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Take Care While Moving Things Out the Door

Put your cats and dogs into a separate room or a cage while moving things out the door. Even if you are moving just one box outside, you need to secure your pet. If you put them in a separate room, lock it and hide the key so nobody else can open it. Put a sign on both sides of the door that the door must be kept closed to protect your pets.

Many pets panic when you start moving around the items in their home, and they dart out the door in fear. If they are really panicked, they can run wildly, and when they stop they do not know where they are and can’t get home. Many pets are lost when people move, and it’s preventable.

Set Up the New Home in Advance

If your new home is relatively close by and it’s possible, set it up for your pets before their arrival. Put up the cat tree, set out the cat litter, put out water bowls, toys, and dog and cat beds. It will be easier for them to adjust if some familiar items are waiting for them. Keep them in one part of the house as they adjust, and don’t forget to give them lots of attention even though you are busy.

Consider Collars, ID Tags and Microchips

Make sure your dog or cat is microchipped even if they wear a collar with an ID tag. If they get lost and lose their collar, someone who finds your pet can discover they belong to you when they check the microchip at a vet or animal shelter. Update your contact information with your new phone number and address.

All dogs should have collars or harnesses and ID tags. Some people are afraid of putting collars on their cats, and other people use break-away collars made especially for cats. If possible, put a collar and ID tag with current information on your cat.

Take or keep a current photograph of your pet so if they do get lost, you can make posters and show the neighbors the photo.

Contain Your Pet during transport

If you are traveling by plane, you will need to put your pet in a pet carrier of a type approved by the airline. Check with the airline in advance for the criteria the pet carrier must meet. If you are driving to your new house, put each cat into a cat carrier. It is NEVER safe to transport a cat in a car without a cat carrier. If they escape from the car when you make a quick stop on the road or Jr. rolls down the window, it’s unlikely you will see your cat again.

Dogs may be transported in carriers or on leashes, depending on how you and your dog are most comfortable. But make sure they are completely restrained if a window is open and when you open a car door. The new environment can be disorienting, leading them to do unexpected things. A carrier or secure cage is safest.

Both cats and guinea pigs do not like change, and should be carried carefully. Guinea pigs’ hearts are at risk in a chaotic move. Move guinea pigs in small, warm carriers that are not too large.

Like cats and guinea pigs, birds will be nervous about the change a move brings. Make sure they are in a secure cage when moving, and keep them in a cage until things calm down in your new house. It doesn’t matter if they normally fly around your house. This is not a normal time. Make sure the bird stays warm. Ask your vet about covering the cage during the move.

It’s difficult to transport fish, who can die from the stress. If you are moving to a nearby location, you may be able to move them in your car in bags of water from their aquarium. Check with your vet and a fish-savvy pet store about the best equipment and methods. If your move is not nearby, you should probably rehome the fish with a loving person who will care for them.

Keep Vet Records Handy

Get your pet’s records from your vet, or if the records are electronic, ask your old vet to forward them to your new vet. Make sure you have your pets’ vaccination books handy, and that they are not buried in the bottom of an unknown box.

Use a Leash

After your move, keep your dog on a leash when outside unless your yard is fenced. Do not leave your dog alone outside even in a fenced in yard for the first month or so, because it’s possible there is an escape route you have not discovered but that your dog will. Make sure you have a leash on your dog when you bring them into the house. It takes at least a month before a pet understands they live in a new location.

Keeping Pets Safe Inside in the New Home

Once you get to the new home, keep your pets in a separate room away from the front door until they know where they live. This is a repeat of what you did when you were moving out of your other house. However, it’s even worse if your cat or dog gets loose shortly after moving to your new house, because they don’t know where they live, and the chances you will get them back if they bolt are low.

If you normally let your cat go outside, don’t do so until you have lived in the new house for a minimum of a month or they will likely get irrevocably lost. Bear in mind that overall, cats who live indoors live to 17 or older; cats who are allowed outside have an average lifespan (https://pets.webmd.com/cats/features/should-you-have-an-indoor-cat-or-an-outdoor-cat#1) of two to five years. But no matter how you feel on that issue, your cats need to be inside for the first month or two after a move.

