Owning a rental property can be an exciting business opportunity, especially if you have responsible tenants who take good care of the home and pay their rent on time each month—but sometimes things don’t go as planned. You might find an amazing tenant, or you might end up with someone less than ideal. They may… Read more »
How to Help Support Tenants Who Are Victims of Domestic Violence
Each year, approximately 10 million people in the U.S. suffer from domestic violence. According to statistics from the Center for Disease Control, this amounts to nearly 20 people per minute being physically abused by an intimate partner. When you consider that around 37% of households are renters, domestic abuse at one of your properties could… Read more »
Can Landlords Install Surveillance Cameras at Their Properties?
Landlords put a lot of time and energy into their rentals, from finding tenants to keeping the property maintained. As the core of your business, it’s important to make sure your rental stays safe. One of the easiest ways to see what’s going on at your property at all times is to use surveillance cameras—but… Read more »
Why You Should Consider Switching to Online Rent Payments
Landlords Property Managers Contact TSCI According to numerous surveys, most landlords rank payment problems as one of their top concerns. Chasing down rent payments is a nuisance that wastes valuable time—it can also undermine the landlord-tenant relationship. Even worse, payment issues can put your rental income at risk and lead to tenant turnover and costly… Read more »
Should You Accept Rent in Advance?
Landlords Property Managers Contact TSCI On occasions, you may have a tenant who wants to pay their rent in advance. They might want to pay for a month or two, or even as much as the entire term of their lease. It may be tempting to say yes because of the guaranteed cash flow—but is… Read more »
Understanding VantageScore’s New Credit Scoring Model
Landlords Property Managers Contact TSCI VantageScore 4.0, the fourth generation tri-bureau credit scoring model is now available to lenders. This latest version of VantageScore will set the new standard for credit scores, so it’s important to be aware of what’s changing and how it could impact your score—as well as the scores of prospective tenants…. Read more »
Is Your Rental Considered an Investment Property or a Business?
Landlords Property Managers Contact TSCI Tax season is on the way! If you’re a newer landlord who rents a single-family home, apartment building, or vacation property, you may be wondering how to handle your taxes this year. To ensure you’re receiving the proper deductions, you’ll need to determine whether your rental property is considered an… Read more »
How to Successfully Raise the Rent and Avoid Losing Good Tenants
Landlords Property Managers Contact TSCI If you want a better return on your rental investments, it’s important to understand how to tactfully and effectively raise the rent—without rocking the boat with loyal tenants. Rising property costs, as well as turnovers, can eat away at your profits over time. Before raising the rent, you’ll need to… Read more »
Wear & Tear Vs. Tenant Damage: A Complete Guide for Landlords
Landlords Property Managers Contact TSCI When a tenant moves out of your property, there’s a good chance that they won’t leave it the way they found it. If there’s obvious damage, like holes in the walls, you’ll be able to deduct the cost of the repairs from their security deposit. However, landlords cannot retain any… Read more »
9 Steps for Turning Over Your Rental Property Quickly and Efficiently
Landlords Property Managers Contact TSCI In an ideal world, every tenant would be an amazing long-term resident, and you’d rarely have to worry about turnover. In reality, tenant turnover happens far too often. There are many details to worry about when transitioning a rental unit from one tenant to another, like reviewing your lease, providing… Read more »