(This post is part of our “Landlord Basics” series, which seeks to help the new landlord / investor understand some of the basics of tenant relations and property management. You can view the rest of the series here.)
You’ve found the tenant you want to place in your property, collected a security deposit, and now it’s time to sign a lease. What is a lease? What makes one lease better or worse than any other? What can your lease do to protect you as a landlord or investor? This article will answer all these questions, and more.
Continue reading ‘Landlord Basics: Leases’
(This is the first post in a new series aptly named “Landlord Basics”. This series aims to help the new landlord / investor understand some basics of tenant relations and property management. You can view the rest of the series here.)
You’ve done your homework and purchased a property or two that can provide you with positive cash flow. The broken has been fixed, the old has been renewed, and it’s time to place some tenants! After screening your tenants and drawing your lease, you’ll want to collect rent and security deposit prior to move in. But what exactly is a security deposit, and why is it important?
A security deposit is money given to you by a tenant (usually prior to move in) that acts as an insurance policy of sorts. This money can be used to pay for damages caused to the unit by the tenant during the term of their tenancy, and is a vital portion of the tenancy arrangement. Such items could include broken windows, holes in walls and carpets, and failure to completely clean the unit at the termination of tenancy. Keep in mind that security deposits should not be used to cover normal “wear and tear” items such as repainting, as this is pretty standard tenant turn over.
Continue reading ‘Landlord Basics: Securty Deposits’
I don’t usually take a very political stance on my blog, because no one would listen anyway. Everyone makes up their own minds based on various media outlets, personal beliefs, facts, and fiction. I just wanted to drop a quick note to remind everyone that today is Election Day, and that they should go vote!
Polling places are open from 6AM to 9PM in many areas. Keep in mind that you may experience a wait. You’ll need your voter registration card, as well as photo ID. Get out and do your part!
