FACT: Empty rental units do not make money -they cost money in lost revenue and new-tenant renovation/improvement costs. In addition, they can eat up big chunks of a landlord’s time. Long-term tenants are the key to increasing revenue and profitability. Period. But how to achieve tenant longevity is the question. Some of the reasons tenants …
Category: Landlord Education
4 Tips for Keeping Tenants Happy
6 Ways to Market your Rental Property
Vacant rental properties are the bane of every landlord’s existence. Of course, vacancies will happen as that’s the nature of the rental property business. But to maintain adequate cash flow and make a profit, those vacancies must be short-term. New tenants must first be attracted to your property before they can be screened, approved, and …
3 Strategies for Managing the Appliance Shortage
As supply chain shortages ricochet across the country, property owners face appliance shortages and price increases on parts and repairs for the essential systems in their rental units. Demands surged for all types of appliances in the early days of the pandemic as folks hunkered down at home and tackled home improvement projects. Unfortunately, this …
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Best Bets for Communicating with Tenants
Collectively battling the COVID-19 virus these past two years has impacted the landlord/tenant relationship in multiple ways, one central area being communication dynamics. As is true for many of our relationships, maintaining a healthy connection has required continual shifting of strategies to accommodate an ever-changing environment. If that sounds like a lot of work, that’s …
Smart Technology for Landlords and Tenants
The convenience and possibilities offered by smart technology appeal to tenants and landlords alike. When used for tracking maintenance issues, providing ease of access, and the many security applications, landlords love the possibilities of smart technology. In addition, tenants in the Millennial and Gen Z categories can’t get enough of the newest, techiest gadgets, and …
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Common Objections to Paying Rent Online and How to Manage Them
Online rent payments save time and money. For landlords, online money transfers provide a faster, streamlined, and more secure process for receiving rent payments. Many renters love online options for paying their rent. They view it as hassle-free—no checks, stamps, envelopes, or getting it to the post office. But not all renters have bought into …
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Amenities Are Where It’s At
We check out the amenities even when seeking a hotel room for a one-night stay. Perusing for those must-haves that will assure us of a great stay. Free full breakfast. Pool. Free Parking. Onsite restaurant. Free wifi. If amenities are that important for a brief stay, imagine their impact in a residential setting? While we …
Time-Saving Tips
Time. Everyone has the same amount of time in a day, a week, a month, a year. But not all of us use our time as efficiently as we could and when it comes to landlords and property management, every minute counts. First, let’s talk about the simple strategies that will put minutes back into …
4 Overlooked Tax Deductions for Landlords
Are you paying more taxes on your rental income than you should? Well, that depends on if you’re taking advantage of all the deductions allowed on real estate investment income. Most rental property owners are familiar with the primary deductions that landlords can claim to lessen the amount of income tax paid on their profits. …
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4 Tips for Showing Appreciation to Tenants
4 Tips for Showing Appreciation to Tenants Who doesn’t love a word of appreciation? A nod of recognition. A simple thank you. It feels good to be appreciated by the people in our life. And that includes the landlord. Simple gestures that demonstrate appreciation can significantly impact the development of trusting, long-term, mutually satisfying relationships …
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