The Pros and Cons of Renewing Your Tenant's Lease

As a landlord, offering a lease renewal can be extremely beneficial, especially if you have fantastic tenants. However, there are a few things that should be noted before you offer your tenants a renewal. Take a look at the pros and cons of reviewing your tenants lease to help you make a measured decision about what is the right thing for you. 

Pros

• You will save time and money - the cost of finding a new tenant can be huge. You will have to advertise the apartment, arrange viewings, fix any wear and tear from the previous tenant and potentially incur losses if the property is empty between tenants. Having a tenant simply renew their lease will be much more convenient for you, both in terms of your time and money. 

• If you have good tenants, you should keep them - if you have tenants who look after the property, pay their rent on time and are good at communicating, then you should do everything you can to keep them. Some landlords even choose to offer a month's free rent around renewal as a thank you for being good tenants, so this could be the incentive your tenants need to renew. If for whatever reason you decide not to renew your tenants lease, you risk having a bad tenant move in. You might have issues with missed payments and damage to the property which will cost you a lot of money in the long run. If you do opt for a new tenant, make sure you get references, avoid cash buyers, take deposits and have a written agreement in place. 

• You reduce the chance of having your property vacant - if your property is vacant between tenants, not only are you missing out on rental yield but you will still need to pay the mortgage if you have one and also utility bills. If you rely on this income in order to pay the mortgage or other bills, and you are happy with your tenants, you should do everything you can to encourage them to stay. Plus, having people living in the property and keeping it clean and warm will help to maintain it. 

Cons

• You won’t have a chance to improve the property to increase the potential rental yield - if you want to increase your monthly yield, one of the only ways is to renovate the property. Upgrading elements in the property can impress potential tenants and will increase the amount of money they’re willing to pay each month. If you renew a tenant's lease, it is far more difficult to make these upgrades. This is something to think about when completing your lease review. 

• Limited scope to increase rent - there has been an increase in the amount of rent-controlled areas in the last few years. Local governments have enforced restrictions on how much a landlord can increase the rent on a property by, meaning you won’t be able to make much more money by keeping the same tenants. This depends heavily on the initial type of agreement and also the new tenancy agreement. Yet, it seems that keeping the same tenants in your property makes it more difficult to increase the monthly cost. 

• You miss the opportunity to find a better tenant - if you find that your tenant isn’t particularly clean or has missed a few payments, but you are worried about the property being vacant so renew the lease anyway, you miss the potential to find a better tenant. This is a risky one as it could go either way, yet the cost of taking longer to find a good tenant can often be less than quickly finding a bad one. 

New Plumbing Features You Can Add to Your Kitchen to Increase Value

As you know if you’re at all familiar with real estate, the kitchen is one of the most important rooms when it comes to determining the value of a home. Today’s buyers are looking for convenience, aesthetic appeal, and modern features. While countertops and cabinets get a lot of attention, plumbing fixtures are just as important aspect of a contemporary kitchen. From washing dishes to cooking a meal, all the typical tasks in a kitchen require water and proper drainage. That’s why, if you’re looking to create a more valuable kitchen, these plumbing features are a great place to start.

A Drain in the Floor

Kitchens are subject to plenty of spills, and sometimes it can be a real pain to clean up a mess. When your kitchen has a drain in the floor, you’ll no longer have to get down on your knees to wipe up a spilled liquid. All you’ll have to do is splash some water on the floor and then use a mop to push it down the drain.

A Stop Tab Beneath the Kitchen Sink

You never know when something could go wrong with your dishwasher or pipes. When a sudden problem arises, it’s nice to have the option of shutting down the water to your kitchen. A stop tab might not be a flashy improvement project, but it will undoubtedly increase the value of your home.

A Retractable Hose Within the Sink

Cleaning pots and pans becomes a lot easier when you’ve got a retractable hose with a high powered sprayer. This is a basic amenity that many buyers will expect your kitchen to have. Once you’ve gotten accustomed to using one, no kitchen sink will seem complete without it.

