How to Know if Your Rental Meets Safety Standards?
As a landlord, ensuring the safety of your rental property is one of the most important aspects of property management. With your rental being safe, you can not only ensure long-term tenant retention but also the quality of your property over time. In this guide, Action Properties, Inc. will navigate the essential checkpoints to help you safeguard your rental property. Let's look into the key considerations that will not only keep your property up to code but also foster trust and satisfaction among your tenants. Legal Requirements Understandin…
Continue Reading...Is a Month to Month Lease Better for Landlords?
Leasing properties is a significant aspect of real estate investing, and the choice between month-to-month leases and fixed-term leases can greatly impact a landlord's business strategy. Understanding the pros and cons of different leasing options is crucial in making an informed choice that aligns with your investment goals. What is a Month-to-Month Lease? A month-to-month lease is a rental agreement that renews each month automatically. Unlike a fixed-term lease, which binds both tenant and landlord for a set period (typically a year), a mont…
Continue Reading...Top Tenant Complaints and How to Solve Them
Landlords play a vital role in ensuring their rental properties are safe, comfortable, and enjoyable to live in. One key aspect of this responsibility is effectively addressing tenant complaints. To foster a positive landlord-tenant relationship, landlords should be aware of the most common grievances tenants have and know the effective strategies for resolving these issues. Here are the most common complaints from tenants and how to solve them: Maintenance and Repair Issues A frequent area of concern for tenants involves maintenance and repair…
Continue Reading...Essential Tips for First-Time Landlords
Renting out your house can be a lucrative venture and provide a stable passive income for you. But managing a rental property is far from simple. Landlords must take charge of property maintenance, rent collection, addressing tenant requests, property inspections, and even bookkeeping. Doing all these things by yourself can be stressful, especially if you’re just getting started. Putting your home for rent for the first time can be a daunting and challenging process, but you can rest assured that the effort will be worth it. To help you become …
Continue Reading...The Risks of Having a Vacant Rental Property
Renting out your house can be a great financial decision, as rental properties are a great way to earn a stable passive income with little work. However, landlords should beware of long vacancy periods. Whether it’s because your tenants had to break the lease early, you rent month to month, or you haven’t found new tenants after the previous long-term ones left, you’ll experience vacancies in your rental from time to time. If you’re unable to fill your vacancies quickly, you could potentially lose a lot of money. Vacancies don’t only mean a lo…
Continue Reading...