If you do it yourself, make sure to use hot water! This tip is important to remember for someone in property management.
5 Suggestions to Maximize the Return on Investment of Your Property
ROI
Article by Clear Content Marketing
Wednesday, October 11, 2017
Why do I Want a Property Manager?
Before you make a decision about hiring a property manager, you will want to carefully review the pros and cons of managing your property yourself. The pros of managing your property yourself are things like keep closer control of your property and maintaining a closer relationship with your renters. You will immediately in the loop as the first point of contact for any questions or issues, but you will find out the managing your own property can be a lot of work.
The cons of managing the property yourself are basically made up of all that extra work. You will be solely responsible to fill your rental property whenever there is a vacancy. This is one of the most time consuming parts of renting a property out, and it can be hard if you are not a professional with a network of resources and lots of time to devote to it. You will need to place ads, respond to calls and emails, and interview potential renters on the phone. You will usually make appointments with a few more people than those who actually show up to meet you and see the property. You will need to be prepared to show the property 5-10 times in most cases, in order to find some potential tenants that you want to proceed with. Then you will need to check their credit and thoroughly check their application, and also be sure you have an airtight rental agreement for your new tenants to sign.
If you use a property manager in Saint George, the property manager will take care of all of those things for you. You will find that having a property manager can save you a lot of stress and time. If you let someone else manage your property for you, you will still be consulted about all expenses and issues that arise with your property. But you will likely enjoy the benefit of not having to take late night calls from your renters for maintenance or other things. If you decide a management company is the best option for you, be sure to consider a few different companies to make sure you have the right fit. You will want to maintain a friendly and professional relationship with your manager, so make sure it is someone you can trust and get along with long term. It is your property managers job to handle issues for you efficiently, and communicate effectively with you at all points of the rental process.
Why Should I Choose Holiday Resort Realty as my Property Manager?
Jeff has passed the title of Principle Broker on to his son Yale Morby. Yale has over 17 years of real estate experience. He takes pride in the business his father has built and has the same values to continue Holiday Resort Reality as a property management company you can trust. Yale was raised in Saint George and loves seeing the growth that the community has experienced. Yale has served as the Washington County Board of Realtors President, Vice President and has been a member of the Board of Directors. He has also served on the MLS (Multiple Listing Service) Committee and is now currently serving on the Professional Standards and Ethics Committee. In each of these positions, Yale has had the chance to learn more about real estate and the direct effect it has on St. George and its development.
McKenzie Morby is also born and raised in Saint George, and she is committed to providing the best possible service to clients whatever their property management needs are. She has been a part of the family business for over 11 years and has been licensed as a realtor since 2006.
Along with a team of other qualified realtors with over 200 years combined experience, the Morby’s and Holiday Resort Reality has what it takes to provide you with everything you need whether you are a seasoned property investor, or a first-time buyer or renter. They’ve got real estate in their blood, and they know what it takes to take good care of you.
Holiday Resort Reality has a lifetime love for the community of Saint George and Washington County that is reflected in the work they do. The company was founded on family values and principles of integrity and trust. Because the company was built on these morals as a family business from its start, it is a company you can trust to deal with your most valuable assets with honesty and great customer service. You will not regret getting a Holiday Resort Realty property manager.
Why Should I Choose Holiday Resort Realty as my Property Manager?
Holiday Resort Realty Property Manager
HolidayResortRealty.com
Should I Allow Pets in My Rental Property?
Allowing pets can cause a lot of damage to a property, even older pets, or cats that are litter box trained. The biggest risk pets can cause to a home is urination stains and lingering smell. If a home or property has pet damage, the unpleasant smell can be overwhelming and very hard to get rid of, especially from cats. However, if the pets live outside or are well behaved, there will be little to no damage to the home, and the risk may be well worth it.
So how do you as a landlord or property manager in Saint George determine when and if to rent to someone with a pet? It is a good idea to never rent to someone with a cat, since the smell from cats is so much stronger and more difficult to remove. Also, you can ask for “pet references” on your pet agreement application. When you call previous landlords to ask about the tenant, ask about the pet. Ask if there was any damaged flooring, drywall, or any urination damage. Also ask if there were any noise complaints from barking. Pets will sometimes chew on door jams, trim, or cabinets, so it is crucial to know if that is the case with your potential tenant’s pet. Also, if possible make a visit to the applicant’s current home. Check for any smell or damage to furniture, flooring, or walls.
It is wise to research a bit about the breed of dog that your tenant owns. Larger dogs are capable of making larger messes and potentially causing more damage. In addition, some breeds are classified as aggressive and are prohibited in certain cities or communities. If you knowingly allow a renter to live in your property with an aggressive dog breed, you may be liable if any accident should occur. It is best to allow smaller, quiet, well-trained dogs with a good reference history of behavior in rentals.
It might sound like a lot of hassle to allow dogs or pets in your rental property at all. However, as any Saint George property management company will tell you, allowing pets can be profitable as long as they are well behaved. People with pets need places to live, just like everyone else, and they often consider their pet a member of their family, just as important as a child to them. Pet-owners are often very willing to pay more to live somewhere that their pet is welcome and comfortable. It is common to charge a larger deposit in order to allow a pet. $250-500 may be reasonable. You can consult with your local property management company in Saint George about a fair charge if needed. Some part of this pet deposit may be nonrefundable to cover extra cleaning costs incurred. You may also charge an extra $50-100 a month in rent for the pet. This extra rent income should off set the risk of pet damage and make renting to a pet-owner worth your while.
