Whenever you have multiple families and individuals living in the same community and sharing facilities like pools, saunas, clubhouses, barbecues, and laundry rooms, you’re going to see lifestyle differences that are sure to clash and cause frustration for tenants and possibly even you.
Most landlords begin property investing with the mindset that they’re going to take care of everything themselves. The idea is that investing in a rental is a hands-off way to make money, and in some cases, that turns out to be true. If you’re renting a single- or double-family unit that doesn’t require much upkeep and you have good, long-term tenants, it’s possible that you could simply collect rent checks that turn you a profit and not have to worry about your property on the regular…. [Read More]
No matter how carefully you screen your tenants, there’s always the chance that one of them will end up damaging your property. This is a serious problem since property damage can range from something simple (like a hole in the wall) to something devastating, which could compromise the entire profitability of your investment. Fortunately, there are a number of steps you can take as a landlord to mitigate any further damage, cover the expenses to repair the damage, and resolve the situation as peacefully and pain-free as possible…. [Read More]
There are many great things about being a landlord, but it can be trying if the lease isn’t strong. Lease problems put landlords in hot water and allow the tenants to get away with behavior that would otherwise be unacceptable. The lease is meant to protect you, but if it’s not well-written, you could find yourself in a lot of trouble…. [Read More]
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]