Having an additional stream of income is a wise choice nowadays. After all, the cost of living will just continue to rise.

Thus, if you have an unoccupied space, condo, apartment, or house, you can rent it out to other people to supplement your current income. Not only can it be a solid and continuous source of income, but it also helps you earn extra without the need to get involved that much.

With more and more people preferring to rent a property than own one, all you need is to keep up with the maintenance. However, if you want to make money, then you have to target a specific group of people. A great demographic to target are millennials.

Good thing there are plenty of ways you can make your rental property much more attractive to the generation. Check out these tips listed down below.

Put some effort in your online listing

Millennials are subject to a lot of online listings when they鈥檙e shopping online for clothes, when they鈥檙e looking at posts upon posts, funny cat pictures or cat videos, and so on.

Therefore, they know a poor online listing when they see one. Luckily, there are plenty of ways you can improve your online listing.

What Millennial Renters Want

1. Upload High-Quality Images

If you put in shaky photos of your property, then you鈥檙e definitely not making yourself look good to anyone. Aside from that, you should make sure that the property is in great lighting to make it look more welcoming.

2. Name Your Listing Right

Having an accurate listing that is also attractive is a great way of getting people to take notice of your rental. Of course, you shouldn鈥檛 just ram every single keyword in existence on it. Be particular but be interesting too.

3. Have a Great Property Description

Having a great property description means that you should ensure that every single relevant details about your property is included in it. Put yourself in the shoes of the ones who want to rent your property and figure out what you would want to know about a property and list it there.

Make Your Property Eco-friendly

Nowadays, a lot of millennials have beliefs that they want to be reflected in different aspects of their life. Be it the things they buy, the clothes they wear, or the food that they eat, millennials are a lot more conscious of current events.

This also explains why is on the rise. Therefore, if you want to attract the renting generation to lease your property, then you need to learn eco-friendly and sustainable practices when it comes to managing a property. Afterwards, you can use this to your advantage and market your place as such.

Do remember, though, that it鈥檚 not enough that you market your property as eco-friendly; you have to push through with your promise. A lot of millennials are a lot more discerning so they won鈥檛 take kindly to false advertising.

Use high-tech features

When renting to millennials, it would be a good idea that your apartment has some .

These features don鈥檛 have to mean that you put any and every available smart home feature that you want. Otherwise, you might end up having a home to rent out that not a lot of millennials are able to afford.

You don鈥檛 even need high-tech features on the home itself. Just your services and information about your property is arranged in a convenient manner on your website is good enough to impress.

As mentioned before, they prefer to be more sustainable. So if you can make the transaction as paperless as possible, they will appreciate it.

Make it Pet Friendly

A lot of people are fond of having pets. For a lot of them who are born in the Internet age, you would know just how much content about pets there is online.

With that said, you can increase the number of potential tenants on your property by .

It鈥檚 understandable that you may have trepidation about making your home pet-friendly since pets can damage furniture and fixtures in a house. However, the love of pets that millennials have may mean that they鈥檙e willing to pay a little extra just to have their furry family members with them.

Add Modern Touches

Adding a few modern touches to your rental property will attract a younger audience.

Although it鈥檚 ideal that you keep your house up-to-date in style, it doesn鈥檛 mean that you have to be in complete control over the look. As long as it looks presentable, clean and customizable, then millennials will like your home.

You can receive help of providers to ensure that your tenants and guests will walk in an organized and immaculate home.

Another thing you can do is that you can allow your potential tenants to paint the house themselves if you want to bank on the uniqueness of your rental property. If that concerns you, then you can always limit the areas of the home that they can customize.

Make Sure it鈥檚 Easy to Maintain

Lawn maintenance is not something that a lot of homeowners are into. In fact, they want every space in the house to be used for something instead of just having patches of land that they have to maintain.Thus, it will do you good to make sure that your home is easy to maintain.

Offer Great Service

As a landlord, you should make sure that you offer great service to your tenants. Oftentimes, a lot of people end up not liking the people they鈥檙e renting out their place to.

As for millennials, they won鈥檛 hesitate to share with friends and colleagues and even the Internet about ill-treatment. And mind you, based on the , more and more of them prefer to rent a house than to own it.