Should I Allow Pets in My Rental Property?
Allowing Pets
HolidayResortRealty.com
Do I Need to Allow Service Animals in My Rental Property?
There are some general guidelines to keep in mind as a rental property owner or manager. You cannot charge a pet deposit or fee for a service animal. These animals are generally classified as guide dogs or animals trained to complete tasks for an owner with a disability. The owner of the animal will be liable for any damage to the property that is beyond normal wear and tear, such as chewing and stains. As a property manager, you may be able to charge a pet deposit for an emotional support animal. This depends on the prescription from the doctor as well as the type of animal, and local laws and ordinances. Emotional support animals assist those with a psychological or mental disability, providing a therapeutic effect. You are allowed to require documentation of the service animal, such as doctor’s orders or other certification.
You as a landlord or property manager are allowed to prohibit a service animal if it alters the services or standard of living provided for other tenants. For example, if a dog’s barking keeps neighbors up at night, you may refuse the dog, but the tenant may remain without the dog if he or she chooses to do so. You may also refuse the animal if it causes any harm or danger to others.
If a renter would like to be allowed to keep a service animal or emotional support animal, he or she would be wise to request reasonable accommodation before moving in so that agreement can be made on the terms of the service animal. It may be difficult for a renter to ask for specific accommodations. Mental illness often carries a stigma, and the renter does not have to disclose their exact condition. It is illegal to request to question the renter’s doctor, but in most cases, the landlord or property manager may request the prescription for the service animal.
You may find further information regarding the specific regulations that pertain to types of housing and specific situations by researching the following laws: The Fair Housing Amendments Act of 1988, Section 504 of the Rehabilitation Act of 1973, Title II of the Americans with Disabilities Act of 1990. Be sure to consult a property management company or lawyer before proceeding. What is found here cannot be taken as legal advice, just a general summary of guidelines regarding service animals in rental housing.
Do I Need to Allow Service Animals in My Rental Property?
Service Animals
Introduction to St. George Property Management
In Saint George, there are a variety of different types of properties to own and rent. There are townhomes, condominiums, apartments, single-family homes, and commercial rentals, among others. A property management company that knows the areas well can be of great assistance in managing any of these types of real estate. Some companies have experience also in building and developing of lots and property all over Washington County. Holiday Resort Realty has experience with buying, selling, and renting property in St. George, Santa Clara, Washington, Ivins, Hurricane, and other local areas. They can be trusted to manage your financial, legal, and maintenance concerns regarding your property whether you are a new or seasoned investor.
Partnering with a St. George property management company like Holiday Resort Realty will also help you to ensure that your rental property stays rented. Holiday is familiar with the markets here in Saint George, and they know how to advertise your rental to give it the most favorable exposure. Their staff of realtors is available to show your property and take care of all the paperwork to get you quality tenants every time.
In addition, a property management company will collect rent for you so you don’t have to worry about it. They take care of all accounting, late fees, deposits, HOA payments, and pet fees because they are the experts at it. They will also provide you with careful and accurate reporting so you are informed about your investment. The property management company will consult with you regarding any major expenses or maintenance.
St. George has plenty to offer in the way of outdoor enjoyment and recreational life. From hiking and mountain biking to boating and other nearby adventures, it is a great place to live for people of all ages. It is a growing community in many areas, with properties of all types in high demand. A local property management company can help you to get the best return on your investment while absorbing the majority of the work and stress involved for you. Whether you choose to manage your property or properties yourself, or team up with a management company, you are likely to have success in the real estate business in St. George. A management company can remove much of the risk for you so that your asset is protected and maintained in the best of experienced hands.
Be sure to review the pros and cons before committing to managing your property on your own or with a St. George property manager. Also, meet with several companies before selecting the right manager for you. Your real estate property may well be your most valuable asset, and you want to do your due diligence when making these decisions.
St. George Property Management
How Do I Find Good, Qualified Renters for My Rental Property?
In order to find a qualified renter, there are several steps you can use to find the right match. You can work with a Saint George property management company to help you come up with a thorough application document for potential renters to complete. This application should list the basic criteria for acceptance, so it is clear for all applicants. This list might include requirements like a minimum credit score of 600, proof of income, and never being evicted. It is up to you to decide what your requirements are, but then you will need to stick to them each and every time you acquire a new renter.
In addition to the renter criteria, your application will need to gather thorough information from the applicant. All personal information is important in order to run a credit check and verify identity. Be sure your application form asks for name, social security number, current address, and phone number for all adults that will be renting. Also ask for name and contact information for the applicant's current and last two landlords, and current and last two employers. Make sure to get permission on the application to contact the landlords and employers. Have a form handy with specific “yes or no” questions to ask when you contact them. This is an important to step to find good renters.
It is wise to charge an application fee. Your Saint George property management company can advise you on a reasonable application fee amount for your market. A fee is your first tool to weed out those prospective renters that can’t or don’t want to pay to apply. It is a good idea to also note on your application that all questions must be answered in full, and any blanks on the application will prevent it from being considered.
