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We have said it before and we’ll say it again: the key to being a successful entrepreneur is to never stop learning. Whether you are looking to diversify your portfolio or improve your existing business ventures, real estate finance books are a great place to start. By reading and learning more about the real estate industry, you can help ensure you are prepared to make any business decision that comes your way. No matter what your niche is, there are books for every investor. Keep reading to find out some of the best real estate finance books of the year.

The Best Real Estate Finance Books

There are countless books on real estate finance out there to help you get started, but these are some of the best at explaining financing for entrepreneurs at all levels:

The E-Myth Real Estate Investor: This book provides an excellent road map into real estate. I would recommend this to investors who are just starting on the journey to becoming an entrepreneur. It will provide an excellent framework of business operations and real estate financing. The book contains some great advice, so even if you are a more seasoned investor you can find value in it.

Getting The Money: The Simple System For Getting Private Money For Your Real Estate Deals: Investing can be intimidating, especially for those who believe they don’t have the initial capital to get started. One of my favorite things about this book is that it doesn’t just tell you where to find financing options, it tells you how to find them as well. This book contains excellent information on different types of investments and private money.

Insider Secrets To Financing Your Real Estate Investments: Do you like straightforward directions and organization? If yes, this is one of the best real estate finance books you can get your hands on. Frank Gallinelli provides checklists, proposals, and more to help you lay out everything you need when it comes to real estate financing.

The Millionaire Real Estate Investor: I would describe this as a handbook for real estate investors seeking financial freedom. Gary Keller collected advice from countless investors and put together a book full of real estate financing information. It outlines proven models and strategies, and it contains great mindset advice as well. This book is also a great team read, so be sure to pass the link along to your colleagues.

[ Looking for ways to start increasing your monthly cash flow? Register to attend our FREE real estate class to learn how to utilize passive income strategies in your local market! ]

The Top Commercial Real Estate Finance Books

Whether you have been involved in commercial real estate or are looking to expand your investment opportunities, these commercial real estate finance books offer great information:

Negotiating Commercial Real Estate Leases: A lot of real estate investment finance books fall into the trap of using too much legal jargon or technical terms. That is where Zankel comes in. This book breaks down commercial real estate basics in a way that’s understandable. He provides great information on economics and the language of clauses without over complicating things.

How To Succeed In Commercial Real Estate: If I had to describe this book in one word I would say comprehensive. It has an ethics-first approach to commercial real estate investing, and describes sales strategies, negotiation tips and listing information. It is one of the best books on real estate development out there. The author also has a quick, straightforward voice that makes complex topics easier to understand.

Value Added, Successful Strategies For Listing & Selling Investment Real Estate: This book is great for investors who worry that they’re getting too comfortable with where they’re at. Brad Umansky writes about the steps and skills needed to run the best possible commercial real estate deals, and uses personal experience to do so.

Commercial Real Estate Uncovered: This book acts as a reference guide and informational handbook, all in one. I appreciate the streamlined terminology, definitions and metrics used in the text, which makes it great for investors who may not have a background in commercial real estate. I would recommend this read to entrepreneurs who are looking for a primer on the world of commercial real estate investing.

Multifamily Real Estate Finance Books

Multifamily real estate finance books are not hard to come by, there’s a lot of information out there to help you get started. However, these are some of the books I’ve found to be most helpful if you work with multifamily real estate:

Multi-Family Millions: How Anyone Can Reposition Apartments for Big Profits: If you’ve been investing in single-family homes and are ready to take on new endeavors, this book provides a great outline for transitioning into multifamily real estate investing. Its step-by-step format makes it easy to read in increments so you can come back to it as needed.

Investing In Duplexes, Triplexes, And Quads: The Fastest And Safest Way To Real Estate Wealth: This book is good for both beginner investors and those looking to enhance their business opportunities. Larry Loftis uses his real estate investing experience to break down the financial benefits of multifamily properties in a way that’s both accessible and informative. I would highly recommend this read to anyone unfamiliar with real estate concepts as well; it does a great job of introducing real estate finance and investments.

The Book On Rental Property Investing:How To Create Wealth And Passive Income Through Smart Buy And Hold Real Estate Investing: While this book may seem intimidating at almost 400 pages, the information is essential for real estate investors looking to get started in rental properties. It contains practical strategies for building cash flow through rental properties and which obstacles to watch out for along the way. I appreciate the realistic timelines and goal setting throughout, as well.

Buy It, Rent It, Profit: This book is a great all-in-one book to approaching multi-family real estate. It contains information on everything from financing a mortgage to negotiating lease agreements. It even has forms and checklists to help you get going. Reading this book is great for those who appreciate clear instructions and can also make a good team read.

Summary

This list of real estate finance books is by no means comprehensive. One of the best aspects of real estate investing is the wealth of knowledge you can access, whether it be through books, online courses, podcasts, and articles. This guide provided a shortlist of some of the best available books to help you get started.

Real estate finance books can help open your mind to aspects of business you may not have understood or recognized otherwise. They can even help bring you up to speed on concepts or terms you may be less familiar with.

If you’re looking to save money and want to get some investment tips, you might be wondering how to plan your finances the best way. Investing always comes with a risk; you might not know the best ways to prepare for the future or what you should invest in.

