POSTS TAGGED : landlord

Crafting a Win-Win Lease Agreement: How to Negotiate with Landlords

Negotiating with landlords is key to effectively managing your business lease and rent obligations. You’ll want to strategize thoughtfully to secure favorable terms and ensure optimal rental costs, laying a strong foundation for your thriving business.

Business property leasing agreement

This article explores practical strategies you can employ to engage landlords, secure advantageous lease agreements, and foster a harmonious landlord-tenant relationship, all contributing to your business’s ultimate success.

Here are some tips for negotiating your lease or rent obligations to get the best deal for you:

  1. When getting ready to negotiate, assess your business needs and how they may affect the lease. For example, if you need to renovate the property, negotiate the cost of those into your lease agreement.
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Do You Need Landlord Insurance?

If you are a landlord or thinking about becoming a landlord, there are 101 things to think about. Should landlord insurance be on your list?

Landlord and his property tenants

Whilst there is no legal obligation for a landlord to take out landlord insurance, you might find that you need it to take on tenants. That’s because your mortgage lender may insist that you take it out, as a conventional home insurance policy doesn’t offer appropriate cover for rental activities.

That’s not the only reason why you should take out landlord insurance though. If you want to safeguard your financial future and protect your investment, it should be at the top of your list of landlord admin.…

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The Property Rental Business Risk of Not Running Background Checks

Business is risky. Being a property owner or investor is even riskier, especially when it comes to renting out your investment property to strangers for any amount of time. Sure, you could ask a friend or a family member to move into your rental property, but you still need to screen each applicant so you don’t make a huge, costly mistake.

Applicant background check

So, what are the risks of NOT running background checks on the applicants?…

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5 Benefits of Using Tenant Screening Services

A landlord dreams of finding the perfect tenant for his property. Unfortunately, finding a good tenant is never easy. The applicant may seem honest, respectful, well-groomed, and responsible. But you never know if they are hiding skeletons in the closet until something happens to the rental or lease.

Tenant screening

Tenancy problems are real, and they happen to even the best landlords and property managers. Getting tenant screening services avoids such a scenario.

Think about screening a tenant FBI-style. It will do a thorough risk assessment by checking on your prospective renter’s background on your behalf. The service will also investigate the applicant’s financial status and lifestyle.…

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7 Tips for Succeeding in the Landlord Business

Like any profession, success as a landlord depends on hard work, determination, sharp business acumen and a touch of good luck. Many people find investing in real estate a stable way to boost their income. However, those who rush in with little advanced preparation may find their landlord journey filled with more money pits than income-producing properties.

Landlord business tips

Attaining success as a landlord starts before even selecting an investment property. Those who first take time in educating themselves often report greater satisfaction with their side hustle in property management. Some even go on to make their landlord duties a full-time endeavor and reap high rewards in passive income.…

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4 Things You Should Know About Being a Landlord

Being a successful landlord involves more than simply collecting the rent each month. Understanding legal requirements, adapting to problems, and being compatible with many different personality types are all essential skills.

Landlord

Not only skills, you also need tools to manage and market your property better. For example, you should use websites that let you to advertise rental property for free. You should also use property management apps that can help you with rental management, maintenance, and so on. And don’t forget, there’s a toolset that’s called social media.

As you can see, being a landlord is not everyone’s cup of tea. …

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Pros and Cons of Being a Landlord

Being a landlord is a great way to earn more income on the side. It also comes with its own set of challenges, from problem tenants to maintenance costs. Below are the pros and cons of being a landlord so you can decide if it’s the right job for you.

Landlord

Pros

Extra Income

One of the biggest appeals of becoming a landlord is the extra income. As long as you have reliable tenants in your property, you can count on a steady cash flow each month. The monthly payment should be enough to cover the mortgage of the property so you can hold on to the property as it appreciates in value.…

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