Ultimately, it's up to you whether allowing e-cigarettes is worth the extra cleanup effort or the potential fire hazards, much like allowing pets could mean more work after tenants move out.
When your property can't seem to keep reliable tenants, you might start to consider ways of sweetening the deal, such as offering an incentive for new tenants. Between discounts, flexible leases, and property upgrades, there are several ways to appeal to renters and fill a costly vacancy. The benefit of filling the space may very well be worth the added expense once you run a cost-benefit analysis and figure out which incentives work best for your property.
If there were extensive damages to the property or if the tenant left without paying last month’s rent and there were damages, you’re out some money, and that isn’t right. You have options, though.
By thinking like an Airbnb host, long-term landlords can reduce turnover, increase rent, and generate demand for their rental properties.
It’s difficult to know what to look for or to know whether you inspected everything you should, so it helps to have a checklist with you. Landlords often provide tenants with a checklist, but if yours doesn’t, you can use this one.
When getting a unit ready to rent, habitability issues come first. Four essential tasks can be completed without much investment of time and money, but five others may require a modest investment.
Landlord and tenant responsibilities can be complicated. This guide will outline which party is responsible for common landlord/tenant issues.
Since only agents can list properties through the MLS, real estate agents are missing all the properties landlords like me advertise. And if your real estate agent is missing out on properties listed by non-agents, you are too.
If you don't mind being on call 24/7 to deal with every Mr. and Ms. Forgetful you rent to, don't worry about it. But if you appreciate peace of mind and wish your tenants would learn to be more responsible, there's a few things you can do to deal about those lost-key situations.
Being a landlord does not have to be cumbersome. With processes, systems, and automation in place, you can make passive income off rental properties.