- Landlord Blog
Maybe money is a little tight these days and you are looking for some extra cash flow. The idea of renting out a spare bedroom or loft in your home has struck you a great way to make some “easy money"—just the thing to make your life a lot simpler. But before you post that “room to lease” sign, there are some things you definitely should keep in mind.
Is It Allowed?
Don’t assume that because it’s your home, you can do whatever you want. Some city or ... Read More
Going it alone is hard work. Connecting with landlord groups in your area could help you make smarter choices that improve your business without forcing you to work harder. If you want to meet more landlords, try these four options.
Meetup.com and the Meetup app are useful ways to find landlord groups near your city. The number of groups depends on where you live. New York City and Los Angeles, for instance, have well over a dozen groups that focus on real estate and rental issu ... Read More
When you're just getting started in any business, you may not know exactly what you should be documenting. With rental businesses in particular, there's room for a lot of different things that can go wrong, and you may be asked to provide evidence to tenants or the government. It's vitally important to document everything you can, from as early on in your company's history as you're able. Here are just a few reasons why.
You never know when Uncle Sam is going w ... Read More
The U.S. federal government has declared that certain categories of people are protected from housing discrimination under the Fair Housing Act, or FHA. These "protected classes" cannot be discriminated against when renting or selling a unit or when posting a listing.
Not every class of people counts as a protected class. Many landlords are confused about who is considered protected under the FHA - especially since the categories in question, and interpretations of those categories, h ... Read More
Being a landlord can take a big toll on your time. A tenant might call at any hour to report a problem. Sometimes, tenants expect instant repairs, even when the issue will take time to resolve. Creating a balance between your tenants' needs and rights and your own needs can be challenging. You don't want a major leak to cause thousands of dollars in property damage, but you also don't want to field calls about a dripping faucet at 3 a.m. Here are five tips to help you create a work/l ... Read More
Temporary or short-term tenants have very specific needs, but they can be a gold mine for landlords. Short-term leases often carry premium pricing and, depending on local laws, the rates can jump significantly at the end of the lease term. The trick is finding these tenants to keep your short-term vacancy rates as low as possible. Add these simple amenities and follow these three strategies to help keep all of your short-term rentals full, all year round.
Short-term renter ... Read More
As a rental property owner, you are often a plumber, electrician or decorator, but you are probably not a lawyer. Since rental agreements are contracts and states have laws that specifically impact landlords and tenants, legal pitfalls can open up underneath you. Everything from poorly written rental agreements to responsibilities not outlined in a lease can crop up. Learn about some of the most common potential issues and how to avoid falling into a legal hole.
Everything starts with the ... Read More
Many people like to get cats, dogs, or even exotic pets to live in their apartment or other rental. Some landlords allow these pets to entice more applicants to their properties. However, you must protect yourself from the liability that comes with animals.
1. Tenant Liability
In most cases, the tenant is responsible for the pet they choose to keep. For example, you have a tenant with a medium-sized dog named Fluffy. Fluffy is usually friendly and wags her tail at everyone who comes by. On ... Read More
If you have decided to become a landlord, congratulations! However, before you jump in with both feet, you should be aware of some important facts and tips to help you be successful and avoid the pitfalls that plague many landlords.
1. Create a Contact List
Whether you manage two units, twenty, or two hundred, one thing remains the same: you can’t do it all. Even if you consider yourself a jack of all trades and only have a few tenants, you’ll need help at some point. Start acc ... Read More
In general terms, squatters rights in Idaho are governed by the common law statutes which dictate how property is being used through adverse possession. An oral claim for possession is allowed in Idaho, but only when the squatters have been paying the property taxes on a parcel of land for a minimum of 20 years. All other provisions under Idaho law must also be met for an adverse possession claim to be filed. How could a property owner lose their Idaho property to squatters today? Here are the p ... Read More
Rental agreements in Iowa cover most apartments and houses, but do not cover 100% of all situations. That's why having a summary of Iowa renters rights is so important to the rental process. Here is what you're going to want to know.
