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Entering the world of real estate investing can be both a scary and exciting time. Whether you have just bought your first rental property or you manage an entire apartment complex, staying organized is an essential part of successfully managing any investment property. The following three tips will help you escape the minutiae of the daily tasks of owning a rental and bring your business to the next level. 

1. Utilize Templates 

Managing communications with your tenants can be one of the most challenging aspects of owning a rental property. Implementing the use of templates can save time and energy by reducing the need to recreate the same documents over and over again. Some examples of useful templates to create include new tenant forms, maintenance requests, or lease termination documents. If you have a website for your business, you could upload all of these templates there; if you do not have a website, these templates can be emailed to your tenant when they move in for future use. 

2. Track Your Expenses 

For tax purposes, rental income is reported on the IRS Schedule E form. While you will need to set aside money for taxes throughout the year, it is equally important to accurately track any and all of your expenses. Expenses such as advertising, insurance, management fees, repairs, and travel expenses can all be written off, reducing your total taxable earnings from the property. In order to keep track of all of these expenses, new property managers should look to use software such as Google Sheets or Microsoft Excel. Maintaining these records will make filing your taxes much easier, and this information can also provide a great deal of insight when considering future investment properties. 

3. Find the Right Tenant 

Any experienced property manager will tell you that choosing the wrong tenant for your rental can create a laundry list of problems. This can make the difference between owning a profitable rental property and losing money due to missed payments and damages done to the home. While there is not a sure-fire way to ensure every tenant will work out, implementing a pre-lease screening process can greatly reduce the likelihood of renting your property to the wrong person. This process should include a criminal background check as well as a credit screening to ensure that the person is a law-abiding citizen with a proven record of timely payments. If the prospective tenant passes both checks, meet them in person for a final vetting to ensure you feel that they are the right fit. 

While managing a rental property can be stressful, implementing these recommendations can be a great way to start getting organized. However, if managing your property is not working out for you, call the property management experts at MMC Properties to take your real estate investing to the next level. MMC offers a comprehensive range of management services including professional real estate advising, a veteran maintenance staff ready to service your property, and tenant vetting services to ensure you find the right client. In the world of real estate investing, experience can make all the difference – contact the property management pros of Middle Tennessee. 

Since the beginning of the pandemic, many people haven’t been able to go out and enjoy activities. With us slowly overcoming this obstacle, more and more events are opening back up. It is still important to be mindful of the CDC guidelines for all events and general outings. Going out and enjoying what Fall has to offer is possible with the current situation for our society. We’ve compiled a list of a few events that you can attend and how to protect yourself during COVID-19. 

Autumn is for Apple Picking and Pumpkin Patches 

Apple orchards and pumpkin patches are popular places to visit in the fall months, as they should be! As with any event, check websites for updates on their guidelines for attending the farm and prepare accordingly. Keep in mind that due to the current situation some previous activities that were seen at the orchard, such as bobbing for apples, may not be available. If crowds are a worry for you, visit the farm at non-peak times and prepare yourself with items that will help you feel safer, like a face mask. 

As for things you can still look forward to participating in: 

• Picking Apples 
• Trying Apple and Pumpkin Pie Made from the Orchard/Patch 
• Buy Local Produce from their Store 
• Hayride 
• Corn Maze 
• Selecting Your Own Pumpkin to Take Home

Keep in mind that activities vary on the orchard/patch you visit.  

Local Orchards and Pumpkin Patches Near the Nashville Area: 

• Walden Pumpkin Farm – http://www.waldenpumpkinfarm.com/ 
• Breeden’ Orchard – https://breedensorchard.com/ 
• Morning Glory Orchard – https://www.morninggloryorchard.com/ 

Fall Sports Season has Begun, Go Enjoy It! 

Football is the star of the fall show, but there are other sports that go on during the fall season. When attending the events at the stadium, there are bound to be fewer tickets available due to the current covid protocols that the stadiums are following. You can still enjoy the events, cheer on your favorite teams and be safe all at the same time! Seats are currently still spaced out enough to maintain that six feet apart suggested by CDC and face coverings will be strongly recommended to help you remain safe during the duration of the game. 

