Unless you’re a certified master plumber, or you have had serious issues with the plumbing at one of your properties or in your own home, you probably don’t think about your pipes much. After all, most people take functioning plumbing for granted. Once things are down the drain, it’s “out of sight, out of mind.” You might be in a …
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Plumbing Basics for Landlords: Tenant Problems and Prevention
The best-laid plumbing of mice and men can still encounter catastrophic failure… or something like that. Proper piping maintenance is not simply about keeping the heat above fifty-five degrees in the winter (although you should). In fact, there are a number of ways you can treat your pipes and drains and you can train your tenants to treat your pipes and drains that will go a long way in …
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Millennials Aren’t Buying Homes – What Does that Mean for Landlords?
Achieving the American Dream has long meant owning a home, but today, that idea may be doing more harm than good, particularly for Millennials. Homeownership has traditionally symbolized that a person was established, both financially and socially. And until just earlier this century, it was viewed as a sure-fire way to build wealth. Unfortunately, it’s …
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Opportunity Zones: What Landlords Need to Know
Note: This article reflects zoning policies in effect as of November 1, 2019. These policies are slated for review and updates in January of 2020. We will update this article as needed. The Demand for Urban Residential Property Is High Good news for landlords: the demand for urban residential property is and has remained high …
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7 Benefits of Property Management Software for Realtors
In 2018, homeowners purchased approximately 5.34 million existing homes in the U.S. In the same year, they purchased an additional 667,000 newly constructed units. The Association of Real Estate License Law Officials estimates that there are more than 2 million active, licensed realtors in the U.S. facilitating these sales. For those disinclined towards math, this …
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Managing Utilities for Rentals: Who Should Pay?
Overview of Utilities Let’s start with the basics: a utility is an essential service furnished to the public by a company (sometimes private, sometimes publicly owned). You can probably name a few utilities off the top of your head, such as light and water. In general, there are six types of utilities: Water Heating and …
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7 Important Fees for Landlords to Know
When it comes to property management, rent is King. But there are a whole lot of other charges that make up the Cash Flow Court. Managing properties is all about generating revenue and mitigating expense, and a great way to do both is to find legal and reasonable fees to pass onto your tenants. This …
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How to Calculate Prorated Rent
Most landlords prefer to set a rental due date on the first of the month. Sometimes, however, this does not align with the tenant’s move-in date. If tenants were to move in or out 10 days after the start of the month, charging a full month’s rent for those 20 or so remaining days wouldn’t …
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The Risks of Accepting Cash Payments for Rent
It Might Be Time to Switch to a Digital Payment Method Accepting cash for rent sounds great, and it makes sense that a cash method would tempt many landlords. After all, cash is convenient — you don’t have to worry about checks bouncing, and you don’t have to wait (sometimes for days) for your payments …
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10 Essential Lease Terms for Your Rental Agreement
Fundamentally, a lease agreement is a legal contract that ensures access to a rental property in exchange for payment. The things the tenant can and cannot do with that property, the terms of payment, and the responsibilities of each party are all defined in the lease agreement. Leases can range drastically in size and scope. …
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