What is Normal Wear and Tear for a Rental Property?
A tenant’s lease is up, and the landlord finds the now vacated unit in a state of disrepair. The landlord notifies the tenant of the issues and advises the tenant that the security deposit will not be returned. The tenant fires back a response that there is no damage—just “normal wear and tear.” Who’s right? […]
What Does the Latest Eviction Ban Mean for Tenants & Landlords?
Last week, the CDC announced that it will be extending an eviction ban in counties “experiencing substantial and high level of community transmission” of COVID-19, which is expected to cover 90% of renters throughout the United States through October 3, 2021. Naturally, this is a huge relief to tenants who are struggling to pay their […]
Tips for a Smooth & Successful Appraisal Process
Though we’ve previously discussed best practices for appraisals, as well as best practices for pre-sale inspections, there’s still more to be said about the appraisal process and making sure that it goes off without a hitch. In investing, the appraisal process is crucial to ensuring that you’re getting the most out of the work that […]
Why Did Lumber Prices Get So High?
Thanks to the global COVID-19 pandemic, consumers have borne witness to some bizarre economic events over the last year and a half. A stock market crash in March of 2020 was immediately followed by a meteoric recovery. Toilet paper, hand sanitizer, and cleaning supplies (among other consumer goods) were nearly impossible to find for several […]
Best Practices for Property Management Agreements
A property owner can choose to manage their own properties, or they can choose to hire a professional property manager. While the property manager option will obviously cost more up front, it can provide significant savings in terms of time and effort for the owner over time. All too often though, we hear stories of […]
Should I Use an LLC to Purchase Rental Property?
Most of our borrowers set up a Limited Liability Company (LLC) to purchase their investment property. An LLC is a type of business structure that may include individuals, corporations, other LLCs, and foreign entities. Why do our borrowers tend to operate through an LLC? Operating through an LLC provides protection for the investor’s personal assets […]
To Buy and Hold or Fix and Flip?
The age-old question for real estate investors is: should I buy a property to rent out (“buy and hold”) or should I purchase it, fix it up, and sell it (“fix and flip”)? Buy and holds are a long-term investment whereas fix and flips are a short-term investment. Fix and flips require much more concentrated […]
Spring Pest Prevention
Spring has sprung, and with that comes an influx of annoying critters—both inside and outside the home. How can those pests best be safely controlled? Tips for Keeping Pests at Bay Indoors The first step to protecting the interior of the home from pests it to make sure their access to the interior is restricted. […]
Refinance Your Rental Property the Right Way
You are ready to refinance that rental property and have lined up a lender. The lender sends you a document request list and lets you know to expect a call from an appraiser to arrange an inspection on your property. Everything should go swimmingly…until it doesn’t. While we can’t claim we’ve seen it all, we […]
Terms to Consider Including in Your Lease Agreement
While no lease agreement can contemplate every possible scenario that might arise, we have collected a list of terms a lease agreement might be missing that are worthy of consideration. Please note that we are not suggesting that you should include any of these terms; this is simply a compilation of ideas that we came […]
