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How to Choose the Right Rental Property Manager

How to Choose the Right Rental Property Manager

by Seth Williams | BiggerPockets.com

How to choose the right property manager.  If you’re anything like me, you probably LOVE the idea of “passive income”.  It’s okay to admit it.  It’s a buzz word we’ve all been hearing about for years now, and let’s be honest… who wouldn’t want several large paychecks to finance their lifestyle? Would it be so bad if those paychecks kept coming in month after month, year after year, for the rest of your life, regardless of whether you kept working?

Yeah — passive income sounds like a dream come true alright, but we’ve all had people try to sell us on this before.

Back when I was a new investor, I heard the same sales pitch about all kinds of new business opportunities, investment funds, real estate courses and multi-level marketing schemes. Everyone talked about it like they had the “keys to the cash flow kingdom,” but when you hear this much hype about something, it’s easy to grow a thick layer of skepticism toward the idea. Obviously it sounds great, but come on, is this really possible?

Most of us have a hard time believing in things like passive income. We understand it conceptually, but when you’ve never seen it or experienced it firsthand, it’s just hard to know whether this stuff is a myth or a reality. It definitely looks good on paper, but is it really that simple? Can anyone actually show me the money?

Dealing With Reality

When I was in college, I was fascinated by the idea of buying rental properties. Like most of us, I had read all the Rich Dad Poor Dad books, seen all the late-night infomercials and spent hours scouring the internet for answers. All the books made it sound like the smartest thing you could do with your money, and everyone on TV made it look like candyland… but whenever I talked to the REAL landlords I knew in my life, I heard quite a different story.

businessman questionMost of them would tell me how difficult it was to deal with tenants, describing one horror story after another. It seemed like they were constantly feeling burnt out and disillusioned with the foolish dreams they once had of being a landlord. If I didn’t know any better, I would’ve thought they were miserable!

You’ve probably heard some of the horror stories too, am I right? Maybe you’ve even experienced some of them yourself. Perhaps you know exactly what it’s like to deal with irresponsible renters, exploding toilets, bug infestations, leaking pipes and evicting the “tenants from hell.”

When I heard these kinds of stories, rental properties sounded more like a nightmare than a dream come true. It always left me wondering, why are so many landlords willing take this kind of abuse? If passive income is really attainable from real estate, why does everyone have such a hard time finding it?

Nevertheless, I remained cautiously optimistic that I would find what I was looking for.

The Dream Becomes Reality

When the day finally came for me to take the plunge and buy my first rental property, I was pleasantly surprised to find that passive income really did exist. It’s wasn’t just a sham after all! I was able to find some for myself, and there’s no reason you can’t do the same.

The truth is, there was only one reason I ever got to experience this phenomenon firsthand. It happened because I found the right property management company.

Without question, my property manager has had a MASSIVE impact on the success of my rental properties. If I didn’t have a good, competent property management company running the show, I never would have survived in this business. It’s just that simple.

Get to Know Your Property Manager

As I eventually learned from my conversations with other rental property owners, I apparently got lucky with my property manager because they’re not all created equal. Even though some of them are EXPERTS who are very good at what they do, others are quite the opposite and represent all that is wrong with the industry.

Finding the right rental property manager is a big deal! After all, these people are going to be your eyes, ears, hands and feet on the street. Their actions will have a major impact on whether you own a profitable and efficient portfolio of rental properties or a business that is constantly struggling to keep its head above water.

If you decide to hire a property management company, you need to understand who you’re working with BEFORE you give them the keys to your property. When I went shopping for property managers on my first duplex, I used a series of questions that helped reveal just how experienced and competent each candidate was and whether it made sense for them to manage my specific property.

The questions worked astoundingly well. In about 30 minutes, I was able to establish a reasonable level of trust (which was a lot better than gambling with my life’s work just to “test them out” in the real world).

