March Madness: How to Pick a Great Bracket & Great Rental Tenants
Everybody loves March Madness. Even property managers! Chances are the only repair calls will go to the cable television companies if their television screens start to flicker.
But now the hard part starts; trying to predict who will win each game of the NCAA tournament. Picking a perfect bracket is tough; no one did it last year after millions of entries. The odds are seriously stacked...
Learn MoreTenants Love Rental Showings?
Continuing with the theme from our last blog, below is another letter (this time from a tenant) entitled, “I’m Lonely, Please Send More Visitors.”
Dear BDF Realty,
I was disappointed to give my 30-day notice to vacate the other day. You guys are the greatest property managers (BDF side note: Wow! Thanks!) and it will be depressing to leave the rental home. I mean really depressing.
But...
Learn MoreTenants with Pets: 5 Steps to Protect Your Rental Home
As a property management company in Charlotte, we sometimes get the most touching letters from owner clients. I’d like to share one of them entitled, “Pets in My Home Please!”
Dear BDF Realty,
Thank you for agreeing to manage our property; we’ve worked really hard to make sure our property is upgraded and clean for the new renter. The new paint and carpet really makes it show well! We...
Learn MoreRenting My Home Out? What To Do, What Stays, What Goes, & the Lawn
As a property management company in Charlotte, we’ve fielded many different questions from homeowners who are contemplating renting their homes out to the public for the first time. Below are a few popular questions from them in our proverbial mailbag:
What should I do to get my house ready for the rental market?
Make it look good.
Okay, that was the succinct answer for our busy clients;...
Learn MoreWhat is the Key to Marriage & Great Property Management?
I was in a marriage communication class this past Sunday at my church. And the leader began the class by loudly exhorting:
Who wants to have a GREAT marriage???
Everyone enthusiastically cheered and nodded assent. I quietly commented to my wife that a great marriage did, in fact, seem better than the alternative.
As I felt a sharp elbow in my rib cage, the class leader seized the building...
Learn MoreShould I Sell My Rental Home?
From the mail bag… (aka a question I may have made up to write about)
Q: I have a few occupied rental homes and wonder if I should sell one of them now that the market seems to be improving. What are your thoughts?
Oh, this is a surprising question from left field! And a great one! Kudos to you, mighty thinker!
It is a tough decision on whether to unload a rental property. If you decide...
Learn More3 “Insider Tips” When Buying Your First Rental Home
I got a call from a friend of mine from college, “Rich”, a few weeks ago. After the prerequisite ribbing was completed (Do you have any hair left? Is your Linked-In profile photo from your high school yearbook? Are you still awful at basketball?), Rich got down to business:
“I’m thinking of buying my first rental home for investment. Got any advice?”
Me: “Ummm… have you looked at the...
Learn More
“When To Evict Or Not To Evict”, That Is The Question
“I’ll gladly pay you Tuesday for a hamburger today…”
Wimpy
“I will have the rent for you next week- guaranteed!”
Late Tenants
As a property manager in Charlotte, collecting rent is obviously one of our main functions (in my opinion, the most important function!). Our primary job is to create the most favorable ROI for our clients; we need to be taking rent in for this to be...
Learn MoreSecurity Deposit Dispersion: Should You Treat Long-Term and Short-Term Tenants Differently?
Scenario #1: Melissa has been in your rental home almost as long as you’ve owned it. And it’s been a good ride! It started out as a standard tenant-landlord relationship with formal calls for repairs and rent checks sent solitarily in the envelope. But over the years, Melissa (now “Mel”) has really grown on you and vice-versa.
It started when she had some tough...
Learn MoreHow Much Should I Fix Up My Rental Home for the Next Tenant?
The perfect scenario:
You are lounging on a sunny, deserted beach with your loving wife by your side. You have a cold drink in your hand as you marvel at the solitude and beauty of your surroundings. The only sounds you hear are the waves gently crashing in front of you and the occasional fluttering of a seagull’s wings. The sun subtly warms your...
Learn More