Property Management Archives

Top 10 Fall Home Decor Hacks of 2021

by Monique Higginson | Oct 18, 2021 | Property Management, Real Estate Tips

It’s finally autumn, and with the changing of the seasons comes not only the warm delight of a pumpkin-spice latte but also a chance to try out some new seasonal home decor. If you’re looking to decorate your home on a budget, we have some excellent fall home decor hacks for you to try!

Make-Over Your Fireplace

Show your fireplace some love this season by sprucing up your mantel with fall foliage or some autumn-colored beads. You might also add some pumpkins in different shapes and sizes. Finally, don’t forget to add some firewood to your fireplace to give it a taste of the outdoors.

Chic Fall-Inspired Centerpieces For Your Dining Table

Love having flowers for your table? Try hollowing out a pumpkin and adding in a large tin can. You can use this as a vase for your flowers, making for a lovely fall centerpiece!

Find an old wooden box or crate and add some faux pumpkins and other sprigs of fall foliage and a few candles. It makes for a stylish and cozy fall centerpiece for your dining room table or even the coffee table in the living room when guests are over.

Dollar Store Foliage

Believe it or not, you can find some excellent fall decor materials at your local dollar store. You don’t have to go to a big craft store to find sprigs of fall leaves, berries, and floral picks. Instead, use them to make an autumn wreath for your door or to decorate the pumpkins on your doorstep.

Decorate Your Front Door

Your door is the first thing your guests will notice, so you want to make sure it’s decorated for the season. A fall wreath, some porch pumpkins, or some leaf garlands will help set the tone for your home when guests arrive.

Bring Out Your Copper Collection

Use copper pans and fall harvest vegetables for some stunning fall decoration ideas for your kitchen! Arrange them in the space above your cabinets for an easy fall transformation.

Preserve Your Pumkins

You can preserve your pumpkins in a bath of bleach and water. This will make them last longer since it inhibits bacterial growth so that you can display your real pumpkins for longer throughout the season.

Another hack for more miniature pumpkins is to preserve them in vaseline. Finally, avoid carving your pumpkins too early in the season, and opt for paint and glued decorations instead.

Create A Snack Bar Station

Speaking of your fireplace, it’s a great place to make s’mores! Set up a tray with marshmallows, mini wrapped chocolate bars, and graham crackers in mason jars with a few sets of sticks for a sweet snack station. No fireplace, no problem: you can make these on the stove, too.

Use Cozy Blankets in New Ways

We love using comfy blankets when the cool chill of fall rolls in, but did you know you can also use blankets for your decor? Adding them to your s’mores station or using them as a base for your pumpkin display adds a comforting layer to your decor.

Make Your Fall Home Decor Dreams Come True

We hope you’ve enjoyed these fall home decor hacks! Want some more tips on home decorations for fall? Contact us today, and we can help make your dream home a reality.

Old House Maintenance: The Complete Guide for Homeowners

by Monique Higginson | Oct 4, 2021 | Home Maintenance, Property Management

Homes are growing gray. The median age for an American home is 37 years. That means that roughly half of America’s homes were built before 1980.

The odds are that you will live in an old home. This means that you must learn about old home maintenance. It’s easier than you think.

What should you do regularly to maintain your home? What should be your primary focus to keep yourself comfortable? What are some threats to your property?

Answer these questions, and you can keep your home as young as possible for years to come. Here is your quick guide.

Draft a Seasonal Maintenance Schedule

It would help if you did different things to stay comfortable in each season. In the middle of each season, write a house maintenance checklist of what you need to do to prepare for the next season.

You should arrange for a tune-up on your cooling system in the middle of the spring. If you wait until June, you may struggle to find a timely appointment. It would help if you similarly asked for help for your windows in the middle of the fall so you can trap heat inside your house for the winter.

Do not forget your roof in your regular home maintenance. Home insurance organizations paid out $13 billion for water damage in 2017.

A primary reason for water damage is a leaking roof. First, check that all holes are filled in and add additional supports, so your roof doesn’t collapse.

Focus On Heating and Cooling

Many old homes struggle with keeping a comfortable temperature. This is often because the heating and cooling system is not working.

