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How_much_Rent_Should_I_Charge_3-15-17_SQUARE

Since rental income is the chief reason people consider buying investment properties, choosing the right rent amount requires a great deal of thought. But how do landlords decide what to charge?

Formerly, they spent weeks scanning newspaper ads for comparable rental units, and seeking advice from market experts. Now, though, anyone with internet access and a calculator can figure it out for themselves.

The two most important considerations in setting an appropriate rent amount are:

• Covering the cost* of owning the property

• Drawing a good pool of tenantsRead More »

How_Many_Applicants_Will_Your_Rental_Get_SQUARE

The perfect tenant rarely just appears on your doorstep the day you're ready to start leasing your rental property. Typically, it takes some work to find the right person, or people. But, there are established steps that can smooth the process and remove some of the mystery involved in sussing out a good applicant.

Applicants will find your rental through word of mouth, an open house, or an ad or online listing. HaveRead More »

How_Do_You_Know_Its_Time_to_Renovate_SQUARE

Landlords typically clean carpets, repaint and make minor repairs when a tenant moves out and before a new tenant moves in. At some point, however, addressing normal wear and tear just isn't enough to give a rental the facelift it needs. In that case, it may be time to consider a serious renovation.

How much work should a landlord perform to update a rental property? And, will the work merely keep a unitRead More »

Can_I_Add_That_Clause_to_My_lease_Square

With hundreds of thousands of landlords across the United States, there are few tenant issues that haven't been encountered by someone, somewhere, at some time. And out of those experiences come new lease clauses.

At the very least, rental agreements or leases – terms we use interchangeably here – cover dates, rent and security deposit amounts and who pays utilities. Clauses modify and expand those basic terms, just as they do in anyRead More »

Real_Estate_Investment_and_the_Trump_Effect_SQUARE

Landlords across the nation had a unique perspective last year when it became clear that one of their own would be moving into the White House. Real estate investors couldn't help but hope for an income boost since, while the new president's current financial success is closely tied to branding efforts, his family built its fortune on New York residential real estate.

Hopes for cuts in taxes and reduced government oversight excited investorsRead More »

Recent News Articles

Are_Rental_Lease_Rules_Really_Different_From_State_to_State_SQUARE Are Rental Lease Rules Really Different From State to State?
Did you know that if you are a Pennsylvania landlord with a tenant who hasn't paid rent - and your written lease agreement states that no notice is required to evict for non-payment of rent - that you can legally start the eviction process without sending your tenant a notice? Yes, that's allowed by Pa. law. But you'd better not try that in the adjacent state of New Jersey. Rights of tenants in the Garden State cannot be waived. A N.J. lease agreement that declares tenant rights are waived, even if the tenant signed the lease, is unenforceable. Read More »
134844759_m A Proposed Federal Rule Change Has Landlords Anxious
Alarm is spreading among rental property owners over a proposal that would hold them liable if they failed to stop their tenants from harassing other tenants who are protected by anti-discrimination laws. The Federal Department of Housing and Urban Development rule could be enacted as early as this fall. What has landlords with multiunit properties worried is that they would be held responsible for failing to stop discrimination action by one tenant against another tenant in a protected class – even if the landlord didn't know the discrimination was occurring. No need to panic, according to HUD. The rule is only a clarification of an existing policy. And since it doesn't call for any new duties on the part of landlords, HUD states, Read More »
Pokemon_Go_Away_V4_SQUARE Pokemon Go...AWAY!
Things were getting out of hand at the small senior center in Quebec City. Hordes of people gathered every evening on the lawn of the private center on a quiet residential street. Strangers set up chairs and spread blankets as if it were a public park. Using smartphones loaded with a hot new game, the crowds played late into the night. Some nights, according to seniors who live at the site, groups of more than 100 people played Pokemon Go until 3 a.m., keeping the neighborhood wide awake. The center director finally hired a security guard to shoo away trespassers, some of whom had been urinating on trees and dropping trash on the property. Read More »
Should_Your_Rental_Lease_Have_a_Marijuana_Clause_Square_V4 Should Your Rental Lease Have a Marijuana Clause?
Imagine that the single family home you own in a quiet neighborhood was just leased to a family that moved from out of state. You pop by a few weeks after lease-signing to drop off extra keys and see how they are settling in. Instead of beds, sofas and other décor, you find that each room has been fitted with grow lights connected to hazardous tangles of electrical cords. Your tenants have stripped your house of furnishings and converted it into a greenhouse for growing marijuana. Read More »
Landlord_Lease How Vulnerable Are Your Assets as a Landlord?
If you own rental property, you own assets that are at risk. Just as large corporations protect their assets, landlords must be sure their investments are protected, even if they have just one rental property. Read More »
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