Vacancies in a rental property are expensive and stressful. When your property is unoccupied, it means you aren’t earning any rental income. It also means your property is at risk for undetected maintenance issues because no one is in it to notice or take care of things.
When you’re advertising your property, showing it to prospects, and screening applications, you’re looking for a great tenant. The best tenants in your local market are looking for a home that’s managed by a professional management company.
We’ve never met a landlord who enjoys evicting a tenant. It’s an unpleasant process for everyone, but it’s also unavoidable on occasion. If you have a tenant who isn’t paying rent, you need to be prepared to evict. Today, we’re explaining the process.
Mistakes can be expensive and make a huge mark on your ROI. If you’re a self-managing landlord who is worried about paying management fees, it’s important that you realize you can often make a mistake that turns out to be a lot more costly than the price of a professional property manager.
Replacing things in your property like carpeting, paint, and HVAC systems can be expensive. However, as a property owner, you’re responsible for these things unless you can prove that a tenant caused damage to them. When you’re handling your wear and tear items, it’s helpful to know how many years your systems and appliances will be of use to you.
A move-out inspection is required when the lease period has ended and your tenant has moved out. This is your opportunity to thoroughly inspect the home and determine its current condition. You’ll need to conduct this inspection so you can make notes of any repairs that will be needed before you re-rent the property, and you’ll also want to see if there is any damage that needs to be covered by your tenant’s security deposit.