Every landlord wants long term tenants, especially property management companies, where we want security and the best return on investment for our owners. But there is a time when you need to allow the tenant to break the lease, or the owner should break the lease, and be ok with finding a new tenant. These instances are important to the financial ROI of the property and to ensure an owner does not dig themselves a deeper hole.
Guest or Tenant ???
Ahhh the guest who is visiting, but is always there visiting month after month. Nice try but a property management company should protect its owner, and an owner should protect themselves. Sometimes as property managers, we have to draw the line, especially on behalf of our owners. Some of you might think because the rent is being covered it is ok to have a permanent guest. It really just comes down to damages and who is liable. It is always good to have all the tenants on the lease, as you will have more than 1 person to pursue unpaid rent and damages
Tenant retention is one thing every owner strives to accomplish. Longevity equals profitability. Spending a couple bucks here and there, and or spending a little time to understand the needs of your tenants can create that profitable model over time. You can achieve this by building a better open relationship with your tenants. This small article will provide a great reason to form a professional relationship with your tenant, and offer a road map to profitable property management.
Do you have a relationship with your tenant?
Tenants Personal Property Lost or Abandoned, What’s The Difference?
There is a difference in lost or abandoned property. There is also a difference in what you need to do with personal property that is left behind by your tenant.
Watch this video and find out before it costs you.
How Much Does An Eviction Really Cost Text:
An eviction is something no landlord wants. Sometimes it is because the tenant went through a hardship and has no other option but to skip on rent, and sometimes the tenant is just a bad tenant to begin with. An eviction is a legal proceeding that requires specific steps to be followed. Failing to take the proper steps can lead to the eviction being denied costing valuable time and money. Please be aware of the laws in your jurisdiction on how to conduct a legal eviction to ensure proper procedures are being followed.
So What Does An Eviction Really Cost? (more…)
Tenant Turn Over How To Save Money: Text
Tenant Turnover How To Save Money
You can screen your tenants till your blue in the face, but sometimes and or eventually, tenants leave, and sometimes not by choice. Then you find yourself looking at the potential damage, cleaning up, making repairs, spending time and money to prepare the rental home for the next tenant. Just part of the gig they say. So how can we mitigate these costs and our time? Here are some tips and steps you can take to help out with your time and the costs of cleaning and repairs.
How to Find a Rental Property That Will Attract Quality Tenants
When I was 28 I sat in a sales room full of salespeople. One of them said something to me that was not only appealing but made a lot of sense, and I think it applies here. He said, “If you want to catch a big fish, my friend, you have to use big bait”. So how does that apply in this case you say, well, if you want to attract quality tenants, you have to use quality features.
Here are some quality features that will attract quality tenants for your rental
How to Increase the Rent on Your Rental Property without Backlash from Tenants.
Rent increases are just part of the rental property business. Landlords have to increase rent to ensure they cover costs and maintain cash flow. Many Landlords ask this property management company about rent increases, as they want to make sure they do it correctly without legal ramifications. Some landlords are not sure how to go about a rent increase without backlash, or how to increase the rent and make sure the tenant doesn’t bail out at the renewal. Here are 8 simple tips to help you raise the rent, avoid tenant backlash, and maintain cash flow.
- Know the law
Always know how to perform a rent increase legally, as not to get yourself in hot water.
How to Deal with Hoarding Tenants
So, you find yourself looking at your rental property much too late, and it has been trashed. This could be the cause of two things, a rhino, which would almost be impossible to get through a good screening process, or a hoarder tenant. Ahhh hoarder, this sounds like it might be it. Hoarders pose a danger to your property, but most importantly their own safety, and yes, sanitation, cleanliness and clean air for occupants. Hoarders are real and the damage they cause can be immense for an owner. Many times a hoarder can be screened, especially through a property management company who has professional screening tools. Our property management company in Corona CA, Signature Sales & Management, searches for items such as disturbance of neighbors, destruction of property, or any bad living or housekeeping habits. Remember hoarding is now a protected class, so be careful
In this article, we will read how to deal with a hoarder, and provide you with some insight, especially if it leads to an eviction.