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4 Common Landlord Mistakes

landlord mistakes

As Property Managers we see a lot of landlords make the same mistakes over and over. Managing your own rental property can be challenging especially for first-time landlords. It is expected to make mistakes but some can be avoided. As property managers, we have years of experience, tools, and resources to effectively manage your property.…

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The Fair Credit Reporting Act

The Fair Credit Reporting Act

The Fair Credit Reporting Act   In 1970, the Federal Government passes the Fair Credit Reporting Act. The purpose was to promote the accuracy, fairness, privacy, and integrity of consumer reporting information. Today a standardized format known as metro-2 is used to facilitate reporting of accurate and complete consumer’s credit history information to major credit…

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Should you hire a property manager or self-manage your property?

You just bought your first rental property, and you probably have the idea that a rental property is a hassle-free income. To be fair, from the outside looking in, it seems that property owners simply sit back and collect rent and don’t really do any additional work. Managing a property may seem easy, but don’t…

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Landlord-Tenant Law

Being a landlord isn’t just collecting rent checks. Tenants and landlords have important rights and obligations. A critical element for you to be a successful landlord is compliance with state and federal regulations governing the landlord-tenant relationship. Many landlords do not fully understand their rights or legal obligations, and this can be very dangerous. According…

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Credit Report

Choosing the right tenant is the most important task you will have as a landlord. It is essential that you protect yourself and your property by screening tenants with a credit check. This is where most of the newbie landlords make their biggest mistakes. In some cases, prospective tenants will try to distract you from running…

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Eviction

Unfortunately, eviction is an inevitable part of being a landlord. You might be a great landlord and perform rigorous tenant screening, but eventually, you will find yourself with a tenant that doesn’t pay rent and you will have to evict them. Evictions may seem harsh, but you have to understand that it is a business…

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Lease Renewal

When the tenant’s lease is coming to an end, you have a decision to make. If your current tenant wants to stay longer you can choose between renewing their lease or finding another tenant. Renewing a lease means that, at the end of the lease term, you and your tenant decide to renew the contract.…

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Should You Allow Pets in Your Rental Property?

One of the many important decisions you will make as a landlord is whether pets will be allowed in your rental property. Did you know that 68% of U.S. households have a pet? Allowing pets in your property is your opportunity to have more applicants interested. Most pet owners consider their pets like family. If you…

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Vacancies

A vacancy is the number one cause of money loss. Property owners lose thousands of dollars because of prolonged vacancy periods. It is typically the highest expense for a rental property and you need to avoid them as much as possible.  A vacancy can happen for several reasons:   A tenant might decide to move because…

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Self-Manage Your Investment Property

Many property owners don’t want to hire a property management company to save a few dollars, but self-management comes with its own set of challenges. Property management requires a lot of time and energy. In order to decide what option is the best, you must be aware of and understand the duties you will be…

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