Moving to a New Country or Province

If you are moving out of the country, you will need to fulfill legal requirements before your pet is allowed in. These will likely include proof of vaccinations and possibly a quarantine. Check far in advance of your move about what is required to move your pet into the new country. In some cases, the quarantine can be so lengthy, that you might want to consider rehoming your pet with a trustworthy friend or relative. If you are moving to a new province or state, they may also have health requirements that are different than the one from which you are moving. Once again, check far in advance of the move.

Don’t forget to check about zoning laws. You don’t want to move to a new house with your six dogs and find out the city has a regulation that prohibits more than two dogs in a household. Some exotic pets and specific dog breeds such as pit bull breeds are banned all together in some locations.

Flying with Pets

Flying with pets is risky if you can’t carry them into the cabin with you. Pets die and are injured on flights every year. In 2016, 26 animals died while being transported on planes, and the rate of injury was even higher.

If you must fly with your pet, and the airline will not let the pet in the cabin with you, it’s best to get a direct flight. That way, there is no danger of them being exposed to heat and cold on the tarmac for hours or put on a wrong connecting flight. Avoid flying your pet during times of extreme hot or cold weather. Make sure they have adequate food, water and in the case of cats, cat litter. Buy the best carrier you can, and check repeatedly that it is properly closed.

If your pet is flying, your vet may want to give them a mild sedative to reduce the stress. Don’t overdose your pet.

Summary: Plan Ahead

The most important thing to do when moving with a pet is to plan ahead and give it some thought. Talk to their vet, and if moving out of province, look into legal requirements in your new location. Try to view the move through the eyes of your pet and make it as stress-free as possible.

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It is, in fact, an environmental science based on an interpretation of the natural world. Whether or not you believe Feng Shui brings you success as do many Chinese, it is a practice that helps everyone create environments in which we feel comfortable and supported. And when potential buyers enter a home that is clutter-free and comfortable, they are much more likely to buy even if they have never heard of Feng Shui.

Though Feng Shui will help in selling a house to anyone, house sellers in the Vancouver market should not discount the increasing volume of moneyed Chinese buyers in the area. Vancouver has seen several waves of Chinese immigration. 27.7% of the population of Vancouver is ethnically Chinese.

Many who have arrived since 2000 in particular have money to buy expensive residences, having benefited from one of the world’s biggest economic booms, a boom that produced 3.6 million millionaires by 2014 and 2.4 million in 2013.

Approximately 8,500 immigrant investors came from mainland China to B.C. between 2000 and 2015, and they arrived with 23,000 family members. But that’s not all. In those same years, 23,000 skilled workers arrived in B.C. as well as and 33,000 family members.) As reported in the Huffington Post, “National Bank financial analyst Peter Routledge has calculated that Chinese homebuyers may have bought as much as 33% of the total housing volume in Vancouver.” The point is that though using the principles of Feng Shui will help you to stage your house to increase the likelihood of sales to anyone, many Chinese buyers will not even consider a house with bad Feng Shui.

Feng Shui is complex, and to correctly align your house to its principles, you may want to consult an expert. However, let’s talk about some essential concepts.

Feng Shui Basics for Selling Your House

Energy (Chi)

Chi is the life force of all animate things and the power of the heavens. Chi must flow smoothly through your house to achieve physical and mental health and to encourage prosperity, good relationships and success. Where chi flows gently through a house, the occupants will be positive and have an easy journey through life. Chi cannot flow smoothly through a house that is cluttered or where furniture is not arranged for easy passage.

Balance (Yin and Yang)

Yin is feminine, and yang is masculine. Both must be balanced for a home to be comfortable. For example, short, dark, ornate, curved and light are yin. Tall, bright, plain, straight and heavy are yang. As an example, if you have very dark floors, you may want to balance that with light-colored walls.

Elements, Colors and Directions

Feng Shui has five elements, and it is important how they relate to each other. They are associated both with colors and with compass directions. These elements should be balanced in your home to help it sell. Scientifically, colors are vibrations. Color is used in Feng Shui to create a balance of the elements and correct negative influences. Yin is black and absorbs colors, while yang is white and reflects them. Make your own color choices, but use Feng Shui to harmonize them. Using all elements promotes a feeling of comfort for everyone.