Here’s what I asked them…

Property manager – www.primetimemgt.com

Regarding Their Experience:

  • What kinds of properties are you most experienced in managing? (i.e. single family homes, multi-family, apartments, commercial, etc.)?
  • How many rental units do you currently manage?
  • How long have you been active in the property management business?
  • How many rental properties do you own personally?

Regarding My Properties:

  • In your opinion, what are the best areas in town to own rental properties?
  • What are the average vacancy rates in these areas?
  • What is unique or special about these areas?
  • Do you think these areas are improving or declining?
  • When you look at my property (or the property I’m looking to buy), does it strike you as a good investment for the price I’m paying? Why or why not?
  • If you were buying a new rental property today, which areas would you focus on and what types of properties would you be targeting? Why?

Management Related

  • How is your company’s work divided (i.e. how many units does each person manage)?
  • What portion of your maintenance work is contracted out vs. done in-house?
  • How does your tenant screening process work? What steps do you take to find good, long-term tenants?
  • How does your eviction process work? Tell me the timeline of events, starting from the first day rent is late.
  • What are the tenant’s responsibilities in your lease agreement (e.g. cleaning, furnace filters, yard care, etc.)? What happens when a tenant doesn’t handle these responsibilities?
  • At what point will you come to me for approval of expenditures? What’s your spending limit?
  • In what ways will you be able to improve the profit margin on my properties (e.g. increasing rent without losing tenants, sharing late fees, etc.)?
  • Are there any other ways you can add value to my overall operation?
  • How does your management fee structure work? What kinds of things are included or excluded (advertising, placement fees, etc.)

Property manager – www.primetimemgt.com

Other Things to Consider:

  • How often will you provide me with an accounting statement for my properties?
  • Will you deposit each month’s rent into my account via direct deposit or via check?
  • Do you have the appropriate license(s) to be a property manager?
  • Do your contractors carry their own liability and workman’s comp insurance?
  • Are there any regularly occurring times you’ll be visiting my tenants/properties?

While I was at it, I made sure to check out their website and drive by a couple of the properties they were already managing. This gave me a good idea as to whether their properties fell in line with my overall expectations and whether they were going to be a good fit with the types of properties I was planning to buy in the future.

A Good Property Manager Will Make Time for You

I realize this list of questions is quite thorough, and in some cases you may run across a property manager who is just too busy to sit down and answer them for you.

I understand that property managers are busy people (I am too, believe me), but I also know that if they have any desire to grow their business and bring on new clients, they will set aside a few minutes and answer them for you.

Some property managers will be pretty obvious about the fact that that they don’t have time for this silly little interview (and that’s their prerogative). If you’re getting this vibe from a potential property manager, you can take this as their way of saying:

“We don’t have time for your business. Get lost.”

If a property manager doesn’t have time to answer your very simple questions in this interview, do you really want to put them in the driver’s seat? Do you think they’ll treat you any better after they’re controlling the fate of your business? Just speaking for myself, it’s not something I’d want to leave up to chance.

Property manager – www.primetimemgt.com

Pass the Torch (and Stop Micromanaging)

There’s one more dilemma that many of us have to wrestle with. It’s called micromanaging.

This challenge seems to be particularly difficult for those of us who have already been managing our own properties for years, but are trying to get out from under it.

The problem is, the whole point of hiring a property manager is to make your life easier, and part of this transition process involves you letting go.

A rental business will never operate at a perfect level of efficiency, even when you’re at the helm. Give it some time and keep your eyes peeled for patterns of unfavorable outcomes, but keep calm and let your property manager carry on.

Property manager –  www.primetimemgt.com

– Property Manager  –  Property Manager – Property Manager – Property Manager – Property Manager – Property Manager – Property Manager – Property Manager –

Visit a Park in Provo, Utah

Visit a park in Provo. Provo has some of the most beautiful parks in the state of Utah with over 813 acres of developed park-lands, 35 miles of paved trails and paths, and 468 acres of turf for organized sports fields.

Provo Parks & Recreation is a premiere parks and recreation agency that has been recognized nationally by organizations such as Forbes Magazine as one of the most livable cities and by Outside Magazine as #2 in the United States as the best for outdoor recreation opportunities.