But there are many fixes you can make to help keep things comfortable. You should add weather stripping to your doors and windows. You should put insulation into your attic, where most heat escapes an old house.

Try to avoid stressing your HVAC unit too much. It can be hard to find a replacement, especially for an older house. If you need to warm yourself by a few degrees, put on an extra layer.

Watch Out for Pests

One of the main differences between old and new construction homes is building materials. Old homes contain a lot of wood, which can attract different pests. For example, termites like to eat wood, while beetles like to build nests inside of wood.

Pests require indoor and outdoor maintenance. First, inspect the soil against the foundation and walls of your house. If you notice tunnels, you may have problems burrowing into your home.

It would help if you looked through your basement for any signs of pests. For example, you may notice them moving on your floor or building a nest. You should then call an extermination company to remove them.

The Essentials of Old House Maintenance

Old house maintenance involves a few regular chores. You should adjust to the changing seasons and plan out steps in advance. But you must always protect your roof.

You can focus on your heating and cooling system. Try to take some small steps to preserve it, like wearing extra layers.

Be mindful of pests that feed on wood. They may burrow into your basement, so visit it with a good flashlight every once in a while.

Turn to someone who knows about old homes. Market Source Real Estate serves the Salt Lake City area. Contact us today.

How to Find the Right Tenant for Your Rental Property

by Monique Higginson | Sep 10, 2021 | Property Management, Real Estate Tips, Rental

Did you know, 16% of low-income tenants cannot pay the full amount of their rent every month? So how do you prevent problems such as this from happening? The key is to make sure you find the right tenant for a rental property.

Doing so takes careful planning and follow-through. Let’s take a look at what you need to do to make sure you find the perfect tenant for your properties.

Set Your Own Rental Criteria

Well-thought-out rental criteria are key to making sure your future tenants will be a good match. A common requirement is that the tenant has a gross income of at least three times the monthly rent. This ensures they have the income to pay the rent.

You should also make sure they have steady employment or a co-signer with steady and sufficient income to ensure that your tenant will continue to pay their rent. You may also want to consider a minimum credit score.

Setting lifestyle requirements for your rental properties is also a good idea, especially for your primary residence. For example, will you allow smoking and pets in the unit? Some landlords also find it helpful to have requirements based on possible criminal history.

Get To Know the Applicant at the Property Showing

Showing the property provides a great time for you to meet and get to know the applicant either in person or virtually. As a result, you can better understand who they are and how to work with them.

Try to pay attention to how they act. For instance, do they show up on time? Do they seem friendly and nice to work with? These types of characteristics can indicate that they may be a pleasant tenant.

Check the Tenant’s Rental History

A tenant’s rental history can indicate how they will be if they rent from you. You should reach out to their previous landlords to confirm that the tenant actually rented from them and paid the rent on time.

In addition, ask if they took good care of the property and left the unit clean and in good order when they moved out. You can also check if they were disruptive to any other neighbors.

Research the Tenant Credit Report and Run Background Check

A credit report can be a great tool to learn about the tenant’s payment and debt history. This can be an indicator if they will pay on time and be able to afford your rent.

You may choose to run a background check to see if the tenant has a criminal history. Just note that there are guidelines for using criminal background information if you are evaluating someone as a potential renter.

Use a Real Estate Agent

A real estate agent can make the process easier. Instead of going through each of these steps, an agent could take the lead on it. In addition, having a property manager or real estate agent can allow you to have a more hands-off approach to renting.

In addition, they can make it easier to ensure that you follow landlord-tenant law and don’t risk legal trouble by infringing on tenants’ rights.

Find the Perfect Tenant for Rental Properties

Finding the right tenant for rental properties can be an overwhelming process. First, you need to make sure you identify useful rental criteria and that your potential tenant meets them. However, a real estate agent can make finding a tenant and property management much easier.

Contact Market Source Real Estate to get started with your rental property today.

Best Places to Buy Vacation Property in Utah

by Monique Higginson | Sep 2, 2021 | Property Management, Real Estate Tips, Relocating to Salt Lake City

Whether you’re looking for a second home where you can spend family vacations or you want to expand your property portfolio, Utah is an excellent choice. With large cities, quaint towns, and breathtaking natural landscapes, Utah has it all.

