Tom Crimmins Realty Blog - Real Estate Tips

Responsibilities of a Property Manager

Pros and Cons of Hiring a Property Manager

An individual or business engaged to supervise a real estate unit's daily operations is known as a property manager. When they are unable or unwilling to handle the properties themselves, real estate investors and property owners usually hire property managers. A property manager plays the important role of managing a specific property and listens to the list of regulations that the property owner sets out for them.

As always when it comes to putting your trust in a person or a team to run your business for you whilst you are handling the behind the scenes work, there are always pros and cons. Managing many properties and maintaining tenant satisfaction may be challenging. If you don't have the time to…

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A Guide to Buying a Second Home

All About Buying a Second Home - Tips & Reasons:

After buying a primary home that you and your family live in and you have made it your dream home, you should consider buying a second home if it makes sense for you! This is a major commitment and comes along with a variety of factors to consider. A second home can be a great advantage if bought under certain circumstances. When investing into a second home, some of the major things to ask yourself is what the purpose is for buying this property, are you able to fully afford this property, and does the location of the property provide benefits for the value of the property to increase. These factors stated above should give the person an understanding if they will be able to make this next major…

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Reverse Prospecting: What is It, and How Do I Do It?

What is Reverse Prospecting and Why Is It Helpful?

Reverse prospecting is a handy feature on the SIMLS (a.k.a. FlexMLS) that any agent should be using to market their listings! So what is it? As defined by FlexMLS, "Reverse prospecting matches potential buyers with your listings. It works by searching for members who have contacts with saved searches that match your listings." In this rough market, you want to advertise yourself as much as possible. Use this slow-time productively to your advantage. As our own broker Tom Crimmins says, marketing yourself now will lead to vast growth when things are back on an upward trajectory. By performing a reverse prospecting, you can ensure that your listing is being advertised to people who are looking for…

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Real Estate Word of the Day: Acceptance

Real Estate Word of the Day: Acceptance

In the context of real estate, acceptance is defined as "the grantee's taking of a deed of transfer." The acceptance stage is one of the most pivotal in both the home buying and selling processes. As both a buyer and a seller, an acceptance is just what you're looking for, and is the first major step towards your goal. But what exactly is an acceptance? Once an offer has been made by someone looking to purchase a property (the buyer), the seller and their agent can then make a decision as to whether this is an offer they want to accept. If they agree, both parties have now entered a mutual acceptance. An acceptance requires no signing of contracts, and is non-binding. In our own Broker, Tom Crimmins' words, "An…

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Tips to Protect Your Home During the Winter

How to protect your home during the Winter:

During the winter months in New York, we can experience snowstorms, freezing temperatures, ice, etc. During the winter months, your home is more prone to experience some ice damage to your home's foundation which can also result in leaks, the formation of mildew, and even damage to your carpet. During cold weather if you have a sump pump, cold conditions can freeze a pipe, sending water back into the house and increasing the risk of leaks, mold, and mildew in your home. There are many possibilities of what can happen especially as during the colder months, challenges are profound. In Staten Island, the weather has been relatively decent this winter season but these are tips to keep in mind to prepare your…

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Process of Buying a Home

The Simplified Steps to Purchasing a Home:

When it comes to purchasing a home, it is a big investment and you want to do everything correctly. When it comes to Real Estate, there are a bunch of terms that may confuse you completely and discourage you. However, the process of buying a home does not have to be as difficult as it seems if certain steps are followed.

One of the main steps is to find a real estate agent that will direct you through this process. Once a real estate agent is found, the home searching process can begin. The homeowner/seller pays the agent fees out of the money received from the sale of the property in New York, much like nearly every other real estate market in the United States. This indicates that they are paying for…

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What is a Homeowners Association?

Pros and Cons of a Homeowners Association:

A real estate developer will establish a homeowners association to plan and oversee the construction of a neighborhood comprising houses, townhomes, and/or condominiums. It is granted the power to oversee the development's common areas and enforce the covenants, regulations, and limits. A homeowners association is a group of board directors that run the private community.

These board members analyze and watch over the property, manage the finances, enforce specific rules, and make sure the community is caught up with all of the maintenance. These individuals that are classified as the board directors are elected by all of the homeowners. The homeowners association has many responsibilities that impact…

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What is a Property Manager?

All About Property Managers:

A property manager is a person or business that is employed to handle the daily management of a piece of real estate. When they are unable or unwilling to handle the properties themselves, landowners and investors in real estate generally engage property managers. A property manager has various responsibilities that are given to them by the they are hired from. The property manager is required to watch over and manage the real estate properties that the owners hired them to do so.

Specific roles of the property manager are determining the rent of the property, fixing repairs, performing maintenance and repairs, and handling the issues with clients of the property. The property manager is required to deal with both…

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The Difference Between an Estate Sale & Garage Sale

All About Estate Sales & Garage Sales:

While driving around Staten Island, you may see signs posted all around saying “GARAGE SALE” at a said location and time or you may see a sign that says “ESTATE SALE.” If you have ever wondered if there is a difference between the two, yes there is. When compared to garage sales, estate sales are more structured and official. In contrast to garage sales, which are intended to get rid of outdated household goods, estate sales are aimed to clear out a complete estate. Estate sales are one-time events, although homeowners may opt to have garage sales for several weeks at a time. Both garage and estate sales are fantastic choices for anybody hoping to get a great price on unique stuff, regardless of how you're…

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What is a Home Inspection?

Pros and Cons of a Home Inspection:

When purchasing a home, one important step most realtors encourage prospective buyers to take is getting a home inspection done on the home they put down an accepted offer on. A home inspection is a detailed inspection of the home in order to determine the condition of the property. During a home inspection, the inspector analyzes the specific conditions of the home usually when the home is being sold on the market. The inspector will inspect different features of the property such as the heating and cooling systems, electrical work, plumbing, the water, sewage, and many more things.

A home inspection confirms to the new buyer that the current property is safe to live in and gives them insight on what to…

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