Successful rental owners follow these guidelines to ensure the success of their rental, and maximize their owning experience. 1. Treat your rental property like a business… because it is a business! 2. Have a financial reserve set aside for the “unexpected.” Placing...
There are many exciting and interesting things to learn about being a landlord. But, one of the most often overlooked topics is rental property tax deductions! As a new or experienced landlord, you need to take the time to become a master of your taxes to ensure...
The COVID-19 pandemic has put over 40 million people out of work in the US–a full quarter of the labor force. While there are no reliable estimates as to how many of these people are renters, we do know that nearly 50 million people in the US rent their homes. Many...
Are you up to date with changes to the Rental Market? Rental properties are a great tool for getting in extra, steady income. But if you’re not paying attention, changes in market trends can sneak up on you. Don’t worry, we’re here to help! Read on for important...
The COVID-19 crisis has left millions of Americans in a tight financial spot. Many have been furloughed, laid off, or had to close their businesses. Others are saddled with medical bills from hospital stays or are dealing with grief from losing a loved one to the...
As the real estate market continues to boom, many renters are considering purchasing their first home. Determining when you are ready to buy a home comes down to several factors including: Down payment Debt to income ratio Job security Credit rating Demonstrating...
Did you know that every year winter storms cause an average of 1.5 billion dollars in property damage? If you own rental property, you may be curious about finding the best ways to properly winterize your investment homes. Keeping up with the property maintenance for...
Rental evictions are a normal part of being a property manager, but the process is not always easy to deal with. Unfortunately, there can be situations that arise, causing problems for both landlords and tenants. When a situation like the recent gas leaks occurs,...
Even though it was once a hobby only associated with old women, gardening is seeing a massive spike in popularity right now. What may surprise you is that the largest increase in gardening is happening among young people, primarily millennials. The issue is that while...
When it comes to returning a security deposit, it is important to understand what constitutes normal wear and tear on the rental property. Normal wear and tear is not a reason to withhold the security deposit, but damage to the property is a situation where you may be...
Pest infestations often result in serious inconvenience to tenants and landlords alike. They can also lead to far more serious problems, like severe damage to the property. Taking the steps to keep pests out of your rental properties is a far better alternative to...
Vacancies are often the most expensive problem that landlords face. Though your property isn’t currently bringing in any income, it is still racking up overhead expenses. It is very important to take the steps necessary to reduce your rental property vacancy rate....
Potential problem tenants can cause serious issues for your rental property business. When you take the steps to find good tenants, it is far more likely that evictions and other serious issues won’t arise. Here are some of the warnings and signs to watch out for when...
When it comes time to upgrade or renovate your rental property, it can be hard to know exactly which upgrades to take part in and where your money would best be spent. Plus, with the changes you make, you want to be sure they stay within the trends so you will be able...
When a landlord contemplates their pet policy, it is important for them to know both the pros and cons of allowing pets in their rental property. This will help them to make the best decision for their rental property and their tenants. Here are a few of the pros and...
Landlords face a multitude of concerns in order to effectively manage their property. Regular maintenance is an important part of a landlord’s job, as it serves to keep the building in the best condition for as long as possible. Performing a proper maintenance...
Landlords need to obtain the appropriate insurance coverage for their rental properties. However, this insurance only covers the landlord’s interests, not those of their tenant. It is equally important for tenants to obtain the appropriate renters insurance to protect...
Tenant turnover can lead to an incredible amount of profit loss. By following the proper steps, you can ensure that your business remains as profitable as possible. There are many mistakes that are common for a landlord to make throughout the tenant’s move out...
Finding a good tenant is one of the most stressful things for property owners. Screening applicants for a rental property is vital to finding the person that can become a great candidate. When you have a good tenant, you can relax and rest knowing that you have a...