Investment Properties
Being a Landlord

There are many advantages to owning investments properties, and The PescatoreAvrit Team would love to help you if that is your goal. Terri and Jane own many investment properties themselves, and are very knowledgeable if you need advice, or just want to find out more about the process. For those who want the benefits of owning investment properties, but don’t want the hassle of the duties of a landlord, the PescatoreAvrit Team offers property management. Below is a list of our services and fees:

• Management Fee: 10% of monthy rental amount
• We receive the rent for the property and mail the owner the rental amount less management fees on or before the 5th day of the month.
• Handle all correspondence with the tenant including arrangements for any repairs necessary etc.
• Make sure all HOA rules and regulations are followed
• Send out a monthly income/expense statement to the home owner
• Start eviction proceedings if necessary

Contact us today if you’d like us to manage your investment property, or if you need help finding a home to purchase as an investment you can contact us for that as well……our services for buyers is FREE!

Do you really want to be a landlord?

     Owning a small rental property is one way of achieving the dream of homeownership. But, in buying a small rental property you not only become a new homeowner, you also take on the responsibilities of becoming a landlord. Your rental property is not only your home, but also your business. As a business owner, you must adhere to the laws, rules, and regulations that govern rental housing, and have a clear understanding of appropriate rental rules and practices.

     Prior to making the decision to buy a small rental property, you should assess your willingness to

• Share your home with others
• Devote time and hard work to manage your business
• Make repairs and maintain your property
• Provide services to your tenants
• Become familiar with state, local, and federal laws and regulations regarding landlord and tenant relationships

Advantages of owning a small rental property

     There are many good reasons to own a small rental property. Some of the benefits that you may expect are:

A Place of Your Own

• Owning property gives people the feeling of permanence and involvement in the community.

Financial Incentives

• Monthly mortgage payments may be more manageable due to rental income. A portion of the rental income also may be used to make repairs and maintain the property.
• Rental income may enable a household to become homeowners that otherwise could not afford to own a home.
• In addition to the deductions for mortgage interest and taxes, landlords are eligible for additional tax advantages.

Possible drawback of owning a small rental property

Along with the benefits of owning a small rental property, there also are increased responsibilities and possible drawbacks:

Financial Obligations

• You are responsible for the full mortgage payment even if your tenant does not make his/her rental payment or your rental unit is vacant.
• You will need to budget for unexpected expenses. For example, you may experience problems with tenants and may have to incur legal expenses.

Repairs and Maintenance

• Maintenance and repair costs often can be substantial. However, you must keep rental units in good condition.

Legal Obligations

• You must have a clear understanding of laws, rules, and regulations that govern rental housing. You are liable for any lawsuits and may end up before a state or federal housing agency for complaints filed as a result of your failure to adhere to these laws, rules, and regulations.

24-Hour Availability

• You must make yourself, or someone you designate to act on your behalf, available to your tenants 24 hours a day in the event of an emergency.

To Access State Statues

• Go to www.findlaw.com
• Click on state laws link under Laws: Cases and Code
• Select your state and click on it
• Choose the link that will take you to the state statutes or codes.
• Select the state statutes or codes
• Searach for your statute by key word or statute number and click “find statute” or you can browse through the table of contents, which is linked to the codes.
• Click on the statute.