One of the most important steps to find good renters is running a credit report. To do this, you will need to notify the applicant and get permission on a signed form as part of the application process. Checking an applicant credit report will help you first of all to determine simple creditworthiness, but it will also tell you more than that. A reliable credit report will allow you to verify that the applicant’s name, address, and social security number match. A social security number and address that don’t match those on the application will signal to you that the applicant is hiding something. Also, if an applicant’s credit score is a little low, but everything else about them seems to meet your criteria, you can check if they have utility or rent bills in collections in order to help make your decision.
Once you thoroughly check through these criteria with each applicant, you will be equipped to make your decision in selecting the right renter. Remember that you will turn down far more applications than you will accept. When you decline an application, do it in writing. Let the applicant know which criteria they didn’t meet. You can check with a reputable Saint George property management company to make sure you meet all legal obligations for tenant selection without any discrimination. This process will save you a lot of time and energy in the future! You can find good renters!
How Do I Find Good, Qualified Renters for My Rental Property?
Find Good Renters
What Are My Obligations as an Owner/Landlord?
The general rights you have as a landlord pertain to the things that you are able to do to protect yourself and your asset and liability. These are things like determine the rental amount due (within market standards), receive rent on time, receive any charges incurred by the tenant in association with the property, review or make changes to the rent each year if notice is given to the tenant, and terminate the rental agreement with notice. You landlord obligations may require to be informed about who regularly lives at the property (the name and number of occupants). You can always make the decision about whether a tenant can sublet or lease a part of the rental property. You have the right to be informed about any maintenance issues that need attention, and be granted access to the property to complete the repairs as needed.
Keeping all these things in mind, you are not allowed by law to enter the rental property without written or agreed notice to the tenant. You also may not hold any property of the tenant, even if rent or fees have not been paid.
As a landlord, you also have certain obligations to protect the right of your tenants. You must always register the tenancy with local housing authorities. You must provide your renter with rent receipts, or records of their expenses toward the rental property. Always make sure the property meets minimum living standards for you area. Your Saint George property manager can help you to determine if you rental meets these qualifications. You are also obligated to maintain the rental property to the condition it was in when the renter took occupancy. You must reimburse your renters for any approved repairs they make to the property for you. It is also important that you provide easy ways for your renters to get a hold of you and the property manager. There must be open lines of communication, in case of any emergency, question, or issue. You will also return the security deposit to your renter if they have paid all rent and left the property undamaged. You may of course keep a portion or all of the security deposit if the tenant is behind in rent, has incurred fees, or has cause damage to the property beyond normal wear and tear. It is best practice to provide the tenant with an itemized list of any items that were subtracted from the deposit, whether returning a portion or not. As a property manager, landlord, or owner, following these guidelines to take good care of your tenants will help your renters to trust you and remain loyal over time.
What Are My Obligations as an Owner/Landlord?
Landlord Obligations
HolidayResortRealty.com
How Do I Keep My Property Rented and Ensure it is Well Cared For?
Once your rental property is in good shape to be rented and enjoyed, then comes the somewhat time-consuming process of placing ads for your rental and responding to inquiries until you find the right tenant. This is where a property management company for your Saint George rental really comes in handy. A property manager has the network and connections to find a qualified renter for your property right away which is an important step to tenant longevity. They can also help to word the ad so that your property sounds its best. They will take all phone calls and inquiries for you, and show the property several times until they find the right fit for you and your rental. If you don’t have the time to devote to answering phone calls and emails and placing ads every day until your property is rented, it might be best to turn over this responsibility to a property manager that can help you. If not, your property might remain vacant after your last renter, and every day of vacancy is taking money from your pocket.
Once the potential tenant has been found for your property, you will want to make sure to screen them carefully. Have a thorough application process, and be sure to check references and always pull a credit report. These indicators will help you to ensure you have a quality tenant that will stay with you a long time, and not skip out on their lease. Tenant longevity! Then, throughout the lease, maintain good communication and a positive relationship with your tenant. Attend to their needs and concerns quickly. If your tenant is happy with you and your service, they are likely to take good care of your property and give proper notice before moving out, so that you are in a good position before acquiring the next renter.
How Do I Keep My Property Rented and Ensure it is Well Cared For?
Tenant Longevity
How is the Security Deposit Handled?
The deposit serves a few purposes. First, paying a deposit is a way for the renter to put some skin in the game before they take possession of your property. It is a way to solidify the agreement that the renter will fulfill their commitment in renting from you, and will not back out before the move in date. This is important because you will have cleaned and prepared the property for the renter, and also likely turned down other potential renters for that time. If your renter fails to move in or rent from you, you have the investment they made as a deposit, so you are not completely without income on the property until your next renter. There may be some exceptions that allow for a deposit refund in cases like this, but your Saint George property management team can help you to determine those in your lease agreement beforehand.
The second reason to charge a deposit is that it protects the renter and helps them feel secure about renting from you. If they have paid a portion up front, they are right to expect that you as the landlord will uphold your end of the bargain—which means providing the place for them to live or stay that has been promised, and on the date that both parties have agreed to. The renter can rely on the details in their lease agreement to know what to expect regarding their deposit and what they will receive in return.
