While the process of finding a new tenant can be relatively straightforward, the tricky part is familiarizing yourself with landlord-tenant laws. And, even if you are familiar with them, rental laws are constantly changing.
Finding the right tenant is a common challenge that most property managers encounters at one point or another in their life. The following bits and pieces of information in this article will allow you to have a better idea in picking the right or ideal tenant.
Writing a late rent notice is an unavoidable part of being a landlord. The notice of a late rent payment has three purposes. First, it reminds the tenant to pay the overdue rent promptly, informs about late fees, and then warns the tenant of the consequences of nonpayment.
It appears that many individuals experience a moment in their lives where they aspire to become a landlord. With the prevalence of reality TV shows and success stories of those who have transitioned from full-time work to earning substantial sums of money through rental properties, it's understandable why people view being a landlord as a profitable and enjoyable endeavor.
Although, historically, owning investment real estate, is considered, a quality, relatively - safe, vehicle, it takes some knowledge, understanding, planning, and carefully, choosing the right/ appropriate property, to do so!
Adding properties to your investment portfolio diversifies your risk and can certainly lead to more passive income, but with more properties comes more challenges (and more work). If you have the time and skills to manage multiple properties on your own, more power to you.
Sending properties to thousands of people sounds much more appealing than sending a property to a small handful of individuals. The chances of selling your property are much greater if you send it to thousands of people, right?
Any tax person will tell you that you should save a receipt for every business-related purchase, no matter how small. Even so, many landlords are not keeping a paper…
Wholesale real estate has a controversial reputation and has even faced legislative restrictions in various places such as Oklahoma and Philadelphia. Regardless of the legal and ethical considerations, however, wholesaling can be done in an above-board way. Furthermore, wholesalers can provide some very good deals for end-buyers.
As a landlord or property manager, one of the most frustrating situations you may encounter is a tenant who fails to move out of the rental property in a timely manner. While most tenants will honor their lease agreements and vacate the premises on or before the lease expiration date, some may remain in the property even after the lease has expired.