We get it. Few things are more stressful for a landlord than when tenants aren’t paying rent. It’s not just about the loss of income, but the layers of worry, frustration, and uncertainty it adds to your life. If you’ve found yourself in this challenging situation, take a deep breath and remember: you’re not alone. …
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Conducting an apartment turnover from an outgoing tenant to a new one can be a complex process that involves careful planning and attention to detail. This checklist is designed to help landlords manage this process more efficiently, ensuring that the property is clean, well-maintained, and ready for the new tenant.
Imagine this: You get a distressing call informing you that there’s been a fire at your rental property. You later find out it was caused by a tenant’s negligence. An accidental fire caused by your tenant not only endangers lives but can also result in significant property damage. As a landlord, how do you handle …
Hey, future property moguls! Ever thought about owning an apartment complex? It’s not just about cashing rent checks at the end of the month. It’s a challenging yet rewarding business, and I’m here to share some insider tips on being successful in the role of an apartment complex owner. Buckle up!
“Is a rental property considered a business?” is a frequently asked question. If you have a consistent source of income, you’re not just a property owner; you’re a business owner. Let’s dive in a bit deeper. A rental property falls into the business category the moment you begin to earn money from it. Whether you’re …
Are you a landlord faced with the charming, yet sometimes complex, world of tenants with pets? If yes, pet screening should be your first line of defense. It’s not just about pet lovers versus non-pet lovers; it’s about maintaining a balance in your property, reducing potential damage, and maintaining a peaceful environment for everyone.
As a rental property owner, you might have encountered situations where a tenant’s pet has caused significant damage to your property. Among various pets, cats, in particular, have been known to contribute to this predicament. Acknowledging the potential for “cat damage” can help you devise strategies to safeguard your rental property. In such scenarios, having …
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In the world of rental property investment, risks and uncertainties are inevitable. From accidental damage to potential legal issues, there are numerous unexpected scenarios that could impact your income and overall success. One of the best ways to protect your assets is by having a solid insurance policy, and that’s where umbrella insurance comes into …
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The allure of house flipping is hard to resist, with HGTV shows glamorizing the lucrative potential. While it’s an exciting venture, it also requires careful planning, patience, and persistence. Here are some unique tips on how to start a successful house-flipping business.
As a landlord, managing multiple properties can become complex. The inherent risks multiply with each property added to your portfolio. To safeguard your investments against potential issues, multi-property landlord insurance comes into play. Multi-property landlord insurance is a bespoke type of coverage tailored to landlords who own and rent out several properties. It consolidates all …
As a landlord, understanding what your insurance policy covers is a fundamental aspect of protecting your investment. A common question among property owners is, “Does landlord insurance cover tenant damage?” While the answer isn’t entirely straightforward, the short response is: it depends. Let’s get into it!
Owning rural vacant land is an investment, but it also comes with potential risks. From trespassing, vandalism, and natural disasters, owners must be proactive in protecting their property. The question many owners ask is: “How can I insure and protect my rural vacant land?” This article will guide you through the crucial steps.
When purchasing or renewing commercial property insurance, property managers need to ensure such coverage includes accurate property valuations. Doing so can make all the difference in providing sufficient protection and preventing property loss. That’s where conducting accurate value calculations comes into play.
As a landlord, you may be thinking about whether it’s worthwhile to invest in property upgrades. After all, improvements can be costly and time-consuming, with no guarantee of increased rental earnings or property value. In this post, we’ll talk about the factors to consider when asking yourself, “Should I renovate my rental property?” Let’s get …
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If you’re a real estate investor, you might be wondering what the difference between a condo and an apartment is. Both are types of multi-unit housing, but their ownership systems and legal frameworks are unique. Understanding these distinctions is critical for making sound investment decisions in either type of property.
