A rental agreement should clearly state the important terms of a tenant’s property lease. Once signed by both the landlord and renter, it is a legally binding contract that lasts until the end date specified in the agreement. But what if something changes? A tenant who agreed to keep a unit pet-free might wish to …
How Can I Amend a Rental Agreement?
How Should I Handle My Rental Property in My Estate Plan?
When it comes to estate planning it’s tempting to procrastinate. It’s unpleasant to contemplate your incapacitation or death, and estate plans can feel distant and irrelevant while enjoying good health. But planning for the future is essential when passing your assets to your loved ones. And bequeathing rental properties may require special considerations. So don’t …
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How and Why to Invest in a Property with Mixed-Use Zoning
A glance across Main Street in a bustling town reveals a blend of restaurants, stores, and services at ground level with apartments rising above them. Many downtown condominiums inhabit the same city block as coffee shops, supermarkets, and theaters. Every day, more of these mixed-use developments rear their heads. And landlords wonder if they should …
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Tips for Working with a Homeowner Association
A homeowner association (HOA) is an organization that supervises a subdivision of apartments, townhouses, condominiums, or single-family homes. Every property owner within the subdivision automatically becomes an HOA member. As such, he must pay dues to the organization and abide by its policies. In turn, the HOA’s board of directors oversees the proper maintenance of …
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How Should Renters Show Proof of Income?
During the screening process, landlords must ensure that potential tenants are financially able to pay rent on time and in full each month. But answering application questions doesn’t necessarily offer adequate assurance. Responses may be manipulated or may not represent consistent, ongoing income. As a result, property owners may ask applicants to provide proof of …
What Landlords Need to Know about Rent Abatement
Rent abatement comes up often in reference to commercial properties. But it can also apply to residential leases. For that reason, residential property owners should understand abatement and how it affects landlords’ and tenants’ rights. What is abatement, and when does it apply? Abatement terms can vary among leases. But these terms free tenants from …
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Factors to Consider when Renting to Seniors
Retirees often downsize from family homes to smaller rental properties. This fact makes senior citizens a significant body of potential tenants. In many respects, seniors make desirable renters since they are often quieter, less prone to recklessness, and are more experienced property caretakers. But the senior population also requires specific considerations from their landlords. Here …
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Should I Allow My Tenants to Sublease?
Sometimes, even though a tenant intends to fulfill the lease agreement term, he can’t follow through. After all, life’s major adjustments—relationship changes, job transfers, health conditions, or family deaths—don’t occur at convenient, predictable times. When a tenant moves partway through a lease, he may wish to rent his space to a different tenant for the …
What are the Pros and Cons of a Month-to-Month Lease?
A fixed-term lease is typically the norm for landlords and tenants entering a rental agreement — and for a good reason. Landlords appreciate a stable rental income, and tenants usually want to settle into a homey unit for more than a month or two. But month-to-month leases also hold an important place in the property …
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Where Should I Advertise my Rental Property?
Your rental property is cleaned and spruced up. Finally, you’re ready for a tenant to move in and start producing a steady stream of income for you. But how do you reach potential tenants to let them know your unit is available? Here are some ways to get the word out. Classic Signage: While physical …
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