- Landlord News
The Pacific Northwest region offers a quality of life that is unmatchable in the rest of the United States, due to its abundance of natural wonders. Once a backwoods of timber and industry towns, the area is now attracting people from all over the world who are health conscious and want to pursue an "outdoor lifestyle". For those looking to buy rental properties in the Pacific Northwest, there are an incredible variety of places where prices are still low but the outlook remains strong ... Read More
Regular preventive maintenance on a rental property can save a landlord lots of money in the long run. Catching and preventing a small problem before it escalates into a large one helps reduce the risk of needing costly repairs at a later date.
Here are five preventive maintenance steps that every landlord should undertake to ultimately save money.
HVAC Maintenance -- An HVAC system often requires costly repairs or replacement if not properly maintained. Heating and air conditioning uni ... Read More
One of a landlord’s most important responsibilities is to keep the property in good repair. Developing some useful preventive maintenance habits can go a long way toward keeping things running smoothly and fixing small problems before they turn into costly repairs.
Clogs inevitably develop in sinks and tubs, but there are some effective proactive steps that you can take to keep this from being a recurrent nuisance in your rental properties. Begin by installing drain sc ... Read More
Perhaps you inherited a house, have been renting it out, enjoy being a landlord, and are interested in acquiring additional rental properties. Or maybe you've come into some extra cash and are interested in investing in a property and making a steady rental income. Regardless of the reason, do your homework first. You’ll only make money on your rental property if it is occupied. Here are three hot spots where rentals are always in demand and command top dollar.
1. Miami, Florida ... Read More
Austin, Texas has a lot going for it with its "Keep Austin Weird" slogan. There's all types that find their home here, from a vibrant art culture to a number of tech companies. It's been declared as one of the best rental markets to invest in, causing plenty of landlord attention to be turned to this growing city. So what exactly makes Austin the place to put your rental investment dollars?
Austin has several large colleges nearby, resulting in an overall ... Read More
You have a lot on your plate as a landlord, including handling common maintenance issues. You want to maximize your profits on the rental income coming in, so you don't necessarily want to call in a professional contractor every time something goes wrong. However, understanding the difference between maintenance issues that need a pro and those you can handle yourself helps keep your tenants happy and your property in good repair.
Your HVAC system is one of the most expensive compon ... Read More
When you are looking at investing in rentals, you want to consider cities with the best climates for renting. These cities should be areas that are growing in population as well as income potential. The following three cities have a lot to offer real estate investors.
1. Fort Worth, Texas
When you see lists about housing and real estate in Texas, you often see Austin mentioned. However, Fort Worth has a lot to offer investors, especially with the growth of the oil business. More people are ... Read More
As a landlord, you can be accused of harassment if your actions motivate a tenant to willingly abandon the lease. This usually occurs when a landlord wants to evict a tenant but doesn’t want to go incur the cost and trouble of a legal eviction. Landlord harassment generally involves interfering with a tenants’ privacy or making them feel unsafe or uncomfortable.
Breach of Responsibility
If you fail to properly maintain a property, a tenant may have a claim for landlord harassme ... Read More
Just about every landlord will deal with a loss of power in their rental at some point, and often the cause is a blown fuse or a tripped circuit breaker. If you know what you’re doing, you can fix these problems yourself quickly and easily. Here is a guide to dealing with both issues, allowing you to do a little DIY handiwork around your own property.
The Basics Behind The Problem
There can be many reasons behind a power failure. For example, an entire city can be hit with a blackout t ... Read More
Owners are often wary of making upgrades to their rental units, and for good reason. Why spend loads of money on things that can be damaged or otherwise devalued as soon as they are added? There are a couple of upgrades you can make that will not only add value right away but for years to come, and will make maintaining the property even easier than it was before. One of these is taking out the carpet and adding hardwood floors. Thankfully this is a relatively simple process that pays off in the ... Read More
The average cost to repair water damage is $1,200, and taking on this cost will eat into your profits as a property owner. Not only does water damage lead to the need for repairs, but it is also possible for mold to grow when water is left to seep into the walls of your rental property. The best way to avoid costly repairs is by taking preventative measures before you rent the property out. Here are some ideas that will help you lower your ongoing maintenance costs.
