Modern Landlord

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Property Management fees Part III

What to charge for property management fees is a difficult question that every company must face. Setting them to low will leave money on the table. Set them to high though and you’re likely to have less customers. Finding that middle spot is always the goal. If you haven’t read Property Management Fees Part I or Part II, you might want to start there. In this article we’re going to…

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Do Credit Scores Really Work for Screening Tenants?

For screening tenants, it has been a long practise in the residential rental market to use credit scores as a way of trying to assess how likely a rental applicant is to miss their rental payments. We won’t deny that there is a correlation between an applicant’s credit score and their  likelihood of defaulting. There is. It’s just far weaker than the credit bureaus want you to believe it is….

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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Five Important Questions to Ask During The Tenant Screening Process

When it comes to the tenant screening process, one of the most important things you’ll do is speak to their former landlord. Tenant references are never a waste of time. In fact, they allow you to see if someone who looks good on paper (i.e., has a steady job, makes a living wage, is polite in emails) is actually decent in person too. Any good property manager will tell you…

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

Understanding the U.S. Rental Market

The U.S. rental market has seen unprecedented growth over the last decade. Due to stagnant wages and poor economic outlooks more Americans are renting than at any other time in the past 40 years. This presents an opportunity. Understanding the U.S. rental market is key to making educated financial decisions for your business. Understanding the U.S. Rental Market: Demographic Shifts Between 2004 and 2012 the percent of the U.S. population renting…

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When To Let A Tenant Paint Their Apartment

Does finding unexpected bright red walls or a pop of pink in units make you lightheaded? The best I ever was the cover from Pink Floyd’s Dark Side Of The Moon; an array of rainbow colours shooting out of a prism covering an entire bedroom wall from top to bottom. I think it took about five coats of paint to cover. When to let a tenant paint their apartment isn’t…

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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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