The eviction process is a time-consuming and costly endeavor for any landlord. Based on a survey conducted by TransUnion, the average cost of evicting a tenant is roughly $3,500 and the entire process can take nearly a month – even before you factor in the fees associated with the possibility of having to take the…
It is not uncommon for renters today to find themselves dealing with property going through the foreclosure process. This article will help explain what happens during the process of renting a foreclosed property. Since it is a likely scenario for many, it is best to be prepared.
Owning rental property can be a good way to supplement (or even replace) your regular income. After all, if you are able to find good tenants who pay on time every month, you can make substantial money while you’re at your day job, playing with your kids or even lying on the beach. According to…
Seasons fly by, and tenants move in and out of your rental property. Now, it’s that time of the year again for you to recruit a new tenant. For any type of demand in the market, interest does not always mean it’s a perfect match. Many prospects will take a tour around your property, assessing the quality and the conditions. Likewise, you would do a similar assessment on these potential tenants to filter and weed out the prickly ones.
If you’re one of over 100 million people in the U.S. who rent an apartment or a house, the concept of “renters insurance” shouldn’t be foreign to you. A renter’s policy is going to cover your personal possessions if they’re stolen or lost in a fire, or other unfortunate events. In some cases, it can pay for you to stay in a hotel if you are displaced by a fire or other natural disaster and can include liability coverage in case someone is injured in your home.
Tenants can come up with all kinds of excuses for late rent payments. With all the negative repercussions for tenants such as late rent fees, bad credit ratings and negative references from landlords, it’s surprising how common this issue comes up. Dealing with a tenant who is late in paying the rent, whether for the first time or a repeat offender, can throw up a number of troubling dilemmas for landlords.
The process of serving an eviction notice and taking a troublesome tenant to court is a headache even for experienced landlords. It is costly and time-consuming, and in the meantime your property can be sitting empty, or worse, occupied by a non-paying tenant. Save yourself the stress by following these five simple golden rules.
Many inexperienced tenants are daunted by the appearance of an eviction notice in the mailbox, and new landlords believe they can simply print a sample eviction notice, send it to their tenant, and move on. It’s not quite that simple!