Tag: renter

Keep That Air Conditioner Healthy

Posted on | by Abigayle Abel

Whether you are an owner or a tenant, taking steps to help your Air Conditioner perform effectively and efficiently in the summer heat is always a good idea.

Start with these eight easy tips:

  1. Frequently Change the Filters
  2. Keep Rooms Closed When Possible
  3. Keep the Rooms Shady
  4. Use Ceiling Fans Along With the AC
  5. Keep Area Around the AC Unit Clear
  6. Keep Areas Around Intake Vents Clear
  7. Frequently Clean the Intake Vents

You can also greatly reduce the stress on your AC by using the “twenty degree rule.” While we might believe that cranking the thermostat on their air conditioner will result in cooler air blowing, there is a point at which pushing the unit further does not make the air cooler – it just uses more energy and costs more money. If it is 95 degrees outside and we set our thermostat to 70, we would be putting the AC system under considerable strain. Here is where the twenty degree rule comes into play!

The twenty degree rule states that you should always keep your AC unit at no more than 20 degrees lower than the outside temperature.

The logic has to do with how the AC unit functions. When the system starts cooling space, it removes the heat but also dehumidifies the air. When the system has to cool your home by over 20 degrees, its ability to do both remove the heat AND dehumidify the air diminishes. As a result, your AC system has to work harder and use more energy. This leads to faster wear and tear, can drastically reduce the lifespan of the unit, and can lead to more immediate problems like the unit “freezing” or completely going out. That risk is not good for anyone, especially here in the Texas heat. The twenty degree rule is an excellent way to help your AC unit run smoothly and at peak efficiency.

So let’s remember to keep the AC unit at no more than 20 degrees lower than the outside temperature.

Given the record highs we are experiencing here in North Texas, you may also consider these additional steps:

  • Setting the thermostat higher and letting the unit rest while you are away from the house will reduce strain on the AC unit.
  • Bathing and laundry can generate heat during the day. Complete these tasks during cooler times in the evening and morning.
  • Close doors to rooms you are not using. Also reduce the times outside doors are opened.
  • Keep windows covered.
  • Vacuum floor and wall registers. Get rid of dust buildup.
  • Make sure your ceiling fans are rotating counterclockwise. This pushes cool air down.
  • If you need to use an oven or stovetop, briefly use the oven hood to remove some of the heat.
  • Furniture should not block registers and vents.

Here at All County Metroplex Property Management, we are dedicated to helping owners efficiently manage investment and rental property. We are also dedicated to the comfort of our wonderful tenants.

If you have any investment or rental property needs, please don’t hesitate to call us at 469-405-7200.

We wish everyone a a safe and happy summer!

 

Investing in Real Estate to yield Long-Term Investment Turnaround

Posted on | by Abigayle Abel

Buy and Hold Real Estate: being a property owner on an investment property can produce income and long-term capital appreciation.

  • Buying property and holding on to it as a long-term investment can yield real life-changing money. Most other investments offer either a consistent return (i.e. annuities) or the potential for equity appreciation (i.e. stocks). Real estate offers both. Good buy and hold investments offer positive cash flow from rent(s) that not only offset expenses and debt, but also provide a monthly income.
  • An asset makes you money, and by renting your home you turn it into an asset. And if the investment property carries a mortgage, the cash flow allows an investor to pay back that mortgage without spending any of their own money. Instead, the tenant pays for it.
  • Rental property values (hopefully) will climb over time, and if the property rents for more than monthly expenses there will be additional monthly cash flow. That’s the goal!
  • Many real estate investors and owners start their path to financial growth renting out their homes as they upgrade to bigger or better houses. This may also help fund retirement – by acquiring multiple properties over time, the cash flow on the rentals could provide monthly rental income by the time retirement rolls around.
  • With Rental properties you can also borrow the bank’s or someone else’s money to increase the potential return. In other words, you don’t need to have 100 percent of a property’s purchase price on hand to be able to buy it. Rental properties also potentially allow owners and investors to buy properties for less cash than might be needed to purchase stocks or other investments.
  • The real estate market will go up and down, but the beauty of rental properties is that demand will never end. People always need a place to live.

Having a Property Management Company helps deal with various issues and helps alleviate owner stress and responsibility.

  • It is always good to have help in in case of unanticipated problems. Tenants don’t always pay rent on time, which can throw off your anticipated monthly cash flow.  They also sometimes don’t take good care of a property, which means an added cost of repairing the property as needed. However, no matter what issues an owner might face your property management company is there every step. Usually contracted on a monthly fee basis, your property manager will:
        • Work with you to make the property look its best for showing (including scheduling any repairs needed)
        • Schedule and be responsible for all showings
        • Advertise for, find, communicate with, and screen any potential tenants
        • Run all credit and background checks and review and process the applications
        • Finalize and sign the lease
        • Use a convenient online portal to collect monthly rent from your tenant(s)
        • Track all financials and ensure timely payments to owners
        • Respond to maintenance requests and schedule and follow through with all repairs
        • And also file evictions if needed

Getting Started

There are many ways to finance your new investment including

  • Borrowing against the equity in your home. These types of loans tend to carry low interest rates and reasonable fees.  (This also effectively makes you a cash buyer, which can make your offers more attractive to sellers.)
  • Owner financing is often a way to buy an investment property with little or no money down.

Let us here at All County Metroplex Property Management know if we can help you in any way managing your new investment!