Rental Property Advantages Although the COVID-19 outbreak has caused countless hardships for individuals and businesses, there are actually some industries that are thriving. One of those is the housing market. But, while low mortgage rates are enticing to home purchasers, not everyone is ready to buy. So, if you own residential rental property in [...]
As a rental property owner, it is likely that your goal is for your investment(s) to generate income, as well as to increase in value (and in turn, in equity) over time. With so many changes happening in the U.S. (and around the world) now, how could your property(ies) be impacted – particularly during [...]
A Home warranty can cover some or all of the cost of repairs or replacement on appliances, fixtures, and even major systems like water heaters and HVAC. While these policies can be extremely cost effective for homeowners, though, can they be purchased for rental homes? The Answer Is Yes The answer is a resounding [...]
Safeguarding your rental properties should be a priority at all times. But during the COVID-19 pandemic, it can be particularly important for keeping yourself, as well as your current and potential future tenants out of harm’s way. The good news is that people still need a place to live, even in these challenging times. [...]
Given all of the “events” of the past ten months – including the COVID-19 pandemic - it’s no surprise that many people are more than ready for the year 2020 to end. But if you’re the owner of rental properties that are sitting empty, you may be feeling a sense of urgency to get these [...]
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 [...]