Before forming an LLC, you need to consider if it’s the best decision for you and your rental property. There are some very compelling reasons to form an LLC. There isn’t one answer that applies to all property owners, which is why you need to do your research to see if it’s the best fit for you.
Investing in property can be a great financial accomplishment, but it can also take a lot of work. That’s why hiring a property manager can be extremely beneficial. Keep reading to find other reasons why you should hire a property manager.
Whether to rent or buy the place where you will be living is a major decision that will affect your lifestyle and size of savings that you accumulate over the years. Renting offers flexibility, predictable monthly expenses, and someone to handle repairs while homeownership brings a sense of stability, belonging to a community, and pride of ownership, along with tangible benefits like tax deductions and equity.
Being a hands-on landlord is hardly glamorous, and at times it can be tedious, and a lot less profitable than many make it out to be—especially when you factor in your time. There are definitely many benefits to owning real estate and investing in income-producing rental property. There can be great cash flow, high returns, …
What if losing a job, even temporarily, means you cannot pay your rent? As more and more states impose lock downs or stay-at-home orders to prevent further spread of COVID-19, renters, who are among the most vulnerable when it comes to housing security, wonder what relief they could have to help pay the rent or avoid eviction. …
Interior paint is both an aesthetic boost and practical need for rental properties, and landlords will have to deal with paint at some point in their management and maintenance duties. The Appeal of Fresh Paint The smell of fresh paint and the look of bright new walls is highly attractive to the occupants of any …
Reduce the Risk of Court If you’re concerned you may have to take your tenant to court for refusing to pay rent while the unit is vacant, an early termination clause is a good way to reduce that risk. In the event you do have to take your tenant to court, your best evidence is …
Life Happens Life happens, but it rarely happens to conveniently coincide with the end of a lease. Your tenant needs to terminate their lease early, but signed a legal document with binding terms, including to pay rent through the end of the lease. However, as much as the lease serves to protect the landlord, there …
We find ourselves in strange times. Widespread stay-at-home orders and pervasive social distancing have left Americans feeling confined at the best of times and incarcerated at the worst. We are all adapting to the COVID-19 lifestyle as best we can, but many still have questions about how they are supposed to fulfill their promises and …
COVID-19 is taking a severe toll on the balance of American life, leaving millions jobless and accruing outstanding debt in the form of bills and missed mortgage or rent payments. The federal government recently passed the CARES act to try to blunt the blow to our economy by giving renters and homeowners the option of …