Listening to podcasts is one way to get financial tips. Podcasts are often free and you can learn valuable information without paying to meet with a financial planner. Listening to and subscribing to a few podcasts can ensure you get the information

If you’re looking to save money and want to get some investment tips, you might be wondering how to plan your finances the best way. Investing always comes with a risk; you might not know the best ways to prepare for the future or what you should invest in.

Listening to podcasts is one way to get financial tips. Podcasts are often free and you can learn valuable information without paying to meet with a financial planner. Listening to and subscribing to a few podcasts can ensure you get the information you need and will also help you grow a portfolio.

Here are the 10 best investing podcasts:

1. The FortuneBuilders Real Estate Investing Show

The FortuneBuilders Real Estate Investing Show is about real estate investing. You can learn how to make more money and even invest enough to make sure you leave money for your kids and grandkids. This podcast is also aimed at helping entrepreneurs.

They have a weekly live show where you can learn how to start and structure a real estate investment business.

[ Rental property investor, rehabber or wholesaler? Get to know which investing strategy is the best fit for YOU by attending our FREE online real estate class. ]

2. The WealthFit Podcast

Add the WealthFit Podcast to your list if you want to be able to improve yourself and your business. Dustin Matthews is the host and it’s informative while also being funny and to the point. They have podcasts every week and you can learn how to maximize your income to ensure you are investing in every way you can.

The podcast also interviews some of the world’s top money makers, investors, and celebrity entrepreneurs.

3. Mad Money with Jim Cramer

Mad Money with Jim Cramer has weekly episodes where you can listen to 45 minutes of advice every week. Jim Cramer is the host and maker of the series and he guides the listeners through the ins and outs of Wall Street. His main goal is to help all his listeners become investors who make money.

He offers his opinions and features the well-known lightning round where he gives buy, sells, and holds advice on callers who call in and seek opinions on what they should do with their investments.

4. The Investor’s Podcast Network

The Investor’s Podcast Network features a network of different investors and hosts who all have extensive financial backgrounds. They spend time every week analyzing different topics, including investing news, cryptocurrency, and real estate crowdfunding.

They also discuss the different billionaires around the world and they analyze their thought processes and how they have been able to build their fortunes. Interviews include talking to some of the most famous billionaires, including Oprah Winfrey and Mark Zuckerberg.

5. Invest Like The Best

Invest Like The Best is more of a conversational show that also serves to let you know the best investing advice. All the hosts on the shows have been investors and tutors in the past so they know the right way to make you a successful investor.

They cover more than just traditional investing, though. They also cover cryptocurrency investments and private equity. You can also find advice on high-yield credit investing. The diverse topics make this podcast a good choice for beginner and advanced investors.

6. Motley Fool Money

This show by Motley Fool Money is mainly about the stock market implications. They also talk about business and financial news from around the world so you can understand what is going on in different countries.

They also do regular interviews with industry experts and authors that write about stocks and financial planning. The host, Chris Hill, also discusses stocks that are becoming popular, and he advises on what he thinks you should invest in.

They release a show every Friday with bonus episodes on Tuesday. The episodes are about 40 minutes, giving you just enough time every week to learn about stocks and investments.

7. The Rich Dad Show

This Rich Dad show has a new episode that is released every Wednesday and is about an hour long. Robert Kiyosaki sits down with many different professionals, including those in business and investing. They provide advice for people to be able to set themselves up for financial success. They discuss many different topics, including clean energy, gold, and cryptocurrency.

8. Money for the Rest of Us

Money for the Rest of Us is designed to help you make your own investment strategies and portfolio without needing help or assistance from a financial planner. Some people like to use the DIY approach when it comes to investing and this podcast is best for those that want to forge their own way.

It’s hosted by David Stein, a financial expert. He wants to help everyone invest money in the areas they are interested in while also helping them save for important life goals like retirement.

The podcast also covers important investing issues like asset allocation, how to invest with inflation, and how to invest during the current shortages. It’s an all-around podcast for all your investment and financial planning needs. The main goal is to help you take control of your money.

9. Sound Investing

Depending on your age and the stage of your life you’re in, you might not invest your money in the same way as other people. Sound Investing tells you how to invest your money while also navigating different life stages.

They also go over how to invest money as a way of getting financial freedom so that you are not surrounded by debt or other financial obligations. It will go over goals you need to have during each stage of life to make investing and saving money easier.

10. We Study Billionaires

Turn into We Study Billionaires every Saturday for about an hour to listen to interviews and commentary from famous personalities like Howard Marks and Warren Buffet. This podcast is a part of the Investor’s Podcast Network and has over 30 million downloads.

Most of the interviews feature tips on how to get into the stock market as well as the best investment strategies to use to make the most out of your money when putting it into stocks. You can learn important lessons from people that have been investing for decades.

Summary

There are many options to choose from, but this is our list of the best investing podcasts. Some might prefer one more than another, depending on your financial goals and how long you have been investing. Overall, there is something to learn from each of the podcasts.

You can focus on one or you can listen to a few. Most podcasts have an episode released every week, so you can plan your schedule for a new episode to listen to while exercising, working, or driving. You will learn everything from money management to risk analysis to current events.

