Tag: warren

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 […]

Sharing Your Financial Information with Landlords

Last week we had two interesting interactions with rental applicants. One was very upset that we required them to resend their bank statements after they blacked-out their bank account numbers. The other applicant wanted to know why we asked for proof of their rent payments via cancelled checks and copies of money orders. In both […]

Refinance Your Upside Down Rental

Many real estate investors that bought their rental properties prior to 2007 are upside down in them.  Even those that put down 25% or more have seen their equity evaporate with falling real estate prices. A lot of these investors are also upside in their cash flow with these properties and many we speak with […]

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 […]

Should You Hire an Agent to Find You a Rental Home?

Many of the calls we get on our rental properties are a dead-end for us and the interested party as we don’t manage something that fits their needs or budget.  A decent number of these callers tell us how difficult a time they’re having finding a home and complain about the time they’re investing in […]

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 […]