The parks directly influence the quality of life for residents and visitors of Provo.  Below we have pulled together a list of some of out favorite neighborhood parks.  With cooler weather on the way now is the perfect time to soak in the last few weeks of green grass and blue skies.

exchange-trail

Reasons Tenants Move

by Larry Alton | BiggerPockets.com

Reasons Tenants Move 

If you’ve been a landlord for long enough, you’ve inevitably had an experience where you have a good tenant — things seem to be going fine — and then they surprise you by not renewing their lease. Aside from being costly, these situations are confusing. What makes these tenants leave?

1. Changes in Personal Situation

In many cases, a tenant’s personal situation may simply change. Maybe they’ve changed jobs, recently expanded their family, or are moving away to be close to a significant other. There’s nothing you can do about these highly personal situations, which often sneak up with very little warning.

2. An Expensive Rent Hike

Are you enacting an increase in rent? Even if it’s simply to keep up with the going rate, many tenants don’t like the idea of increasing a rent payment for the same property. For some reason, they’d rather switch properties and pay more. Psychologically, a new place seems to better justify the price increase.

If you absolutely have to raise rent, do so over time. Raising your rent by more than 10 percent is a surefire way to lose even your most loyal renters. If your rent is significantly below market value, tell your tenants. Then, gradually raise rent in increments each year. Raising rent 2–3 percent here and there will have a much less noticeable effect.

3. Poor Attention to Detail

Sometimes tenants simply get tired of dealing with your lack of attentiveness. While they understand that issues happen, they want to see you put forth the proper effort to correct them. For example, if the air conditioning goes out on a Friday afternoon in July, they want you to make as many calls as you can to get someone out there right away. Waiting until Monday and forcing them to suffer through the miserable heat won’t win you any bonus points.

4. Lack of Communication

This one goes hand-in-hand with the last point; lack of communication is a major cause for turnover. Not only do you have to communicate regularly with your tenants about things like maintenance, but you also need to speak with them about renewal well in advance to give them time to process things like rate increases or changes in lease terms.

5. Lack of Trust

What have you done to establish trust and rapport with your tenants? Do they feel like they can be upfront and honest with you? — Or do they sense that your only purpose is making money? Tenants want to be treated with transparency.

6. Problems With Neighbors

As we all know, bad neighbors can make for a miserable housing experience. Nobody wants loud, intrusive neighbors. If you have bad neighbors around, don’t be surprised when your tenants take a hike.

The Cost of Turnover

Experienced real estate investor Kevin Perk knows a thing or two about managing properties, so when he says that tenant turnover is the single biggest killer of cash flow, your ears ought to perk up.

“When talking about tenant turnover killing cash flow, I am talking about all of the processes and costs involved in moving a tenant out of an apartment, fixing it up, and moving another tenant in,” Perk says. These include administrative costs, advertising, showing the property, application costs, repair expenses, and, of course, lost income.

While you can’t retain 100 percent of your tenants, you can make sure you’re aware of the common causes of turnover so that you don’t do yourself a disservice.

Reasons Tenants Move – Reasons Tenants Move – Reasons Tenants Move – Reasons Tenants Move – Reasons Tenants Move – Reasons Tenants Move – Reasons Tenants Move –

www.primetimemgt.com

 

Problems I Avoid When Shopping for a Rental Property

Problems I Avoid When Shopping for a Rental Property

by Brandon Turner | BiggerPockets.com

Here are the Problems I Avoid When Shopping for a Rental Property.  The following are three problems I try to avoid when I look for a rental property. This isn’t to say I will never touch a property that has one of these issues, but there better be a really good reason for it, and I would have to factor it into my numbers.

1. Neighborhood

You cannot easily fix a neighborhood. Sure, you could join the local city council and start a neighborhood watch, but the neighborhood is not likely going to change because you want it to. Therefore, I don’t want to buy a property where the neighborhood will always be an unsolvable problem.

