Low-Cost Kitchen Renovations That Boost Rental Value
It is no secret that kitchen renovations boost property value, so it should come as no surprise that an upgraded kitchen can also help to attract tenants and boost the amount that you can charge in rent. Unfortunately, major kitchen renovations run well over $10,000. If you are not able to put a lot of […]
Residential Lease Documents Explained
A properly completed residential lease, with all of important components, is essential to a proper landlord/tenant relationship. It’s in the best interests of all parties for everything to be laid out in writing, so don’t hesitate to ensure that all items are covered. Remember that each law covering leases will have subtle differences in each […]
How to Read a Credit Report
An individual’s credit report is one of the most important tools landlords should be utilizing to help ensure their properties are rented to the most qualified candidates in the market. Along with employment and past references, credit is a critical decision making tool, but it’s not as effective if it’s not completely understood. This sample […]
How to Verify Contractor License
In most jurisdictions, a contractor must be licensed as a business and in their chosen specialty. This specialty license is issued by the Department of Labor and Industries or similar agency, and a number is assigned to the contractor. Most contractors are required to publish this number in all public communications. To verify the contractor […]
5 Golden Rules to Create Model Tenants
After investing in your rental property, your tenants become your most valuable asset. They help determine your staying power in the real estate business, and therefore serve as valuable additions to your property’s value. Selecting good tenants is a difficult role for most landlords, but not because of the caliber of tenants. There are many […]
Short Term Property Management Tips
Whether you are looking to add some extra cash into your budget to make ends meet or you want to supplement your holiday plans by renting out your home, short-term property management can pay off with some big rewards. Even if you just have an extra room, you could make more than $20,000 per year […]
Protecting Vacant Properties From Vandalism
Most rental properties undergo a vacancy period at some point, whether they‚Äôre between tenants or yet to be rented. Vacant property is a frustration and concern for landlords because the owners aren‚Äôt earning income during this time, and the house becomes at risk for potential problems like vandalism. A study by the US Department of […]
Rental Property Deductions
Owning a rental property means that you are a business owner and property owner at the same time. Because of this, the owner must be aware of key rental property deductions that you can take every year to help manage your tax liabilities. It is important to remember that these deductions are not the same […]
Four Must-Haves for New Landlords
You‚Äôre ready to take on your new role as a landlord, and you‚Äôre motivated to be successful. Equipped with the right tools and mindset, you can successfully manage your property, ensuring that your place remains well maintained and your tenants are pleased with their new abode. These four must-haves will make your tenure as a […]
Best Payment Options Landlords Should Accept for Rent
Regular, on-time rent payment is critical in ensuring your business remains profitable and running smoothly. Sometimes, however, rent isn‚Äôt paid ‚Äì from lack of funds, travel, or just forgetfulness. Offering a variety of options might be a good solution to helping your tenants stay on track. Let‚Äôs first start with the old standbys ‚Äì check […]
