As a real estate investor and landlord, your job is all about mitigating risk and maximizing return. The more you’re able to…
As a real estate investor and landlord, your job is all about mitigating risk and maximizing return. The more you’re able to accomplish these overarching goals, the more success you’ll experience. And while security deposits may seem like a small issue to outsiders, experienced landlords know just how much they impact both risk and reward…. [Read More]
The profitability of your rental property depends on your major source of income—rent from tenants. If all goes well, you’ll be able to collect rent, reliably, on a monthly basis, in excess of your ongoing expenses. You’ll easily meet all your ongoing costs, with a bit left over to serve as profit, all while your… [Read More]
You’ve probably seen ads offering reduced rent, free rent, or other discounts to tenants for the first month. Discounts are a central part of marketing and if you can offer a deal, why not?
Allowing tenants to smoke cigarettes inside your property can destroy your ability to rent or resell your property. Cigarette smoke sticks to walls, drapes, carpet, and even ceiling tiles in a form of sticky residue. This sticky residue, known as “third-hand smoke,” can linger for years unless it’s intentionally cleaned up.
Effective communication is the key to healthy landlord/tenant relationships. Effective communication is built on three main factors: transparency, honesty, and respect. With these three factors present, you’re more likely to resolve issues with your tenants before they grow into larger issues.
If you’re a landlord, you probably have a lease agreement or rental agreement for your tenants, outlining the rules and restrictions for the property, setting rent prices, and outlining a period of time during which the agreement is active. If a tenant breaks the lease agreement early by moving prematurely, they may face a penalty… [Read More]
As a landlord, time is your most precious asset. You get the same 24 hours in a day that everyone else gets. And assuming you get a healthy seven or eight hours of sleep each night, that means you’re left with just 16 or 17 waking hours in a day. Squandering even a couple of… [Read More]
As a landlord, you go through a lot of trouble and effort to find reliable tenants who will pay on time and in full. You have your own bills to pay, so you need your tenants to fork over their rent checks on time.