This is an update to our “Airbnb: Does The New Kid On The Block Present An Investment Opportunity?” posted in March, 2019. The year was 2007. Three air mattresses and the promise of breakfast turned an apartment into a weekend rental, and Airbnb was born. Nearly 15 years later, in more than 190 countries and 81,000 cities, the short-term rental …
How Do You Know If It’s Time To Remodel Your Rental Property?
Outdated fixtures. Monthly phone calls from tenants about broken-down appliances and other repairs. Carpet that’s getting close to the seven-year mark with pet-owning tenants most of that time. How do you know if these things are signs that it’s time to remodel your rental property? Whether you’re a new or experienced landlord, it may be easy to tell when the …
Need Pet-Friendly Rental Housing? Here Are 5 Simple Tips for Finding the Best Fit
“Pet ownership has increased 20% since 1988.” By 2021, two thirds of all American homes have come to include pets, and nearly all of those pet owners consider their animals part of the family. In 2019, Zillow Group Consumer Housing Trends Report found that nearly half of the families who are renting homes own pets, and confirming the wider trend, …
Home Inspections — The Pros and Cons
In a seller’s market, when it’s easier to sell a home than to buy one, it can be tempting to get caught up in the moment and do whatever you can to beat out the competition for the home you’ve been waiting to buy. You may have heard that one way to get ahead on the list of buyers is …
Blending Emotion with Logic When Searching for a Home
Is it possible to buy anything without some emotional attachment? Even when we grab a slice of our favorite pizza, the smell and taste of it can bring back memories of time spent with friends and family. And pizza is such a small thing to spend a few dollars on. A house is so much bigger. A bigger investment. A …
The Ins and Outs of Insurance for Landlords and Renters
Renting or leasing a home has its fair share of difficulties, and the one thing you don’t want to forget about is insurance. The reality of the process, however, may mean call center wait times, talking to numerous people before getting to the right person and then being asked so many questions and you may not know all the answers. …
A Guide to Good Tenant Relationships
It’s a binding contract. It’s also a handshake with eye contact. You’re the landlord, they’re the tenant. You have a business relationship and a human connection. Some of the landlord-tenant relationship is simple, black-and-white business. But some circumstances ask you to honor the human side of the relationship with a little psychology and a little give-and-take. Here are some tips …
Home Repairs to DIY & Those You Should Leave to the Pros
“Do it right for less.” It’s “how doers get more done.” Besides the catchy slogans, there’s a reason Lowe’s and Home Depot are doing so well. DIY home repair is alive and thriving. Whether you want to save money, or you simply enjoy the satisfaction of working on your own home, it’s hard to resist the siren call of hammers, …
First Time Managing Your Own Rental Property? Avoid These 7 Rookie Mistakes
It seems pretty easy. You buy a property, make sure the appliances work, slap on some paint and boom—you’re in business. The thing is… being a landlord IS a business. Just as you’d approach your day job like a professional, you should approach renting to tenants like one. But everyone is a new landlord at some point, and mistakes are …
The Pros & Cons of Renting to College Students
A college town means college students. Which means young people who need a place to live. If you own rental property near a college, it’s only natural to explore the possibilities of meeting their demand with your supply. It can be an excellent business move. But it helps to know what to expect when you rent to students and how …