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Are you getting ready to buy a home in 2022? Buying a house is no easy feat. Not only is it financially draining, the process can also be emotionally taxing. You can mitigate some of these challenges by coming into the process with a game plan. Here’s a guide on how to buy a house for first-time homebuyers in 2022.

Are You Ready To Buy A Home For The First Time?

Deciding to buy a home for the first time is a major commitment. If you can pull it off, you’ll likely feel proud while

Are you getting ready to buy a home in 2022? Buying a house is no easy feat. Not only is it financially draining, the process can also be emotionally taxing. You can mitigate some of these challenges by coming into the process with a game plan. Here’s a guide on how to buy a house for first-time homebuyers in 2022.

Are You Ready To Buy A Home For The First Time?

Deciding to buy a home for the first time is a major commitment. If you can pull it off, you’ll likely feel proud while having some peace of mind about your financial future. However, some new homeowners bite off more than they can chew and end up underwater.

Before you decide to buy a home, make sure you’re truly ready. First, consider whether you’re ready to put down roots in one place or if you prefer to maintain flexibility. Second, consider your employment income and financial status. Can you afford a down payment, a mortgage, plus housing repairs and maintenance and still live comfortably?

Timing is also important. For instance, it could be a hassle to buy a bachelor or bachelorette pad and then get married and have kids months later. Alternatively, what if you invest in your first starter home with your partner and then get relocated for work soon after? If you expect major lifestyle changes to enter the pipeline, it may be wise to hold off until things feel more stable.

Last but not least, even if you feel ready to buy a home, make sure the housing market is ready for you. Your credit health and access to liquid assets are major factors used by financial institutions to evaluate your home loan worthiness.

13 Steps To Buying A House In 2022

If you decide to buy a home, going into the process knowing what to expect will make things less stressful. The homebuying process is long and intricate, so it’s helpful to break it into smaller steps.

Here are 13 key steps to buying a house in 2022:

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1. Calculate How Much You Can Afford On A House

One of the first things you’ll want to do upon deciding to buy a house is to calculate your budget.

In the next section, we’ll discuss some upfront costs like your down payment and closing costs. Here, you’ll want to figure out how much money you can comfortably afford on a mortgage each month.

What is your income? What are your debts and expenses? What do you have left over each month? This will help you set up a budget that will indicate how much house you can afford. Don’t forget to factor in the cost of your property taxes and homeowners insurance.

You can use a free mortgage calculator such as the one provided by NerdWallet.com, which allows you to play with the numbers until you figure out your house budget.

2. Begin Saving For Your Down Payment & Closing Costs

In addition to your housing budget, you’ll also need to save up for the upfront costs of buying a house. The two main costs are the down payment and closing costs.

The Federal Housing Association (FHA) loan allows first-time home buyers to secure affordable mortgage loans. The down payment can be as low as 3.5 percent of the purchase price. However, any down payment under 20 percent comes with private mortgage insurance (PMI), an additional cost tied to your mortgage. It’s recommended that you sit down with a loan officer to find out how much they will lend you and what percentage down payment they’ll require. Getting preapproved for a mortgage loan will provide you with personalized information and help you set your savings goal.

Don’t forget to save money for closing costs as well. These are the fees associated with taking out a mortgage loan. Closing costs vary, but expect to pay at least 3 to 6 percent of the home purchase price.

3. Research Which Mortgage Is Best For You

There are several mortgage loan options available. Some are backed by the federal government and offer advantages for certain groups of Americans that qualify. If you qualify for a special type of loan, you should certainly take advantage.

Here are a few examples of mortgage options:

A Conventional Loan

The conventional loan is the traditional loan that you would get through a private bank that isn’t tied to a government program. These loans are often backed by Fannie Mae or Freddie Mac and are sometimes referred to as conforming loans. The majority of American homebuyers go through conventional loans. Depending on your financial circumstances and credit history, you could qualify for a loan that requires as little as 3 percent down.

An FHA Loan

If you’re buying a home for the first time, definitely consider the Federal Housing Administration (FHA) loan. This loan is insured by the government, meaning they’re less risky for lenders if you were to default on your payments. Thus, FHA loan requirements are more relaxed relative to conventional loan requirements. FHA loans require a down payment of as little as 3.5 percent down.

A VA Loan

VA loans are mortgage loans made available for veterans, members of the Armed Forces, the National Guard, and eligible reservists. Some surviving spouses also qualify. VA loans are popular amongst these groups because no down payment is required, and the program itself does not set forth a credit requirement. Most lenders do require a minimum credit score. The Department of Veterans Affairs backs these loans.

A USDA Loan

Last but not least is the government-insured USDA loan. These loans were introduced to assist homebuyers in rural and suburban areas. If you qualify, you can get a loan for as little as 0 percent down. To get a USDA loan, you must meet income limitations, and the home must be located in a qualifying rural area.

4. Get Preapproved For A Mortgage

Next, apply for a mortgage preapproval through your desired lender. To get preapproved, you will fill out an application that asks questions about your finances. Once approved, you’ll receive a preapproval letter that states how much you’ve been approved for.

