Michigan Rental Laws - An Overview of Landlord-Tenant Rights in Michigan
Michigan is one of the most lucrative markets for investing in real estate. If you plan to invest in a Michigan rental home, it’s important to understand the landlord-tenant laws that rule the state to avoid any potential issues. As a landlord, you have the responsibility to ensure that you stay in compliance with these rent laws. Understanding the Michigan landlord-tenant law is important so that you’ll know your responsibilities as a landlord when you rent out your home. It is also crucial to understand the responsibilities and rights of you…
Is Professional Property Management Worth It?
The Rental Property Owner’s Association has a wonderful podcast series. A recent episode asked a question many of you probably have too – Is Professional Property Management Worth It? In this episode, two local property investors James Loftus & Patrick Spitzley discuss their experiences with using a property manager to take over their portfolios. James owns a large portfolio of rental units in Grand Rapids. He also happens to be one of our customers, and we are grateful he chooses Compass to be his professional property manag…
Do I Really Need a Professional Property Manager?
I or someone in my family can do it. There are times in life when everyone needs to hire something out. You lack either the time or skills (or both) to be able to complete a task and begin lo0king for someone who does. Often these choices are obvious. If you don’t know a socket from a driver you’ll be taking your car to a mechanic for brakes. The problem comes when you choose to do something yourself and find out later you underestimated the necessary amount of time or skill. This mistake can often be very expensive. Imagine custom ordering a n…
Types of Mortgages
Fortunately for buyers, there are a variety of mortgages to choose from. It is in your best interest to investigate each of them to determine which is the best for your situation. You probably won’t qualify for all of them. In fact, you may only qualify for one. But if you do qualify for more than one, you may save yourself money (and worry) in the long run if you do your homework before signing on the dotted line. Fixed-Rate Mortgages Adjustable-Rate Mortgages The Convertible ARM FHA and VA Loan Fixed Rate Mortgages Consider a fixed rate mo…
