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Kerry Zeckman

millenials renting instead of buying

Why Are Millennials Renting Instead of Buying?

By | Renting | No Comments

millenials renting instead of buyingAccording to a new survey from Apartment List, more millennials plan to rent not just in the short-term, but forever. What are the reasons behind this change in housing choice? And, how can you leverage the trend to fill your property with high-quality tenants? Keep reading for the details that can help you grow your rental property ROI in 2021 and beyond.

Rent vs. Buy: Understanding the New Trend for Millennials

Housing prices continue to climb steadily, and the twenty-something crowd desires flexible housing options. That’s why more and more millennials are turning to rentals instead of home purchases. Affordability is the primary reason. While some in this age group may eventually purchase a home, many say they plan to rent indefinitely.

The biggest obstacle to home ownership is the costly down payment. Financial burdens like student loans, high living costs, and other economic struggles make purchasing a home more complicated than it was for previous generations.
Still, other Millennials aren’t interested in purchasing a home at all. They prefer the flexibility of renting. There are fewer maintenance expenses associated with rentals and less overall responsibility. This makes renting appealing to busy people who are trying to establish careers and begin families.

Choosing Life in the Suburbs Instead of in Metro Atlanta

Another trend relevant to local property owners is the fact that people are moving out of Atlanta and into the suburbs. As people learn to live the new normal during the COVID-19 pandemic, they find suburban life more appealing. Less crowding makes it easier to enjoy life while adhering to social distancing guidelines. According to the Washington Post, COVID-19 has been a catalyst for people from all generations, especially Millennials, to move out of metropolitan areas.

The perks of city life are  waning due to business closures and social distancing. People believe they can experience a better quality of life in the suburbs. Other contributing factors include a lower cost of living and better public schools.

How to Leverage the Trends for Your Alpharetta Rental Property

Now is the time to make sure you reach all of the best potential tenants seeking optimal renting opportunities in Alpharetta and surrounding communities. At Vineyard Property Management, we have the streamlined solutions in place to help you find the cream of the crop to fill your properties. Our in-depth screening and vetting process enables you to attract and maintain the right renters for your property, reducing your risk and maximizing your profit.

Connect with us now to get a free rental analysis and property management quote for your Alpharetta property rental. Our experts are here to give you peace of mind and a more secure investment by connecting you with Millennials renting instead of buying as well as other ideal tenants.

benefits of tenant screening services

The Benefits of Tenant Screening Services

By | Property Management Company | No Comments

benefits of tenant screening servicesAs a property owner, one of the most challenging and time-consuming aspects of your job is finding the right tenants for your property. You’ve likely experienced firsthand how problematic tenants can lead to endless hassles, including property damage and nonpayment. Taking advantage of professional tenant screening services will save you time while helping you achieve a profitable property. Let’s take a closer look at the benefits of screening services and what you can expect when you let an expert team handle tenant screening and selection.

What Is a Tenant Screening Service?

A property tenant screening service takes care of all the tasks of sorting through tenant applications and vetting the best candidates to live on your property. Rather than going through applicants on your own, you can turn to an experienced property management team that knows the qualifications and characteristics of top-quality tenants.
These are professionals who use proven methods and criteria to help you avoid filling your property with poor tenants who will drain your time and resources. They will run extensive background and credit checks and even gather information from former landlords to determine a candidate’s likelihood to pay and be a positive member of your community.

Trying to handle these tasks on your own can feel like a full-time job that takes away from other essential duties. With a screening service, you’ll be able to focus on other details that benefit your business, while the pros make sure you have the most desirable tenants for your property.

Finding the Best Tenant Screening Service

For property owners who have tried to do it all themselves, turning the tenant screening over to someone else can feel like a big, sometimes scary step. Choosing a professional, experienced tenant screen service with a track record for success will put your mind at ease. A rigorous screening process will enable you to enjoy a reliable stream of revenue with minimal tenant problems.

