‘Manage Posts’ Archives
Who Should Pay for Property Utilities?
When you own a rental property, you sometimes have the option of paying for the utilities yourself or getting your tenants to pay for them directly. Utilities usually include electricity, gas, oil, water and sewage and any other utility type service required to operate a house. If you have a multi-unit property which does not have separate [...]
When Should You Start Evicting a Tenant?
The decision to evict a tenant should not be based on emotions. You need to implement a process and then execute it. This process can save you a lot of money. As an owner of rental properties you will always have to deal with tenants who are not paying their rents. There are a lot of reasons why people don't pay their rents and [...]
Are You Sure You Want to Be a Project Manager?
If you own rental properties, they will have to be managed. Before you decide to do your own Property Management make sure you know what you are getting yourself into. Some things you will be responsible for are: Advertising your property when you have vacancies. Preparing the property to be shown Showing the property to [...]
What Is Property Management?
Taking care of your property and your tenants. As you start acquiring properties, you are going to have to manage them. Property Management is more than just fixing toilets. It's about making money with your investments. Property management is making sure your properties are generating a positive cash flow. How do you do that? The first thing [...]
Should I Hire a Property Manager?
Yes. Always Hire a Property Manager You should always hire a Property Manager, even if that Property Manager is you. What I mean by that is that you should always allocate enough money for the management of your properties. After all, if you are doing the Property Management yourself you want to make sure you are getting paid for it. You don't [...]
Don’t Let Tenant Problems Distract You
Settle fast and move on. When you own rental problems you will eventually have tenant problems. I see a lot of beginner investors spending way too much time chasing these problem tenants. I view at tenant problems as my problem. I didn't screen the tenant properly or I used other bad property management techniques. There are two general [...]
Rentals or Lease Options
Which is the better investment for you?When deciding on your Real Estate Investment strategy you have to take into account how passive or active you want to be. You also have to look at the risk associated with the expected return on your investment.Rentals can take a lot more of your time if you are doing the property management yourself. Rentals [...]
Property Management Problems
Some quick tips.I have had several people tell me about their bad experiences as a Real Estate Investor. They bought a house as an investment and then rented it out. They typically have a history of bad tenants who caused a lot of damage. They couldn't afford the repairs so they ended up selling and actually had to pay because the house sold for [...]
10 Mistakes in Property Management
Learn From My MistakesWhen I started buying rental properties, I made a lot of mistakes as a Property Manager. Here are some of the most common and irritating ones in no particular order.1. Not screening tenants. You should always do some kind of background check on your tenants. A bad tenant is worse that no tenant. Keep your unit vacant until [...]
Preliminary Market Assessment – A New Tool
Eliminate your risks when acquiring Lease Options Probably the hardest part of Lease Options is finding the homes from motivated sellers. That is because the seller usually has many other possibilities before they consider Lease Optioning their home to someone like me. When we first started out we weren’t getting a lot of people calling us [...]