Note that a preapproval is preliminary to a mortgage application, but is a helpful asset that tells you how much you’re likely to be approved for. Show this letter to your real estate agent, who will assist you in finding listings within your budget.

5. Find A Real Estate Agent

Don’t have a real estate agent yet? It’s time to find one! A real estate agent is an expert who can help you find listings, submit offers, and negotiate with sellers on your behalf.

You might already have a great real estate agent in your network. A great place to start is to ask friends and family for referrals for agents that they worked with and love.

Then, schedule interviews with a few of your top picks. This will help you find the best agent who seems most knowledgeable in your desired area. It’s also important to find a good fit personality-wise, as you’ll be working with them for an extended period.

6. Begin House Hunting

Once you’ve partnered with a real estate agent, it’s time to begin hunting for houses. Your agent will ask you for your wish list, which should include your non-negotiables and some “dream” items. For instance, you may require a minimum of 3 bedrooms, 2 bathrooms, and an open floor concept. A “dream” item would be something you would love to have in your home but isn’t necessary. (A jacuzzi or recreation room, for instance.)

Your agent will send you listings that may be a good fit based on your budget and wish list. Listing photos sometimes don’t do a property justice, while sometimes they inflate property appeal. Make a point to attend open houses and schedule viewings of listings in person when possible.

7. Choose A Home & Make An Offer

After you’ve viewed several listings and visited them in person, you’ll start developing an intuition for what type of houses are realistic for your budget and market.

Once you’ve found “the one,” it’s time to put in an offer. Your agent will help you navigate the market and come up with a competitive offer. In a seller’s market, you may have to put in an offer that is well over asking price in hopes of beating out other offers. In a buyer’s market, you may be able to put in a lower offer.

Your offer should be complete with your offer price, a copy of your preapproval letter, your desired terms and contingencies, and proof of funds for your down payment.

8. Conduct A Home Inspection

A home inspection is a critical step in the homebuying process. Some homebuyers are tempted to wave the home inspection contingency in a competitive market, as it could make their offer more appealing.

However, this is not recommended. Inspections aren’t required but will protect you in the long run. A professional inspector will comb through the home and property to identify potential issues. They will inspect electrical systems, roofing, appliances, plumbing, flooring, and much more.

When the process is complete, the inspector will provide a list of potential issues that they have found, including the severity of each issue.

Here, you’ll want to negotiate repairs with the seller. Although you may volunteer to address minor issues yourself, you should feel entitled to ask the seller to pay to repair major issues such as those that pose a health hazard.

If the seller won’t budge, you may want to reconsider the purchase. This is especially true if the inspection reveals an expensive problem that will drain your house budget.

Your agent will help you navigate these negotiations and advise you when you should move forward or move on.

9. Get A Home Appraisal

Along with the home inspection comes the home appraisal. Mortgage lenders require a home appraisal because they won’t lend more money than a home is worth.

If the seller has listed the property above market value, you may have trouble getting approved for financing. Consider including an appraisal contingency in your offer to prepare for this risk. This gives you the opportunity to lower your original offer or back out of the deal if the appraisal comes in at a lower value.

Although you may feel eager to buy the home, especially if you feel like it is “the one,” the appraisal process ultimately protects you. It will warn you against buying a home at a price that is well over market value. Ideally, the appraisal result will verify that you are purchasing a home just at or just below market value.

10. Negotiate Repairs & Credits

Before you move forward in your purchase agreement, you’ll need to finalize negotiations with your seller. Based on your home appraisal and inspection results, you may need to deal with any issues before your lender finalizes your loan.

Here, your agent can help you negotiate with the seller. This can come in the form of changing the purchase price, a credit at closing, or the seller agreeing to execute repairs before closing.

11. Secure Your Financing

Once you’ve gone through the leaps and hurdles of inspections and negotiations, it’s time to secure your financing.

Be careful to keep your finances and credit in check during this process because you don’t want to jeopardize your chances of getting approved. This is not the time to make other large purchases or open credit lines.

Your mortgage lender will require additional paperwork to complete the underwriting process, such as updated bank statements, your tax returns, and additional proof of income.

Once the process is complete, you’ll be approved for your home purchase loan!

12. Do A Final Walkthrough

Before you close on your home, be sure to conduct a final walkthrough. Once you close on the purchase, the house will become your responsibility in its entirety. This is your last opportunity to look at the property in person and address any outstanding issues before closing.

To assist with the walkthrough, bring along your inspection checklist and repair receipts for work conducted by the owner. Use these to verify that everything you agreed upon was completed and that your home is move-in ready.

13. Close On Your Home

Once you are fully satisfied, it’s time to close on your house! Let your agent and lender know that you’re ready to close. Your lender will change the status on your loan so that it is clear to close.

You’ll receive a closing disclosure that outlines all of your loan details. With this information, you’ll prepare your closing fee payment. At the closing meeting, you’ll sign a settlement statement, pay your down payment and closing costs, sign a promissory note for your loan, and sign your mortgage or house deed.

Once you’ve completed all these steps, you have officially closed on the home and are now a homeowner!

