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EMPLOYEE IN
THE SPOTLIGHT |  |
Our Employee In The Spotlight this month is
Toni Maynard. Toni is a member of the Billing Department and is in charge of Accounts Payable. Click here to see more about Toni and the rest of the GPM Team |
| ELECTRONIC PAYMENTS AVAILABLE! |  |
Who has time to wait for the Letter Carrier or to stand in line at the bank? Have your payments deposited directly into your bank account. Contact us for directions on how to get started today! |
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Greetings!
It took a while, but it appears that Spring has decided to join us this year. We would like to take this opportunity to thank you for your continued business and trust in us with your investments. Referrals are the highest compliment, and we thank you for referring your friends, family and colleagues to us for management of their investments.
In this issue, we are announcing our lawn maintenance schedule for vacant properties, we have important and informative information about land contracts, and we have tips for maximizing the income from your investment properties. |
 | Lawn Maintenance for Vacant Properties | |
Seasonal lawn maintenance on vacant properties will begin during the first week of May, 2013 with a 7 to 10 day rotation, and then every 2 weeks beginning in July.
If your property is vacant now, or becomes vacant during the months of May through September, you will want to read on.
- If Garner Properties & Management handles the maintenance of your property, we will automatically maintain the lawn.
- If you prefer to maintain the lawn yourself, please notify us.
- If you handle the maintenance of your property and would like Garner Proeprties & Management to maintain the lawn, please notify us.
- If your property is a condo or apartment and the lawn is maintained by an association or there is no lawn, we will not maintain the lawn.
Our fee for lawn maintenance is $26 per cut, and includes basic service - mow & blow. Additional charges may apply for yard clean-up.
We are pleased to be able to extend 2012 prices for lawn maintenance in 2013.
Please contact Client Services. |
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We all know that homes can be bought or sold for cash or with a mortgage, but what can be done if the buyer does not have cash, or can't secure a mortgage? A Land Contract (aka Seller Financing) may be the answer you are looking for.
What is a land contract?
A land contract is a contractual agreement between a buyer and a seller of real estate in the form of an installment sale. The contract spells out the price and other terms of the agreement, such as how taxes, insurance, utilities, and non-payment will be handled. The seller agrees to provide a deed to the buyer after all of the terms of the contract have been met.
Why would an investor utilize a land contract?
* A land contract may make the property easier to sell. The seller controls many aspects of the transaction.
* There are tax advantages such as you can avoid paying all the capital gains tax at once.
* The seller on a land contract can enjoy a regular cash flow without the managing rental property.
* The seller may be able to realize a greater overall profit from the sale by earning interest.
* As a buyer real estate investor, you may get control of a property with very little or no cash and then sell the property for a higher price or utilize it as a rental property.
* Land contracts can be used as part of a transaction to provide the balancing security in the sale or exchange of property.
* In case of non-payment on the contract, the forfeiture period is only 90 days from the date of filing.
We found an article that describes Land Contracts in Michigan, but for more details, please contact Teressa Harbin, Director of Marketing and Real Estate Sales. |
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Maximizing Your Investment Property | |
The rental market is very competitive right now. Our job is to bring you the highest dollars in terms of rent, but sometimes we need your help.
Kitchens and bathrooms are the rooms that sell and lease homes. buyers and tenants are looking for clean, gleaming, and updated. If a fully updated kitchen or bath is not in the budget, consider lower cost improvements, such as new plumbing fixtures, light fixtures, window treatments, bathtub glaze, flooring. We found some helpful hints in this article.
Your new tenant will want to feel as though they are moving into a new home. Consider updating carpet that is worn, torn, or dirty beyond repair. Also consider a fresh coat of paint. Here's another article with great suggestions. |
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As always, we appreaciate your partnership. Sincerely,
Chris Garner
Garner Properties & Management
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