Owning rental property is a worthwhile opportunity for savvy investors, but it does come with the added responsibility of being a landlord. For some, this is a welcome challenge; however, managing tenants is not for everyone. If the latter describes you, hiring a property manager may be the perfect solution. That said, an experienced manager […]
Author Archives: Bay Property Management Group
17
Aug
Aug
How to purchase rental properties largely depends on an investor’s individual financial situation and is often a matter of personal preference. Some investors prefer to finance and leverage money to be used elsewhere, including financing additional properties, and some prefer cash transactions. If you have a stockpile of funds to purchase in cash, there are many benefits […]
27
Jul
Jul
Occasionally, landlords will come across applicants that seem great on paper but do not quite meet the income or credit requirements. When this occurs, landlords have two options, deny them and lose a potentially good tenant or allow the applicant to have a cosigner. That said, not every rental owner is familiar with the practice […]
21
Jul
Jul
Ideally, when a tenant decides to move on, they provide the landlord with ample notice per the terms of their lease. However, owning and managing a rental property is not always so simple. Occasionally a tenant may break the lease or abandon the property with no evidence of an intent to return. So, while it […]
15
Jul
Jul
Being a landlord is not a 9 to 5, Monday through Friday job. That said, being a rental owner comes with both pros and cons. Plus, there are times when working in a non-traditional industry such as real estate can wreak havoc on your schedule. For example, one of the common disruptions for landlords […]
13
Jul
Jul
Facilitating property tours for prospective tenants is an essential part of being a landlord. In fact, this step in the process is just as crucial as marketing to and screening potential renters. Most landlords realize that showing their property in the best possible light is crucial. Sometimes a deep clean, staging furniture, or boosting […]
08
Jul
Jul
When it comes to marketing, many things can draw attention to your property. Of course, online ads are essential for your rental property, but even the best rentals sometimes need a little something extra to get tenants to commit to a lease. That said, moving is expensive, and therefore offering free money is always a […]
07
Jul
Jul
It is not uncommon for renters to have some security deposit deductions they were not ready for. In fact, a Rent.com survey explains that one out of four renters had funds withheld when they anticipated a full refund of their deposit. Thus, leaving renters wondering – how did this happen? Is it legal for the […]
30
Jun
Jun
Preparing your rental property for the next tenant is critical to the success of your rental property business. Every renter does, and should, want to move into an impeccably clean home. However, even before that, prospective applicants do not want to tour a dirty property. After all, first impressions are lasting ones! So, presenting a clean […]
28
Jun
Jun
Owning an investment property is a great way to build long-term wealth and generate additional monthly income. That said, being successful in the rental industry relies on a healthy profit margin. Unfortunately, typical and not so typical, expenses can chip away at those profits more than many landlords realize. So, it is essential that property […]