The property will continually be difficult to rent, the tenants will trash the house, I’ll have to deal with evictions and late rent, and in the end, the property’s value may never increase (and might actually decrease). I’m not saying I will only buy in a Class A neighborhood, but I’m definitely not going to buy in a Class D area.

vacancy-rates

2. Foundation Issues

Foundation issues scare me because they can be a money pit to fix, and the cost of a solution can sometimes eclipse six figures. This is especially true with foundation issues on a house with a basement or slab. I would also put any property that has water leaking in the foundation in this problem category and steer clear. Yes, there are investors who specialize in properties that have bad foundations, but for me, the risk is too great.

3. Shared Driveways

I once bought a nice house in a nice area that shared a driveway with a neighbor’s house. Literally, the two houses were 20 feet apart with the driveway in between, split evenly down the middle into “their side” and “my side.” When I bought the house, I didn’t see any issues with this situation, but within a few months I learned a terrible truth: the neighbor was a driveway hoarder.

He started to pile up garbage, boats, engines, tires, and everything else you could imagine in the driveway. Although he was polite enough to keep his junk on his side of the shared driveway, it made my property look incredibly bad, and we had a terrible time trying to rent or sell it. The junk in the neighbor’s driveway reduced the value of my property by 20%, and there was nothing I could do about it. Now I don’t buy properties where the neighbor could so easily affect my bottom line.

fha_financed_duplex

In addition to these three, there are other location-specific problems, such as being directly below a flight path or next door to loud/angry dogs. Likely, you’ll have your own list of “won’t touch” property features, and that’s OK. Success is found more often in what you say “no” to than what you say “yes” to. You don’t need to try to fix every deal you find. As the saying goes, “One man’s junk is another man’s treasure.”

 

What are your personal deal-breakers?

– Problems I Avoid When Shopping for a Rental Property – Problems I Avoid When Shopping for a Rental Property – Problems I Avoid When Shopping for a Rental Property –

 

 http://www.primetimemgt.com

Utah Landlords: Save on your water bill

Utah Landlords: Here’s how to save on your water bill.

No property manager wants to pay too much for water. However, if those costs aren’t kept in check through good practices, the results can be much worse than a costly bill.

Just ask the residents of a condo in DeKalb County, Georgia. In February, the condo’s property management company threatened to condemn the building and evict the residents if they didn’t pay — wait for it — a $130,000 water bill. The building’s owners paid $220 a month to the property management company, but the dues simply weren’t enough to cover the absurd water costs.

What kind of water situation leads to such a high bill? While it’s possible the association in DeKalb misused funds, sometimes the answer is simply that the charges really are that high.

Water usage skyrockets when tenants of a complex or association use too much water, don’t report leaks properly, or simply are unaware of a leak. As costs rise, the property manager often doesn’t have the funds to cover the unexpected bill.

That debt gets passed along to residents, which opens the door to a situation like the one in DeKalb County.

Keeping Costs Down

Every Utah landlord wants to avoid unexpected bills and angry tenants, while those same residents would rather not pay higher fees that go straight to the water company. This is precisely why property managers looking to maintain costs must make managing water usage a top priority.

In 2015, water prices rose at a higher rate than almost any other household expenditure. Some cities combat this rise with different pricing tiers, but simply charging people more for higher water usage doesn’t address the real issue. The solution isn’t to cause affordability issues; it’s to control water waste.

Property managers usually employ several strategies to manage water waste. But when the problem has so many potential causes, it’s hard to know which fixes are worth the money and which just cost more. Below are four potential strategies to curtail water usage, as well as an analysis of whether they’re worth the investment:

1. Ensure regular preventive maintenance.

Over time, the working parts and seals on toilets and other water-based devices deteriorate, especially toilet flappers. If the valve doesn’t let enough water through, residents will often flush multiple times and consume double the water. And if it lets too much water through, water is wasted with every flush. (Leaking flappers can also cause water to run constantly.)

