What Is a Notice to Quit?

A notice to quit is a document that attempts to correct an issue with problematic tenants in a formal manner. It gives the tenant a predetermined number of days to fix the issue before the landlord or property owner files a notice of eviction. This is the final attempt to collect rent or fix other issues before starting the eviction process. 

Why Would You Issue a Notice to Quit?

In many cases, a notice to quit is sent by the property manager or owner due to unwanted behavior committed by the tenant. This includes late rent payments but might also involve noisy or destructive tenants. Alternatively, the notice to quit may be sent due to other factors. 

The owner of the property may have sold the property, and the new owners may want the tenants to move out. This is one of the property management services you can retain to make a difficult process easier. (more…)

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When Does a Guest Become a Tenant?

It’s important to know when a guest becomes a tenant as they stay on your property. When this change occurs, your responsibilities toward that individual will also change. If you’re unaware that your guest suddenly has legal standing as a tenant, you might unwittingly be violating the landlord/tenant laws in your community.

Rent Must Be Exchanged

While it doesn’t matter how much you charge, the simple act of taking money in exchange for a place to stay makes the individual a tenant. 

If you have been letting a friend sleep on your couch for free, they are a guest. However, once you enter into an agreement in which that individual will pay you $100 per week, they have become a tenant. (more…)

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Rental Property Spring Cleaning Checklist

Whether you have a vacation rental property and are gearing up for your first guests of the year or you’re cleaning between tenants, spring is the best time to get your rental property in tip-top shape. 

Whip out those dustpans and break out that vacuum cleaner. You don’t want to miss these steps for your rental property spring cleaning checklist!  (more…)

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What Are Rent Concessions and When Should You Offer Them?

As landlords and building owners, the last thing on your mind is the idea of a rent concession. But when used properly, rent concessions can significantly improve your chances of attracting and keeping tenants, making the concept more appealing. 

What are rent concessions? When should you offer them? Read on to find out.  (more…)

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What You Should Know About Section 8 Property Management

Section 8 housing is a program set up by the federal government to help impoverished renters afford homes. A landlord can rent properties at market rates, and the government will then pay a subsidy to qualified tenants to help bridge the gap between what the tenant can afford and the cost of the rent.

There are legal stipulations, benefits, and potential pitfalls of renting to Section 8 tenants, and landlords should familiarize themselves to make the best decisions for their rental properties. (more…)

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The Best and Absolute Worst Methods for Collecting Rent

The foundation of any landlord’s rental property investment is rent, which means collecting rent is important. Unfortunately, collecting rent can be a nightmare for many landlords.

There are many ways a landlord can collect rent, but not all of them are ideal. Unfortunately, some are downright risky.

  • The Good

The best way to collect rent is via an automated online rent collection system through a property management company. There’s no simpler or more convenient option for both landlords and tenants.  (more…)

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What Are the Benefits of Using a Property Management Company?

As a property owner, there are several things involved in managing your property to keep it profitable. If you try to do this on your own, you can end up spending more time than you expected on the daily management of your rental units. 

You will enjoy greater peace of mind and many more benefits when you hire a property management firm to help you. 

Get Better Tenants

A property management company will have the infrastructure in place to vet applicants for any vacant unit you have available.  (more…)

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5 Reasons Why Landlords Need Expert Maintenance Services

While owning a rental property can be a great investment, it doesn’t come without its share of responsibility. Hiring a professional maintenance service can help you keep up with the repairs and updates your property needs. Some of the benefits include:

1. Repairs Are Done Quickly

While you may not have the time yourself, professional maintenance services provide consistent and timely work. Since repairing clients’ properties is their sole concern, they will do the work quickly and efficiently. Your tenants won’t be left waiting for important repairs when you’re unavailable. (more…)

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Tenant-Approved Upgrades That Add to Your Rental Return

As a property owner, building care and upkeep can eat into your profits. But, don’t worry, as there are simple, cost-effective methods to keep your property looking its best, while also increasing your rental revenue. Let’s look at the top upgrades that your tenants, and your wallet, will love:

A Fresh Coat of Paint

You might be surprised to learn that painting provides the greatest return on investment of any rental property improvement. Buying paint in bulk may even help you get a better price for this common upgrade! Just make sure to include any stipulations in your lease that pertain to painting the rental property. (more…)

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The Advantages of Renting Over Buying

Around two-thirds of Americans prefer to be homeowners rather than renters. Although most people consider renting to be a stepping stone to purchasing a house, there are a number of advantages to renting that make it a far better option than buying!

Lower Monthly Expenses 

Renting is frequently less expensive than buying a property on a monthly basis. Rentals are often less costly in the end when you total up your mortgage, property taxes, and insurance, particularly in comparison to a low-down-payment mortgage with private mortgage insurance.  (more…)

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