Fall Sports: 

• Football 
• Soccer 
• Hockey 
• Basketball 

MMC Properties is a premier property management company in Middle Tennessee, serving the greater Nashville area of Smyrna, LaVergne, and Murfreesboro. To learn more about the services we offer, call (615) 849-9006 today. 

Spooky season is finally here, and you may be asking yourself: what’s the best way to celebrate in an apartment community? There are more ways than you would think! If you aren’t sure how to bring the spooky vibes to your complex, we’ve got you covered. From community social events to more down-low and simple arrangements, we chose the best that would benefit you and your community. We have three suggestions to help bring your apartment community together to celebrate the Halloween season.  

Community Movie Night 

Grab your projector and rent out a portable, inflatable screen and get ready for some fun and spooky times! Throughout the month of October, set aside times every weekend or just one weekend in October for a dedicated movie night with your residents. Alongside this, prepare some snacks and drinks for your residents. You want to treat your residents to thank them for being a part of your community and do some small events to spend time with them and show them that you care about them. Depending on the crowd for the night you can expand your movie choice from more children-friendly films to those with gore and intense scares. An additional way to include your residents in movie night is to let them vote on which movie will be shown! This can also be applied to various other events. 

Patio Decorating Contest 

Apartment living doesn’t always allow for a lot of outdoor decoration. If your apartment units come with patios, try to rally your residents into creating beautiful Halloween-inspired patio set-ups. You can hold a contest and have the renters compete to see who creates the best spooky set up on their balcony or patio. There are many ways that your residents can express their spooky spirit with lights, pumpkins, and spiderwebs. Give your community an opportunity to compete for prizes like a voucher or money off their next month’s rent, a spooky basket, or some other form of prize. To find the winner, have the residents do a vote for a week up to the results and announce them at a small get-together.  

Who’s Got the Spookiest Pet Costume? 

We all love our furry friends, and who doesn’t want to include them in their celebration? Set up a costume contest for all the furry friends of your community with a reward that will be a treat! Depending on the animal contestant, you can set up a voucher for a specific type of food, a pet store, or even create a specific basket for the winner. Just like with the patio contest, have the residents vote on their favorite pet costume and announce the winner at a social event or directly on social media. This is a great way to tie in more than your human residents in your community. 

MMC Properties is a premier property management company in Middle Tennessee, serving the greater Nashville area of Smyrna, LaVergne, and Murfreesboro. To learn more about the services we offer, call (615) 849-9006 today. 

If it takes too many steps, many people won’t do it; they won’t buy, try, ask, listen, read, or recycle. Literally, apartment buildings can have lots of steps and make it a major pain to drag one more thing down the stairs, but we know that the stakes are high on this one. 

Recycling is a global effort, but only 13% of the 2.12 billion tons of waste on this planet is recycled. How can we change this? There’s a famous adage that ‘one person cannot do everything, but everyone can do something,’ and it certainly applies here. 

There are just three steps to begin recycling, and recycling in apartment living is often an added layer of difficulty. Like any good plan of action, and saving the planet is no light feat, you need some preparation. 

Step 1: Research 

Start with a phone call or email to your property manager asking what services they provide or know of for recycling. It is not typical for property management companies to offer this service, so if you find one, celebrate! That’s less work for you, but since this is rare, be prepared for the likelihood that you’ll need to do a little more research. 

Go to Earth911.com to search in your area for recycling centers. Some areas have streamlined services that have low monthly costs, provide the bags or bins, and even sift and separate the recyclables for you. You will probably find, though, that you will need to transport your recycling to a nearby center, so it is a good idea to call there and ask about their procedure. 

This doesn’t have to be a lonely endeavor. Ask your property manager if they could help with getting you in touch with other renters in your complex that are interested in recycling. This could turn into a recycling rideshare, and you can rotate trips to the recycling center, saving time, gas, and money. 

Step 2: Prepare  

Designate an area for recyclables. Look to closet space, empty drawers, or, if there is room, floor or counter space next to the trash can. Add a reusable bag or box, and print some signs to hang on or near the receptacles. Keep at least one trash can for the trash that cannot be recycled, and, to keep your apartment from stinking to high-heaven, you should rinse out your recyclables before storing them. 

