Landlord Tips
Buying Rental Property: What Does “As Is” Really Mean?
By Teresa at 30 July, 2010, 5:58 am
When a property is advertised to be sold “as is,” it can mean a great bargain, or a barrel full of trouble. But is the “as is” designation always a deal-breaker? Not to many savvy rental property investors. “As is” simply means the sellers don’t guarantee the property’s condition and won’t be making any repairs. [...]
Read More >>Closing the Lease Deal: How to Turn a Prospect into a Tenant
By Teresa at 27 July, 2010, 4:06 am
According to MPF Research, the apartment rental market is showing signs of improvement, as the vacancy rate declined from 8.2% to 6.6% in the first half of 2010. That’s good news for landlords. Perhaps you’re already seeing an increase in the number of prospective tenants viewing your rental properties. If you’d like to fill your [...]
Read More >>3 Reasons to Retain a Tenant in Your Rental Property
By Teresa at 22 July, 2010, 11:25 pm
Regardless of the economy or the rental market, it is always a good time to retain your tenants. To keep tenants from moving out, some landlords have been offering incentives like free cable and even large-screen TVs to go with them. But is it really worth it to invest that kind of cash into keeping [...]
Read More >>Property Management Tips: Staying Ahead of Maintenance
By Teresa at 16 July, 2010, 3:16 am
Whole volumes could be written about the difference between “damage” and “wear and tear;” but every landlord knows that tenants can be hard on a rental property. Most landlords have walked into a rental unit for a move-out inspection and been shocked at the damage they discover. Don’t fall into the habit of performing all [...]
Read More >>Advertising Rentals: Include the Walkability Rating
By Teresa at 12 July, 2010, 4:26 am
When it comes to advertising a rental property, most landlords are sure to include the basics: the number of bedrooms and bathrooms, any included appliances, and of course, the area of town or neighborhood it’s in. But you might be surprised to hear that potential tenants also want to know about an area’s walkability rating. [...]
Read More >>When Tenants Cancel Required Renter’s Insurance
By Teresa at 28 June, 2010, 12:15 am
Lots of landlords and property management companies require tenants to hold renter’s insurance. It’s a good idea for these reasons: Fewer hassles for landlords if disaster strikes Provides a layer of protection for the rental property owner Peace of mind that tenants are protected in case of fire or other accidental loss Often, only renter’s [...]
Read More >>Using Mediation to Solve Landlord/Tenant Problems
By Teresa at 24 June, 2010, 4:30 am
Landlords and tenants are in a business relationship. But unlike typical business transactions, the emotions of landlord/tenant disputes tend to run higher. When a tenant is abusing your property, ignoring your rules, or just not paying you to live in your rental house, it’s natural to feel angry. It’s not always conducive to solving the [...]
Read More >>5 Reasons to Always Use Rental Applications
By Teresa at 22 June, 2010, 1:02 am
If you’re a landlord who is not using written rental applications 100% of the time, here are 5 reasons why you should! The practice makes everyone more comfortable. Perhaps there was a time when a handshake and a handful of cash were all landlords needed to start a lease. But in this era of liability, [...]
Read More >>More Tips on Renting to Tenants with Pets
By Teresa at 15 June, 2010, 3:05 am
In this challenging market, many landlords are allowing pets in their rental units to gain a competitive advantage and fill vacancies. We’ve talked about various aspects of renting to pet-owning tenants before, but here are some additional considerations for landlords: 1. Fleas happen. In some areas, fleas are a huge problem; if animals go outside, [...]
Read More >>A List of Landlord “Don’ts”
By Teresa at 4 June, 2010, 5:16 am
Take a look at these true landlord stories—and avoid repeating their mistakes. These are definite landlord don’ts! George informed his landlord that he lost his job and can’t afford the apartment any longer, so he needed to break the lease and move. The landlord told George he’d be responsible for the rest of the rent [...]
Read More >>