Property Management Insights

Train your tenants to be great tenants. Great tenants are hard to find so it’s up to you to make sure tenants know the rules and consequences. No matter how small a rule is, include it somewhere in the lease. When your tenant breaks a rule, enact punishment, which should al...

Toilet clogs are one of the most common repair calls made by tenants. Be sure that your lease clearly outlines what IS/NOT permitted to be flushed, ie no diapers, paper towels, or baby wipes. Clearly spell out that if the Tenant causes the clog, they are responsible for the costs...

Treat your rental like a business - because it is. Even if you only have one property, act like you are managing many. Use purchased leases so you are appropriately protected, act professional in front of your tenants and prospective tenants, maintain accurate books, put processe...

Early termination. No one likes a surprise termination by their tenant so to help ease the pain, make sure your lease has an early termination clause that outlines fines the tenant will incur. You can use these fines as a negotiating tool to ensure your property is readied withou...

Rental property = tax advantages. Keep track of everything you spend using a separate bank account and credit card. Keep all receipts. At the end of the year, you'll be able to write off interest, depreciation, materials, supplies, travel, insurance, legal and professional se...

It is not good business practice to allow a tenant to make a needed repair and deduct it from the rent. When asked, thank the tenant but let him know that you want to stay in compliance with the lease and will send a professional. Don't get into the habit of letting your tena...

If this pandemic taught us anything, it demonstrates the need to ensure your rental is cleaned periodically while on the market. Not only should you wipe down door handles and banisters with Lysol or bleach, but you should also give it a light vacuuming and dusting. In the yard, ...

Give yourself time to think. Whenever your tenant calls you to ask for a "special favor", such as paying rent late or wanting you to replace the carpet, tell your tenant that you will get back to him within the next day or so. This gives you a chance to think without be...

Record all tenant repair requests. Make your number 1 policy (and follow through!) with tenants that all repair requests should be in writing. Have them send you an email with as much details and photos as possible. Your response should always be to reply as to when the repairman...

Collecting past due rent from your tenants is a job many owners find distasteful. Make sure your lease clearly spells out the consequences for late rent, send your demand notice, and file eviction if you don't get paid. Do not accept partial payments as this starts you down t...