A Food Waste Disposal System

Whenever you’re cleaning up after a meal, a decent amount of food waste winds up in the drain. In a typical kitchen, this waste must be scooped up and thrown in the trash, lest it block the plumbing system’s narrow pipes. A disposal system is an awesome feature that seriously changes the equation. It’s a major project that often requires the installation of wider drainage pipes, but it makes cleaning dishes a whole lot easier.

These projects will make your kitchen more functional and increase the value of your home. Call in a local professional in residential plumbing, and you’ll have a revamped kitchen in no time.

How to Monitor Indoor Air Quality for Healthy Spaces

What is indoor air quality (IAQ) monitoring?

Indoor air quality monitoring is the real-time collection of data on the various indoor pollutants present in your space. These pollutants range from tiny particles and invisible gasses to harmful chemicals and compounds. Some of which include particulate matter, carbon dioxide, volatile organic compounds, and more. Exposure to high concentrations of indoor pollution can cause a variety of adverse health effects including fatigue, irritation, and even increased risk of heart and lung disease. In this blog, we’ll cover how to pick the right monitoring solution for your needs and use the data to improve your building’s health. 

How to pick the right IAQ monitor for your space.

Indoor air quality monitors, often referred to as IAQ sensors, come in a variety of designs and use cases. At qlair, we recommend using a multi-pollutant IAQ sensor that tracks particulate matter, volatile organic compounds, carbon dioxide, temperature and humidity. These pollutants pose a significant risk to occupant wellbeing and building efficiency. 

IAQ monitor design types:

• Touchscreen data display: If you want to see the status of your air quality from the device itself, choosing a monitor with a touchscreen display can be a great option. These monitors present data on the pollutant levels in your space so you can check the status at any time. 

• Discrete monitors: Most hardware options do not showcase their data directly on the device and require a software solution to view data. This can be a good option if you want to ensure building operators know air quality levels, but not necessarily occupants and staff. 

IAQ data collection types:

• Multi-pollutant sensing: This sensor type monitors more than one air quality parameter. Unlike a carbon dioxide monitor that strictly monitors one gas’ concentration, multi-pollutant sensors gather a variety of indoor air quality data pertaining to several indoor pollutants. This is a good option if you are looking to get an expansive read on the status of your indoor air quality. 

• Single-pollutant sensors: These include hardware such as radon detectors and carbon dioxide monitors, and only gather data on one specific indoor air quality parameter. If budget is limited, or you would like to focus your attention solely on one IAQ parameter, this will be the way to go. 

Choosing the right location for your indoor air quality monitors.

Before aimlessly deploying your monitors throughout your indoor space, it is important to have a clear plan of attack. Some spaces are of high priority – like conference rooms, athletic facilities, and other areas with high occupancy. It is recommended to start here. 

By tracking the areas that have had issues in the past, you can confirm the source of the issue and take steps to resolve them. Expanding your monitoring area will result in a larger data set to analyze and can be helpful in tracing trends associated with air quality and building activities. This should be the goal.

However, large indoor air quality projects can be daunting, so starting off small is a great first step. Uncover the most important spaces to you and your occupants and begin gathering data.

Tracking progress and monitoring the effects of changes.

Many indoor air quality monitors come with a software solution to help you visualize your building’s data and act on them. If you use a solution like qlair, data can be viewed at any time from the web or on your smartphone with a dashboard and app. 

These applications and systems are imperative, as they provide valuable insights into what adjustments must be made to improve air quality. Once any new solution or strategy has been implemented, you can ensure they are effective by tracking progress via the web or mobile. 

Guest Post - Simple Backyard Improvement Ideas

A backyard is a perfect place to unwind, hang out, and host get-togethers and parties. Whether big or small, a backyard offers unlimited potential and can be converted into a beautiful and inviting space to enjoy some much-needed fresh air. 

A few backyard improvements have helped people fetch good returns during resale. However, many homeowners believe that backyard makeovers cost a fortune, and therefore, often remain unwilling to invest time and money to enhance the look of their outdoor area. But that is untrue. There are some excellent ways to elevate the backyard’s appearance without breaking the bank. 