Lastly, the security or cleaning deposit protects you as the landlord or owner from being held responsible for any costly maintenance incurred by your renters. The deposit amount should be enough to pay for reasonable damages that could be incurred during the duration of your renters’ term of the lease. Every situation is different, and your Saint George property management service can help to advise you about the right deposit to charge for your property. If you are renting a home or apartment for a longer term, a general rule of thumb for a security deposit charge is equal to one month’s worth of rent. If you are renting a home for vacation stays, a wiser deposit charge might be just enough to cover your cleaning cost after a week stay, plus some extra cushion in case a renter breaks an appliance or fixture. Your deposit will depend on the type and quality of your rental property, but it will need to be clearly outlined in your rental agreement. You can consult with a Saint George property manager regarding drawing this up correctly so that you and your renter are on the same page about the deposit for your property.
How is the Security Deposit Handled?
Security Deposit
What Concerns Can I Expect When Dealing with Renters?
A majority of the risks or expenses you will run into while dealing with renters are repairs and maintenance to your property. If you have a high turnover of renters on your property, you will have regular costs like cleaning, carpet cleaning, changing AC filters, touching up paint on the walls, and making smalls repairs like replacing light and plumbing fixtures occasionally. With long-term renters that are well-screened beforehand, and that take great care of your rental property as though it were their own home, you will still need to do regular checks on the property to make sure all electrical, HVAC, and appliances are working well for them. You will want to replace appliances when needed to keep your property in desirable condition. (How often to replace each appliance.)
It is also recommended to replace carpets every 5-10 years (depending on the quality of carpet and the frequency of foot traffic), and linoleum or vinyl flooring every (how many) years. If you are keeping your rental property in great condition, and responding to any maintenance requests from your tenants quickly and efficiently, your tenants will most likely want to stay with you for a long time. They will be cooperative and considerate in most cases. You may want to partner up with a property management company in your Saint George area to make sure you are the best landlord you can be to your renters.
A Saint George property management firm can also help and advise you when create your lease agreement. An agreement like this protects you and your renters. Having a solid lease agreement that outlines what repairs and maintenance or cleaning costs will be charged to the tenant is in your best interest. If the renter understands the agreement and signs to it (which is completely vital before renting out your property), you are spared a lot of potential headache down the road if any issues should arise. You can refer to the lease agreement to answer many questions that your renter may have. Most often times, questions about house rules, fees, or any other information is all in the lease agreement, and the renter can refer to it anytime so that both parties are clear. Having a well-written and thorough lease will be your best friend in dealing with your renters.
Occasionally, you will have renters that disregard some part of the lease agreement, and do not care to follow the rules of renting your home or property. They may have a pet when not allowed, they may default on their rent payments, or they may break a rule of the community your property is a part of. In these situations, a simple reminder/warning letter can solve the issue. You can also charge a fee to their rent bill, or from their deposit for breaking the rule or causing damage. These warnings usually take care of things with most reasonable people. If the situation becomes more severe, you may need to evict the renter with local legal help. Holiday Resort Reality can answer any questions you have about the eviction process, and assist you with managing your property in Saint George.
What Concerns Can I Expect When Dealing with Renters?
Dealing With Renters
HolidayResortRealty.com
Should I Rent a Single-Family Home?
Single-family homes, which are generally stand-alone properties in neighborhoods where many homes are owned, are often preferable to many families. In these types of developments, a family’s rental status is undetectable to their neighbors that own the surrounding homes. Sometimes a family whose home has gone into foreclosure is able to make the rent payment on a single-family rental home and will find that to be a preferable option for their family size. In the past 5 years or so, foreclosures in the market have turned over 3 million homeowners into renters of homes of similar size.
In a single-family or stand-alone home, a family will be able to have a lot more square footage, bedrooms, and bathrooms than in a multi-family unit in most cases. In addition, a family will enjoy privacy and noise privacy, which is a valuable asset if you have young children or pets. Another added bonus to renting a single-family home is that you will likely have access to lawn or garden space, which can be great for pets, children, and entertaining. Another benefit is the permanent feel of a family oriented neighborhood, as well as increased parking space availability.
However, in choosing a single-family home for your Saint George rental, you will lose some benefits that come with living within a multifamily rental property. These benefits include things like access to a community pool, clubhouse, or fitness center, as well as added security on site in parking lots and communal areas.
It is important to keep in mind that there is likely to be quite a cost difference in renting a stand-alone property vs. an apartment or condominium. It is more expensive for landlords to maintain properties at a variety of different locations, instead of all in one place. It is also more expensive to maintain the lawn, landscaping, and exterior of a stand-alone home. Those things are generally covered within a reasonable standard fee at multi-family units. These costs, as well as the size and amenities of the home, will be reflected in the rental amount charged to you as the tenant.
All things considered, a single-family home may be the perfect choice for your family, depending on your financial situation and family size. You are likely to find a greater feeling of hominess and permanence in a rental home, and you may find the desire to remain in the home for a long time. This can be a great step to rebuilding your credit before purchasing your own home in the future. As a tenant that wants to stay a while and take care of a stand-alone home as thought it were your own, you will make an ideal tenant for any landlord.
Should I Rent a Single-Family Home?
Single-Family Home
HolidayResortRealty.com
Should I Rent an Apartment?
