Modern Landlord

Resources for Modern Landlords

Laundry Facilities: What You Need to Know

Here are some of the questions that you need to go through when thinking about adding a laundry facility to your building. This article will highlight the basics of what you need to know about laundry facilities. How important is it to have laundry facilities in your buildings? Or in each individual unit? Will this affect your turnover rate? In a recent study by the National Multi-Housing Council 88% of…

Increase your rental property's value.

How to increase your rental property’s value

Your rental property is one of your greatest assets. Over time, it will appreciate and net you a hefty profit. However, you have to put in the work. The more care you take with your rental property, the higher its value. Here’s how to increase your rental property’s value: Routine maintenance: Don’t wait until something breaks, perform yearly maintenance on your property. Adapt with the times: Color schemes from the…

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Why you should convert part of your home into a rental unit

Money makes the world go ’round which is why you should convert part of your home into a rental unit. Sure, money isn’t everything but paying off your mortgage and making use of dead space in your home can be quite beneficial in the long run. If you’re worried about the cost of renovating and creating an income property in your home, don’t be. The unit will pay for itself…

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5 Things Your Property Management Website Needs

Creating a website can be a headache. Actually, it can be a full-fledged migraine without the proper training and guidance. When it comes to a property management website, you need extra tools to guide potential tenants from your home page to home viewing. Remember to include these five elements and you can forget the advil and focus on finding tenants.     Property Management Website: Branding   Be recognizable. Consistent…

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Should you let your tenants have pets?

People with pets are people too. Just because someone has a dog doesn’t mean they’ll be a lousy tenant. However, there are certain exceptions you have to make when it comes to your rental property. If you’re not an animal person you may want to think twice about renting to someone with a menagerie that rivals the Central Park Zoo.   Yes to pets Seeing eye pets: Seeing eye dogs…

Own multiple rental units/properties? Hire a property manager to take care of it for you.

The Difference Between a Landlord and a Property Manager

Landlords and property managers are not interchangeable. Although both the landlord and property manager are involved in the rental industry, each has a specifically defined role. Landlords own the property that is being rented out while property managers only oversee it. The role of the landlord If you own a singular property or one or two units within a building, you will probably want to manage them yourself instead of hiring…

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Is an income property the right choice for you?

Income properties create a valuable way to generate extra revenue and provide equity for you to fall back on if need be. Many people are worried about purchasing an income property because they’re scared of being landlords. Yes, landlording can be difficult at times but the pros always outweigh the cons. The pros of owning an income property: The income you get from renters can go towards your mortgage and property…

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