Welcome to Millennium Realty, LLC

Bringing Owners & Tenants Together

Millennium Real Estate (MRE) is a full-service property management company serving Oakland, Lapeer, Livingston and Macomb counties. Millennium Real Estate has been in business for 15 years and continues to grow. Our success is based on honesty, knowledge, experience and our dedication to customer service. Inquire today to see why we are one of the fastest growing property management companies around.

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Manage your investment, don’t just collect rent!

Web Admin - Wednesday, April 22, 2015

Does your rental property live up to your financial expectations?

Don’t overlook the details


Make sure overlooked details don’t detract from the beauty of your property. Ignoring dirt and grime could become a big or costly repair job overtime. Encourage tenant to report maintenance problems immediately. 
Thoroughly clean all vent covers, switch plates and interior air flow grills. 
Replace dented, damaged & rusted fitting covers – don’t just paint over them. 
Examine cabinet interiors and built-ins. Be sure to remove or replace peeling shelf liners. 
Clean window panes (inside and out) to allow ample sunlight to flood the interior spaces. 
Adjust doors; clean sliding door and windows to ensure proper closure and easy operation.

Liven up the Landscape

Manage the property as if you live there. Take a tour of open spaces and inspect landscaping with a critical eye. Pull weeds, prune plantings and add mulch. Discuss options with your professional landscaping team or consult a landscaping architect for recommendations to de-clutter your open-spaces. Consider planting shrubs or low-maintenance ground cover in areas that usually develop bare spots.

Non-rent Income

Collecting ancillary or (non-rent) income is a tool used by many successful real estate investors to generate extra income and increase the value of their property. There are many different sources of non-rent income to consider, such as Application Fees, Admin Fees, Rental Premiums on specific units and Pet fee. Let’s take a closer look at Rental Premiums. Would you charge the same rent in a multi-unit for every two bedroom units with the same floor plan? Does one have a view with vaulted ceilings? Or suppose you have some units with fireplaces and some without. These are an excellent opportunity to capitalize on “Rental Premiums” many savvy rental owners are charging extra for the notion that there is perceived value in a unit on the 3rd floor as opposed to a first floor unit. This example could work the other way as well depending on your clientele; for instance in a senior community there may be a demand for units on the first floor for accessibility reasons.

Managing your investments instead of just collecting rent can increase your bottom line and assist in retaining long-term tenants. However, this does however require a large commitment of time and effort. Find out how Millennium Real Estate can help you find the time you need to do what is most important to you. Visit us online at www.mrerent.com

HOW TO UP YOUR GAME and be a better Landlord

Web Admin - Wednesday, April 08, 2015

A first-time landlord or an old pro can benefit from these tips. After all, there’s always room for improvement! Fine tuning your skills can increase occupancy rates, make for more consistent revenues, and lead to a less stressed life for you and your business.

Be Specific In Rental Contracts And Include More Details 

Don’t leave anything open to interpretation. If home improvements are restricted without the approval of the owner, list that. If installing a new ceiling fan is prohibited, your tenants are going to appreciate knowing that so they don’t waste money buying one. Details can save Landlord and Tenant headaches down the road.

Price Your Rentals Based On Current Market Conditions 

Do some research and see what other rentals in the area have rented for within the last six months and be sure your properties are priced accordingly. If you overprice a property, it will sit on the market for an extended period of time and will make a potential tenant think something is wrong with the property. Keep your bottom line in mind, but always stay reasonable.

Screen Prospective Tenants 

Good tenants are the key to a successful rental. Always do background checks, get thorough credit reports, and contact every personal and professional reference. Renting to individuals with sketchy histories can lead to trouble further on down the road.

Be More Personable 

When a tenant stops by with their rent payment, take a moment to ask about their families or jobs. Little inquiries like these can make your tenants feel more appreciated. Be professional, but friendly. A kind word goes a long way!

Maintain Your Property 

Make sure you’re addressing the concerns of your renters, whether it’s a leaky faucet or a faulty furnace. Nothing can damage a landlord-tenant relationship more than ignoring your tenants’ problems. You’re much more likely to have minimal tenant problems when your property is a place they enjoy coming home to.

Get Advice From A Professional 

No matter how long you’ve been a landlord, there’s nothing wrong with asking for advice. Professional property management companies provide a wealth of knowledge around legal issues, tenant relations, even evictions. Check out Millennium Real Estate’s website at www.mrerent.com to find out additional information regarding the benefits of hiring a professional property manager.

LOCATION

Millennium Real Estate
3676 Clarkston Rd. Suite A
Clarkston, MI 48348
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