4 Ways to Prepare Your Home for Airbnb Rental

Learn how to style up your space for Airbnb rental!

As the trend continues for real estate investors to transition their home from lease contracts to Airbnb rentals, owners are discovering higher monthly returns and less hassle with their investments. But there are a few things that an owner needs to do in order to become the kind of host that receives consistently high reviews for their property stays. In this article, we are going to share four surefire things you can do to prepare yourself to be a successful host on the Airbnb platform, while earning you some extra bucks in the process.

Update YOUR Property.

Yes, Airbnb guests want the experience of being in a home. But let’s make a distinction here... they want a nice home experience. When someone spends their hard-earned money on a place away from home to lay their head, they have certain expectations. One of the expectations is a place that is well put-together and aesthetically pleasing. If your budget doesn’t allow for full renovations, at least make sure that your home looks updated, fresh and stylish. A can of paint, yanking carpet from nice hardwood floors and adding some stylish accents (pillows, art and end tables) can do wonders for a home. At a loss for how to decorate each room? Think of each space in themes like coastal or glam or farmhouse chic. Turn on HGTV and check out some of the small, yet inexpensive ways that you can transform your property.

Provide Some Amenity.

Providing amenity does not have to be an expensive venture. Amenity for an Airbnb guest means allowing them to have things that they need and would expect at a hotel, or better. If your house has a full kitchen, with clean appliances obviously, provide additional things such as a a coffee pot with coffee and tea. If you can afford a Keurig, that would be better, less frustrating and easier solution. Keep the cabinet or pantry stocked with seasonings, cooking oil, dishes, wine glasses, eating and cooking utensils and pots and pans so that they can save money by cooking in. Also, keep cleaning products under the sink with some dish towels and leave a roll of paper towels under the sink. In the bathroom, have a couple of bottles of travel-sized soaps, shampoos, conditioners, toothpaste and some unwrapped toothbrushes. Have some bathroom cleaner and a sponge in the linen closet for their use. Also, a plunger and toilet brush, clean and neat, hidden behind the toilet will be very helpful for them. Have enough toilet paper stocked for them and include a bath mat or towel so that they don’t slip on the floor after their bath or shower.

Clean Your Home, But Be Efficient.

The best thing you can do is to keep a cleaning supply closet that’s locked when guests are present. Keep it stocked with a broom and dustpan, a mop and bucket, bleach, all surface cleaners, window cleaner, disinfectant sprays and wipes, cleaning towels, paper towels, furniture polish, bathroom cleaning soaps and a vacuum cleaner. You can also store additional items that you will replenish after each stay such as bath soaps, laundry soaps, fabric softeners, dishwashing liquid, toilet paper and travel size toiletries in bulk. Make sure that you clean every corner of your house. From the floors, to the walls and counters, deep cleaning is required, particularly in the bathroom and the kitchen where water and dirt create nasty build-up. Clean your appliances inside and out. And make sure to wipe down window ledges and blinds. These are crucial areas to focus on to garner great reviews.

Linens, Linens, Linens.

When hosting an Airbnb rental, linens are extremely important. Not only do you want a nice looking bedspread and pillows, you also want to make sure that you have good quality sheets. But washing one set of sheets after every checkout would be incredibly time-consuming and inefficient. The best thing to do is to have four or five sets of sheets and pillowcases per bed in the home so that you only have to drop them in the washer and dryer once a week. You also want to do the same for towels. You’ll probably want to have about five sets of body towels, hand towels and face rags for every 1 bedroom in the home. Wash all your linens thoroughly with fragrance-free detergent to prevent your guests from having allergic reactions. A great, liquid fabric softener will keep them in good condition. Fold them nicely and store them neatly in a clean linen closet or drawer for easy access.

Extras

• You definitely want to make sure to have a fire extinguisher in the home and to assure that your smoke detector is in good working condition.

• Make sure all light bulbs work and keep some extras in your cleaning supply closet.

• All windows should have blinds or curtains for privacy.

• Leave a welcome check-in letter for your guests with instructions for the house. Let them know where they can find the items that they need, how to use cool appliances and how you can be reached for an emergency.

• A couple of other things to consider would be snacks. Grab a big bag or box of cookies, crackers and/ or chips and leave a basket full on the counter for guests to snack on. Just refill them after each check out and store them away for the next check-in.

