Today's Current News, Opinion & Advice
Discover your rights and responsbilities when it comes to air conditioning in a rental home in this article by Lisa Oram and originally published by Furnace Compare. What are a tenant’s rights when the air conditioning breaks? If the AC in your apartment is on the fritz in the middle of summer, you probably want…
Properly screening your tenants is the most important step a landlord can do to protect their investment property and management business. In order to ensure that you have responsible tenants, that not only pay their rent on time but also value and take care of their home, there are certain qualifications landlords use to evaluate…
A new feature from Rentec Direct allows your tenants to take a picture of a maintenance problem with their smart phone and attach it to a maintenance request or work order in the Tenant Portal. The ability to attach photos to work orders will help illustrate the problem and provide additional help to landlords or…
I’m sorry, but I just have to laugh at all the contentious rhetoric I read (primarily on Facebook) about the Los Angeles Neighborhood Councils in San Pedro. There are currently 97 Neighborhood Councils within the city limits, each with a $42K annual budget and a corresponding Department of Neighborhood Empowerment within City Hall. “Department of Neighborhood…
Late rent payments and non-payment are some of the biggest costs associated with managing rental properties. Not only are you depending on rental income to cover property expenses, owner payments, mortgage payments, or even your own supplemental income, but the implications of non-payment could mean a long legal battle to collect rent owed and evict…
So your credit stinks. Maybe you have a bankruptcy, or maybe your credit has tanked from some unfortunate decisions. Or, maybe it’s something more innocent, such as a few missed car or rent payments. Bad credit affects your life, from rent applications, car loan applications, and even merchant loan applications. Whatever the reasons, consumers want…
As a rental property owner or property manager you have the responsibility to provide a safe home to your tenants. Property safety goes beyond the structural integrity of your rented home to include tenant safety through proper security systems. While it may be unnecessary to equip your rental properties with complete alarm systems or surveillance…
Landlords and property managers are required to respect their tenants homes and provide them with a peaceful environment, known as the implied covenant of quiet enjoyment. Unsolicited visits, whether from the owner or maintenance personnel, can be annoying for your renters and disturb their quiet enjoyment. However, there are plenty of legitimate reasons an owner…
The 4th of July is a beloved holiday by many, and your residents will no doubt be soaking up the summer rays and enjoying BBQs to celebrate. Unlike most holidays, however, when evening draws near, the festivities truly begin in the form of celebratory fireworks. For property managers, this seemingly harmless fun can come with…
One of the benefits of renting includes the option for tenants to defer home maintenance to the property owner or management company. When a pipe bursts or an appliance starts acting up, a renter simply needs to put in a call to their manager or landlord to fix the problem. While it may be true…
When you start managing rental property, you will need to find a good accounting system to track your rent payments, expenses, payments, and profits. Accounting Systems for Property Management Just like any business venture, you need to be able to track the monetary success (and failures) of your rental properties with a good accounting system.…
A new housing bill in Colorado allows victims of sexual assault and stalking to break a residential rental lease agreement, letting tenants move out without incurring any fines or financial penalties. On June 1, 2017, Colorado Gov. John Hickenlooper signed a new law, House Bill 1035, giving victims of sexual assault and stalking options to…
For the first time in four years, San Pedro Prep Softball ended a season with a CIF champion. And for the first time in eight years, that champion would once again be San Pedro High softball. On Saturday, May 20, the Pirates staged a fearless rally in the bottom of the seventh inning to turn…
Sometimes a landlord or property manager will ask a rental applicant to have a co-signer sign the lease agreement. Sometimes referred to as a guarantor, a co-signer signs the lease along with the tenant and agrees to pay the rent if the actual renter is unable to for any reason. Co-signers are not expected to…
You ran the background checks. You approved credit scores and financial responsibility. References have been verified and security deposit and rent checks have cleared. You’ve done everything possible to ensure your tenants will respect the property and pay rent on time. But even the best tenant screening can’t prevent conflicting lifestyles between your neighboring tenants,…
Being a renter means you sometimes need to get a little creative with your decor and organizing to ensure you don’t damage your rental space and risk losing your security deposit. While it can seem like your options are limited, there are a lot of damage-free and creative solutions to ensure that your space is…
College towns have become hot markets for real estate investors looking to capitalize on off-campus housing demands from a steady stream of renters year after year. According to Zillow, the rising demand for college rentals keeps pushing rent rates up, while home purchase prices are still recovering from their decline during the financial crisis. This…
Property managers and landlords can feel confident that their sensitive data and secure files are safe from computer hackers when using a secure cloud-based software, like Rentec Direct, for their real estate business. In light of the recent ransomware cyber attack, which authorities are citing as the world’s biggest cyberattack ever, everyone needs to…
Real estate can be one of the most profitable and secure investments for individuals who do their research and put energy into efficiently managing their properties. I bought my first property when I was 21 and officially entered the investment game when I purchased my second property a few years later. As my investment portfolio…
Money guide for Millennials My wife and I are hoping to be first-time homebuyers this year. We’ll likely blow our savings on the down payment and closing costs. What’s the best way to handle the costs for home renovations? Private loan? Just wait a year or two for our savings to replenish some? –Brian &…
May is officially National Moving Month! To celebrate one of the rental industry’s most notable holidays, we are giving you the best tips to make sure that your renters have a smooth and successful moving day. Remember, a smooth moving day for your renters, means less stress for you as their new manager or landlord.…
Part of managing a successful investment property involves keeping up with property maintenance so you can charge the maximum rent for your area, maintain a safe home for your renters, and ensure that vacancies rate remain low. The best property care involves routine maintenance and inspections each season that will prepare a home for seasonal…
Developing a plan for collecting rent payments will save you the headache and the hassle of remembering which tenants have paid, who’s rent is late and what to do if a tenant never pays. A rent collection policy is a documented system that you and your team use to enforce late fees and lease terms.…
There is a joke that the only time we read the fine print of any contract is when a problem arises. This collective negligence is not a new thing. According to David Hoffman, a professor at the University of Pennsylvania Law School, few people read contracts in their entirety. But what does this mean for…
Part of owning a successful business or managing a profitable investment is finding areas to cut costs, save money, and grow your profit margins. Managing rental property, whether as your own investment or for your clients, is an endeavor where smart business choices will improve your bottom line. There are areas, however, where cutting corners…
If you own or manage rental property, you should always be thinking about ways to increase the profits your rental property. Generally, the easiest way to increase profits on a rental property, is avoid vacancy at all costs and to maximize rental income. As a property manager, you can suggest these updates to your clients…
