I’m Movin Out

So you have come to the end of your rental term and the day has arrived: Moving Day! The excitement of moving in to your new apartment must be paid for by the task of moving furniture, clothes, valuable items and tying up all other loose ends with your landlord, neighbors and service providers before you say goodbye. The best thing you can do for yourself above all others to prepare for moving day is to get organized well in advance.


Here are a few helpful tips you can use to prepare yourself:


Giving Landlord Notice

Most leases have an agreed upon advance notice term written in the lease, say 30 days notice depending on what you and your landlord agreed to. The landlord usually prefers a notice in writing stating the date of the move and an address to forward the deposit check, which is to be refunded to you if applicable. In the event that you have to move before your lease term is up, notify your landlord as soon as possible so that they can start looking for a new tenant right away and save you from paying for the duration of the term.


Make a “To Do” Checklist

Organize the tasks you set for yourself as well as those you can delegate to others, i.e. friends, family, movers. Start cleaning your apartment and prepare to return it in clean condition to the landlord well in advance so you do not get overwhelmed come moving day. Start collecting boxes and packing materials and pack those items you don’t expect to use before you move. If you will be using movers, be sure to price check several companies who are licensed, bonded and insured to be sure you are getting a good price quote for your move. Take pictures of all your furniture and valuable items in advance.  If you have decided to move on your own with the help of some great friends, be sure to price check a few truck rental companies before choosing one.


Prepare, prepare, prepare

- If you have a lot of “stuff” you don’t need to take with you look into organizing a garage sale, an auction on eBay or giving your items away to friends, family or a charity of your choice. The less you have to schlep the better.


- Start giving notice to all your current providers that you will be moving and no longer require their service, while also notifying the new providers that you will be using in your new home i.e. cable, Internet, security system, utilities companies. Be sure to have service shut off for the day after you move out of your old home, and have the new services turned on for the day before you move into your new home.


- Review your lease to make sure you know your responsibilities to the landlord upon moving out of the apartment so that you retain most if not all of your security deposit. Did you agree to re-paint, re-fill holes, re-plaster, clean, etc. before you move out? If so, you will want to cover all those bases in advance so that you are ready for moving day.


The Walkthrough

Now that everything is packed and you have done the deep clean of your apartment, you may want to take pictures to have a record of how you left the apartment in accordance with the terms of the lease. Then its to time to walk through the space with your landlord. Inspect everything and write down any problems the landlord points to. If the landlord is not satisfied with the condition, you will want to discuss what measures to take to solve the problem right away and determine how much deposit money you will ultimately receive. Put the resolution you both agree to in writing and have the landlord sign it. In general, if deposit money is due to a tenant it must be returned within 30 days of moving out.


Hopefully you had an amazing experience living in your rental unit. In that case, the big task of moving out can be turned into a fine denouement to some good memories. Just take a deep breath, get organized, look forward to a new beginning in your next destination and GOOD LUCK!


For more moving out tips, please email me at blogger@ezrarealty.com.


To find a fabulous high-rise rental in Las Vegas visit the only portal for high-rise rentals in Las Vegas at www.LasVegasHighRiseRentals.com!


Tips For Landlord Hopefuls

The critical factor to becoming a successful landlord is purchasing a profitable piece of real estate as a rental property. As real estate price corrections abound in Las Vegas and around the nation, investors are on a constant prowl for optimal rental properties. Here are the top 10 tips for landlords looking to hit it big in Las Vegas:


  1. Work With the Best Real Estate Expert – A great agent, broker or brokerage team can be a saving grace in saving a landlord time and money in the property search. Working with a real estate professional who has in depth knowledge of the area and neighborhood where you are looking to invest in rental properties as well as the inventory there is priceless.
  2. Budgetary Reality – Check your credit score and history to make sure you are moving forward with the best possible chances to obtain financing for your investment purchase. Be aware that banks have stricter requirements for investment purchase financing.  Get your finances in order and be realistic about your capability to purchase the property. Remember, you must still make the mortgage payments even if in the worst case scenario you do not find the renters to inhabit your property and pay you rent. You must plan for this possibility in advance.
  3. Monthly Allowance – The best possibility for an investment property is 100% occupancy and monthly rent money rolling in consistently. This means that your broker should negotiate the lowest and best possible purchase price for your property in order to achieve a healthy monthly profit margin. However, you must leave yourself some insulation in case there are vacancies and set a proper monthly budget.
  4. Know What You Are Purchasing – Inspect the property you are looking to purchase. What may initially seem like a great deal at a bargain price can turn into a fix up nightmare at a high cost to you. Work with an expert local real estate broker who knows the inventory well in the neighborhood of your interest.
  5. Inspections – If you cannot be sure that the property you are purchasing is up to code, properly wired, environmentally safe, and generally free of any major issues that may put a prospective tenant at risk and leave you liable, be sure to get the property inspected by a professional. The inspection make cost you, however the cost will be exceedingly less than the consequences of having to pay for emergency repairs down the road.
  6. Know The Neighborhood – Advise with a real estate professional who is in the know about the present and future of the neighborhood where you are purchasing the investment property. You should find out about any new construction coming up around your property that might obstruct views, possible security issues, as well as future improvements like a park or retail that you could inform prospective tenants of as an added benefit to renting your property.
  7. Know the Market – Knowledge is power. Your real estate broker can inform you of comparative market prices in the area of your preference so that you choose your property wisely. At the end of the day, knowing the inventory that is out there, the best location where to invest and the level of demand for rentals in a particular neighborhood will help put more money in your pocket.
  8.  Internet Networking – We live in the age of the World Wide Web. This means that you have all the information you need at your fingertips, as well as a great source where you can network and inquire about properties that are up for sale. Go surfing and find out what properties are out there. Read the local blogs and ask if anybody knows of properties on the market that are right for you. The best websites will have the greatest amount of content about the neighborhood of your choice as well as thorough listing information about availabilities. Remember, we have got you covered! Visit us at www.LasVegasHighRiseRentals.com.
  9. Keep Your Properties Close – Investment properties should garner the greatest amount of profit for the landlord. Sometimes it makes more sense to venture further away from your primary residence in order to meet your desired profit margin, i.e. out of state. However, the further away your rental property is located the more difficult it will be to manage it. The distance might require you to spend money on travel and property management and may not truly be worth it when you add up the cost. Focus on choosing a property that best meets your specifications as close to your primary residence as possible, thereby affording you an easier task of managing the property.


Looking to buy an investment rental property?

Visit us at: www.ezrarealty.com


Looking to rent out your rental property?

List it with us at www.LasVegasHighRiseRentals.com

Email us at blogger@ezrarealty.com for more information.

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