photo credit: allygirl520
Should you collect last month’s rent when your tenant moves in? Most landlords do not collect a last month’s rent, instead they collect as much as they possibly can for a security deposit and use that to defray any costs or rent that is left over after the tenants move out. (more…)
photo credit: _sarchi
A lot of people have the misconception that it’s a landlord’s responsibility to repair a rental unit and it’s the tenants responsibility to maintain it. This might actually be a good rule of thumb to live by, but it’s not a legal tenet and doesn’t apply in all situations. (more…)
photo credit: Cindy Funk
Landlords can actually be their own worst enemy. It’s important to remember that being a landlord is a business above all else, whether you’re renting out a room in your home or you own a large number of multi-unit buildings. (more…)
photo credit: Matsuo Amon
You know that having the right tenants is key to having a good landlord/tenant relationship. But being the right sort of landlord or property manager is also an important element in this symbiotic relationship. Follow the tips below to be a highly regarded property owner. (more…)
credit: Claire L. Evans
So what is the difference between a lease and a rental unit? A lease is typically a long term agreement for a specified period of time. A standard lease is for 12 months. This means that you’re guaranteed rent from your tenant during that time, but the rent will stay at the rate you set and you are also expected to keep that tenant unless they break certain terms of the lease. (more…)
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You’ve purchased an investment property. You’ve gone through all of the rigmarole of securing the mortgage loan and closing on the property. You’ve fixed up what you needed to and you’re ready to rent the place out. But there’s something that you need to ask yourself first. Are you going to manage the property yourself or do you want to hire a property manager to do it for you? (more…)
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It’s your property, right? So you should be able to enter whenever you want. Wrong! If you’re renting property to someone else you give up the right to use that property whenever you want for whatever purposes you want and in return, you get a little (or a lot) of extra income. But your tenants also gain some rights when they rent your property, one is the assumption that you will not enter their living quarters without permission or proper notice, unless, of course, there is an emergency. (more…)
credit: akeg
Taking a tenant to court or being taken to court by a tenant can be a very stressful situation. You can alleviate that stress a little bit by taking the proper steps from the very beginning, in fact, if you’re meticulous enough, you might even be able to avoid court all together. (more…)
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If you have a tenant from hell it might be tempting to kick him or her out of your property. But you had better make sure your definition of a hellish tenant conforms with the law. Almost every state and some cities provide protection for tenants from such retaliation if the renter is exercising a legal right. (more…)
credit: Brian Turner
If you’ve found the perfect rental unit, then it’s possible and probably quite likely that it is also someone else’s dream home. So, to get that dream rental you may have to take some proactive measures. (more…)
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