When you purchase an investment property, you have two management options: property management or self-management. Regardless of what you decide to go with, rental management includes all tasks related to rent, tenants, property maintenance and repairs, business operations, and more. Hiring a property management company means you will pay a percentage of your monthly rental... Continue Reading →
Why Not Sticking to Your Late Fees is Hurting Your Landlording Business
A grace period is additional time given to the tenant to pay their rent before they will be charged a late fee or given eviction notice. For example, rent may be due on the 1st of every month, but the tenant has until, say, the 5th to make their payment. Grace periods can be anywhere... Continue Reading →
3 Things I Love & Despise About Being a Landlord
Buying and holding income-producing rental property is great. It offers the potential for passive income, long-term wealth building, and tax benefits. Still, trying to manage your rental properties yourself can really create a love-hate relationship with your investments. Here are three of the things I love about it—and three things I despise. 3 Bad Things About... Continue Reading →
5 Habits You Didn’t Know Were Essential for Landlording
There’s no such thing as landlord school. Most landlords just do a little reading online and dive right in. Which is fine – but it also means many new landlords are ill-prepared for the work of being a successful landlord. Far too many landlords fail to bring a level of professionalism to their landlording side... Continue Reading →