End of Lease: 12-Month Renewal or Month-to-Month Extension?
As a landlord, you typically lease rental properties for 12-month periods. One year is a standard amount of time for people to comfortably decide where they will be in the year to come. Many tenants will want to renew for another 12 months. Others will have experienced life changes that will take them somewhere new. […]
Small Rental Maintenance Requests: Who Is Responsible?
Maintenance is an important question in any rental agreement. What should tenants call you about? What are you legally required to handle, and what should you take care of for practicality’s sake? These questions are essential for landlords and property managers. There are legal requirements when it comes to maintaining your rental units and fulfilling […]
DIY Updates for Landlords: 8 Ways to Spruce Up Your Property on a Budget
When you own a rental property, DIY renovations can be a great way to invest in property value without breaking your budget. There are many projects you can do yourself or with a team of friends and family that will make a rental home more appealing, modernize old features, and possibly even raise your rental […]
When and How to Prorate Rent
Often a new tenant will not start their lease on the first of the month. While you could certainly have them pay each month on the date their lease started, that will mean each tenant is paying out of sync with the rest. That’s where prorated rent makes everyone’s life a little easier. When you […]
How to Handle Mold in Rentals
Mold is a natural part of the ecosystem. Its job is to eat dead, rotting trees and plants, breaking them down into dirt to fertilize the next generation of growth. However, mold can’t tell the difference between houses and dead trees. This is bad news for homeowners, landlords, and residents. Especially because mold is also […]
How to Handle Tenant Harassment
As a landlord, you work hard to avoid even the appearance of harassment when it comes to your tenants. The goal is to strike a healthy balance with communication and allowing your tenant to live in peace in the home that they’re renting from you. It’s difficult, but the longer you manage your rentals, the […]
The 5 Most Common Winter Maintenance Requests
As a landlord, you provide timely repairs for tenants upon request. It takes teamwork to protects tenants from unsafe conditions and help to protect your property from long-term damage. During the winter, your duty is especially important, as repair issues can become much more urgent in cold weather. What types of winter maintenance can you expect? Should […]
Bank Accounts and Your Rental Investment
Over 82% of businesses fail due to financial mismanagement, which includes failing to have dedicated bank accounts to separate personal and business finances. In addition to saving your rental income, a bank account protects against liability, enhances bookkeeping and accounting, boosts your professional image and compliance, and streamlines budgeting and reporting. All good things, but […]
How to Successfully Implement a Rent Increase
As a landlord, raising rent is an inevitable part of the business. However, substantial rent increases can lead to tenant turnover if not handled carefully. Follow these tips to successfully implement a rent increase without losing your best tenants. Know the Legal Limitations Before considering a rent increase, research the laws in your state and […]
How to Enter an Occupied Rental
As a landlord, you may need to enter an occupied rental to check a water leakage, show a prospective tenant around, or a variety of other reasons that might come up over the course of a lease. Things may go south if you fail to approach this task professionally and respectfully. In fact, illegal entry […]
