Hector Lesende

Renting in the Miami real estate market can be an overwhelming and challenging experience. The best way to avoid bad paying tenants is by not renting to them in the first place. The landlord must avoid renting to tenants that have evictions, bad credit, no rental stability, no deposit, and must move in the same day.

Miami real estate rental market - 5 tenants to avoid renting to

1. Evicted - Avoid a tenant has been recently evicted or worse evicted more than once. The tenant is an expert in the eviction process. This lessee will stay in the property until the end. The Sheriff is the only way to get this tenant out of the property. Renting to a person that has just been evicted is a costly mistake.

2. Bad Credit - The renter with bad credit has nothing to lose. The credit is already ruined so this tenant will not be intimidated with collections and credit bureau actions. Always insist on running a credit check as part of the screening process. Things to look for are evictions and foreclosures. Do not worry about their credit score. Concentrate on the big picture.

3. No Rental Stability - Do not rent to a tenant that has no rental stability. This tenant will leave every year. The tenant does not stay in any property for a long time. The ideal Miami real estate tenant will stay in the property for at least five years and renews the lease each year with an automatic rent increase. Avoid a renter that moves many times in the same year. The tenant will do the same thing again and move out of your property in less than six months.

4. No Deposit - Do not allow the tenant to move in without a security deposit. This is a clear sign that the tenant will not be able to pay the rent on time in the Miami real estate rental market. The tenants will have problems paying the rent if they have not been able to save for a security deposit. If the renters have not saved any money for a security deposit, how can they save money to pay the rent? The renter will move out overnight without paying the rent for they have nothing to lose.

5. Move in Today - It is a red flag if the tenant has to move in immediately. This tenant is probably being evicted for non payment of rent or a Miami real estate foreclosure. Always give yourself time to screen the tenant. Do not let the tenant pressure you into moving the same day. Do not be afraid to ask questions. It is better to ask and verify everything in the beginning.

The best scenario is finding a tenant that will pay on time, take good care of the property and stay for many years. It is very costly to continually having to repair the property, advertise, and finally renting it only to see the tenant leave in a short period of time. The revolving door renters are not good business and must be avoided at all costs.

Screening the tenants and conducting basic checks are the keys to finding a good and more permanent renter. Do not rent to the first person that answers your ad in the Miami real estate market. Always insist on credit reports, employment verification, references, eviction and police reports. The tenant usually pays for the cost of verification.

Learn to screen, qualify, and identify problem tenants before it is too late. Explain all the rules of renting to the tenants so they are aware and avoid potential problems. Do not get desperate and allow yourself enough time to rent to the best tenant possible. Do not even think of renting your property to a tenant that has to move in right away, has been recently evicted, has no money for a deposit. By avoiding these renters your chances of finding a good paying tenant will increase dramatically in the Miami real estate market.

Call Hector Lesende at (305) 300-7788 or visit www.lesende.com

Hector Lesende is owner/licensed real estate broker in Miami real estate Serving Miami, Miami Lakes real estate, Coral Gables real estate, Hialeah Real Estate Miami-Dade and Broward counties. We offer a South Florida foreclosure list Property Search We are HUD homes registered brokers. We offer Miami South Florida Eviction Services.

Sellers must be able to attract and deal effectively with buyers in today's real estate market in order to sell their homes now. Dealing with buyer's agents is a very important step in getting the property sold. Consider the following tips when listing your home for sale. Listing the property in the MLS, pricing the property right, paying a competitive real estate commission, offering a bonus to the buyer's agent, making the property easy to show, not talking to buyers directly are the 6 tips to sell your home now.

1. Listing in the MLS - Listing the property in the Multiple Listing Service is essential in order to generate the most exposure to sell your home. Chances are the listing agent will not sell the house. The buyer's agents are the ones who will bring all potential buyers to see the property. Buyer's agents get the list of properties available for sale from the MLS. If you are not listed on the MLS you are missing out on the whole real estate market selling process.

