The New and Existing Taxes Landlords Should Know About in 2023
As a landlord, staying on top of all the taxes that come with owning and managing rental properties can be challenging. Each year the tax code changes, and it can take time to keep up. In 2023, there are some new taxes that landlords should be aware of and some existing taxes that will still […]
How Landlords Can Ensure Success Going into 2023
In the United States the law that governs the landlord-tenant relationship. State and federal governments have specific regulations to safeguard the rights of both parties. There are often new laws and regulations at the beginning of every new year, and 2023 is no exception. You must understand and abide by these regulations to remain profitable. […]
When to Replace the Carpet in a Rental Instead of Cleaning It
Investing in real estate can be lucrative, especially as your portfolio grows. As that investment portfolio grows, you’ll start to find a variety of costs that you may not have considered, and those can start to add up. One of those inevitable costs is the wear and tear of certain aspects of the property, like […]
How to Balance Property Management and Life during the Holidays
It’s that time of year again. You may have already put in for your holiday vacation with your day job, but as an individual landlord that handles your own property management, you could find yourself struggling for the best way to balance travel and your rental business this season. If you’re traveling, hosting, or just […]
Rent Payments Primer
As a landlord, rental payments are the core of your business model. How you accept rent payments will shape the experience of your tenants and their ability to pay you on time. Traditionally, rent payments were paid in cash or check, delivered directly to the landlord in person or by certified mail. However, times have […]
Should a Landlord Accept a Partial Rent Payment?
It’s no secret that when a tenant is late with their rent payment that it will put a strain on the landlord and property owner to pay the bills associated with that rental property. Even so, unexpected issues arise, sometimes even with the best of tenants. A lost job, an unexpected medical bill, or any […]
What Every Landlord Should Know about Tenant Turnover
The period between tenants – often referred to as the tenant turnover period – can be a hectic time. There’s a delicate balance between respecting the outgoing tenant, preparing and showing the rental, and welcoming the new tenant. When working with an outgoing tenant, it’s important to go over the entire house and ensure everything […]
Everything You Need to Know About Tenant Criminal Reports
Research shows that 1 out of 3 young Americans have been arrested. While it‚Äôs important to know that not every arrest results in a charge or conviction, a landlord should always include a criminal report ‚Äì also referred to as a background check ‚Äì as part of their tenant screening process. Until a few years […]
Rental Property Damage and What You Can Do to Protect Your Investment
When you invest your hard-earned money into real estate, you’ll want to make sure you protect that investment. Part of that process is educating yourself on what could eat into your profits. One of the most significant profit-eaters is rental property damage. There’s good news here. Some property damage is entirely preventable. For the damage […]
Is Accepting Credit Cards for Online Rent Payments Worth It?
Cash used to be king, but in today’s digital society things are changing. Online bill pay has increased in recent years with recurring payments chief among those. And why not? The customer – or in your case, the tenant – sets up recurring payments and it’s paid on time, every time. No need to remember […]
