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.
Many tenants who are temporarily out of work are struggling to make rent payments due to COVID-19 Coronavirus has had a major impact on the global economy. As of April 20th, the U.S. has the highest number of cases in the world, and Michigan has been particularly affected. Not only are there a large number […]
Chasing a landlord to get repairs done at a rental home is probably the biggest, most frustrating issue most tenants experience when renting. You complain, the landlord assures you it’ll be fixed, no one shows up so you complain again, someone shows up but doesn’t fix the problem and the cycle seems to go on […]
As a property owner you need to raise the rent to protect and improve your bottom line, but raising rents is never easy. It can be a delicate issue. Being too aggressive may cause tenant turnover, and you’ll incur costs associated with vacancy. On the other hand, as your fixed costs like maintenance, insurance and […]
Step One: Don’t over-think it. One of the more sensitive issues of landlordery is how to calculate rent amoutns. The struggle between property investors’ desire to make money and tenants’ ability to pay money is constant, and the number of factors it’s possible to take into account is enormous. If you wanted to make the […]
Detroit isn’t even near the top! Nearly half of all renters in the U.S. are housing cost burdened, according to the Joint Center for Housing Studies at Harvard. But what does that mean? The U.S. Department of Housing and Urban Development defines households spending more than 30% of their income on housing-related costs, such as […]
Vacancies are down, tenants are good, and your accounts are flush because nothing has broken in a few months now. Guess what time it is? It’s time to raise your rent! Counterintuitive as it might be, waiting until things are starting to get tight to raise the rent is exactly the wrong idea. If things […]
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 […]
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% […]
If you’re involved with the residential rental market, you’ve probably already heard that rental rates have been going up the last couple of years. The dramatic increase in foreclosures has left a lot of families looking for a home that’s not an apartment, leading to increased demand, which has led to increases in prices. Most […]