Whether you manage five units or 500, you're sure to find some helpful tips here!
Whether you’re a first-time homebuyer or seasoned landlord, you likely want to maximize the return on investment (ROI)—a.k.a. Profit—on your rental property as much as you can.
Here are the basic principles to use to manage your rental properties from anywhere in the world.
Landlords and property managers have had to shift from business, as usual, one day to invent procedures for no-contact showings the next, and wonder all the while about tenants who may not be able...
Being a property manager encompasses a lot of responsibilities. As a mediator between the property owner and the residents, you and your team will need exceptional people skills, organizational...
It’s not hard to find a suitable property manager. You just need to look for certain qualities.
The best news a landlord can hear is their tenants want to extend their leases. Here are 4 ways to motivate tenants to extend their leases.
Use these 6 organization tips and tricks to make your daily workload as a landlord or property manager more manageable and efficient.
If tenants decide to move, landlords must market to find good renters. How do you motivate tenants to extend their leases?
You need to understand the healthy boundaries and obligations of a tenant-landlord relationship. Unfortunately, that’s easier said than done. The lines between the landlord and the renter often...
A vacant property is costing you money and time. If your property is not renting, it may be due to several things, some easier to control.
Communication is vital to the success of your relationship with a tenant. It is more vital to the landlord because they have more to lose. Here are 4 tips for how to properly communicate your lease...
There're many ways to help your tenants feel appreciated. These five tips will help you increase the likelihood of keeping a good tenant happy.
Since a month-to-month lease offers pros and cons, it can be difficult for some landlords to know which to use. See if it's your best option.
To help visualize the eviction process, Legal Templates created an infographic to detail how this works and what to expect.
Once you have successfully marketed your property, screened applicants, and chosen the right tenant, it is time to welcome the new tenant to the rental property.
Trying some or all of these money saving tips will hopefully have you making a little bit more each month as you use rental properties to increase your personal wealth.
Rent control has been a hot topic for 2020. With moratoriums in place on both evictions and rental rate increases, many property managers are concerned about the financial implications of their...
If you have a living space you are not using; you may have thought about renting it out. This something more and more people are doing, with 36.6% of households renting their homes in 2020. And...
As a property manager, how can you be sure your tenants are satisfied with how your company serves their needs with well-maintained, safe, and functional housing? Ask them.
Being a landlord is about much more than sitting back and collecting rent checks. While it can be a good way to make some money, managing a rental property comes with a lot of responsibility. Here...
Test your knowledge by reading below and see if you can spot something new. You might be surprised.
The COVID-19 coronavirus pandemic drastically affected the financial situations of residential and commercial tenants. What does that mean for property managers and landlords, and how might they...
If you're a tenant who now needs to figure out how to make your rent payment … or a landlord who must determine how to collect rent, ease tenant anxiety, and rethink rents moving forward … where do...
As we find ourselves in the middle of the coronavirus pandemic, a lot of questions are coming up in the insurance world with regards to whether insurance policies can provide any relief to landlords.
You may be great at managing a property in your own state. Consider advice before deciding to manage property in another state.
Your tenants are usually used to enjoying the common spaces and amenities your facilities have to offer. However, with the impact of COVID-19, you've had to close most of those spaces to maintain...
To foster a healthy landlord-tenant relationship, landlords should review some of the suggestions about helping new tenants from other areas.
As of the first quarter of 2020, the US's homeownership rate was 65.3%, up from a stable 64% from 2019. The other 34.7% of the population rent their homes, and 40% of those renters are 45 or older....
Do you dream of becoming a landlord one day? Do you want to know what it's all about? Well, if you're going to become a landlord or property investor, there are a couple of things that you need to...
In this article, we'll focus on capital improvements, property taxes, current payroll, and copies of all warranties for due diligence.
As many areas of the country pause or slow down re-opening efforts due to the pandemic, a growing number of businesses have decided to close up their conventional offices and operate with most...
Being a landlord comes with lots of perks. But at the same time, the job can prove to be tough. This is especially true when you find yourself facing a tenant who has stopped paying rent or asking...
Whether you're a landlord or a tenant, you have specific rights and responsibilities outlined by the law of your province, territory, or state. Protect yourself; know what they are. Here are the...
A critical part of filling a vacancy is conducting a rental showing. Check out these quick tips for an outstanding rental showing.
There are many ways you can increase revenues for your rental property portfolio without buying more properties. Try focusing on increasing the value of each property - one at a time – and...
While managing property can seem overwhelming at first, rental vacancy rates are consistently declining, making it an extremely lucrative field.
