No one wants to live in a smelly home, and tenants are no exception. Foul odors in a rental unit can originate from many sources including smoke, pet accidents, mold, and burnt food. But unless a landlord removes all traces of these foul smells, he’ll struggle to secure a new renter. So, how can you …
Category: Landlord Education
5 Ways to Deodorize Rental Units
What Is a Landlord’s Responsibility When Someone Gets Injured on His Rental Property?
What Is a Landlord’s Responsibility When Someone Gets Injured on His Rental Property? Injuries can happen anywhere. Potential risks abound, from slippery sidewalks to falling tree branches to loose railings. But when injuries occur on a rental property, responsibility gets murky. The landlord’s duty to provide a habitable unit includes keeping the property structurally sound. …
How Quickly Does a Landlord Need to Make Repairs?
While preventative maintenance minimizes rental unit repairs, property damage will inevitably occur. At a minimum, landlords must ensure their rental units are safe and habitable. Yet, many leases and laws invoke a higher standard. So, when a tenant submits a repair request, how quickly must a landlord handle it? Unfortunately, no blanket response covers all …
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Book Review: The Lifestyle Investor
If you own rental properties to earn passive income, The Lifestyle Investor: The 10 Commandments of Cash Flow Investing for Passive Income and Financial Freedom will be helpful! The author, Justin Donald, built his wealth through a series of passive investments and now shares his secrets via his books and Lifestyle Investor podcast. The Lifestyle …
When (and How) Should I File a Property Tax Appeal?
As property values rise nationwide, property taxes continue to keep pace. While tax rates vary, a property’s assessed value heavily influences the property tax equation. Every jurisdiction has an appeal to handle inaccurate property assessments, but simply wanting a lower tax bill isn’t sufficient to file an appeal. So, when should you file a property …
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7 Tips for Building Your Landlord Resource Network
No matter how many units you own or who maintains them, being a landlord is rarely a solitary endeavor. Bookkeeping, tenant interactions, and upkeeping buildings require multiple skills. Hiring the right professionals can mean the difference between a thriving, growing business and a catastrophe. 1. Consider who you need in your network. Think through your …
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Book Review: The Book on Managing Rental Properties
“No matter how good you are at finding real estate deals, you could lose everything if you don’t manage your properties efficiently.” This quotation embodies the purpose of The Book on Managing Rental Properties: A Proven System for Finding, Screening, and Managing Tenants with Fewer Headaches and Maximum Profits. BiggerPockets podcasters Brandon and Heather Turner, …
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How Do Fire and Emergency Services Work for Unincorporated Areas?
There are many advantages to owning property in an unincorporated area. These areas lie outside municipal regions and property owners often pay lower taxes, enjoy more privacy, and have fewer regulations to follow. Property investments in unincorporated areas have downsides, as well. Fewer regulations mean greater flexibility in how you use your property, but it …
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Strategies for Negotiating Leases with Tenants
You’ve spent hours carefully drafting a lease that specifies the critical details of landlord and tenant rights and responsibilities. Though the new lease seems fair and balanced to you, your vision may not align with your tenant’s needs. Now what? Negotiating a rental agreement acceptable to both parties is often challenging, but using the following …
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Longer Market Times and More Rent Reductions
Our partners at ShowMojo have just released their 2024 Q2 Market Update, outlining trends and challenges in the current rental market. In a nutshell, they describe “Longer market times, fewer leads, and more rent reductions.” We’ve included the key takeaways below, along with what’s working now… Market Times Continue to Go the Wrong Way …
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