When you own residential rental property, you run the risk of items like appliances and major systems (such as the furnace and air conditioner) breaking – even if it is just due to normal wear and tear. Unfortunately, paying to repair or replace these items can be expensive, and it can ultimately cut into [...]
Almost since the COVID-19 pandemic hit the U.S. in early 2020, both the stock market and the real estate market have moved in unpredictable directions. But, while stocks have moved in value both up and down, real estate prices – at least in most areas – have continued to increase…with many homes and properties selling [...]
There is a nearly endless list of risks that you can face as the owner of residential rental real estate. Some of these may be within your (or your tenants’) control, and others – such as hurricanes – are not. In any case, though, the cost of repairs and replacement items can really add [...]
If you own residential rental property, then you likely already know that you must wear many “hats.” For instance, you need to advertise vacancies, screen potential tenants, and collect rent (and security deposits). There is also the day-to-day maintenance items, such as making sure that the property is habitable (which can include things like no [...]
Owning rental real estate can be an expensive endeavor, which oftentimes requires taking on a hefty mortgage and entrusting the care of your investment to tenants (who are usually perfect strangers prior to renting from you). With that in mind, it just makes sense to protect your property(ies) from potential dangers that could cost you. Insurance [...]
Insurance is oftentimes considered a financial “necessary evil.” That’s because even though no one likes to pay any type of insurance premiums, when the time comes to file a claim, the benefits that are received are a welcome relief. So, as an investment property owner in Florida, are your tenants required to purchase renters insurance? In [...]
If you’re relying on rental real estate investments for a steady stream of incoming cash flow, the last thing you want to worry about is having to pay for costly damages or losses. With that in mind, it can be beneficial to purchase a landlord insurance policy. Landlord insurance is a type of coverage that [...]
In today's world, it's difficult to determine how a tenant relationship may (or may not) work out. For example, while a potential tenant may look great "on paper," and check out just fine with regard to income and credit score, it's still possible that they may end up causing some major damage to your investment [...]