• Snag some local attraction and tour pamphlets from a local hotel and keep them in a nice neat rack or basket in the living room. This will give your guests the opportunity to know what’s going on in the city and to experience some of the local attractions. You might want to include a binder of local area restaurant menus so that they can go for a meal or order take-out.

10 Ways To Add Value To Your Home

In this article, we are going to share the top 10 ways that a homeowner can improve their house to add real value and to appeal to a buyer willing to pay top price.

When a homeowner considers the things that may add value to their home, sometimes they mistake personal aesthetic preferences with necessary additions. Things like “man caves” and “she sheds” can often be designed in a way that is too specific to the owner’s style to appeal to a potential or future buyer. Movie theater rooms are more likely to sell better in high-end neighborhoods, if they are neutral in design, but that’s not always a guarantee. And don’t let us start with pools, which create too much liability, expense and insurance issues to be worth it. In this article, we are going to share the top 10 ways that a homeowner can improve their house to add real value and to appeal to a buyer willing to pay top price.

Fresh Paint

Remember, neutral colors are best such as whites, grays and calming tans. You can get a good quality paint for about $30 a gallon and it will do wonders to adding freshness and a sense of simple style to your home.

Update the Kitchen Hardware

It’s not always necessary to go through the expense and hassle of changing out cabinets and countertops, unless they are in horrible condition. New handles and hardware can update your kitchen in a major way and can be inexpensive to boot. Cabinets and counters can use fresh paint and there is paint made appropriately for those items.

REMOVE THE CARPET

(If there is hardwood under the carpet) This is typically the case in older model homes. Carpet holds allergens, odors, dirt and stains that can often be hard and expensive to remove. On top of that, a lot of carpet just makes the house look dated. If you have hardwood floors, opt for it and just remove that carpet.

Curb Appeal

The outside of your home if the first thing that people will see when coming to view your house. Therefore, it’s important that the lawn be neat and mowed. The walkways should be swept, the doors and porch may need to be painted to update the look. And during the holidays, add simple decorations to create a welcoming feel. Make sure the lights work and the gutters and spouts are cleaned. And don’t forget to clean and sweep the patio.

Take Care of Major Repairs

When a home goes into contract, an inspection is always necessary if the buyer is using a mortgage company for a loan. If the major items are not in good working condition, you’ll be asked to take care of them or to lower your asking price. Take care of them sooner rather than later. Leaky faucets and runny toilets are huge. But so is the plumbing and any water damage therein. Update old that furnace and hot water tank, even if just for your own safety and peace of mind. And don’t forget to have any electrical issues repaired.

Declutter Your Home

Make sure your space is neat and organized. A messy, disheveled home is a major distraction to someone interested in your home. Find a proper place for your items and keep it clean. Organize rooms, closets and storage spaces so that all of your things fit neatly and properly.

Update the Kitchen Appliances

The kitchen is the space used for cooking and entertaining, so it tends to be the place where people congregate. Updated appliances are very important to creating a great vibe in the kitchen, that feels current. Here’s a secret: three times a year Lowe’s deeply discounts their appliances to make room for new inventory. You can get great appliances at very affordable prices.

Bathroom Updates

The bathrooms are very important to the value of your home. Make sure that the hardware is updated. If necessary replace the toilet (or just the seats if that’s all that’s necessary). Make sure that the faucets and shower heads are not leaking and that the toilets are not running. The caulking around the tub should be neat, floors should be clean and if need be, add a fresh coat of paint.

Smells Smells Smells

The way your home smells will either attract or repel potential buyers and guests in general. Please don’t smoke inside your home, please do neutralize pet odors and heavy cooking smells. Carpet tends to hold a lot of these odors, so replacing it might be a good idea, if you can afford it. And cleaning your vents will help with the odors a great deal.

Lights Must Work

Visit every room and outdoor space in your home that has a light socket. Make sure the bulbs and all switches work appropriately. Buyers need to see the home as clearly as possible. As well, if the lights don’t work, it could point to an electrical issue that will repel a buyer from giving an offer. Take care of those lights as soon as possible.

Hot Areas Alert: Do You Own Property in the Following ZIP CODES?

