In 2019, New York state passed a law that effectively banned the use of eviction reports for screening rental applicants. The law, which is part of The Housing Stability and Tenant Protection Act of 2019, penalizes rental property owners who deny applicants on the basis of either a pending or prior eviction litigation. The law… Read more »
An Overview of State Rent Control Laws
With housing shortages, rising rent prices, unemployment due to COVID-19, and other issues, rent control has become a hot topic this election year. As a refresher, rent control (also called rent stabilization) caps a tenant’s rent at a specific dollar amount or limits the percentage the rent can be increased by after the tenant’s lease… Read more »
What to Do When Your Tenant Files for Bankruptcy
Eviction is one of the worst-case scenarios for many landlords. It can be a long, taxing process that slowly eats away at your time and money – not to mention the impact it has on an emotional or mental health level. Needless to say, eviction is a situation that most landlords want to avoid whenever… Read more »
10 Tips for Improving Your Relationship with Your Tenants
Do you have a good relationship with your tenants? Or do you find yourself keeping them at a distance as much as possible? Many landlords underestimate the importance of their relationship with their tenants, not realizing that improving relations can make their job easier and bring greater success. While the tenant/landlord relationship is a professional… Read more »
Which Credit Scoring Model Should You Use for Tenant Screening?
Credit scores are one of the best ways for rental housing professionals to gauge an applicant’s financial competency and reliability. As you probably know, the closer the score is to 850, the easier it is to secure loans, lock in lower interest rates, and find housing. That’s all from a consumer standpoint, but what about… Read more »
Tips and Best Practices for Renting a Room in Your House
You may not realize it but when you decide to rent out a room in your house, you’re more than just a roommate; you effectively become a landlord. While the rules and regulations regarding roommates can vary based on your location, it’s important to know the details of being a landlord in order to make… Read more »
Rent Concessions During COVID-19: A Guide for Landlords and Tenants
Like most of the country, California has seen significant economic impact due to COVID-19. The executive orders from Governor Newsom have required many businesses to close or reduce their operations. Many citizens are still out of work; as of July 2020, the state unemployment rate was 13.3% – down from 16.4% in April. In addition,… Read more »
Tips for Adjusting Your Operations as States Lift COVID-19 Orders
As states have begun to lift stay at home orders, online searches for terms like “apartments for rent” have started to increase. With many renters now on the hunt for new housing, there are a few things you should start doing to prepare. First, it’s strongly recommended that you read through the Centers for Disease… Read more »
Roommates: A Guide for Rental Housing Professionals and Renters
For many Americans, roommates are a necessity. High costs of living coupled with low wages and debt have made it difficult for people to meet all their financial responsibilities in many areas of the country. Unfortunately, this trend shows no sign of slowing; if anything, it’s likely to increase with the economic fallout from job… Read more »
Streamline Your Rental Tours with the Best Virtual Tour Apps
Virtual tours have grown in popularity over the years; thanks to the development of smartphone capability and apps, property managers and landlords can show off their rental properties to many prospective tenants at the same time. Renters also benefit, as they can search for housing and view the properties they’re interested in without ever leaving… Read more »