As most residential investment property owners know, it is typically much easier to keep your current tenant(s) in place than it is to go out and find new ones. So, if your renters have been impacted by the COVID-19 crisis, it is possible that they may have trouble with their rent payments going forward. In [...]
Mold is considered to be one of the top environmental hazards – and if it is left untreated, mold can spread very quickly, leading to physical illness of those who live or work in the direct vicinity. Because mold tends to thrive in warm, damp places, a year-round temperate climate like Florida’s can provide a [...]
As the owner of residential rental property, it’s a given that a home or apartment unit will require cleaning when a tenant moves out in order to get it up to par for the next. But depending on how your property looks upon inspection, determining the lines between what is normal and what is excessive [...]
If you own rental property in Florida, then under state law, you are required to return your tenant’s security deposit within 15 to 60 days after the tenant has moved out of the unit. Vacating the property includes physically moving out, as well as returning the keys. If there are certain repairs required that are [...]
With the holiday season now officially in full swing, you may be trying to come up with the ideal gift for your tenants – particularly if you want to thank them for taking good care of your investment property. Depending on just how generous you’re feeling – or on how much you have available to [...]
As another holiday season is almost upon us, it is time to start thinking about gift-giving. For many investment property owners, this is also a time to acknowledge and thank their tenants. With that in mind, do your tenants view you more like Santa, or rather as the Grinch? If you are more in the [...]
As the owner of residential real estate, it is typically expected that tenants will exert at least some amount of wear and tear on your property. Just some examples of this can include the fading of paint (both exterior and interior), small nail holes from pictures that were hung, loose door handles and / or [...]
If you have owned or managed rental property for any length of time, then it is possible that you've come across a tenant that isn't following the rules - and in some cases, may even be destructive. Is it time to evict? But if the time has come to move forward with an eviction, there [...]
If you've owned rental property for any length of time, you know that there are times when it can be difficult to acquire tenants, much less command a premium figure for your property's monthly rent. But the reality is that, by making just a few simple renovations, you can draw in top-quality renters, who will [...]
As a landlord, one of the most common complaints about tenants is the rent check being late. In some cases, there are circumstances where the tenant just simply is not able to get you the payment on time. But how do you handle those who are consistently late with the monthly rent check? There are [...]
In every real estate investor's life, there comes a time when you may consider selling some or all of your properties. But, if you have tenants who are currently residing in a property that you're hoping to put up for sale, should you - or by law, can you - move forward with the deal [...]
As a landlord, you will likely find yourself talking to a number of potential tenants, in the hopes of finding that ideal match for a property you have for rent. And, while you will have a number of key questions for them - such as requesting more details about their income and rental housing history [...]
Finding the ideal investment property can oftentimes be much easier with some assistance - and in many cases, that help can come from a commercial real estate professional who has a focus on the type of property that you're specifically looking for. But how can you find the best commercial real estate professional for you? [...]
Having an investment property sitting empty can certainly be frustrating. Knowing that the home or unit is costing you money every day, with no incoming cash flow to cover it, may make you feel like you should take on any potential tenant, regardless of the terms. But is consenting to a month to month lease [...]
Being a landlord, you may wear a number of different "hats," such as leasing agent, maintenance person, and the collector of funds. In addition to just receiving rent payments, though, it is likely that you have also received a security deposit from the tenant (or tenants) in each of the properties that you own. For [...]
Unfortunately, it happens. Even with the best of screening processes in place, there can still be times when you must deal with "nightmare" tenants. You know the ones. If you haven't had to deal with them personally, you likely know someone who has...or you, yourself, will someday if you continue to own rental property. When [...]
As a landlord, it is in your best interest to find stable, reliable tenants. One of the best ways to do that is by negotiating a mutually satisfactory lease agreement with potential tenants. Learn tips to negotiate a lease agreement to ensure your properties have quality tenants while keeping renters happy. When to Negotiate If [...]
One of the most difficult parts about owning rental property is finding tenants - especially good ones. So, when a tenant contacts you and says that they have to break their lease and vacate the property before the term of the lease has expired, it can be somewhat stressful. However, in order to help yourself [...]
