by ireilly | Nov 2, 2022 | Business, Real Estate, Shawn Boday
Due to the rapid emergence and growth of tech companies and employees in the Pacific Northwest, there has been a significant strain on the region’s real estate inventory. To address this issue, a progressive strategy has been implemented to improve the supply of real estate in Oregon, Washington, Idaho, and Montana.
Perday LLC is a real estate investment firm that believes everyone should have the opportunity to live in a well-designed, comfortable home. We are committed to providing the necessary resources to help develop the areas most in need of new housing. Aside from office buildings and retail space, other infrastructures, such as industrial and residential areas, contribute to the quality of life in the region.
To provide the best possible service to our investors, Perday LLC works with the local community and developers to increase the supply of real estate while maintaining the necessary balance between the residents’ needs and the region’s natural beauty. Every day, we are constantly analyzing the data and developing a strategy that will allow us to achieve our goals. We also work with the developers and the community to improve the quality of life in the region.
The mission statement of Perday LLC serves as the company’s core values and is the cornerstone of its operations. Although our projects may vary depending on the region we work in, our goal is to provide the best possible service to our investors. We value the individuals who work for us and are committed to providing the best possible service to our investors. Through our network of contractors, bankers, and developers, we are able to make successful deals with companies that provide investors and the local community with the best possible value.
It’s no surprise that our clients and tenants give us high marks because of how dedicated our team members are to providing the best possible service. We also have a Per Day approach that allows us to follow simple guidelines that will lead us in the right direction. One of the most important factors we consider when it comes to providing the best possible service to our investors is the level of respect everyone should have. This is demonstrated by the way we treat each interaction. In addition to being able to provide the best possible service, we also take into account the responsibility that comes with being a steward of the local landscape. Every day, we are able to enhance the brand of Perday LLC by delivering the kind of support and service that we can all be proud of along the way.
by ireilly | Nov 2, 2022 | Business, Real Estate, Shawn Boday
Whether you’re an investor, a renter, or just curious about real estate, property managers can do much more than just collect rent. They can also perform other duties that are beyond their usual remit. A property manager is a hired individual or entity that is responsible for overseeing and managing the daily operations of a real estate investment. Their responsibilities include collecting rent, filling vacant units, handling maintenance requests, and setting the budget for the property owner. Sometimes, property managers are hired by real estate investors who don’t live near the property. They can then take on the day-to-day operations of the property.
What Do Property Managers Do?
The goal of hiring a property manager is to protect your investment and provide you with the best possible return on your real estate investment. Investors can hire property managers for various reasons. Some of these include wanting to take a more hands-off approach with their properties or simply looking for a local professional to handle their rental units. Here are some of the common responsibilities that property managers have.
Follows Landlord-Tenant Laws And Regulations
Since you’re an investor, it can be hard to keep track of all the different regulations and laws that apply to landlords and tenants in different areas. Having a property manager handle these regulations can help you avoid potential legal issues. Usually, property managers are knowledgeable about the local laws and regulations in their areas. In some states, there are specific requirements that apply to the amount of security deposit that a tenant can be charged. Having a property manager handle these regulations can help prevent potential legal issues. For instance, if the property owner accidentally asks for a deposit that’s beyond the legal limit, it could create a potential legal issue.
Acts As A Local Presence For Out-Of-Town Owners
As an expert in their field, property managers can also serve as a local presence for out-of-of-town investors. Suppose an individual has lived in Texas their entire life. In that case, they might not be able to properly manage the operations of a property in different areas, such as New York or California. Having a property manager take care of these details can help the property owner avoid potential issues.
Handles Maintenance Requests
A property manager can also handle in-person upkeep and maintenance requests. Having a property manager on site can help address any issues the tenant might have. Having a dedicated staff member can help alleviate any frustration from a tenent. Issues such as broken appliances or wildlife in the home can cause frustration due to a lack of support from the landlord. A strong local presence can help prevent tenants from leaving your property when their lease expires.
Shows And Leases Vacant Units
Owners can also save a lot of money by working with a property manager instead of marketing their property on their own. Having a property manager on site can help attract new tenants and keep existing ones. If an out-of-state investor or property owner lives in a different state, showing off their property may not be an option. Working with a property manager can help owners market their property and show off the full potential of their space.
Collects And Deposits Rent
As part of their duties, property managers can also collect rent. Some companies and property managers use online payment methods to help property owners get money quickly. Delinquent payments, evictions, and collections can also be handled by property managers. Working with a property manager can help owners save money and time by making these tasks easier for them to handle.
by ireilly | Nov 2, 2022 | Business, Environmental, Real Estate
The Pacific Northwest is unlike any other region in the world. It features abundant natural beauty, magnificent mountain views, and lush green forests. The protection of this region’s environment is a must. As a responsible steward of the land, Perday LLC takes pride in being able to make a significant contribution to the preservation of this region’s natural beauty. We work to meet the community’s needs by carefully managing the development of residential housing. One of the most critical factors that Perday LLC takes into account when it comes to developing its real estate strategy is the implementation of comprehensive environmental impact statements. This process ensures that we are cognizant of the projects we work on and focus our resources to decrease our environmental impact. It’s easy to see the positive effects of better infrastructure and more space availability on the people who live in our communities. However, it’s also important to consider the impact of our activities on the environment.
