As you probably know, owning a rental property can be a great source of cash flow and future equity appreciation. But as with any other type of investment, it has its fair share of challenges. Most dreaded among these challenges is renting to the wrong type of tenant.
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Whether you are just starting out as a landlord or have been in the business for some time, chances are you have considered renting to Section 8 tenants.
Renting to Section 8 tenants provides a host of benefits. They include: Read more »
In Missouri, a rental agreement is a legally binding contract. It sets out the rules and responsibilities tenants and landlords must follow in their rental relationship.
Whether typed or handwritten, as short as one page or longer than five, the lease or rental agreement must cover certain basics. They are as follows: Read more »
While we’re used to seeing these common home inspection issues, some of them might come as a shock to you.
Though, most issues that turn up during home inspections aren’t deal-breakers. Here are the most common issues found in real estate properties, and what you can do about it: Read more »
Investing in a multi-family real estate is a lucrative opportunity, especially since the demand for rental properties continues to grow. If you’re looking for steady income from a reliable source, investing in a multi-family real estate is a good idea.
You can either rent out the property that you invest in, or you can flip it and make it fresh in order to make an immediate profit. However, before you venture into multi-family apartments, you should do some research: inform yourself on property prices, most suitable locations, rental prices, tenant profiles, etc. You don’t want to invest your money in the wrong property and end up with a liability instead of an asset. Read more »
As a successful landlord, you must have a thorough understanding of how to screen potential tenants for your Kansas rental property. Knowing the Missouri rental laws and how to browse through endless rental applications can help you weed out renters with a bad reputation. In the long run, by renting to high-quality renters you get to save time and money. Here’s how to screen potential tenants for your Kansas property. Read more »
Contrary to popular belief, cows don’t roam the streets of Kansas City, MO. In fact, The Huffington Post ranked the city as first on its 2014 “coolest cities to visit” list. Also, it ranked fifteenth on Bloomberg’s America’s 50 Best Cities list.
Kansas City is no New York or Chicago. But, you will still find beautiful homes, fabulous food, and culture for a fraction of what you would pay in those two cities.
Thinking of moving to Kansas City? If so, here is everything you need to know.
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Conflicts between tenants and landlords regarding security deposits are fairly common. These conflicts can be evaded if each party understands the basics of the Missouri Security Deposit law.
The Missouri Security Deposit Laws are contained under the statewide Missouri landlord-tenant laws. The laws allow landlords to collect security deposits from their tenants.
By collecting security deposits, landlords are able to cushion themselves against financial ruin. For example, in the event that the tenant is unable to pay rent or in the event they cause excessive property damage. Read more »
Many tenants who sign a lease intend to stay for the entire period. However, sometimes things don’t always go as planned. You may need to move to get closer to your new job. You may also opt to move in with your girlfriend or boyfriend. And, if you are a student at Missouri State, you may only want to rent when school is in session.
Leases are legally binding contracts. So whichever your reason, you can’t simply walk away from one and break its terms without incurring penalties.
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For many, buying property continues to be one of the best investment strategies. An investment property helps in wealth creation and financial security among other things. However, there is a common misconception that investing in property always produces positive returns.
Although true in many cases, property investing isn’t where you should expect “get-rich-quick” results. Your success will largely depend on how effectively you manage your investment.
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