× Search




Property Management Blog

What Should Be Included in a Residential Lease?

Web Master 0 630 Article rating: No rating

The lease controls the duties of both landlord and tenant. At a minimum, this rental form will:

List all of the occupants of the rental property. Each adult occupant should be listed as a tenant;

Set out the amount of rent that is owed, and how the rent is going to be paid. Late fees, bounced check charges, and other provisions will be included to encourage on-time rent payment. Additionally, provisions will spell out security deposit terms;


5 Reasons Landlords Need a Rental Application

Web Master 0 669 Article rating: No rating

When you think of rental forms, the first thing that probably pops into your mind is a lease. Often, landlords place the emphasis on the that form, because that’s the one that forms the framework of the landlord tenant relationship.
Surprisingly, it’s more likely to be their rental application that trips them up. It would be a mistake to use vigilance in selecting and implementing the perfect lease agreement, only to neglect the rental application.

See How Property Management Can Save You Stress

Web Master 0 631 Article rating: No rating

Is it time for you to find a new property management company? Has your current company grown lazy and not doing the job required? We are here to help. Rental Choice (.com) was designed to connect property owners with a qualified property management company that knows how to keep your property top-notch. We believe in property management and realize the need for it. You may be a landlord ready to have tenants that will take care of your property and pay their rent on time. Maybe you are a property owner that lives far away from your property. Maybe you just received a promotion at your job and your boss is moving you across country. Let us take the stress off you finding a management company.

Do You Have Perfect Property? Where Are The Perfect Tenants?

Web Master 0 634 Article rating: No rating

Everyone has heard of them, a movie or horror stories, some have even experienced them as neighbors, but the worst of all is when you are the landlord of this frightening tenant. The one that never pays rent on time, always has complaints, and leaves a sloppy mess in your property. There is a solution to such a problem, searching for a good tenant. We are here to encourage you with the fact that good tenants really do exist. But, the hardest thing about getting a good tenant, is finding one.

Effective Ways to Avoid Bad Tenants

Web Master 0 703 Article rating: No rating

Landlords across the country will tell you that they are the best when it comes to singling out a bad tenant no matter how good they try to conceal themselves. However, nearly every property owner is dealing or has dealt with fraudulent and unmanageable tenants who have caused them problems over the years. This is one of the biggest problems that a landlord can face when it comes to property management, since it affects their income and increases their expenses at the same time.


Landlord Knowledge Base

If you’ve ever considered investing in a few rental properties in Philadelphia or Bucks County, PA now might be a good time. Prices are still low in Philadelphia, but have been on the upswing. According to the National Association of Realtors, the median price of an existing home in a US metropolitan area grew 13.7% between July 2012 and July 2013, the latest in a 17-month streak of year-over-year price increases. 

New landlords can choose from properties that are likely to appreciate and a large pool of potential renters.Licensed realtor Pat Mueller cites a few reasons for this trend: “Many families have lost their homes to foreclosure and are entering the rentals market for the first time in years. Mortgages are also harder to get now, so fewer people are qualifying for a new one.”The more skills you bring to the table to get into Houses for Rent in Philadelphia Philadelphia or Bucks County, PA and the more time you have to devote to your properties, the faster you can make a return on your investment. 

But investing in rentals can also be disastrous (or too stressful to be worthwhile) without expertise. Here are three professionals you may consult about your new rental properties, and what you can do to mitigate how much they cost you:Handyman:  You may need to hire a specialist for some work on your rental. If you need new outlets or new pipes, for example, hire an electrician, plumber or licensed contractor. Handymen usually tackle smaller, more manageable tasks, like:

  • Painting and paint removal
  • Drywall repair
  • Minor appliance repairs (fixing a leaky toilet or faucet, among others)
  • Installing tiling or flooring, moldings, windows, doors
  • Refinishing decks, cabinets and other wood items

When You Could Skip It: You could do any (or all) of these projects yourself if you have the time and interest in learning. Of course, this only works if you live relatively close to your rentals and are flexible enough to service them on short notice. And if you’re willing to respond to the occasional 5 AM basement flooding.

Average Savings: Any base rates or costs-per-hour vary from location to location in Philadelphia or Bucks County, PA , but nationally, you can expect to spend an average of $60 to $85 per hour for repair costs. It general costs less to hire an individual handyman than a handyman employed by a company. Expect an additional charge if your job requires a trip to the store for materials.

Resident Property Manager As the owner of a handful of rental properties, you may be able to manage them yourself, but if you want help, a single resident manager would probably be more cost efficient than a property management company. Resident managers may:

  • Serve as a handyman
  • Advertise vacancies in your units
  • Show apartments to prospective tenants
  • Review rental applications
  • Collect rents

When You Could Skip It: Again, the closer you live to your properties and the more spare time you have, the less likely you are to need a manager. The obligations of being a boss will also cut into the time you save on maintenance.

Average Savings: The national median wage for residential managers is just over $25 per hour. Research the wages in your community and adjust according to how much responsibility your manager will take on. 

Real Estate Agent: Once you’ve gotten your financials in order and done your own research on the neighborhood(s) you’re considering, you might contact a realtor to show you potential properties. You can also arrange for a realtor in Philadelphia or Bucks County, PA to show rentals once they’re ready to rent.

When You Could Skip It: It depends. Even if you’re a local, or have thoroughly researched the neighborhood(s) you’re considering, a realtor is a great resource for a first-time rental buyer. Realtors have access to data and statistics not necessarily available to the general public and first-time buyers may not know all the right questions to ask. Using a realtor to fill your Houses for Rent vacancies is less of a no-brainer, depending on your other time commitments or whether you plan to hire a resident manager who could do the same thing.

Average Savings: As a buyer of rental properties, as when buying your own home, sellers typically pay most, if not all, of the buyer’s realtor fees. In this case, Mueller points out there’s little reason not to work with a realtor. For help in filling your units in Philadelphia or Bucks County, PA, the services of a realtor would set you back between 10-20% of the unit’s rent per month.  Mueller recommends interviewing with several brokers before making your final decision to invest into Houses for Rent .

The Bottom Line: As a new landlord, you can’t necessarily control the flexibility of your schedule or the amount (and cost) of unexpected repairs to your properties. Rentals are a long-term investment. However, to maximize profits from your Houses for Rent, new rentals, you can buy close to home and start small. It is best to begin with just one or two properties. This will allow you to maximize the time you spend on your properties’ needs, and minimize the amount you’ll have to pay anyone else.


Terms Of Use Privacy Statement Copyright 2006-2022 by Onyx Management Group, Inc.
oto kiralama ankara göcek yat kiralama