You have an extensive list of obligations as a commercial property manager. You’re not only responsible for the property’s upkeep but also for the tenants’ and their belongings’ safety. Investing in the correct form of insurance is one approach to protect yourself from any unexpected financial losses. In this post, we will go over the …
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As an owner of a vacant property, you face many risks. From vandalism to theft, there are numerous threats that can jeopardize your property’s safety and your peace of mind. It’s essential to take the necessary measures to ensure that your vacant property remains secure. Here are some tips to help you ramp up the …
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Being a landlord can be a challenging job, and dealing with a harassing tenant can make it even more difficult. Harassment from a tenant can take various forms, like physical or verbal abuse, threats, intimidation, or constant disturbance. It’s important to deal with such behavior quickly and effectively to ensure the safety and well-being of …
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Having a rental property can be a sizable source of income, but it also entails a tremendous deal of commitment. A competent management approach is required to ensure that your property is lucrative and well-maintained. In this article, we’ll give some unique methods on how to manage a successful rental property business, let’s get started.
Being an apartment complex owner can be both lucrative and demanding. To be profitable in this industry, you must know how to properly manage your business and safeguard it from potential threats. Here are some pointers to help you get the most out of your investment while minimizing hazards and risks.
As a South Carolina homeowner, you should have a comprehensive insurance policy in place to protect your property and finances in the event of an unexpected incident such as a fire, theft, or natural disaster. Nonetheless, the cost of homeowner insurance in South Carolina can vary greatly depending on several factors. Let’s go on to …
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Buying an investment property can be an excellent method for generating passive income and accumulating long-term wealth. Choosing the best state to buy a rental property in; however, can be a challenging task. Many variables should be considered, including rental demand, the local real estate market, landlord-tenant laws, and property taxes. In this blog, we’ll …
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Choosing the best flooring for your rental property can be a difficult task. Not only do you want your property to look good, but you also have to select a flooring option that’s long-lasting, low-maintenance, and affordable. In this post, we’ll explore the most common flooring options for rental properties and evaluate the advantages and …
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Safeguarding your rental property as a landlord is essential for ensuring a profitable and successful venture. Fortunately, with umbrella insurance, property owners can be provided with additional liability coverage in the event of an accident. This coverage is especially important for individuals with rental properties due to their high-risk nature. This blog post will go …
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As a landlord, you have the chance to provide housing to qualified renters in your area while also building a profitable rental property business. However, it’s important to recognize the duties that come with this role, such as maintaining a secure and comfortable atmosphere for renters and securing your property with the right insurance. This …
Investment properties can be a terrific way to accumulate wealth and create a steady stream of passive income; however, they can be costly to renovate. Fortunately, there are ways to upgrade an investment property on a budget while still making it desirable to potential tenants. In this blog post, we will look at some suggestions …
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Landlords need to understand the kinds of losses that their rental property insurance policy covers. Flood damage is a potential problem for landlords as it can be costly to address and may lead to a reduction in rental income. This blog post will address how landlords can safeguard their homes from flood damage as well …
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Creating a move-in/move-out checklist is an essential step for landlords seeking to safeguard their property and document the natural wear and tear of the rental. A thorough and detailed record of the property’s condition at the start and end of each tenant’s lease can effectively identify any damages or issues that may have occurred. In …
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As a landlord, you know firsthand how important it is to maintain your rental property and to keep up with the ever-changing needs of your tenants. Not only does routine maintenance help protect the structural integrity of your rental property and maximize its value in terms of resale potential or investment income, but it also …
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Being a hotel owner is a challenging but rewarding career. As the head of the establishment, it’s your responsibility to oversee all aspects of the business and ensure that your guests have a comfortable and enjoyable stay. The responsibilities of a hotel owner include managing staff, maintaining the building and its amenities, and staying on …
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As a property owner, you want to ensure that your property is protected and that your tenants are safe. You likely already have a general liability insurance policy in place to protect you from the common risks associated with owning a property. Unfortunately, this type of policy does not cover you in the event of …
