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Being a landlord can have a lot of perks. From a regular monthly income, to numerous tax deductions, to investment diversification. Admittedly, though, the monthly passive income is the most lucrative perk. As long as you have a great tenant, you’ll be guaranteed a recurring income for many months to come. And usually, you can always increase the rent amount to generate an even higher return on investment. That said, raising rent to generate more rental income isn’t always ideal. Why? You may begin to experience a high tenant turnover rate. I…

Collecting rent on time is one of the most crucial aspects of property management. However, it can often be a source of stress for landlords. Late payments, missed payments, and the awkwardness of chasing up tenants can all contribute to the challenge. But rent collection doesn't have to be a headache. Implementing a few strategic approaches can foster a smooth and efficient process that benefits you and your new tenants. This article will discuss various strategies for ensuring on-time rent payments, from providing convenient payment options…

If you own a rental property, you should familiarize yourself with your local security deposit laws. You probably are already charging tenants a deposit before moving in. While security deposits are meant to provide landlords with a safety net against financial losses, there are instances where the amount paid upfront is not enough to cover unpaid rent or other damages. In this article, the experts at Brentwood Square Management Services, Inc. will tell you what to do if you ever find yourself in this situation. Keep reading to learn how to …

Are you a landlord who dreads the end of a tenancy, wondering if you have everything you need to ensure a smooth transition? Move-out letters can be a crucial tool in your landlord toolkit, helping you set expectations, avoid misunderstandings, and streamline the process when a tenant decides to move on. In this article, we’ll break down the key components of a move-out letter and explain why it's essential for both you and your tenants. From outlining the process to handling deposits, we’ll guide you through the best practices to ensure you'r…

First-time landlords and even long-term ones often wonder which communication method is best when it comes to staying in touch with your tenants? It's a common question, and finding the right answer can make a big difference in how smoothly your rental business runs. Good communication is key to building strong relationships with tenants, resolving issues quickly, and maintaining a positive reputation. Whether it's notifying them about upcoming maintenance, discussing lease renewals, or handling emergencies, the way you communicate can set the…