Owning rental property can be a great way to reach your financial goals. With a positive cash flow, a landlord can build equity, earn profits, and expand their portfolio. But higher-than-expected vacancies, operating costs, or repair needs can quickly turn what should be a lucrative asset into a financial drain instead. What should a landlord …
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More residents in a rental unit can mean increases in noise, amenity usage, and wear and tear. Overcrowding of a living space might even result in damage, safety hazards, or filth that attracts undesirable pests. For landlords looking to avoid such problems, setting occupancy limits for their rental property seems to be an easy solution. …
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If one of your 2024 goals is increasing income from your rental properties, add The Book on Rental Property Investing: How to Create Wealth with Intelligent Buy and Hold Real Estate Investing to your bookshelf. In this book, successful real estate investor and Bigger Pockets Podcast co-host Brandon Turner shares how he’s gained financial freedom …
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Due to market oversaturation, reduced stress, and steadier income, many landlords are transitioning their vacation properties to long-term rentals. (For a more detailed look at the factors to consider, see our post on Why are People Converting Vacation Rentals to Long-Term Rentals?) Once a property owner decides to convert his property, what’s next? How can he …
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Artificial intelligence, or AI, features in the news increasingly frequently as its capabilities encompass more industries and applications. AI has already impacted the real estate industry for some time, but its influence will continue to expand as investors find new ways to harness its potential. As this technology revolutionizes the way investors buy, sell, and …
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Following several years of significant growth, 2023 marked a cooldown in the rental market. With demand leveling out and inflation rising, rent price increases have declined since their peak in February 2022. High mortgage rates, elevated prices, and economic uncertainty have made investors more reluctant to acquire new properties. Since the pandemic, the rental market …
With a new year rounding the bend, it’s time to prepare your rental property business for 2024! Begin by assessing what went well in 2023 and where there was room for improvement; then adjust your plans accordingly. Every landlord’s goals will vary based on his location, unit types, intended tenure at a given property, and …
As of December 30th, 2023, Source of Income will now be a protected class in Tempe, Arizona joining the City of Phoenix and the City of Tucson. This means that a Tempe property owner cannot have blanket prohibitions against residents based solely upon where their funds for rent come from, such as Section 8 or …
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From the initial application to the move-out walkthrough, a landlord’s ability to communicate well with renters greatly influences a successful tenancy. But what if an applicant speaks a different language? How can a landlord and tenant agree on rental terms, resolve maintenance issues, and share concerns or changes if they can’t understand each other? Entering …
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Affordable housing should provide safe living spaces for people with limited income. Low-income accommodations are always in demand, especially in an economy where costs are rising, and incomes are struggling to keep up. Owning a property dedicated to low-income housing can benefit your real estate business and the surrounding community. But what do landlords considering …
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