Tip #242: It Takes a Village
Perhaps surprisingly, most of these falls do not occur in high rises. In a study, ninety eight percent of falls were reported to be from the third floor or lower.
New York personal injury lawyer Kenneth A. Wilhelm, who has represented children injured as a result of falls from windows, says these types of tragedies can be easily prevented.
First, rental property owners must follow their local building, fire and zoning laws to limit the risk of injuries.
Additionally, landlords and tenants can work together to make rental properties safer:
Don’t place furniture near windows where children can climb. Continue reading “Landlord Quick Tip” »
1. The Rent is Too High
Too often landlords purchase rental properties based on the appeal of the deal, not on the overall appeal of the property to renters. Investors looking for higher margins can crunch the numbers and pump up the rent. Unfortunately, renters may not play along.
Be realistic and match rent to the competition available at the time the unit comes on the market. Or better yet, come in just a little bit lower than the comps. That $50 difference, spread out over a year’s lease, may be better than another month with the property generating $0. Continue reading “Got Vacancies? The Top 4 Reasons Your Rentals Are Empty” »
Bankruptcy Auction for the District of Maryland
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Selling to the Highest Bidder
January 15th – 10:00 am
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The most notable changes, which began in select states in October, and now appear to encompass all housing ads, deal with limitations in the use of HTML. Specifically, those posting ads can no longer automatically syndicate flyers or other pre-formatted ads onto Craigslist’s site. The use of photos is limited, and so is the use of live links — hyperlinking over words in the ad so viewers can connect to websites or web ads with just one click. Continue reading “Tips for Navigating the New Craigslist Rules” »
According to a report, the tenant suffered injuries in excess of $50,000 when she slipped on the bathroom floor of her apartment. She is asserting that the tiles were improperly installed, and that the landlord failed to:
Properly inspect the area;
by Paul J. Kaliades, President Renters Legal Liability Insurance LLC
A property damage loss waiver (“PDLW”) program is a damage liability option that provides multifamily property owners and managers financial protection if a participating resident negligently causes damages or losses to the community or building.
Causes include fire, smoke, explosion, accidental water discharge and sewer back up.
What many property owners and managers nationwide have learned is that a PDLW can increase their portfolio value in very real terms.
How Does a Property Damage Loss Waiver Increase Your Portfolio Value? Continue reading “How a Damage Loss Waiver Increases Your Portfolio Value” »
The program was created to assist landlords, condo and co-op owners, renters and brokers in closing residential leases and reducing vacancies without cost for owners.
Insurent added many owners and thousands of apartment rental buildings in Chicago, NYC, Washington D.C. and Boston in 2013, and those numbers are climbing on a weekly basis, the company says.
Jeffrey Geller, Chief Operating Officer, attributes the climb in participation directly to the usefulness of the product in closing leases, and word of mouth from happy landlords and property managers who have eliminated rent losses. The program is indispensable when considering qualified international renters without US credit, as well as renters who are self-employed, retired, young professionals or students. Continue reading “Rent Guarantee Program Booming” »
Tip #241: Set the Stage
Checking the condition of the property is a must for two reasons:
You discover hidden damage while there is still time to deduct costs from the former tenant’s security deposit; and,
The new tenant won’t lose faith in you because the unit needs several repairs right out of the gate.
So, when it comes time for turnaround, make sure you take the time to thoroughly check out the property: Continue reading “Landlord Quick Tip” »
But you can easily outsmart sneaky tenants by watching for the most common pattern:
The preferred strategy for many problem tenants is to sneak in using someone else’s lease. Sometimes that’s the plan all along. In other cases, the problem tenant moves in mid-lease. Either way, there’s an easy fix:
1. Always run tenant screening checks on all proposed occupants over 18 years old before you provide a lease. If one tenant is unacceptable, reconsider leasing to the others.
2. As additional protection, make sure your lease has a strong guest policy. It should include a provision that holds tenants responsible for the actions of short-term guests, subject to eviction. There should also be a limit on how long a guest can stay before they are required to apply to be added to the lease. Demand the right to screen long-term guests before adding them on. Those who refuse to complete a rental application, or who don’t qualify for a lease must leave, or the tenant will be evicted. Continue reading “4 Ways to Outsmart Sneaky Tenants” »
Restoration Local, one of the leading providers of water damage restoration in the United States, sees that rental property owners need protection.
That’s because rental properties can be more prone to damage. Changeover of residents and occasional vacancies can turn small problems into catastrophes. Winter weather only adds to the problem.
So, the company offers these tips to landlords in order to avoid costly repairs:
Have a professional roofer come and inspect the roof of the property at least once per year. Some companies provide this as a free resource, checking shingles, gutters, flashing, and all roof components. A compromised roof means easy access to the property by water, and should always be properly sealed to avoid any small leaks from gaining a foothold. Continue reading “Rental Property Damage: Avoiding Enemy Number One” »
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