It's important to make sure you can offer potential renters the most features tenants want for their home. Here are 7 features tenants want.
Most new real estate investors are unaware of all the options available to them for rental property financing. As they buy more properties and discover new forms of financing, they often find...
Here are the 4 secrets to writing perfect rental listings sure to convert prospects into clients. Apply 1 or many to see the benefits.
Finding a perfect tenant can be a long and daunting process, and landlords would rather spend more time on finding the best person possible rather than renting their apartment to just anyone.
To appeal to your dream tenant, you need to be a dream landlord – by taking care of repairs and updates you'll ensure a smooth turnover.
For many large purchases, buyers are given an option to purchase a warranty.
One of the best ways to make sure tenants understand a lease is to sit down with them and go through it page by page. This is what is commonly referred to as a "lease review." Here are the 7 steps...
Here are 5 property management techniques and industry best practices for increasing resident retention.
Whether you have first-time millennial applicants or experienced 65+ tenants, making them comfortable with the application process should be a priority.
Timing is the first factor that you should take into consideration while deciding when to advertise your property. Although it seems irrelevant at first, well-planned timing can increase your...
Many landlords want to be fair and yet some tenants know how to play the system. You should know your rights in regard to late rental payments.
Even though many might tell you it is very easy to rent your property, whether we talk about a flat, a house or an office space, it’s not quite that simple.
If you're looking to rent out a property in an area that's already saturated with rentals, you know that you have to do everything in your power to make your property seem as attractive as possible.
One of the best ways to retain quality tenants in your apartments is to create a sense of community, a place where tenants call home and where they want to live with their friends and family.
Here are some of the most common rental mistakes and how you can, even as a first-time landlord, avoid them completely.
The key is to follow practices that are fair, equitable, and responsible. Here are 10 things you need to do to avoid a lawsuit from any future tenants.
An ideal location and price range help a great deal. But, they are just a fraction of what it takes to really tap into a steady stream of revenue.
Realtors know their business extremely well, and they just may be able to give you a new take on yours as well. Learn more inside.
Rental real estate is an excellent long-term investment that can give you a steady stream of passive income. But the reality is, it isn’t as easy as it may sound.
Online reputation might just be the difference between your property management company getting chosen as opposed to another.
Time is one of the most valuable commodities, yet landlords seem to consistently run low on their supply, whether they’re driving around to meet tenants or spending hours fixing a leaky roof.
If you are looking for more opportunities to increase your profits, check out these methods for making more with your rental.
Organizing your rental business can be hard. Here are some of the most important documents every landlord should keep on hand and why.
Avoid these 3 FATAL landlord mistakes when charging rents to keep your rental business profitable and thriving.
Much has been written about the importance of getting your tenant to understand the lease agreement. By signing it, you both agree to abide by the contract and you both have a place to start when...
There are significant benefits to renting a furnished unit—especially if you put in the time to make it a safe, comfortable space for your prospective tenants. Here are five steps to maximize your...
Be prepared no matter what by taking the proper precautions with inherited tenants. Here 2 tips to follow working with an inherited tenant.
Here are five of the top secrets to becoming a successful real estate agent.
Managing multiple rental properties can bring in a sizable income, it also brings many hindrances and challenges that can sometimes be overwhelming. If you want to manage multiple rental properties...
In our modern world, it’s easier than ever for investors and landlords to be in more than one place at the same time. Red-eye flights can be booked from your phone and face-to-face online video...
Rental listing apps and online resources mean that renters can find your listing faster than ever before.
2020 has been a challenging year for many industries – to put it mildly. Property management is an essential industry that had to make sweeping changes and adjustments at the pandemic's onset....
If you are new to navigating the waters of marketing online, handling social media, and other important components of your online presence, check out these must-know tips for managing your online...
There are many ways to welcome your tenant into their new home. A “little something extra” doesn’t need to be fancy!
If you need to show an occupied rental property, check out these five helpful steps to ensure the process is smooth.
Raising the rent is an important component in managing one’s property. In order to run a successful business—whether you manage one property or dozens—raising the rent comes into play.
If you're considering becoming a first-time landlord or if you've already taken the leap, here are five simple steps to rental management.
Renting properties has become a more prolific business as of late. And if you have an empty home or apartment, it’s always better to have someone look after it for you and pay for utilities,...
There are a few mistakes that new landlords often make which can quickly result in a loss of income.
If you're young and have been renting for quite some time, you've likely wondered if it's smarter to continue renting or save up to buy your own home someday. After all, we've all been conditioned...
Some landlords allow cosigners while other landlords avoid them. There are legitimate reasons to explore using a cosigner on the lease. Let’s explore this further.