Therefore, the least you could do is offer great service. Try and make a genuine connection with people renting out your property. Make sure that you make it easy for your tenants to contact you for maintenance issues that they may have. That way, you can address issues in your property as soon as possible and not make it worse for you and your tenants

Know What Amenities Do Renters Want

Making your rental property appealing to millennials is not as hard as it may seem. In fact, they鈥檙e quite simple changes that you can do right now if you want to.

From adhering to their advocacy to simple maintenance issues, you can create a rental property that millennials will find attractive and liveable.

Good luck with the search and make sure you apply these tips for the best results!

The post Making your Rental Property More Appealing to Millennials appeared first on Blog | 皇冠体育app.

Buying your first home can feel like one of adulthood鈥檚 true markers and a dream come true. For today鈥檚 millennials, however, that dream may seem daunting, especially when they consider the other financial responsibilities that people their age commonly face. Student loans, credit card debt, and a higher cost of goods are all obstacles to becoming a homeowner today.

But with planning and hard work, millennials can get on the path to buying a house of their own. Here are some expert tips for maximizing dollars and ensuring that homeownership is a reality for every generation.

Set a budget 鈥� and use it.

Budgets seem easy enough, right? Set reasonable spending and saving limits, then follow them monthly. So why don鈥檛 more people use them? revealed that only 30 percent of consumers regularly plan using a budget. This simple tool doesn鈥檛 require an advanced degree or even paid software to implement. Set a goal for money coming in, track money going out, and shore up the difference to ensure you鈥檙e meeting your obligations and putting aside extra for that down payment. You can use a basic Excel sheet or download one of the many apps that make it easy to budget from your smartphone.

Personalize your budget.

Your budget should include categories for every area of spending, from food to transportation to entertainment. However, your life might not fit into the same boxes as someone else鈥檚 does. This is why it鈥檚 essential to personalize your budget for your specific expenses. If you have special interests, unique work expenditures, or purchases that aren鈥檛 quite category-friendly, go ahead and make your own budget categories. Tweak budget templates as you need to make them yours. Customize software and apps to work best for your situation.

Be realistic.

When you sit down to create your first budget, it鈥檚 tempting to set your goals first, then create an account of your spending that fits those goals. Unfortunately, a budget isn鈥檛 enough to change bad spending patterns and rewrite our lives to match our goals. We鈥檙e capable of change, but lasting change tends to be gradual.

If you鈥檙e looking for places to trim your budget, look first to your 鈥渄iscretionary鈥� spending. Expenses like entertainment, food, and travel are areas where we have the freedom to cut costs. Rent, utilities, and student loans are much harder to pare down, especially quickly. It can feel frustrating to only make small changes, but those changes will add up if you stick to your plan.

Check your credit.

Your someday home may be a dream on the horizon for now, but it鈥檚 never too soon to make improvements on your credit. Once you finally have the cash for a down payment, you don鈥檛 want credit issues to keep you from buying a home.

Many home shoppers start exploring the market and deciding how much house they want a year or more before they are ready to buy. There鈥檚 no better time to make sure your credit score and history aren鈥檛 hiding any unpleasant surprises. Run your free credit report from all three agencies every year and take advantage of any free credit score reports offered by credit card accounts. Use this information to get a handle on late payments, an unhealthy debt to available ratio, or other concerns on your profile.

Reconsider interest.

You probably already know how much you pay each month in credit card payments, student loans, or your car lease. Do you know how much of that amount goes to interest? If you don鈥檛, start examining what you鈥檙e paying and look for ways to cut that number down. Paying off your balances as fast as possible is the best way to ditch interest quickly, but not everyone has the means to throw cash at the problem. Instead, explore whether can offer you a better interest rate while you pay down debt steadily. You may also want to inquire with your creditor about getting a few points knocked off your rate. It never hurts to ask.

Maximize income.

While much of our budgeting advice focuses on cutting costs, there鈥檚 another side to the financial coin that鈥檚 just as important. Boosting your budget by making more money is an effective way to make big progress on your financial goals and can also make you a more attractive customer for a mortgage company. Not everyone can take on an extra job, but picking up some overtime pay or asking for a raise can help you make progress quickly. For every dollar you cut from spending, see how you can pair that with a dollar in extra income.

