Despite the fact that American families have been getting smaller in recent years, homes have continued to grow ever larger. Over the…
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One of your biggest responsibilities as a Houston landlord will be effectively managing and estimating costs. There are many costs associated with managing a property, from your monthly mortgage payments to ongoing repairs and maintenance, and how you estimate them will play into not only your bottom-line profitability, but also your effectiveness as a landlord…. [Read More]
You bought your rental property as an investment to generate income. When a tenant can’t pay rent on time, it can set you back financially. If you rely on rent to cover your mortgage, you’ll need to dip into your savings account and that’s never a good situation. Currently, the world is experiencing the effects… [Read More]
Rent collection is probably going to be one of your most gratifying responsibilities as a landlord. It’s a deceptively simple practice—all you have to do is collect money from your tenants at the first of the month (or whatever date is specified by your lease agreement)—and you’ll enjoy the influx of cash however you like.
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]
In a perfect world, tenants would pay rent on time and make no excuses when they’re late. In the real world, sometimes it doesn’t work that way.
Most outsiders don’t understand just how much stress comes with being a landlord. They assume it’s a flexible job where you ride around town, check in on properties, fix a doorknob or two, and chat with tenants. But what they don’t realize is that it’s actually a struggle to keep the entire operation afloat. Chief… [Read More]