This blog is going to cover some tips to make being a landlord a great experience. Owning rental properties means dealing with tenants. Many investors either don’t like or don’t want to deal with tenant and property issues, so they will hire a professional Property Management company. But if you decide to self-manage, here are some things you should understand.

First, remember asset protection. Title to your rental should be held in a well-designed, protective LLC. Not all LLCs are created the same! What you get online is not sufficient. It should be created by a competent asset protection attorney. This will protect you and your personal assets from tenant slip-and-fall lawsuits.

Second, have really good lease agreements. There are numerous free forms available. So I would recommend getting at least 3 or 4 options and read through them. See what clauses are in them and which are important to you. If you need to amend or revise one, you should work with an attorney to draft it as you may accidently do something that might hurt you.

Third, make sure you have the appropriate liability insurance. This is the one you get
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Do you love selling properties, but not the hassle of leasing and management?

When you partner with Rize Property Management by referring Property Management clients to them, they’ll send the love right back!

1. YOU RETAIN YOUR CLIENT RELATIONSHIP - They have a guaranteed non-compete agreement. If your client ever expresses interest in buying or selling any property, they send them right back to you.
2. THEY TAKE GREAT CARE OF YOUR CLIENTS - Old school Property Management of reacting to issues is out the window. They’re proactive and investor-focused to ensure the Property Management experience is smooth and profitable.
3. THEY PAY YOU FOR EVERY REFERRAL - When you send them a Property Management client who hires them, they pay you a $750!

To learn more, visit:  rizepropertymanagement.com/realtors

To contact Rize Property Management:  Call (801) 471-2473, e-mail info@rizepm.com, or visit rizepropertymanagement.com.

OK, this is our fourth blog on understanding rentals. If you haven’t, go back and read the previous three for a better understanding. We covered the possible local laws restricting short-term rentals, how they are taxed at the federal level, how to hold title and how to save money on the self-employment tax.

This article is going to discuss another surprise tax that many investors don’t understand: sales and lodging taxes. These are the taxes all hotels have to pay, and they are at the city, county and state levels.

Short-term rentals, like those offered on services such as Airbnb and VRBO, have always been required to collect and remit sales and lodging taxes. Historically, the large vacation rental websites viewed these occupancy taxes as the responsibility of the host or homeowner responsibility, not the platform.

The platform was positioned simply as an advertising website or marketplace, and transactions occurred directly between homeowner and traveler. These taxes, however, were often overlooked and not well understood by homeowners and hosts.

As the short-term rental industry has continued to grow, these lodging taxes are increasingly part of the industry narrative and becoming much better understood. Short-term rentals are now ubiquitous, which has sparked pushback in some communities, with a new and heightened focus
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There has been a big push for landlords to look into short-term rentals (think, Air BnB) as opposed to longer-term (monthly or yearly) typical rentals. The reason for the push is that renting a property nightly can bring in much more per month—even including vacancies. It has become almost an entirely new real estate investing technique.

While a great way to make additional rents, there are things that you should understand before jumping in with short-term rentals. The first is legality. All rental properties are regulated by the city in which they are located. You will also see county or state-wide regulations. But typically, state laws govern the relationship between landlords and tenants and other larger matters. In most jurisdictions, the specifics of what types of rental properties are allowed are done at the city level.

This city-sponsored legislation arises because cities are charged with protecting neighborhoods and the “look and feel” of their respective cities. And they have a lot of authority on rentals. Most cities require landlords to register ALL their rentals properties, pay a licensing fee and make determinations as to how many unrelated tenants can live in a give property. If you are a landlord, you should take a serious look into your city’s regulations!

But, short-term rentals are a new and different kind of renta
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The name of the game is to pivot, the vacation rental industry is not what it was 10 days ago. If you are not sure you want to work crazy hard, staying in this industry may not be for you. In the last 10 days I think we have worked harder as a company than ever before, and probably made far less proportionally as well. I’m not sure the accuracy of the stats but 80% of existing reservations were cancelled, with an estimated greater amount where the reservation was kept because a refund could not be awarded. Airbnb’s cancellation policy override has crushed many hosts, but we are seeing now more than ever there are NEEDS for flexible housing options.

I love what we do as a Property Management company, especially now that we have the opportunity to provide housing for those that desperately need it. Lives depend on medical workers and necessary staff in many industries, we can house those staff and others. If you want to stay in the industry the time is now to pivot or take a break. 

Here are entirely too many ideas to keep your units occupied, you choose which ones work for
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Residential Property Management is much different than it used to be.  It’s not simply about collecting rent and keeping tenants quiet.  21^st century Property Management is about performance and focus.  That’s where Rize comes in.  We focus in single and small multifamily Property Management and our job is to maximize net income while creating a passive investment so our clients can rest assured their asset is performing at the highest potential.  Our fee structure incentivizes us to do just that.  We don’t get paid unless you do.

In fact, our goal is to make our fee irrelevant.  Time after time clients who self-manage bring us their properties and even with our fee, they make more money without doing any of the work.  We understand that rental property is a small ball game and every bit counts towards the end goal.  Don’t let anyone tell that $10 per month doesn’t matter! 

Perhaps you are a new investor or you have been in the game, but either way, we are here to help.  We would be honored to sit down and discuss any challenges you have to overcome or goals to achieve.  Give us a call to learn more about how we can help make your buy and hold dreams come true.

Jon Neviaser
Rize Property Management
jon@rizepm.com 
(801) 210-7002
https://rizepropertymanagement.com/

Hello, I’m Cody Reeder with Reeder Asset Management. We are a full- service Property Management company, serving Cache Valley to Utah County. Today I would like to talk about the screening process. In particular the landlord screening component of the screening process.

A lot of times when I talk with owners, they will tell me that they do screening and that is great. But, as I dig a little deeper overwhelming the majority just do a credit check. Sometimes they may call to make sure that they do work in the place they claim to work.  As I talk with owners I realize they are missing a very important component, and that is the landlord referral.  Part of our screening is the credit check, we check the sex offender list, we do a criminal background check, employment verification, we do previous landlord, we are a part of rent bureau, it’s kind of how Property Management companies talk to each other.  As I said, each one warrants their own discussion. But today I want to dive into the previous landlord because it is so important. In my opinion, it’s the most important. For example, we’ve had just recently a prospectiv
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The Utah REIA is excited to announce Reeder Asset Management as this year's Diamond sponsor. In learning about the founder, Cody Reeder, and the services provided by Reeder Asset Management, we found their experience, management philosophy, and empowering nature to be exemplary.

Below are a few paragraphs to help you become familiar with Cody Reeder and Reeder Asset Management:

Investor
Cody Reeder, a native of Logan, UT is the owner of Reeder Asset Management. His career in the Real Estate industry was fueled by the downsizing of his former life in the print-media market in the late 90's, and a late-night infomercial, from a restless night of trying to figure out ‘now what?’.