The elements and their associated colors are

• Wood supports new beginnings. Wood colors include green and brown.
• Water is both vibrant and relaxing. Water colors include dark blue and black.
• Metal is refined. It’s associated with the color white.
• Fire is exciting. Its colors are red and warm colors.
• Earth is natural and nurturing. Its colors include terracotta, yellow, brown and beige.

In some rooms, like a family room where we want people of all types to be comfortable, we want all five elements to be present. Here is an example:

• Water: Dark blue carpet
• Wood: Plants
• Fire: Red pillows
• Earth: Terra cotta pots
• Metal: White wall or metal sculpture

Consider all four sides when planning Feng Shui

The directions of how your home is laid out is also important and each direction is associated with an element.
The North is associated with career. Its element is water. To boost career, you may want to place a dark blue rug in the north corner and install an aquarium.

The East is associated with the sun, family and health. Its element is wood. You might want to put a bonsai tree or a wooden plaque on this side of the house.

The South is associated with fame and reputation, and its element is fire. You can also consider this the front of your home no matter its actual direction. You may want to put a red flowering plant or red upholstery accents in this part of the house.

The West is associated with creativity and children. Its element is metal. You may want to paint the walls white or place metal objects in the room.

The Northeast is associated with education and decision making. Its element is earth.

The Northwest is associated with travel and helpful people. Its element is metal.

The Southeast is associated with wealth, and its elements are wood and water.

The Southwest is associated with relationships and motherly, nurturing energy. Its element is also earth. If you want to enhance relationships, place something made of earth such as crystals in the southwest.

Important Feng Shui Tips for Selling Your House Quickly

Declutter

Get rid of the clutter both inside and out so the chi can flow freely. Clutter represents stagnant energy. Also, if you have too many personal items in your home, it may be hard for buyers to envision their own family living there.

Soften Sharp Edges

Sharp edges create “poison arrows” that point at people and can create loss of jobs, money and health. Kitchens, for example are often full of poison arrows such as the edges of appliances, shelves and counters. Open cupboard doors sometimes seem to be just waiting for us to bang our heads or shins. Knives cause poison arrows and should be kept in a drawer. You can soften sharp edges with barriers such as screens, plants and curtains.

Minimize Oppressive Beams

If you have low-hanging beams in your home, you may want to minimize their visibility by painting them the same color as the ceiling. There is an innate negative reaction to having a low beam over your head even if you can pass underneath it without hitting your head.

Maintain Your Front Door

The front door is very important, because it is the entrance to the house and sets people’s expectations for what they will find inside. Both outside and inside your front door should be completely clutter-free. The size of the door should be in proportion to the house. Doors which squeak, stick or have broken latches should be repaired.

You should paint your front door before showing your house, and you may even want to give serious consideration to replacing it. It’s that important. The color of the door should be in harmony with its direction. For example, if your door is facing east, which is associated with the wood element, you might consider a green or brown front door.

Inside Entry Should Welcome Guests into the Home

The door should open onto an uncluttered inside space which is proportionate to the size of the house. You do not want to place a mirror on the wall opposite the front door, because it pushes the good fortune out of your home. On a practical level, seeing movement in the mirror as we enter can be unnerving.

If you have a stairway that faces the front door, that creates an unsettling energy battle. You can diffuse this problem by hanging a round crystal ball in front of the staircase from the ceiling or a red ribbon midpoint between the front door and the base of the stairs. You could also install a small mirror to the back of the front door to send the chi back up the stairs. Another fix is hanging small wind chimes from a red ribbon midpoint between the stairs and the door.

Windows Should Be Neither Too Many nor Too Few

Too few windows restrict the flow of chi and are yin. Too many windows can create excessive yang and seem overpowering to our senses. Too many windows in the dining room are especially inauspicious since the aim is to gather chi around the dining table and create a cozy environment. This can be counterbalanced by simply drawing a few drapes.

Lighting Sets the Mood

Pay attention to where and in what position you place lighting. If you have flickering bulbs, fix them. If you have shadows where it’s important to see clearly, such as where you read or prepare food, adjust your lighting. Also look at lighting in work spaces so it is not creating glare on computer screens.

The post Feng Sui your home for a quick sale appeared first on KBL Law Corporation.

