Require Your Tenants to get renters insurance
According to a survey by Allstate insurance, 60% of tenants nationwide do not have renter’s insurance. The cost of renter insurance is very cheap, usually $15 to $20 per month, and within the price range for most tenants who are not absolutely destitute. Some landlords are requiring their tenants to carry renter’s insurance because it protects the landlords cash flow. [...]
Building gets makeover with tenant screening
Creative Management in Columbia, South Carolina has received some positive press for instituting a new tenant screening and eviction program at the Broad River Terrace apartment complex. The building has 103 units and had a reputation for violence, criminal and gang activity. The new owners instituted a strong tenant screening program after taking ownership in 2003, and crime [...]
Chicago tenants may get protection against foreclosure evictions
Chicago tenants who face eviction due to landlord foreclosure may receive some additional assistance from City Hall. The plan is being put forth by the Chicao mayor Daley, which will provide up to three months of rent and moving expenses for tenants affected by the landlord foreclosure. The new bill is also looking to expand [...]
Tenant Screening for first time landlords and property owners
With a slow real estate market, the inventory of rental homes has increased, many with first time landlords. The amount of renters has increased as many new home owners cannot afford to pay their mortgages. Sometimes owners will attempt to find tenants themselves or use a mortgage company. Home owners are advised to screen their [...]
Marketing Timing makes unlikely Landlords
With real estate prices falling in most markets, some property owners are renting out their homes while they live in apartments. They are waiting for the property values to increase before they sell and move on.
The housing market morass has created a new class of real estate investors: the accidental landlords. Some, like Mr. Vallance, [...]
SuperBad Tenants: a landlord nightmare
Channel 34 news in binghamton New YOrk has a great story about a super bad tenant that wil make your head shake and your wallet cringe. There’s a stereotype in our culture about bad landlords but not one about problem tenants. There could be after reading this. According to the article, it’s common for tenants to trash apartments, and [...]
Criminal Tenants to face eviction in New Jersey
Problem tenants who commit crimes may have a tough time holding onto their apartments if a new inititive is passed Millville, New Jersey. The City Commission is exploring a new program which will allow landlords to work with the police and speed up evictions for crimes that occurr on their property.
Under the program, police would [...]
Difficult times for landlords and tenants
The bad economy is causing difficulties for landlords and tenants. Landlords are having a hard time collecting rent and evictions are on the rise. Tenants wages are not keeping up with the cost of living. Recently in Yonkers, tenants and landlords met with the Westchester County Rent Guidelines Committee ti discuss the issue.
Sounding much more [...]
Renting out your home
Chicago Sun times discusses the pros and cons of renting out your old home while you wait for it to sell. In this tough selling environment, renting your home can be a good source of income to cover the mortage. However, becoming a landlord can be a time consuming task if you haven’t done it [...]
Tips for New Landlords
Everything about landlord has a great tip list for prospective landlords. As with any new business decision, it’s important to conduct your own feasibility study and prepare a business plan. The emphasis here is on research and analysis. While you may be passionate about becoming a new landlord, it’s important to conduct your research and then examine the facts with discerning mind, [...]