To provide maintenance, property managers must include a clause in every lease that calls for regular inspections in every unit. After moving out, every faucet, appliance, and pipe requires a thorough check to ensure each works properly.

If you think you have a toilet leak, drop some food coloring in the tank. If the dye trickles into the bowl, replace the flapper. Also, keep a close eye on your shower diverters to make sure the water isn’t running to the tub while the shower is on.

Remember: The best way to solve a problem is to stop it from happening in the first place.

Verdict: Always worth the investment

2. Convert to more efficient equipment.

Many older toilets use 3.5 gallons of water per flush. However, the Energy Policy Act of 1992 lowered new toilets’ flush volume to 1.6 gallons.

This change didn’t just help the environment; it dramatically reduced water costs on newer toilets. However, much of the water that flows into a toilet tank during the fill cycle goes directly into the bowl, resulting in up to 1.5 gallons wasted for every flush.

Installing diverters can help this problem, but they’re not the best option for every toilet. Replacing toilets en masse can be expensive but saves more money in the long run.

To get the most bang for your buck, have a water savings expert examine water usage throughout the entire building. Wide-scale upgrades present high upfront costs, so it’s ultimately more cost-effective to hire someone who can analyze the property as a whole and suggest the most appropriate course of action.

Verdict: Worth the investment after an expert analysis

 

3. Submeter every unit.

Even for Utah landlords who don’t bill tenants for water, submeters are beneficial for monitoring usage. They let you see who uses the most water and when, and they identify potential new leaks or illegal devices.

The use of submeters to gauge volume and time of water usage also helps determine hot water usage, which affects an energy bill. With the cost of water and other forms of energy continuing to rise, attacking both fronts can help property managers save.

Unfortunately, putting submeters on older building can be a major hassle. Installation usually involves going under the floors and behind the walls, which makes the cost prohibitive to the potential savings.

This strategy is effective for newer buildings, but it can be challenging in those that older.

4. Find and fix every leak and drip.

Without a water monitoring service, you won’t be able to detect problems as they happen. Inspecting your units is the best way to find the leaks immediately and fix the problem.

Doing unit inspections more than once a year are impractical and costly. A water monitoring service alerts you to leaks and other waste problems. This, along with an inspection service, helps you prevent, detect, and repair leaks and waste.

Along with a full-on leak repair initiative, educate residents on the importance of reporting leaks and defects. Hang fliers and show residents how quickly you respond to the problem once they bring it up.

Verdict: An inspector is worth the investment when combined with a water monitoring service. Educational campaigns cost next to nothing and should be part of any strategy you decide on.

Utah landlords don’t have to fix the world’s drought problems, but they do suffer from inefficient water usage more than others. Rather than make tenants uncomfortable or penalize water usage, simplify water conservation and invest in a sound infrastructure to lower present and future costs.

Home

– Utah landlords – Utah landlords – Utah landlords – Utah landlords – Utah landlords – Utah landlords – Utah landlords – Utah landlords – Utah landlords – Utah landlords – Utah landlords –

Summer Fun in Provo?

Summer fun in Provo?  We are almost to the end of July, and it seems like only yesterday the kids were getting out of school.  We only have 57 more days to enjoy the summer, so here is a list of 57 fun things to do in Provo, UT.