On November 14, The City Council passed new regulations that prohibit individuals from renting out short-term properties on Airbnb and similar sites unless the spaces rented are in their principal residences. That means rooms over a separated garage, mother-in-law houses and even many basement suites are now off limits for short term rentals. Businesses will be completely prohibited from offering short-term rentals such as Airbnb.

The City Council claims it is doing this in an attempt to alleviate Vancouver’s severe housing shortage. The city’s vacancy rate is 0.8 percent, and rental costs are among the highest in the country. Half of the city’s population rents their housing, and no wonder. An average home costs over a million dollars. The result is that many people just cannot afford to live in Vancouver, and businesses often have a hard time finding employees. The City Council is hoping the move to restrict Airbnb will influence people to turn their short-term units into long-term rentals that will help alleviate Vancouver’s housing crisis.

The interesting thing is that the analysis presented to the City Council by city regulations officials shows no good evidence that the new restrictions will have any impact on the long-term rental market.

Airbnb has responded that the targeted units were usually used by family such as visiting relatives and would never be rented out long-term no matter what regulations the City Council passes. In that light, it does seem quite a stretch to argue that everyone who might occasionally rent their coach house for a few days on Airbnb would want to rent it long-term. There is quite a difference in the obligations, and many just would not want renters constantly underfoot. Instead, it’s possible some people may lose their homes, because they simply can’t afford them without the Airbnb income.

The Vancouver City Council has passed additional restrictions. Those renting on Airbnb or similar sites must now pay a $54 one-time application fee and $49 a year for a license. They must display the license number on their listing, and failure to do so will result in a $1,000 fine. Whether or not Vancouver wants to invest in the labor hours of constantly combing through Airbnb to try to catch people without a license remains to be seen.

This is far from the first time that a major city has regulated Airbnb and its cousins. Seattle just passed a tax on short-term rentals of $8 to $14 per night. Toronto is currently wrestling with short-term rental rules and is expected to come to a decision this month. New York bans short-term rentals altogether unless a host is present, and San Francisco requires licenses and registration.

The post Vancouver City Council Reins In Airbnb appeared first on KBL Law Corporation.

Bad Drainage

Bad drainage near the house can cause structural damage, dry rot and mold. This is of particular concern in the Vancouver area, where we have rainfall 161 days out of the year. The land needs to slope away from the house so water drains. A drainage problem can be difficult to see when the weather is dry; look for moisture stains on the walls. If the weather is rainy, look for water pooling near the foundation.

Damaged Foundation

One of the biggest nightmares you might face is to buy a house with a weak or damaged foundation. A weak foundation can be extremely expensive to repair and could even cause support beams to break.

Look for any of the following danger signs:

• Any inclines in the floor. If you feel like you are walking upward or downward, even a little bit, this is a big problem.
• Cracks in the walls
• Uneven paint around the doors. If you see this, look closer for cracks in the wall you may not have immediately noticed.
• Cabinets, windows or doors that don’t close or latch properly or are stuck.
• Chipping and flaking in the foundation itself.
• Cracked tiles or concrete.

Radon

Radon is a radioactive gas that occurs naturally when uranium in the soil decays. It’s so dangerous that it’s the leading cause of lung cancer among non-smokers. Sixteen percent of lung cancer deaths in Canada are due to radon.

Professionals can reduce radon levels fairly easily by sealing leaks and installing ventilation systems. However, you won’t know whether or not a house has dangerous radon levels unless there has been a test; radon levels vary quite a lot depending on the time of day and the season. That’s why Health Canada recommends testing over a span of three months or more during the winter or the fall. Some 6.9% of Canadians live in houses that exceed the Health Canada guidelines. Don’t be one of them.

Hazardous Materials

If you are looking at somewhat older homes, you are very likely to come across homes that were built with asbestos or lead.

Lead was commonly used in paint before 1978, and it is also often found in the plumbing of older houses. Lead can affect many organs of the body and is particularly toxic to children. If you are in love with an older house but concerned about lead, you can hire a lead removal service. You may also want to consider replacing old kitchen plumbing or at least installing a water filtration system.

Asbestos was commonly used in insulation before the mid-1970’s. Though it is not used today, many older homes contain asbestos, which can cause lung cancer and other diseases. The greatest risk is when you are doing renovations that expose the asbestos. Removing asbestos can be costly. If it is contained, experts advise to just leave it. You can hire professionals to check your home for asbestos and to remove it if necessary.

