Every established business had to start somewhere. So, if you’re considering the rental business to earn extra income, you’re in good company. The tricky thing about a new enterprise is that you don’t know what to expect. Here are some tips from seasoned landlords to start your rental business on the right foot.   1. Have …

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Keeping a rental property in good repair can be expensive. Naturally, every landlord wants as many tax deductions as possible to offset those costs. However, only some business expenses are fully deductible, while others are depreciated. Why? And how can a landlord tell the difference? The key lies in the distinction between capital improvements versus …

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Rental activity and trends for the Phoenix Metro area as reported by Zillow Research – August 2024 Typical Rent:  $1,868  (0.9% increase year over year) Single Family: $2,326 (2.0% increase year over year) Multifamily: $1,607 (-0.2% change year over year) Observed Rent Index – Phoenix Single Family vs. Multifamily – Phoenix Observed Rent Index – …

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Landlords count on receiving consistent rental payments to run a profitable business. So, the prospect of a tenant filing for bankruptcy may induce significant alarm. Landlords may ask themselves, “Can I evict the tenants? Should I let them stay in the unit rent-free? Will I ever receive their overdue rent?” Read on to find out …

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Electric vehicles (EVs) are becoming more popular all the time. Car manufacturers continue to increase their production of EVs, and charging stations are popping up in more workplaces and public parking lots. While purchasing these vehicles remains expensive, consumers find the environmental benefits and cost savings worth the initial price. In fact, so many consumers …

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The satisfaction of keeping detailed financial records probably isn’t the top reason most landlords invest in rental property. However, accurate bookkeeping affects your business’s tax deductions, protects you legally, and ensures sufficient cash flow. Here are five tips for making your rental property bookkeeping as accurate and painless as possible: 1. Keep separate personal and …

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Rental activity and trends for the Phoenix Metro area as reported by Zillow Research – July 2024 Typical Rent:  $1,884  (0.8% increase year over year) Single Family: $2,337 (2.4% increase year over year) Multifamily: $1,624 (-0.3% change year over year) Observed Rent Index – Phoenix Single Family vs. Multifamily – Phoenix Observed Rent Index – …

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To you, as a landlord, your lease is the most essential document in your rental property business. It outlines your and your tenant’s rights and responsibilities and is your first resource when questions arise. Additionally, a well-drafted agreement can provide critical protections for the landlord. Here are ten types of clauses to consider when drafting …

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On the surface, being a landlord may look like an easy, straightforward way to earn money. However, new rental property owners quickly learn that the landlord’s role involves many complexities. Apart from maintaining the property and vetting prospective tenants, landlords must collect late rent, handle tenant complaints, and organize records. For all these common quandaries, …

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Owning a rental property exposes landlords to many legal risks—from on-site injury claims to disgruntled tenants’ lawsuits. Every business will have different needs, depending on its size, ownership structure, and local laws. The right insurance should provide some measure of coverage. However, many landlords incorporate another layer of business protection by creating an LLC for …

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