Being a landlord can pay off financially, but a landlord’s wealth is accumulated from hard work! Every landlord eventually runs into Murphy’s Law, when “Everything that can go wrong, will go wrong.” When you run into a new situation as a landlord, you may be wondering how to handle it. Read more…
Once again, we welcome our contributor Elizabeth Colegrove from Reluctant Landlord to offer her personal experience on dealing with landlording stress. Recently I spent a couple of months with a prospective tenant. They were applying sight unseen, so I took at least two hours to answer their questions and do Read more…
Getting involved in real estate investing is a rollercoaster by its very nature. Your emotions can rise to their best and sink to their lowest each and every time you bid on a property. It can be discouraging, feeling like you are always on one end or the other of Read more…
Introduction Rent control legislation refers to specific governmental action, either in the form of legislation or regulation, that control and cap how much a landlord can charge a tenant and how much rent can increase per annum for existing contracts. While many cities across the United States have enacted some Read more…
Investment rental properties can earn you some serious cash, granted you are willing to work for it. Sure, you can hire a property management company to do it for you. However, that means you’ll be sharing some of the profit, as well. There are undoubtedly several tasks involved in renting Read more…
It is natural to feel a range of emotions when a loved one passes. If you have also just inherited a property, you may be feeling confused and anxious. Now in the midst of mourning the loss of your loved one, and possibly settling their estate, you are responsible for Read more…
Dealing with a death is always hard. When the person who has passed is a tenant of yours, the stakes may seem even higher. Perhaps you had a personal relationship with the tenant. Your emotions may be running high, and you might not know what to do first. While Read more…
Planning for your estate is not the most enjoyable task, but it is essential. Having a will and estate plans in place will save your heirs the difficult task of deciding how to divide your assets. Creating your will and codifying your estate plans can be expensive, but it Read more…
No landlord wants to get the call that their tenants no longer want to live together. Whether they are romantic partners or not, these conversations are rarely easy. One tenant may want something from you, such as releasing them or the other tenant from the lease. Maybe they want you to take care of kicking the other person out of the unit for them.
Although you place a tenant with the hopes that they will remain in your property for the full term, many factors can change that destiny. The tenants may have decided to buy their own home. Maybe a new job will take them to a new location. Their family situation might change. Or there could be many other reasons. (If they are a member of the military, remember that servicemembers have special protections allowing them to leave a rental agreement without a penalty.) No matter the reason, knowing that a tenant plans to leave can be frustrating and emotional. It is important to keep these things in mind: