Running a rental property is just like any other business: it comes with risks. Since a property’s condition can deteriorate with time due to normal wear and tear, it may not look as it did before. However, some of these issues may come from the tenants’ activities or neglect.

Damage by tenants ma...

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Congratulations on becoming a landlord! The journey has certainly been anything but easy, especially if it’s the first time you’re doing it.

Now, being a landlord comes with a slew of responsibilities, and key among these is having a lease agreement in place. As a landlord, it’s paramount that...

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Part of being a landlord is equipping yourself with the skills to manage tenant complaints. Do you have the patience to handle complaints from emotional renters? Can you remain calm when facing a crisis in your rental property?

Things can easily spiral when you aren’t prepared. Additionally, le...

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Getting involved in a particular industry means familiarizing yourself with the technical jargon used in the field. If you’re thinking of exploring the field of real estate investing, it’s time to catch up on the vocabulary used here. So, when you’re conversing with realtors and real estate profes...

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Normal Wear and Tear

June 14, 2021, 9:53 am

As a landlord, when it comes to security deposit reconciliation and returning full or partial security deposits to tenants, State laws are rather specific. The cost of normal wear and tear must be charged to the property owner versus withheld from the tenant’s security deposit.

It is important to...

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