2. Right Price - Pricing the property right is essential. If the sales price is too high the buyer's agent will not show your home. The seller and the listing agent set the price. Don't overprice the listing price and assume the buyer will make an offer for less. In most cases the property won't be shown at all if the price is too high.

3. Competitive Commission - Don't discount the commission offered to the buyer's agent. The buyer's agent won't even show your listing if you are paying a lot less than the standard commission. The seller will generate a lot of activity if the commission is higher than the standard commission. Sellers must pay a real estate commission that is competitive.

4. Bonus to Buyer's Agent - Offer a bonus to the buyer's agent. Your house will be shown first on the list if you offer a bonus to the agent who sells it. This bonus is in addition to the already establish sales commission in the MLS. The bonus is an incentive to Realtors to show and sell your house to their customers.

5. Easy to Show - The property must be easy to show at anytime. Sellers must be open and flexible with the showing times of their property. Don't require a 24 to 72 hours window for showing appointments. The average Realtor will make the appointment with only 2 or 3 hour notice. If the property is not easy to show the agent will skip it and show the next one. Consider placing a lockbox on the door so that the buyer's agent can show the house at anytime.

6. Don't talk to buyers - Sellers should not talk to the buyers directly. Also do not give buyers your business card or other contact information. If possible the seller should not be home at all when the property is being shown. The buyers will feel more comfortable and preview the property more at ease when the sellers are not there. The potential buyers won't feel like they are intruding and came at the wrong time if the seller is not home.

Selling your home in today's market is a continuing challenge. Don't try to do it yourself. Sellers must deal with buyer's agents in order to get their homes sold now. Do not underestimate the buyer agent's role in selling real estate. Buyer's agents play a crucial role in the real estate sales process.

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Hector Lesende is Owner/Licensed Real Estate Broker in Miami, Florida. Visit Miami Real Estate Search Miami Lakes Real Estate We will sell or rent your home fast. Visit http://www.lesende.com

Real estate investors face many new challenges in today's real estate market. The investor must be willing to rent the property since flipping is not currently an alternative. The investor must weight in 5 investing factors in order to succeed in real estate investing.

These are the 5 investing tips to consider when buying real estate.

1. Flipping - Flipping is not an option in today's real estate market. Don't think that the property will sell quickly and you will double in two months. You will have to rent the property for at least one year. The investor may also list the property for sale while is rented. Make sure there is a clause in the lease that allows you to show the property and that you can cancel the lease when the property is sold.

2. Repairing - The cost of repairing the house should be estimated and included in the price you are willing to pay for the house. Walk away from the property if the cost of repairing is staggering. Hire a professional inspector to insure that there are no repair surprises. Roof and plumbing repairs are always the most expensive. Don't assume you will get all the money back you spend on repairs when you sell the property.

3. Renting - Renting the property is realistic in this market. Make sure you rent the property for the maximum rent price possible. Be practical; don't set the rent amount so high that the property won't be rented for months. Hire a real estate professional to rent the house for you. Make sure a thorough background check, credit report check and eviction search are performed. Collect three months deposit up front in order to help you with repairs costs, eviction costs, plus other miscellaneous expenses.

4. Timing - You must make only cosmetic repairs to the property in order to turn around and rent it immediately. A vacant property which produces no rental income can be a costly mistake. The investor still has to pay mortgage payments, taxes, insurance plus other costs. Usually the buyer is not allowed to make any repairs to the property before the closing so you must wait to start repairing the house. Fixing the property fast and getting rented is essential in order to reduce costs. The timing of renting the property fast is very important.

5. Appreciation - The property will not appreciate in value as fast as in the boom years. It will take at least one year for real estate prices to stabilize. The profit should be made when buying not when selling. Make sure the rent will cover all expenses including mortgage payments, taxes, insurance, and maintenance fees. Don't buy the property is the projected rent will not cover the expenses and you have a negative cash flow.

