The first rule of real estate is location, location, location. A successful rental property is in a desirable location, whether it’s for long-term or vacation rentals. Here’s what else you should know if you’re considering buying a rental. Invest in Property Management Sometimes you have to spend money to make
Maintaining a positive relationship with your tenants can make a big difference when you’re a landlord. They rely on you to provide housing and you rely on them to take care of your property. Dealing with tenant issues can be time-consuming but if ignored can put you into a lot
You can have the perfect property in the best location, but if you don’t have great tenants, none of that will matter. You need honest, trustworthy tenants that will not only pay their rent on time, but that will also properly care for your dwelling. So how do you go
Looking for a smart way to make a passive income in this uncertain time? Rental properties are an excellent source of supplemental income. Of course, owning a rental property isn’t a small undertaking, but it can be economically viable with the right planning, safeguards in place, and the help of
Finding the right tenant can be one of the most challenging (and rewarding) aspects of rental property management. It’s a tedious process that takes up a lot of time and can leave you feeling quite overwhelmed. It can be difficult, even for experienced property management companies, which is why we
Winter is already upon us, but if you’re managing several properties or have had a busy schedule, winterizing your properties might not have been at the top of your priority list. However, it’s not too late to get the job done. As the days continue to stay short and the
Though property sales have seen an increase, the prices these properties are going for aren’t as high as many sellers would like to see. For those times when you’re watching the “For Sale” sign on your lawn get faded by sun and rain, considering a different route in regards to
Every landlord has one goal in common: the best tenant. It’s an ambitious goal. Finding tenants that respect the rented space, pay dues on time, and are easy to communicate with are all things we can hope for and find. But the key to a better tenant is to be
It can cost you significant time and money to attract and keep ideal tenants, but it’s far more costly to remove ones that are less than exemplary. Instead of waiting for a lease to end only to find you need to make costly repairs to your property before a new
A major responsibility that a landlord is legally required to fulfill is creating a habitable living space. This is legally enforced by a tenant’s “warranty of habitability.” The details of what makes a living environment habitable depend on what state you are in. In general, though, here are some key
Whether you’re transitioning from living in your home to renting it out to new tenants, or you’re looking to upgrade a property you already rent out between tenants, making upgrades to your property is never a bad idea. Repairs can be pretty costly, but there are some projects out there
One major decision you have to make as a property manager is whether or not you are going to allow your renters to have pets. And even when you do decide you want to allow pets, there are a variety of concerns and accommodations you’ll want to consider. Here is
Sometimes, watching others live in your property is a hard thing. You can’t help wincing at each stain, bang, dent, and chip. Every renter has the right to make a home out of the place they’re renting, and this includes “normal wear and tear.” However, “normal” can mean something different
Low-income housing has been a hot topic in the state of Utah for about a decade now. This is due in large part to a “housing first” initiative that was implemented in the state of Utah a little over 10 years ago, back in 2005. The initiative was part of
When searching for a new home, some of us have a hard time even knowing where to get started. Most listing sites will make you start with choosing what kind of property you’re looking for, whether that’s an apartment in a high rise, a unit in a multi-family home, a
Over the past several years, we have seen a dramatic rise in rental prices across the country, as people are paying more and more to rent property, rather than utilize other housing options. Indeed, this current pricing structure is the highest level of rent-to-income proportions since the 1950’s. Nearly half
Many properties will have a space that is the perfect venue for hosting events. Whether this is a community barbecue during the summer, or a property Christmas party, there are many benefits that are inherent to hosting property events. While it may be a little more of an expense, it’s
Becoming a green company is almost like a passage of rite in the business world of the 21st century. Even Wal-Mart has had their own green revolution, which saved millions of dollars and created a new face for a company who has frequently struggled with its public image. The property
The most successful residential properties are the ones that don’t have to cycle through waves and waves of new residents every time a batch of leases is up. Indeed, one of the most important numbers to pay attention to when running a property is the rate of resident retention. Having
Winter, while bringing along wonderful things like the holidays and good spirits, can also bring about a few negative factors, such as increased expenses for landlords. While tenants can pay things like increased energy costs, there are definitely several expenses that will have to come from whoever is managing the
Aside from keeping appliances updated, bathroom fixtures functioning properly, and perfor ming other standard forms of maintenance, it’s important to establish a rental property that is both welcoming and versatile for incoming renters. This means accenting a rental space with small touches like window treatments and fresh paint. When adding
Do you have an apartment or home listed for rent, but the phone never rings? Perhaps it’s time to pull out some old renting tricks; in this case, making your property visually appealing. This isn’t a matter of cutting corners or extensive remodeling! Rather, it’s like baiting a hook: put
Having trouble with a problem tenant? Or are you wondering what you would do in the event of a tenant who wasn’t following through on a contract? Before you consider forcing a tenant to leave because of late rent payments or untidiness, get in touch with a rental property manager.
As a property owner, protecting and receiving a return on your investment is one of your top priorities. You want to make sure you’ll get rental payments on time, that tenants will take care of the property, and that you avoid potential conflicts. The best way to do this is
You may think that “going green” requires an extensive, expensive overhaul of your property. There are some quick, relatively inexpensive fixes that you can do yourself to save money. As a property owner, it’s a good idea to update even if you’re not the one paying most of the utility
In the winter, a number of things can happen that damage properties. Property owners need to be aware of what can occur, and what their responsibilities are to their tenants. Keeping the property safe and livable are important for both owner and renter, and there are a few things that