CategoryProperty Management

What NOT to include in your rental property

What NOT to include in your rental property Over the years, I’ve learned that there’s a balance to strike in order to be successful as a rental property owner. Part of being successful means you need to attract quality tenants.  You know…the kind that pay rent, and don’t turn your house into a meth lab.  Well, just like you, good tenants want houses that are clean, affordable, and located in safe...

How do you deal with tenant complaints?

How do you deal with tenant complaints? It’d be nice if renting properties was limited to signing a lease, handing over the keys, and collecting a rent check. The reality of owning a rental property, however, isn’t quite so rosy.  All relationships have their struggles, and the relationship between a tenant and a landlord is no different.  Things to wrong from time-to-time, and tenants will...

How do you get rid of bad, problematic tenants?

How do you get rid of bad, problematic tenants?  Dealing with problematic tenants is probably the biggest thorn in a real estate investor’s side. Tenants can cause a host of problems like not paying rent, piling up trash, being loud, and the list goes on.  If you’re like me, the first thing that pops into your mind, when dealing with problematic tenants, is how do I get them out of the property...

How do you maximize rental income?

How do you maximize rental income?  As a real estate investor, maximizing your positive cash flow is essential.   For one, while we don’t want to be greedy, investing in real estate is “for profit.”  Now, being profitable is not just about putting more money in your pocket.  There are other reasons why having good looking cash flow numbers is important. How about lenders?  As you work with...

What percentage of rental income should be set aside for maintenance?

  The answer to this question will largely depend on what condition your rental property is in.  If you’ve done your rehab well, then your maintenance requests should be few and far between.  I don’t mean that you need to rehab your property to look like the Taj Mahal, but you should have gone through the home and done your rehab to the point of “move in ready.” If you’ve got a...

How do I make my rental property stand out more to renters?

As a rental property owner, you’re well aware of the fact that your rental property isn’t the only one prospective tenants have to choose from.  Making sure your rental property stands out from the rest is essential to finding the best tenants and keeping your vacancy periods as low as possible. In this post, I’m going to give you 5 practical ways you can ensure your rental property stands out...

Should I hire a property management company for my rental property?

Deciding on whether to self-manage your rental property or hire a property manager is a question I imagine every real estate investor asks themselves.  While you’ll find people on both sides of the fence, in this post, I’ll share with you what I’ve learned about property management from owning 35 rental properties over the last 5 years. In Most Cases, Self-Managing Is Better There are situations...

How Often Should You Visit Your Rental Property?

Keeping a close eye on your rental property is important for the welfare of your property.  Tackling issues before they get out of hand will also help protect your pocketbook. While you want to make sure your tenants are keeping proper care of the home, you also want to make sure there are no issues with the property that are going unnoticed, especially when the property is vacant. I remember a...

Is It A Good Idea To Rent To Section 8 Tenants?

At first glance, renting to tenants who are receiving section 8 may seem like a no-brainer.  Afterall, a guaranteed rent check that’s never late gives us landlords that warm fuzzy feeling.  However, what’s the catch?  Is it really a good idea to rent to section 8 tenants? A quick internet search will quickly give you more than enough opinions on the topic.  You’ve got some landlords that love...

WHAT SHOULD A LANDLORD DO BEFORE A TENANT MOVES IN?

You’ve promoted your rental property, received a lot of interest, screened a few applicants, and you’ve finally got a tenant.  Lease is signed, deposit is paid, and the move in date is approaching. So, what should a landlord do before a tenant moves in?   I’ve found, over the years, that doing a meticulous walk-through of my rental properties before tenants move in is a wise thing to do.  ...

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