Things Landlords Should Be Doing Every Year But Probably Aren't
Owning a rental property brings its own set of challenges and responsibilities. From looking for tenants to ensuring the smooth functioning of every appliance, the role of a landlord is far from static. Yet, in the whirlwind of everyday tasks, it's easy to overlook specific annual duties that, while only sometimes urgent, are crucial for maintaining a secure and harmonious living environment. Below are key considerations and innovative practices every landlord should do yearly to elevate the property management experience: Ensure Tenant Safet…
Why Successful Real Estate Investors Partner with Property Management Companies
In the world of real estate investment, many successful real estate investors find value in teaming up with property management companies. These partnerships offer a range of benefits that can significantly contribute to the overall success of their real estate ventures. In this blog post, we'll explore the reasons behind why many accomplished investors choose to work with these companies. Let's get started! The Role and Responsibilities of a Property Management Company A property management company takes on the crucial role of overseeing an…
Why Pet Screening Is Always a Good Idea
The comfort that pets offer has led to a general rise in pet ownership. As a result, tenants often look for rental homes that allow pets. For landlords, this offers an excellent opportunity to earn additional rental income. It's possible to draw in new tenants and keep your current ones by being accommodating with your pet restrictions. It is common knowledge that having pets around increases the risk of damage to your rental property. Neighbors might complain to you about the noisy disruption that pets can cause. If you're considering renting…
What Landlords Should Know About Move-Out Letters
One of the most crucial moments in managing rental property is the move-out process. An important component of this process is the move-out letter, a document helps landlords foster positive landlord-tenant relationships. As a landlord, it’s essential to understand the importance of writing move-out letters as they help you ensure that your tenants vacate your property on time. In addition, a well-crafted move-out letter can help reduce potential miscommunication between you and your tenants. In this guide, Drew Doheny Property Management Team …
Risks of Having a Vacant Rental Property
One aspect of property ownership that often goes overlooked is the risk of having a vacant rental property. A vacant property can pose significant financial, legal, and safety risks for landlords. In this comprehensive guide, we will explore the various risks associated with having a vacant rental property. Financial Risks of Having Loss of Rental Income One of the most immediate and pressing financial risks associated with a vacant rental property is the loss of rental income. When your property sits unoccupied, your primary source of revenue …
