A good lease agreement with adequate supplemental documentation should cover a variety of issues that arise in property management. Having specific lease clauses that pertain to important issues can help avoid problems. In our opinion, yes, your lease agreement should have included a clause that prohibits a tenant from subleasing any part of the rental […]

When a tenant wants to leave before the expiration of his lease and asks the landlord to agree to a substitute tenant to take his place, the landlord’s options may depend upon (1) state statutes, (2) the legal obligations under the lease agreement, and (3) the details of the proposed arrangement. In general, you could […]

For many landlords, outsourcing a job is the more efficient way to produce the desired work result, particularly when the work should be/must be done according to licensure and code standards. Most often this is the case for extensive property repair or remodeling work. A landlord may need to select a general contractor for a […]

Most landlords probably use unlicensed contractors more often than they use licensed contractors, primarily because they’re usually cheaper, at least when getting bids. You should understand the licensing requirements of your state to give you some idea of the value to put on the license and, of course, to know if you are required by […]

The basic rule before starting any project is to define and analyze the project. Obviously the type and size of the project, the requirements of the state and county or city building standards and codes, and resource availability will be major considerations. Even if you have the skills required for a particular task, there are […]

Winterizing your rental property before cold weather conditions set in can help protect your property and benefit your tenants. Winterization tasks will differ depending upon the location of the rental property, the age of the property and the property’s condition. The following winterization tips are some of the protective measures that a landlord can take […]

Insurance premiums can be a significant cost of property ownership, but insufficient insurance can result in financial disaster.  The location, type, age, and construction quality of the subject property are the important factors in determining premium costs. An experienced insurance agent can help a landlord decide the most important types of coverages, how high a […]

In many areas of the country, utility costs have increased at a much faster rate than rents. For those landlords paying for water, electricity, and gas, the costs of utilities usually represent the largest non-mortgage expense. Reducing utility costs is an important matter in property operations. There are two basic approaches that a landlord can […]

Many landlords try to minimize expenses to the extent that they end up being penny wise and pound foolish. Rather than minimize expenses, a better approach is to control expenses in order to maximize profit. Of interest to most landlords are ways to control expenses for maintenance and repairs. Controlling expenses rather than minimizing expenses […]

When trees are located near property lines with neighboring properties, property owners must be aware of risks associated with their trees and take steps to minimize those risks. If you’re paying any attention to your property you may know in advance that there are trees or limbs of trees on a neighboring property that represent […]