We have a one bedroom condominium with a tenant who has been renting from us for 8 years. She is a 33 year old single professional who has paid her rent on time. She rarely calls or complains, so we don’t increase her rent at the rate in inflation. As a result, her rent is […]
Posts in the Property Management category:
How to #Save $1,500 on #HVAC! #propertybrothers
A few years ago we purchased a 2 bedroom 1 bath foreclosure condominium in a highrise building built in 1966. The condominium has 3 old HVAC systems that are fan coil units. All 3 appeared to be original equipment so we knew they would need to be replaced them at some point in the near […]
Chasing Squirrels in the Attic! #propertymanagement
We have a 4 bedroom 3.5 bath townhome that is currently rented by a family. We received a note from them regarding “scratching” noises in the attic at night. This sounds familiar to a call we received a few years ago from a different tenant. Wierd sounds in the attic or ceiling usually mean squirrels […]
Ground Floor Condo Plumbing Backup & Leak! #waterdamage #propertybrothers
The disadvantage of owning a ground floor condominium is that “everything flows downhill …” Whenever there is a backup or stoppage, it occurs at the ground level due to gravity. We have owned this particular condo for 27 years, and have never had any major problems with it. Our tenant is perfect because she pays […]
Replace Wood Retaining Wall with Concrete? #propertymanagement
We have a rental property (townhouse) with a wood retaining wall that keeps soil from sliding downhill from the property next door. The wall is at least 25 years old, and it is now leaning due to very heavy snowfall last winter. A contractor suggested using concrete blocks for the replacement, which would require less […]
4 Steps to Get #Property Ready for #Rent! #propertymanagement #landlord
We have a 3 bedroom brick townhome ready for rent! It has 3 levels of living space, 1 full bathroom, 3 half baths, and a stunning brick fireplace in the lower level family room! Our lease requires that tenants have the rental property professionally cleaned when they move out. Our strategy for getting the property […]
#Plumbing #Leak Damages Ceiling & Walls! #propertybrothers
We own a 2 bedroom condominium that we purchased last year. The unit above ours was foreclosed around the same time, and a new owner purchased the above unit about 6 months ago. We were able to take a peak at the above unit while it was vacant and it needed lots of work. A […]
Increase Monthly #Rental #Income by Adding Full #Bathroom! #propertybrothers
We recently purchased a 4 bedroom 2.5 bath townhouse foreclosure. We plan to rent it out, but first, we want to increase the market value and monthly rental income by adding a full bath! The 4th bedroom is on the lower level. We just added a walk-in closet to the 4th bedroom. To learn more […]
Raise #Rents Regularly! #realestate #landlord
When we began investing in real estate 25 years ago, we didn’t raise rents on a regular basis. We were afraid that raising the rent would cause the tenants to move. We now realize that was a mistake. For example, we have a tenant who has rented a townhouse from us for the past 20 […]
3 Tips – Quick #Tenant Turnaround! #realestatetips #tenants
For landlords, managing the exit of a current tenant and finding a new tenant directly impacts the bottom line (i.e., cash flow). Over years of trial and error, we believe we have perfected the “tenant turnaround” process. For example, we have a 1 bedroom ground floor condo and we recently received notice from our tenant […]