Interest rates are low, lenders need more business, and credit card companies want to attract better quality customers. These are the economic conditions that open the door for growth opportunities. On Wednesday, March 17th, the Federal Reserve’s Open Market Committee led by Fed Chair Janet Yellen not only left short term interest rates alone but clearly signaled fewer rate increases ahead.
This wasn’t a big surprise. Markets had already capitulated on the chance of rates rising for now, but hearing it from the Fed still matters. It shows the Fed means it when it says rate increases aren’t on a preset course. It also demonstrates the central bank knows there’s a risk of a recession.
As a result the benchmark 10-year Treasury bond yield stayed well below 2%. This keeps mortgage rates near all-time lows and creates a positive environment for refinancing and initiating new loans. Now is a prudent time to touch bases with your favorite lending institutions to learn about the latest loan terms. Ask about incentives being offered to help your clients to refinance existing loans. Lenders may be more amenable to offering higher credit limits and expanded buying power. This opens the door for you and your clients to lower debt maintenance costs and expand their investments.
It’s still a favorable time to be acquiring or building residential rental units. From duplexes to multi-unit apartment complexes, in many areas the demand from renters continues to exceed the supply. Your clients will appreciate your help in finding ways to lower their expenses and increase their net incomes. Their loyalty will flourish as they’re reminded that you’re looking out for their success.
As a property manager, now is also an auspicious time to grow your business. Begin by taking inventory of your technology, how to improve your workspace, advertise your services and your equipment needs. There are a number of lucrative incentives and discount programs available geared to help your expansion plans. Contact your preferred vendors and suppliers to see how they can help.
One way to grow your buying power is to examine the new business-friendly programs that the credit card industry is currently offering. They include some of the best cash back incentives and rewards yet.
For example, American Express recently created its new “SimplyCash Plus Card” offering 5% cash back on purchases from U.S. office supply stores and wireless telephone services purchased directly from U.S. service providers. The card also offers 3% cash back from a list of 8 categories including U.S. gas stations, restaurants, purchases for advertising in select media, hotel rooms, car rentals and “U.S. computer hardware, software, and cloud computing purchases made directly from select providers.”
The incentive included the potential to receive an additional $500 to $1,000 cash back on purchases made within the first 3 months of card membership. The terms seemed doable too.
The company’s disclosure of terms and conditions stated, “If you make $5,000 in qualifying purchases within the first 3 months from the date your account is approved, you can get a $500 …read more
From:: Property Management