The best property managers know how to provide exemplary service to all tenants, regardless of special circumstances. With senior housing on the rise, and an aging Baby Boomer population turning to rentals, property managers should be well-versed in the laws regarding housing for people with disabilities. The Americans with Disabilities Act (ADA) became the law […]
More and more Americans are migrating back to urban areas after a decades long trend of settling in the suburbs. According to Census Data, 2.3 million more people moved into one of the country’s 381 metropolitan areas in 2013 than during the previous year. As jobs and economic activity continue to grow faster in urban […]
When you think about investing in a rental property do you dream of wide open spaces, big red barns, and calling the cattle home? Investing in a rural property or tract of land might be the right choice for some investors, but there are pros and cons about purchasing property somewhere with more trees than […]
Love them or hate them, the Suburbs are an integral part to the American housing market, and despite the surge in urban living that accompanied the housing recovery, suburban sprawl and the dream of single-family living is far from extinct. If you’re considering the purchase of a single-family rental in a suburban market, here are […]
Are you the right kind of landlord for a real estate investment in a college town? You’ll need more than school spirit to profitably house college students, but investing in a college town may be a perfect choice for the active landlord who can handle a certain amount of wear and tear due to youthful […]
Whether you own a large multifamily property management company or simply rent out a single investment property, there are tax deductions waiting for you to take advantage of. Most landlords realize that some of their property management expenses are deductible, many are leaving money on the table by failing to use tax rules to their […]
Last time I lived in an apartment complex, my landlord asked me to do something weird. He called out of the blue and said “Hey I know this is kind of a weird request but I’ve had some noise complaints about your unit and I think this is the best way to handle it.” My […]
We’ve already covered some reasons why renter’s insurance is a good idea for residents and property managers alike. But how do you convince your tenants to pay for and retain a policy that many people assume is expensive and unnecessary? Be a myth buster Many renters have more than a few misconceptions that keep them […]
We’ve talked about the benefits of instituting smoke-free policies in your properties and covered the specific reasons why smoking tobacco in a rental unit lowers the quality of life for residents and costs more money during turnover. As the percentage of Americans who smoke cigarettes continues to decline, many former smokers to turn e-cigarettes for a […]
Smoking has fallen out of fashion in the U.S. The number of Americans who smoke is at the lowest rate in over sixty years. According to the CDC only 18.1% of American adults smoke cigarettes, down from 41% in 1940 and 26% in 2000. Smoking is prohibited in indoor public spaces in 28 states, and […]
Section 8 Housing Program; Good for Landlords? Having your property approved for Section 8 Housing can seem to be a lengthy and somewhat stressful process. There is so much paperwork and inspections to deal with, it can almost seem like it’s not worth it. But just like any other venture, there are pro’s and con’s […]
One of the worst hazards to navigate happens before a tenant even signs a lease: rejecting a rental application. If your pre-screening process is pretty stringent, this may not be as much of a problem- but, every now and again, it happens and handling it the right way is pretty important. Everyone deals with this […]
When I mentioned writing an article on Surviving The Turn, most people had visions along these lines: Or maybe even: Unless, of course, those people worked in property management. Surviving the Turn means something very different to most people than it does us, doesn’t it? Each and every year- whether you are a property manager, […]
Being a property manager means that you handle quite a number of individuals money. Rental payments, down payments, bill finances, and security deposits are all yours to maintain and keep track of. While opening separate bank accounts for each property may seem like an easy idea, balancing just one banking account can be a hassle. So why attempt to keep 20 or 200 of them balanced singularly? That’s where trust accounting comes in.
Working in single-family property management seems like it’d be easier: but it brings with it a lot of issues. When I speak to landlords and property managers, one of the bigger initiatives seems to be finding rebates and incentives towards improving the energy efficiency of the properties.
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 […]
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?
Earlier, we talked about landlords and tax time, but did you know that there are sometimes special tax issues and situations for property managers? It’s that time of year again- end of the fiscal year and if you’ve been paying people to do yard work or take care of other things around the properties, odds are, you need to send out Form 1099.Though we, or anyone else is unable to give you tax or legal advice, and you should always consult your tax adviser, there are a few things that you need to know about 1099 for property managers.
You probably already know that using Craigslist, Zillow, and Trulia are effective ways to advertise your rental listings. However, how you present your property on there will make a big difference. You want your ad to be effective in attracting the kind of tenants you want, while also saving you some time in the prescreening process.