4 Tips on How to Make a Fortune out of Your Rental
How do landlords and property managers make money when they constantly need to invest in something? The secret to making a profit out of your rental properties is to start with wisely distributing your budget and understanding the current rental market. In addition, there are also subtle nuances of the trade you need to be aware of.
3 Tips to Evict a Tenant Without Hurting Their Feelings
Every landlord has to go through the eviction process at least once in their career, and it is not the most fun experience. When evicting a tenant, keep in mind they too are having a hard time. In most states you can evict a tenant for ‘no cause’, which is often easier than giving a reason. However, many landlords end giving ’cause’ during the process anyway.
Renting to Millennial Tenants? 5 Easy Tips to Follow
Surveys show Millennials are likely to rent for almost their entire lives. Since they prefer renting to buying properties, Millennials are a target audience for landlords and property managers. Born between the early 1980s and 1990s, the Millennial generation has developed renting habits you will want to consider.
How to Become a Maintenance Guru: Tips for DIY Landlords
The property management business is not just about collecting rent payments and interacting with tenants. A successful DIY landlord is also a master at keeping their rental properties in shape and solving maintenance issues like a service professional. Since prevention is better than cure, take a look at these five tips that will help you upgrade your landlording skills and become a maintenance guru by preventing damage beforehand or fixing it in the blink of an eye.
Beware! Tenant Scams Are No Joke
Tenant scams can be a nightmare for both new and experienced landlords. As the number of renters looking to profit from rental properties grows, scammers are becoming more inventive. It’s essential to distinguish between trustworthy tenants and potential fraudsters when renting to anyone.
Real-tirement. Don’t Pass on Passive Income
Were you thinking about retirement when you were a twenty-something? Did you invest in a 401(k) in your thirties? No matter what the answer, having passive income involved is a must. Building an effective retirement model that includes passive income will let you enjoy life and spend less time counting every penny.
How to Not Get Lost in the World of Security Deposits
TL;DR • TenantCloud tracks deposits from move-in through an itemized move-out return, kept separate from regular operating income the whole time.• That kind of documentation is exactly what a landlord needs if a tenant disputes a deduction after moving out.• See how the security deposit tracking tools work and stay compliant with state requirements. When […]
The Secret to an IRS Audit – TenantCloud
This year marks 110 years since the Sixteenth Amendment was first ratified by a majority of states, which was the birth of the income tax. The Internal Revenue Service (IRS) has been auditing people and small businesses ever since.
Can Rent Control Be a Good Thing? (Oregon, California and Illinois)
Oregon became the first state with statewide rent control. Oregon has been debating Senate Bill 608, which is designed to overcome the housing crisis and provide affordable rentals to lower-income populations. In Portland, the average rent has risen by 30% since 2011.
5 Tips to Increase Your Rental Income
Managing rentals is not an easy task, and looking for creative ways to increase rental income, minimize expenses, and cut losses is always a chore. Here are five creative and simple ways to increase your rental income that you can start doing today!