The hallmark of good real estate management is in finding a good tenant because a bad tenant can be a nightmare for any landlord. If you are a property manager or a landlord, assessing a prospective tenant without investigating the applicant’s history or background can be a recipe for disaster. Without proper tenant screening, you … Continue reading 4 Reasons Why It’s Important to Screen Your Tenants
In as much as liquid cash is appealing, it is risky to take cash from your tenant as rent. The risk is in accountability and the possibility of it being illicit. Accountability It is not always that we are available to receive, count and document the rent. That is why we have check drop boxes. … Continue reading Be very cautious when accepting cash as rent
The Fair Housing Act was specifically crafted to protect people from discrimination when they are renting, buying or securing financing for a property. The Act specifically covers discrimination because of religion, national origin, race, color, sex, disability and the presence of children. What is Prohibited in the Fair Housing Act? In the Sale and Rental … Continue reading Fair Housing Act: What both Landlord and Tenant need to know.
The Department of Housing and Urban Development recently came up with a new set of guidelines that make it tougher for landlords and home sellers to discriminate against people with prior criminal convictions. While the reasons behind the changes are plausible, it puts the landlord on a corner. How much far can landlords go without … Continue reading After new HUD guidelines landlords straddle a thin line when dealing with former inmates
The search for a new apartment can be tedious and frustrating. Once you sign the lease you may be tempted to move in without going through the property inspection with your landlord – this can come back to haunt you. Whats the worst that can happen? If you choose to forgo an initial inspection, you … Continue reading Never move into an apartment without an inspection
Before you decide to buy that second home as an investment property, there are a few things that you need to consider to reduce your risk of sinking. Data is your best friend, not assumptions. Run your numbers, study trends and do due diligence. It is not a smooth sail but if done well it … Continue reading Five things to consider before you purchase that rental property
Property Leases and Rental Agreements contain key information about the property, the amount of rent as well as important legal rules that the tenant and landlord must follow. The tenant has to know exactly what they are getting into and many of these rules may not be captured in the lease agreement. Many different states … Continue reading Landlord Disclosures When Renting a Property
If you are a property owner trying to decide if you should hire a management company to handle your rentals or if you should be a DIY landlord, following are some of the reasons you should handle the details yourself. While a management company might seem like a good choice, why spend money on something … Continue reading DIY Landlord vs Property Managers for your Rental Property