How to Communicate a Rent Increase to Your Tenants

Posted by & filed under Rent, Rental Market, Rentals, Tips.

Rent Increase

Although raising the rent is part of the responsibility of being a landlord, the process can often feel daunting. To meet your own financial obligations and keep your tenants happy, there needs to be a bit of a balancing act. If you raise the rent too high, you risk losing good tenants; if the increase…

Should Landlords Ban Guns at Their Rental Properties?

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With the rise of gun violence in schools and public places, should landlords consider banning guns at their rentals, too? This is a question that doesn’t have an easy answer. In some cases, it’s a matter of what the state law says and in others, it’s a matter of personal preference. Before making a decision… Read more »

Does Rental History Show Up On a Credit Report?

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Credit reports offer invaluable information to base your rental decisions on credit scores, tradelines, income-to-debt ratio, and much more. One thing you won’t find on a credit report, however, is an applicant’s rental history. Since landlords and property managers aren’t creditors, they don’t automatically report tenants’ payment history to the consumer credit reporting bureaus. What’s… Read more »

How to Begin Building an Emergency Rental Fund

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Whether you’re a homeowner or a landlord, it’s always wise to have an emergency fund to pull from when unexpected expenses come up. Most financial advisors recommend property owners save at least 3 – 6 months’ worth of expenses to cover maintenance, repairs, mortgage loss of income, and other financial concerns. However, only around 39%… Read more »

Best Practices for Calculating Rental Rates

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Landlords Property Managers Contact TSCI Whether you’re a first-time landlord or an experienced pro trying out new locations or property types, deciding on how much to charge for rent can be one of the most difficult parts of the rental process. However, it’s also one of the most important decisions you can make for your… Read more »

Do You Need to Disclose a Previous Tenant’s Death?

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Most landlords are aware of the disclosures they have to make about lead paint or mold, but what about a death at a rental property? Depending on your state or municipal laws, you may be required to disclose whether there’s been a death on the premises. Failure to follow your state or local guidelines could… Read more »

Is It Legal to Discriminate Based on Zodiac Signs?

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Astrology has become increasingly popular over the last few years, especially among young people. This might not seem relevant to the rental housing industry, but zodiac discrimination has become more common than one might think. The question is, is it legal? Zodiac discrimination first became publicized a couple of years ago, when a New York… Read more »

How to Handle Rent Collection with COVID-19

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The Federal eviction moratorium is set to expire on June 30, 2021, with nearly 9 million households behind on their rental payments. Although it’s unclear whether the moratorium will be extended as it has in the past, it appears this is the end of the line for it, along with the few remaining state moratoriums… Read more »

Important Steps to Take When Vetting Rental Applicants

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Although interviewing applicants for your property may feel daunting, it’s an important step in finding the right tenant. Finding a tenant you have a rapport with from the beginning and who meets your rental criteria can make the whole rental experience easier on everyone and helps to ensure your relationship remains mutually respectful. So, which… Read more »