The whole world is fighting valiantly against the much-reported novel coronavirus. Who has not heard about its effects on the world? One of the areas it impacts which people are most concerned about is business. Essential businesses remain open, which, for landlords, is good news. However, at least some tenants in Maryland are indeed suffering financially. Landlords can work together with tenants to fight victoriously.
Posts Tagged ‘ Tenants ’
Many people in the United States have pets as part of their lives. Most of the time, we see people with dogs and cats of every breed imaginable. In plenty of cases, people have rodents like guinea pigs, rats, mice, or hamsters as pets, or even reptiles like lizards and snakes. Meanwhile, some tenants may like to own exotic pets. While some are illegal to own in Maryland, be prepared to deal with pets you might not imagine being legal at first.
Choosing the right property to invest in is difficult, whether you are a new homebuyer or a seasoned real estate investment professional. The market of college town properties is a very polarized one, as some property management companies love working with them and others aim to stay as far away as possible! Should you consider investing in a college town property? Consider these four points before you invest. (more…)
One of the most challenging parts that come with being a property manager is setting and raising the rent. Many property managers worry that raising the rent will result in good tenants leaving for other properties and an increased number of vacancies. Setting a rent price for your units is not as simple as looking at comparable locations and pressing a button. Here are just some of our best tips for raising the rent without losing valued tenants. (more…)
Do you find yourself having a very rapid tenant turn-around? Looking for ways to keep your tenants from leaving? With a high tenant turnover rate, property owners end up losing a lot of money having available units that are sometimes difficult to fill. This can invest more of a burden than something that is bringing in profit. Here are just a few easy tips for property owners to use so they can reduce the frequent tenant turnover rate and retain residents more frequently. (more…)
It is essential that landlords take the time to review every application they get from prospective applicants. In fact, including questions that get to the root of whether a potential tenant is a quality tenant is a crucial aspect of landlords that can often get overlooked. Here are just a few of the questions that need should be in every application. (more…)
The time will come around sooner or later. If you are a home real estate investor you will be forced to deal with this. It is inevitable that you will eventually face an eviction sometime in your career. If you have never had to remove a tenant from your property it is not exactly a happy experience. The process is usually a long one with several hurdles to climb along the way. (more…)
Once you purchase your investment property, you are faced with a massive dilemma: what do I replace and what do I simply get rid of? It can be an extremely mind-boggling experience. In fact, choosing the best way to make your investment property work for you is to determine what items would be cost-effective to replace or upgrade and which items may need to simply be thrown out. Here are some of the more common items that are typically considered to be changed in a new investment property. (more…)
As you pull up to your unit, you notice the outside first. It’s this first impression that will give you a good indication of the status of the inside. For instance, if you notice damage to the flower beds or broken blinds in the living room, you can expect to find a mess as soon as you open the door. However, there is always the dreaded walk-through that ever rental property owner must endure once their tenant moves out. Here is a simple guide to help make the walk-through a more thorough process for you. (more…)
Some property managers claim to have developed a sixth sense about tenants. They can easily spot a wolf in sheep’s clothing and have the experience to pick up on warning signs. If you’re new to the game and aren’t sure how to tell a bad tenant from a good one, this list is for you.
When you’re searching for the perfect tenant for your property it is vitally important that you choose the right fit. The first tenant isn’t always the best one, and you reserve the right to be picky about the person that will be responsible for the upkeep of your property. Look for a few tell-tale signs that you’re dealing with a bad potential tenant.
- Obvious signs of alcohol. If you smell alcohol on a prospective tenant, or they talk about being hung over, attending parties, or binge drinking, back away fast. These are not appropriate subjects for a tenant to discuss with a property manager, and they certainly aren’t signs of a good tenant.
- They are unwilling to fill out an application on the spot, or they leave spaces blank. A well-prepared and serious tenant will have all of the necessary information to fill out an application after a showing. Taking an application home is a good indication of a lack of responsibility.
- Lack of references. Tenants that have had successful relationships with past landlords will have good references. If references appear to be all family members or they skip that section of your application altogether, you may want to move on to the next potential renter.
- They are in a big hurry to rent. People that are desperate to rent out a property and make that known to you can be trouble. You may find out that they are dealing with eviction from a previous property. This is also a sign that your potential tenant is unorganized and not well prepared.
- Trouble answering questions. When your prospective renter can’t give you straightforward answers to your questions or gets defensive, you should see that as a red flag. They might be hiding important information.
The more tenants you meet, the more you’ll be able to pick up on the qualities of bad tenants. Not all of these warning signs need to be automatic grounds for disqualification, but they should at least pique your interest.
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If you have any questions about Tenant Screening or Property Management, please contact Clagett Enterprises at (301) 663-6011. You can also connect with Clagett on Facebook, Twitter, Google+, Pinterest, and YouTube.