Landlord Question and Answer Forum

The Latin word “addendum” appeared more than 230 years ago to define “something added.” Here we are in the early 21st century, and no one on Earth speaks Latin as his or her native language. Yet, that word, addendum, is still in heavy use to describe something added to a book, to a magazine, to a yearbook, and, yes, to a lease agreement. Even if you are in that small minority of folks who still remember a few words from long-ago Latin lessons, the use of lease addenda (that’s plural for addendum) may still stump you. So here’s the 411 on that important form.

Posted June 13, 2017 Reader Rating:

Landlords are some of the busiest people we know. Most have full-time jobs, and many manage their property portfolios with little or no professional help. They're on call for emergency repairs and tenant crises, and they must carve out time to show their rentals, and to meet incoming and outgoing tenants for the before and after walk-through tours. The absolute last thing the average landlord wants to spend time on is grounds maintenance. That isn't to say that no landlord cuts the grass at his or her rentals; in fact, many do. However, minimizing labor is essential in order to have time for other important chores, and to ensure that costs (including the landlord's labor or the fee for lawn care services) don't exceed profits.

Posted March 28, 2017 Reader Rating:

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 tenants

Posted March 16, 2017 Reader Rating:

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 unit competitive, or do upgrades merit a rent increase? The project scope, feasibility, timetable and return on upgrade investment each require careful consideration before taking a plunge into an overhaul of an investment property.

Posted March 14, 2017 Reader Rating: