Blog

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.

2020-09-14

Out-of-State Rental Investors: Clauses In Your Management Contract

  We manage lots of properties for landlords who don’t live in the local area (Metro Detroit), or even in the country. For out-of-state rental investors like these, having a dependable property manager to be their eyes and ears is probably the most critical part of their strategy. Because of this, out-of-town landlords need to […]

2020-09-07

PMCs: You Get What You Pay For

One of the most valuable things a PMC does for a DIY landlord is make their rentals a business, not personal. So, if you met a potential partner who was going to help you run your business, would your first priority be making sure that they took as little payment as possible for their efforts? […]

2020-08-24

How Can Landlords Prepare for Another Pandemic Shutdown?

  These past coronavirus-filled months have been extraordinarily difficult for most landlords. Though way back in March, President Trump expressed positivity that we’d get over this pandemic “quickly,” in reality, nobody knows how long this will last. Many landlords weren’t prepared for the pandemic shut down and didn’t have reserves or financial planning in place […]

2020-08-17

Pros and Cons of MF vs SFR

Many property investors start out with single-family rentals because they’re easier to acquire and more familiar. As your unit count grows though, you may want to consider buying multi-family properties. A multi-family property may consist of units in a building with a common entrance or units with separate entrances. Several of either building type may […]

2020-08-10

What’s the Best Strategy for Growing a Rental Portfolio?

The end goal for most rental investors is to generate enough rental income to be able to quit their job. What strategy should you use to grow your rental portfolio to this point?  Let’s explore two different strategies: quickly paying off your mortgage versus consistently refinancing to remove equity for additional purchases. Each has its […]

2020-08-03

Are You Ready to Scale Up Your Rental Business?

  Most rental investors enter the industry thinking not just about owning a single rental property, but about how they can eventually acquire 2, 3, 4, or dozens of rental properties one day and retire from their day jobs. If you’ve put all your available capital into property #1 and are planning how to acquire […]

2020-07-20

A Changing America: “Tenants For Life” Numbers Rising in the US

How Will It Impact Metro Detroit?   Gone are the days when owning a home was synonymous with fulfilling the great American dream. Is “Tenants for life” really the trend now.? Homeownership in America is now in decline amongst the younger generations. Although Census data for the 2020 Housing Vacancy Survey shows that about 65% […]

2020-07-13

The Limitations of Online Tenant Screening Tools

Online tenant screening tools are easy and relatively cheap to use, but are they giving you the best overview of tenants’ backgrounds and reliability in terms of maintaining the property and paying rents on time?  If you’re dealing with applicants with high credit scores, this probably won’t be an issue for you. On the other […]

2020-07-06

Preparing for Extreme Rental Property Damages and Maintenance Issues

It should be expected that something will always go wrong or need fixing with any rental property. These extreme rental property damages and maintenance Issues often depends on the age and amount of deferred maintenance of a property and the demographics of the tenants. There are, things that most landlords aren’t prepared for either financially […]

2020-06-22

Beginner’s Guide to Working with a Property Management Company, Part 2

“Interviewing a Property Management Company”   Self-managing your rental properties can be challenging and time-consuming, especially for landlords who are scaling up their portfolios. This is where having a good property management company can be a huge asset There are many property management companies (PMC’s) to choose from, both good and bad, so gathering as […]