The challenge is on: Finding a quality tenant who will pay the rent on time and take care of your property. While some view this process as a race to the finish line, that may not be the wisest approach. Sure, you want to secure a renter in a timely fashion to keep your rental property profitable. But …
Screening Tips to Find Great Tenants
Long-term Tenants and Leniency
When you and your tenant signed the lease agreement, and they moved into your rental property, there was a certain amount of trepidation on both sides. They wondered how approachable and reliable you would be when there were maintenance issues or disruptive neighbors, etc. They knew inspections were part of the scene, but frankly, they were hoping you …
The Big Debate – Holiday Gifts and Your Tenants
It’s time for the annual debate – should landlords give holiday gifts to their tenants. While some consider it completely unnecessary – this is a business, after all, and gifts are for family and friends, others consider it an essential pillar of good business. They claim it is no different than when a business hosts a customer appreciation day. There …
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The Hard and Soft Skills You Need to Be a Landlord
Being a landlord involves two aspects—the practical business side and the “people“ component. Each plays a vital role in the success of any real estate rental venture. The business aspect requires what are often labeled as “hard“ skills, while the people side uses what are commonly referred to as “soft“ skills. Neither skillset can accomplish the task solo. So, let‘s tackle the “hard“ skills first, with three crucial must-haves for property management success. Technical property know-how While it is unnecessary to be a general contractor, being …
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Gratitude and Thankfulness
“Gratitude makes sense of our past, brings peace for today, and creates a vision for tomorrow.” – Melody Beattie 2020 has …
Survey Results – Is Now a Good Time to Invest?
The results of our recent survey about the economy and real estate market reflect uncertainty amongst landlords and investors during an election year and the Covid-19 pandemic. Although 33% of respondents anticipated a “strong” economy over the next 12 month, 67% felt that the economy would be “fair or weak”. Ratings of “very strong” or …
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The Risk of Investing in Rentals
Like most business decisions, there are risks involved when investing in real estate. But this is not a “Don’t invest in rentals post”; this is an “opportunity to beat the risks by understanding them” post. Basically, all business risks have one thing in common – they create a situation where your financial outlay is greater …
How to Win “Landlord of the Year” from Your Tenants
Investing in rental properties can be a rewarding experience or a journey to you-know-where and back. The truth is you hold the power to make your investment experience a great one – by being a winning landlord. Here are some top suggestions to get you going. Communicate. Communicate. Communicate: No matter what you are trying to …
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Security Deposits – What’s Mine and What’s Theirs?
Security deposits are just that – a deposit to protect the landlord if a tenant leaves without notice, without paying, or damages the property. They are not an opportunity to make a less than ideal tenant “pay.” While retaining a portion of the deposit is sometimes necessary, documentation is essential. So, let’s start at the …
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Is Now a Good Time to Invest in Real Estate?
We’re reaching out to our community of Landlords, Investors and Real Estate Professionals to get your opinion on the economy and real estate. Let us know what you think! Click below to answer our quick, two question survey.
