You’ve likely heard that real estate investing is one of the easiest ways to become a millionaire. And it’s partially true; real estate prices tend to slowly rise over time (at least in valuable areas), and in the meantime, you’ll be able to collect rent checks from your tenants. However, there are hidden costs to being a landlord that make the job less appealing; you’ll be footing the bill for ongoing maintenance, repairs, and renovations, but even more important, you’ll be spending much of your time managing the property you’ve bought…. [Read More]
By and large, organization isn’t something that Americans are good at. We tend to have too many things, misplace items, and revel in clutter. It’s essentially a national pandemic that’s affecting a large majority of the population. Just consider the following facts as curated by Simply Orderly:… [Read More]
As a landlord, you’re legally obligated to ensure your rental properties are safe and free of defect for tenants. This means making sure the property is safe, secure, and void of dangerous factors that could result in physical harm. And this doesn’t just refer to issues that you know exist. Negligence liability means you can be held responsible if you failed to use due care in an effort to identify and fix issues…. [Read More]
This coming year, 2017, will bring changes for many people. According to Nielsen research, the majority of Americans will be making resolutions that have to do with their health and fitness. In 2015, 37 percent of people made a resolution to stay fit and healthy and 32 percent resolved to lose weight.
These resolution stats are basically unchanging from one year to the next. Another thing that never changes is how the majority of resolutions regarding health and fitness go strong through January and February, but largely disappear by the time spring arrives…. [Read More]
Most of us have had difficulties with a noisy neighbor in the past, whether it involved noise from a dorm room across the hall in college or a dog down the street that wouldn’t stop barking. It’s annoying, and in extreme circumstances, can seriously interfere with your sleeping habits and relaxation time.
If you have a tenant who’s consistently being too noisy, it’s your responsibility as a landlord to take action. If the person shares a building with other people, a prompt response is necessary to ensure your tenants remain satisfied…. [Read More]
If you’ve invested in an income property, you know the importance of saving money. As a landlord, it’s your job to make sure that apartments are filled, tenants are happy, and you’re bringing in a little extra at the end of the day.
This is a lot harder than it sounds, even for rental properties that make a good profit from their investments. Whether you’re dealing with a lucrative property or you’re struggling to make ends meet, these money management tips will help set you up for success…. [Read More]
In this day and age, landlords spend a lot more time online in order to bring attention to their rental properties, fill vacancies, screen tenants, and keep up with maintenance requests. It all starts with a great website, which is used to keep tenants informed and makes it easy for prospective tenants to find you…. [Read More]
It’s unrealistic to believe that renters can live in a property for an extended period of time and leave it in pristine condition. Even the best, most respectful tenants will exert normal wear and tear on your property.
It’s also normal for accidents that result in damage to the property to occur. Tenants may also neglect the unit and cause bigger problems. That’s why landlords require a security deposit and insurance. The funds from these two are intended to cover potential damage…. [Read More]
A Simple Guide to What Landlords Are Actually Responsible For
The perks of being a landlord make the job seem pretty appealing; all you have to do is find a good property, find a good tenant, then collect monthly checks indefinitely that more than pay for your own expenses. But remember, it’s still a job and there are still things you’re responsible for as the owner of the property. Unfortunately, landlord responsibilities can get muddled by complicated legal language and misinterpretations, as well as ambiguities about what landlords and tenants are separately responsible for…. [Read More]
Tenants and landlords are notorious for bickering over small issues and trying to shift blame or responsibility to the other party. One area where we commonly see this is rental property yard work. Who is supposed to cut the grass, pull the weeds, and ensure the property looks good? Depending on who you ask, you’ll get very different answers.
… [Read More]