Develop a routine on paper, preferably with your neighbors, on taking the recyclables to the center, and make that an appointment in your phone that you keep. This will need to involve a transportation plan- if you don’t have a vehicle, then public transportation or a taxi, Uber, or Lyft may be an option. 

If you are using your own vehicle, you may want to line the trunk or floorboard with some plastic or waterproof fabric, just to be sure you don’t have any sneaky leaks from the recyclables. 

Step 3: Save Mother Earth 

Actually getting the recyclables to the recycling center is the trick. You could have all the best research and have created the greatest plan, but when it comes down to it, picking it up and putting one foot in front of the other is the task. Keep your appointment! Encourage others to do so, too. 

You can lead and inspire others to reduce, reuse, and recycle, as well. Reaching out to your apartment’s management company is the way to get the ball rolling. Who knows? Maybe you will be the renter who inspires your complex to adopt recycling services. 

Confucius asserted that ‘the man who moves a mountain, begins by carrying away small stones.’ Take that first step. Let’s move mountains of trash. 

Moving out of your apartment is an exciting and stressful time. On one hand, you have a lot to look forward to in your new living space, on the other, you have to worry about getting your old space cleaned up and ready for the next renter. We’ve all been there and that’s why we’ve compiled this list of must-clean items to tackle before fully moving out. 

Kitchen 

Ah, yes, the heart of the home! Well, apartment in this case. Usually filled with messes from creating homecooked meals and creating happy memories. This room will probably be the dirtiest due to how much time is usually spent occupying the space. Check these items off your to-do list before moving onto the next room: 

• Dust the tops of cabinets and fridge 
• Wipe down the surface of the cabinets and fridge 
• Dust and wipe the windowsills (if your kitchen has any) 
• Crown molding 
• Cabinet shelves and inside drawers 
• Fridge shelves and freezer 
• Oven (scrape out any caked-on food residue) 
• The stovetop 
• Remove drip pans 
• Scrub tile grout (if applicable) 
• Sweep, mop, and dry the flooring 

Bathrooms 

These rooms tend to be the cleanest due to this being the place where most people freshen up in the morning and at night. But it is still important to go over everything and make sure there aren’t any hidden dust bunnies hanging around. Check if you’ve cleaned these items before you give yourself a pat on the back and move on: 

• Exterior and interior of the toilets 
• Shower 
• Tub 
• Shower doors (if applicable) 
• Mirror 
• Remove all personal items from the storage area under the sink 
• Wipe down the under the sink storage 
• Sweep, mop, and dry the flooring 
• Scrub tile grout (if applicable) 

Living Room and Bedrooms 

Life of the party, the living room is the place where most entertaining happens if the unit does not have a large outdoor space. There is a lot of traffic in this area, and it can cause a lot of dirt accumulation. The same can be said for the bedroom as this is a place where people remove the day’s filth and prepare for rest. And a place of relaxation should be clean. Here is a list of items that need to be knocked off the cleaning list before you can look forward to your new bedroom and living space: 

• Vacuum and shampoo the carpet (if applicable) 
• Sweep, mop, and dry the flooring (if applicable) 
• Exterior and interior of windows 
• Double-check the closet doesn’t contain any personal items  
• Dust fan blades 
• Clean baseboards 

Additional Things to Do 

You’ve taken care of the inside, now what about the outside of your apartment? What if you had items hanging up on walls in your rooms and now there are holes in the wall? Don’t worry, we have a list for you to check twice for these items too! Do these things and you will be ready to move onto your new living space: 

• Sweep patio space and remove any personal items 
• Paint over any missing paint pieces on windowsills or on the wall 

If you still aren’t sure what items your landlord or apartment complex is needing you to clean before moving out, speak to your management team to find out a list directly from the source.  

Do you own an apartment complex and need assistance in managing the property? Reach out to one of our representatives at MMC to learn more about how we can assist you in your property management needs.

Investment properties can be a great type of passive income. From the tax benefits to the monthly income from rental payments, it is also one of the most secure investments on the market. However, it still takes hard work to begin seeing a profit. If you are considering a real estate investment, read on to learn what return on investment (ROI) and net operating income (NOI) mean for your property.