Summary

Buying a house is a major financial accomplishment and is often one of the most important milestones in a person’s life. Not only do you have a permanent roof over your head, but each mortgage payment is also an investment in your equity and financial future. This guide broke down how to buy a house into 13 steps. The process is notoriously long and complex, but anyone can master it if they go into it prepared. Happy house hunting!

[ Rental property investor, rehabber or wholesaler? Get to know which investing strategy is the best fit for YOU by attending our FREE online real estate class. ]

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Rental property management can be overwhelming at times. You need to manage maintenance, inspections, and repairs, and you need to arrange for showings and screen potential tenants to ensure they’re reliable. And you have to stay on top of all your paperwork, from lease agreements to any additional riders.

Property management software is designed to simplify this process. With the right software, you can list your properties, screen your tenants, and take care of paperwork all in the same place. Here’s a quick look at the ten best property management software suites for property owners.

1. Buildium

Buildium is one of the most full-featured property management services on today’s market. If you’re looking for software that does everything, look no further.

This software comes with many different functions for managing all aspects of a rental property. Within the interface, you can manage vacancies, maintenance, and even accounting. The accounting suite is very well thought out and includes automatic rent reminders, a complete ledger, and can generate reports on demand. There’s even an online tenant portal where tenants can make their rental payments online.

Buildium’s basic package costs $50 per month and covers up to 150 units. If needed, you can purchase larger packages with support for up to 5,000 units at the highest level. Higher tiers cost less money per unit, so larger properties will get the best price. Even so, $50 per month for 150 units works out to only $0.33 per unit, which is a trivial expense. Buildium also offers a 15-day free trial period, so you can see if it works for you before purchasing a membership.

This software has a ticket-based customer support system, which can sometimes take several hours to deliver a response. That said, the team is very knowledgeable and can help you through most common issues with minimal fuss.

In addition to all its native features, Buildium can be integrated with several popular third-party platforms. These platforms include Apartments.com, Apartment List, Forte, HappyCo, Happy Inspector, HotPads, Lovely, MSI, Nelco, PayNearMe, RevSpring, Tenant Turner, TransUnion, Trulia, Zillow, and Zumper.

[ Rental property investor, rehabber or wholesaler? Get to know which investing strategy is the best fit for YOU by attending our FREE online real estate class. ]

2. SparkRental

SparkRental is an excellent piece of property management software for building your stream of rental income. It allows you to post rental listings to many websites with one click and request online rental applications for free. You can collect rent online for free using SparkRental. Speaking of free, you can also download prepopulated tenant notices and eviction notices for each state at no cost.

You can also request tenant screening reports which include credit, criminal, and eviction information. This feature costs $39.90 total, which is charged to the renter. The software allows you to create a lease bundle with both a free version available and a premium state-specific bundle for $29.95.

Finally, a new feature coming soon will allow you to outsource your property maintenance calls for a small monthly fee. If you’re interested in growing your rental income, SparkRental is a great option!

3. AppFolio

AppFolio is designed primarily for landlords with many properties, although it’s suitable for any landlords trying to grow their business. It supports all types of units, from single-family homes to large apartment complexes, and most importantly of all, its offerings are à la carte. You pay a fixed fee per unit instead of an all-in-one fee. There’s no tiered pricing or other limitations on how many units you can manage. You also pay for advanced features individually, so you only pay for what you use.

To sign up, you first need to pay an onboarding fee of $400. After that, the fees per unit are as follows:

Not that there’s a minimum monthly fee of $280. For residential units, you’ll need at least 200 units to get the best price.

Within the software, you get access to several helpful property management features. You can create professional-looking websites for your properties, purchase sales leads, screen your tenants, and obtain both landlord and renters insurance. You can also accept online payments, track your maintenance, pay your utility bills, and even collect debts. Some of these services cost extra, but as we discussed, you only pay for what you need.

4. Propertyware

Propertyware is geared primarily towards landlords of single-family homes. It doesn’t have as many features as some other software suites, but that’s a feature, not a bug. Because there are no commercial rental features, the interface is much simpler than most comparable software, so it’s easier to learn and use. In terms of number of units, it works just as well whether you’re renting out a single home or hundreds of them.

This software has three pricing tiers: Basic, Plus, and Premium, which cost $1, $1.50, or $2.00 per unit, respectively. All tiers also have a minimum price, at $250 per month for the Basic plan, $350 for Plus, and $450 for Premium. As a result, you’ll only get the best pricing if you manage at least 200 units.

The Basic plan allows you to list vacant properties, run financial reports, schedule maintenance, screen prospective tenants, and collect rent payments through a dedicated tenant portal. The Plus plan does all of tis, bit also supports two-way text messaging, digital signatures, and inspection scheduling. The Premium plan adds maintenance management and portals for your supply vendors.

One area where Propertyware falls short is third-party integrations. Other than Mail Merge and DocuSign, there’s no third-party support, nor is there any planned. This isn’t a big deal if you’re looking for an all-in-one management solution. But if there are tools or services you already use, like Apartments.com, you won’t be able to integrate them.

5. SimplifyEm

SimplifyEm was designed by real estate professionals, for real estate professionals. It supports up to 2,000 units, but it’s especially well designed for smaller landlords. If you have fewer than 10 units, you’ll pay only $20 per month. This rises by $10 per month for every 10 additional units. So if you have 50 units, your fee is $60 per month. At that point, it switcher to charging in 25-unit increments, although the base rate of $1 per unch stays the same. There’s also a 15-day free trial, so you can see how it works before paying for a full membership.

