- Landlord Blog
Everyone at LandlordStation hopes that you have a safe and fun holiday season. As we wind down 2014, we'd like to offer you a coupon good for any tenant screening from now until January 1. Just enter the code HOLIDAY14 to receive 30% off.
Having comprehensive insurance coverage on a rental property is needed so that an investment an be protected. Many landlords already have what is called Landlord Insurance, which is essentially an enhanced homeowner's insurance policy, but a surprising number of landlords do not have vacancy insurance. Why choose vacancy insurance? Because it is often cheaper than Landlord Insurance and will provide protection against the theft, vandalism, or total loss of a property that is not being rented ... Read More
The basement wall of a home can be under a lot of pressure. The soil outside expands and contracts based on heat and available moisture. Prolonged rainfall can also create added weight against the wall to cause it to crack. For most problems like this, knowing how to fix a crack in a basement wall basically means knowing how to use masonry patch products. Before you begin, it is incredibly important that you make sure the crack itself is dry. If it is wet, then take a hair dryer or other heating ... Read More
You get up for a midnight snack. The lights stay off so you don't disturb anyone. As you creep down the stairs, one board ends up letting a loud creak loose and it seems to echo all around the stairwell. Instead of wondering if that creaking stair woke anyone up, knowing how to fix creaking stairs quickly and effectively can make sure that everyone stays asleep in the future. The reason why stairs creak is because there is space between the floorboard of the stair and the stringer or joist t ... Read More
Do you have what it takes to get into property management? Whether you want to start your own business or just work for someone who is already in the business, there are certain skills that you are going to need in order to be successful. It might seem like a simple job at first, but once you get down into the daily tasks that need to be completed, property management is a very complex industry. The journey of knowing how to get into property management begins by obtaining the certificates or li ... Read More
For property owners who are seeking out a tenant as a real estate investment opportunity, a property management agency can become a valuable asset. That value typically comes at a price, so understanding what a property management agency will do on your behalf as a property owner is an essential part of the business process. Here is what you should expect.
Agencies Will Deal With Customer Issues
The primary benefit of hiring a property management company is that you will no longer need to ... Read More
Screening tenants can be a tricky business. You need to get good tenants into a rental property that will take care of it and maintain an investment. You also have certain laws that need to be followed which limit the questions that can be asked. The discrimination laws are very clear about what you can and cannot ask during the screening process. That's why knowing the best tenant screening questions like these is such a critical component to the modern property management business. Here ar ... Read More
Almost every business is looking for a way to grow and expand. Property management businesses are no different. If you are ready to take on more properties, then you need to know how to find property owners in your community that may have a need for your services. Here is how you're going to be able to do that in an effective way.
1. Determine Your Targets
Almost all property management agencies have at least one primary focus. This could mean renting to a certain town, region, or even ... Read More
It can be difficult to have a rental property on the market without it. When a home remains vacant for a long time, property owners begin to look at alternative options for income. One of the most common ideas is to look at renting a home to family members. It seems like a good idea because family is generally trustworthy and reliable. They will pay their rent on time and take care of the property, right? Unfortunately many property owners find out that renting to family members is not actually ... Read More
It’s easy to give in to the temptation to skip a step or two in the tenant screening process when you feel rushed to get a tenant moved in, but this can often cause more issues down the line than it’s worth. With the multiple layers of screening available, it’s not too difficult to help ensure that the most qualified candidates end up signing the lease and moving in. Here are some steps to live by when it comes to finding the right person to rent your property:
1. Get proo ... Read More
Though the U.S. housing market has slowed down a bit in the first half of 2014, the recovery continues apace in many areas. Here is an overview of the housing market conditions in key regions.
New York and New Jersey
If you're considering purchasing a property in the tri-state area, you'd better be ready to deal with a very active market. The construction of multi-unit dwellings in New York City has exploded over the past two years and increased 82 percent from 2013 levels. This ha ... Read More
Having a thriving apartment community goes beyond having a great staff and wonderful amenities. Being able to communicate with the residents is also an important part of fostering a sense of community among your tenants. One of the best ways to keep them involved and connected is an apartment newsletter. Good apartment newsletters make y our residents feel as if they are part of a larger plan where their presence and concerns count. Great apartment newsletters are part of an effective marketing ... Read More
You are adept at picking out properties, fixing them up, and managing the tenants once you get them in there. It's that step in between -- getting prospective tenants' attention -- that you need help with. One method that helps with local marketing is direct mailing. It may seem like the sort of thing only big companies do, but these direct mail strategies apply to small business all the way up to the most successful property management companies.
1. Ultra-Local Marketing
Local mar ... Read More
Becoming a landlord can be an exciting and lucrative decision, yet beginning the process can be overwhelming for some. While regular monthly income and being your own boss are perks of the job, there are a few things you should keep in mind when renting a property for the first time. The landlord must take vigilant steps to ensure the property is well taken care of, the renters are comfortable and satisfied with their home, and any laws regarding landlord-renter relations are upheld. When you fi ... Read More
As a landlord, you deal with many different documents. The more tenants you have, the more documents can start to take over your office. The last thing you have time to for is to regularly go through files and shred old papers. From a legal standpoint, electronic documents are no different from paper documents. They take up no space in your office, and they're easier to store and share.
In addition, based on the 2000 Election Signatures in Global and National Commerce Act, or ES ... Read More
If you have a rental property, one of the easiest ways to care for that property and secure good tenants is to hire a property management company. For that company to stay in business, they must be able to charge fees to property owners and to tenants so that they can make money too. Here are some of the typical fees and charges that the average property management company will have in place. It all begins with the initial fees that come with a new contract. Many rental agencies will charge the ... Read More
Squeaky floors might prevent people from sneaking up on you, but they can also create annoying sounds that can be so loud that your midnight snack run wakes up everyone in the house. Whether your squeak is in the stairs or somewhere on the floor, there are some fast fixes that can help you stop the squeaks in just minutes. Here are some of the best options available to you so that you will know how to fix squeaky floors.
1. Install Screws That Are Designed to be Squeak Free
For most floori ... Read More
Doors take a lot of abuse. Not only can they get damaged from being kicked, hit, punched, or shouldered because they get stuck, but the elements outside can cause dings as well. Hail damage can make a door look as pitted or dented as a couple good kicks to the door do. To improve the look of the door requires a renter or home owner to know how to fix a door ding. Wood doors typically hit this damage pretty well. If they do not, then filling in the ding with putty, allowing it to dry, and then re ... Read More
Foreclosures are a great way to invest into the real estate market, but it needs to managed carefully. Most investors aren't going to get rich quickly by purchasing a distressed property and then turning it around for a profit or to create rental income. Foreclosures are often sold on an “as is” basis, which means there are likely some repairs that will need to be made in a home that is tempting. These tips for investing in foreclosures will help you find long-term potential prof ... Read More
San Francisco is one of the more unique rental markets in the U.S., as owning property in the city is simultaneously one of the best investments a landlord might make, as well as potentially the worst. This is due to the fact that the city has seen an explosion in rental rates over the last five years, and city leaders have started to take legislative action to address what they view as a housing crisis. If you already own property in the city, or are considering a property purchase in the near ... Read More