As a general rule of thumb, a good ROI for investment properties is above 10%. This could be lower depending on the level of risk you take. You can calculate ROI using a rental property calculator, but you will need to understand the following metrics first.

• Net Operating Income (NOI): This figure measures a property’s profitability before adding in costs from operating expenses, taxes, etc. It is calculated by subtracting all total expenses from all total income incurred from a property rental.
• Capitalization Rate (Cap Rate): This figure helps you compare which properties will be more profitable more quickly than others. It is calculated by dividing your NOI by the asking price or purchase price of the property.
• Annual Cash Flow: This figure is how much you will profit as the landlord after all mortgages, debt, and operating expenses are paid. It is calculated by subtracting debt from the net operating income.
• Cash-on-Cash Return: This figure shows the return you can expect from the funds you invest into the rental. It is calculated by dividing your after-tax annual cash flow by the purchase price of the property.

Another consideration for ROI is time. Your returns do not take place overnight. In fact, many recommend holding a real estate property for a minimum of five to ten years to allow for a full look at the ROI on a rental complex. Keep this in mind as you plan for your future and what this investment income will be needed for.

Investment properties are often a long-term strategy. While there may be some fluctuation in occupancy as the market ebbs and flows, you are in a very good position to see a strong return on your investment over time. One way you can directly influence this is through the management of your property. Happy tenants tend to stay longer in their rentals, which increases your occupancy and bottom line.

A great way to ensure your tenants have an excellent experience is by utilizing a property management service. This service provides you with a team of dedicated professionals who are able to handle the nuanced concerns of your residents without delay. Many real estate investors have full-time jobs and do not have the 24/7 availability residents desire. A property management company alleviates this by offering rental management, marketing, maintenance, and customer complaint resolution services. 

MMC Properties is a premier property management company in Middle Tennessee, serving the greater Nashville area of Smyrna, LaVergne, and Murfreesboro. To learn more about the services we offer, call (615) 849-9006 today.

There are many benefits to running an energy-efficient household. It supports the environment, reduces unnecessary electricity consumption, and helps you as the consumer to have a lower energy bill each month. In fact, making significant changes to your energy usage can reduce your monthly expense by as much as 25%. Here are six ways you can conserve energy and reduce your carbon footprint while renting an apartment. 

Monitor Your A/C 

One of the most significant ways to temper your energy use is by lowering your air conditioner whenever you leave home. By doing this, you can have cost savings between 4% to 8% for every degree the temperature is raised. If you live in a climate where it is cool in the evenings, you may even be able to turn off your A/C unit completely at night as you sleep. Monitoring your apartment’s temperature can go a long way in saving your energy bill. 

Clear Your Vents 

If your air conditioner vents are not cleaned regularly, your unit will have to work much harder, therefore consuming more energy, to cool your apartment. A vital way to keep your A/C unit working efficiently is by changing out the filters regularly. Over time, a filter becomes clogged with dust and particles that it pulls from the air within your home. Replacing old filters with new, clean ones can lower your A/C unit’s energy usage by 5% to 15%.  

Clean Your Coils 

Another major cost-saving can be achieved in your apartment’s kitchen. Because most apartments include a fridge, this isn’t exactly an item you can change out for a newer or more energy-efficient appliance. You can still reduce your energy use by cleaning the coils twice a year, which has the potential for up to a 40% improvement in energy efficiency.  

Use Your Ceiling Fan 

You may think that running your ceiling fan could be unhelpful in energy savings because it still uses electricity. However, a fan can reduce the temperature of a room by about four degrees. Because the air is circulating more frequently, your A/C unit can also cool the room quickly and efficiently. 

Change Your Light Bulbs 

More than likely, you are responsible for changing the lights in your apartment’s fixtures and the supplemental light you add from lamps or decorative lighting. Ensure you are using quality, energy-efficient LED light bulbs with an Energy Star rating. An 8 or 9-watt LED bulb produces as much light as a 60-watt traditional incandescent bulb, while using significantly less energy. Because LED bulbs also last much longer than incandescent bulbs, you will not be spending money as frequently to replace the bulbs when they burn out. 

