Rent Escrow is a legal tool designed to protect tenants from rental property issues, protect landlords from non-compliance with contractual obligations, and serve as an extra precautionary measure against issues. It may also explain or eliminate certain provisions. What Is Rent Escrow? Rent Escrow allows tenants to deposit their rent into an escrow bank account…

Flood damage to rental properties can be costly for landlords and managers, causing significant repairs and inconveniences for tenants and themselves. To safeguard investment and ensure tenant comfort, proactive measures should be taken by landlords and managers to prevent flooding. Maintain and inspect gutters and downspouts regularly Regular gutter and downspout cleaning will prevent clogs…

“Cash for keys” refers to an arrangement in which landlords offer tenants money in exchange for them leaving voluntarily and expediting the eviction process without incurring legal costs. Though such offers might appear appealing at first, landlords must proceed carefully and consider any possible drawbacks before offering cash-for-keys arrangements to tenants. Reasons landlords should hesitate…

Security deposits are given as payment to landlords or managers when tenants move into rental property, to safeguard against damages that go beyond normal wear and tear or unpaid rent during their lease term. Tenants must understand how they can claim back their deposit upon leaving. Review your lease agreement carefully, especially the clauses related…

Subletting can be an awkward issue for both landlords and tenants alike. Subletting is the act of renting out property to third parties under lease terms for use as subtenants for part or all of that lease term period, known as subtenants. As both tenants and landlords explore subletting options both must understand the legal…

Upgrading your rental property is always worthwhile and will attract more tenants, increasing rental income. Unfortunately, not all improvements provide a good return on investment; some upgrades may cost too much money and take too long without adding much or any value at all to the property. Below are a few upgrades landlords need to…

Warranty contracts are legally binding agreements between buyers and sellers that state the latter will repair or replace any product defects within an allotted time frame after the sale. What exactly does a warranty agreement entail? Warranty contracts cover defects in craftsmanship, materials, or performance of manufactured items and repairs performed under warranty agreements. They…

Vendors play an indispensable role in property management. Their services help maintain and increase the value of a property. Finding a vendor to meet your property management needs is crucial. When selecting one for yourself, consider these key criteria to find an ideal match: Experience and Reputation Vendors with demonstrated experience and an impeccable market…

Your property investment’s success hinges on its location. Keep these aspects in mind when searching for suitable places to acquire and manage real estate investments. Market Trends When selecting investment opportunities, it is crucial to research market trends. Look for areas with longstanding appreciation and low vacancy rates as these may also support strong economies…

Understanding the tax repercussions associated with investing in rental properties, especially under new tax plans, is of critical importance. Here is what you should keep in mind before purchasing property for rental purposes under these new plans: Changes to Mortgage Interest Deductions The new tax plan has made changes to how mortgage interest can be…