We have been fortunate to have the same family reside in our rental townhouse for 23 years! When they applied to rent the townhouse from us 23 years ago, they were having some credit problems so we requested that they provide 12 post-dated check every year. It worked out very well. They didn’t ask for […]
Posts with the property manager tag
#Landlord Survival in a #Pandemic! #landlords #realestateinvesting
Do you have a tenant who is having trouble paying the rent during the Coronavirus COVID-19 pandemic? The CARES Act, passed by Congress and signed by the President, gives tenants who are renting properties financed by Freddie Mac and Fannie Mae an extra 90 days to pay their rent without fear of eviction. Many states […]
A Cautionary Tale on Section 8 (Part 2) … #realestateinvesting #landlord #landlords
A cautionary tale continues from Part 1 … We decided to approve their application because the federal government pays the majority of their rent, and their disability checks are consistent and dependable income. Before the tenant moves in, an inspection must be conducted by the housing commission. The inspection was conducted a week later and […]
Stone Tile Floors Beautiful but Hard to Clean! #realestatetips #propertybrothers
Stone tile floors are very popular with homeowners and tenants, however they can be very difficult to keep clean. We have owned a 1 bedroom ground floor condominium for 30 years. The previous owner upgraded the kitchen floor from vinyl to a gorgeous red stone tile. Our most recent tenant was a couple with 2 […]
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When a Police Officer Applies to Rent from You! #propertymanagement #landlord #landlords
We own a 2 bedroom 1 bath condominium in a working class class neighborhood. Sometimes, there are security issues, such as burglary, vandalism, and car theft. Therefore, when we screen tenants, we look for tenants who don’t scare easily. When we rented to the previous tenant in 2015, the rent was $1150. Now, we are […]
The Downside of Being a #Landlord … #landlords #propertybrothers #realestatetips
There are numerous financial benefits to investing in real estate and becoming a landlord, however there is a downside to managing your own rental properties. The key to being a successful landlord is to: Pick good tenants Have the personality and interpersonal skills to manage tenants All is well when tenants are paying their rent […]
Ending a Tense Landlord-Tenant Relationship! #propertymanagement #propertybrothers
Approximately 3 years ago, we rented a 2 bedroom 1 bathroom condominium to a young man. He was married but leaving his relationship with his wife. We felt fortunate to find a good tenant because the rental property is in a low to lower-middle income neighborhood. His credit wasn’t so great but he had stable […]
When Mother is Looking for #Rental for Adult Child … #tenantscreening #propertymanagement
We just posted an advertisement for a 2 bedroom condominium available for rent. An older woman called to say she is looking for a place for her son. We asked for her son’s age … she said he’s 45 years old. Red flag! Over the years, we’ve had several calls from parents looking for a […]
Chasing #Foreclosures! The Kitty Kat Condo! #foreclosure #realestatetips
It’s Foreclosure Saturday! We have a standing appointment every Saturday to meet with our Real Estate Broker and look at foreclosures. We believe the real estate market is poised to take off and we want to be on-board the rocket ship! Therefore, we are always looking. When you think of foreclosures, you probably think of […]
When You Like #Tenant Who is Behind on Rent! #propertymanagement
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 […]