Hang Window Treatments 

If your apartment has large windows, this can impact the temperature of your home as the sun naturally warms your interior space. Window treatments, such as curtains or blinds, block the sun’s rays and help deflect the heat. Blinds that have been fully closed against a window with direct sunlight can reduce interior heat by 45%. Closed curtains can reduce interior heat gain by 33%. If your apartment already provides blinds, keep these closed during the day and consider installing curtains for an additional heat barrier. 

By keeping your energy use low, you help both the environment and your wallet. Your apartment complex can also help you with energy efficiency by providing regular maintenance and energy-efficient appliances. To learn more about renting in the Middle Tennessee region, contact the experts at MMC Properties today. 

With today’s booming housing and apartment market, renters have more choices than ever when choosing their next home. While you can set your investment apart from the rest with quality interiors, convenient amenities, and great service, sometimes it takes a little curb appeal to capture the interest of potential residents. Here are five tips on how to improve your property’s first impression and attract the renters you want. 

Add Color

A fresh coat of paint can make a dramatic difference in your curb appeal. If you know the exterior is in need of a new coat of paint anyway, this can help your property look fresh and inviting. Even on newer buildings, the exterior color may be outdated or not as eye-catching. Consider using crisp, bold hues such as bright white, navy blue, or even a trendy pale green. Photos of your home or apartment will pop when viewed online, inspiring residents to schedule an in-person tour. 

Outdoor Art

There is a deep sense of pride that comes with living in a certain place. Capture that spirit through the details around your rental property. Adding local art is a great way to do this and sets your rental apart from others. This could range from a small all-weather sculpture in the garden to unique metalwork on the gate. The art does not need to be large or expensive, but it becomes a great conversation piece and something your tenants will take pride in. 

Luscious Landscaping

Just as changing the paint can add color and vibrancy to your property, landscaping and flowers can make a major impact as well. Choose plants that flower almost year-round and require minimal maintenance. Shrubs and small trees can add interest and dimension to the yard or surrounding area without needing to be watered routinely. If you want to improve the curb appeal from the moment someone sees the property, medium-sized flower beds or planters can be a great way to do this while planting the rest of the property with self-maintaining foliage. 

Fresh Touches 

Your property is probably well-maintained with safety checks conducted regularly. But do you also assess the aesthetic condition of your rental? Simple updates such as power washing sidewalks or porches and cleaning exterior windows do not go unnoticed by prospective tenants. Keeping these visual elements fresh and clean requires little cost outside of the time to complete the work, and it can be the reason someone chooses your safe, clean, property. 

Ample Lighting

If a potential tenant does not feel safe on your property, he or she is very unlikely to sign a rental agreement with you. Despite being in a great location with low crime and noise, your home or complex may not be close to existing streetlights. Multifamily property managers will want to invest in larger overhead lights to cover parking lots and sidewalks. Single-home investment owners will also want to install an outdoor lighting system to cover all entrances and sidewalks. Because many of these systems are solar-powered, they can be a low-cost update that adds to the curb appeal and feeling of safety. 

As the owner or manager of a rental property, you know it can take a lot of hard work to increase curb appeal. However, these tips can help make this task much more cost-effective, while also successfully attracting new tenants. For more industry experience and support with your real estate management, contact the team at MMC Properties today.

Apartment managers certainly do not have an easy job. From the bustle of giving tours and welcoming new residents to the stress of dealing with multiple tenants’ concerns, it can be easy to become frustrated. However, your residents call your property home and it is vital to provide a friendly atmosphere so that they’ll stay for many years. Here are five tips to help create a positive community. 

Resident Activities

Everybody loves a fun event to get them out of their apartment and meet new neighbors. Activities can be simple, such as a resident appreciation day offering donuts and to-go coffee as residents leave in the morning. Larger events are great to hold monthly or quarterly, giving residents plenty of advance notice. Ideas could include cornhole night, board game playoffs, or watching a major sporting event. Consider event themes that will attract all age groups so everyone has something they can enjoy. 

