However unlikely, you need to be prepared! Real emergencies are thankfully rare, but they do occasionally happen — and when they do, you need to be prepared and act accordingly to avoid making the problem worse, minimizing your liability exposure and taking care of your tenants. The most efficient way to handle an emergency is […]
Landlords that get creative are landlords that keep tenants and make more money! Being a landlord is hardly all sitting down and raking in profits because you’re nice enough to let someone else live in your house — there’s a lot of work involved! Keeping your tenants in your properties and paying on time are […]
No, the Answer Isn’t ‘Move South.’ If you’re concerned cold weather this winter is going to drive your heating bill up to terrifying heights, you’re not alone. Fortunately, there are some things you can do to reduce your heating bill – even as a tenant in someone else’s home. We won’t advise you to do […]
As Much As You Want — Unless You Want Actual Tenants. One of the more challenging parts of managing rental properties is deciding where to set your rental amounts. Charge too much, and you’ll have unwanted vacancies. Charge too little, and you’re leaving money on the table and potentially inviting a lower class of tenant […]
Even A Great Deal on a House can Fail You in the Wrong Neighborhood. If you just follow the regular news it seems almost everywhere you look today real estate values are going up. Jump on the internet and you’ll find plenty of supposed deals on rental properties. Well, all is not as it seems […]
The Best Winterization Is a Tenant — But Failing That… Ideally, of course, a rental property you own simply wouldn’t be vacant over the winter — and of course you should keep advertising your vacant properties no matter what the weather. But hoping for a tenant is no substitute for properly weatherizing a building that’s […]
Here’s a surprise: the better you treat the landlord, the better most of them will treat you! OK, so let’s get one fact out of the way: there are slumlords out there who will treat you like crap no matter how excellent you are to them. But given that your landlord is a human being […]
Maybe more slowly than a few months ago, but rents are still rising. Rent growth in the Detroit metropolitan area has been pretty significant over the past few years — 4% annual increase in 2011, 5% annual increase in 2012. 2013 is shaping up to be less dramatic, however, with average rents increase only 2% […]
For a change you may actually like these! The IRS has issued it’s long and complex regulations that explain how to deduct improvements and repairs to rental properties. The regulations take effect on January 1st, 2014, and offers up several changes that rental owners may find downright pleasant. IRS Regulation 1.263(a)-3h: The Safe Harbor for […]
You may be surprised to learn it’s your tenants! There’s no such thing as a neighborhood with no crime. There are neighborhoods with less reported crime, and there are those areas that are plainly high-crime neighborhoods — but no matter where your property is located, you’re eventually going to have to deal with crime. If […]