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During the course of your property management activities, you may feel the impulse to raise the rent at one of your properties. There are many good reasons to do this, such as to cover new expenses like higher property taxes or HOA fees. You may also simply wish to increase your profits by keeping your

Not all tenants complain. In fact, many of your best tenants will remain content indefinitely: continuing to pay rent and reaching out only when the house or apartment clearly needs routine maintenance or a small-scale repair. But some tenants will complain on a semi-regular basis. If you’re unlucky, you might end up with a tenant

Tenants should be allowed to have guests stay a night or two, but long-term guests can pose a problem. Sometimes it’s just a friend or relative who’s visiting from out-of-town, but a long-term guest may include someone who has no intention of leaving. Technically, at some point a long-term guest becomes a tenant. What started

Late fees are designed to encourage tenants to pay rent on time. Though a late fee won’t make any difference among tenants who genuinely don’t have the money, there are other reasons tenants pay late. Late fees can be a deterrent for those situations. Why would someone not pay the rent on time when they

A lease agreement is the central tool in every tenancy. It gives you the legal authority to hold your tenants accountable for their behavior both outside and inside the courtroom. Do you have the following crucial policies in your standard lease agreements? 1. Notice requirements to terminate the tenancy When you accept a qualified tenant,

Accepting a bad tenant will inevitably lead to problems. It might take several months for issues to surface, but you may rest assured, they will. There’s no guarantee you can avoid every potentially bad tenant, but most can be readily avoided with the proper due diligence. That means a thorough tenant screening. If you don’t