Investors have an opportunity not seen in recent years to purchase heavily discounted properties. This opportunity may not last long and will not be seen again anytime soon. The foreclosure and bank reo home prices are low enough and rental prices continue to rise. This combination is very good news for real estate investors. Buying the property at an excellent price and renting fast while producing a positive cash flow is an investor's dream and a very feasible investing opportunity in the real estate market.

Hector Lesende is Owner/Licensed Real Estate Broker in Miami, Florida. Please visit Miami Real Estate. Search Miami Lakes Real Estate. We will sell or rent your home fast. Visit http://www.lesende.com

Staging a home is a crucial step in selling your house in today's Miami real estate market. The house must look inviting and appealing to a potential buyer. The buyers must visualize themselves living in the house and must feel welcome and at ease when viewing the property.

Miami real estate - These are the 5 staging tips for selling your home.

1. Landscaping - First thing you see is the landscaping. Some Miami real estate buyers won't even go inside the house if the grass is dead and the trees and bushes are overgrown and abandoned. Fresh flowers are always very popular. Mow your lawn at least twice a week for a crisp look. Make sure the grass is green and there are no dead spots. Pruning is also recommended so the garden looks fresh and lively. Consider colorful flowers like impatience or carnations. Add a small fountain to give it a classical look. Clear your garden of all leaves, trash and other eyesores. A well manicure and professional looking landscaping is essential in creating that first impression.

2. Painting - A freshly painted house is a good way to welcome a potential buyer. Choose light colors instead of overbearing colors that will scare the buyer away. Don't paint the house in shocking pink or red. The colors should be beige or peach. The colors should be eye pleasing to create a homey look. Do not paint each wall in a room a different color. Paint the whole room with the same color paint. There is no need to paint the outside of the house unless the paint is falling off.

3. Cleaning - The house must be clean and smell nice and fresh. There's nothing worse that a house that is cluttered with junk and dirty. Pick up dirty clothes and shoes. Vacuum the carpets and use some aroma. Clean the tiles and the bathroom, especially the toilet and the shower. The kitchen must be sparkling clean and all pots and pans should be put away. Pick up the bed and clear the night table. A clean house will invite buyers to return and stay.

4. Lighting - Turn on the lights so the house won't look dark and dreary. Open all drapes so the sunshine comes in. Arrange for home showing for daytime if possible. A dark house is very depressing and sends a wrong message to a potential Miami real estate buyer. The correct lighting will create a feeling of openness and added space.

5. Fixing - Hire a handyman to fix minor items around the house that won't make the house look like if it's falling apart. Fix a leaking sink that won't stop running and the water drip is obvious and annoying. Screw in all doors and closet handles so they will not come off when pulled and opened by a potential Miami real estate buyer. Adjust all cabinet doors so they close properly and don't appear broken. Try to do the work yourself first but if you don't know how or don't have the time you must hire a professional to do the work.

Creating the right ambience and inviting the buyers to come back and stay is a crucial step in order to sell your home in Miami real estate. You should consider hiring a home staging professional for more thorough and specific tips. Landscaping, painting with the right color, cleaning the house, proper lighting and sunshine, fixing and repairing the property are good ways to get the house ready for sale in the Miami real estate market.

Hector Lesende is Owner/Licensed Real Estate Broker in Miami, Florida. Please visit Miami Real Estate. Search Miami Lakes Real Estate. We will sell or rent your home fast. Visit http://www.lesende.com

Renting a property in the Miami real estate rental market is more difficult than ever before. The number of potential problem tenants is overwhelming. The landlord must be able to set the correct rental price, advertise and market the property aggressively, collect all deposits, conduct a thorough tenant screening, collect the rent, do evictions, fill out the residential lease and all other pertinent documentation and disclosures, avoid emergency tenants and don't try to do it yourself.

These are the 10 mistakes landlords make in the Miami real estate rental market.

