How to Begin Building an Emergency Rental Fund

Posted by & filed under Rentals.

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

Posted by & filed under Rentals.

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?

Posted by & filed under Rentals.

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?

Posted by & filed under Rentals.

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

Posted by & filed under Rentals.

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

Posted by & filed under Rentals.

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 »

Is My Rental Property Considered a Business?

Posted by & filed under Rentals.

Whether you’re the landlord of a single-family home or you own a multi-unit apartment building, it’s important to understand whether your rental is considered an investment or a business because the distinction can have important tax consequences. If you’re considered a business owner, you’ll receive valuable tax deductions that don’t apply to investors. With tax… Read more »

Tips and Best Practices for Renting a Room in Your House

Posted by & filed under Rentals.

You may not realize it but when you decide to rent out a room in your house, you’re more than just a roommate; you effectively become a landlord. While the rules and regulations regarding roommates can vary based on your location, it’s important to know the details of being a landlord in order to make… Read more »