So if you’re looking for vacation properties in Utah, what are the areas you should be browsing?

Keep reading as we review the top towns and cities in Utah that make great locations for buying vacation homes.

Logan

When discussing vacation properties in Utah, we couldn’t neglect Logan. The population of Logan is booming, making it an ideal time to invest in property there.

One of the biggest attractions is Utah State University. If you’re looking to rent out your vacation property, Logan is one of the most lucrative options on our list, as rental prices are particularly high.

Salt Lake City

Boasting the largest population in Utah, Salt Lake City makes a fantastic choice for your vacation property for many reasons. In addition to the great nightlife and restaurant scene, there’s also a wide variety of neighborhoods.

Some of our favorite areas of the city are the historic neighborhoods such as The Avenues and Capitol Hill. As you can imagine, the backdrop of the Oquirrh Mountains never gets old.

Park City

Next up on our list of great places in Utah is Park City. Situated about 30 miles east of Salt Lake City, Park City is home to some of the best skiing resorts in the country.

If you’re an avid skier and you find a beautiful vacation property for sale in Park City, this is surely too good of an opportunity to miss.

St. George

Another hotspot for vacation rental properties in Utah is St. George. Located in the southwest tip of the state, St. George is an exceptional choice for those who love the outdoors.

Near both state and national parks, not to mention the Grand Canyon, St. George makes perfect sense for those who love to hike and explore while on vacation.

Southern Utah

Last but not least, there are many great locations for buying rental properties in Southern Utah. With options such as Cedar City, Bluff, and Hurricane, this is where to go if you want to be near the jaw-dropping sandstone panoramas.

If you’re looking to rent out your second home, there are plenty of companies offering vacation property management services here.

Those Are Your Best Options for Vacation Properties in Utah

Having explored the top locations when looking for vacation properties in Utah, it’s time to take the next step. Consider which of these places speak to you and what you’re looking for from a vacation home, whether that’s the thriving scene of Salt Lake City or the stunning backdrop of St George.

If you’re looking to buy or sell a property in Utah, Market Source Real Estate has your back. Click here to contact us, and our expert realtor team will be honored to get to know you and your specific needs.

Differences Between Old and New Construction Homes

by Monique Higginson | Jul 8, 2021 | Property Management, Real Estate Tips

The average potential buyer spends 10 weeks finding their home! Put yourself ahead of the competition by going into your house hunting journey by having a good idea of what you’re looking for before you get started.

One of the most important aspects of real estate is to familiarize yourself with the features of old vs. new homes. Read on to learn about the major differences.

Materials

Whoever said the phrase “they don’t make it like they used to” was probably talking about real estate.

Older homes are typically built with wood, while newer homes are usually made of concrete, depending on where you live. Even newer homes are built out of wood using a different wood quality than they did decades or even centuries ago.

It’s not just the base of the house that is built differently. Think plaster vs. drywall; old homes used plaster, a thick and almost concrete mixture when dried, while new homes have drywall, which is essentially a thick cardboard wall. While drywall does have its benefits, it’s less durable.

Natural Light

This may not be something that a potential buyer would think of when buying a house, but it’s an aspect of the home design that can greatly impact the place’s vibe.

Older homes have more windows and let more light filter into the house. Newer models have energy-efficient, weather and light-blocking windows that help save money but let less sunlight in.

Energy

New homes are built with saving energy in mind, and the builders often tailor them to withstand the local weather.

Older homes may not be as energy-efficient because they were built before insulation became popular. In addition, houses built before 1965 have different electrical wiring systems that are much less effective and costly (fire hazard). However, if you fall in love with an old home but worry about the use and cost of energy, there is an option to rewire the house and take other measures to improve efficiency.

Design

Old construction homes tend to be smaller than new builds. For example, in 1960, the average square space of a new home was 1,289 square feet. In the 21st century, new constructions averaged around 2,500 square feet.

Old homes may have less surface area, but the design of old homes is conducive to feeling like there is more space. For example, older homes have narrower hallways that lead to large rooms with high ceilings. And there is certainly one thing for sure, old houses have more character than their new counterparts. Modern homes tend to have the same general open floor plan and are often described as cookie-cutter. However, old homes tend to have more personality.

