Tag: rental

Why Baby Boomers Make the Best Tenants

Boomers have been changing the face of the rental market with no end in sight for the foreseeable future. Many are already retired, but even more are nearing retirement age. They have become the largest segment of renters in the country. Ignoring or not correctly marketing your properties to this demographic can be a huge […]

When It’s Worth Renovating And Upgrading Your Rental

As a smart investor, you always should be looking for ways to improve cash flow, income stream, and to increase the value of the property. Taking the time to renovate can accomplish all three, but you must be willing to expose yourself to some financial risk and uncertainty. You’ll have the unit(s) vacant during construction, […]

Charging Tenants for Maintenance Bills

Tenants rarely take responsibility for repair issues, so landlords need strong language in lease agreements to legally charge tenants for problems they cause. We just had another experience that reminded us why our lease has so many clauses. A Tenant contacted us because their kitchen drain was clogged. We asked what caused the problem and […]

Avoiding Risky Property Management Companies

We’ve just heard about another two local property management companies “having difficulties” meeting the needs and expectations of their rental property owner clients. First, let’s make sure everyone reading this understands we’re not perfect and make no claim to be.  But, we do like to think we’re better than most, if not all, our competitors.  […]

Tenants Abandoning Detroit…

We’ve seen a sharp increase in the number of tenants calling on our rentals that are moving from Detroit! It’s our corporate policy to ask every prospective tenant where they live now and why they’re moving.  We do it to better understand what type of home they’re looking for and what we have that might […]

Using Social Media to Screen Potential Tenants

How many landlords have checked out a rental applicant using social media sites like LinkedIn, Facebook, Twitter, etc? Be honest – how many landlords have ever even thought about it? It could be a great additional tool to supplement a light credit file or for applicants that can’t prove their claimed income. We’ve been reading […]

How Long Does it Take to Find a Tenant?

Every time a property we manage goes vacant, the first thing the property owner wants to know is, how fast can we find another tenant to put in it. This makes perfect sense as most property owners either have a mortgage on their property that needs to be paid or they’re living off the cashflow […]

Another Reason NOT to Delay Tenant Evictions

Very few people actually like to be perceived as a “bad guy” or “bad cop”.  Most of us want everyone to like us and will avoid conflict when possible. Unfortunately, acting this way with tenants will cost a landlord more in the long run. That’s why it’s so important as a landlord to be firm […]

Tenant Rights when Their Metro Detroit Rental Goes into Foreclosure

You’re paying your rent on time, enjoying the property you live in, when a foreclosure notice is tacked to the door.  What do you do?   Finding a foreclosure notice on the door of your Metro Detroit area rental property can be pretty unsettling. Lot’s of questions run through your mind: When do you have to […]

Metro Detroit Landlords Should Turn Neighbors into Spies

You can’t always be inspecting your Metro Detroit area rental properties, but you don’t have to – if you get neighbors to help you! We’ve always made it a practice of introducing ourselves to the neighbors of the Metro Detroit area homes we manage.  We give them our card and ask them to contact us if the tenants are […]