The main attraction of SimplifyEm is its simplicity. It’s designed to be easy to use for average people, even if you’ve never been a landlord before. To this end, their service comes with live phone and email support, so you can get help with any issues.

The software tracks income and expenses, manages tenants and leases, and tenants can even buy renters insurance through the tenant portal. You can track maintenance requests, generate financial reports, screen tenants, and perform other essential tasks on the landlord’s end. You can also integrate with services like ACH.com, Fidelity, NARPM, TransUnion, Trulia, Zillow, and more.

6. MRI Software

MRI Software is designed primarily for commercial properties like large apartment buildings. These properties are typically owned by groups of investors rather than a single landlord, and those investors need tools and analyses that ordinary landlords don’t. As a result, this program comes with a number of features you won’t find in other similar software. Besides simple rental management, it also includes a ton of planning tools. You can use MRI Software to manage your investments, manage space, engage in strategic planning, and ensure compliance with local affordable and public housing regulations.

Pricing is a bit more opaque than other property management programs. There’s no free trial, and you have to call MRI Software for a quote in order to get pricing. It can also be purchased in two ways: an installed program or a cloud-based service. That said, it has generally good reviews on a number of landlord websites, where investors have praised its value. Vlad Mishkin from WebScraping.ia advises that “the only way to find out for sure is to get a quote for yourself. MRI Software is only really practical for properties with more than 50 units”.

7. Yardi Breeze

Yardi Breeze was one of the first cloud-based property management software services, and it’s still one of the best. Even before the cloud, they were working in the industry. They were founded way back in 1984 when PC software itself was still in its infancy.

One nice thing about Yardi Breeze is their straightforward pricing. Instead of tiers, they simply charge $1 per property per month. That’s pretty affordable and makes the software very competitive in today’s market. That said, there’s a minimum monthly charge of $100 per month for residential properties, or $200 for commercial properties. As a result, you’ll pay a premium for managing properties with fewer than 100 units. There’s also an additional upgrade package called Breeze Plus. This costs $2 per unit, with a $400 monthly minimum for both residential and commercial properties. All packages come with free training for the first 30 days and round-the-clock customer support.

This software comes with a lot of the same features we’ve seen in other services. You can manage applications, automate your marketing, and collect your rent online. But Yardi Breeze also allows tenants to upload smartphone photos along with a maintenance request.

8. Rent Manager

Rent Manager is a flexible property management platform that’s suitable for any number of units. Not only that, but it’s great for on-the-go use. In addition to accessing it from the cloud on any computer, you can also download the smartphone app. This allows you to accept payments, enter work orders, and schedule maintenance from your phone screen. You can also take photos and upload them to the cloud, which can be useful for maintenance purposes.

Within the platform, you can generate financial reports, manage work orders, and list your vacant units for rental. Rent Manager also has a website-building tool that can create a truly professional-looking site for your property. Moreover, you can track maintenance requests from the initial request to the completed job. To get a price, you’ll have to call for a quote. That said, there’s a free trial version if you want to take it for a test drive.

Tenants can also find a lot of value in Rent Manager. They can sign their lease electronically, negating the need for mail and postage. They can pay their rent online from any device and access all of their payment records. This keeps both landlords and tenants on the same page.

9. Re-Leased

Re-Leased is designed for all types of properties, from commercial to residential, even office buildings and industrial spaces. As with a few of our other top software services, pricing information isn’t publicly available. You’ll have to call and get a quote for your property to find out what it costs. All customers get access to 24/7 customer support and unlimited numbers of units. If you’ve got a growing business, you don’t have to worry about switching services later on.

The software allows you to automate a number of repetitive tasks. It can send out automated rent reminders, and you can use it to automate your property listings. A built-in communications hub connects you, your maintenance teams, and your tenants, which goes a long way to simplifying your maintenance projects. You can also integrate it with Google Calendar, Outlook, and Microsoft 365, so all of your calendars will be synced.

10. Avail

Avail is one of the most popular property management programs in the world. Geared primarily towards small and DIY landlords, it doesn’t have some of the features you’d expect from more robust commercial hardware. But because it has fewer features, it’s simpler, easier to use, and easier to learn. This makes it a great choice if you’re renting out one or two units for extra income.

That said, there are still a number of useful features. It has tools for screening tenants, and it generates digital leases that your tenants can sign electronically. As a matter of fact, it will also generate state-specific leases that comply with local laws and regulations. Tenants can pay their rent online from any device, although a small fee will be added to the transaction.

Perhaps Avail’s best feature is the price: it’s 100% free. You can use it for an unlimited number of units without paying a single penny. Then again, the paid version comes with additional features like custom leases, zero-fee rent payments, and next-day payments. At $5 per month, per unit, it’s a great value for smaller landlords, although the pricing is not competitive for larger properties.

Summary

As you can see, there are many software suites available to meet the needs of landlords and property management. Some are geared more towards larger or smaller properties, and different programs offer more or less functionality. When selecting property management software to use, the key is to find the one that’s the right fit for you and your business.