Whether you want to rent an apartment, an office or storage space, chances are that you are not the only landlord on the local market.
Become a savvy landlord and implement these five time-saving tips to simplify life. These 5 tips will save you time and money.
As a landlord, it is in your own best interest to do your job well. You can reduce the likelihood that you will encounter problems or issues with tenants by being a great landlord.
With your goal in mind of renting out the property again to another qualified tenant, the following must know tips will help you when a tenant moves out of your property.
Eviction is the first thing that comes to mind, but that may seem a bit drastic.
The rental business can be pretty cutthroat, and if you go in unprepared, you’re probably going to end up getting burned. Here’s how you can protect yourself.
Attracting good tenants that are compatible with the place you are renting while giving you a good payment can be tricky. How can you do all that? Well, there are a few important factors that have...
Managing properties isn’t easy, but it can be easier. As you prepare for the new year, these tips will help you make renting your properties simpler.
To make your rental property a success, read on and consider these five things that renters want from their property manager.
Moving is stressful enough. For landlords, the difficulty of a move can be compounded by the learning curve of a new rental market and a new property.
Being a landlord doesn’t require only a property to rent and tenants to rent that property to. Even though many believe that’s all it takes, to be a truly good landlord, you should do your best to...
Being a landlord could be a very profitable occupation, the one that is also interesting and fulfilling.
There is no need to stop investing in the property in order to earn a profit when you can write most of it off against your taxable income.
Have a look at our tips on how to improve your occupancy rate for maximum return on your investment property.
Some tenants do not feel the property they are renting as their own. Others simply have bad cleaning habits and no respect for other people’s belongings.
If some people would put as much energy into finding honest work as they do into perpetrating scams, the world would be a much better place.
As a new property manager, there’s a lot to think about: marketing your property to find tenants, making necessary upgrades without spending too much money, and much more.
As a landlord or property manager, you will have to deal with complaints from tenants. It’s the nature of the business.
Our friends at SmartMove contributed an article on tips on how to become a landlord.
Today, many of us live in our own plain and simple financial castles that are much more vulnerable than yesterday's castles. Not only do our financial castles not have any moat for financial...
Understand and master the use of time, and you can buy a property for thousands less!
Staging your real estate for new tenants can be overwhelming regardless of your experience.
Being a successful landlord is about more than just having zero vacancies. Check out these management issues and how to fix them for good.
While handling a property showing may sound simple, if you don’t master this step, you can lose out on quality tenants. Here are 4 tips.
A business plan is the most important part of owning and running any business that you aspire to engage in.
Managing a rental property is tough enough work as it is. Trying to keep an eye on everything long-distance is even harder. If you own property out of state or at a significant distance from where...
Have you ever thought of getting into real estate after you’re through with your college? Many people do, and most of them find it a great option to start off their professional journey.
In the world of real estate investing, there are two numbers landlords consistently analyze: the cash flow their properties could produce in an ideal scenario, and the actual monthly cash flow they...
The following are the top communication tips for landlords.
Here are 3 things you need before applying for a loan for your rental. By gathering documentation of your finances and collecting information about the property you want to purchase can simplify...
There are various methods landlords and property managers use to handle rent collection and ensure stable cash flow. What systems should you put in place to make sure your tenants pay rent on time?...
Just like everything else in real estate, working with a rental property manager has advantages and disadvantages. Let’s take a list of the pros and cons and you can decide if hiring a property...
Here are 10 tips for you to choose the best property management company. You want to hire the best management company with experience.
If you want to get involved in real estate, which is something most investors want to do at some point, you can do so by turning your current home into a rental or by renting out your house and...
Having a circle of trusted team members can not only boost your bottom line, but it can also boost your confidence and accelerate your timeline. So, who exactly should you get on your side?
A property manager needs to anticipate how to deal with unforeseen circumstances and shut down any similar future problems in the future. This is where addenda come into play. Here are a few lists...
Happy and motivated employees are an essential ingredient of a successful property management business. When your employees are happy and motivated, it makes for a great work environment....
Most part-time landlords work a full-time job and manage their rental property on the side. If you're fortunate, you can balance these responsibilities most of the time. As you acquire more...
Property management can be a rewarding business when you decide on the right mix of property you should manage to earn and diversify risk.
When it comes to working out your tax deductions, what can and can’t you deduct? In this article, we explore 8 major tax-deductible expenses that landlords can take advantage of to minimize their...
As a landlord, you want to ensure that your investment is successful. Here are 9 tips for effectively managing your rental properties.