Making Stairs Safer in Your Rentals

 

Landlords renting out two-story properties must keep the safety of the tenants in mind when it comes to dealing with the stairs. The safer the stairs are, the more comfortable tenants will feel in their home. Keeping tenants safe is the utmost priority for landlords. Keeping the stairs in your rental safe is a great way to start safety-proofing your rentals.

The following are some great tips to help keep the stairs in your multi-story rental as safe as possible for your tenants:

Install Sturdy Handrails:

Providing your tenants with sturdy handrails to use while they climb up the stairs is one of the best ways that you can help prevent falls in your rentals. Some tenants who have problems walking, climbing, or with their balance may need the assistance of a railing to move safely throughout the home.  Extending the handrail or a safety bar past the last step at the top or bottom of possible to help those who need additional assistance.

Choose Quality Flooring:

When looking at the stairs, you want to choose floor material that helps the tenant maintain their footing while climbing the stairs. Choosing a contrasting floor color can help your tenant clearly see each step. It helps to choose a non-slippery finish to your floor so that clients do not slip or fall while climbing or descending the stairs.

Install Permanent Carpet Runners:

If your staircases have a wood flooring, then you want to consider installing a permanent carpet runner on the stairs. Carpet is much easier to grip onto than hardwood with a slippery wax or finish to it. Permanent carpeting will stay put when people are on the stairs. It will also not rumple to avoid the person slipping or falling. 

Lighting:

Providing good lighting in the area where the stairs are will help people clearly see where they are going. The lighting can help people see that they have sure footing and keep their step steady as they go up or down the stairs. Make sure that there are no glares that keep people from clearly seeing where they're moving to. 

Stair Inspection:

Having your stairs inspected by a certified inspector can help ensure that your stairs meet building and safety codes for your area. Tenants will rest with peace of mind knowing that the stairs in their homes are up to safety standards. It can also help keep you as a landlord out of hot water if a tenant were to fall while living in your rental property by proving that your home upheld the required safety standards in your area.

Consider Lifts/Alternatives:

Some tenants may not be able to use stairs at all. Consider having alternatives available such as lifts to help your tenant navigate your multistory properties. Proper working equipment to assist tenants will ensure their safety in their home.

Conclusions:

These are some great tips to help keep your stairs safe in your rental properties. Limiting falls and helping keep tenants safe is key for landlords who own multiple-story homes. The safer tenants feel, the more likely you are to earn a good reputation as a caring landlord, and the more likely people are to rent your multi-story properties.

Landscaping Strategies for Easy Rental Property Maintenance

Renting homes to tenants involves more than providing places to live. A great rental property is designed to be beautiful, enjoyable, and low-maintenance for everyone involved. This applies not only to the home, but also to the surrounding yard. Smart landscaping can allow tenants to enjoy a great yard without constant maintenance or landscaping services needed. Today, we're covering three low-maintenance and easy rental property landscaping strategies.

 

Flowering Bushes

Bushes are, by far, the best way to create privacy and dynamic landscaping for little-to-know maintenance is flowering bushes. The right bushes will depend on your region. Ideally,  look for fluffy bushes that have soft leaves and non-spiny bark. Flowering bushes are best because they can be decorative, sometimes for most of the year, as well as providing a bit of privacy and greenery.

Flowering bushes may only need to be trimmed once or twice a year, something your tenants can choose to do or you can send someone around for. This type of landscaping doesn't even require a service, just a property manager with a pair of clippers. Flowering bushes are both attractive and low-maintenance.

 

Xeriscaping

There is a new trend in home landscaping called xeriscaping. This is a method of choosing plants that need very little water and very little maintenance. Depending on your climate, xeriscaping might involve year-round plants that survive well in the local climate or you might create a lovely array of cactus and succulents.

Xeriscaping creates interesting and shapely landscaping designs that are not soft, but they do look good and require minimal care.

 

Decorative Mulch and Gravel

Finally, there's the landscaping option that involves little to no plants at all. Decorative gravel or colorful mulch can be used to make a rental home's yard attractive, but in no need of watering or trimming. Woodchips, asphalt shreds, and mulch might be used, for example, in a backyard with an installed playground instead of grass or flowerbeds that need tending. Shapely beds of gravel can create aesthetic patterns in the yard and beautiful curb appeal with no plant-maintenance required. You can also use spacious gravel or mulched flowerbeds between well-spaced low-maintenance plants like trees or bushes.

 

Landscaping your rental homes doesn't have to require constant mowing or care from your tenants or from property management.

