Today's Current News, Opinion & Advice
If you suspect that your renter has disappeared and has no intention of returning to the rental property, you need to follow the appropriate steps before moving forward with re-renting the property. Before taking any moves towards re-renting the property, you need to check your state and local laws regarding rental property abandonment. Complying with…
One of your primary goals as a rental property owner or manager should include finding the most qualified tenant who will pay rent on time, follow lease terms, and take care of the property. And most importantly – you need to find this qualified tenant through legal avenues. Awareness of, and compliance with, Fair Housing…
In order to get your vacant property leased and occupied in the shortest amount of time possible, you need to give your rental ad maximum exposure. A proven method for getting maximum exposure for your rental vacancies involves placing rental ads in key locations online. A study from Apartments.com found that 61% of online…
Calling your rental applicant’s previous landlords for a reference is standard practice in tenant screening. You want to know if the tenant paid his rent on time, followed property rules, and is someone worth renting to. And who better to tell you if an applicant is a good renter than his current or past landlord.…
Landlords and real estate investors sometimes consider furnishing a rental property depending on the type of tenant they are hoping to attract and their market. Furnished apartments are typically ideal for short-term rental properties, corporate housing, and student housing. If you own rental property near a university, in a big city, or near businesses that…
The following article is from the Federal Trade Commission’s guidance on Using Consumer Reports: What Landlords Need to Know. Landlords and property managers are legally allowed to review a rental applicant’s consumer reports and run a background check to determine if he or she will be a qualified tenant. Housing providers will use a variety…
Laws pertaining to rental housing are established to protect both parties of the landlord-tenant relationship. Knowledge of and compliance with federal, state and local regulations is crucial for both landlords and tenants. Rental property owners want to run a profitable business and protect their investment. Tenants want to live peacefully in a rental home and…
If your rental property is in need of maintenance or repairs, some state laws allow tenants to make the repair and deduct the cost of the repair from their rent, referred to as repair and deduct. The concept of repair and deduct can be a point of contention between landlords and tenants who don’t fully…
Insurance policies designed specifically for landlords provide added protection for financial loss and obligations associated with your rental properties. While some landlords assume they can rely on their standard homeowners insurance to cover their rental units, homeowners coverage it usually not sufficient to protect an investment property. Landlord vs. Homeowners Insurance – What’s The Difference? Homeowners…
Down the rabbit hole we go. Congress used to work together to solve the big problems but the two party system has failed us. And today, the Republican party is tearing itself apart by the seams. Congress is dysfunctional because it is full of politicians. Other reasons include: An Entrenched Two Party System Lack of…
Tenant turnover is the process of getting a rental property ready for a new tenant after a lease expires and your previous tenant moves out. Property managers and landlords need to make the turnover as efficient as possible to minimize the time the property is unoccupied. Every day that a property sits vacant is a…
Be honest with yourself. How much interaction do you have with your tenants? Probably not much right? That’s why it’s so important to make a great first impression. You’ve already done the hard work of preparing the unit, running a background check, credit check & you’ve FINALLY found some great tenants. Now is the time to…
Current updates about Florida’s Hurricane Mathew is an important reminder that hurricane season is upon us. Property managers and landlords in hurricane zones have the added responsibility of ensuring the safety of their tenants and properties. While it is not necessarily a landlord’s job to hold their renters’ hands through every scary situation, ensuring that…
Renters and landlords alike may be wondering what steps they need to take if their property was damaged in Hurricane Harvey-related flooding. The Houston Chronicle reports that as many as 120,000 apartment units across the region have been damaged in floods related to Hurricane Harvey. Flood damage will affect both the renters who called…
Backpacks and crayons are lining the store shelves; parents are dancing a quiet jig, and students are soaking up the fleeting rays of summer. The start of the school year reminds us that autumn is nearly here. Now is the time to complete your seasonal maintenance and prep your properties for the cold and rain…
In the property management world a thriving tenant-landlord relationship can mean the difference between success and stress when it comes to managing your rental properties. That’s not to say success and stress are mutually exclusive in this industry, but a positive relationship with your tenants means higher tenant retention, less vacancies, more rental income and greater…
Despite a historically low rental vacancy rate across the country, there are some properties that sit vacant for too long. Vacancy is murder to the profitability of an investment property, so every landlord, investor, and property manager needs to prioritize getting a property rented. Even one month of vacancy can put your investment in the…
If you own an investment property and use a property manager, how do you really know they are working their hardest to maximize your profits? A property manager’s job is to make your life as an investor easier, ensuring the property is occupied maintained rent paying and the property is well maintained. You are paying…
Renter-occupied homes account for 37% of American households, a number that has been growing in the past decade according to the National Multifamily Housing Council (NMHC), creating a strong market for those looking to capitalize on this housing trend. Property managers and landlords collected $441 billion in rent payments across the U.S. in 2014,…
A signed leased means your new renters passed your tenant screening criteria but even the best tenants can forget to pay attention to certain property rules and lease terms in the midst of moving day excitement. Even if they did pay attention during the lease signing process, putting together “welcome to the property” paperwork that…
A strong lease agreement is a landlord’s best friend. A lease provides a binding contract to enforce your property rules and serves as the foundation for a solid landlord-tenant relationship. Part of your job as a good landlord is making sure you approve the most qualified tenant to live in your rental property. One of…
If you are thinking of hosting a pool party at your apartment complex, there are some things that you need to know. Before you invite your friends and family over for some fun in the sun, make sure that you plan for the event. Below we will learn some tips that will help you host…
Landlords and property managers have several reasons why the might create a pet policy for their rental property. A good pet policy will protect the property, comply with insurance, and keep your tenants safe and happy. For these very reasons, some managers and owners will decide that “no pets allowed” is their policy. If you…
Decorating and organizing your apartment can be full of fun and excitement, but it can be easy to get sucked into the belief that in order to have a cohesive and well-decorated space, that you have to hit your local department store and break the bank in the process. This is completely untrue! Break free…
As sturdy and reliable as your building seems right now, it can always fall victim to elements that can sicken you and others inside of it. Minute threats like mold, mildew, and other fungus can lurk in dark corners, under flooring, and behind walls where you cannot see them. When you figure out that you…
To protect yourself and your property, every adult living at your rental unit should sign a lease agreement to hold them legally responsible for rent payments and conditions of the lease. Most standard leases stipulate that tenants are accountable for any guests’ behavior and are responsible for enforcing the property’s rules and regulations. But what…
