Landlords are allowed to collect security deposits from tenants. The maximum amount of security deposit you can charge depends on where you are located. In California, you can charge up to a maximum limit equivalent to two months’ rent. Security deposits are often used to cover damages that are not part of normal wear and tear. Sometimes, they are…
Investing in real estate is one of the best ways to grow your wealth, and one of the most lucrative investment strategies is investing in rental properties. However, while owning a rental property is a great way to earn extra income, being a landlord comes with its challenges. The stress of being a landlord can be overwhelming if you…
What happens if a tenant wishes to vacate or if the length of their tenure has ended? A number of activities must be agreed upon including inspecting the property, gathering the keys, returning the security deposit, and more. A move-out letter is a formal written communication from an owner to a tenant informing them of the dates on which…
There are times when a tenant stays at a property after the official tenancy has concluded. These tenants are known as holdout tenants. Removing them from the property can be a delicate and complicated process. Keep reading to learn about holdout tenants and your options if you’re dealing with one that refuses to vacate after their contract runs out….
Most property owners in the industry know that property management is not a typical 9-to-5 job. A large amount of time and planning is needed for maintenance. Any form of maintenance involves planning, resources, and time. Effective repair policies depend on having a clear knowledge of what constitutes an emergency and what does not, as well as having a…
Property owners constantly seek fresh and original approaches to attract prospective renters. Due to the internet, property owners now have a simpler way to market their properties. In addition to using property photographs as a marketing strategy, you can also employ rental video tours. When you create a video tour of your rental, you might increase the number of…
As a rental property owner, you have to know how to keep your investment home safe. After all, your rental property is your income-generating asset. It’s also your responsibility as a landlord to provide a secure and safe place for your tenants. That is why it’s essential to take several precautionary measures to heighten your property’s security. Your goal…
Have you just bought an investment property and are thinking of managing it on your own? This can be a very rewarding endeavor! Keep in mind that managing a rental property is no small feat. From finding tenants and screening tenants to responding to maintenance complaints and dealing with tenant issues, managing a property can be stressful and time-consuming. That…
Are you bringing your property to the rental market for the first time? Or, are you struggling to fill a vacancy? If so, you’d need to determine the correct rental price to charge. The rental price can make or break your efforts of renting out your Anaheim property. Your goal should be to find the perfect balance by not…
The furnishings you’ve purchased when your property is new are bound to deteriorate over the years. “Normal wear and tear” or “reasonable wear and tear” are terms used to describe rentals that have depreciated when a renter is occupying your rental space. This damage does not occur out of a renter’s abuse or neglect. Landlords must be aware that…
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