Important Things that Should Be Included in a Rental Lease Agreement
If you’re a rental property owner, it might be tempting to go online, download a basic lease agreement, and present it whenever you have a new tenant. A basic lease will include the monthly rent amount, the duration of the lease, and generic notations about the security deposit, pets, and maybe late fees. As a... Read More →
Why Inspections Are an Important Part of Property Management
If you’re the owner of a rental property or know someone who is, you might be aware of what a nightmare a bad tenant can be. Some rental owners assume that a tenant who regularly pays rent on time is a good one, only to discover when they move out that they’ve wrecked the place.... Read More →
What Rental Owners Need to Know About Tenant Security Deposits
Believe it or not, one of the most common legal disputes between rental unit owners and tenants occurs over security deposits. There are attorneys who specialize in such cases, and there are even non-profit organizations that champion tenants’ causes over security deposits. If you’re a rental unit owner, the easiest way to stay out of... Read More →
Questions to Ask Before You Hire a Property Manager
Acquiring a rental property might sound like a good way to generate passive income in the form of rent, but how much income you generate – and how passive it really is – can come down to one question: Who is going to manage the property? There are plenty of rental property owners who manage... Read More →
What to Do When Your Tenant Pays Rent Late
If you’re the owner of a rental property, there’s probably nothing that ruffles your feathers as much as when a tenant is late with the rent payment. When your tenants don’t pay on time, it can affect your ability to pay your own obligations on time. As a rental property owner, a single late rental... Read More →
Why Rental Properties Can Be an Excellent Investment
If you’re like most in the U.S. workforce, you have an employer-sponsored retirement account. You contribute a portion of your paycheck toward retirement, and your employer likely matches your contribution up to a certain point. And if you’re like most in the U.S. workforce, you’ve probably asked yourself: “Is it going to be enough?” The... Read More →
5 Ways a Property Manager Makes Your Life Easier
When you’re the owner of a rental property, it can seem as though you have a part-time job. Sure, you’re earning income, but you’re also spending time managing the place. Unless you hire someone else to manage the property, it’s not an entirely passive investment. Hiring a property manager means adding an expense, but is... Read More →
What to Look for In a Property Manager
If you’re the owner of a rental property or looking to become one, one of your first questions might be: “Who’s going to manage this property?” There are a couple of options, of course. You could manage the property on your own, signing tenants, collecting rent, and taking care of maintenance issues yourself. Or, you... Read More →
How to Determine Normal Wear and Tear Vs. Tenant Damage
If you’re a rental property owner, you expect your unit to be left in the same condition as when the tenant moved in. If you’re a tenant, you expect to receive your entire security deposit back if you’ve kept the place in good shape. Often, however, there are differences of opinion when it comes to... Read More →
How to Retain Good Tenants in Your Rental Property
If you’ve ever merely thought about becoming a real estate investor, it’s likely you’ve heard tenant horror stories. No owner of a rental property wants to learn what it’s like to have tenants from you-know-where. On the flip side, one of the best paths to a profitable rental is to keep it filled with good... Read More →