Do you own property in these zip codes: 43211, 43201, 43203, 43206?   These zones are currently the hot button zones.  Investors are crawling and scouring looking for abandoned and vacant properties to buy for cash fast. The Franklin County Treasurer's Office is aggressively pursuing owners who have not paid their property tax obligation.  Investors know this and often use this information to leverage absentee owners into selling their properties for lower dollar values.  

Let me say this:

1. If you owe back taxes on your property and you want to keep your property, make arrangements to pay on a formal agreement with the Franklin County Treasury Department.  https://www.paydici.com/franklin-county-oh/search/new

2. If you are receiving “We BUY HOUSES Mail,” call me at 614-778-8503 especially if you want to sell BEFORE you call these people.

3. Understand this, whatever an investor is willing to pay off market, it is very likely much much lower than what the property will sell for on market: even after paying a commission.  

Bottom line, I love to see owners receive their fair market value.  If you don’t get your property in front of the market no matter what the conditions is, you are surely guaranteed to be giving away your hard earned equity.  

Dear Homeowners: Great Real Estate Stats for Fourth Quarter

“In 2017 the average sale price in Central Ohio was $211,482. In 2018, the average sale price was $232,228.” - Theresa Cray

DEAR HOMEOWNERS:

I am writing to you to talk to you about our current housing market. I thought it would be nice to give you a year to date summary. I hope you find the information useful and informative. After you read through, be sure to let me know what else I can do to add value for you. I am writing and speaking to you weekly, so we definitely have time to answer your questions. 25 years of serving, has really given me a broad base to drawn from.

With all that said, here is some good news about our phenomenal City of Columbus, Central Ohio and the broader community. Our city has been growing for the past several decades. It’s a bright, clean, moving into the next phase, city. We now have great downtown housing. The city is doing a lot of revamping in the more Central zones. We are pure and simple, growing! It’s a wonderful time to live and work in our town. We are talking about serious growth. We have 2 Million 78 thousand people in our Metropolitan area. The actual city of Columbus has roughly doubled from approximately 470,000 residents to nearly 900,000 residents.

Let me get into how our growth has impacted our housing market in recent years? Well here are the facts: Housing prices have risen 10% in the past 12 months. Real estate professionals have sold approximately 24,000 homes from January 2018- September 30, 2018. Homes are also selling for 99% of asking price in-spite of the 10% increase in price points. You might ask, what are the real numbers in dollars? In 2017 the average sale price in Central Ohio was $211,482. In 2018, the average sale price was $232,228. We all know this past spring demonstrated very high demand. Creating an overheated market place. Buyers were willing to overpay for property. They were also willing to buy property in less than optimal condition with fewer updates for higher pricing.

The largest segment in this market place are families with children, who need to move just after school is out (now May) and often also have to sell a home. This “frenzy” begins typically early March. It changes, in August and I bet you can guess why? The reason is because the children are now in school and who really wants to have their kids out of school or starting late. As a parent, I surely don’t want to deal with moving after school starts and I definitely want my kids school situation wrapped well before we get through the summer.

In the fall we still have a great market. It is simply not usually the folks with small children. It is more likely people who are relocating, or those who simply are ready to move before the end of the year, or folks who need more space because of a change in family status, or investors who know it’s a good time to sell and folks who are thinking about downsizing into a more appropriate home size for their households. And of course, it is also the millennials who are now ready to buy their first home. The point is there is a market and it is a rather robust market by historical Columbus standards.

There has been a lot of speculation in the news, and other social media discussions. Here is my take, it is too early to tell. With that said the late Winter and early Spring will help us to assess the real truth about where the market is headed. It will also give us a great clue for the 2019 home selling opportunities. I believe we will see more of the same very high demand. I say this for a couple of reason: 1.) What I know for sure is our population is not getting smaller and 2.) Our population is not getting younger. Both of these factors are reasons why people move. Really, when we talk about markets; we are talking about people and their lives. People don’t move because they love to move. They move because they need to move and their lives are changing.

Here at Take a Look we understand the needs of our clients and how important the decision to sell your home is for most people. It is our goal to make your transition to your next home a seamless, well thought out process, with care and concern. I hope you find this information helpful and informative. Let me know if there is anything else I can do for you and your family.