Local Collaborations

Your residents love living in Middle Tennessee, which is also why they chose to call your apartment complex home. Reach out to local businesses to ask if they would like to co-host an event with you. The business benefits by gaining new local customers, and you benefit by providing your residents access to a unique experience. Your “Taco Truck Tuesday” or “DIY Wreath Making” events could become a weekly occurrence for your guests! These fun, collaborative activities also take some of the stress of planning off your plate.

Well-Kept Amenities

Another way to keep smiles on your tenants’ faces is through the amenities you offer. These do not have to be luxurious or over the top, but they should always be clean, well-maintained, and operable. If an amenity such as a car wash station or fitness equipment remain unusable for too long, residents will start to grumble and complain. 

Respected Rules

Rules are an important part of ensuring your community stays happy. Establish a no-tolerance policy for noise after a certain time, cleanliness around common areas, and trash and recycling. These rules empower your residents to take care of the property alongside your maintenance staff. By giving them a sense of ownership, they will take pride in the community you create and want it to be a pleasant place to live for all residents. 

Recruit An Expert

Sometimes it is important to realize that the best way you can help your residents stay happy is by asking for help. A property management company can alleviate some of the stress that results from overseeing multiple aspects of your apartment complex. The friendly staff at MMC Properties can help you manage your community. Services include marketing your investment, screening applicants, processing tenant paperwork, and overseeing maintenance requests. With the help of their team, you can spend more time creating a positive environment for your residents. 

To speak with the dedicated real estate professionals at MMC Properties, call (615) 849-9006 today!

Heading off to college at Middle Tennessee State University can be one of the most exciting periods of your life. It is a time to learn and shape your future, meet new friends, and discover new passions. This may even be your first time living on your own or without your parents. As you hunt for an apartment close to the MTSU campus, there are a few things to keep in mind. Here, we have gathered the top five things to look for when renting for the school year. 

Great Location

You already made an excellent choice by becoming an MTSU Blue Raider and choosing to attend college in Murfreesboro, TN. This city has ample opportunities for part-time jobs and internships, along with pleasant apartment communities that are great for students. When you are creating a list of your top properties to tour, don’t forget to consider the surrounding location as well. Think about the proximity to a grocery store, gas station, and restaurants. Drive past the houses and businesses close to the apartment complex and determine if the neighborhood is right for you. You might be looking for a quieter environment to study and relax, or a livelier spot for socializing with friends.

Affordable Cost

Be very realistic with your budget when you begin to look for apartments. Murfreesboro certainly has some luxury complexes that offer incredible amenities and aesthetics, but these may be out of your price range as a student. A good general rule to consider is whether or not the monthly rent exceeds about 30% of your income or allowance. If it does, you may want to look at other properties. Some facilities will require you to disclose your income or have a co-signor as well. Finding a comfortable and affordable apartment is not hard in Murfreesboro, and you will have many options to choose from.

Quality Amenities

As a college student, you will want to have most of the conveniences from home to help save you money and time. Look for units that include a washer and dryer or laundry room to avoid taking trips to the laundromat. Storage space is also important, especially if you live with roommates and are sharing common areas. Apartments with ample kitchen cabinets and pantry space will come in handy when you and your roommates move in. 

Comfortable Floor Plan

As you plan for your furniture needs and discuss what each of your roommates will bring to furnish the space, review each unit’s floor plan. Make sure the furniture you have will fit well in the apartment. As a student, you will probably want to have a desk in your room for studying. Check to confirm that each bedroom has space for a bed, desk, and chair. A great way to decide if a floor plan suits your needs is to take an in-person tour of each unit you are considering. 

Quick Commute 

In addition to liking the local community and surrounding amenities, your apartment should also have a commute that you are comfortable with. Think of the convenience in the event that you plan to make lunch at home each day, forget a book, or want to take a break before an evening class begins. Having an apartment close to MTSU will allow you to feel part of campus life, while also having your own quiet space to study or relax with friends. If your college classes start early in the morning, you may also need to drive during rush-hour traffic. By choosing a spot that is close to the MTSU campus, you can ensure you are never late for class! 

There are many affordable and comfortable apartments for students in Murfreesboro! To take a tour and see what suits your needs, contact the team at MMC Properties at (615) 849-9006 today.