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The maintenance of a rental property is a responsibility shared by both the landlords and tenants. As a matter of fact, it is stated in the landlord-tenant law that both landlords and tenants have equal responsibility in keeping the rental property in good condition. If you’re a rental property owner, you should understand how important it is to perform routine inspections in maintaining the upkeep of your rental home. Regular inspections can help you identify potential issues that may need repair before they become too costly to handle. Also…

Contrary to what most believe, landing great tenants isn’t based on pure luck alone. Great tenants are everywhere. You just need to learn how to capture their interest. Property managers often end up drawing high-quality renters. Here are tips to try so you attract excellent tenants out there: 1. Study your target market Check out the residents in your neighborhood. It already gives you an idea what demographic is choosing to live there. Check your rental’s features. Is it conducive to a young professional or is it large enough to house a f…

As a rental property owner, opening your rental home to tenants who own pets can come with a variety of advantages and disadvantages. It’s important to weigh your options and determine whether making your rental property pet friendly is the right decision for you. If you do decide to allow pets in your rental property, it’s always a good idea to charge a pet deposit and include a pet policy in your lease agreement. The Benefits of Allowing Pets in Your Rental Property While many landlords may be initially against allowing pets in their proper…

A rental agreement, also known as a month-to-month lease, allows a landlord to rent out their property without any long-term commitment. And just like a fixed-term lease, it’s a legally binding document between you and your tenant. A month-to-month is just that – an agreement that automatically renews every month until either party terminates it. But is a month-to-month lease better for landlords? Well, to find out, here are answers to commonly asked questions in this regard. Why Would a Landlord Choose to Rent Out Their Property Using a Mont…

If you’re planning to move somewhere, the first thought that strikes you may be selling your current home. However, selling your home when the market is in a downturn can leave you at a disadvantage. Property owners who want to wait until market conditions improve can decide to rent out their vacated home. A rental property generates a monthly income that can add to your finances until the economy is rising again. When you pressure yourself into selling your unit right away, the bidding price may be lower than your expectation. To avoid this, …