Real Estate Investing Tips
10 Lethal Mistakes Real Estate Investors Make
10 LETHAL MISTAKES REAL ESTATE INVESTORS MAKE NO PLAN! Rental Properties are a business- not a one-time transaction. Look at owning the property as a long-term investment (20 plus years). If you were going to be involved in a business for over 20 years, wouldn’t you have a plan? How many properties do you want…
Read MoreWhat Upgrades do Professional Property Managers Suggest?
When a rental unit goes vacant at Simple Property Management, the big question we get is, “What upgrades should I do?”. As a professional Property Management Company, we know what pays and what doesn’t. The first thing to look at when deciding on your upgrades is current rental rate and what you want the new…
Read MoreRenters Insurance
SIMPLE PRROPERTY MANAGEMENT GETS A LOT OF QUESTIONS ON RENTERS INSURANCE. WE RECEIVE THE QUESTIONS FROM TENANTS AND OWNERS. TENANTS Simple Propety Management, a Grand Rapids Property Management Company, requires tenants to have renters insurance. This is because is protects both parties. From the tenant perspective, if there is a loss it may or may…
Read MoreHow to Budget for Capital Expenditures
CAPITAL EXPENDITURES- PROPERTY MANAGEMENT SERVICES We get tons of questions on capital expenditures. When we get a call for property management services in Grand Rapids, we also get questions on capital expenditures. Want to learn about capital expenditures? Read below! WHAT ARE CAPITAL EXPENDITURES? Capital expenditures are items that cost you money, but are not…
Read MoreDon’t Forget to Budget for These Items on Your Rental Property in Grand Rapids
As a professional real estate management firm in Grand Rapids MI, we see many things that owners forget to budget for. Below is a list of items to make sure you budget for when purchasing a rental property. TAXES If you decide to rent out your own home, it is no longer 100% homestead. This…
Read MoreHow Well Do You Know Your Rental Property?
RENTAL PROPERTY TENANTS- IMPORTANT ITEMS TO KNOW It is important to take the time to know where important items are in your rental property in case of emergency. Since it is easy to forget where these items are, it’s a good idea to refresh your memory. Water Shut Off Valves- Most rental properties in Grand…
Read MoreDetails to Check When Purchasing Rental Property in Grand Rapids MI
DETAILS TO CHECK WHEN PURCHASING A RENTAL PROPERTY IN GRAND RAPIDS, MI We put together a list of things we feel are important when looking to purchasing rental property in Grand Rapids, MI. These may not be deal breakers for you, but they are things that we see investors miss when looking at a property. OUTSIDE CONDITION Is…
Read MoreRental Property Water Bills
Rental property water bills can be a challenge! As a property manager in Grand Rapids we know that the water stays with the property, not the tenant. That means if the tenant moves and doesn’t pay their water bill, then you (the owner) must pay it. To counter this, make sure in your lease that the…
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