As the holiday season gets into full swing, many property owners are decorating to spread some cheer and make their homes more desirable to renters. As I’m sure you know, this time of year tends to be the busiest and most profitable for vacation rentals. Therefore, with the holidays right around the corner, it’s time …
Many commercial property insurance policies include language detailing steps that must be taken following a loss. Failure to fulfill these responsibilities can potentially lead to a claim being denied, a delay in claim payments, nonrenewal, or even cancellation of the policy. This article discusses typical duties required of insured by commercial property policies and the …
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An infestation of bedbugs or other similar pests can be damaging to your hotel’s reputation and can represent a liability risk. Bedbugs, spiders, ants, and other pests can be carried in on guests’ clothes and possessions–virtually no hotel is immune, and high-traffic facilities are at an elevated risk of infestation. Although most pests found in …
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If you own a piece of vacant land, whether by inheritance or by investment, you must know that it’s vulnerable to several risks. So what’s the best way to secure your vacant land which is worth a lot of money? Insurance is the best way! You see, nothing is more successful than insurance in safeguarding …
Potential renters may find a private pool at a vacation rental to be a particularly alluring luxury. Pools, despite their potential popularity, come with a number of homeowner liabilities that must be addressed to prevent safety and legal issues. In order to maintain the advantages that a pool provides to your vacation rental, you as …
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Winter months bring more than just chilly temperatures and shorter days; they also have the potential to deliver winter storms that might blanket the landscape in snow and ice. While it may be a winter wonderland for some, as a rental property owner, snow and ice buildup can be quite the headache. If you deal …
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As fall and winter bring colder temperatures, the warm interior of your home can provide shelter, breeding spaces, and access to nourishment for household pests. Any pest invasion—flies, rodents, squirrels, wasps, ants, and various bugs—can cause property damage as well as health and safety hazards for any homeowner. Keep the following tips in mind when …
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Your livelihood is dependent on the survival of your business, so it’s imperative that you protect it against any potential threat. For instance, a fire could destroy your business’s warehouse and the contents inside, or a burst frozen pipe could damage important documents and valuable papers. Worse, you could have trouble paying your employees during …
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Renting a home does come with its fair share of advantages. You don’t have to worry about property taxes, and it doesn’t require a long-term commitment like buying a house does. However, even when living in a rented home, you still encounter some risks. Therefore, your landlord can require you to have a renters insurance …
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Almost every organization faces commercial liability exposures. Unfortunately, in these situations, there’s a possibility that an organization will become legally and financially responsible for injury, harm, or damage to another party. These exposures stem from the kind of work an organization performs and where that work is executed. They also encompass other aspects of business-related …
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Owning a vacant building can pose serious liabilities because vacant buildings are more susceptible to vandalism, undetected repairs, fire, and other losses. If you own vacant property, it is advisable to purchase vacant property insurance, also known as vacant building insurance or vacant dwelling insurance, to protect against risks. In this article, we’ll discuss the …
When you purchase new land or find yourself with unused land, it’s important to consider the risks that may accompany it. Trespassing and liability issues are constant threats on vacant land. The liability of an individual being injured on the property can be costly. To ensure you’re adequately protected, it’s important to understand the risks …
One of the most common causes of water damage within your property is often preventable. After all, this form of damage isn’t always due to heavy rainstorms, flooding, or melting snow. Rather, water damage often stems from a lack of home maintenance. What’s worse, such damage is usually excluded from your homeowners coverage if the …
You may be asking yourself, how can I create a passive income through Airbnb hosting? Well, it all starts with great hospitality. You can do this by simply providing a superb customer experience. By doing that your guests will be more inclined to keep coming back and more likely to recommend you to their friends. …
Real estate is one of the most lucrative markets for investors who want dependable revenue sources with little tax implications. It’s not like rental property owners don’t pay taxes like the rest of us, but they’re able to deduct their expenses from managing the property which in turn lowers their taxable income. So, despite the …
Many people in the real estate investment industry are either overcharging or undercharging for rent. Therefore, as a landlord, how do you go about determining the appropriate rental price? This is an important question many rental property owners have since it’s a big determinant in your overall success. Not only do fair prices generate a …
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Getting involved in the hospitality industry is an excellent way to establish a business and generate profit. However, running a successful motel is not something that happens overnight. Before you enter the industry, extensive planning, research, and so forth is required. Therefore, knowing the best practices for running a motel can help pave the way …
