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As landlords, ensuring the safety and well-being of your tenants and their pets is important. While you may not be responsible for the health of your tenants' pets, allowing pets on your property can come with certain risks and liabilities. Pet screening can help mitigate these risks by identifying potential health or behavioral issues that could threaten other tenants or the property. Additionally, by requiring pet screening as a part of your rental agreement, you can demonstrate your commitment to maintaining a safe and healthy living envir…

A 1031 Exchange allows an investor to exchange one property for another and have it be tax free. It gets its name from Section 1031 of the U.S Internal Revenue Code, which spells out the rules that an investor must abide by when exchanging an investment property for a replacement property. If you follow the exchange process correctly, you may be able to defer capital gains tax payment almost an infinite number of times. Consequently, you may be able to build significant wealth over time as you exchange one rental property for another. As part …

Providing a safe rental home is included in the landlords’ duty of keeping a habitable living space for renters. After all, security is a tenant's first priority when choosing a place to call home. If you want to remain compliant with safety standards, you would need to perform property walkthroughs, consistent property inspections, and preventive maintenance to reduce further expenses. Marketing your rental unit is easier if you offer security and safety. Outside of trespassers, you also need to focus on keeping your home systems in top condit…

If you opt to be a DIY landlord, there are certain pitfalls you need to avoid. You want to avoid costly mistakes and stress from lawsuits or dealing with time-consuming evictions. Review these common mistakes DIY landlords often commit: 1. Failing to have a written lease or rental agreement Rental agreements serve to protect the interest of the landlords and set the terms and conditions properly. Foregoing a written leasing agreement can lead to potential issues when problems crop up. If you don’t have an on-hand lease for reference, it’s a…

Home safety is a vital concern for homeowners and property managers alike. It is essential for the well-being of residents and their possessions and also plays a crucial role in protecting the property's value. A safe home provides a sense of security and comfort for the residents and helps protect the property from potential risks and threats. As a property management company, McKenna & Vane understand the importance of keeping homes safe for residents and investments. In this article, we will provide tips on how to keep your home and in…