Make a mock 鈥渉omebuyer鈥� budget.

As you move forward on your spending and saving goals, owning a home may feel closer and closer. If you have your down payment squared away and your credit is in good shape, chances are you鈥檒l be house hunting soon. But before you start calling realtors, research what it costs to own a home in your area. After your budgeting adventures, you know that number will be much higher than your monthly mortgage payment. You鈥檒l also be responsible for costs like:

• Utilities
• Insurance
• Property taxes
• Repairs
• HOA fees

Research the average costs for these items in your area to figure out what kind of home you can afford to buy.

Buying a home is a huge goal, but it鈥檚 one that鈥檚 within your reach with patience, perseverance, and a commitment to making your budget a proactive tool. Saving for goals happens best with a budget. Soon enough, that set of keys will be well within your grasp.

Linsey鈥疜nerl鈥痠s a personal finance expert, author, public speaker and member of the ASJA. She writes for鈥�鈥痑nd has a passion for helping consumers and small business owners do more with their resources through awareness of the latest financial services.鈥�鈥�

The post Budgeting Tips for Millennials Looking to Buy a Home appeared first on Blog | 皇冠体育app.

The post What Today’s Real Estate Agents Want appeared first on Blog | 皇冠体育app.

Technology is embedded into everything millennials do, which means millennials are relying on and expecting technology to enhance the way they work. This expectation has a direct impact on how technology is applied in most industries, including the real estate sector. More than ever, real estate companies are feeling the pressure to offer up-to-date, advanced technological solutions that improve efficiency for millennial real estate agents. To cater to this tech-driven generation, everything real estate companies provide must meet five important criteria:

1. Top of the Line Technology.

Millennials typically look to work for businesses with technology that eases their day-to-day workload. In real estate, this is critical, for enhanced tech tools can significantly decrease the amount of time an agent has to spend at a desk. For example, 皇冠体育app includes as part of its tool suite an automated marketing program which instantly generates a comprehensive suite of marketing materials from an MLS listing with the click of a button. According to network feedback, agents are saving up to two hours a day using these new tools offered.

2. Convenience.

Millennials are known as the convenience generation and have come to expect and rely on the instant gratification of technology. As a business, it is important to cater to this need to retain and keep employees. Offering quick access to a suite of tools that make life easier is key. 皇冠体育app provides access to personalized websites, lead management, automated email campaigns, broadcast emails and listing automation materials and videos, all through its PrimeAgent portal. This one-stop shop is critical for saving time and giving agents more time to spend with their clients. According to numerous REI agents, they have gone from spending hours at a time developing marketing materials to doing it all with a convenient click of a button.

3. Faster and New Forms of Connectivity.

Modernizing the forms of communication with millennials is critical for connectivity. Millennials tend to shy away from phone calls and prefer texts to emails. These preferences are manifesting themselves in all aspects of how agents communicate; agents often connect with both their clients and brokers using SMS text and appreciate video as a quick and effective form of communication. It鈥檚 important that brands understand this shift and adjust their communication strategy accordingly. A good example of this evolution is 皇冠体育app鈥� launch of ExecTV, which is a video channel created to share important information with the 皇冠体育app internal network in an easily consumable form. With videos being delivered directly to Executive鈥檚 phones via SMS, messages are easily viewed in the palm of their hand in 60 seconds or less.

4. Tracked Results.

Measuring, reporting and celebrating results are something millennials covet in business. Positive results and feedback from employers give a sense of succeeding and help in maintaining a drive for continued success. In order to do this, companies need to track, share and promote their successes, especially when it comes to highlighting technology achievements.

5. Enhance Personal Growth.

Professional development and career growth are extremely important to millennials. Using technology, businesses are now able to deliver training courses through cost-effective channels that are easily accessible online and can be viewed on-demand. Offering online training tools, allows real estate companies to give brokers and agents tools that will enhance their overall success and encourage personal growth.