  1. Visit the BYU Arboretum & Duck Pond
  2. Hike Mount Timpanogos
  3. Go ice skating at Peaks Ice Arena
  4. Visit the Monte L. Bean Life Science Museum
  5. Grab waffles at Waffle Love or Bruges
  6. Go hiking at Y Mountain
  7. Check out Bridal Veil FallsProvo Summer Fun? Visit Bridal Veil Falls in Provo Canyon.
  8. Watch a performance at the BYU Harris Fine Arts Center
  9. Go white water rafting or ride the zipline over Provo River with High Country Adventure
  10. Visit the Utah Valley Visitor’s Center on Center Street for tourism information
  11. Get cultured at the BYU Museum of Art
  12. See dinosaurs at the BYU Museum of Paleontology
  13. Take the Historic Provo Buildings Walking Tour
  14. Watch a music, theatre or ballet performance at The Covey Center for the Performing Arts
  15. Visit the BYU Museum of People and Cultures
  16. Slip n’ Slide at Seven Peaks Resort Water Park
  17. Go on a zipline ride at Max Zipline
  18. Catch a wave at Provo Beach
  19. Visit the Crandall Historical Printing Museum
  20. Watch an interactive comedy show at Comedy Sportz
  21. Go bowling at Fat Cats
  22. Play Glow in the Dark mini golf or laser tag at Laser Assault or Command Deck
  23. Get sailing lessons from Bonneville School of Sailing
  24. Check out a book or movie at the Provo City Library
  25. Soak in the ambience at Station 22
  26. Go shopping at the Shops at Riverwoods
  27. Go fishing, jogging or biking along the Provo River
  28. Buy some local produce at Provo Farmers Market from May to October
  29. Visit Cascade Springs – http://www.utahoutdooractivities.com/cascadesprings.html
  30. Ride your bike on the Provo River Trail
  31. Camp out in the Uinta-Wasatch-Cache National Forest
  32. Go shopping at Provo Town Centre
  33. Go cross country skiing at the Sundance Nordic Center
  34. Attend the Utah Lake Festival at Utah Lake State Park
  35. Attend the Downtown Provo Art Gallery Stroll
  36. Paint your own ceramics at Color Me Mine
  37. Visit the Daughters of the Utah Pioneers Museum
  38. Go golfing at East Bay Golf Course
  39. Go hiking at Rock Canyon
  40. Have a fancy night out at Slate Restaurant
  41. Go and see the stars at BYU’s Planetarium show
  42. Check out the Morinda Gardens
  43. Go mountain biking on one of 30 local trails
  44. Take a tour of the NuSkin headquarters
  45. Go for ice cream at Sub Zero Ice Cream, BYU’s Creamery, Rockwell Ice Cream Co. or Ike’s Creamery
  46. Play a game of soccer or go sledding at Rock Canyon Park
  47. Take a drive up Squaw Peak road and get a great view of the valley at the lookout point.
  48. Visit the Museum of Mormon Mexican History
  49. Go rock climbing at The Quarry
  50. Have a picnic at Lion`s Park.
  51. Go shopping at the IFA Country Store
  52. Go for a hike at Slate Canyon
  53. Experience what life was like as a pioneer at Pioneer Village
  54. Go fishing, water skiing, boating, camping, picnicking, ice skating or ice fishing at Utah Lake
  55. Party at the Utah Pasifika Festival, a two day festival featuring dancing, music, food and craft booths celebrating Polynesian cultures
  56. Put on your costumes and run in the Halloween Half Marathon
  57. Visit Fort Utah

Summer fun in Provo!

 

Bret Clark

www.primetimemgt.com

 

Summer fun in Provo – Summer fun in Provo – Summer fun in Provo – Summer fun in Provo – Summer fun in Provo – Summer fun in Provo –  Summer fun in Provo –  Summer fun in Provo

Grab a Donut in Provo, Utah

Best places to grab a Donut in Provo, Utah

Mornings can be rough, however there is no better way to start your day than with a donut from one of these hotspots in Provo.

The Provo Bakery 

This list would frankly be fraudulent if it didn’t include The Provo Bakery. The quaint little shop has been serving up some of the valley’s most mouthwatering donuts for more than 50 years. If I were forced to pick, I’d recommend indulging in the buttermilk bar or the seasonal pumpkin spice donut, then proceeding to try all of the other donuts at some point, of course. Go early in the day before the best stuff’s gone!

190 E. 100 North, Provo, 801-375-8330, theprovobakery.com

BYU’s Sugar and Spice 

In case you didn’t already know, BYU has its own bakery and makes a mean old-fashioned donut. The thing is moist, dense and pairs perfectly with a BYU Creamery chocolate milk. If you don’t want to go all the way into the Cougar Eat, you can nab a donut at the BYU Creamery on 9th east.

