If you're going to invest a significant amount of money into property improvements, then you're best served by investing in kitchens, bathrooms – the spaces of the unit where residents spend the most time.

As the old adage goes: it’s better to be safe than sorry. Always be sure to invest in due diligence before closing on a property. This is the best way to mitigate the risk associated with buying a rental property.

So many investors focus on where to buy a rental property that they often forget to put thought into what types of rental property to buy.

Whatever your situation or experience level, there are pitfalls to avoid when shopping for an income property. Getting it right, we don’t have to tell you, means a new source of cash flow. Getting it wrong means you may have a money pit – and no one likes those.

Property owners and landlords are encouraged to do due diligence. Listing multifamily units on Airbnb is more complicated than realized—with several considerations to make along the way.

Actively communicate with residents throughout their lease. Set expectations from the outset. Who’s responsible for what maintenance and repairs? Who pays which bills? Then, keep lines of communication open – especially if there’s any sign of property damage or if you start to have concerns about your residents’ activity.

Resident estoppel certificates are a tool that investors should consider using as part of their due diligence process. Estoppel certificates are a powerful way to confirm the true facts about existing lease terms, thereby providing a full picture of the deal prior to entering any formal purchase and sale agreement.

Real estate and technology are often looked at as different realms—but there’s growing overlap between the two sectors. Real estate investors need to monitor these trends closely to understand how advances in technology will impact the future of real estate. Those who remain at the forefront will be best positioned to protect their portfolios as the market shifts.

Having a house fire is one of a landlord’s worst nightmares. Because it happens so infrequently relative to other issues, most landlords panic and don’t know how to respond in the aftermath of a fire. In the event of the unimaginable, follow these procedures to remain level headed during an otherwise stressful period. Moreover, remember: as long as everyone is safe, this too shall pass. Investment properties are valuable and mean a lot to their owners, but they can be rebuilt and losses recovered in due time. 

Pest control disputes can be tricky because usually by the time they arise, there’s already a problem that needs to be dealt with and should be done so immediately. Dealing with the root causes of pest control is a small price to pay in the long run.

Owning and operating rental property is a great way to earn passive income. Even though it’s “passive” and doesn’t usually require intensive, day-to-day management does not mean that property owners should have any less of a business mindset. Solid planning, preparation, and control of finances are just as important for property manager as they are for entrepreneurs in other industries.

It should go without question, but always be sure to meet with property managers in person before deciding to hire someone. This will give you a better feel for the person or group.

However, you ultimately decide to go about attracting tenants, remember this one thing: discriminating against households with children is 100% illegal. Make sure you understand all local, state, and federal laws as you advertise, screen, and select tenants for your rental properties.

Now that it’s the busy summer season, with budget season around the corner, and people will be spending more time outside—so there’s no better time to invest in a few low-cost improvements to boost your multifamily property’s curb appeal. The time and money spend on projects like these can translate into even more significant gains when you consider the impact it will have on finding (and retaining!) high-quality residents over time.

Prevention is always the best strategy, but sometimes even the most cautious of landlords can’t stop unwelcome visitors from camping out. If you find a squatter on your property, call an attorney and be sure to follow all local procedures for eviction as laws inconspicuously vary from mild to wild in various states.

Apartment owners already have a lot to consider because home is where pets find loving care. Adding pets into the mix can seem like an unnecessary complication. However, in our experience, pets can be an excellent addition to your property if policies are laid out clearly and managed adequately.

Before you run out and buy the closest multifamily property near your local college or university, consider the unique challenges landlords face when renting off-campus student housing.