Top Basement Renovations with Highest ROI for Flipped Properties

Flipping a home is all about making the smartest choices for your ROI. Investments are only profitable if they proportionately increase the home's value in the next sale. A basement in your flip-project home can provide huge potential, but only if you put it to good use. Finishing a basement or renovating a finished basement can be a boost to your ROI if you make the right upgrades. Let's take a look at the top 3 high-ROI ways to upgrade your flip basement.

 

Finished Living Space Ads Square Feet to the Home

Taking a basement from unfinished to finished has inherent value. Good-quality walls, floors, and ceiling alone can transform a musty storage space into additional square feet of living space. Unfinished basements are not supposed to be listed as square feet of the home because it is not livable. But a finished basement can be an extended living room, den, craft room, or even suites for bedrooms. The square feet alone will increase the selling value of your flip.

 

Additional Bedrooms and Bathrooms

Everyone knows that home value is calculated by the bedroom. A five-bedroom home has greater value in most neighborhoods than a three-bedroom house. Consider transforming a finished basement into one or more additional bedrooms, turning the basement into a darker, quieter place to sleep for new owners with a big family. Extra bathrooms are also inherently valuable. Not only is there another bathroom in the house stats, but a bathroom in the basement ensures convenience of a bathroom on every active floor.

 

Basement Apartment Suite

You can even renovate the basement into a separate suite, like a mother-in-law suite or a space ready to be vacation-rented by the next owners. Basement suites are great for subletting, roommates, or families with teenagers. Not to mention the additional value of another bedroom, bathroom, living space, and/or kitchenette.

 

Best Carpet Colors for Rental Properties

Choosing the right flooring for your rental properties can be a challenge. For living spaces and bedrooms, carpet is often a welcoming choice. The real challenge is choosing the right carpet color and pattern for your rental home. The key is choosing a carpet that is durable, stain-hiding, and creates a canvas for the lives of your tenants.

Here are a few basic tips for choosing the right carpet color for rental homes.

KEEP IT IMPERSONAL WITH NEUTRAL SHADES

Any vivid hue may be a dream carpet for some tenants and a turn-off for others. Color is deeply connected to our personality and self-identity. That's why rental homes should feature neutral-tone carpets in the gray and beige range with undertones of accent colors.

WARM OR COOL CARPET COLORS

Most homes are designed with a subtly warm color scheme. Our lights are a warm yellow-white and wood features in a home are always warm browns. In this design scheme, a carpet that is beige with warm undertones is the better choice. Beige with accents of yellow, orange, and red are warm colors.

In homes with a cool theme with silvered metal and blue-gray paint, the entire design might be cool colors. In this case, choose a soft gray with blue, green, or purple undertones. Blue is the most commonly appealing color.

USE DARKER CARPET SHADES IN THE BEDROOMS

If you use similar carpet of a slightly darker shade in the bedroom, this will create the impression of a more lush environment. Bedrooms will have a psychological transition in the colors of the floor, and stepping into a bedroom will feel like a more personal transition.

SUBTLY IRREGULAR PATTERNS HIDE SMALL STAINS

Last but not least, choose a carpet with a subtly irregular pattern.  Carpets that look attractively mottled are the best at hiding stains and the light damage of use over time. The irregular pattern will help other irregularities to blend in, so the carpet will look better after years of use.

Which Windows are The Right Fit For Your Rental

When you are choosing windows for your rentals, there are so many choices that it can seem overwhelming. Finding the windows that fit your needs can be challenging, and sometimes frustrating. The following are a list of things to consider when choosing the windows to use in your rentals:

PRICE POINT MATTERS:

The price point is key for many investors when they are upgrading windows in their rentals. The more expensive the windows, the more expensive it is to replace all the windows in a rental property. The higher the cost the investors have when maintaining the property, the higher the rent has to be for that unit in order for them to make a profit. Investors look to keep the costs low as possible, so choosing windows on a budget is key to keep costs in control. Most investors will go for a lower-to-mid priced option when selecting windows.

ENERGY EFFICIENCY:

Consider that some energy-efficient windows can help keep the cost of your renter's electric bill in check. Renters will appreciate the savings. The windows are also good to help the environment healthy. There are several companies that offer energy-efficient windows. It's up to the investor to determine if these windows are an investment that they wish to make in their rental properties.

CONSIDER THE WEATHER:

Consider the weather that you get in your area when installing the windows that you are installing in your rental property. If you experience sand, rain, wind, snow, etc. you will need different windows that are built to handle those elements of weather that you get in your geographic area. You will find that windows have different price points based on what kinds and types of weather they are meant to withstand

CONSIDER SPECIAL TYPES OF WINDOWS:

If you are looking for a "special type of window" for a rental property, you will likely end up paying more for those windows. Certain styles of windows like sliding windows, casement windows, fixed windows, picture windows, or bay windows. These windows all have different features and purposes that can raise the windows cost to purchase and install. 

