Do you have a disproportionately high turnover rate? Do good tenants seem to leave every time a lease agreement expires? Do you seem to have to work harder to retain tenants than other landlords you know in the area? If these issues sound familiar, then you may need to reconsider your approach to property management and how you’re treating your tenants…. [Read More]
You have many factors to consider when you seek to profit from a rental property. You need to purchase in a neighborhood that will appreciate in value, you have to treat your property well, and you must set a competitive, yet profitable rental rate for your tenants.
When you’re looking to make financial ends meet, renting a spare bedroom in your home or apartment can be a wonderful opportunity. It can help offset expenses, pay the mortgage, and justify your investment.
With that being said, you should approach the opportunity to rent out a spare bedroom with caution. Any time you’re bringing someone else into your home, you need to be aware of the potential risks and consequences…. [Read More]
When most people think about landlording, they have this picture of low-income properties with outdated features, broken appliances, and tenants who don’t pay their rent. But there’s another end of the spectrum. Whether you’ve had any firsthand experience with it or not, there is such a thing as a high-paying tenant who appreciates fine taste and pays on time. But how do you attract them? That’s a question we’re going to answer in this article…. [Read More]
When we think of snowbirds, most people automatically associate the term with Florida, conjuring up a vision of retired citizens of the north flocking to warmer climes for the winter. But why Florida? Certainly, our southernmost state is not the only place in the country with pleasant winter weather. Texas, as we know from experience, can be gorgeous during the winter…. [Read More]
Open houses aren’t just for individuals looking to sell their homes. As a landlord, you can also host open houses to attract potential renters. But if you’re going to host an open house, you need to do more than make things look pretty. Buying flowers and baking cookies will only get you so far. You need to engage attendees in order to earn a return on your time…. [Read More]
As a landlord, there are plenty of scary words. Terms like “water leak,” “late payment,” and “broken” can strike fear in even the most experienced landlord. However, is there any word more painful than “vacancy?” Water leaks can be fixed. Late payments can be tracked down. Broken appliances can be repaired. But vacancy? There’s not always an easy solution for that one…. [Read More]
Landlord-to-tenant relationships can be challenging, to say the least. On either side of the equation, the dynamics can be hard to gauge. What does a landlord do to keep the relationship with the tenants professional but not be domineering? And what can a tenant (or prospective tenant) do to charm the landlord into renting out his or her space?… [Read More]
If you’re operating as a landlord in Katy, you have to make your rental property(ies) a great place to live. That requires special consideration for tenants of all ages and circumstances…. [Read More]
One of the biggest challenges businesses face is setting the right price for their rental property. It’s also one of the most important aspects, but pricing a property or unit isn’t like selling something on eBay. It doesn’t go to the highest bidder, and if the price is too high, you’ll never find a renter. On the flipside, pricing it too low will make the quality look cheap and will make it difficult to turn a profit. For that reason, much of the success or failure of your property hinges on your ability to price it correctly…. [Read More]