Late Fees: What Should a Landlord Charge? It's inevitable, perhaps in 2024, that some of your tenants will be late paying their monthly rent. Across the US, quite a few renters are behind on their rent payments. "8,070,524 people ages 18 or older in the U.S. aren’t caught up on rent payments. Put another way,…
Biggest Mistakes Landlords Make "If only I'd known then what I know now." That's what too many landlords utter when they're struggling to keep afloat, facing weighty financial challenges, and looking for ways to improve their profits. When we cover the topic of the most costly landlord mistakes, it's not insinuating, but rather just…
A Tidal Wave of Maintenance and Repairs Building Up If your property maintenance scheduling feature wasn't used much before, it's likely getting a good workout through the Covid 19 era. Are you now using Covid foggers? Maintenance expectations are evolving. Landlords are reporting that maintenance tickets are well down from normal levels. Many tenants don't want…
Expect Unexpected Circumstances at your Property As an apartment landlord, you may encounter unexpected circumstances such as unit abandonment, death and/or incarceration of one of your residents. In these cases, you may need to perform your best judgement while following property management policy and procedure in order to mitigate your risk and liability. Below are…
Never Forget to Document Before Legal Proceedings In previous articles, we talked about the eviction process and the importance of documenting properly. While non-payment of rent is the cause of most evictions, other lease violations whether minor or major, can also lead to tenancy termination and eventually with legal proceedings. Serving lease violations to tenants…
Lease Agreement 101 – Part 3 Following up on our previous posts on tenants lease agreements and tenant lease provisions, we want to explore the tenant lease agreement in greater detail. There are numerous lease provisions which landlords, particularly new landlords aren't fully aware of. Understanding the tenant lease agreement is critical because it is…
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