Story time from the broker Recently I’ve taken over management of some rental properties where the brokers of the previous management companies (2 different ones) have gone MIA. We cannot even get them to provide the leases for existing tenants. At least one of them has apparently walked away with 2 months of rent monies … Read more
When a person is unable to make the mortgage payments on a home, the lender may decide to foreclose and try to sell the property to make back what is still owed. While it makes sense that the lender would want to sell the home for as much as possible, they are often only concerned … Read more
The Nevada state legislature passed SB151 this season and it was signed by the governor. It took effect July 1, 2019. Here is a summary of the changes to Nevada landlord-tenant law: The notice period extends from 5 days to 7 judicial days. We must hire a licensed process server, Constable, or attorney to post … Read more
Understanding which repairs are your responsibility as a landlord and which can be handled by the tenant can be tricky. You are obligated to ensure that the property is habitable. One sign that you should be the one to take care of it is when addressing an issue themselves could cause a safety issue for … Read more
One of the most important things to consider when investing in rental homes, is whether to upgrade, and how much. Many sources will mention things like “re-positioning” or “value adds” to maximize the rental value. However, it is important to not go crazy with this! And really, what does “re-positioning” actually mean in real estate? … Read more
When getting your home ready for rent or sale or when appraising its value, you may have to dig deep to catch one major problem: foundation troubles. Although foundation problems can be hidden in their early stages, not paying attention to them can leave you at risk for a home that may eventually have trouble … Read more
One of the most important things that landlords look for in a good property manager, is how fast they can get a tenant! Extended vacancy time costs money. Minimizing that helps investors maximize ROI for their rental properties. Conversation with an out of state peer prompted me to run some numbers, to see how Strawberry … Read more
When you have a rental property that you own, there will come a time when you’ll need to look for a tenant who wants to occupy the space you have recently purchased it or the previous renters have moved out. You’ll need to make a few changes and create an appealing setting if you want … Read more
Due to changes in credit reporting rules, civil judgements like landlord debt and evictions are no longer included on credit reports. I have been checking local court websites for these things since I first started managing rentals (for entirely different reasons). I noticed some years ago that often I found judgments that didn’t show up … Read more
Once you’ve reached a level of financial security that allows you to fulfill your daily needs and most of your wants, it may be time to purchase an investment property. Investment properties can provide you additional income through renovation and resale or as a lease property. Even if you don’t use the property for investment … Read more