Rental Properties: 8 Things to Know Before Becoming a Landlord
Friday, December 28
1 Rental properties: Do it legally, or don’t do it.Just because you have space for a renter doesn’t mean you’re allowed to get one. Some municipalities don’t issue permits for secondary suites. If you build one anyway (there’s always a contractor out there who will do work without permits), and y...
Top 3 Ways to Fail as a Landlord
Friday, December 21
Now everyone always talks about the good things that happen and all the good things with rentals, but the reality is there are some bad things that happen when you own a property.It’s very easy to fail as an investor, and I think a lot of people need to know what those things are, because if and ...
4 Ways to Exit Your Rental Property
Friday, December 21
Now a lot of times when people buy a rental property, they don’t really think about how they’re going to exit the property. And even if you don’t plan to exit it, you always want to purchase it with that in mind. It’s like creating a business. You always want to create a business with the plan to...
4 Surefire Ways for Landlords to Get Their Rent Money
Monday, December 17
Being able to collect rent on time is one of the most fundamentally important aspects of being a landlord. Unfortunately, it’s also one of the aspects that feels most out of your control. Many new landlords think it’s up to the tenants to pay rent wherever and whenever it’s due and your only opti...
How to Deal With Bad Tenants
Friday, December 14
1. Tenants Refuse to Pay RentTenants can withhold rent from landlords for a number of reasons, from cash flow shortages or temporary unemployment, to repair and maintenance disputes. Communication is critical when confronting this issue, and it’s important to understand the tenant and the nature ...
Why Tenants May Not Pay Rent On Time
Monday, December 10
Why tenants do not pay their rent on timeThis is one of the biggest problems rental property owners face. The tenant tells you they are going to pay. Maybe they do pay for a couple months, and then suddenly they don’t pay.People are reactive not proactiveOne of the challenges that we have in this...