BLOG: Industry Articles - Page 21 of 23

No. 1 – Too quick to fill a vacancy

I often see new landlords and investors fall prey to this one.

I, too, many years ago made these bad judgment calls (never again). It is easy to drop your standards when a unit is about to become vacant.

Emotions take over and a prospect comes to you waving cash at you.

Sure, they do not represent the perfect tenants. Or their income is lower than you as a landlord might require. But they are nice people and they have the cash for the deposit and first month’s rent.

Besides, I think, “I will start negative cash flow next week if I do not rent to them.”

Three months later, I struggle to collect rent and month after month is a fight to get paid. I tell myself, “I wish I held out for better tenants.”

Like so many others, I have learned it is far better to have a few weeks of vacancy while finding the best tenant than to hurry and rent to a bad apple.

Landlord Information

Property Maintenance

If you want to minimize the risk in your property investment business, you should understand that a key to your success isn’t just buying the right investment property.

Whether that’s you, or someone you hire. And a critical component of property management is finding the right tenant for your real estate investment property, which means tenant screening should be at the top of your priority list. Here are five things you can do to ensure that your tenant screening process helps you identify the best tenants and weed out the bad ones.

Landlord Information

Tenant Screening

Reasons a Tenant Can Legally Break a Lease

Posted: Oct 06, 2016
By: NatEvict
Comments: 0

Reasons a Tenant Can Legally Break a Lease

In most cases, a lease is a legally binding agreement that cannot be broken until the lease term has ended. There are however, certain times when a tenant is able to break the lease without fear of penalty. The reasons a tenant can break the lease will vary based on your state’s landlord tenant laws. Here are five reasons a tenant can legally terminate their lease agreement.

Failure to Maintain Fit and Habitable Premises

One of the main responsibilities every landlord has is the obligation to maintain the property.

Some common obligations include:

Making Sure the Property Has Running Water at All Times.
Providing Proper Trash Receptacles.
Keeping the Common Area Clean and in Good Repair.
Performing Repairs.
Following Health and Safety Codes.

If a tenant believes that there is a significant health or safety violation at the property, the tenant can file a complaint with the local health or safety department or other property inspection organization or can file a complaint directly with the landlord.

Continue reading →

Tags: Landlord Information, Leases & Contracts, Tenant Information

Common Reasons for Tenant Eviction

Posted: Oct 06, 2016
By: NatEvict
Comments: 0

Every landlord would love to have a tenant that pays rent on time, never complains, and renews their lease agreement every year. In reality, this ideal landlord-tenant relationship is difficult to find. Most landlords will have to deal with a tenant eviction at some point. Here are five common reasons you may need to file to get a tenant out.

Non-Payment of Rent
Habitual Late Payment of Rent
Damage to the Property
Disrupting Other Tenants
Holdover

Every state has unique laws about evicting a tenant. You must therefore check your state’s landlord tenant law to find how and when you can file to recover possession in your state. You must always have “just” or “good” cause to file for an eviction.

Continue reading →

Tags: State Evictions