Turn to Vineyard Property Management for a Reliable Tenant Screening

At Vineyard Property Management, we provide critical screening services to uncover potential problems with a tenant candidate’s background, including legal issues, lease breaches, and poor credit history. We have the tools and processes necessary to ensure thorough screening of all tenant prospects. By verifying information such as income, employment, and references, we help you achieve a higher return on investment for your property.

When you can trust this vital process to our team of experts, you’ll know you are positioning your rental property for success and profitability. We bring more than 40 years of professional industry experience to your property. Connect with our friendly Alpharetta rental property management team today to get started with a free rental analysis to experience the benefits of tenant screening services.

rental property analysis

Is Your Rental Property Analysis Giving You the Results You Need?

By | Property Management Company | No Comments

rental property analysisIf your rental property analysis isn’t helping your property investment to be more profitable, it’s missing the mark. An effective analysis will help you maximize your return on investment and minimize the risks of investing in the wrong property. Keep reading to learn the benefits of knowing how to use the right rental property analysis to increase your bottom line.

What Is a Rental Property Analysis?

An analysis of a rental property allows you to analyze an investment property opportunity to assess whether it is a worthwhile investment or one that’s not worth your time and money. Before you purchase a property, it’s essential to conduct an analysis to determine how much you can expect to make from it as a rental.

The right analysis will feature key metrics and factors, including:

Location—a good location is critical to your income property. Knowing all the area’s details and the residents seeking housing will help you understand how much you can charge and what you can expect to make.

Type of Property—certain rental properties will perform better in certain locations. An analysis of the property will enable you to utilize comparative market analysis to identify the local market competition and determine whether this specific property is a wise investment.

Ideal Tenants—these are the people who will be helping you pay off your mortgage, so it’s critical to identify your target tenant market. An analysis will help you to tailor your marketing efforts to reach them more effectively.

Rental Income—the cash flow must be there in order to have a successful investment. Through this analysis, you will identify the profitability of the property you are considering for purchase.

Occupancy Rates—make sure the rate is 100% or close to it for the best results. You will count any vacancies as an expense.

Cap Rate—this metric indicates a property’s overall profitability. You’ll know how much profit you can expect to make each year so you can compare it to the property’s price.

How to Get Results from Your Rental Analysis

If your current analysis process isn’t helping you make profitable rental property investments, it’s time for a change. At Vineyard Property Management, we are dedicated to helping our clients boost their bottom lines through exceptional property management services and expert guidance when making purchasing decisions.

Having a regular analysis isn’t good enough if you aren’t reaping the financial rewards. We provide a free rental analysis and will ensure your rental properties are successful. Our property management experts bring more than 40 years of professional industry experience to your investment. From helping you select the right tenants to keeping your property in pristine condition, we handle all the details for you.

Get Your Free Analysis Today

Ready to start seeing big profits with your investment properties. Connect with us online now or call 404.788.3657 to boost your business with a complimentary rental property analysis.

Top HOA Violations You Need to Avoid

Top HOA Violations You Need to Avoid

By | Property Management Company | No Comments

If you’re renting or buying a home in a community governed by an association, it is important to know the top HOA violations you need to avoid.

Moving to a new home is always an exciting adventure. You find the perfect house in the perfect neighborhood. You make plans to make it your own, and dream of the future. However, if that neighborhood comes with a Homeowners Agreement, (HOA), there might be some conditions or restrictions that you should know about before you sign on the dotted line.
Top HOA Violations You Need to Avoid

Here are some of the most common violations:

Vehicles & Traffic

Speeding or reckless driving, especially in a residential neighborhood, is never a good thing. An HOA may choose to have its own regulations and fines for violations. Typically, HOAs prohibit parking a commercial vehicle, recreational vehicle, or a boat in front of your house. Owners may face the expense of having that vehicle towed.