Your home is one of your greatest assets and a significant long-term investment. As such, it’s vital to protect your home and its contents with adequate homeowners insurance. Nevertheless, recent research found that many homeowners lack proper coverage. Nearly 2 out of every 3 homes in America are underinsured. This means that the home is …
The cost of condo insurance is around $500 per year on average. Keep in mind, this number is per unit. However, the rates could vary greatly depending on the coverage you select, your location, and so on. In this article, we’ll discuss the average cost of insuring your condo based on various factors. We’ll also …
We understand how hard it can be to find reliable tenants. However, the longer your property sits empty, the more likely a theft, water damage, or fire will occur. Therefore, vacant properties pose a huge problem for homeowners. In this article, we’ll discuss the various risks of leaving a property unattended, as well as several …
People living in high-risk flood areas can experience substantial and costly damage. To protect your home and financials you need to purchase adequate flood insurance. Fortunately, these insurance policies come in all different forms so you can curate and customize one specific to your needs. In this article, we’ll discuss the cost of flood insurance, …
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Owning an apartment is likely the biggest investment you’ve made in your life. Therefore, being an apartment owner isn’t a job that should be taken lightly. When it comes to protecting your property, you need to establish a plan and consider what coverage options you need. We know you have a lot of time and …
Renting out a vacation home is becoming increasingly popular and an excellent source of income. However, it’s important to take into consideration that since you’re renting out your property for money your homeowners’ insurance won’t apply here. This is because rental properties involve more risk compared to the standard home. In that case, you’ll need …
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Purchasing a rental property comes with its fair share of risks. One may hope their current homeowners’ insurance policy will also cover their rental; however, this isn’t the case. You see, rental properties have their own unique risks that a homeowners’ insurance policy won’t cover. Therefore, to protect yourself and your property, you’ll need to …
If your business is in a physical location and you have employees then commercial property insurance is a must-have for you. These properties are vulnerable to all sorts of risks and damages, resulting from fires, storms, thieves, and so on. Regardless of the size of your business, surely there are several costly items inside which …
Did you know that Georgia is the second-fastest-growing state in the country? Because of its growing population and thriving economy, it’s become an extremely viable location for property investors. In fact, Georgia is well known as a very landlord-friendly state. However, it’s important to note, the state has its fair share of natural disasters. For …
Running a hotel comes with its fair share of risks. For example, there are obvious liability concerns since 100 hundreds of people go in and out of your establishment every day. But it doesn’t stop there. So, if you’re a hotel owner, having insurance is crucial. Specifically, it’s important to have the right coverage to …
Owning and successfully running a motel or hotel requires a lot of time, energy, and cash. Your building is likely your largest asset; therefore, adequate insurance is essential. Unfortunately, the pandemic has put a strain on the motel and hotel insurance market during the past couple of years. Many of the top carriers have exited …
Being a landlord is no walk in the park. Although it’s a great source of passive income, you’ll have to deal with some rather unpleasant things. For example, after one of your tenants moves out there could be a lingering odor from pets, certain foods, cigarettes, and even mold. Unfortunately, bad smells in your rental …
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Many landlords can be pretty skeptical when it comes to allowing pets in their rental. This is because they have the potential to cause damage or harm someone else. Therefore, as a landlord, you must have a comprehensive pet policy for renters. This way you can avoid any lawsuits from dog bites or property damage …
The great thing about working in the hospitality industry is the unlimited opportunities. Being a hotel owner is one of the most popular careers in the industry. However, to be successful you must stand out against your competition and create valuable customer experiences. There are numerous ways you can go about it and we understand …
Investing in real estate is a fantastic business to get into. For example, it’s a great option as a passive income stream. However, you can’t just go buy a property anywhere and expect it to be successful. A lot of factors play into the profitability of a rental, such as the location. A desirable location …
Being a landlord isn’t easy since you have to deal with numerous issues along the way. A constant worry of a landlord is keeping their tenants happy. An easy way to do so is by addressing tenant complaints quickly. Remember, happy tenants are more likely to stay longer and treat your property with care. Unfortunately, …
Becoming a landlord is a great way to create a passive income. However, becoming a landlord isn’t as easy as it sounds. Even if you properly screen your tenants, there’s always a chance of landing a problematic one. Difficult tenants can make your job very tough. Therefore, we’re discussing several problems you may encounter and …
Hearing the word vacancy is a property investor’s worst nightmare. Typically, vacancies indicate a decrease in profits which affects your business as a whole. Ultimately, the less money you have to maintain the property, the less likely your tenants will renew their lease. Therefore, we understand the urgency to fill these spots as soon as …
