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.
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.
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.
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… Read more »
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… 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… Read more »
Buying a home is more than just a transaction. It’s a major life event. Making that purchase is tied to people’s dreams, goals, and future plans. That’s why there are laws put in place that safeguard people from discrimination in the housing market. Since buying or selling a home carries many implications for the people… Read more »
Congratulations on becoming a landlord. Sure, the journey wasn’t that easy, but you endured it all and made it to the finish line. So, now what next? Well, if you are like most investors in Kansas City, MO, your investment goal is to make money. In the rental business, this means earning a rental income.
Investing in real estate can be a very lucrative venture. Yet not every property investor succeeds in their endeavors. Before you decide to invest in Kansas City real estate, you need to understand that there’s more to rental property ownership than collecting rent.
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.