Owning rental properties can be extremely lucrative, but it’s not entirely without risk. Tenants can and do, bring lawsuits against their landlords. Many times, these lawsuits can be avoided by following some property management best practices. Here are a few tips on how to avoid some of the most common situations that cause tenants to… Read more »
How to Handle a Former Tenant’s Mail with No Forwarding Address
At some point, most landlords will probably encounter a situation where one of their rental properties still receives mail for a former tenant. It can be frustrating, particularly when the previous tenant didn’t provide a forwarding address. So, how can you make sure the mail gets to the right person – and stop it from… Read more »
Investment Opportunities Arise with the Build-to-Rent Market Explosion
A decade ago, the foreclosure crisis shook the housing market. Investors quickly flooded in, buying millions of distressed homes with the intention of turning them into lucrative rental properties. They transformed what had been a small, family-owned and operated market into an official large-scale formally managed asset class. And it shows no sign of slowing…. Read more »
Tips for Property Managers on How to Handle Emergency Maintenance
As a property manager, it’s essential to have a quick response to emergency maintenance. Taking too long to respond to maintenance complaints can be damaging to both your tenant and client relationships. Tenants may become frustrated, while a slow response could end up costing your client thousands of dollars. Missing an emergency could also make… Read more »
Nine Costly Property Management Mistakes to Avoid
There’s no doubt being a property manager requires patience and commitment. Communicating with tenants and staying on top of repairs takes up a lot of time, but it can also be very rewarding. Like any industry, mistakes can happen. Unfortunately, some of them can end up costing you a significant amount of time and money…. Read more »
How to Prorate Rent and Why it’s Important
If you have a tenant that’s moving out – or in – halfway through the month, chances are they won’t want to pay for a full month’s rent. Nor would it be fair to expect that of them. Instead, it’s best to keep your rent due dates consistent and be considerate to the tenant by… Read more »
How to Lawfully Evict a Tenant Without a Lease
Working in real estate brings about many unique challenges that can be difficult to resolve without previous experience. Housing laws frequently change, and tax codes can be intricate and difficult to navigate. One problem that most landlords won’t need to deal with is having a tenant without a lease or rental agreement. However, under special… Read more »
How to Prepare Your Property for a New Tenant
If you have an upcoming move-out, it can feel overwhelming to get the property ready for a new tenant. Thankfully, with a little organization, it doesn’t have to be a lengthy process. If you make a list, schedule each task, and start early, many of the steps can be taken care of before your current… Read more »
How to Handle a Tenant Who Won’t Leave After Eviction
Eviction can be hard on everyone involved – tenant and landlord alike. Not only is there a lot of paperwork involved, but the process can be long and draining. To make matters worse, there are occasions when landlords or property managers are faced with a tenant who won’t leave. This can be extremely frustrating –… Read more »
What You Need to Know About Squatter’s Rights
Squatter’s rights have become a popular topic over the past few years, especially with the founding of organized rehousing groups like Take Back the Land. Squatters are defined as any person who chooses to live in a property or piece of land that they don’t have a legal right to occupy. Not surprisingly, many property… Read more »