Everyone knows it’s important to put money into savings, but that can be hard to do when it seems your paycheck is gone as soon as it comes. If you’re tired of spending all of your money on monthly expenses, there are a few things you can do without resorting to donating plasma. Here are eight ways you can decrease your spending and start putting money into savings. Check Your Subscriptions The first thing you should do when trying to save money is to take a look at your bank statement and see where your money is going each month. The main things to watch for are recurring bills and spendin ..read more

Is it time to upgrade your rental properties? It can be hard to know exactly where your money would best be spent. You want to choose the right upgrades that will make the greatest impact without spending a ton of money. Upgrades also help to create a great draw to new clientele and applications. Many higher-end tenants love to see up-to-date properties as they are more likely to rent these types of properties. To help better know what to renovate, we’ve put together a list of great upgrades that will make the biggest impact.  Add a Fresh Coat of Paint Adding a fresh coat of paint is a ..read more

Move-out inspections are an important responsibility for landlords and property managers to perform. Some states require a move out inspection, but even if your state doesn’t, many find it worth it to take the time to do so. Here are a few basics that will help you handle this task efficiently and effectively. What is a Move Out Inspection? A move out inspection occurs when a tenant is about to move out of a unit. The landlord and tenant walk through the unit to look for any damages or illegal alterations. The landlord typically looks for any damage that exceeds usual wear and tear or any cha ..read more

House cleaning product on wood tableOne of the best times to clean your rental property is during the spring. This can be difficult when you have a tenant living on the property but, even if this is the case, there are several things you should check off your list to protect your investment and improve the satisfaction of your tenants.  Exterior Cleaning Exterior cleaning is often far easier to complete when there is a tenant living in the property, because you won’t have to enter the property. Engage in landscaping processes, such as trimming bushes and mowing the lawn. Remove leaves an ..read more

Vacancies ultimately result in financial issues. Not only do they result in the loss of a monthly rent payment, but they still require you to pay all of the relevant expenses with owning property. Taking the steps to reduce vacancies or fill them quickly can go a long way toward ensuring that your rental property remains profitable over time.  Know the Market Rent It is important to ensure that the rent that you charge is in line with the market in your area. If you charge too much for rent, you will likely have tenants leave for less expensive properties. However, if you don’t charge en ..read more

Learning about the property management predictions for 2020 will help to improve your operations and streamline your processes. In the property management business, it is important to remain competitive and this can be done by implementing these trends in the early months of 2020. Here are a few property management predictions for this year that you should know about. Technology More and more property managers are using related software to streamline and improve many of their services. This often allows renters the opportunity to submit an application online, pay their rent online, sub ..read more

Maintenance is important for any building, but it can fall low on the to-do list for landlords when it comes to maintaining a rental property. Following the proper steps to maintain rental property can ensure that it maintains its appeal and is attractive for tenants. Maintaining occupied rental property can improve the satisfaction of tenants and keep them on the property, which will minimize vacancies.  Check Near the Foundation The foundation of the home can become easily damaged when exposed to standing water. It is vital to ensure that the dirt near the foundation slopes away from t ..read more

When you want to increase the value of your home, there are some things to consider. Ultimately, it’s a balance between how much you should spend and what value that expense will bring to the property. The right upgrades can help you, whether you’re trying to create resale value or you want to attract the highest quality renters. Those tenants are likely to take care of your property. Learn with this post how to increase the value of your rental property investment.    What You Need to Know Before You Renovate First, consider how much money you have to spend on upgrades and updates. Check ou ..read more

What if your tenant is not paying rent on time? If this is what you’re going through, I feel your pain. It happens. Today, we’re talking about what you should do to get your rent paid or to remove the tenant from your property.  Check Your Lease Agreement Ultimately, your lease should include some guidelines on what you should be doing if your tenant does not pay rent on time. This information should be there. If it’s not, your lease is perhaps not as strong as it should be. Three Day Pay or Quit Notice With our properties, rent is due on the first of the month, and it’s late on the fifth of ..read more

Landlords need a consistent and reliable rental pet policy, and when you’re thinking about this, there are a couple things to consider. First, sometimes you cannot choose whether or not you have animals on your property. Service animals sometimes come with tenants who have disabilities. These animals are not legally considered pets. You cannot charge a pet deposit or pet rent. If you have asked yourself before “Should I Allow Pets in a Rental Property?” keep reading this post to find some tips for a pet-friendly property and its policies. Rental Pet Policy and Tenant Pool Statistically, 70 p ..read more