What to Include in a Rental Agreement
Rental agreements are not the same across the board, although many similarities exist since there are basic terms and conditions covered in all leases. The contracts must remain compliant with state laws and local regulations, which is another reason why the same information can be showing up from one rental agreement to another. Keep reading to find out about some of the things you should include in your rental agreements. Names of All the Renters All the names of the occupants staying in your rental unit must be written down on the lease. Ev…
Continue Reading...What Exactly is “Normal Wear and Tear”?
A huge part of what inspires renters to stay for the long term is living in a well-maintained rental property. It’s in the best interest of the landlord to keep checking for property damage regularly. If damages are found, you need to be able to assess whether it’s due to normal wear and tear or a result of tenant abuse or neglect. To help you understand the difference between the two, keep on reading! Why It’s Important to Learn About Normal Wear and Tear Landlords must know how to identify damages caused by normal wear and tear because it’s…
Continue Reading...Becoming a DIY Landlord? 8 Mistakes to Avoid
While the rewards can be lucrative, being a DIY landlord can be anything but easy. Between finding great tenants and collecting rent, maintaining the property, and staying legally compliant, the responsibilities that come with being a landlord can feel stressful. There are certain mistakes, that if you avoid, you’ll be more likely to succeed. The following are 8 mistakes to avoid: 1. Not Having a Written Lease Agreement in Place A lease agreement is a legally binding document between a landlord and a tenant. It ties a tenant to certain obligat…
Continue Reading...The Benefits of Renting to Tenants with Pets
Renting to tenants with pets can provide a range of benefits for the landlord. That said, landlords should ensure they’re prepared for this type of tenancy by familiarizing themselves with pet-related laws and regulations. Additionally, landlords should consider implementing a pet policy that outlines the responsibilities of the tenant to ensure the property is taken care of. Overall, renting to tenants with pets can benefit all involved when appropriately managed. This article offers facts to take into account when determining whether to allo…
Continue Reading...How to Keep Renters Happy
Are you a landlord who wants to maintain good working relationships with tenants? If so, it's essential to keep them happy! A happy renter is a long-term renter and that means a steady income and less hassle for you. Unoccupied properties can be expensive. If you find yourself with a vacant unit, you’ll need to keep your rental property rent-ready, promote it frequently, and ensure it’s kept tidy. Additionally, your income will be interrupted while you wait for a high-quality renter since you won’t be collecting monthly rent. So, fostering a p…
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