In addition, apartment living may fit your lifestyle the best. Many young people that are first-time renters are not home a lot, perhaps attending school and/or working long hours. They may be single. The smaller space of an apartment rental with just the right amenities may be just the right fit for this type of renter. A more established family with children and more belongings and furniture accumulated over the years may not be as suited to apartment living.
Another great benefit to an apartment rental in Saint George is that neighbors are in close proximity. This, combined with community amenities such as a pool, fitness center, and clubhouse, create a social environment that caters to young or single people. However, in most apartment communities, units with more privacy and quiet can be requested if desired. Another great benefit is that you will not have to worry about any yard maintenance of your own while you live in an apartment complex. No lawn mowing or shoveling snow for you! That is all taken care of.
You will want to be aware that apartments will likely have strict pet policies and enforcements for noise complaints. Apartments are easy to closely manage, which is a benefit to you because you are unlikely to run into problems with rowdy neighbors, but that means you also need to mind your P’s and Q’s. Be sure you have thought about your needs for space and privacy before signing a lease for any rental property.
Apartments may often have a more regular turnover and may be easier to quickly get into than other types of rental housing. They are also likely to be centrally located downtown in your area, near shopping centers, schools, restaurants, and public transportation. One downside of apartment rentals will be limited parking if you have a car. You may be allotted just one or two spots per unit if you are lucky.
In an apartment, you will likely enjoy the perks of having a professional management company instead of a private landlord. A professional company should quickly respond to complaints and maintenance concerns. They are trained and familiar with every issue that you can think of, and they have the resources to come to satisfactory solutions for you. You will likely have a maintenance staff on site, and can probably even pay rent on site or online, saving yourself a stamp. These are all things to consider when deciding what type of a rental will best suit you in Saint George.
Should I Rent an Apartment?
Apartment Rental
HolidayResortRealty.com
Should I Rent a Condo or Townhome?
A town home or condo is likely to be larger and more spacious than an apartment. It will likely have a basement or attic, and perhaps a garage. If you are looking for more storage space without worrying about your own yard maintenance, a condo may be the perfect compromise. Because of this additional square footage, a condo or townhome will be more costly than most apartments. It may be a great option for new families or roommates.
A great benefit to renting a townhome or condo in Saint George is that a condo community like has the amenities of an apartment complex, like a pool or fitness center. The cost for these amenities is included in your rent or HOA payment. A townhome can offer these social aspects for renters while still providing space and privacy for an affordable price. You can also choose a townhome with two stories, or a condo with no stairs, depending on your needs.
If your family is looking for a combination of the benefits of apartment living and living in a suburban residential neighborhood in a single family home, a townhome or condo community may be the perfect option for your lifestyle. There are a variety of rental types in beautiful St. George, and a condo or town home is the perfect fit for a variety of renters in different situations.
Condo vs Townhome
Vacation Rentals in St. George, Utah
Saint George is the centrally located near many beautiful and breath taking outdoor attractions. We are just 50 minutes away from Zion’s National Park, where guests can enjoy hiking, biking, canyoneering, rappelling, and sightseeing. With its majestic red cliffs, blue skies, and stunning views, Zion’s is something you don’t want to miss. Other attractions within driving distance of St. George include Bryce Canyon National Park, Grand Canyon National Park, Snow Canyon State Park, and of course, Las Vegas, Nevada. You will not run out of things to do and see if you make Saint George your vacation destination.
Regardless of your group size or price range, Holiday Resort Reality can help you find the vacation home or rental that is right for you and your budget. Renting a vacation home is easier that you might think. Once you find the vacation rental that works for you, you will likely pay a security deposit that will cover cleaning of the rental, and sign a lease agreement for the term of your vacation stay. The cleaning portion of the deposit is usually non-refundable and is a standard protocol to keep the rental in great condition for all guests. You may pay an additional deposit amount for incidentals or damage. You will usually be asked to pay for the rental in full 30-60 days prior to your stay, but policies of each management company are different. This policy is to ensure that you are committed to stay at the property for the duration agreed upon, and then it will be held for you and your group. At that point, you are ready to pack your bags and get read to relax and enjoy!
Each vacation rental will have different amenities and cleaning policies. Some may have housekeeping services, and some may not. Be aware of these policies so that you can receive all of your deposit back when the time comes. Many vacation rentals will have full kitchens with dishes and toiletries for you to use. Be sure to wash your dishes or do laundry for your group if it is part of your lease agreement before you finish your stay.
A vacation home in Saint George can allow your group the privacy and space that you prefer to make your vacation as enjoyable as possible. It is a great option for extended stays, large groups, or those that want to stay in suburban or desert areas to get a real feel of the beautiful St. George community.
Vacation Rentals in St. George, Utah
Vacation Rentals
HolidayResortRealty.com
Southern Utah Vacation Rentals: Legal Issues
Another legal issue to be aware of as a landlord or a renter is the stipulations of cancellation of the lease, and what requirements must be met for the deposit to be returned. In some cases, a renter does not cancel and doesn’t plan to, but terminates their stay early because of bad weather at the vacation spot. In a situation like this, the language in a cancellation clause regarding “acts of God” or other circumstances outside the owner's control can protect the landlord. In such cases, the renter is still required to pay for their entire stay. As a renter, you will want to be aware of this as you plan your trip and assess your risk in booking the property and paying your deposit. Also keep in mind though, the landlord is never allowed to keep your deposit without just cause and explanation. You deserve to know where your money is going and why, if any deposit funds are withheld from being returned to you.
