Security deposits are just that – a deposit to protect the landlord if a tenant leaves without notice, without paying, or damages the property. They are not an opportunity to make a less than ideal tenant “pay.” While retaining a portion of the deposit is sometimes necessary, documentation is essential. So, let’s start at the …
Continue reading “Security Deposits – What’s Mine and What’s Theirs?”
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Section 8 housing was established by Congress to assist those who need a home or apartment to rent, but their income can’t cover the expense. Section 8 provides a “voucher” to cover a portion of the rent payment. A number of factors are included to determine the Section 8 voucher amount such as fair market …
Continue reading “The Pros and Cons of Being a Section 8 Landlord”
Like most businesses, rental property owners must adapt to the “new normal” and change in our COVID-impacted world. From social distancing and cleaning procedures, to renters who have been hard hit economically, landlords are searching for new ways to handle their rental properties and navigate the challenges. Communication – good, consistent communication – is essential. Don’t …
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According to CoreLogic’s recent Single-Family Rent Index report, Phoenix had the highest year-over-year increase in single-family homes rent in August 2020. Among the 20 metro areas included in the report, Phoenix had the highest year-over-year increase in single-family rents at 5.8%. Tucson, Arizona, had the second-highest rent price growth with a gain of 4.8%.
There is an old saying that goes, “It’s not the initial cost, it’s the upkeep!” A fitting saying for many situations and certainly one to consider when investing in home rentals. Preparing a home for rental goes beyond the purchase price. It includes remodels and upgrades that give you the best bang for your buck …
Continue reading “Rental Renovations with a Solid Return on Investment”
Phoenix, the fifth-largest US city, is the only state capital with more than a million people. Add another five million residents in Phoenix suburbs, and that’s a whole lot of real estate. Many of those residents prefer renting. According to the World Population Review, more than 46% of residents in the Phoenix metro rent. So, what makes …
Continue reading “Phoenix – A Hot Spot for Rental Property Investment”
As we keep hearing, these are unprecedented times. The Covid-19 crisis has led the government to take extraordinary measures to support the economy and protect people that have been impacted by the pandemic. For landlords, the various eviction holds that have been placed are amongst the most significant actions and a cause of confusion. Here’s …
Continue reading “Navigating the Covid-19 Eviction Restrictions”
Business owners know that it’s important to build a strong rapport with customers. Good relationships and solid customer service will keep them coming back again and again. But how does this apply when you are a landlord and your customer is your tenant? In essence, you want them ‘coming back’ for more in terms of …
Continue reading “Building Positive Relationships with Your Tenants”
The dilemma is yet to be solved. No sooner is a return-to-school plan established, then something changes. It’s a challenging time for parents who are juggling onsite and remote work while helping their children with e-learning, adjusting to daycare changes, and trying to make plans for children to return to school classrooms – at least …
