Property damage is unavoidable. If you haven’t had to deal with destruction yet, you will at some point in your career. Some…
Tiny homes are all the rage right now. Measuring, on average, between 100 and 400 square feet, tiny homes have lowered barriers to home ownership by making housing more affordable and environmentally-friendly. But is there a marketplace for tiny home rentals? As these homes pop up across the country, more landlords are considering turning these… [Read More]
In addition to clarifying your expectations for rent, here are 8 of the most important things you can help your tenants understand:
Anyone can manage one rental property at a time. While it’s not always easy – and there’s a bit of a learning curve associated with it – it’s certainly manageable. But things start to get a little more challenging when you add multiple properties into the mix.
When you purchase a home, you have to deal with a lot, so when someone mentions the possibility of home warranty protection, you might feel confused. You already have to purchase homeowner’s insurance; why would you need the extra protection of a warranty?
Being a landlord is essentially a customer service job under a different name. You’re providing services in the form of a place to live, while your tenants pay you in the form of rent. Just as retail stores don’t want to lose a good customer, you don’t want to lose a good tenant at the… [Read More]
One of the more interesting aspects of being a homeowner is that you’re simultaneously focused on two different priorities. First off, you want to enjoy your home. So you choose a style you like, perform small renovations, and invest in home improvements that fit your lifestyle. But secondly, you’re focused on the next buyer. Any… [Read More]
When you have a vacancy at your property, you’ll be tempted to fill it as soon as possible. But in most cases, it’s better to carefully screen your tenants, so you can be sure you fill the property with a candidate who will pay you consistently, on time, and preferably for as long a period… [Read More]
Many people want to become a landlord because they view it as a somewhat hands-off position. You can hypothetically buy a property, find a tenant, and sit back while you collect rent payments and only respond to issues as needed.
Once you buy a property, there are a few things you won’t be able to change (or change easily). You can’t change the location of the property, or improve the school district, or reduce the crime rates. But there are many updates you can make to the property—sometimes exceedingly simple ones—that will attract more tenants… [Read More]