Yard & Garden

Keeping up with weeds can be a full time job, but some HOAs require homeowners to keep gardens weed free. An HOA may address pruning, mowing, and even the types of plants and trees allowed in the front yard.

Trash & Recycling

Often there are time limits for trash bins to be visible or on the street. Having the bins out too early or left out too late can result in fines from the HOA. Trash containers should be stored in the garage. Don’t leave them out in driveways or on the side of the house.

Pets

For everyone’s safety, it is important to walk your dog on a leash and only in the designated areas. It is also essential to clean up after your pet and properly dispose of waste. Some HOAs have restrictions on the size of a pet (usually a dog) that they allow. Invest in training so that your precious pet doesn’t bark and create a noise nuisance that your neighbors will object to. It would be horrible to have to choose between your home and your pet.

Happy Holidays

Many associations have restrictions on the timeliness and types of holiday decorations. These usually pertain to flashing lights or music that might annoy neighbors. Leaving decorations up too long also creates problems. Thirty days before and thirty days after is a reasonable time to celebrate a season.

According to the Community Associations Institute, more than 69 million Americans live in community associations. If you are considering renting or buying a home in a neighborhood governed by a community association, be sure to read the fine print. Familiarize yourself with the “CCRs”, the Covenants, Conditions, and Restrictions laid out in the HOA. If you know the rules, you can abide by them and save yourself the inconvenience of receiving an unpleasant letter or fine.

At Vineyard Property Management, our trained experts can advise and explain the HOA violations you need to avoid at any of our properties. Contact us today for more information.

Tax Advantages of Owning a Rental Property

What Are the Tax Advantages of Owning a Rental Property

By | Property Management Company | No Comments

Do you know about the most popular tax advantages of owning a rental property? As it turns out, being a landlord works in your favor come tax season. Sure, buying a home is a considerable investment. But, if you can make money off of that investment, you’ll see an even bigger return when your taxes are due. Don’t forget to ask your tax advisor about these deductions the next time you file.

Tax Advantages of Owning a Rental PropertyMortgage Interest

If you have a mortgage on your property, you’re paying a hefty amount in interest every month. The good news is that you’ll most likely be able to deduct this amount from your taxes. Why is that? Since you are operating the property as a business, it counts as a business expense. Be sure to save your Form 1098 at the end of the year, so you know how much interest you paid. Your tax advisor will help you claim this deduction on the correct tax line.

Property Depreciation

You can deduct the purchase price of your property from your taxes. Be careful when you do this, however. You can’t claim the entire amount at once. Instead, the value depreciates over 27.5 years. The longer you own the rental property, the more money you’ll get back in return. Even if the market value of your home goes up, the depreciation amount will stay the same.

Repair Deductions

As a landlord, it’s up to you to provide your tenants with a property that is in good condition. To do this, you’ll inevitably need to make a few repairs or upgrades throughout the year. While maintenance costs come out of your pocket, you can deduct these expenses from your taxes. Some common repair expenses include buying new lightbulbs, replacing a broken window, or fixing the stove.

However, you cannot deduct all maintenance costs this easily. Some more substantial expenses, such as replacing the roof, count as a capital improvement. These get depreciated over time. Once again, a tax expert can help you determine which repairs fall under which category.

Administrative Costs

Being a landlord is a business. Whether you do it full-time or not, you can still deduct any administrative costs from your taxes. These may include travel, advertising, or office expenses. If you work from home, you can even claim a home office. Be aware, however, taking the home office deduction may trigger an audit. Always keep receipts and records to validate your expenses. And, make sure to consult with a tax advisor when filing.

Make Sure Your Rental Stays Occupied

Of course, these deductions mean nothing if your property is vacant. That’s why you need to make sure you keep it occupied with reliable tenants. Vineyard Property Management can help you do just that. We offer many property management services, including leasing, accounting, and maintenance. We know how to find and keep trustworthy tenants! If the tax advantages of owning a rental property caught your attention, then connect with us online to quickly fill your rental vacancy.