Planning to have tenants? Well, if so, you should know that screening tenants is an important topic for rental property owners to be familiar with. It is critical to select the best quality tenant if you want to have a long-term success. Moreover, as the property owner, developing a good screening process reduces the chance you will face future issues...
A little bit goes a long way Have you ever wondered if you could boost the profitability of your rental units? Try out these ideas and see if they’ll work for any of your properties. You might not be skyrocketing your income, but a few extra dollars each month can really add up over time, especially if you can implement...
Here’s how you can spend your budget wisely when upgrading your new rental property. You’ve just closed on a new investment property. Whether it’s a single-family house, apartment building, or commercial space, chances are, it needs some upgrades. But your budget won’t stretch forever, especially since you just spent a huge chunk of change purchasing the property. You face a dilemma:...
Good tenants can make your life as a landlord easy! Here’s how to find them. Imagine your dream tenant. They are clean and respectful of the property. They always pay on time. They don’t cause issues with neighbors, and they’re easy to communicate with. They’re not always badgering you with requests and complaints, but they do let you know (respectfully)...
Hiring a property manager is a decision that you may or may not make. Property managers aren’t required when dealing with rentals, however they can make some aspects of being a landlord much easier if you choose to hire one. Being a landlord entails multiple aspects and for some people it may make life easier being able to delegate...
When dealing with rentals, there are a few reasons to consider hiring a property manager as opposed to doing it yourself. If you are new to the title of landlord and are unsure about the inner workings of rental management, it may be a good idea to seek out assistance. When you have multiple units that you are trying...
Normally, you only hear about curb appeal in the context of homeownership or home sales. But curb appeal is just as important when you have a commercial building or a multifamily unit. Curb appeal can: Help you fill vacancies more quickly Improve the reputation of your properties Allow you to charge more for your units. If your building looks boring and...
Rent collection is an important part of being a landlord. Collection methods in the past were very limited, with only a couple of options to choose from. Now there are many different ways that you can choose to collect monthly rent payments. As with anything, each channel has its own advantages and disadvantages. However choosing one or two as...
Approving tenants for a lease can be a little bit of a process, with several steps you should follow. It all starts with the rental application, which involves gathering a great deal of information for you to review and verify. The purpose is to help you determine the chance of an applicant being a long term, reliable renter. The...
Once you acquire properties, clean them up and advertise their availability, your next step is to choose a tenant to occupy the rental. Whether you decide to hire a property manager to do this for you or you choose to do it yourself, you need to have a screening process in place. The reason for the screening process is...