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It can happen to anyone. You are going through the daily grind of life with family and work while living in your rental property. At the time, it made financial sense to live in a rental property in an effort to avoid homeownership risks.
There is no clear-cut answer, as every situation and every state is different. There are no federal laws regulating this issue. However, a few states and cities have passed legislation on landlords’ mold-related responsibilities.
Nowadays, you don't need to have long-term tenants to become a landlord. With websites like HomeAway emerging, you can rent your property by the night or week.
So, do you need and LLC for a Rental Property? The short answer is no. As with most financial questions, though, the short answer is never adequate.
As the vacation rental industry continues to boom, renting out your home to short-term visitors can be a very lucrative side business. In order to maximize your revenue, minimize vacancies, and increase your nightly or weekly rate, it's crucial to achieve 5-star ratings on the sites where your property is listed.
Sometimes a landlord needs to screen potential tenants who happen to be foreign nationals. However, it makes a difference whether the applicant is an individual or a business.
Did you know that South Carolina Legal Code 27 - 40 covers tenant eviction and the eviction process? This guide outlines the causes and the steps landlords should know before they begin the eviction process.
If you are listing a rental property and want to move through the process quickly, one thing you shouldn’t take off of your list is background screenings for new tenants. While this might seem like a hassle and is an extra expense, this can actually save you money in the long run.
The Landlord and Tenant Act of 1951 governs security deposits in Pennsylvania. This statute is what tells a landlord how much security deposit he can collect from a tenant, what he can do with the money once he has collected it and how soon he must return it once the tenant has vacated the property.
Naturally, as a landlord, you want to make sure you get the most rent possible for your property. However, it’s important to keep in mind that you must price your rental appropriately and in line with the local market.