In the previous RL Property Management episode #2 (https://rlpmg.com/how-to-pick-a-property-management-company/) we covered how to evaluate the local property management company marketplace. In the video below, Peter with RL Property Management covers step 3 of 5 that...
All of these assumptions are wrong. They won’t declare bankruptcy while living at the property And if they do, you can evict them They won’t make partial payments They won’t make partial online payments They understand your late fee policy They will pay the water...
We once had a fellow real estate investor ask: “I have a crack going horizontally straight across the basement wall at one of my properties. I am assuming it is a result of hydro-static pressure. I have had the drains snaked and the tenant does a decent job of keeping...
Peter Lohmann, RL Property Management, 2019. Something rarely discussed are the long-term advantages of holding rental property. Many “helpers” (realtors, lawyers, bankers, etc) in the real estate industry make money every time you transact...
Like all contracts, leases are not all that useful until there are issues. Here are 5 key lease clauses that you should ensure are clear and present in every lease: Who owns what? Range, Refrigerator, Dishwasher, Clothes Washer, Clothes Dryer, Remotes, Keys, Trash...
RL Property Management generally recommends that rental property owners hold at least 6 months worth of rent in reserve for each unit that they own. Your goal is to be prepared when you need a new $5,000 HVAC system or a $9,000 roof or a new $1,200 refrigerator. This...