Investing in commercial property results in higher returns compared to a residential property. Commercial properties come with longer lease tenures that increase by 4 to 5 percent annually. Plus, if you rent out a commercial property to a business then they’ll maintain, clean, and renovate it. While purchasing commercial property can offer you a slew …
Apartment owners manage multifamily buildings with a large number of tenants. They play a key role in maintaining the building and making sure their tenants have a superb living experience. Due to the size of these complexes and their long list of responsibilities, being an apartment owner can be a challenging job. Managing an apartment …
Raising rent is a basic right of landlords but there are certain things that you should keep in mind. Rent increases can impact your property’s value and the lives of your tenants. An unjust rent increase can also land you in some serious legal issues, which could cost you thousands of dollars. Therefore, landlords should …
Landlords play an essential role in the rental property business. Such as, they help you understand your lease, make repairs, and help maintain the property. However, property managers need to be aware of what they can and can’t do. Once a tenant moves in, you have limited control and have to abide by certain boundaries. …
Purchasing a property is a huge milestone you should celebrate. One of the best things about a home is once you sell it in the future you can make your money back plus some! You can do so by making changes and upgrades that boost your home’s value. The following methods can increase your property …
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We are excited to announce that our very own Lauren Lieb has been featured in this quarter’s RENT Magazine! In Lauren’s article, she discusses the ins and out of multifamily insurance and what you can expect in 2022. “With 2021 behind us, it’s time to look forward and prepare for what lies ahead for the …
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Becoming a landlord is a great idea if you’re looking to generate passive income. However, being a landlord takes a lot of responsibility. Such as, you have to maintain the property and deal with tenant-related issues. We understand this process can be a bit overwhelming; therefore, we’ve compiled some tips for new landlords. Some helpful …
Owning a rental property is a huge responsibility considering the amount of risk involved. Since a rental is typically inhabited by someone other than yourself, you can’t always rely on a tenant to take proper safety precautions. For example, someone could forget to lock the front door to your rental and a robbery occurs. Therefore, …
Pest infestations are a serious concern for the majority of property owners. Such as, pests can pose a threat to the structure of your home and decrease its value. Having reoccurring problems with pests invading your property could lead to tenant retention issues. As a rental property owner, it’s your job to keep your property …
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Investing in rental properties is a great way to generate some income. However, landlords have a lot on their plate. For example, they have to deal with tenant-related issues, purchase insurance, and maintain the property. Furthermore, there are many landlord insurance myths floating around. Making these mistakes can lead to financial burdens and confusion. So, …
Investing in real estate is one of the best ways to create a steady income. However, it’s important to note that you can only achieve this goal by finding the ideal tenants for your property. Finding the right tenant for your property can be a challenging process. Nevertheless, there’s a simple tenant screening process that …
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Landlords are typically held responsible for their property and what happens there. However, there are instances where the tenant can be held responsible for an incident that occurs. Furthermore, negligence is a prime factor in determining who’s liable for a crime or injury at the property. For example, if a landlord neglects to fix the …
Second homes offer several benefits such as providing a place to relax with family, friends, or solo. It may also help owners earn some extra cash by renting it out when the home isn’t in use. However, owning a second home means you’ll also need to invest in different sorts of insurance. It doesn’t matter …
Becoming a landlord may sound like a lucrative solution for a passive income. However, there are a few things you should know before you rent your property. Make sure you take our tips and tricks into consideration to get the most out of your investment property. Let’s begin.
Buying a rental property for the first time raises many concerns and questions. You don’t buy properties every day, which makes it a significant financial decision in your life. You need to be sure that the property you want to buy is a profitable investment. Here are the FAQs to help you develop a foundation …
Often cold weather and snow accompany the winter months. Extreme weather conditions can take a toll on your property. Therefore, winterizing your rental property can help you avoid costly damages and repairs. By following the given tips now, you can spend less time and money on repairs, plumbing, and roofing during the spring. Hence, you …
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Buying a rental property is a great way to earn passive income on the side. We understand that purchasing and making a house a rental can be a stressful ordeal. So, we have a few helpful tips that can make purchasing a rental property easier. Often millennials prefer renting out a property instead of buying …
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Investing the time and money required to maintain and cultivate a positive working relationship with your tenants can be the difference between amicably settling differences and a costly lawsuit. Working on tenant relationships also creates value by maximizing tenant cooperation with timely rent payments, property upkeep and longer lease terms.