Thanks for stopping by,

Theresa Barron, MBA- Broker -Take a Look Real Estate

Things Baby Boomers Should Consider When Downsizing

In today’s market, there is a massive phenomenon taking place in the real estate industry. The Baby Boomers, the generation of people born between 1946 and 1964 are downsizing. There are 80 million Baby Boomers and 10,880 people will turn 60 every single day for the next decade. This generation controls 2/3rds of the wealth, or 66 cents of every dollar. The pharmaceutical, travel and real estate industries are all vying for that wealth. When we look back over the many industries affected by the Baby Boomer generation throughout their lives, we discover that this generation is responsible for the explosion in the sales of Gerber products, the Ford Mustang and the Minivan!

Now they are making decisions to slow down and simplify their lives. Many are retiring, becoming grandparents, dealing with health realities and even taking a look at their nest eggs. For a great many, downsizing is the next logical step for them. However, selling one house to buy another isn’t something to be taken lightly. Taking the proper steps in a timely fashion can allow a client ease as they move into the next phase of their life.

Concerns for Baby Boomers

For Baby Boomers, there are three major concerns for them as they ponder downsizing. The first is that after so many years living in one house, many have accumulated so many material items that will require movement. Some of these things include clothing, furniture, art, appliances, important documents and even family memorabilia. With lots of stuff comes lots of products to move, store, sell, or even throw away.

The best thing to do would be to execute a process of storing and/ or selling your unnecessary items at least six months to a year before you begin the selling process. That way, when the time comes to move, you will be ready because you’ve let go of unneeded items over a gradual period of time.

Secondly, Baby Boomers must consider the condition of the house that they are currently living in. Things such as the roof, floors, walls and any damage or updates necessary to repair plumbing, electrical or foundational issues should be addressed. Understand that the condition of your home will affect your asking price and what a ready, willing and able buyer will pay for it. If you can budget for updates and repairs, or if your insurance company can be of assistance, begin assessing your home and make the necessary changes.

Finally, they are concerned with liquidation. If a homeowner is on government assistance, it might be hard for them to liquidate. It’s important that you consult with a real estate professional, such as those with Take A Look Real Estate Brokers, to help you navigate the terrains of such transactions.

Take A Look at Episode 6 of “Ask Theresa” where she shares powerful solutions and smart money moves for Baby Boomers who are considering downsizing. It’s a must watch.

Click here.

How to Find Your Home in 3 Shopping Days or Less

In a seller’s market, purchasing a home requires a different lens through which to see what’s what. Nearly a decade ago, the market was such that buyers almost thought that they could get something for nothing. Just like during the Great Depression, people with a little cash who got their hands on the plethora of cheap houses have amassed fortunes.

But in today’s real estate market, the seller holds the power. They own the small amount of inventory that you will have to compete for, if you really want it. It’s important that a buyer have the proper expectations set in their minds to find a home in 3 shopping days or less. In this article, we are going to explain those particulars.

Number One: Get the right professional

You’ve got to have the right Realtor. It just is what it is. A qualified, professional agent gives you so much access to properties in your city, as well as the conditions and situations that dictate their prices. An agent will help you assess your values, needs and resources to help you find the home that is right for you. But more importantly, an agent is going to make sure that you understand what it takes to be efficient with your time and money, while still beating out the competition. Remember houses are going fast.

Number Two: Know what’s up

Get the scoop on how to operate as a competitive buyer in a seller’s market.  Your agent should first understand 2 very important things: everything that your lender requires to approve your loan and everything that you require to buy a house. Loaded with that arsenal of information, your agent should be expected to do a search on the few homes that should fit your criteria, in the most optimal neighborhood, at a price point you can afford… with an appointment scheduled for you to see the home ASAP!

Number Three: Keep it or throw it

Because of the time constraints that a seller’s market forces on a buyer, you have to understand that there is no time to waste. Therefore, hemming and hawing over houses to the point of analysis paralysis is probably not the best use of your time. You should expect your Realtor to have found the closest matches to your home ideals. So if one of those houses doesn’t have all that you need in a home, don’t ponder it to death. Just throw it and trust that one of the homes on your shopping list will suffice. A good agent makes this possible, if your criteria is realistic.

