Buying Rental Property: What Does “As Is” Really Mean?
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. [...]
Categories: As Is Property, Buying As Is Rental Property, Buying Rental Property, Landlord Tips, Rental Property Purchasing Tags:
Closing the Lease Deal: How to Turn a Prospect into a Tenant
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 [...]
Categories: Landlord Tips, Prospective Tenants, Rental Property Management, Rental Property Tips, Tenant Screening & Background Checks, Tips for Leasing Tags:
3 Reasons to Retain a Tenant in Your Rental Property
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 [...]
Categories: Housing Trends, Landlord Tips, Rental Property Management, Rental Property Tips, Retaining Tenants, Tenant Management, Tips for Tenant Retention Tags:
Property Management Tips: Staying Ahead of Maintenance
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 [...]
Categories: Landlord Tips, Rental Property Maintenance, Rental Property Management, Repairs to Rental Property Tags:
Advertising Rentals: Include the Walkability Rating
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. [...]
Categories: Advertising Walkability Ratings, Housing Trends, Landlord Tips, Rental Property Advertising, Rental Property Management, Walkability Rating, WalkScore.com Tags:
When Tenants Cancel Required Renter’s Insurance
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 [...]
Categories: Landlord Tips, Landlord/Tenant Issues, Requiring Renter’s Insurance, When Tenants Cancel Renter’s Insurance Tags:
Using Mediation to Solve Landlord/Tenant Problems
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 [...]
Categories: Landlord Tenant Lawsuits, Landlord Tips Tags:
5 Reasons to Always Use Rental Applications
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, [...]
Categories: Landlord Paperwork and Forms, Landlord Tips, Landlord/Tenant Issues, Lease Applications, Rental Applications for Prospective Tenants, Tenant Background Screening, Tenant Credit Checks, Tenant Criminal Background Check, Tenant Rent Applications Tags:
More Tips on Renting to Tenants with Pets
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, [...]
Categories: Landlord Tips, Rental Pet Policies, Rental Property Management, Renting to Tenants with Pets Tags:
A List of Landlord “Don’ts”
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 [...]
Categories: Landlord and Tenant FAQs, Landlord and Tenant Issues, Landlord Don’ts, Landlord Don’ts Renting and Leasing, Landlord Tenant Lawsuits, Landlord Tips, Rental Property Management, Renting and Leasing Tags: