Most landlords purchase insurance to protect against property damage caused by weather, water, fire, and theft. Should landlords also purchase a home warranty policy? Home warranties typically cover service visits and repairs for electrical, plumbing, and HVAC, and may cover major laundry and kitchen appliances as well. The items covered, service fees, and exclusions vary quite a bit …
Category: Landlord Education
Are Home Warranties Worth the Cost?
Should You Rent to a Friend?
It’s the million-dollar question every landlord will face at some point. A friend, an extended family member, or someone who better fits the label of acquaintance will approach you about renting one of your properties. Other friends and family, colleagues, the mail carrier, and the grocery cashier will be quick to weigh in with their …
5 Tips for Marketing Your Rental Property to Gen Z
Generation Z. The young men and women born between 1997 and 2012, the successors to the Millennial generation. Those recent grads or the guys and gals approaching graduation, ready to venture out on their own into the wonderful world of securing housing. For many in this demographic, that means finding an apartment, townhouse, or single-family home to rent –as few are in the position to buy …
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Long-term vs. Short-term Rentals
As with most things in life, a list of both pros and cons can be compiled concerning the ownership of both long-term and short-term rental properties. The recent shift in the hospitality industry toward short-term rentals versus the traditional hotel vacation stay finds many investors intrigued by the possibilities and potential of this growing market. But let’s hope this doesn’t happen before a thorough investigation into the advantages and …
The Many Facets of Rental Property Maintenance
Maintenance. The word is often responsible for nightmares and huge pits in the stomach, but it doesn’t have to be that way. While some rental property owners and managers wring their hands and procrastinate over maintenance issues, others have learned that a “plan to maintain” is a critical aspect in the success of their rental property pursuits. Maintenance comes in many shapes and sizes, and …
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Creating An Efficient Move-Out Process
Even the best tenant and lease will come to an end at some point in time. Whether your tenant is relocating, moving into a larger (or smaller) unit, or buying a home, turnover is a part of investing in rentals properties. By creating a smooth process, you can reduce the time for the current tenant to vacate …
Organization Pays Off
“A good system shortens the road to the goal.” – Orison Swett Marden Whether you’re creating a sound strategy for investing in property or just trying to maintain the property you already own, organization is key to reaching your best potential. Money: Draw up your personal ‘policies and procedures.’ Establish an accurate picture of your income. (Hint: Don’t …
Pets or No Pets?
There are pros and cons to everything in life. And that includes the issue of renting housing property to pet owners. Did you know that in 2020, pet ownership in the U.S. rose from 67% of households to an all-time high of 70%? That’s according to Steve King, president, and CEO of the American Pet Products Association (APPA), in a preview of the association’s …
Should you let your tenants make improvements on your rental property?
It is not an easily answered question – there are pros and cons, advantages, and risks. So, let’s discuss it, but before we start, we need to make one item very clear. “The subject of improvements must be clearly defined in the lease.” Some property owners forbid it outright. They prefer to take care of all improvements whether they …
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Attracting Tenants to Your Door
Your front door is the gateway to your rental –and your #1 curb appeal attention grabber. Upgrading your entrance can make your property’s appeal go to the top of the scale, and it doesn’t have to take a boatload of cash or hours of work. Paint it – choose an eye-catching color that contrasts with the …
