Investment Property

Posted: 09/22/2008

Personal investments are made in many different ways from stocks, CDs and bonds to new businesses, land and other Dallas area real estate investments. The most typical of real estate investments is the purchase of ones personal home, however there are other forms of investing with real estate such as rental property.

The purchase of a home as a rental, as well as multi-unit apartment complexes and office buildings, brings responsibility and a fair amount of monetary remuneration if taken care of properly with tenants, management and upkeep of the property. In order to maintain a top grade Dallas property that will be popular as a rental, and to keep it desirable, the owner and/or property manager is wise to constantly work at keeping it clean and presentable.

One important and never overlooked item is carpeting. Since a person will either be living in or working in the rental, or both, cleanliness of carpeting is, throughout ownership and tenant possession, required for presentation of a respectable and professional environment. When making the purchase of a home, multi-unit or office building as an investment the new buyer will perform a property inspection that details everything from the foundation and roof, paint and pool, landscaping and wiring to the carpet and flooring. If any issues are present the property inspector will alert the buyer to them in a report which will then be addressed by the buyer's real estate agent to the seller's agent. In most cases the seller will either repair and/or clean any issues or offer financial compensation in the form of a credit or payment at the close of escrow for the purchaser to perform the work after the transaction is complete.

When a new tenant is moving in certain standards exist in a ready to be rented home, unit or office such as fresh paint, a cleaning of the entire home or office and carpet cleaning and sanitization. Most property management companies have relationships with various local Dallas carpet cleaning companies and can hire them to perform any needed work before a property becomes rent ready, and many of the carpet cleaning companies will work with the owner or management company on special pricing if multiple units require cleaning or to be the exclusive carpet cleaners for the property. Many Dallas carpet cleaning companies also work with flooring and tile and can be consulted with for any work that needs to be done in regards to that type of cleaning and care.

An investment is exactly what it is, a business venture that will make you, the investor money through proper and educated decisions. Always remember when making an investment with real estate in the form of rental property to think about your tenants and what can be done to make them happy and keep them in your property, as a happy tenant generally is a long term tenant and when they see an owner and management company who cares for a property it helps to make them think they care about them as the tenant, too.

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