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It's not always easy being a landlord. Finding quality tenants, maintaining your home, and making a profit is much easier said than done. Most landlords and real estate investors know the importance of marketing in attracting quality tenants to their properties and minimizing vacancy times. Unfortunately, they risk damaging their chances of success by making several typical errors. In commercial real estate, marketing errors can cost you leads and missed revenue prospects. We at McKenna & Vane Property Management have compiled a list of m…

Investors globally have turned to real estate when making long-term investments that promise returns. It’s one of the most reliable investments you can make. However, it’s not as simple as just purchasing a property. As an upcoming real estate investor, you need to be familiar with the industry’s jargon and have solid knowledge to back it. To help you with this, below are twenty-five terms all real estate investors should know! Rental Property This is a property that generates the proprietor/investor a monthly income by renting it out for resi…

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…

A landlord or property manager oversees passing a move-out letter to their renters. Though it seems an undesirable task to perform, it’s an essential part of the role. It helps you minimize financial losses or complaints when a tenant fails to pay rent, commits massive property damage, other lease violations, or continues to create a public disturbance. Writing a move-out letter serves as protection when you encounter tenants that resist moving out at the end of their lease. You can state the move-out date and your expectation of the unit bein…

End-of-tenancy cleaning is comprehensively cleaning a rental home before a tenant vacates. In order to ensure that the property is returned in its original condition, it requires cleaning every part of it, including the floors, walls, carpets, furniture, and appliances. This cleaning aims to restore the home to its prior state so that it can be rented to new residents. You can do it yourself or hire a reputable end-of-tenancy cleaning service. Doing it yourself can frequently be more affordable and provide you the assurance that all the rooms …