Healthy Land – Sustainable Future
The concept of holistic land use and management has gained widespread popularity in recent years. Many people see the movement’s end result as restaurants taking a more sustainable approach to food production. However, this doesn’t just apply to the restaurant industry. Various organizations, such as HolisticManagement.org, provide valuable information and resources to help consumers, developers, and farmers make informed decisions when it comes to managing their land to reduce the impact on the ecosystem. Through our partnership with various organizations, Perday LLC has been able to create a sustainable future for the environment. We aim to help solve some of the world’s most challenging environmental problems by working with local, national, and global governments.
Real World Challenges Require Real Estate Solutions
It’s unrealistic to think that everyone would be able to live in harmony with nature without negatively affecting the land’s natural features. Unfortunately, this is not possible on a planet with more than 7 billion people and growing rapidly. Aside from the basics housing provides, the world also has to deal with the infrastructure needed to support the needs of a growing population. Through our approach to developing real estate solutions, Perday LLC has been able to find ways to meet the needs of the community while still maintaining a balance between the natural resources that the community relies upon and the needs of the people who live there.
by ireilly | Jul 28, 2022 | Business, Real Estate, Real Estate Tips, Shawn Boday
As a landlord, you will access lots of personal and confidential information about your and prospective tenants. Highly sensitive information such as photo IDs, social security numbers, bank account numbers, and background checks will be available to you. One of your duties as a landlord is to ensure that this private information is kept secure and out of the reach of prying eyes and criminals.
Protecting tenants’ private information involves physical and digital safeguards. Increasingly, most transactions and documents are in a digital medium, but that does not mean you can skimp on physical security measures.
Intelligent doorbells and smart locks are high-tech ways to secure access to your office. Smart locks can alert you on your phone if someone tampers with your lock, while intelligent doorbells alert you if someone rings the doorbell. The mere presence of security cameras inside and outside the office will deter thieves. For even more security, consider getting a 24-hour monitoring service through a company.
If you accept checks and money orders for payments, consider getting a lock box on your office door with a letter slot on the outside. This will let tenants drop off checks while preventing a would-be thief from simply prying a drop box from a wall.
Physical records such as leases, security deposits, and bank account numbers can be kept in a safe for maximum security. There is also an option of securing sensitive files and information in a safety deposit box at a bank or other off-site location. You should also shred any unnecessary files containing personal information that you no longer need. If you handle lots of paperwork, you can outsource the shredding to a document shredding company that will pick up and shred the files for you.
Steps to take for digital security include securing your internet connection. Make sure the Wi-fi you use is password protected, and consider using a VPN for maximum privacy and security. Two-step authentication when accessing emails and software programs is a great way to prevent unauthorized access to your tenants’ data. Even if a password is stolen, the two-factor authentication system will prevent the thief from being able to access sensitive information.
Accepting payment via a credit card may sound appealing and convenient, but it poses a security risk. It is best to accept payments through encrypted networks like PayPal and direct bank transfers if you can.
Your work computers, laptops, and smartphones will likely store a plethora of tenant data. If they get stolen, that could mean trouble for you and your tenants. Consider installing a software program such as Absolute that will let you track the location, block access, and delete the contents of any stolen computers remotely.
by ireilly | Jul 28, 2022 | Business, Housing Market, Real Estate, Real Estate Tips, Shawn Boday
Filing your income taxes as a rental property owner is a little different from filing as an individual. You essentially own a small business, and your taxes will be higher for that reason. Fortunately, there are a few different ways you can reduce what you’ll have to pay to the IRS.
Start With Deductions for Property Repairs
You can start to get more out of your taxes by remembering to deduct your repair costs. If you have paid out more than $600 in a 12-month period for professional repair services, you can deduct those expenses on your income tax form. Be sure to keep receipts in case you’re asked to verify your repair expenses.
Don’t Forget Your Home Office
It pays off to use a room in your own home to manage your rental property. As long as you use this room solely for this purpose, you can deduct a portion of your rent or mortgage as a business expense. Be sure your home office is not used for recreation or other purposes, or you may be disqualified from using this deduction.
Add More Revenue Sources
You can increase your income potential by adding amenities and services to your rental property. Consider investing in coin-operated laundry machines, snack and beverage vending machines, and other money-making opportunities. You can also offer services, such as landscaping services, to your tenants. Charge a few dollars over the fee charged by the landscaping service to help you make these services more profitable for you.
Use Schedule-C to Your Advantage
When you file a schedule-C form for your taxes, you can make even more deductions. Under this tax filing method, you can deduct expenses associated with any tasks you perform in the management of your property. For example, you can deduct the gas and mileage used to deposit rental income or to drive to your rental property. You’re also allowed deductions for time spent hanging rental vacancy signs, buying supplies for the property, and performing similar tasks.
If you’re unsure about the deductions and incentives that are available to you, talk to an accountant or tax attorney. A professional can help you prepare your taxes correctly. Additionally, they may know of new tax breaks that are available to you since they will keep up with how tax laws change from year to year.