Neighborhood Nuisances

It can be difficult to detect a neighborhood nuisance. The next door neighbor may only blare his stereo at 2 am. The seller of the home may have asked another neighbor to keep a usually-barking dog inside while she shows the house.

To try to discover these kinds of nuisances:

• Ask pointed questions about the peace and quiet of the neighborhood.
• Walk around the neighborhood on different days and at various times of the day and evening.
• Chat with the neighbors you meet who are taking a walk or sitting at the corner coffee shop.

Termites

Termites can ravage the wood in a home if they aren’t stopped. And yes, southern British Columbia including Vancouver has termites. They are usually more of a problem in older houses, particularly where the foundation or drywall is damaged. Bad drainage near the house encourages termites. If you find a house you like with termites and don’t want to walk away, negotiate with the seller to pay for their eradication.

Look for the following signs:

• Sagging floors
• Tiny holes in the drywall
• Peeling paint
• Wood supports or floorboards that sound hollow

Mold and Mildew

Mold and mildew are caused by excessive moisture and can develop anywhere. Because older houses are not as tight as new ones, seeping moisture makes them more likely candidates for mold. Cracked foundations, old, drafty windows and bad plumbing can be the starting point, but mold can even grow inside walls. You may not even see it as you tour the house. Mold can cause serious respiratory problems and must be taken seriously. It also attacks the structure of a home and can even make it uninhabitable.

Old, Leaky Roof

Replacing a roof is expensive, about $6,600 on average. You therefore need to know what kind of shape the roof is in before bidding on the house. An average roof last between 20 to 25 years depending on the material. It can be difficult to tell what kind of shape a roof is in just from looking at it from the ground; a closer inspection is required. Find out what the roof is made of and when (if ever) it was last replaced. If there is a problem with the roof, don’t assume the entire roof must be replaced; sometimes just a repair or two is needed.

Faulty Electrical Wiring

Electrical wiring doesn’t last forever. Pre-1960 wiring lasts about 70 years and newer wiring for about 100 years. When insulation deteriorates, the exposed wire can result in short circuits, shocks and even electrical fires. Old circuit breakers and service panels can cause similar hazards. Of course, electrical components may not make it to the end of their natural lives if damaged by water, pests or other causes.

Bad Plumbing

Old or faulty plumbing can ruin your belongings and cause expensive water damage to your house. It can also plague you with less dramatic, but still annoying, small leaks, low water pressure and corrosion. Pipes have a limited life span that varies according to material, so find out everything you can about a house’s plumbing.

If the pipes are made of polybutylene (common from the 1970’s to the 1990’s), you should probably ask that the pipes be replaced before you buy, because this material is vulnerable to household chemicals. It’s almost certain that polybutylene pipes will cause expensive problems.

Buyer Beware

Buying a house can be a mine field, but you may have legal recourse if the condition of a house is misrepresented. To find out what a real estate agent and seller need to reveal to you, just call us, and we will be happy to explain your legal rights as a house buyer.

The post Watch out for these 10 hidden problems when house hunting appeared first on KBL Law Corporation.

Studies show that children of home owners:

• Have better educational outcomes
• Achieve math scores up to 9% higher than children of non-owners
• Achieve reading scores up to 7% higher
• Stay in school at a higher rate
• Are significantly more likely to achieve a higher level of education
• Have better social outcomes
• Have reductions in behavior problems of up to 3%
• Have a better home environment 13% to 23% of the time
• Have a lower rate of teenage pregnancy
• Are likely to be more successful in life
• Are significantly more likely to make more money over the course of their lives
• Are much more likely to own a home themselves

Why the Children of Homeowners Do Better in Life

Of course, there are many important factors that contribute to children’s success. However, taking these factors into account, the studies show that home ownership itself is a major force in helping children succeed.

According to a Harvard study, children of homeowners have better home environments, higher cognitive test scores, and fewer behavior problems than do children of renters even after controlling for a large number of economic, social and demographic variables.

Additional studies indicate that there are a variety of reasons why home ownership positively impacts the outcomes of children. This topic is more complex than can be covered here, but here are some of those reasons.

