Water and energy conservation are at the forefront of many peoples’ minds. As the cost of energy continues to rise, major droughts are also becoming a real threat in regions all across the country. Thus, as the number of people wanting to become environmentally friendly with their daily activities increases, it is important as a rental property […]
Tag Archives: how to be a successful landlord
Did you know that the country’s rent index increased at an annualized rate of 3.6% in 2017? At the time, that was a significant increase compared to previous years. However, since then, we’ve seen even larger increases. From 2021 to 2022, we saw average rents increase by 14.07%, one of the largest increases since 2017. […]
Addressing tenant maintenance concerns in a timely manner is often more important to your tenants than anything else you or your property management company can do. In fact, it can be more critical than reasonable rental rates, amenities, or move-in incentives like cash or discounts. As such, it’s important to keep your tenants happy by providing […]
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 […]
The average rental rates continue to rise nationwide, and the percentage of people living with someone other than their spouse or partner also continues to increase. As such, it is important for property owners to understand what it means to lease their rental property to roommates. Today, we will discuss five crucial things landlords should […]
If you own a rental property in Philly, you might know that over a quarter of your state’s population is comprised of millennials. As such, marketing your vacant rental properties specifically to millennials should be a priority. Today, we’ll go over why you should market your Philly rental to millennials and how to highlight your rental’s best features. […]
Discovering that an unauthorized person is living in your rental property is a very stressful situation. As a landlord, it is your duty to protect the property and ensure that only authorized and vetted individuals live in the unit. Unfortunately, despite having a rock-solid lease agreement, there may be times when a tenant’s guest(s) overstay […]
Finding and keeping good tenants is a crucial part of owning rental properties. However, they don’t always come easy. Additionally, it may take some effort from you and your property management team to keep them. Read along as we go over some tenant retention ideas and how to maintain good tenants in your rental properties. […]
Buying Rental Properties, Owning a Rental Property in Virginia, Property Management, Property Management in Northern Virginia, Property Management in Richmond, Tips for Investing in Rental Properties, Tips for Landlords, Tips for New Landlords
Top 10 Landlord Mistakes for New Rental Investors to Avoid
Some people may assume that being a landlord is a simple job. However, a lot more goes into the position than you may think. That said, when investors first begin their career as landlords, they’re bound to make at least a few minor mistakes. After all, nobody is perfect. But still, the goal is to […]
Rent increases are a normal and even expected part of any rental property business. Moreover, unless local law includes rent control policies, landlords are free to increase the rent as they see fit. While the goal for all investors is to make money, relying on rent increases to do so can easily backfire. Instead, […]