Managing the regular needs of renters is demanding enough and bad tenants only add extra stress.
Building ownership means you’re on the clock 24/7. When a tenant needs something, you must answer the call. Bad tenants only contribute extra chaos and negativity into your jam-packed schedule. Spot the warning signs of bad tenants and learn the skills to handle difficult situations and you’ll see a great benefit your business and your surrounding “good” tenants. Understanding the right way to interact with bad tenants is vital to the success of your properties and the overall housing experience for your other renters. After all it only takes one bad apple, or in this case, bad tenant, to spoil the whole building.
A strong understanding of landlord rights will help you better manage your properties while fostering positive relationships with your tenants.
Landlord rights are laws and rules established to protect housing managers and their property. A fair rental agreement should protect both landlord rights and tenant rights, ensuring a healthy landlord-tenant relationship and clear communication between parties. As a property manager or building owner, you must find the balance between accommodating the needs of tenants and protecting your property (and your wallet). Here’s what you need to know about landlord rights.
Paper, paper, paper. Whether you run a restaurant, own a hotel or manage an apartment, paper is probably a huge part of your life. It’s still a fundamental tool of business management today, but it’s increasingly becoming less and less necessary. If you’re thinking of switching to digital, the time is now.
Turn a hard-to-market small studio apartment into a high-demand property with simple tips to boost the appeal.
Small studio apartments are often thought of as challenging units for property owners to fill. Striking the right balance between affordability and profitability is the challenge to finding tenants, but if the space is marketed correctly, the pool of potential renters opens up significantly. Proper marketing requires capitalizing on a product’s appeal. Small spaces offer many advantages for smart renters. All it takes is basic marketing prowess and thinking outside the (small) box.
Every landlord knows, renters often need a lot of information before they sign the dotted line.
Just when you think you’ve heard every question out there a renter will come up with a new one. Can I install a solarium? Do you allow pot-bellied pigs? Do you mean, I’M responsible for cleaning the oven? Most building-managers have heard it all. While you can’t anticipate every question, there are many you can. Here are the 12 basic renter questions every landlord should be prepared to answer.
Attract renters by ensuring your properties are kid-friendly and child-safe!
Property owners know, every apartment must be safe for every age (and the Fair Housing Act protects all families who wish to rent). Rather than looking at child-safety as another task on your to-do list, savvy landlords know that appealing to families is important. Families with kids are often stable, responsible renters—here’s how to create a child-safe property to attract great tenants.
Spring is a time of renewal. As the flowers bloom and the birds return, rental agreements start to reach their conclusion. Whether in a college town where students leave for the summer, or a complex where wedding season means couples move out and into their first home, spring often brings “now renting” signs. Potential renters often decide whether or not to consider a building at first glance. To avoid vacancies, it’s crucial you increase your building’s curb appeal.
The ideal tenant is within your reach. Rental property repair and improvements are a worthwhile investment to increase occupancy in your building.
The rental market is growing, particularly in urban areas. More people are opting for the convenience of renting and living in town—which is great news for property owners, particularly in cities. While you can’t change your building’s location, simple property repair, improvements and upgrades will easily increase your appeal to the ideal tenant. Not only will upgrades boost your occupancy, you’ll retain great tenants who are willing to pay a little more for their ideal property.
Understanding how to manage dry air ensures you, your guests and tenants remain healthy and happy.
As beautiful as winter months in the Midwest are, there are a few seasonal pitfalls. Of course, we all think of frightful frigid weather outdoors, but the warm and cozy indoors offer drawbacks as well – primarily dry air.