• Stability: Homeowners move far less frequently than renters.
• Residential stability strengthens social ties with neighbors.
• Changing schools can negatively affect children’s educational outcomes.
• Nurturing neighborhoods and schools: Home owners are more likely to live in neighborhoods that have a wider array of school and neighborhood activities. Children of home owners are more likely to participate in organized activities and spend less time watching TV and playing videogames than children of renters.
• Learning from parents: Owning a home requires work both in home maintenance and balancing finances in order to make mortgage payments, skills that children may learn from their parents.
• Better financial situation: Home owners tend to have higher adjusted net worth and liquid assets than renters. Homeowners often have greater access to credit, and they also often gain financial benefits from the appreciation of their homes. When parents face less economic pressure, they are able to focus more on their children.

When You’re Ready to Buy, Call KBL Law Corporation

Once you’ve found the house that’s right for your family, we can advise you about the fairness of the contract and guard you against any problems that could tarnish your dream. When you need a Vancouver real estate attorney, call us to ensure your peace of mind.

The post How Owning a Home Helps Your Children Succeed appeared first on KBL Law Corporation.

If you’re selling a home in Vancouver that’s all well and good, but what people selling their house in BC need to keep an eye out for is buyers who tie up a property and then decide to cancel the real estate purchase contract.

Sometimes your buyer may be legitimately interested in your property, but for one reason or another isn’t able to complete the transaction.

When a buyer cancels the contract to buy your home, you get hurt because your house has been tied up and essentially off of the market. Prospects who were seriously interested in buying your home have looked elsewhere, figuring that yours was already a done deal and just waiting to close escrow.

Think that just because they’ve signed a contract it can’t be canceled? Think again. Here are three ways a home buyer in Vancouver can use perfectly legitimate contingency clauses or claims to get out of a purchase contract and what the seller can do to mitigate the risk of the real estate contract being canceled by the buyer:

When a buyer cancels the contract to buy your home, you get hurt because your house has been tied up and essentially off of the market.

Disclosure Issues

This is the area of the contract that you as the seller have the most control over, so use it to your advantage by not giving your buyer an excuse to cancel the purchase contract if they discover an unexpected problem with your home.

Let’s face it, all homes have their quirks, especially some of the older ones around Vancouver. You’ve actually lived in the house and know more about it than anyone else, so don’t be afraid to tell your buyer what you know about things that don’t work quite right, or even items that you suspect may need to be repaired.

Almost all buyers will conduct property inspections as part of their due diligence and they will quickly discover any items that need to be repaired anyway. If they find something that they think you should have been aware of, such as an obvious roof leak or a problem with the furnace, they may think you’re not being honest with them and wonder what else there is that you’re not telling them about. This can lead to a situation where they change their mind on the grounds that you didn’t disclose accurate information.

Your real estate lawyer, such as KBL Law, can give you legal advice to help you minimize this kind of risk, as well as help ensure that your contract closes this loophole. Keep in mind that in BC a Notary Public is not permitted to give you legal advice.

Home Inspections

Before putting your home in Vancouver up for sale, have it professionally inspected.

This is the best way to avoid having the buyer discover things about your home when they do their own inspection, things that they may think you should have known but didn’t tell them about.

By being proactive you’ll be able to correct any items ahead of time, or if it’s something that you don’t have the funds to fix, to let potential buyers know of right up front so that they’re aware of what they are getting into.

Loan Application, Qualification & Approval

A financing contingency in the real estate purchase contract simply means that if your buyer can’t get a loan, the deal is off. This is the one clause that you as the seller have the least control over, and also the one that can catch you completely off guard if you’re not careful.

So how do you protect yourself from the unpleasant surprise of being told at the last minute that your buyer isn’t able to qualify for their loan to buy your house?

Rather than depending on the buyer to keep you updated on their financing, you could go straight to their lender for status reports. The obstacle you’ll run into is that the lender probably won’t speak with you because you’re not a party to the loan.

To overcome this objection right from the start, have your Vancouver real estate attorney draft language into your contract stating that the buyer authorizes the lender to discuss the status of the loan with the buyer. KBL’s Karen Bresler has been handling real estate transactions since the days Vancouver real estate was actually affordable, and can help you write the appropriate language into your contract.

The post Three ways a buyer can cancel your real estate contract appeared first on KBL Law Corporation.

The life of a real estate investor isn’t as easy as it might seem, but if done properly you will be one step closer to your early retirement dream.