TAKE STRUCTURES OF WINDOWS INTO ACCOUNT:

Certain windows that are structured to be double-glazed or double-paned are likely to be more expensive than the traditional builder-level windows. Consider the style and structures of the windows, you need and what price you are willing to pay for those windows. Other "extras" that can raise the price of you windows include windows made from fiberglass, aluminum, or vinyl as well as having a "sash" that can be moved and tilted in.

Finally, make sure that you get the proper e-coating for the windows that you have purchased. Windows that have e-coating outside protect against heat are e-coated on the outside and those that protect against the cold are e-coated inside.

CONCLUSIONS: 

There is a lot to consider when installing windows in your rental property. Considering the types of weather that you get in the area where your rental is located is a great first step to choosing the right windows for your rentals. Keeping the cost down while choosing the right types of windows for the climate in your area will help you get the best return on your investments when it comes to installing windows in your rentals.

4 Color Palettes for 2020 House Flips

Every year it seems like there are new color palettes and trends that break onto the scene. Color trends change along with people's tastes and the constant "modernizing" of the way we decorate our homes. When flipping homes, it's important to ensure that we are choosing colors that will appeal to the buyers or renters of the property. Choosing the right colors can help people see themselves living in a property (versus not living there), which makes the property more likely to be rented out or purchased.

For 2020, 4 of the latest color trends include the following:

Neutral Colors with Pops of Color:

Jewel-tones come back into style, again and again, making them a great bet when painting your flipped property. Many of these jewel-tones are marked by pops of color that draw the eye to a specific space and highlight the best features that space has to offer. The pop of color does a great job to bring some drama and flair to any space. Relying on pops of color can give almost any space the "oomph" it needs to be a lot more attractive and eye-catching.

Warm Cream Tones:

Warm cream tones are a color palette that never goes out of style.  These are your warm, creamy, earth-like tones that are expected to be popular throughout the remainder of 2020. Terra-cotta is another trend that is performing strongly throughout 2020. 

Navy Blue:

Navy blue is considered a "new neutral" color that will likely be popular throughout the rest of 2020. Pantone's color of the year for 2020 is a great example with Classic Blue holding the prestigious title. Another example is the Sherwin-Williams color of the year being Naval. Blue isn't thought to be losing popularity any time soon, making it a safe bet for painting your flipped properties.

Warm Pastels:

Warm pastel colors rarely lose popularity. Recently, the trends have shown that pastels with earthy undertones are becoming more popular among both renters and buyers alike. Mixing both spring and autumnal colors are becoming the most popular.

Conclusions:

These are 4 of the hottest trends in color palettes for the rest of 2020. When flipping your property, choosing the right color palette for your flip can help encourage renters to choose your property to rent. It can also encourage buyers to purchase a property that they can envision their family living in for years to come. 

Understanding Fair Housing Laws

A clear understanding of national fair housing laws is a must for anyone who manages their own rental properties. Landlords who fully self-manage their rental properties increase their chances of unintentionally running afoul of these laws. Here's what you need to know about renting and national fair housing laws.

Federal fair housing laws cover most rental properties, but certain types of property are exempt.  These laws prohibit landlords from discriminating against people based on:

• Race
• Familial Status
• Color
• Sex
• National Origin
• Religion
• Disability

When renting to individuals with a disability, the law requires landlords to make reasonable accommodations for such individuals to access the property. If requested, landlords must also allow the tenant to make reasonable disability-related modifications to his or her unit.   

What These Laws Forbid

It's illegal for landlords to engage in the following behaviors because someone is a member of one of those protected groups:

• Make their rental property unavailable
• Have a different process to qualify for a rental
• Charge a different amount for rent or other fees
• Deny access to amenities or services
• Publish or state anything that implies discrimination or preference in renting
• Only allow them to rent units in a certain section of the building or units in a particular building
• Remove a tenant or the tenant's guest

Compliance Is Challenging

Reports of blatant and obvious disregard for these regulations are uncommon. Frequently, accidental violations get landlords into trouble.  For example, if the size or location of a rental inspired a landlord to advertise it as "perfect for a retired couple", that's problematic. The argument could be the landlord is discriminating on the basis of familial status because the ad implies families with children aren't welcome. 

Practical concerns and good intentions can also result in accidental violations. A landlord may seek to prevent noise complaints by housing all families with children in the same part of the building. The law would also view that as discrimination due to familial status. 

Those are just a couple of examples. Unfortunately, there are many other ways a landlord could unintentionally fail to comply with national fair housing laws.