1. Price - The landlord does not know how to obtain the right rental price. He/she will listen to a family member or friend who is not an expert and will offer the wrong amount. The landlord will lose hundreds of dollars a month if the house is rented for the wrong amount. The Miami real estate agent must obtain comparables of recent rentals in the area in order to determine the best rental price for the property. The comparable property must be similar to the subject property. The rental amount should not be negotiated.

2. Advertising - The landlord will try to save money and not advertise the rental property. This lack of exposure will hurt the landlord deeply. It is very important to advertise the property in all local newspapers, magazines, flyers, etc. The Miami real estate realtor should conduct at least one open house to get the proper property marketing. The property must be listed in the MLS to ensure maximum exposure.

3. Deposit - The desperate landlord will rent the property to the first person that walks in and will not collect any money in deposit. This is a recipe for disaster in the Miami real estate market. Never show that you must rent the property immediately. A three month deposit must be required up front. The third month deposit could be negotiated and paid in installments if needed.

4. Screening - Always obtain a thorough tenant screening investigation for potential tenants. Obtain a credit check, get a police report, call employers, check references, call prior landlords and ask if they would rent to the tenant again and did they pay the rent on time. Make sure the tenant has not been evicted before. Properly screening the tenant is an essential step in Miami real estate property management.

5. Evictions - Delaying or not evicting a tenant fast enough is a tremendously time consuming and costly mistake that will devastate the landlord. The landlord must be prepared to evict if after all the screening the tenant still won't pay the rent due to lost of job or other unforeseen problems. Evictions must be started immediately. The Miami real estate rental realtor should be familiar with non-paying tenant eviction proceedings.

6. Emergency - Avoid a tenant who must move in immediately. Do not allow the tenant to move in without a full screening and verification being completed. A tenant who must move in right away is usually being evicted or has some other hidden agenda. Check all prior landlord's references and run an eviction check and a credit check. Don't allow the tenant to rush you into making a decision.

7. Lease - Never rent month to month or worse never rent the property with no lease at all. Always insist the tenant sign a one year lease and collect at least one month deposit. In today's Miami real estate rental market a two month deposit plus the current month rent is the norm. All legal and biding documents should be in writing to avoid any misunderstandings. A lease is always required in court to provide repair, terms, and lease expiration and rent determination. All legal documents should be in writing.

8. Occupancy - Never give the tenant possession of the property without signing the lease or without a deposit. Do not give the tenant the keys to place some furniture or other small items inside the property. Tenants have been known to move in the premises before all terms and conditions have been established. Tenants will occupy the property and keys should be delivered only after all the paperwork is signed and all funds have been verified and deposited.

9. Repairs - Don't allow the tenants to make unnecessary repairs prior to renting the property. Painting and cleaning the property is normal should be done. New refrigerator, new kitchen cabinets, new air conditioner, complete remodeling is not normal and should not be tolerated. Do no rent to tenants that have a long list of things to be repaired. Never allow the tenant to dictate all the terms for repairing the property as a condition of renting.

10. Don't do it yourself - Always hire a Miami real estate professional do all the work for you. A landlord that tries to save money by doing it yourself will make a costly mistake. Usually the fee is only one month's rent. Collecting and Evictions services are not included and are charged separately. The money you save by doing it yourself in the beginning will cost you triple in the end.

Landlords must avoid amateur mistakes in Miami real estate property management. Certain rules must be followed in order to rent the property to a good paying tenant who will pay the rent on time and take good care of the property. Most landlords simply do not have the time or the knowledge to properly conduct all the necessary steps in order to ensure renting the property to the best candidate. The best way to prevent non-paying tenants and avoid tenant evictions is by not renting to bad tenants at all. Hiring a Miami real estate professional to rent the property for you is a must.

Hector Lesende is Owner/Licensed Real Estate Broker in Miami South Florida. Please visit http://www.lesende.com We will sell your home from only 1% commission. We provide a free Foreclosure and MLS list. Search http://www.lesende.com/miami-lakes-real-estate.php and http://www.lesende.com/coral-gables-real-estate.php We offer a South Florida Rental List updated daily.