While a roof is one of the biggest protection features of any home, it is also one of the most neglected. Rooftops receive a constant amount of pressure from storms to extreme weather, weight of humans walking about from cleaning out gutters, and trees and branches falling on them. Lack of roof maintenance may be […]
What features do Americans consider when it comes to describing preferable homes? IKEA thought it best to ask this of 4,000 Americans, between ages 25-54 with an income of $35k, to discover what they described as good homes based on their living habits. It is vital to know what people look for in prospective homes […]
Get ahead of the competition in the rental market by improving your selling skills. A little extra sales training can help beef up your lead-to-lease ratio, especially with the competition of so many housing options. Improve your sales, close more leases, and improve your rental income this year with these helpful tips. Enlighten your Audience […]
Dealing with the security deposit has always been a long hassle between landlords/property managers and tenants. Security deposits don’t always have to be a problem, this post gives advice to anyone who operates in the world of security deposits for rental properties and addresses some commonly asked questions. Know your State Laws It is important […]
Every rental property manager has encountered the problem of tenants leaving your property in what you would consider less than ideal shape. A good way to avoid this issue would be to create a checklist for your residents to know what condition the rental should be left in after their departure. When Tenants Move Out […]
What could be more appealing than an apartment building with the comfort of having businesses, stores, and offices right below it? A mixed use property offers exactly that. Offering simple and close commutes to work or the grocery store will likely keep your building occupied but can also add to the risk of being the […]
It’s a well known fact- if you want to save on your bottom line, you keep your tenants. One of the downsides of working in the rental industry is that it can ebb and flow quite a bit, causing a gap in between renters or tenants. With more and more places offering better incentives to move into their complexes, how do you improve your own tenant retention? What’s making them stay?
Hopefully, where you live, the time for spring cleaning is upon you. In many parts of the US, the weather’s still cold, even though it is March. During this time of year, you really find that the “property” aspect of property management becomes key. You may be looking to move some dead tree limbs, get rid of leaves and other debris, aerate your lawns and plant flowers. However, what if you’re looking for a much more efficient way to do your spring cleaning?
According to Freddie Mac’s recent report, the multifamily market has been showing signs of things moving towards better times. As a matter of fact, many economists credit the conditions of the multifamily market with leading the way in terms of recovery in a broader scope macro economy.
Pet abandonment is a steadily rising problem across the US. Though most pet owners have been proven to be responsible, every now and again, there are the bad apples that spoil the whole bunch. Unfortunately, a tenant who will abandon a property will also often abandon the pet along with it. Though most states have laws that require you hold on to a tenant’s possessions even if they’ve abandoned the unit- the laws regarding pet abandonment are entirely different.
One of the biggest complaints you’ll see out there about property management is that it can be hard to get people to pay rent when you ask for it. While reminders and the like can make it so your tenants don’t forget- have you ever thought about just being more accessible and making it easier for them to pay in the first place? Offering more than one way to pay is definitely a big boost to making sure things get paid on time, all the time.
For most landlords, the idea of a multifamily apartment complex is a huge investment. If you’ve been thinking about taking it a step further, this is probably where your thoughts go. In terms of long term investments, multifamily is definitely the way to go- they’re an impressive source of monthly income but also, they offer a wealth of tax incentives. The problem is, it’s not the same as if you were still working in single family. Even getting the mortgage is a bit different.
The end of the winter that seemed like it wasn’t going to end seems to be in sight. While we are all hoping that the polar vortex has gusted its last, it may be a good time to consider what you’re going to do about springtime landscaping. I talked a little bit about different things you can do to make your multi family properties more “summer fun” friendly, but there are some basics when it comes to fixing up in a more all-purpose way.
Texas capital city has much to offer those that move to it. Austin Texas is generally known for being host to a varied and flourishing local music and arts scene and also carries a rather fun unofficial slogan: Keep Austin Weird.
There are two interesting and oppositional trends in rental housing markets across the country. I began researching this somewhat in earnest after I noticed something on Craigslist while looking for rental properties in Saint Louis. Now, according to the Humane Society of the United States, 164 million households in the US have at least one pet. Of those, roughly 83 million people own at least one dog, 95 million own a cat, and even though this sounds like a lot, there are still yet 3-4 million shelter euthanizations a year.
Next up in my local places series, I’m exploring Georgia laws around late payment of rent. I have spoken to a number of landlords and property management professionals about the most common questions they have. Probably the second most asked question is: what do I do if I have a tenant that needs to pay late? This is not a problem that is isolated to Georgia, so if you’re a landlord in another state, always check your state laws. The legal process varies from state to state.
I’ve been working on a series of environmental factors that you and your tenants need to know about. From asbestos to bedbugs, there are many things that can cause a lot of big problems. Carbon monoxide is one of the more common, but also, one of the easiest to avoid. As with other environmental issues, landlords and property managers have certain obligations to protect tenants.
As I’ve mentioned before, when you’re screening tenants, rental history and references should make up a large part of your overall decision. However, this also brings up another thing that landlords and property managers alike should consider. What happens when it’s time for you to give a reference for a prior tenant? There are things you should and should not say, but also, there are some things that you need to be very careful in how you say or face potential legal trouble.
If you have a rental property near a college, you may want to consider customizing your lease to sort of cater to that niche and also protect your assets. Renting to students has a plethora of advantages: for one thing, you don’t really have to advertise a whole lot as word of mouth is key in this demographic. These properties are also considered fairly prime locations and you may have a high turnover, but you probably won’t see your units sit vacant for very long.
If you’re planning to rent out your home, proceed with caution as you interview prospective tenants—a bad renter could ruin the experience of an income property. Watch out for these seven red flags so you don’t get caught in an unfortunate rental situation. Your tenant can’t prove employment. Check tenant employment by asking for a […]
Most people know the old mantra, location, location, location.
So, it usually isn’t a stretch to open a blog post about figuring out where you’re going to put your investments when looking into rental properties. Above and beyond any other considerations you may have- location is everything. In order to really see a good return on that investment, you have to find properties with location based advantages. If you do a little searching around, the tips for renters will give you a pretty good idea what they want and how they’re finding out about these rentals. Here are a few of the key ones that your potential tenants are looking for: