Property Manager Screening Tips To Find Better Renters

I have had discussions with all types of landlords big and small that have been renting apartments for decades and the consensus is the same; screening for good residents is job number one. The entire Landlord/Tenant relationship depends on having a pre-qualified renter who will respect the other residents, respect the property, respect the rental agreement, and pay the full rent on time when due. This is the cornerstone to running a successful rental business and you must be firing on all cylinders for this one. Missing any one of these components will eventually lead to cracks in the foundation of trust in the relationship somewhere down the line. Lets[…]

Read more

Buying a Rental Property and thinking about becoming a Massachusetts Landlord?

Recently one of my Real Estate Colleagues sent me the following email looking for advice in buying their first Massachusetts Rental Property. The following exchange is a reply to that inquiry that you may find helpful as well. And all of this was written from memory before my morning coffee.  %^)) _______________________ Hi Brian, As always, good to see you again at last week’s NEREIA meeting. You always keep the presenters on their toes! I have a favor to ask. I am in the process of purchasing our first (MA) rental property and was wondering if you have any documentation or advice I can use? _______________________ Hi John, Lots of advice to give. When[…]

Read more

Pretty Leaves! Pretty Soon! Better Prepare Your Residential Apartment Rentals Pretty Quick!

Two short months ago we were enjoying our vacations, going to the beach, having family BBQ’s, and working on our tans. It happens every year when we say it in September, “The Summer went by so fast this year”. This week I have already been stopped in traffic by local school buses loading up sleepy-eyed students in disbelief that they are on their way back to school. As much as I hate to admit it myself, the days are getting shorter and the nights are getting cooler. There is no more denying that patches of color are starting to appear along the highways and it will not be long before the[…]

Read more

Avoid Revolving Door Housing Court Eviction Costs from Bad Property Managers

Your property should not be a revolving door of bad tenants coming in and going out. The number one cost you cannot ever recover from a property, is a vacancy. When you are not collecting rent you cannot cover your debt for the property. You cannot pay your contractors; you cannot pay your mortgage taxes and insurance. The worst of all is that you cannot make repairs and your property accumulates deferred maintenance issues. This is the slow death of a great property all the way down the scale to a poorly performing D property. Well listen closely. I am going to let you in on a dirty little secret[…]

Read more