As an owner of a Saint George rental, you will want to be sure you understand the requirements and rules regarding premises liability. This comes into play if there is any incident or injury involving a guest on your property. If someone slips and falls, for example, your liability claims adjustor will want to know if this happened to someone on the lease, or to a guest or additional person. You will also need to know whether the fall was caused by any negligence on your part or just an event during normal activity. It is important to note that your regular homeowner's insurance does not cover you in a case of these types of incidents.
In some cases, homeowners don’t require a deposit from renters; instead, they cover damages by requiring the renter to purchase a one-time third-party damage protection policy. These policies are typically around $49-$89, and cover the renter for liability for any damage to the property during the duration of their stay. This sometimes helps renters feel more secure, and can also be more affordable than a security deposited. If there is any damage, financial responsibility then falls to the insurer instead of the renter, and make things a little easier for all parties.
Legal Issues
Southern Utah Vacation Rentals
HolidayResortReatly.com
What Qualifies Me as a Good Tenant?
Be pet free. This, of course can be a tough one if you already have a pet as part of the family. That being said however, if you are pet-free then make sure the landlord knows it right away. Not having a pet that will damage carpets and walls may just put you at the top of the running for getting the rental that you want.
Don’t smoke! Most states have banned smoking in restaurants and public places, and Utah is one of them. This also goes for apartment buildings and condo complexes as well. The landlord may not ask about this but let him or her know that you don't smoke up front. Or it may be a question on your rental application. Either way, not smoking will help you.
Be prepared to show proof of employment. Most landlords will ask about your job and income, so be prepared to share your current employment situation. Most applications ask about your employment in detail. Consider bringing a letter from your employer, and paystubs with you when you meet your potential landlord the first time. If you have been at your job longer than a year, having a reference from your previous employer will also help.
Provide references. To really set yourself apart from the pack of applicants, bring one or two reference letter with you that attest to your character. This will save your new landlord the trouble of having to call or hunt down your reference from your application, and will also make you look very prepared and on top of things.
Let the landlord know that you don’t play loud music or have loud parties. He or she will appreciate a well-mannered tenant that the neighbors don’t have any problems with.
Consider a longer lease. If you know you'll be staying around for a while, tell the landlord up front that you would be willing to sign a 2-year lease. This takes work off the landlord’s plate because he won’t have to find a new tenant in a year. He also knows you are invested in living somewhere that you enjoy, and will like take care of the space. You may even get a discount for leases that are two years or longer.
Use your best interview skills. You'll meet the landlord on your visit to check out the apartment. If you are not alone in this situation, follow up and ask for an interview so you can relay all of the above information in person and without other apartment seekers around. This will also show the landlord that you are serious about renting an apartment.
Overall, the landlord wants good, responsible people living in the building. Yes, most of this is common sense and intuitive if you put yourself in your potential landlord’s shoes for your St. George rental space.
What Qualifies Me as a Good Tenant?
Good Tenant
HolidayResortRealty.com
How Do I Find a Pet-Friendly Rental?
A great resource for finding pet-friendly rentals is the Humane Society or the animal care or control shelter. Nonprofit places like this will often keep lists of pet-friend communities and rentals on hand, just for this purpose. Other websites with ads for rental properties will generally let you specify whether you are looking for a dog- or cat-friendly rental, so you can see options in your area quickly at a glance.
You may have to come to terms with the fact that your first, second, and even third choice of rental properties, just will not budge on a no-pet policy. Start off instead looking in condos, or privately owned rental units. Take note of who else has pets nearby the areas you check out, and see if they are well-behaved and well-cared for. You’ll want to know that you are joining a community of responsible residents and pet-owners.
It is also great practice as a pet owner to gather documentation that you are a responsible tenant. Showing any training certificates that your dog has can really help. Have favorable references from past landlords that describe how your pet was well-behaved. Also in this situation, a letter from your vet showing that your pet is fully vaccinated and spayed or neutered can’t hurt. It is good to show that you have been thorough and conscientious in your pets care.
Make sure you are willing as a pet owner to pay a little extra. Having a pet-friendly rental in St. George will often require a pet deposit and possible a monthly pet fee. Your willingness to pay may show your landlord that you do not have worries about the rental price or your income. Also, communicate to you potential landlord that pet-owners make great tenants. Pet-friendly rentals are hard to find, so you are interested in staying for a long time. Also let the landlord know that you are just as committed to your pet’s behavior and the cleanliness of your home as he or she is. You are in this together, and you can be trusted to manage your pet and all responsibilities related to pet-ownership.
How Do I Find a Pet-Friendly Rental?
Pet-Friendly Rental
How Do I Resolve Issues With My Landlord?
Some landlord issues you may run into with your landlord might be neglecting maintenance, failure to provide a rent book or receipts for payments, or failure to meet minimum physical standards. If any of these are the case, you can contact the US Department of Housing or a similar state organization. Tenants have certain rights that are protected by these organizations, and they can help to enforce proper practices by incurring fees and other consequences upon your landlord.