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At first glance, deed restrictions appear to be cumbersome rules designed to make the lives of homeowners more difficult. However, while they may be annoying, deed restrictions serve as an invaluable tool for maintaining uniformity and home values within a given neighborhood. Even common deed restrictions can improve entire communities, which begs the question: What is a deed restricted community?

The following was designed to introduce new homeowners to deed restrictions and help identify the

At first glance, deed restrictions appear to be cumbersome rules designed to make the lives of homeowners more difficult. However, while they may be annoying, deed restrictions serve as an invaluable tool for maintaining uniformity and home values within a given neighborhood. Even common deed restrictions can improve entire communities, which begs the question: What is a deed restricted community?

The following was designed to introduce new homeowners to deed restrictions and help identify the most common rules homeowners are comforted with and how they impact homeownership.

What Are Deed Restrictions?

Deed restrictions are recorded agreements that limit how an individual piece of land may be used by its owners. In their simplest form, deed restrictions are exactly what they sound like: legally binding restrictions the landowner must abide by. Common deed restrictions are traditionally put in place to prevent homeowners from doing anything to jeopardize the value of properties in a community, like painting the home a divisive color or blocking a neighbors view with an unwelcome home addition. At their pinnacle, however, deed restrictions keep everyone on the same page. When implemented well, deed restrictions are invaluable tools used to protect home values in residential neighborhoods and to restrict unwelcome businesses in commercial zones.

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10 Common Deed Restrictions You Should Know

Deed restrictions are as selective or abundant as the original underwriters want to make them. In other words, agreements may result in any number of restrictions placed on a deed—or none at all. Still, there are many restrictions that are more common than the rest of their counterparts. The following list represents not only some of the most common deed restrictions, but also the most important ones everyone should familiarize themselves with:

This list is not a comprehensive outline of every deed restriction but rather a list of the most important limitations buyers should be aware of before they close on a deal. Let’s dig a little deeper into each deed restriction and how they impact ownership.

1. Number Of Bedrooms

More common in some regions of the country than others, some deed restrictions place a strict limit on the number of bedrooms a residential home may have. While the limitation may sound like an incumbrance for prospective buyers at first, it was most likely put in place with homeowners’ best interest in mind. In particular, restrictions capping the number of rooms a home may have can preserve local home values. If for nothing else, room restrictions are put in place to enforce a uniform size between properties within a single neighborhood and prevent “larger” homes from dragging their smaller neighbors’ home values. Other times, room restrictions are put in place to accommodate sewer or septic capacity guidelines.

2. Pet & Animal Restrictions

Deed restrictions involving pets and animals are some of the most common restrictive covenants buyers have never heard of. Aptly named, however, pet and animal restrictions limit the types of pets and animals a property may legally harbor. Not surprisingly, the restrictions are once again put in place to maintain home values by ensuring neighbors won’t have to deal with unwelcome pets and animals. For example, in residential neighborhoods, it is common for pet and animal restrictions to prevent anyone from owning livestock like chickens, goats, and pigs. Limiting loud or smelly animals in residential neighborhoods decreases the likelihood of home value depreciation and increases peace of mind amongst communities. It is worth pointing out that these restrictions may also limit specific breeds of animals as well. While most neighborhoods allow dogs, some breeds may be added to a deed restriction.

3. Vehicle Restrictions

Vehicle restrictions are amongst the most common limitations homeowners will find written into their deeds. This particular deed restriction is intended to prevent a single home from cluttering a street with too many vehicles and unwanted eyesores. The presence of too many unwanted vehicles can drag down a neighborhood’s valuations if the automobiles become too much of a problem. As a result, homes are usually only allowed to park a certain amount of cars in the respective driveway or adjacent curbs.

4. Obstructing A Neighbor’s View

It has become common practice for many real estate transactions to include a deed restriction that prevents homeowners from obstructing neighbors’ views. Outside of serving as a common courtesy and a respectful nod to the neighbors, this particular restriction prevents homeowners from building any unwanted structures that may impair the views of anyone in the neighborhood. At the same time, this deed restriction also preserves home values by maligning sure neighbors don’t build any unwanted additions that could make neighbors less than happy.

5. Types Of Fencing

Most deed restrictions will dictate which types of walls and fences are suitable for a given neighborhood. To maintain property values, some restrictions will even prevent homes from installing chain link fences or very tall privacy fences. In addition to the types of fences, restrictions may also limit the height of said fences. Most fences placed in the front yard, for example, can’t exceed three to four feet. Backyard fences, on the other hand, are usually limited to about a maximum of six feet.

6. Home-Run Business Restrictions

A deed-restricted home can prevent owners from operating any sort of business on the premises. While it may seem unfair, common deed restrictions like this are implemented to maintain a more orderly neighborhood. If the business calls for a lot of foot traffic or deliveries, it’s entirely possible that the home could cause unwanted traffic and serve as an annoyance for subsequent neighbors. Additionally, some neighbors may not agree with the business itself, so many neighborhoods have agreed to keep their streets free of any business at all.