Keep an Eye on Water Cos ... Read More
Los Angeles features the type of rental property investments that pay dividends throughout your lifetime. It also represents a market with plenty of growth potential, a high proportion of renters to owners, and strong demand. If you’re interested in LA, you need to understand the data and fundamentals driving growth in this city. Here is a guide to why LA is so hot and even some neighborhoods you should consider when investing in a rental property.
The Los Angeles Economy Is Growing a ... Read More
Often, doing a few simple rental property upgrades will pay off in the long run; the landlord will benefit from the overall value of their rental property increasing. Giving the property a quick face lift with a few renovations also allows a landlord to asking a higher rent for a unit that outshines all rental competition in the area.
Here are five rental property upgrades that all landlords should undertake to see an increased return on their rental investment.
Landscaping -- Many woul ... Read More
All across the country, renters are suing landlords for health problems caused by mold. These claims state that toxic mold in the building has caused health problems such as skin irritations, chronic fatigue, digestive problems, cognitive dysfunctions, and breathing problems like asthma. As a landlord, it's important you know what causes mold and how identify it as well as understand what you are responsible for when it comes to mold in a rental property.
Common Causes of Mold
Mold gro ... Read More
One of the biggest challenges that landlords face on a continuing basis is maintenance. No matter how new or how well-built the property is, sooner or later you will have to deal with repairs and maintenance needs. For first-time landlords, this can be especially difficult if they don't know where to turn.
Have a Plan
Minor repairs can happen at any time, but they most often occur when it is least convenient. You will get a phone call when you are sitting down to dinner or getting read ... Read More
As an owner of an investment property, it can be tricky to decide how far to go with renovations. When choosing where to invest your renovation dollars, it’s useful to choose projects that will attract high quality tenants. It’s hard to put a dollar value on a tenant who will treat your property with the same care as they would their own property. But landlords know that these tenants add a hidden value to their properties, not only by providing a steady rental income, but also by mi ... Read More
Tenants bring lawsuits against landlords and property managers for many reasons, including property damage, injuries due to negligence, breach of contract or lease agreement, Fair Housing Discrimination, retention of security deposits, wrongful eviction, and even illegal credit reporting. Here are the most common lawsuits landlords face, and how they can prevent them.
1. Wrongful Eviction
When a landlord or property manager evicts a tenant without following through the proper required proc ... Read More
In recent years, Houston has become one of the top rental investment cities in the United States. ABC News reported that in 2013 an investor could conceivably recoup a gross yield of 11.2 percent of his initial investment in the first year. In subsequent years the investment potential in the city has risen even higher. As the fourth largest city in the United States, Houston is more than just a thriving metropolis. It has become the gateway to Latin America and the energy capital of the world. I ... Read More
Landlords have many pitfalls to avoid. Tenants fall on hard times? You might stop seeing rent checks come in and have to pursue an eviction. Heating unit bites the dust? A major repair can put you in the negative on that property for months. Another major fear is tenant lawsuits. Even if you successfully litigate, being tied up in court is expensive in both money for lawyer’s fees and in time that could be spent elsewhere.
Federal Protections and Rental Advertisements
One major poten ... Read More
Owning a rental property opens you up to liability, and your job as a smart investor is to mitigate this liability where possible to protect yourself. One way that you can lower your risk of being the target of a lawsuit is by requiring tenants to carry renter's insurance.
Avoid the Financial Burden of Injury Claims
If your tenant fails to put salt down after it snows and their friend slips while walking up the stairs of your rental property, who would be to blame? While your tenant ma ... Read More