If you’ve had a fire, water damage or another unfortunate event in your home, don’t fret. We have all the information that you need to get your claim underway so you can get your life back to normal. Here’s how to navigate the claim’s process seamlessly.
Vacant properties are the easiest target for criminals and are often subject to theft, vandalism, and break-ins. That’s why protecting them is as important as your occupied home. If you don’t want to see your vacant property broken into or damaged, follow the tips below.
If you own a rental property, that means you have assets that aren’t covered under your conventional homeowners’ insurance. Not having proper landlord insurance can cost you a lot of money as your property may undergo unexpected losses. You can opt for landlord insurance for a wide variety of rental units, such as apartments, single-family …
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One of your main priorities as a landlord is to keep the occupancy rate of your property high. You can do so by screening your potential tenants to help decide who’s likely to stay the longest. The goal would be to retain your tenants as much as possible. Note that the rent amount you charge …
Are you aware of the massive rise in real estate investment opportunities in Atlanta, Georgia? Well, the real estate market in the region is rising rapidly, especially when it comes to multifamily real estate units. There are several reasons for this, such as the growing number of people and job opportunities coming to the area. …
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Rental properties are some of the most profitable real estate ventures that you can invest in. You can find the most appealing real estate residential properties and turn them into rentals for a continuous stream of income. The real estate business is highly competitive. Therefore, you should do your research in order to have a …
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Are you thinking about changing your home insurance company, but have no idea how the switching process works? If that is indeed the case, then there is no need to fret, as changing your homeowners insurance company is not a big deal. In this guide, you’ll learn the best tips for switching to a new …
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Purchasing a property is a huge milestone in one’s life. One of the fun things about having a home is you can make relatively cheap updates to freshen it up and make it feel like new. One of the main benefits of doing this is it can increase your property’s value in the real estate …
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If you want to achieve financial independence, renting out a portion of your home can be a good idea. Fortunately, doing so requires very little money on your part. In order to rent out a space, it needs to meet rental standards and codes. If your unit fails to meet standards, you can get yourself …
The primary goal of a rental property is to generate profits that can turn your venture into a beneficial gig. But this can only happen if you know how to do careful financial planning. The right strategies can save you money on your rental property and help you avoid fluctuations in your margins. That means, …
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Everyone can agree that real estate is on the rise due to increased demand for houses. People are on the lookout for affordable homes, but they encounter numerous challenges such as increasing real estate prices. Therefore, now is a good time for homeowners to rent out a portion of their home. A portion can be …
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Florida’s real estate market is one of the best in the United States. The weather there is quite sunny and warm throughout the year. Plus, the beautiful coastline will make anyone fall in love with the state. The latest report by One Sotheby’s International Reality suggests that home prices have reached an all-time high in …
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What Does Flipping Houses Mean? Flipping a house usually means buying houses that need improvements, making those improvements, and then selling them at a higher price. These homes can require a lot of improvements and the buyer has to make wise renovation decisions in order to make a profit in the end. House flipping can …
One of the most common hazards in a rental property are broken or uneven stairs. For example, say you have an uneven step and your tenants falls and breaks their leg. Whose at fault? Can landlords be held responsible for their tenant’s injuries? To answer your question, it’s very likely you could be held liable …
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Despite its benefits and importance, homeowners insurance can be a confusing topic for many. It’s not uncommon for policies to have confusing language that can be hard to understand. As a result, many homeowners may be unaware of what their policy actually covers. According to a recent study by realtor.com, only 56% of people knew what …
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Fall is not just about cozy sweaters, colorful leaves, and cool breezes. For homeowners, it’s a reminder that winter is just around the corner. Landlords will need to winterize their property for the tenant. Winterizing your property for tenants is your responsibility, especially if your property is in a region that experiences longer, colder winters. To …
Continue reading “Fall Maintenance To-Do List for Landlords”