Location

Older homes tend to be closer to the city or town centers, while new construction is often pushed to the outskirts of town where there is space. Being secluded is a huge plus for some people, while others want to be right in the hustle and bustle.

Pricing

When you’re patrolling the market for a house, you’ll notice that older homes are usually less money per square foot than new builds. This is due to the rising cost of labor, land, and materials.

Teaming up with a real estate agent will give you the best opportunity to get a good deal.

You Decide: Old vs. New Homes

You’ve made your pros and cons list. You’ve considered all of the benefits of purchasing old vs. new homes. So now, how do you get your hands on a home to call your own?

Whether you fancy older construction homes or modern builds, Market Source Real Estate can get the home buying process started for you today. Contact one of our agents or browse our houses for sale in the Salt Lake City area.

7 Things to Know About Homeowners Associations

by Monique Higginson | Jun 4, 2021 | Property Management, Real Estate Tips

Did you know that around 80% of newly built homes belong to a homeowners association (HOA)? Planned communities are on the rise, but what does it mean to live within one of these neighborhoods?

What is an HOA, and what does an HOA do? Keep reading to learn all about homeowners associations here.

What is a Homeowners Association (HOA)?

A homeowners association (HOA) is an organization within planned communities or townhouse and condominium developments. HOAs oversee the properties in their jurisdiction and create and enforce communal areas and member’s properties. In this way, your investment is protected and even causes an increase in home value.

Fees Range Widely

When joining an HOA, you have to pay a particular set of fees. HOA fees are paid monthly to support community maintenance, civic amenities (sanitation, recycling, and some utilities), access to facilities (residential pool, gym, clubhouses, rec center, etc.,) and other expenses.

Some communities also cover lawn care, snow removal, and pest control for tenants with HOA fees.

These fees can range widely depending on what the HOA offers, type of home, location, and size of the community. On average, payments range from $200-$300 for single homes.

Additional Fees May Apply

Standard HOA fees included in your contract do not tend to change. However, you may be subject to pay additional fees. HOAs may charge for special assessments to pay for renovations in the neighborhood; some renovations (and charges) are unexpected, so it is best to add this to your budget.

Other fees you may face are fines. When you sign the contract, you agree to comply with those rules. If you violate an enforced regulation, like excessive noise or unapproved design changes, you could receive a warning or fine.

Insurance

HOAs provide insurance coverage and liability protections for communal properties in their jurisdiction.

Regardless of whether you make use of amenities like a fitness center or parking garage, you are still responsible for paying the HOA “master policy.” Master policies may protect aspects of your home but still need a personal plan for your condo or home.

Fees And Your Mortgage Approval

The fees you pay to an HOA may impact your mortgage qualification abilities. Lenders consider these fees when determining whether you will be able to pay back your loan.

Your DTI (debt to income) ratio may lower your offers or approval odds.

The HOA’s Reputation

Is an HOA bad? Is an HOA good?

HOAs tend to get a bad rep due to poorly managed organizations, overly strict guidelines, or lack of communication. There are plenty of positive aspects of belonging to an HOA; however, you should always read any paperwork in detail and consider whether you can afford the dues and additional fees before joining a community headed by one.

Compliance With The HOA

Rules and regulations are outlined in a Declaration of Covenants, Conditions, and Restrictions (CC&R).

CC&Rs let tenants (or prospective buyers) know about membership dues when payments are made, your rights as members, and the limitations. As HOA, you have to comply with restrictions on paint colors, the state of your yard, and so on.

What Are The Amenities, Parking, and Pet Restrictions?

HOA amenities are often limited to members who pay for those services (with HOA fees). Parking is commonly restricted to certain vehicles, where to park, or how many cars per single home.

Lastly, pets may be restricted to one or two per household, specific breeds, weights/sizes, and enforce leash and collar rules.

Consider These 7 Things Before Making Your Decision About Homeowners Associations

The benefits of joining a homeowners association are plentiful. Consider the fees, insurance, regulations, and restrictions when making your decision whether or not to join a neighborhood with an HOA. Want to know more about your home buying options in Salt Lake City?

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