Here are three tips for successfully launching your future as a real estate investor in Vancouver:

1. Keep it simple

First, only invest in rental property that is easy and inexpensive to maintain

Many beginning real estate investors in Vancouver make the mistake of thinking that the more lavish amenities their rental property has – things like lush landscaping, state-of-the-art kitchen appliances, and high-end flooring – the more they can charge for rent and the more profit they’ll make.

But they forget that the profit for a typical real estate investor is made up of two things:

1. Income from the rents that come in and…
2. Monthly expenses such as the mortgage, taxes, insurance, repairs and maintenance, and collections and attorney fees if a tenant goes bad on them.

While it’s true that a lavish property will demand a higher rental price than would a basic, plain vanilla property, with a high-amenity property there will also be more money in expenses going out by way of higher maintenance and repair expenses. That’s because tenants in Vancouver don’t take care of their place the same way that an owner who lives in the house would.

Fixing those high-end appliances, maintaining the landscaping, and patching and painting each time a tenant moves out doesn’t come cheap, and if you’re not careful the profit you thought you were going to make turns into a loss.

Investing in a rental property with basic appliances, landscaping and fixtures may not be as exciting as owning a lavish property, but the reason you’re investing in income property is to make a profit. A basic house or condominium means that both the expenses and the net income of the rental unit will be much more routine, and lead to a more stable predictable profit.

2. Be prepared for what it takes

Next, ask yourself if you really want to be a landlord. This is part of the life of a real estate investor. There’s an unwritten rule in property management that if a problem is going to occur, it will happen at the worst possible time, and not during normal business hours during the weekday.

So as a landlord you’ll need to be prepared for the occasional late night call from the tenant with a clogged toilet or a furnace that won’t start in the dead of winter. If you fix things yourself you’ll need to be a jack-of-all-trades, or if you call a professional be prepared to pay a surcharge for after hours or weekend work.

After buying their first rental home or two, most investors enlist the service of a Vancouver property management company to screen tenants, prepare the leases, handle rent collection and deal with any maintenance issues that arise. Property management agreements can sometimes be one-sided and not in favor of the landlord. Notary publics in Vancouver can review the property management agreement, but by law they’re not allowed to give legal advice or recommend any changes to the contract.

Experienced real estate investors enlist the services of a good Vancouver real estate attorney to ensure that the management agreement is fair and balanced and that their money and investment is protected.

Know the law

Last but definitely not least, you need to understand the landlord-tenant laws in Canada. As a real estate investor, don’t make the common beginner mistake of using a boiler-plate rental agreement for tenants and assume that’s all you need to know about Canada’s landlord-tenant laws.

That’s a big mistake, and many times landlords unintentionally violate the law and end up receiving a notice of violation or having to spend a lot of money defending themselves against a accusation of discrimination.

Smart landlords understand that there’s a lot more to dealing with rental property than meets the eye, and enlist a real estate attorney in Vancouver who understands the landlord-tenant laws and who can help them adhere to both the spirit and the letter of the law while at the same time protecting and maximizing the return on their investment.

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Over 90% of home buyers use the Internet during some point in the buying process, and then many of them, 77% in the case of first time home buyers, drive by the houses they like. But they just keep on driving right by the houses without curb appeal.

Houses are like job applicants; there is only one chance to make a good first impression. Have you noticed how rarely people change their minds? Our brains are wired to form an opinion about something then move on, unless there is a very good reason to change that opinion. If a buyer’s first impression of your house is bad, you will have a hard time changing their mind. But if a buyer’s first impression is of a clean, well-kept exterior, inviting landscaping and a welcoming vibe, they are much more predisposed to forgive imperfections as they tour your home.

There is no getting around it; if you want to sell your house, you need to pay attention to its curb appeal.

Improving Resale Value Through Curb Appeal

Let’s look at some of the best ways to spend your money in order to catch a buyer’s eye.

1. Exterior Clutter Can Kill a House Sale

People want to move into a clean, comfortable space. As they look at your home, they are envisioning where they would put their own belongings. Make it easy for them to imagine themselves in your home by keeping it free of clutter.

• Put away your tools, your bicycles and your kiddy pool.
• Hide the trash cans behind plants or screens.
• Rake the leaves.
• Get rid of all those assorted lawn chairs on your front porch and replace them with an attractive, carefully chosen piece or two.