Number Four: Meet it or exceed it

So once you come across the home that gives you goosebumps, one that has what you want and need, one that comes in a location and price that you can work with, now the next game begins. The rest of the homes on the shopping list should either meet or exceed the one that resonates with you. You see, now you have a standard. The next house that you walk into needs to be as good as or better than the standard. If it doesn’t meet the standard, don’t waste time walking around it, looking through it, and thinking about it. But, when you come across the house that beats them all…

Number Five: Make an offer and keep your fingers crossed

Immediately submit an offer. Know that lowballing in a seller’s market will not get the desired result. In this market, it would almost be considered an insult to waste the seller’s time in such a way. Make it a good offer that’s fair, and make sure that your agent would consider your offer to be competitive.

Keep in mind what your lender allows. The house should be in a certain quality of condition for the lender to approve the loan, and they will conduct an inspection of their own. As long as the seller discloses about the condition of the property, as long as the lender’s inspection goes well, and as long as there is clear title on the property, you won’t have to go back out into the market to shop for more homes.

Number Six: Understand the money

The asking price of the house is not the only price you will need to think about. In this market, seller’s expect what’s called earnest money, which is money that you give in good faith to prove how serious you are about buying the home. It’s typically a check for somewhere between $500 to $2,000. Without out this, the seller will not take you seriously, and probably be annoyed at having their time wasted when they could get a full offer and earnest money from a more serious and education buyer.

You will have to pay a downpayment that’s typically higher in a seller’s market than in a buyer’s market. Depending on the type of loan that you are approved to acquire, this could be anywhere from 3.5% to 20%. And though down payment assistance exists, you may or may not get access to it in today’s market. As well, in a buyer’s market, you were more likely to get sellers to pay closing costs. However, today, buyer’s that expect sellers to pay closing costs can expect their offers to be at the bottom of the stack. Depending on your credit score, some lenders may offer assistance on down payments and closing costs. But, know that this might rest on your budget.

In conclusion...

Agents with Take A Look Real Estate Brokers are trained to take your desires and needs for a home, and the requirements of your lender, and implement them into a plan of action. This plan of action should take 3 days or less to execute, and if done properly, you can boast buying a nice, new home, even in a competitive seller’s market.

If you are in the market for a new home and would like to talk to one of our professional agents, contact us!

3 Tips to Downsize Your Home and Your Life

So you’ve been thinking about downsizing and getting a fresh new start.

Great! For empty nesters, retirees, and people who just need a certain level of change, downsizing can often be a wonderful way to initiate the process. It can provide you with a sense of freedom, because often when you transform one area of your life, all the other areas are transformed in the process.

You know how it goes. Paul and Miranda decide that they really want to embark upon a more exciting lifestyle. Their friends, Damon and Ashanti, always have great travel stories over dinner and they want some of that mobile, global juice in their glass, too. The thought of downsizing crossed Miranda’s mind, but it wasn’t until after another inspiring dinner with their friends that she decided to ask Paul his thoughts about it. She was starting to feel a bit restless since their daughter, Kaitlyn, had gone off to college at Bowling Green. And since Paul was on the brink of retirement from his 20 year role as an advertising consultant, it actually made sense to him, too.

For most people, downsizing isn’t just about purchasing a smaller home. It’s about following your imagination into a world of less waste, clutter, confusion, and every part of your lifestyle that isn’t what you envision for yourself.

Here are 3 tips to consider in making a transition to a home environment that suits your changing lifestyle. And if you stick around, you’ll learn about an interesting economic opportunity to downsize and supplement your retirement income in the process.

Tip 1: First downsize your mind.

In today’s world of global, technological expansion, we as humans have more access to information than at any time in human history. Our ability to make new, like minded friends in far away countries, heal people with amazing new medical technology, and even gain access to innovative productivity solutions at the tap of a button prove that the information age has been of huge benefit to modern society.

However, the flip side of this progress is information overload! Social media gives us access to so many people with so many opinions, rational or otherwise. Thousands of television channels provide us not only with a variety of entertainment choices, but also the dueling narratives of the corporations that control the media. In a 1 mile stretch down streets like Broad or Main, we’re bombarded with advertising billboards, political bumper stickers, and so many restaurant choices that your taste buds dry up before you even sit down to eat.

