Property Management Blog

Key TakeawaysProperty management fees typically range from 7–10% of monthly rent: This covers essential services like rent collection, maintenance, and tenant support, with additional fees for leasing and renewals. Expect extra costs for maintenance, inspections, and evictions: Managers may charge a 10% markup on repa...

Key TakeawaysPrioritize Tenant Satisfaction to Reduce Turnover: Long-term tenants are key to minimizing vacancies. Property owners should focus on maintaining the unit, responding quickly to concerns, and fostering strong landlord-tenant relationships to encourage lease renewals.Proactive Communication and Early Renewals Matter: Starting ...

Key TakeawaysRental scams can harm your reputation even if you're not at fault – Scammers may impersonate landlords using real rental listings, leading to angry victims mistakenly blaming the actual property owner.Advance payment requests are a major red flag – Fake landlords often lure tenants with below-market rents...

Key TakeawaysCurb appeal significantly influences tenant interest – The property's exterior appearance often forms the first impression for prospective tenants, making it a critical factor in minimizing vacancies.Small exterior upgrades can have a big impact – Improvements like fresh paint, landscaping, and ...

Key TakeawaysRenting is a smart alternative in a buyer’s market: When your home isn’t selling due to oversupply or unfavorable conditions, renting allows you to generate income, cover your mortgage, and wait for a better time to sell without taking a financial loss. Landlords benefit from income and tax advantages: Rentin...

Key TakeawaysRenewal screenings help landlords manage evolving risks: Since tenants' financial or personal situations can change over time, re-screening at lease renewal helps landlords assess continued reliability, catch potential red flags early, and protect the property and community.Consistency and legal compliance are essential: ...

Key TakeawaysUnderstanding Normal Wear and Tear: It's essential to recognize that minor signs of use, like faded paint or worn carpets in high-traffic areas, are natural and should be expected over time. Distinguishing Damage from Wear: Differentiating between everyday wear and actual damage is crucial to avoid disputes and ensur...

Key Takeaways:Thorough Tenant Screening is Essential: Skipping background checks can lead to problematic tenancies. Always verify income, rental history, and conduct credit and background checks to ensure reliable tenants. Maintain Detailed Financial Records: Poor bookkeeping can cause financial mismanagement. Keep accurate records o...

Key TakeawaysBoosts Rental Income: Pet owners are often willing to pay higher rent or pet-related fees, increasing a landlord’s revenue potential.Attracts Long-Term Tenants: Tenants with pets are more likely to stay longer, reducing turnover and vacancy costs.Expands Tenant Pool: Accepting pets widens your pool of qualified renters,...

The key to a successful rental property is a good landlord-tenant relationship. The best renters reduce stress by paying their rent on time, taking care of the property, and getting along with other tenants and neighbors. Attracting reliable tenants can be a challenge, but once they’re settled in, it’s crucial to treat th...