Located on the BYU campus, inside the Wilkinson Center’s Cougar Eat, (801) 422-3111

Macey’s

One of Macey’s new advertising taglines is, “I need a Macey’s donut right now!” I’ve found myself saying that  phrase in my head on several occasions. It seems especially relevant when I’m in the grocery store with my little kids, a long shopping list and a short fuse. The donuts are fresh, there are lots of flavors (can’t beat their classic maple bars). I’ll never forget the time I earned my own money as a little girl to buy one of their huge Texas donuts, which is pretty much five donuts in one. And I’m pretty sure I ate the whole thing myself. I told you this was a lifelong addiction, didn’t I?

880 N. State Street, Orem, and other Utah County locations, (801) 225-6002, maceys.com

Day’s Market 

Like Macey’s, Day’s Market’s donuts deliver the kind of fresh, donutty comfort you’d expect from a quality local store’s bakery. I initially discovered them when I needed a conveniently located bribe for my daughter to go under water during her first swimming lesson, and we have been back many-a-time. The toasted coconut donut is a winner in my book.

3121 N Canyon Rd., Provo, (801) 375-7960, daysmarket.com

Downtown Provo is Cool.

EXPEDIA NAMES DOWNTOWN PROVO AS ONE NORTH AMERICA’S COOLEST

MAY 9, 2017

A recent article published on the travel website Expedia.com lists Downtown Provo as one of the coolest in North America! With Utah Lake to the west, Y Mountain to the east, and Brigham Young University to the north, downtown Provo is both historic and eclectic. Students and travelers alike pore over the shelves in search of literary gems at Pioneer Book, and every Thursday the Provo Food Truck Roundup fills the streets with good eats.

What makes Provo Cool?

Find your chill: Chocolate gets a bad rap as indulgent and “sinful,” but the Taste chocolate factory gives downtown Provo its heavenly scent. Follow your factory tour with a healthy drink from Ivie Juice Bar and go from naughty to nice.

A total of 19 cities made the list, including Cancun in Mexico, Old Pasadena in California, Boston in Massachusetts, Grand Junction in Colorado and Tarrytown in New York.

How did they choose a winner?

So what’s their criteria for coolest downtowns? One-of-a-kind dining options, local arts venues, unique shopping experiences, fascinating historical sites, and access to urban greenspace. You’ll find some of your favorites and a few unexpected gems, and a locally loved place to hit “refresh,” so pack your fabbest street style and get ready to visit some hot cities with cool downtowns.

Congratulations to Provo city on receiving this honor.  If you haven’t been downtown lately you are missing out.

http://www.primetimemgt.com
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How to find pet friendly housing in Utah?

Pet friendly housing in Utah.

How to find pet friendly housing in Utah?

Finding an affordable and comfortable pet friendly housing can be an incredibly time-consuming process.

That’s what Nicole Myers, owner of a 90-pound Rottweiler mix, experienced during her recent Provo city rental search. She was planning to rent near BYU and began her search by looking at pet-friendly apartments.

“I couldn’t find a single place that would accept my dog. She’s perfectly well-behaved, but a lot of the places that bill themselves as pet-friendly have restrictions about types of dogs they will accept,” she said. “Eventually we concluded we weren’t going to be able to find a rental because of our dog. Now we’re looking at real estate to buy.”

It’s not uncommon for apartment communities — even those that are pet-friendly — to have many restrictions. So, what’s the owner of a pet to do?

Look into single-family rentals

Large apartment complexes are mostly likely to have size and breed restrictions in their pet policies. Landlords of individually-owned properties are more likely to be flexible and accept pets on a case-by-case basis. Use keywords like “pet friendly” or “dog friendly” in your search filter to narrow down rental listings.

Use advocacy groups as a resource

There are plenty of other dog owners who have been in your shoes. The Humane Society of the United States has a list of tips for finding rental housing with pets. Your local animal shelter, breed rescue or advocacy group likely has a list of apartment communities that will accept your specific pet. For example, the website My Pit Bull is Family has a list of pit bull-friendly rental housing providers in each state.

