As a landlord, you probably rely on getting your monthly rent payments on time in order to make ends meet. But what should you do if your rent collection day has come and gone, and you still haven’t been paid? This is a scenario that worries new landlords and industry veterans alike, and it can… Read more »
Should Landlords Ban Guns at Their Rental Properties?
With the rise of gun violence in schools and public places, should landlords consider banning guns at their rentals, too? This is a question that doesn’t have an easy answer. In some cases, it’s a matter of what the state law says and in others, it’s a matter of personal preference. Before making a decision… Read more »
Does Rental History Show Up On a Credit Report?
Credit reports offer invaluable information to base your rental decisions on credit scores, tradelines, income-to-debt ratio, and much more. One thing you won’t find on a credit report, however, is an applicant’s rental history. Since landlords and property managers aren’t creditors, they don’t automatically report tenants’ payment history to the consumer credit reporting bureaus. What’s… Read more »
How to Read a Tenant Screening Report
For most landlords, finding great tenants is their top priority. Once you’ve determined the criteria for your ideal tenant, the next step is to screen applicants. Tenant screening is essential for finding the right tenants, so it’s important to know how to interpret the reports you receive. Here are some tips on how to read… Read more »
How to Screen a Commercial Tenant
You likely understand the importance of screening potential tenants for a residence, but many landlords don’t realize they should also be screening commercial tenants. Although it may seem like (as business owners themselves) commercial tenants would be more responsible tenants than residential tenants, this isn’t always the case. Unfortunately, there is still risk involved with… Read more »
Why Should You Request Proof of Income from Rental Applicants?
Proof of income is often required by experienced landlords; although it may feel like an invasion of privacy, requesting proof of income is an essential step in the application process that can help you decide whether a potential tenant is a good fit for your property. Here’s a look at which documents are considered proof… Read more »
What to Include in a Tenant Pet Agreement
Many landlords have strong feelings about tenants keeping pets in their rentals. Some landlords are against having pets on the property because of the potential for damage or liability issues; some may be willing to negotiate their pet policies on a case-by-case basis. Other landlords may be pet lovers themselves or recognize how allowing pets… Read more »
Rental Rate Increases Are Slowing Down—And the Trend Is Expected to Continue
The rental housing market is seeing a slowdown, as rent growth has dropped over the past several months. According to Jay Lybik, National Director of Multifamily Analytics, CoStar Group, “After four quarters of supply additions outpacing demand, the market is shifting with national asking rents declining over the last 90 days by 0.4%.” During the… Read more »
Are You Ready for Fall?
Fall is officially here, and cold winter weather won’t be far behind. Since winter temperatures can take a toll on buildings in many parts of the U.S., now is an ideal time to take care of maintenance at your rental properties. Performing basic maintenance now will ensure you’ll spend less time (and money) on roofing,… Read more »
How to Begin Building an Emergency Rental Fund
Whether you’re a homeowner or a landlord, it’s always wise to have an emergency fund to pull from when unexpected expenses come up. Most financial advisors recommend property owners save at least 3 – 6 months’ worth of expenses to cover maintenance, repairs, mortgage loss of income, and other financial concerns. However, only around 39%… Read more »