While there is no specific number, it is estimated that it costs somewhere between four and ten times more to acquire a new customer than it does to keep an existing one - although some even say that the cost of obtaining new customers is actually closer to 30 times! Regardless of what the figure [...]
For more than 65 years, the Baby Boomer generation has had a substantial impact on the United States economy. Nearly every industry has been affected - and housing is no different. As this group moves into their retirement years, many will be looking to rent. This is especially the case in areas such as Florida, [...]
As the owner of rental property, it can be both rewarding and difficult to keep your tenants happy. Although most of your renters will typically never make a complaint, if or when the time does arise, it is important to get the issue handled as quickly and as professionally as possible - regardless of how [...]
For many people, their pets are a part of the family. According to the Humane Society of the United States, approximately 72% of American households that rent their homes actually have pets. But unfortunately, those who rent can also oftentimes have trouble with finding homes that welcome their four-legged family members. One of the biggest [...]
If you’ve owned investment property for any length of time, you may have already come across them – and if you plan to be a landlord for a long time in the future, then the reality is that you probably will meet them at some point down the road. “They” are destructive tenants. These are [...]
When purchasing investment property to hold and lease, certainly one of your key goals is typically to maximize your rental income - and when doing so, there are usually two primary ways to increase your bottom line over time. One is to increase the rental income to your tenants. The other is to decrease your [...]
A continuously occupied rental property can be a great investment. Just knowing that the rent check is coming in each and every month can keep your bank account augmented - and it can also allow you to sleep much better at night. But having a property that is vacant - even for just a few [...]
As a property owner, there will eventually come a time when you will need to raise the rent on your investment in order to continue generating a viable return. Yet, this can at times appear difficult, as you want to ensure that you don't scare your tenants away when doing so. In fact, not generating [...]
As a property owner, it only makes sense that you want to keep your investment as nice as you possibly can - and unfortunately, one of the fastest ways to rack up damages is by having a tenant with an unruly pet. In many cases, pets produce damage in large part due to poor training [...]
In order to truly profit from investment property, purchasing the right property - and even locating the right tenant - is really only half the battle. The other half is keeping those great tenants happy so that they continue to renew their lease and remain in your property for the long term. But the question [...]
Even the best of landlords will likely have to deal with a problem tenant at least somewhere along the line. This is especially the case if you own numerous rental properties, or properties that have multiple units for lease. There are a variety of reasons why you may have to evict a tenant. While it [...]
If you're a landlord or rental property owner, you know that keeping good tenants in place is the key to keeping money in your pocket. But what's the key to tenant retention? Tenant retention is the key to profitability In the words of President Obama, let me be clear: It is money in [...]
In the below video, I speak briefly on the tenant screening mindset that all landlords should try to establish the first time they meet a potential tenant to try to answer the big question - Is this person someone you want living in your home? As part of our Landlord Tips series, I talk about [...]
People who believe they would not qualify to rent a home as themselves have an incentive to pretend they are someone else in order to qualify for a lease. This could include people with poor credit, convicted felons and other sorts of criminals, and people with prior evictions, repossessions, and foreclosures on their personal record. [...]
If you were born before 1986, you have probably heard a lot of Georgia Tech alumnus Jeff Foxworthy’s ‘You Might be a Redneck, If…’ jokes. Well, I've compiled a similar list that pertains to types people you shouldn't rent to. And they aren't jokes. So, without further ado… If they show up to view a house [...]
Is water heated by a free hot water heater any less hot than one you purchase? Unless you’re a rap superstar, you probably don’t like spending money you don’t have to. And, unless you have a religious issue with it, odds are pretty good that you enjoy getting stuff for free. Luckily for you, if [...]
No one is born a landlord. Nobody is born with the investor mindset. Some choose to become landlords as part of an investment strategy. Others become ‘accidental landlords’ when a job transfer or other unpredictable life event forces them to rent their former residence. Regardless, to be a good landlord requires a little finesse, a [...]
They say that the only certainties in life are death and taxes. I think it’s safe to add a third item to that list: Property repairs for landlords. If you own a rental home, at some point you will have to repair, replace or perform some other time of maintenance on your property. But, don’t [...]