Security deposits are generally regarded as essential for landlords in the event of damage to the property. All the fees and bills like first month’s rent, pet fees, deposits, and the cost of moving can make the security deposit hard to pay for tenants. Security deposit...
Evictions are never a happy time for landlords, they are a last resort for delinquent tenants. Other than being costly, evictions take time and resources to complete. There are times when you have no choice, but are they always necessary? What are the cons? Sometimes, evictions...
Reputation is the most important aspect to being a successful landlord. A landlord with a good reputation will attract better tenants and allow for fewer vacancies. Having a good reputation will also help you grow your business and make more money. Managing your online reputation...
A good screening process is the most important thing you can do in property management. Putting the right people in your property is the next most important thing you can do, otherwise you could be in serious trouble down the line. Don’t let quality tenants...
Being a landlord is a world of opposites. It can be easy or hard, you can make good money or you can lose it all in legal fees. No matter how you do it, whether you self-manage or outsource it, doing it right can save...
Tenant screening is critical to success as a landlord. Screening is not just about removing the bad candidates from your list, but also reducing the problems with finding a good applicant that will fit your property well. A simple credit screening can weed out bad financial...
COVID-19 has brought the need to be ready for anything into the forefront of the world. Landlords have long been negotiating rent relief tactics for struggling tenants. The federal government has sent out moratoriums for evictions and foreclosures during this pandemic as well. Because of...
Late rent payments are a huge challenge for landlords that could cause a domino effect with many other problems to follow. It creates cash flow issues as well as tensions between landlord and tenant. No tenants want to be hit with a late fee, especially...
Insuring Investment Properties is critical to making sure your hard work is protected fully as well as safe. Foregoing proper insurance, while saving money in the short-term, could ruin everything you worked to complete. Working with a trusted agent who understands the nuances property and liability,...
Raising rent allows for keeping your rent prices in line with the market. You first need to figure out if raising rent is possible, because during the lease terms, the rate for a rental property is fixed for the duration of the lease. For this...