2. Landscaping Is Essential to Curb Appeal

Experts agree that one of the most important places to put your money when preparing your house for sale is landscaping. Landscaping is so important to getting a good price for your home that experts say you should invest 10% to 15% of the value of your home in it. A 150% return on a landscaping investment is not at all unusual, and you may enjoy an ROI far higher, potentially 215%. Compare that to a kitchen renovation with an ROI of 68%to 81% or a roof replacement with a typical ROI of 75%.

• It goes without saying that your yard must be mowed and all greenery must be kept clean and neat.
• Do some research on your home’s architectural style and create compatible landscaping.
• Design counts and so does the size of your plants. Think about how to group your plants for greatest impact.
• Consider low cost path lighting. Solar lighting, which does not require electricity, is easy and inexpensive.
• Edge paths and garden areas with stone, wood or brick to give them a well-kept look.
• Consider planting annual plants that flower for long periods to add attractive splashes of color.

3. Your Entry Way Welcomes People into Your Home

The entrance to your home should welcome buyers and make them want to see more. Give them a pleasant experience as they wait for the real estate agent to unlock the door and usher them into your house. Ask yourself how you can improve that front entrance toward the goal of improving resale value.

• Consider replacing your front door. People really do notice the door, so a high quality door, perhaps with some custom touches, can give you a return on investment of 102%. If you think replacing the door is overkill, be sure it is sparkling clean and sporting new paint. Consider a contrasting color that works well with your color scheme.
• If they fit into the space, you may want to place an attractive potted plant on each side of the door.
• Repair screens and make sure the front porch is tidy.

4. Pressure Washing Will Give Your House a Face Lift

Pressure washing is a very inexpensive way to give your home a fresh look and will only cost you about $236, less if you rent a machine and do it yourself. If your paint is in good shape, pressure washing can make your house shine. You are accustomed to looking at your house’s exterior, walkways and driveway every day, and you may not realize how dirty they really are.

5. New Paint Will Make Your Home Appear Well-Maintained

Fresh paint goes a long way to adding curb appeal. If your paint is faded or peeling, many buyers will not even bother to get out of the car. If you feel your paint is in pretty good shape, at least paint the trim and shutters. Though we mentioned that you may want to paint your door in a tasteful, contrasting color that makes it pop a little, you should paint your house and trim in neutral shades.

6. Updated Windows Appeal to the Energy Conscious Buyer

Consider whether or not your windows are outdated. Replacing your single-pane windows with new, energy efficient models can give your home a modern feel. A savvy buyer knows they can avoid drafts and reduce their utility bill by hundreds of dollars each year with energy-saving windows. We may have a temperate climate here in Vancouver, but nobody can deny that we have our share of cold, winter days when we just want to curl up comfortably inside our homes.

Of course, whether you buy new windows or not, they must absolutely sparkle when you show your house. A simple thing like giving them an intense cleaning both inside and out goes a long way to improving resale value.

6. Buyers Will Closely Examine the Roof

Potential buyers will examine your house with an eye to how much work and money they will need to put into it. Expect both buyers and appraisers to give close attention to the condition of your roof. Because of the expense, you probably want to avoid replacing the roof unless there is no way around it. But cleaning away weeds and mold, replacing missing shingles and cleaning gutters may be all your roof needs. Or perhaps a partial repair rather than a complete replacement will do. If you are in doubt, you may want to ask yourself a few key questions.

7. Little Touches Mean a Lot

Don’t underestimate the power of little touches in speeding up the sale of your house and influencing bid amounts. You may want to:

• Upgrade your mailbox. If you have a mailbox by the street, it’s one of the first things people see. For $100 to $250, you can add some extra appeal.
• Upgrade your house numbers. People will be looking for them when trying to find your house and looking right at them when they enter.

Walk Around Your House and Try to See It as a Buyer

One of the best ways to improve resale value by increasing your house’s curb appeal is to walk around it and try to see it as a buyer. You may have become blind to the cracks in the walk and the trash cans that are visible from the street. Buyers here in Vancouver expect quality, and they won’t be so forgiving.

The post Seven Tips to Improving Resale Value appeared first on KBL Law Corporation.