As a landlord, you might have considered offer short-term rentals. With the rise of platforms like Airbnb and VRBO, many property owners are seeing the potential for increased revenue and flexibility. However, it’s important to weigh the benefits and drawbacks before jumping in. The Advantages of Short-Term Rentals Diversified Income Stream One of the main… Read more »
If you are buying or selling property in the state of Michigan, you can essentially cut out the middle man by handling the sale through a land contract. In such a sale, the seller sets up an installment plan though a contract with the buyer that states the price in addition to how the taxes,… Read more »
The past few years have been chaotic for everyone, but especially so for the real estate industry. Oakland County landlords are understandably interested in the real estate trends in the area. Knowing where prices are going and how the market is affecting our local real estate will impact how much rent they can charge, if… Read more »
Currently, many landlords are feeling the impacts of inflation. Energy costs and property costs are rising, and this is forcing landlords to increase the price of rent. Nationally, rental costs have risen 11.3 percent over the past year, and it doesn’t seem to be stopping there. As a landlord, then, you have to decide how… Read more »
When in the market for income property, there are many points to consider before signing a purchase agreement and committing to a years-long mortgage. But there is one item to always remember: you want an income property to function as a steady source of income. But how can you ensure that your property is offering… Read more »
Real estate is one of the best investments you can make. However, before you commit to buying an investment property, you should have a professional home inspection performed. Here’s why: You’ll understand what you’re buying Think of a home inspection as part of your investment. While hiring an inspector can cost a few hundred dollars,… Read more »
Downtown Detroit is on the rise. With recent developments and companies returning to the city, vacancy rates in prime office buildings have dropped. However, this also means that finding prime office space is now more difficult than ever. According to the annual Detroit Skyline report by the Royal Oak office of JLL, more than 92%… Read more »
If you’re thinking about buying a home in the near future, you may want to stick around Motor City. In addition to the city’s rich history and vibrant cultural scene, brokerage firm Redfin has recently named Detroit the most affordable city for middle-class homebuyers. Redfin estimates that in order to afford a “typical” home in… Read more »
According to a new study conducted by the University of Michigan and Harvard University, Detroit’s demolition program may have curbed crime rates and decreased firearm violence. First, some background: Thousands of houses in Detroit sat vacant and abandoned for years after their owners moved out to the suburbs or had their homes foreclosed. Many of… Read more »
Good news for affordable housing advocates in our area: on July 22, Michigan Governor Gretchen Whitmer and Detroit Mayor Mike Duggan announced that Detroit will receive over $6 million in tax credits for low-income housing. The credits will help finance more than $100 million in housing investments. The Michigan State Housing Development Authority (MSHDA) has… Read more »
