The worst thing for any landlord is having a vacant property. Not only does vacancy mean no money is coming in, but landlords also have to invest time and money in finding new tenants. That said, the strongest rental businesses have low turnover among their tenants. This keeps their cash flow steady and reduces costs. […]
Category Archives: Tips for Landlords
17
Nov
Nov
No landlord wants to deal with the inevitable cost and hassle that comes with eviction. However, it is sometimes necessary as a legal means for removing a problem tenant. As frustrating as the situation may be, landlords cannot resort to their own means of eviction. In fact, state laws are stringent regarding evicting a tenant, […]
16
Nov
Nov
The rental agreement is the most critical document to the success of a landlord-tenant relationship. However, many owners do not fully understand the legal implications of this document. As a result, some landlords opt for cookie-cutter leases that do not offer adequate protection instead of consulting a professional property manager or attorney. But ensuring the […]
14
Nov
Nov
It may surprise some rental owners, but property management and property maintenance are not necessarily the same. For landlords, maintenance is just one item in a long list of responsibilities to keep a rental business running. Savvy investors look to professional management firms to maximize profits while avoiding the daily stresses associated with the rental […]
13
Nov
Nov
Many investors get drawn into the rental industry by the lure of passive income. After all, who would not be interested in extra money? Real estate is a solid investment, whether your goal is saving for a college fund, retirement, or added peace of mind. That said, investing in the rental industry is not without […]
10
Nov
Nov
There are two leading strategies for the average investor to actively create real estate income: buying rental properties or fixing up houses to sell. In today’s market, either strategy can be a good investment for property owners, though each one comes with different risks and benefits. The real question is not which is the better […]
30
Oct
Oct
Would you ever consider leasing your Philadelphia rental property to a tenant you have never met? Most property owners would immediately say “no.” After all, meeting a prospective tenant in person leaves a valuable impression on you and ultimately helps determine whether they are a good fit for your property. But is there really a […]
24
Oct
Oct
Being the owner of a rental property comes with many challenges. You’re not always sure if your tenants will pay their rent on time, if they’ll treat your investment property right, or if they will conduct illegal activities in your residence. While thorough tenant screening does a lot to reduce these risks, nothing is guaranteed. […]
20
Oct
Oct
A chill is in the air, the leaves are falling, and your HVAC system is probably the last thing on your mind. As a rental property owner, Fall brings with it many maintenance tasks like cleaning gutters and checking for leaks. However, to keep tenants comfortable all year long, it is essential to service the […]
19
Oct
Oct
The rental industry is governed by federal, state, and local landlord-tenant laws. Therefore, both tenants and landlords must understand their rights and responsibilities. Although tenants must hold up their end of the lease, landlords are held to a very high standard regarding habitability standards, building codes, and fair housing. Continue reading below as we examine […]