As you a trying to work things out with your landlord, no matter what the issue, be sure to keep careful documentation in writing of all communications. After an initial verbal conversation (that you can make note of and date), make any follow-up requests in writing, and keep a copy of all of your requests for service or maintenance. Keep check stubs and bank records of everything you pay your landlord. If your landlord responds by email, letter, or phone call, make a note and record the date. If your landlord never responds, be sure to record that as well, noting the time that goes by without a response. If the landlord issues get escalated and require legal mediation, your records will be the most important evidence you have. You want to be thorough and make sure there is no room for here say in your case.
If the case does escalate, it will follow a certain legal process until it is resolved. The case will first go to mediation, which means that an impartial third-party will help you and your landlord come to an agreeable solution for both. The goal is to come to an acceptable solution that requires further legal action. A copy of the mediation will be sent to both parties, and they are then expected to follow the stipulations that have been agreed upon.
If either of the parties does not agree to mediation, the case will proceed to adjudication. In this case, a judge makes a decision regarding the dispute. You and the landlord will each decide if you can agree with the decision. The adjudicator will investigate the case for both sides, and once a decision is reached, both parties will have to respond their cooperation with the decision in writing within 21 days.
If any parties do not cooperate, a Tenancy Tribunal may be called to issue and enforce a determination order. This is the last resort. Hopefully, a satisfactory solution can be reached in the early stages of any dispute. It is best to communicate directly and professionally with your landlord or property manager and be a good tenant by paying rent on time and cooperating with any legal requests that your landlord has for the St. George rental property.
How Do I Resolve Issues With My Landlord?
Landlord Issues
Should I Buy or Rent?
Another question to consider is whether or not you can afford to buy a home. In some cases, it is the best financial decision for you may be to rent a place that cost only a small percentage of your income, so that you can build your savings and/or credit before purchasing a home of your own.
Another thing to consider is how much time and money you have to spend on maintenance and repairs. Homeownership requires a lot of responsibility and commitment. If you have a busy schedule that doesn’t allow time for home maintenance, or if you aren’t ready for that kind of commitment, renting a property may be a better choice for you.
If you are staying in St. George for a longer duration, you might choose to buy real estate and own a home. If that is the case, it is recommended to budget less than 28 to 30% of your monthly income for your mortgage payment, including principal, interest, and all related costs.
Keep in mind that your mortgage will be just one of the costs related to owning and maintaining your home. Be sure to budget for utilities, HOA fees, yard upkeep, and maintenance and repairs.
Whatever decision you make regarding buying vs renting, a St. George real estate agent can help you make the best choice for you and your family.
Buying vs Renting
What is a Mortgage?
When you borrow a mortgage, you’re signing a legal contract promising to repay the loan plus interest and other costs. Your home is collateral for that loan. If you don’t repay the debt, the lender has the right to take back the property and sell it to cover the debt, a process known as foreclosure, which will severely damage your credit.
The principal is the total sum of money you borrowed to buy your home. To lower your principal amount upfront, you can put down a down payment. Typically, lenders require you to make a down payment equal to 20 percent of the home’s purchase price to get a mortgage, but this can vary.
Interest is what the lender charges you to use the money you borrowed. Principal and interest comprise the majority of your monthly payments in a process called amortization, which reduces your debt over a period of time. In addition to your principal and interest, your mortgage payment will likely include taxes. The taxes are property taxes your community charges based on the value of your home. These taxes generally go towards financing the costs of running your community – for example, to build schools, and to provide certain public services.
Lenders won’t let you close the deal on your home purchase if you don’t have home insurance, which covers your home and your personal property against losses from fire, theft, bad weather and other damage. There are several types of insurance that might be required along with your mortgage. If your home is in a high flood-risk zone within a flood plain and you are signing for a federally insured loan, federal law mandates that you must buy flood insurance.
If you choose to get a conventional loan, and you put down less than 20 percent of your home’s total value at closing, your lender will likely require you to pay private insurance or PMI. PMI protects the lender from you defaulting. You will have to make PMI payments for two years or until your balance shrinks to 78 percent of the home’s original purchase price. If you choose a loan backed by the Federal Housing Administration, you will have to pay insurance. The insurance works the same as PMI, however, you will have to make these payments for 11 years or for the life of the loan, depending on your loan terms and down payment amount.
If you have questions about getting one (or a home loan) for a real estate purchase in Saint George, the experts at Holiday Resort Realty can help you with additional information.
What is a Mortgage?
Mortgage
HolidayResortRealty.com
Should I Build a Home?
The big advantage to home building is that you get exactly what you want. For many, this factor alone is enough to choose building over buying, but there are other advantages, too. A new home is also more energy efficient. Better efficiency is good for the environment and can save you money on your utility bills each month. Another benefit to building a new house is that it may literally be better for you. A new home won’t have mold, pest, or asbestos problems and is better for your health.
Even though the upfront costs of home building can be higher, it may be a better investment. If you end up selling your home, a new home will be more appealing, especially if it is energy efficient. In addition, a new home will require fewer repairs and less maintenance, which can save both money and time. You will also have a warranty for a certain number of years on your new home, and that can save money for repairs.
There is also a special emotional connection that comes from home building your own house. You are part of the process from start to finish, and no one has lived in the home but you. You are able to customize all of the features to your specific tastes and needs and feel that the home is really yours.
