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There are two options for managing your rental property: hiring a property manager, or managing the unit yourself. If you happen to live far away from your rental, that doesn’t necessarily mean self-management won’t work for you. Although it may seem daunting to manage your property from afar, it can be done, and technology can help you do it.Read More »

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Neither landlords nor tenants enjoy handling the cost of utilities, which leads many people to try alternative options to heat or cool their residences. For example, a tenant may try to use space heaters to reduce their monthly heating bill. While using a space heater may be a great option to keep you warm in a confined space, using several will likely lead you to spend more money than you’re saving.

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Whether you are using your personal home or your rental unit, there are certain steps to take to start offering a furnished rental unit. These six tips will get you started.

Who is your client?

In the short term market, clients travel for business or pleasure. These two groups have very different needs. Business travelers tend to stay longer, but pay a lower rate. Vacation travelers stay for aRead More »

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Even as technology allows the world to become cheaper and easier to explore, traveling is still expensive. Increasingly, short term rentals through sites like VRBO, Airbnb and the like have become popular for vacationers and business travelers alike. You already pay for your housing costs, so why not offset your mortgage with some rental income during the times when you are not home? Turning your personal dwelling into a short term rental might be aRead More »

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Websites such as Airbnb, FlipKey, and VRBO have given rise to the increasing popularity of short term rentals. As explore whether this kind of rental will work for your home or rental property, there are several considerations to make. It is important to make sure this rental model meets your rental goals before adjusting your rental strategy. Here are several items to consider when evaluating whether to make your rental into a short term rentalRead More »

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Recent Educational Articles

FSBO_invest_purchase Does Selling Your House FSBO Really Save Money?
Selling 'for sale by owner' does not guarantee more profit in your pocket just because you are saving on realtor costs. Furthermore, while some FSBO do work out well, they are not all equal, as they depend on the house and the market. Read More »
Halloween_Decoration-Housesq Tenants Overdoing Halloween Decorations?
A realistic dummy laid on a lawn in Michigan each Halloween caused panic when passersby didn’t realize it was a prank. Many thought someone was seriously hurt and called 911 as the homeowner giggled inside the house. A much more gruesome scene, hosted each October on a front porch in Texas, included a child’s crib filled with zombie babies. And, in Illinois, a homeowners association felt compelled to enact new rules about Halloween displays after receiving complaints about a home whose decorations included 2,000 lights that blazed for weeks. Read More »
How_Does_Eviction_Work_SQUARE How Does Eviction Work?
More rumors surround the subject of eviction than perhaps any other rental topic. Landlords and tenants alike seem to rely on word-of-mouth information, which seems rather inappropriate considering that the eviction process follows fixed guidelines. States and local municipalities set these guidelines, and very few are identical. One feature of virtually all eviction laws is a requirement that landlords give tenants written notices before filing eviction court cases. This is where things get confusing. It takes more than a notice from a landlord for a situation to become an eviction case. A complaint must be filed in court for a case to be officially recorded. Read More »
GR77_Square Does Accepting Prepaid Rent Make Sense?
More and more tenants are requesting to pay their rents all at once, for many reasons. Whether they just sold their house, or they want to offer a lump sum due to a poor credit rating, the occasional tenant may want to put a large quantity of cash in your hand. While that sounds like a dream come true, it is important to evaluate why the tenant is requesting this, and if this makes sense for you. Read More »
GR81_Square_2-27-18 How to Appreciate Depreciation
Depreciation is a tool used by landlords to lower their overall tax bill. It is a deduction that must be paid back when you sell your property, whether you have claimed it on your taxes or not. Read More »
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