Signs, Signs, Signs

Your best marketing and advertisement tool (besides your property itself) is often your sign.  While I can certainly talk at length about all the reasons that you should maintain the look and feel of your property, I wanted to talk directly about the sign.  A famous real estate investor once said "You may work for a 8 to 10 hours per day, but your sign is working 24 hours per day."  Pay attention to the maintenance and placement of your sign.  Make sure you have a sign that tells tenants or buyers that you mean business.  If you don't display your sign year round make sure you are strategic about placing that sign in the yard a couple of months before your tenant's lease is up.  You select the time it goes in the ground, but be very disciplined about that date ahead of time.  Make sure your contact information is easy for people passing by to read and understand it.  Pay attention to your sign, it might be the cheapest marketing you will ever have. 

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Step Number 1 Manage Lease Risk

What do you need to know as a Landlord?  Seems like it should be an innate process right?  You buy a property, you find a tenant, and then you maintain that property.  Well, there are people that do it right and build tremendous wealth.  And then there are the ones that miss all of the important steps and end up buying properties at the wrong time, and forced to sell them at a horrible time.  Through a series of easy to follow steps I will be describing the process over a set of blog postings that will be sure to make you the best Landlord in your area.  Time to jump right in with Step Number 1.

Manage your Leasing risk not your Home Value risk!  What?  The home value should move in concert with the lease market.  I am here to tell you that this is not the truth.  The object of being a Landlord is to own, rent, and manage your property.  Selling it is a matter of preference, leasing it is a matter of survival.  Manage that lease risk!  Look to the important factors in your area.  Jobs and Job growth, schools and students, location to usable retail, and population studies.  Look for areas that should have sustained leasing, because you can weather a bad housing market with an area that has lots of leasing prospects. Posted by www.landlordstation.com