Champaign-Urbana Real Estate Tips for Out of State Investors


Investing out of state has become easier than ever, thanks to the exceptional technology and expertise of local property management companies. At Ramshaw Real Estate, we provide property management in the Champaign-Urbana market for a lot of investors who live outside of the area. This is a great place to invest, and it’s not uncommon to have buyers from out of state or even out of the country interested in the opportunities available.

When you’re investing close to home, it’s easy to check in on things once in a while. You can drive by your property and respond to any emergencies right away. When you’re out of state, however, you need some extra protection. Today, we’re sharing some tips on how to invest from outside of the area, and what you should expect from your Champaign-Urbana property managers.

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4 Tips for First-time Champaign-Urbana Real Estate Investors


Owning real estate in Champaign-Urbana is an excellent way to establish financial security and build some long-term wealth. Your investment will appreciate over time, and you’ll also collect monthly rent, which will contribute to the costs of maintaining a rental property. It’s definitely a smart financial move.

While there are a lot of benefits to renting out your property, there are a few challenges as well, and always some unexpected surprises. If you’re investing in real estate for the first time, check out these tips from a local property management company that specializes in residential rental homes. We’re here to help you avoid the expensive and time-consuming mistakes that many first-time investors tend to make.

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How to Collect Rent from Residents | Advice for Champaign-Urbana Landlords


As straightforward as rent collection might sound, there’s a lot to consider. A landlord and a tenant sign a rental agreement in which the tenant promises to pay a specific amount of rent on the first day of each month. This area can cause tension between landlords and their residents, especially if the information is unclear or inconsistent.

As professional Champaign-Urbana property managers, we have automated and systematic rent collection policies in place. We know it can be both frustrating to chase down late rent and disruptive to your own financial planning. We have advice, and always recommend that you work with a local property management company if you have any problems with your tenants or your rental home.

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Tips for an Annual Rental Inspection Checklist for Landlords | Champaign-Urbana Property Management

Tips for an Annual Rental Inspection Checklist for Landlords

Annual rental inspections are an important part of protecting your investment property. Whether you want to inspect halfway through the leasing period or right before the lease is scheduled to renew, make sure you get into your property at least one time during the tenancy to make sure there aren’t any deferred or unreported maintenance issues lurking, and to check in with your tenants and make sure they’re following the lease requirements and enjoying where they live.

A local property management company can help you manage this process if you’re unsure about how to conduct it, live out of town or state, or if you lack the time and the systems to effectively inspect your rental units. As an experienced team of Champaign-Urbana property managers, we have the inspection process down to a science, and today we’re sharing some of our checklist items with you.

Inspect with Preventative Maintenance In Mind

One of the reasons that a professional property management company will conduct inspections annually is to follow a program of preventative maintenance. Most rental homes have a lot of small issues that are easy to miss and potentially unnoticed by residents. When you’re conducting annual inspections, make sure you’re checking:

  • Faucets and sinks for potential leaks
  • Roofs and outdoor spaces for tree branches and debris
  • HVAC systems, especially heaters, furnaces, and air conditioning units
  • Water heaters for rust and deterioration
  • Appliances

It’s a good time to look for evidence of pests or water intrusion. Tenants who do not complain frequently may think they’re being considerate when they don’t report every minor issue. But, you don’t want to let small repairs turn into larger and expensive repairs. Use this annual inspection to get an idea of what your property needs. Preventative maintenance is always more cost effective.

Champaign – Urbana Property Management and Lease Enforcement

Another item for your annual inspection checklist is lease enforcement. When your tenants sign their lease agreement, they’re promising to follow the rules and meet your expectations. Most residents do this, but some will get away with whatever they can. Use the annual inspection to look for:

  • Unauthorized pets
  • Unauthorized people
  • Lack of cleanliness or upkeep
  • Criminal activity
  • Smoking

If something needs to be addressed, talk to the tenant about it and then put in writing what needs to be done in order to come into lease compliance. It’s also a good time to talk to your tenants about how they like their unit, and whether there’s anything that would make their experience better. This will help with tenant retention.

Provide Plenty of Notice Before Inspecting

Provide Plenty of Notice Before InspectingYou must keep in mind that you cannot simply go to the property without notice in order to perform an inspection. You shouldn’t stop by just for the sake of looking around. You have to have a specific reason, and you have to respect the tenants’ rights when it comes to entering their home. So, be sure you are checking for something specific. Your lease agreement could mention your annual inspection so tenants aren’t surprised.

Annual inspections protect your property and ensure your tenants are performing the way you expect them to. Make sure you get them done on a regular basis.

If you need a local property management company to help, please contact us at Ramshaw Real Estate. We’d love to be your resource for Urbana and Champaign property management.

Proper Maintenance Can Save Your Rental Property in Champaign-Urbana

Proper Maintenance Can Save Your Rental Property in Champaign Urbana

Maintaining your rental property will increase your income and attract high-quality tenants as well as higher rental values. If you aren’t paying attention to preventive and routine maintenance, you’re going to be left with deferred repairs that are only more expensive.

It’s essential to put together a solid maintenance plan if you want to save your investment from extra unexpected expenses and deterioration. Good maintenance practices will serve your tenant retention plans and increase the value of your asset.

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