You're away from your rental for the weekend and get a call from your downstairs neighbor, "there is water coming from our ceiling and dripping into our living room. I think we can hear water running in your apartment."
Life happens - it's that simple. As a renter, what are you responsible for? What is your owner responsible for? What would renters insurance cover if you were found to be the reason for damage to another renter's space? What would be excluded? Renters need to be savvy in today's market. This article describes all you need to know (and what you're too embarrassed to ask) about renters insurance.
More questions? Give us a call. We help renters navigate all sorts of renter challenges and let you know where you may be exposed to risk you aren't aware of.
I have been told that online content should have water marked photos and I understood why this week. One of my listings was digitally stolen and offered back via scam at a lower 'too good to be true" price. When the false ad was clicked on, it was almost laughably a scam. However, for some shoppers or a better scammer, these things may be harder to spot. Always deal locally with a real person (preferably on the phone and not texts or e-mails) when shopping for anything online that involves private parties. Know the warning signs. Learn more tips to avoid scams by taking a look at this article.
If you are of a younger generation or an older generation that observes younger people in the business world today, you are beginning to see the powerful impact of video. Video is becoming nearly all that matters in the digital marketing world. In fact, marketers who use video grow revenue 49% faster than non-video users. Take a look at this article that highlights the effects of video marketing and its staggering success statistics.
Check out a recent promotional video we shot via drone to highlight a Frontier West Vacation Rental. In today's day and age, there are fewer methods more effective than video to showcase the pristine beauty of the Flathead Valley, draw in excited vacationers, and boost returns.
We all want the nicest looking rentals that we can provide. However, not all money spent on renovation yields higher rents. As we face Flathead Valley's construction boom, you can estimate your total cost for renovations if you carefully think through the appeal of new features, estimate the cost, and then add another 25%!
As a property management company, Frontier West can help you identify what renovations or upgrades make the most financial sense and will give you the best return. Click here to learn how to avoid renovation mistakes on your rental properties.
"Apartments, compared with other asset property types, have a strong performance history and will likely continue to outperform in the foreseeable future."
- Elizabeth Miller, Appfolio
We have all had a front row seat to the construction craze this season. The Flathead Valley's construction statistics are second only to Bozeman with regard to growth in the state of Montana. However, this frenzy has created some pretty high construction costs. Developers have had some issues keeping project budgets within the acceptable limits once the General Contractors have turned in their bids, but the projects continue to get off of the ground. With general housing inventory down from prior years and a rapidly growing communities in places like Kalispell, Bigfork, Whitefish, and Columbia Falls, we have seen an explosion in multi-family construction.
In addition to meeting a community demand, new research shows apartments are proving to be a real estate investment that outperforming other property types. Take a look at this article from AppFolio's Blog explaining the fuel behind the multi-family boom.
Ryan Pokorny, Owner/Manager
I have owned Flathead Valley rental properties for years. I'll be the first to admit that never thought a property manager was totally necessary. And then I attended a week-long property management training and certification course and studied the Residential Landlord Tenant Act . It became very clear that there are multiple benefits to hiring a property manager - risk reduction is one of the most important. It's no shock that owning an investment property can be a sound financial move. Smart investors know that hiring a property manager is the next step toward protecting their asset. Forbes Real Estate Council shares 8 reasons why you shouldn't manage your own investment properties.
If you own a commercial or residential rental property in the Flathead Valley, consider property management. To learn more about the Residential Landlord and Tenant Act, click here.
Ryan Pokorny, Owner/Manager