A tenant has moved in recently and complained that he’s not able to quietly enjoy his rental space. The tenant living adjacent to him has been holding a party every weekend till the early hours of the morning. The complaining tenant told you that if this doesn’t stop, he would move out and demand a full rent refund.
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Are you looking to make your rental property pet-friendly?
Attracting long-term tenants is the goal of most rental property owners. One of the most efficient ways of cutting down vacancy rates is by allowing pets in your rental. Since many households in the U.S. have pets, you are bound to attract more renters.
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It’s generally acceptable and fairly realistic that damages occur in a rental property. But can a landlord prevent them from frequently occurring? The answer is yes.
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Have you come across the term “normal wear and tear” recently? If you’re a new landlord, you’ve probably heard it. Landlords are responsible for any normal wear and tear that happens in their property, and distinguish it from tenant damages.
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Are you looking to buy your first investment property?
Becoming a landlord can make a significant difference in terms of financial security and growing your wealth. Rental property ownership, however, does come with its distinct challenges.
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The longer a tenant stays in your property, the more autonomy they wish to have. This can reflect on their need to decide the color of the rental unit. Most landlords prefer to use neutral paint colors such as cream and beige for easy maintenance, while some tenants prefer bold colors to express their personality.
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As a landlord, you want to make the most return on your investment property, and in most cases, you have a right to charge as you see fit. But to raise your rent, you have to follow proper procedures.
Keep in mind that there may be limits to how much you can charge and when you can change your rates. Here are general guidelines for raising your rent each year.
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Can’t seem to keep your Kansas City tenants long-term?
Hight tenant turnover rates can cost a property owner a lot of time, effort, and money.
To be a successful and profitable landlord, you need to reduce or eliminate your turnover expenses. You can do so by keeping good tenants in your properties longer or incentivizing prospective tenants to choose your property quickly.
A discount can help accelerate the tenant search and lessen the negative financial impact tenant turnover is costing you.
Considering its varying advantages, offering a short-term deal can prove to be beneficial in the long run. The incentives that you offer your tenant will cost significantly less than what it would to maintain an empty property.
To learn more, keep on reading for 6 tips that will help you keep your Kansas City tenants:
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Being a landlord isn’t all about collecting rent at the end of the month. There are many important tasks that must be completed in order to own a successful rental property in Kansas.
An important chore among these tasks is property maintenance.
A well-maintained property is appealing to potential tenants, and attracts the right ones to your rental unit. It also improves their quality of living, making them less likely to leave, avoiding vacancies and high turnover rates.
Read more »Outdoor concerts, parks, and numerous museums come together to form this fantastic city. It even attracts individuals who live out of town who commute into the city for its numerous attractions.
As a local Kansas City business, we know our area and what it has to offer. If you’re new to the area, you need to check out these six must see places in Kansas City.
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