Advanced Property Management Article Topics
5 Tips for Reducing Your Risks as a Landlord
5 Tips for Reducing Your Risks as a Landlord Most rental property owners worry about protecting their investment. From physical damage to the property to insurance claims to lawsuits brought by tenants, there are myriad ways that you can lose money. Fortunately, minimizing risks in a rental business doesn’t require a ton of money or a staff of experts. [...]
3 TIPS TO HELP YOU MANAGE A TENANT ASSOCIATION
3 TIPS TO HELP YOU MANAGE A TENANT ASSOCIATION You’ve just found out that renters at an apartment complex you own have just formed a tenants’ association. Don’t despair! You can stave off trouble and take charge of the situation if you can keep your cool and do these three things: 1. Dig for information Talk to your tenants [...]
THE PROBLEM OF EMPTY RENTAL UNITS
THE PROBLEM OF EMPTY RENTAL UNITS Sometimes – and especially during times of economic uncertainty – it happens that rental units will stay empty for longer than you had anticipated. And this can be a problem, especially if you have to make mortgage payments on your property every month. So what can you do to minimize losses? You have [...]
TENANT MOVE IN LETTER
TENANT MOVE IN LETTER When dealing with tenants, putting things in writing is critical. One useful strategy is to give new renters a move-in letter on or before the day they move in to their new rental. A move-in letter can include information about: your expectations regarding rental upkeep what to do about safety hazards repair and maintenance procedures [...]
6 QUALITIES TO BE A SUCCESSFUL LANDLORD
6 QUALITIES TO BE A SUCCESSFUL LANDLORD Being a landlord is almost like being a superhero. You have to be very good at doing many different kinds of things to get the job done right. Here are six qualities that define a good landlord: 1. People skills A good landlord is flexible and can keep cool even in the [...]
WHAT FEATURES OF A RENTAL PROPERTY WILL ATTRACT TENANTS?
It should be the goal of every landlord to attract exceptional tenants. Good tenants settle their payment dues on time, respect the property and its rules, and maintain a long-term lease. Retention of high-quality tenants is key to the profitability of your rental property. Most landlords know the qualities that make an ideal tenant, but what does it take [...]