Welcome to the Logical Property Management Blog. Below you'll find blog posts specific to Property Owners or Tenants to learn more about how we work and what you should be looking for.
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 […]
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 […]
The better this is defined in your lease, the better your chances of actually collecting something! So, here’s a scenario for you: a new tenant signs a lease and gives every indication that they’re about to move in…and then something comes up and they have to turn around and leave. They ask you to return […]
Section 8 is not for everyone or every property, but too many landlords have misconceptions about the program. Section 8 is a government program that pays a portion of the rent for qualifying low-income families. It’s a great program from the low-income tenant’s perspective, but landlords are often unsure of whether they should accept […]
We admitted to a few moderately spectacular bungles last week — let’s do it again! Last week, we talked about some of the mistakes that landlords make — and we’re going to keep it up this week, too. Let’s get right into it! Dealing with Tenants Don’t get caught in a repair frenzy: Be careful […]
We’ve been a lot less than perfect over the years — maybe you can learn a bit from some of our ‘favorite’ mistakes. No one is perfect — and while landlords aren’t any worse than anyone else, our mistakes can certainly cost a lot more than most people’s. We’d like to share with you some […]