Property Management Insights

Give yourself time to think. Whenever your tenant calls you to ask for a "special favor", such as paying rent late or wanting you to replace the carpet, tell your tenant that you will get back to him within the next day or so. This gives you a chance to think without be...

Record all tenant repair requests. Make your number 1 policy (and follow through!) with tenants that all repair requests should be in writing. Have them send you an email with as much details and photos as possible. Your response should always be to reply as to when the repairman...

Collecting past due rent from your tenants is a job many owners find distasteful. Make sure your lease clearly spells out the consequences for late rent, send your demand notice, and file eviction if you don't get paid. Do not accept partial payments as this starts you down t...

Curb appeal is one of the most important attractors to rental property. Everyone loves looking at a home with a nicely manicured lawn. You don't have to spend a fortune fixing up the yard but while your home is on the market, it is important to keep the lawn mowed (don't ...

Screen tenants - If you are planning to manage your own property, always screen your tenants. There are tenant screening services, such as TransUnion's SmartMove that allow you to perform limited tenant screening on your own. Owners get into trouble when they allow a prospect...

As an Owner, you need to put yourself in a tenants shoes when it comes to renting your property. Make sure your home is rent ready and has been repaired. So often our new owners think they can touch up a wall and it will look fine. It doesn't. This is the biggest complaint we...

Renters look for the same things as buyers: a nice, updated home. The more updated the home, the more rent you can expect. But! You have to weigh the cost of all the brand new updates against the cost to recover. In addition, there are certainly limits to how high you can go befo...

Tip #1: Never, ever, ever, ever rent your property to family, friends, friends of family or friends of friends! They quickly take advantage of you because they begin to look at you like the rich guy. Or if you are family, you should give them a break. Renting to these people neve...