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The property management business has its fair share of myths. These are beliefs that may seem accurate to landlords and property managers who have just entered the rental market, but experienced property management professionals can debunk these fantasies with one hand tied behind their back.
It is rare, but every once in a while I get a tenant who stops paying rent and tells me it’s because I won’t fix something. They often state they don’t have to “legally” pay because the rental is in bad condition. Once a tenant even claimed they should get six months free rent because the roof leaked. It’s even rarer that the courts will see this as anything but “nonpayment of rent.” It is, however, your responsibility to make sure all is in order. These days it’s quite easy to do that using technology.
The new year is all about setting goals and getting ready for new challenges. For landlords and property managers, the week between Christmas and New Year’s is another chance to catch up and set business goals for the upcoming year. To make a fresh start, be sure to resolve maintenance issues related to your rental properties and complete urgent tasks before the clock strikes twelve, so you can leave any rental troubles behind and stay on good terms with your renters.
So much has been said and written about Millennials and their renting priorities, while Generation Z is entering the rental market with heads held high. Obviously this topic cannot be left unaddressed, since 18- to 22-year-old Post-Millennials seem to be the perfect renters.
Being a landlord doesn’t mean sacrificing personal life for your renters. The key to success lies in balancing work and personal life, fostering harmony in both your internal mindset and relationships with tenants, which will ultimately lead to greater efficiency in managing rental properties.
We have two pieces of news for you: the holiday season is just around the corner, and as a landlord, you should create a pre-holiday checklist to get prepared. Before you start decorating your Christmas tree, consider the following tips that will help you to effectively manage your rental properties and keep in touch with your renters during the holidays.
The first things a tenant pays attention to when looking for the perfect apartment are cost, location, and availability. These are essential (hands down!), but what about the rental’s appearance? Do the interior and exterior matter?
As a landlord, you ensure your rental is safe and habitable. Once you collect rent you want to keep it. In many states tenants can be awarded free rent for claims against habitability. But what exactly does making a property “safe and habitable” entail? Read our eight-step guide to ensure you’re doing everything to make sure you are covered from any tenant claims.
As a landlord, you may have tenants who push policy boundaries. When tenants are pressing you to make an exception for them, it can be tempting to disregard a policy, but it is a slippery slope.