Find Pet friendly housing in Utah.

 

Have all your documents prepared

In addition to preparing documents like obedience training and vaccination records, ask your landlord or veterinarian to write a reference for your pet, vouching for your pets behavior.

“A reference from a previous landlord can be huge in changing the mind of the landlord,” said KC Theisen, director of pet care issues at the Humane Society of the United States. “One other thing I recommend, in addition to pet resumes and references is a pet interview. If your dog is a great dog, offer to bring them by the rental office for a meet and greet. It’s very hard for a landlord to look at a sweet, well-mannered dog in the eye and say no.”

Plan extra time for the search

Understand that finding a rental with a pet may not be easy. Allot additional time to find the right home for you and your animal. If you’d normally give yourself one month to find an apartment, double that to two since a good majority of rentals won’t be pet-friendly. If you really need extra time, consider getting a short-term rental and boarding your pet while you continue your search.

Be flexible

Finding pet friendly housing may require flexibility on your end. Understand that you may be required to pay an additional pet deposit, pay extra for insurance, or even rent on a month-to-month basis until your pooch earns the landlord’s approval. Follow the pet guidelines to show that you and your pet are model tenants and willing to work with the landlord.

As you look for a place to rent, above all, sell yourself as a responsible pet owner.

Do you have any tips for finding a rental with your pets? Share your experience with us in the comments below.

 

Prime Time Property Management
1145 S 800 E #150
Orem, Utah 84058
www.primetimemgt.com

 

Retirement… Should I own Utah Real Estate?

Utah Real Estate  –  Retirement

Should I own Utah Real Estate for Retirement?

Why Utah Real Estate could be a good idea for Retirement:

1. The more kinds of investments you have, the better.

Diversification is important, especially when you’re saving for something so far into the future. You invest in a variety of stocks because when one sector falls, others hopefully don’t. And you invest in bonds because they aren’t as volatile as stocks, and tend to move in the opposite direction. Diversification reduces the risk of losing a big chunk of money at once.

“Utah Real Estate is great for adding diversity to your portfolio. It’s tied to the market like anything, but it’s not going to be correlated the way stocks and bonds are,” said Bret Clark.

He said not to expect property value or rent to ever jump significantly. While that sometimes happens, steady growth over time is more likely.

2. The second and probably more obvious benefit is the cash you’ll get from charging rent.

In the beginning, you won’t see a lot of this money. First, you have to cover your mortgage payments. Then you have to pay for things like insurance, taxes and any homeowner fees. Expect those three expenses to take up at least 25% of the rent.

And don’t forget about the cost of any maintenance the property needs or gaps between tenants. She suggests putting aside some money from the rent to build an emergency fund.

But hopefully you’ll have paid off the mortgage in 30 years and by the time you retire. If you choose to continue renting out the home, you’re looking at a stream of income. Or you could choose to live in the home or sell it altogether.

Why it might not be for you:

1. Surprises. You never know when the AC might break, the roof could leak, or a pest problem could turn up.

2. Becoming a landlord can be a lot of work. “There’s always the worry that you can’t find a quality tenant. Finding tenants, processing their applications and running background checks is definitely time consuming,” Kirchhoff said.

You could hire a management company to do that work, but that will eat up even more of your rental income.

3. It’s a big commitment. You’re not tied to contributing to your 401(k), IRA or mutual fund. But that’s not the case with a rental property, said Coleman. You must pay the mortgage, taxes and insurance. And if the roof leaks, you have to fix it.

 

 

 

 

 

 

If you decide to invest in Utah Real Estate for Retirement:

1. Build an emergency fund separate from your personal savings. Save at least the amount of the highest deductible on your insurance policy.

2. Do your research. There are different laws in different states that landlords have to follow.

3. Be prepared to put at least 20% down when buying a property you’re going to rent.

 

Utah Real Estate for Retirement
www.primetimemgt.com

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