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There are always important changes happening in the real estate market, locally and nationally. These changes can affect YOU. Interest rates, zoning and tax laws, new ways to market your home and enhance its value...

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Real Estate Tips
Investment Real Estate >Planning for Repairs

If you are the owner of an investment property, you are responsible when something breaks down in the building. So when the tenants call with an emergency, you will need to have a list of local repair companies you can contact, and money in the bank to pay for their services.

One of the best ways to protect your property investment is to purchase a home warranty that covers your home against unexpected system breakdowns that can be costly, particularly if the heating or plumbing systems need repair. The yearly cost of a good home warranty is probably less than the cost of replacing a broken water heater. If your property is older, a home warranty will provide you with greater security and peace of mind.

Another way to plan for investment property repairs is by building up a monthly surplus account, where part of your positive cash flow can sit in preparation for the day some major repair is needed. Having a "rainy day" fund will relieve you of financial stress when something has to be fixed.

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Arlene and Thomas Gonnella, REALTOR®, real estate agents and broker for Short Hills, Millburn and Summit, New Jersey home listings, property and land for sale - NUMBER1EXPERT(tm)

Arlene and Thomas Gonnella
Weichert, Realtors

505 Millburn Avenue
Short Hills, NJ 07078
Office: 973-376-4545 x190
Cell: 201-306-1357
Res.: 201-978-3776
Fax: 973-912-0072
Arlenegonnella@gmail.com

Arlene is the #1 Agent in the Millburn/Short Hills Market for 2004, 2005, 2006, 2007, 2008 and 2009 per GSMLS and the #1 Agent in the Entire Company for 2002, 2004, 2005, 2006, 2007, 2008 and 2009

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