December is a perfect time to reflect on the outgoing year and prepare for the year ahead. If you achieved your property investment goals for 2022, congratulations! Take time to celebrate those milestones and think about how to keep that momentum going into the New Year. But, even if you didn’t achieve your goals, give …
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In an ideal world, every tenant would pay rent on time, treat their unit with care and respect, and fulfill each lease clause throughout a long, uncomplicated tenancy. But unfortunately, property owners don’t live in an ideal world, nor do their renters. Sometimes a tenant damages property or breaks a lease in a way that …
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One of your responsibilities as a rental property owner is to keep your unit well-maintained and up-to-date. But while renovations make your property more attractive to potential tenants, they can also be hard on your budget and cut significantly into revenue. The good news is that not every upgrade comes with a painful price tag. …
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The holiday season brings so much cheer, goodwill, and nostalgia. Even driving down the street feels more festive with reindeer, snowmen, icicles, and more adorning yards and storefronts. But as a rental property owner, the prospect of holiday trimmings can be stress-inducing if you fear that you and your tenant may have very different ideas …
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Investment in real estate gives you a unique tie to your local community—your business is inseparable from the area in which you invest. That powerful connection to your neighborhood places you in an ideal position to set an example and inspire those around you by doing good in your community. But when so many needs …
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With so much at stake, the relationship between a landlord and tenant can quickly become strained. As a landlord, you’ve invested considerable money, time, and effort into the property, while your tenant views the space as home. One of the best ways to minimize strain and foster a positive relationship with your tenants is to …
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One of the most visible and utilized aspects of your rental property lies right at your feet—the flooring! Attractive, high-quality flooring will appeal to tenants and require less frequent maintenance and replacement. But flooring is a significant investment, and the expense must be balanced against other factors such as the risk of damage, how long …
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Markets and prices can’t help but be volatile when they depend on so many fluctuating factors, and the rental market is no exception. Trends can be influenced by any combination of price point, location, season, interest rates, and more. But in recent months, rental markets nationwide have experienced a shift toward lower prices and more …
No matter how much experience you have as a landlord or how thoroughly you screen potential tenants, conflicts are bound to arise occasionally. Offering your tenants respect, open communication, and clear expectations will go a long way toward resolving minor issues and keeping your landlord-tenant relationships amicable. In addition, here are tips that can help …
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If your property includes a heating, ventilation, and air conditioning (HVAC) unit that’s been in place for a while, be aware that a problem with the equipment may become more complex than a simple repair. Many older appliances contain a refrigerant called R22 that is being phased out, triggering supply shortages and increased hassle and …
Continue reading “How Will the R22 Phase Out Affect my Rental Property?”
