Monday, October 17, 2016
Sooner or later, every landlord will have to evict a tenant. Such an uneasy situation stands to sour the tenant-landlord relationship and foment resentment in the evicted. As a landlord, you have the legal right to evict tenants for valid reasons, such as failure to pay rent and violation of the lease agreement or occupancy ordinances.
However, it is also your responsibility to do it correctly. While Bellflower property management companies can do this job for you, it’s still important for you to know the proper eviction procedure.
Send a Written Notice First
You must first issue a notice to the renter. The notice should stipulate a time period in which the tenant can make up for the violation of the agreement. Avoid delay in issuing the notification because this could affect your cash flow.
Saturday, October 15, 2016
One of the biggest causes of landlord headaches is unpaid or delayed rent. Because this affects cash flow, the business could face problems in other aspects such as repair and maintenance, a significant piece of the management budget. Given this, an efficient payment system should be in place to hold tenants accountable and encourage them to pay on time.
There are techniques that property management companies in Long Beach, CA recommend to help you collect payment properly.
Automatic Payment System
Employing a system for automatic rent payments will avoid human errors, such as tenants forgetting to settle their dues. An auto-pay or auto-deduct assures you that payment collection is accomplished on time. You can set this up through different platforms, including automated-clearing-house debit, online bill pay, and post-dated checks.
Thursday, October 13, 2016
The success of an apartment business greatly depends on the type of tenants it accepts. As a landlord, you can’t simply allow anyone to rent your property. You need to set qualifications to prevent missed or delayed payments, conflicts, and inappropriate behaviors at the property. To properly qualify tenants, you need a thorough screening process. This is an important step to determining a person’s background, rental history, and financial capability.
There are important steps to remember during the screening process.
Creating a detailed application form is essential to obtaining all the information you need about the tenant. You may want to gain details about their current and previous employers, income rate, bank account and credit card information, personal references, and their previous landlords’ contact numbers.
Tuesday, October 11, 2016
Problems are inevitable when operating a rental property business, but you can minimize them by avoiding four mistakes often committed by landlords. These mistakes revolve around tenancy agreements, repairs and maintenance, insurance, rental fees and their impacts on revenue flow. Knowing these pitfalls and how to deal with them will significantly smoothen your business operations.
Inaccurate Tenancy Agreement
Before signing anything, make sure a tenancy agreement covers all the clauses needed to clarify your rights and responsibilities as the landlord as well as the tenant’s rights. Such an agreement is crucial to tenant-landlord relationships, especially as complaints and other concerns arise from both sides during the tenancy.
Sunday, October 9, 2016
Landlords are saddled with duties and responsibilities that often create stress and affect the quality of their lives. The job of collecting rents on time, screening tenants, and fixing all problems that arise can take all or most of your time and energy. As a result, landlords find themselves buried in unfinished tasks and a phone that keeps on ringing with tenants complaining about broken facilities and utilities.
If you’re starting to see yourself in this situation, ignoring it won’t make it go away. You need to face the problem and know when it’s time to seek help from a Long Beach, CA property management company.
Thursday, October 6, 2016
Leasing an apartment is not an easy task. It is wrought with vexing challenges, such as setting the rental rates, preparing the place, and screening tenants. Handling all these tasks can prove exhausting and confusing for a landlord. If unable to accomplish all these tasks, your business will not grow.
The good news, though, is that you don’t have to do all these by yourself. Property management companies in Long Beach can assist you and help with an assortment of problems.
Setting a rental fee can be tricky, but property managers can help you determine the best rate based on market location, the rental market itself and its trends. All of this data is used to establish a competitive rate structure that corresponds to the specific qualities of your property.