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Owning rental properties is a lucrative investment, but it also comes with a significant responsibility. Many landlords put a lot of effort into finding and managing tenants, but essential annual tasks often go overlooked. This guide will discuss ten crucial things landlords should do yearly to maintain their properties, ensure tenant safety, and protect their investments. Whether you're a seasoned property owner or just getting started, staying on top of these tasks is essential for a successful rental business. Recalculate Fair Market Rental…

As a landlord, determining when and how much to raise your tenants' rent is one of the toughest decisions you'll face. On one hand, increasing rent is a natural part of maintaining the long-term viability of your investment property. But choosing a new rent price can be trouble for tenants. Costs such as taxes, insurance, and maintenance are continually rising, so your rental income needs to keep pace. However, raising rents too high or too often risks losing good tenants who keep your units occupied and your cash flow steady. By carefully con…

Every landlord needs to take mold growth seriously. Mold exposure can cause serious health effects in addition to unpleasant smells and being an eyesore. Mold thrives in multiple regions, making it a top environmental and health hazard. It grows on any surface with past or present water leaks or damage. In rental homes, mold grows in damp areas like bathrooms, basements, or attics, and it loves warm, poorly lit, minimal air flow areas. Mold is also known to develop in new homes due to moisture in building materials. Although mold growth is o…

The "implied covenant of quiet enjoyment" is a real estate term that may not be clearly covered in the leasing agreement. But tenants are afforded this right regardless of whether it is on the lease or not. The “implied covenant of quiet enjoyment” protects a tenant’s right to stay in a rental home and enjoy a peace and quiet. So, it is essential for landlords to be aware of this covenant and fully understand it. McKenna & Vane Property Management have put together this article in the hope that all landlords understand their rights and res…

Investing in real estate has long been recognized as a pathway to financial success, and investment properties offer a lucrative opportunity to generate passive income and build long-term wealth. However, navigating the complex world of financing investment properties can be daunting for property investors. From securing the necessary funds to understanding the various financing options available, the journey to financing success requires careful consideration and expert guidance. This comprehensive guide will explore proven strategies and fin…