To downsize your mind is to take back your clarity and sanity, and to decide what information is productive, necessary even, to your life experience. Are there social media applications that seem to consume your day and drain you of positivity and focused performance? Yes, knowing what’s happening around the world is important, but is watching national and international unrest on a nightly basis taking away from things you could be learning, like how to speak Portuguese or how to play the didgeridoo?

For some, the downsizing of your mind isn’t even about technology. Are there people in your life that you could really take a break from, even eliminate from your inner circle? What about that job that you despise. Isn’t it time to finally find something that fulfills you and employs your talents and passions?

Moreover, for all of us, some of the downsizing needs to be self reflective. Our own beliefs and habits can hinder our efficiency and creativity more than the ugly faced troll that insulted your heartfelt Facebook post. Are you harboring negative beliefs about yourself or others that are clearly no longer serving you? Do you have unhealthy habits that affect your health, relationships and finances?

Begin to take inventory of the information you are processing through technology, relationships and entertainment and decide which things really empower you and toss out those that don’t.

Tip 2: Downsize your clutter.

Let’s talk about that “catch all” drawer in your kitchen with the pens, business cards, sticky ketchup packets, bandaids, maroon lipstick, hammers, and the M.C. Hammer cassette tape “collectible” from ‘91 that you plan to play for your future grandchildren. You might even be more like the author of this article that thinks Architectural Digest magazines are as important as vegetables, and has to resell half her book collection back to Half Priced Books every year. Or maybe you think that all those slacks from the Men’s Warehouse that you bought on sale, two years ago, will fit you after you drop 15 pounds!

Unless you are the neatest most organized person on this side of the Erie, its possible that you have some clutter that you need to let go of. I get it. This is also a mind thing. We keep extra trinkets, gadgets, doohickeys and whatchamacallits, because we think we’ll actually need them or use them again. In other cases, subconsciously, it’s a connection, or even a protection mechanism, associated with our pasts. Either way, we have to know when enough is enough.

Clearing out the spaces and places in our homes can be such a rich, rewarding feeling. Healthy energy can flow freely throughout the crevices, corners and closets leaving us with a sense of calm. As well, when our home is clutter free, our clarity is heightened, as well as our ability to feel at peace in a home that isn’t nagging for this or that to constantly be done.

Consider going through your closet to eliminate extra items that you don’t need any longer. Think about those drawers that when emptied could house a new pair of nice cooking utensils. Throw out all of those old things in the garage that collect dust and cobwebs. Clear out the bathroom cabinets of those outdated hair products and toiletries. Hair spritz! Really? We need to stop it. By the way, I promise you don’t need to hold on to all those “magazines”. Your wife really hates them.

Overhaul your home and then just watch how much more alive you feel knowing that your house is less congested.

Tip 3: Downsize your home.

Did you know that the FHA (Federal Housing Authority) has a program for people who are looking to downsize that could potentially eliminate having to making a monthly payment at all? For people who are 62 or older, the Home Equity Conversion Mortgage program (or HECM for short) is a reverse mortgage solution that enables you to use the equity in your new home as monthly mortgage payments. For some people, this is an excellent source of supplemental retirement income and a smooth downsizing transition into a home that suits your life better.

There are certain rules and guidelines that must be met to qualify for this program. But as long as you do, this could potentially be a perfect fresh start to a new, exciting and stress free chapter of your life.

Reach out to Theresa Cray, broker with Take a Look Real Estate. She’ll give you all of the information that you need in order to understand the program, find out if its the solution to your downsizing needs and shepherd you through the process successfully. She’s been in the real estate industry for over two decades and can boast a vast array of experience, knowledge, education, and compassion. Her passion is for the people and she uses every amazing tool in her collection to fulfill her client’s real estate needs and to make sure that their lifestyles and livelihoods are markedly improved through working with her.

If you would like to have an inspiring conversation with her about all of the resources available to you so that can downsize your lifestyle with ease and success, complete the form below. We will also make sure to send you our monthly newsletter so that you can get the inside scoop on Columbus real estate. Besides you can impress your friends at the cocktail party with all your newfound economic knowledge. As well, tune in to the Take A Look Real Estate Brokers Facebook page by clicking here and check out the “Ask Theresa” real estate live stream every Wednesday at noon. She might even be able to answer your questions live!

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