Companies must give millennial workers the technology they need to advance in the workplace. 皇冠体育app is just one example of a company that successfully heard the needs of its millennial brokers and agents and continues to shape its technology advancements accordingly. These newly created internal platforms are bringing millennial brokers and agents closer together and will continue to evolve as technology does.

The post Top Five Things Millennial Agents Want From Their Real Estate Brand appeared first on Blog | 皇冠体育app.

Overall, there鈥檚 been a lot of discussion about millennial home-buying habits. While the housing market has recovered since the 2008 bust, many millennials are still not buying homes. It鈥檚 a divergence from an old pattern in the United States, where home ownership has always been viewed as one of the key pillars to building wealth. According to , home ownership among millennials aged 25 to 34 is eight percentage points lower than baby boomers at the same age and more than eight points lower than Generation X.

However, millennials may not necessarily be opposed to buying homes altogether. Many may just be waiting longer; today, the is estimated at 36 years old. On top of that, some analysts believe the idea that millennials aren鈥檛 buying homes is a .

While millennials happen to be the largest group of U.S. homebuyers right now, they鈥檙e still lagging behind previous generations. millennials do appear to be interested in home ownership, but at the same time, this generation faces challenges that create obstacles to this milestone.

Declining Home Ownership is a Combination of Factors

The idea that millennials aren鈥檛 interested in buying a home can often be over-generalized or misconstrued. Some people think they prefer to spend their money on high-priced avocado brunches, and others they鈥檒l only live in big cities with a soaring cost of living. Of course, this isn鈥檛 really an accurate overall reason behind lack of home ownership. There are other barriers to consider.

Affordability is one of the biggest issues for recent college graduates and would-be millennial homebuyers. Interestingly, millennial homeownership was on the rise and showing a positive upswing. However, millennial in the first quarter of 2018. This was attributed to the problem of affordability and the rising interest rates. Interest rates on mortgages were up to the highest level in four years at the start of 2018.

Younger people are simply priced out of buying a home. Wages aren鈥檛 going up nearly enough to account for the rising costs of a home. According to , only 39 percent of millennials would be able to afford a standard 20 percent down payment needed for a mortgage.

Many millennials also report that it鈥檚 difficult to find a home in their price range, and 37 percent of buyers say when they did buy they went over their planned budget. This is compared to 29 percent of buyers of all ages.

Another barrier to buying a home is student loan debt. Now, millennials have staggering amounts of debt well before they look for a home. Outstanding student loan debt stands at $1.4 trillion in the U.S. right now. shows that anywhere from 11 to 35 percent of the decline in home ownership among people aged 28 to 30 is the result of student loan debt.

How Can Millennials Prepare Themselves for Homebuying?

For millennials to buy a home, it鈥檒l be hard to make it happen without resolving student loan debt first. Most lenders aren鈥檛 going to give a mortgage to someone who has a large amount of debt they’re already paying off. Those monthly student loan payments are eating up a significant portion of income each month. that for every 10 percent in student loan debt a person has, their likelihood of home ownership drops one to two percentage points.

The best thing millennials and young people can do is first work on tackling student loan debt. The most obvious solution is . If you can pay down your student debt sooner by simply paying more, then you鈥檇 be in a better spot to apply for a mortgage. Another method is to reduce your monthly payment; for instance, could offer leeway in this regard. If you can get a lower interest rate, then there may be more room in your budget to either pay more or get moving on a mortgage.

Regardless, paying down student loans should be a number one focus before attempting to start saving for a down payment. Making lump-sum student loan payments or if applicable applying for student loan forgiveness may be options as well.

Summing Up

There鈥檚 an unfortunate misconception that millennials don鈥檛 want to buy homes. They do, but there are very real and very challenging economic barriers to doing so. The best thing millennials can do is address the financial barriers they face.

This post is intended for informational purposes only and should not be taken as professional advice. The point of view and opinions expressed in this post are those of the author and do not necessarily reflect the position of 皇冠体育app International.听This article was written by Andrew Rombach, a Content Associate from 鈥� a financial product marketplace and consumer education website.

The post Why Aren鈥檛 Millennials Buying Homes? appeared first on Blog | 皇冠体育app.