7. Color Palettes

One of the most widely used deed restrictions across the country has to do with the color of the home’s exterior. In particular, owners may only paint their homes with a color palette that has already been pre-approved. Once again, this is a restriction put in place to maintain uniformity and prevent anyone from disrupting the curb appeal of a given area. That said, the limited color palettes homeowners have to choose from aren’t only limited to paint. In many cases, homeowners will have to paint their homes using a pre-selected color palette, but there may also be rules stating the home must use a particular finish like stone or brick. Color palette restrictions can get incredibly detailed, and it’s in a homeowner’s best interest to abide by the rules.

8. Adjacent Structures

Adjacent structures, like sheds or detached garages, have become the target of many deed restrictions. While most homeowners will find them to be convenient and useful, neighbors may disagree. At the very least, it’s easy for an additional building to turn into an eyesore for neighbors. As a result, many deed restrictions won’t allow homeowners to build another structure on their land. If they aren’t forbidden outright, the rules that govern the installation of additional buildings may be strict.

9. Approval Plans

Some builders, developers, and HOAs will include themselves in subsequent deed restrictions so that they can influence any future plans for the property. For example, an HOA looking to maintain uniformity in a given neighborhood could stipulate that they need to approve any future renovations or additions on a home. In limiting the ability to change a home in any way, builders, developers, and HOAs can set strict standards for homeowners to live up to. In many cases, owners will need approval for everything—from the additions made to the materials used.

10. Tree Removal

Some deed restrictions are put in place to limit the number of trees removed from a property. The limitations will vary from the number of trees that may be removed to a strict no-removal clause. Some restrictions will state that owners will need to preserve a certain percentage of trees on the lot to maintain uniformity amongst the neighboring homes.

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Deed Restriction FAQs

If you are interested in a property with deed restrictions, it is crucial to gather all of the information you can before jumping into the situation. Here are some commonly asked questions about deed restrictions to help you learn more:

What Is A Deed Restricted Community?

A deed restricted community is a development or specific neighborhood overseen by a homeowners association that enforces rules for each homeowner to abide by. As always, the rules are strict, but they are almost always put in place to maintain local home values. If for nothing else, the HOA has a vested interest in the community and implements specific rules to maintain certain standards.

How Long Do Deed Restrictions Last?

Deed restrictions are permanent unless otherwise stated in the underwriting. Consequently, some restrictions may expire after a predetermined amount of time, or they may last forever. Despite their permanent nature, however, it is possible to have restrictions removed. With the proper consent, it may be possible for an owner to remove the restriction, especially if it has been deemed impractical or illegal.

Can You Change Or Remove Deed Restrictions?

It is possible to remove a deed restriction, but that’s not to say it will be easy. In fact, the act of removing a deed restriction can be very difficult, and sometimes impossible. For starters, anyone impacted by the current restriction will need to agree to have it removed. Gaining their blessing to remove the restriction will depend on whether or not they benefit from it. Obviously, those who benefit from it will be harder to persuade than those who don’t.

There are also rare circumstances in which a court order can have the restriction removed. Illegal, discriminatory, or impractical deed restrictions can be removed by a judge who finds them unfair. Sometimes a judge isn’t even necessary; the person who placed the restriction can have it removed if they don’t agree with it anymore.

Deed Restrictions Vs. Zoning Ordinances

While they are easy to confuse, deed restrictions are entirely different from local zoning ordinances. While the goal of each is to ultimately maintain the uniformity and status quo of a given area, the means to the end is completely different. Whereas deed restrictions are traditionally used to protect a specific interest in a community, zoning ordinances impact the community as a whole.

Specifically, zoning ordinances are implemented by the respective municipality and lay the foundation for how the entire community is laid out and operated. Additionally, any attempt to change a zoning ordinance will require a vote on behalf of the local planning board. Any owner can submit a request to change the zoning ordinance, but they will need to prove that the change is for the betterment of the community, and the change will need to pass a vote.

How To Identify Deed Restrictions On A Property

Deed restrictions can drastically impact homeownership, so prospective buyers need to know exactly what they are getting into before closing a deal. Fortunately, there are more than a few ways to find out if the subject property has any existing limitations the buyer needs to know about:

Deed Restrictions On Commercial Real Estate

Not unlike residential housing, commercial real estate will use deed restrictions to maintain uniformity and protect property valuations. That said, restrictions for commercial real estate tend to be less specific in commercial areas to have a broader impact. More often than not, however, commercial deed restrictions focus on maintaining a competitive advantage. It is common for a commercial deed restriction to prevent competing businesses from moving into the same complex. The idea is to protect businesses and make them feel more comfortable signing a lease in a commercial building.

Summary

On the surface, deed restrictions look to be nothing more than prohibitive rules homeowners must legally abide by. However, a deeper dive into their real purpose will reveal an attempt to maintain both uniformity and home valuations in the neighborhoods they govern. Thanks to deed restrictions, homeowners that are part of a community can rest assured that ill-advised decisions made by their neighbors won’t harm the value of their own homes. It is worth noting, however, that not all deed restrictions are created equal. Prospective buyers need to know what they are getting into before deciding to close on a new home. Hopefully, this article will serve as an introduction to what deed restrictions are and help new homeowners keep an eye out for the limitations their own deeds have.

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