How to Make Sure Your Favorite Tenants Stay
Having to replace a good tenant can be very expensive. The final costs of replacing a tenant can easily exceed $4,000. Accordingly, it‚Äôs very important that you try to hold onto your favorite tenants for as long as possible. Offering competitive rental rates and keeping your property in good condition are obvious requirements in this […]
Cancellation of Debt on Rental Property
There are a lot of unique tax circumstances that can hit an investor at any given time. One of the most common issues that landlords face is a cancellation of debt on a rental property. The removal of a debt is a good thing and it brings a sense of relief, but that’s not the […]
Safety Options for Rental Properties
Your rental property is an investment. There are a few subtle ways to protect this investment, such as getting homeowner’s insurance. However, it’s also important to think about more direct safety options for your rental properties to protect them from burglars and vandals. Here are three options for protecting your properties and your tenants: Alarm […]
3 Dangers of Unscreened Tenants
Even if you screen every tenant that you accept into your rental property, there are other ways that unscreened tenants may end up living there. Your tenant might let a down-on-their-luck friend couch-surf while they get back on their feet. They may be caught up in a whirlwind romance that has their significant other staying […]
How to Legally Tackle Skipping Tenants
Dealing with tenants who skip out on their lease can be a very frustrating endeavor; however, there are some steps that a landlord can take to recover the money that is owed to them. As a landlord, you have a right to collect money that is owed to you when a tenant leaves the rented […]
Minimizing the Damage Done to Your Property
Normal wear and tear on a unit is… well, normal. Depending on how long the tenant lives within your house or apartment unit, you’ll see wear on carpets, on walls, and on appliances. This is all just a part of life in a person’s home, but there are certain things you can do to minimize […]
How To Get Rid of Squatters
Your tenant has abandoned the rental property and you haven’t realized this as the property owner. You’ve been sending out the notices to pay or quit because you haven’t been getting the rent, but the tenant has literally moved out and left the property vacant. During your inspection of the property to see what is […]
How to Set a Late Fee for Rent
If you’ve just picked up a rental property and are creating a lease, then after you decide how much rent you want to charge, you’ll want to decide on late fees. Some landlords don’t charge a late fee for their rent. Others have a flat charge that is assessed if a rental payment is overdue. […]
Are Multi-Family Properties More Profitable?
When investing in real estate, there are always a few questions that must be answered before you start. One of the most basic is: What types of property make the best investments? Mixed-use properties have a different set of benefits and challenges than strictly residential. Multi-family properties can produce more income, but they also come […]
Why You Should Follow Up With Tenant References
Renting your property to tenants can be a great way to make a living or earn extra money on the side, but without proper diligence, it can also be a source of tension, stress, and financial burden. The biggest way to prevent headaches and stress when dealing managing tenants is to screen them properly before […]