If you are tired of looking at your old and unappealing backyard and are clueless about how to spruce it up, here are some excellent backyard improvement ideas to get going and make the space more functional and enjoyable:

Get rid of the Clutter

The first step towards improving any space, including the backyard, is decluttering. It will give a fair idea of the available space, the backyard accessories you already have, and the new ones to add to make it more appealing. Trim trees and hedges, sell or dispose of the old and broken furniture, broken plant pots, and other extra things that are lying unused or no longer belong to the yard. Install wall hooks, shelves, create a small shed to store all the garden tools and appliances. Decluttering the backyard generates a lot of unwanted waste. Make provisions for efficient garbage/rubbish removal after completing the process.

Create a Beautiful Backyard Garden

A well-maintained garden is every onlooker’s delight. Update the landscape with different strategically placed plants and flowers to enhance the space and add greenery and beauty to the surroundings. A landscaping company can advise on the best landscaping features for the outdoors. They can suggest ways to perfectly mix the annual and perennial plants, which shrubs or flowers will best thrive in the soil, or the garden features that can help it stand out. Install an irrigation system to ensure that the lawn always looks lush green and pristine. Consider adding a hammock to enjoy the fresh air.

Outdoor Fire pit

A firepit is one of the most exciting features you can add to the backyard. It will make the outdoors functional even during the cooler nights. In no time, it will become the favorite spot for at-home date nights and get-together with friends. It is a simple DIY project that will take less space, is affordable, and increases the home’s value. Materials and kits are available at local home improvement stores. You can also consider a fireplace or a chimney to add some warmth to the yard.

Make the Patio or Deck more Inviting

Patios or decks are essential backyard elements perfect for entertaining guests, enjoy meals, and appreciate the landscape. If you already don’t have one, adding a patio or deck will turn the boring backyard into a fun space.

For the existing patio or deck, consider revamping it to make it more guest-ready. Upgrade to new and comfortable patio furniture, add a dash of color with complementary furnishings and planters, use string lights to keep it functional after sunset, set up an outdoor bar, or add a swing to sway back and forth to enjoy the outdoors.

Consider a Patio Enclosure

Patio screen enclosures can turn the porch or patio into another room to enjoy the outdoors. They add a visual charm to the property and increase its value. A patio enclosure protects from the weather elements to make the outdoors enjoyable year-round. They also keep the insects at bay, offer extra entertainment space, and reduce patio maintenance requirements.

Light up the Backyard

Mindfully lighting up the backyard helps create a unique outdoor ambiance. Consider mixing different lighting styles for a perfect look. Use floodlights, up lights, path lights, spotlights, string lights, lamps, lanterns, wall lights, pendant lights, and accent lights to illuminate walkways, pathways, porch, patio, garden, trees, water features, and shrubs for a stunning look and create a relaxing and intimate atmosphere. 

Create a small play area for kids

Why should adults only have all the fun in the backyard? A small play area inside the house is a safe and convenient option for the kids to enjoy. Even when you have guests coming over who have kids, having a well-designed outdoor play area will keep the kids engaged while you can enjoy your drinks and conversation. 

Water Features

Adding water features like fountains, ponds, and birdbaths are affordable ways to add luxury to the backyard. If space and budget permits, a swimming pool makes a perfect outdoor water feature to enjoy a splash during summers. The sight and sound of water are also known to create a calming effect. 

Install a Fence

A fence helps create privacy, enhance security, improves aesthetics, protect kids and pets, and keep unnecessary things out of view. Go for durable and easy to maintain materials for fence building.

Carefully planned backyard improvements will completely transform the outdoors. Give some of the ideas mentioned above a shot to make the backyard attractive and inviting. Prioritize the features based on their use and the value it will add to the property.

About the author:

Richa has over 10 years of content writing experience and she specialize in writing for painting and renovation companies. When not busy with work Richa enjoys playing guitar, and spending time with her family. To know more about Richa, check her out on Linkedin.