Tenant screening is common for landlords and property managers of single-family homes and multi-family homes, but what about mobile home parks? Although mobile home parks are somewhat unique, tenant screening and verification are equally important to ensure that you have reliable, responsible tenants. What Are the Unique Considerations for Mobile Home Parks? Mobile homes aren’t… Read more »
Important Steps to Take When Vetting Rental Applicants
Although interviewing applicants for your property may feel daunting, it’s an important step in finding the right tenant. Finding a tenant you have a rapport with from the beginning and who meets your rental criteria can make the whole rental experience easier on everyone and helps to ensure your relationship remains mutually respectful. So, which… Read more »
What Landlords Should Know About COVID-19 Tax Relief for the 2020 Tax Year
COVID-19 has amplified many things about our society, one of which being how interconnected landlords and their tenants are. When tenants are struggling to pay rent, it directly affects your livelihood. The Coronavirus Aid, Relief, and Economic Security Act (CARES) Act, passed in March 2020, did provide some tax relief for small landlords, but what… Read more »
Can a Landlord Be Held Liable for Crimes Committed on Their Rental Property?
All property owners are required to protect their tenants from criminal activity to some degree. Not only are landlords liable for criminal acts committed by their tenants, but they also have a responsibility to protect the neighborhood from the illegal activities of strangers. With that in mind, landlords need to take steps that not only… Read more »
Flushable Wipes: A Potential Plumbing Nightmare in the Making
Flushable wet wipes have become increasingly popular over the past decade or so. Marketed as “plumbing and septic” friendly, it’s easy to see why many consumers have embraced the hygiene product –especially when toilet paper shortages affected much of the nation last spring. Despite their name and how they’re marketed, it’s important to know that… Read more »
Refresh Your Knowledge of Fair Housing Laws
As a landlord or property manager, you’re likely familiar with the Fair Housing Act of 1968 (FHA). The FHA was created to ensure anyone searching for a place to live has a fair chance at finding one, without fear of discrimination based on their protected class. Although it wasn’t the first law of its kind… Read more »
Tips for Maintaining Your Rental Property’s Roof and Reducing Roofing Costs
The roof is your rental property’s first line of defense against the elements, but it’s also arguably one of the most vulnerable parts of the building – and one of the costliest to replace. However, just like bringing your vehicle to the mechanic regularly for maintenance will lower your overall repair costs, roof maintenance can… Read more »
8 Tax Breaks Landlords May Be Overlooking
Tax season is here again, so it’s an ideal time to review several important tax breaks that you could be overlooking with your rental housing properties. Here’s a look at some common tax deductions you may be able to take advantage of this tax season; please note that this is for informational purposes only and… Read more »
When is it Valid to Decline a Rental Application?
Renting to tenants is risky, so it’s understandable that you want to choose the best applicants when filling a vacancy. Tenants can cause property damage, hurt your reputation, or even potentially sue you for damages, which is why it’s important to screen your applicants before extending an offer. However, some landlords can get a little… Read more »
Is My Rental Property Considered a Business?
Whether you’re the landlord of a single-family home or you own a multi-unit apartment building, it’s important to understand whether your rental is considered an investment or a business because the distinction can have important tax consequences. If you’re considered a business owner, you’ll receive valuable tax deductions that don’t apply to investors. With tax… Read more »