As a landlord or property manager, you’re well-aware of how important it is to screen your tenants. This becomes more complicated when you’re considering renting to family or friends. When vetting a stranger, you can rely on the information from the screening to make your decision. Objectivity is more difficult when it comes to vetting… Read more »
Posts Categorized: Uncategorized
How to Get Chronically Late Tenants to Pay Their Rent on Time
New tenants can be a bit of a gamble. Someone may have an ideal rental history, but there’s no way to account for changes in financial status or other factors that could affect their future ability to pay rent. The only way to know for sure how reliable they’ll be is to give them time… Read more »
Should You Have Active Shooter Insurance for Your Multifamily Property?
The deeply troubling trend of increasing gun-related violence is difficult to ignore. The wide range of places where these incidents occur – from schools and churches to night clubs and workplaces – suggest that they can happen anywhere. Unsurprisingly, this trend has many business owners nervous. It’s not uncommon for the families of victims to… Read more »
How to Create and Use a Security Deposit Deposition Form
Every landlord understands the importance of collecting a security deposit to protect their investment property. In many cases, tenants are respectful of the property, so you won’t have to worry about withholding the deposits. However, what happens when you have a tenant who has caused damage to the property? How do you handle withholding some… Read more »
Can Landlords Prohibit Guns in Their Lease Agreement?
Gun ownership has become a particularly heated topic over the past decade, which prompts the question for many landlords: can you add a clause into your lease that restricts or prohibits firearms? Unfortunately, the answer isn’t clear-cut. In some circumstances, the answer may be dependent on what your state law says. In other situations, it… Read more »
It’s Official: California Rent Control Bill Signed into Law
Rent control is here to stay in California – at least until 2030. On October 8, 2019, California Governor Gavin Newsom signed the Assembly Bill 1482, which caps annual rent increases at 5% and imposes rules on just cause eviction. The legislation is meant to address the rising cost of housing and increasing homelessness affecting… Read more »
How to Prevent Lawsuits
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 »
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 »