Property Management News

Tips on setting rent, drawing up contract by Robert Griswold Q: Almost two years ago I bought a condominium unit in my area as an investment. My tenant has been pretty good about paying the rent and has not caused any problems. Her one-year lease is going to expire in less than two months and the weakened rental market has opened up a lot of vacancies in the area. As a relatively new landlord, I was hoping to see what you thought about my strategy for asking my tenant to renew her lease. I would let her renew at the current rental rate as long as she commits for at least 12 months. If she wants to go to a month-to-month rental agreement, I will concur but only if the rent is increased by... Read more

Is Landlord Shooting Self in the Foot with Sloppy Language? Rent it Right by Janet Portman, Inman News   Q: We’ve been asked to sign a long lease that has a very odd clause in it. It says, “Landlord is not liable to tenant if anyone is not permitted or is refused entry into the building.” What do you think this is all about? –Abe B. A: Your landlord may be worrying about litigation if the doorman, manager, supervisor or anyone else with authority attempts to limit entry to people other than residents. But it’s an odd clause, and probably worthless, because attempts to limit one’s liability in advance have to be carefully, clearly and narrowly drawn;... Read more