1. Properties Must Be Habitable.
This generally means a rental unit must be up to local building codes. It must remain in a livable condition, have places for garbage removal and disposal, and have hot/cold running water. Heat must also be provided and ... Read More
One of the most common places for heat to escape your home is through the roof. When there is an unsealed attic door present, it becomes even easier to lose this energy resource. That's why knowing how to seal an attic door can help you quickly save some cash during the colder months for a relatively small investment of time and money. Here's what you're going to need to do.
1. Install Weatherstripping.
You can find weatherstripping that is self-sticking for a quick install ... Read More
Metal roofing can be a cost-effective method of protecting a home. Over time, however, it can also receive damage that will cause it to begin leaking. Instead of trying to replace the entire thing, here's how to patch a metal roof for a fraction of the cost.
1. Loose Nails Are The Most Common Culprit.
Inspect your metal roof for loose nails, screws, or bolts. Pull any that have become bent and replace them. Tighten all others so that they are once again water-resistant. If screws were ... Read More
Your asphalt driveway sees a lot of wear and tear thanks to its use and exposure to the elements. To keep your driveway healthy, it needs to be sealed every few years. Knowing how to seal an asphalt driveway seems daunting on the first attempt at it, but as you will see the steps required to get the job done are pretty simple and straightforward.
1. Clean Up Your Driveway.
This means you'll need to sweep away all dirt and debris. If there are cracks in the asphalt where weeds have ... Read More
A series of laws, called the landlord tenant code, help to govern the rights which renters have within the state of Maryland. This code also sets forth the responsibilities that renters have toward landlords in this business relationship. Here are some answers to the most commonly asked questions regarding how this relationship can be structured within a lease.
Q: How Much Can a Security Deposit Be?
A: Landlords are permitted to require a security deposit that is 2x the amount of rent that ... Read More
The most common reason for the eviction process in Louisiana to begin is because of the nonpayment of rent. When this occurs, landlords are permitted to issue what is known as a 5 Day Notice to tenants who have failed to pay rent on time. Other rental agreement violations also require a 5 Day Notice. For landlords wishing to remove tenants that are on a month-to-month lease, a 10 Day Notice is required. This gives the tenant 5-10 days to cure the default (pay their rent) or risk these additional ... Read More
Did you know that there are security deposit limits in place in Connecticut? Landlords may not charge more than 2x what they ask for in rent as a security deposit against damages. If a tenant at the time of rental is 62 or above in age, then this security deposit limit is reduced by 50%. Here are some other important points to know in Connecticut's landlord tenant law.
1. Landlords Have 30 Days To Return a Security Deposit.
The full security deposit must be returned unless a tenant ... Read More
The eviction process in Kansas can be completed rather quickly when compared to that of other states. How the process proceeds depends on what the tenant violation happens to be. No matter what the violation may be, however, self-initiated eviction efforts are considered illegal and can result in a judgment against the landlord performing them. That's why following the eviction process in Kansas is so important. Here's what you're going to need to do.
1. Deliver a Proper Notic ... Read More
Landlord rights are highly emphasizes under Arkansas landlord tenant law. This quick guide will help landlords and tenants understand more of what is or is not allowed in this business relationship.
1. Rent Can Be Raised For Any Reason.
Landlords must only provide a one rental period notice in order to raise the rent. This even applies to written leases.
2. Evictions Can Happen For Any Reason.
A landlord is allowed to terminate a lease for any reason at any time. If there are no prov ... Read More
What are squatters rights in Iowa? In general terms, this state follows what is known as the “good faith” rules when it comes to adverse possession. This means someone who knows that a property is not their own will not generally prevail because their actions are not in good faith. Even if someone maintains a property for more than 30 years, the court can deny their claim because of this element. In cases where someone may not realize that the property they are maintaining is actuall ... Read More