Choosing A Home Management Software

Many landlords are terrified to even think about raising rents on their single-family home, apartment complex, retail center, and self-storage investments. In an economy like this, how can anyone even think about raising rents? Won't everyone just move out?

This myth has its roots with our early ancestors. We have a tendency to prefer avoiding losses over making gains. Psychologists call it Risk Aversion. Losing money is more painful than the joy of making it. In our primitive mind, they don't have equal value.

This made me think. What would be the characteristic that would be most important to measure the strength of a Regency Property Management company? Is it good employees, growing cash flow, long-term contracts in place, sound business procedures, or something else? They are all obviously very important. But what's the ultimate key to success?

Are you ready to pay the price for commercial real estate success? Just having goals and thinking about them is NOT ENOUGH. Its key, but not enough. You have to commit to working hard on your commercial real estate goals. The good news about hard work on your goals is that it creates momentum. Once momentum is created then you have mixed up your 'batter' of luck - now all you got to do is put it in the oven and watch it rise.

What is HOA? Be Careful of HOA: This stands for Home Owner Association. Often, condos look like a wonderful investment. HOA fees incorporate the costs of maintaining a property. If it has facilities such as a pool or gardens, this can be expensive and eats into the income you see at the end of the day from your investment. Many sharp sales people out there don't properly show HOA costs in yield calculations.

Use a written diary in addition to your computer based diary. Write things down each night for the next day. This simple process helps you with the right use of your time.

So, don't let frustration get in the way of your search for a great home at a great price. With less money and more "elbow grease," you can find the home you want.