The biggest drawbacks to building a house tend to be the higher costs and the longer timeframe for closing and move in, both of which can increase throughout the home-building process. That said, you can limit the risk that your house will go over budget or take longer than you expected by working with a reputable builder and having a good contract in place. You can try a lump-sum contract to avoid additional hidden costs throughout the process. A lump-sum contract specifies a fixed price for construction, putting the risk of extra costs on the builder instead of the buyer. If you're buying a builder home, be sure that everything you need is included. In addition, to save both money and time, maintain good communication with your builder and make sure you are happy with the design/specs before the build begins. It's not good for you or your builder if you change your mind about the color of the granite countertops after they've already been installed.
As an experience St. George real estate professional can tell you, building a home can be a long and costly process. But the benefits of energy efficiency, increased value, and emotional ownership may outweigh the risk.
Home Building
What Was the Real Estate Bubble?
Many experts disagree about whether market bubbles can be predicted or prevented. Real estate bubbles generally occur about every 13 years and last for about 2 ½ years when they happen. Housing bubbles create a greater effect often that stock market bubbles do. The main economic perspective on a real estate bubble is that it can increase wealth, and redistribute wealth for the country. When prices and values are increasing, there is a positive effect on the economy, because home and property owners are feeling wealthy and spending more money. When the bubble bursts and values come down rapidly, the economy is negatively affected because property owners are spending less. Owners won't be greatly affected if they don’t sell their home during the “burst” period.
In St. George, the real estate market is currently recovering from the bubble and decline of the early 2000’s, and property values are again building.
What Was the Real Estate Bubble?
Real Estate Bubble
HolidayResortRealty.com
Southern Utah Housing Market
One great thing about the rise of the real estate market after a dramatic drop is that areas in St. George are exploding for building. The growth of the real estate market leads to increased jobs in the area, and a positive effect on the local and global economy.
Right now is a very popular time for investors in the Southern Utah market, who are not flipping houses, but renting them and seeing great returns. The rental market is a great place to be right now as a property owner. It is even better because it is easier to rent any kind of property right now. Mortgages are hard to get and have stricter requirements, which will lead to a slower build of a future real estate bubble, and prevent so much of a crash in the future this time around. Loan criteria are strict, and former homeowners coming away from a foreclosure are eager to find comfortable and spacious rentals, to meet their desire for a homey feel.
The Southern Utah market is predicted to improve as the national economy stabilizes, and investors and homeowners discover the benefits and beauty of St. George and its surrounding areas. Many people who move to St. George temporarily end up staying long term because of wonderful it is.
Southern Utah Housing Market: What You Should Know
Southern Utah Housing Market
HolidayResortRealty.com
How Much House Can I Afford?
The first thing to seriously consider when calculating your house budget is your annual income. In other words, this is the combined annual income for you and your co-borrower. Include all income before taxes, including base salary, commissions, bonuses, overtime, tips, rental income, investment income, alimony, child support, and any other sources of income.
Next, you must review what you can afford for the down payment. This is the amount of money you will put towards a down payment on the house. Make sure you still have cash left over after the down payment to cover unexpected repairs or financial emergencies. Don’t completely wipe out your savings on your down payment, as other expenses related to owning your new home. Things will happen.
Talk with your real estate agent or lender in St. George to understand all of your debt and how it affects your cash flow every month. Your house budget should take into consideration all of you and your coborrowers monthly debts, including minimum monthly required credit card payments, car payments, student loans, alimony/child support payments, any house payments other than the new mortgage you are seeking (like rent), rental property maintenance, and other personal loans with payments. Keep in mind you don’t need to include: credit card balances you pay off in full each month, existing house payments (rent or mortgage) that will become obsolete as a result of the new mortgage you are seeking, or the new mortgage you are seeking.
Keep in mind the interest rate on the mortgage you are seeking. This is the interest rate for the loan you will receive. That will be incorporated for your payments for the next 30-years or so, so it is best to have a good understanding of the rate you are paying. The payment you make each month will also factor in property taxes. The value you pay represents an annual tax on homeowners' property and the tax amount is based on the home's value.
One vital thought to consider is the cost of homeowner’s insurance. That will be a necessary cost as you own your home. Commonly known as hazard insurance, most lenders require insurance to provide damage protection for your home and personal property from a variety of events, including fire, lightning, burglary, vandalism, storms, explosions, and more. All homeowner's insurance policies contain personal liability coverage, which protects against lawsuits involving injuries that occur on and off your property. In addition, mortgage insurance is required primarily for borrowers with a down payment of less than 20% of the home's purchase price. It protects lenders against some or most of the losses that can occur when a borrower defaults on a mortgage loan. Also known as PMI (Private Mortgage Insurance).
A specific expense that can sometimes catch new homeowners by surprise is the HOA fees. Typically, owners of condos or townhomes are required to pay homeowners association dues (known as HOA fees), to cover common amenities or services within the property such as garbage collection, landscaping, snow removal, pool maintenance, and other community amenities.
Your loan duration is the final thing to check carefully before agreeing to your mortgage. Loan duration is the length of time you choose to pay off your loan (e.g., 30 years, 20 years, 15 years, etc.) Other factors will come into play when you're trying to get a home loan, such as debt to income ratio, so it is important to understand your own financial situation. Make sure you know exactly what your house budget is so you don't get into something that, in reality, you cannot afford.
How Much House Can I Afford?
House Budget
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