Jacob Maslow, Author at

How You Can Get More Bang for Your Buck Out of Your Investment Properties

Jacob Maslow on May 18, 2020

Entrepreneurs that have delved into a variety of industries always seem to try their luck with investment properties. Building up a portfolio of investment properties can allow you to retire years in advance as you can rely on the consistent monthly income. Maximizing income from each property should be priority as renters are willing to pay for a quality apartment that comes with perks. Property management companies allow for people to make truly passive income as you will not have to deal with collecting rent or finding renters. Below are a few tips to help maximize your income from your rental properties.

List the Property on a Variety of Platforms

Entrepreneurs that have delved into a variety of industries always seem to try their luck with investment properties. Building up a portfolio of investment properties can allow you to retire years in advance as you can rely on the consistent monthly income. Maximizing income from each property should be a priority as renters are willing to pay for a quality apartment that comes with perks. Property management companies allow people to make passive income as you will not have to deal with collecting rent or finding renters. Below are a few tips to help maximize your income from your rental properties.

List the Property on a Variety of Platforms

Airbnb is an extremely popular platform to list your income properties on. You can even set up a cleaning service to deal with the property after it has been rented. Damages can be incurred by certain renters on this platform though so keep this in mind. Renting out properties for the extended future is going to maximize overall income. Offering extended leases that could be multiple years in duration that include a discount can be just enough to convince a renter to sign a longer lease.

Refinishing Can Give a Rental a Newer Look

Something as simple as bathtub or sink refinishing can give a bathroom entirely different energy. The last thing that you want to do is have to revamp a property year after year. Refinishing counters or sinks can allow for a newly renovated feel of the property. Take the time to see what refinishing companies in your area can handle the project for your investment property. You will find it is far more affordable than taking on the headache that is associated with large home improvement projects.

Amenities Can Drive Up Rental Costs

Picking a property in the right condo or townhome community can come with a number of perks. A vacation rental is going to be far more likely to be rented if there is a pool or even gym access. The best thing that can happen is to have seasonal renters that come back year after year. Being able to rely on rental income every year due to those from colder climates moving to warmer places is a godsend. Parking can be a huge perk in certain cities where a renter would have to pay a large amount monthly to park their car on their own.

Partner with a College in the Area

The ability to rely on a college in your local area to produce exchange students that need housing can be immensely profitable. You will be receiving rent from the college and exchange students oftentimes will take care of the property far better than an average college student. Being able to house graduate students is an even better deal so reach out to university officials to see if an arrangement can be established. A student is not going to risk their time in the US by damaging the apartment or condo they are renting.

Investing in the right property can generate income for years to come while the property itself appreciates in value. Maximizing the income made off of the properties can be used to put back into the property or can be saved to invest in another property.

4 Ways To Control Your Vehicle On Icy Roads

Jacob Maslow on September 28, 2018

Driving in the winter can be scary, especially when conditions call for icy roads and patches of black ice. To make sure you stay safe on the road, we’ve put together a list of defensive driving techniques that you should put to use in the event of icy winter road conditions. Reacting quickly in the event of an accident is the key to avoiding severe collisions, so be prepared before you hit the road.

Don’t Stomp On The Brakes

When you hit a patch of ice, your first instinct may be to hit the brakes hard and hope that your car stops. This will slow down your vehicle, but it’s actually more effective if you practice threshold braking in order to get the vehicle to come to a complete stop. However, you do not necessarily have to do this if your vehicle has anti-lock brakes, so check your manual to double check what you should do if your car skids on ice.

Do Not Swerve On Main Streets

If you go over a patch of black ice and are heading towards another vehicle, swerving out of the way may cause you an even more severe accident. If you do go over black ice and find yourself heading for another vehicle, try your best to stop the car before it hits another driver, but don’t do it at the expense of other vehicles on the road.

Drive Slowly

It goes without saying, but when conditions are icy you need to drive slowly, especially on the highway. Most of the time, other drivers will also be driving slowly, so you may not have to think about your speed. But, if you’re driving on roads that are empty, don’t be tempted to speed up just because you can. Other vehicles aren’t the only things that could cause a collision. You could see an animal on the road and not be able to stop, or lose control of your vehicle and crash into a tree. Pay close attention to weather conditions, and leave earlier if you’re stressed about timing.

Keep A Large Distance Between You and Other Vehicles

Double or triple the distance that you maintain between you vehicle and other vehicles on the road. In the event of a patch of ice, you’ll need quite a bit of room in order to slow down enough to ensure you don’t hit another vehicle on the road. This is especially important during high traffic hours, when hitting one car could result in that car hitting the vehicle in front of them and so on.

Driving during the winter is dangerous, so make sure that you’re adequately covered by your insurance provider in case of a collision. If you feel like your policy isn’t covering your effectively, compare your car insurance to with other leading providers on the market to ensure you’re getting the best price possible for your automobile insurance.

5 Ways To Avoid Distracted Driving

Jacob Maslow on August 30, 2018

Distracted driving has become a huge problem, endangering drivers all over Canada. With all of the technology we have at our fingertips, it can be very difficult to remain focused on the road. Travelling for extended periods of time can make the temptation even worse, and you could end up with a ticket, or in a collision. Here are some ideas for ensuring that you remain safe on the road.

Put your cell phone on silent while driving

Lots of cell phones have driving modes that silence notifications while you’re behind the wheel. It may seem arbitrary, but the sound from a text message or phone call could distract your focus for long enough to put you in danger. Plus, having your phone on silent eliminates the temptation to text and drive.

Don’t wholly rely on your navigation system

Navigation systems don’t work 100% of the time, so look at the directions to your destination before you hit the road. Recalculating GPS systems, or having to adjust your navigation system while driving, is a recipe for distracted driving. If you’re driving with passengers, entrust one of them with navigating to your destination so you don’t have to be on your phone.

Keep music and movies at a reasonable volume

Loud music or movies can make it difficult to pay attention to cars surrounding you. Keep music low enough so that you can hear conversations between you and your passengers. If you’re driving with kids, and they are watching movies in the car, pull over to change discs, or have one of your passengers be in charge of the entertainment.

Make sure kids or pets are positioned securely

Making sure that your kids or pets are secured in your vehicle is especially important during long drives, where sitting for long periods can be challenging for young kids. Driving with kids may necessitate more frequent breaks because their patience may run thin. If one of your kids wriggles out of their seat, pull over and make sure they are secured, do not try to adjust them while driving your vehicle.

Don’t impede traffic by looking at collisions on highways

Have you ever hit slow traffic because of a collision? It may be because lanes are blocked, but often it’s because other vehicles are slowing down to see what happened. Keep your eyes focused on the road to avoid rear ending another vehicle.

Keeping yourself focused while driving is crucial to keeping you and your family safe on the road. Keep your hands off your tech, especially if you’re driving with young drivers who will take their cues from you. Avoid texting at all times, and make sure that on long drives you prepare your entertainment. Keeping yourself focused on the road will lower your risk of a collision, which means your premiums stay low. If your current provider isn’t rewarding your safe driving, compare your policy to other insurance providers. You may find that you could save money by switching.