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Owning rental properties invariably means that you are going to be dealing with complaints. Even if you have the nicest tenants on earth and you make a point of maintaining your properties on a regular basis, there will be complaints.
In a perfect world, you could have an applicant complete an application and believe that he or she is telling the truth. Of course, as we all know, we do not live in a perfect world.
As a rental property owner, you have many responsibilities. Among those responsibilities is ensuring that your properties are properly maintained.
Do you offer the amenity of a swimming pool at your rental property? Pools can be a great way to attract tenants, but they can also bring a significant amount of responsibility.
Is it really necessary to check an applicant's employment and rental history? I say that it is necessary. The operation of a rental business is a business just like any other.
One of the most common questions that rental property owners must ask themselves at some point in time is whether they should hire a property manager. There are certainly advantages to having someone else manage your rental properties, but there can also be drawbacks.
Are you keeping your tenants informed and engaged with newsletters? If not, you could be missing the opportunity to connect with your tenants and keep problems to a minimum.
Homeowners and real estate agents have quickly come to understand that when it comes to moving a home quickly, pictures sell.
Are you giving enough thought to your leases and the other legal documents used in your property rental business? If not, you could be putting your business at risk.
With the rising cost of living expenses, many people are considering either operating an income-producing property from the same property where they live or becoming a live-in landlord in their own multi-unit building.
Many times, as landlords, we often focus on what we need to do to keep our current tenants or how to attract the next tenant. While those activities are important, it is also vital that you pay attention to a few necessary tasks when you are between tenants.
Does it ever seem as though you and your tenants are on a different page? If so, the problem could be due to ineffective communication.
As diligent as you may attempt to be in the management of your property rental business, even the most common mistakes can cause significant problems and perhaps legal troubles.
If you are in the property rental business long enough, eventually someone is going to ask you to negotiate the rental price for one of your units. Some landlords are willing to negotiate, while others have a firm price with no wiggle room.
It's that time of year again. The time of year when you begin to scrutinize your expenses from the previous year and search for every deduction that you can possibly take on your rental properties.
As the old Kenny Rogers' song goes, you have to know when to hold 'em and when to fold 'em. In the case of tenants, you have to know when to hold them and when to let them go.
As an experienced rental property owner, one thing I can tell that makes a significant difference is the ability to be organized with paperwork. As you are probably well aware, there is a significant amount of paperwork that goes along with managing rental properties.
Ensuring you have a positive cash flow is one of the most important steps in succeeding as a landlord.