James's Blog

While no set rule exists on tenants painting their own units, the issue should be addressed in your lease agreement.  If a unit requires painting due to normal wear and tear, it is always the landlord's responsibility to paint.  Chipped or peeling paint must be corrected, as problems with the qua...

The smart and successful landlord will have two cash reserve accounts set up, a Repair Reserve and a Vacancy Reserve. A Repair Reserve is a savings account set aside specifically for major repairs or property improvements that may come up during the course of a year,.  There is no set amount or s...

If you are considering purchasing an income property and becoming a landlord, you might be wondering what kind of financing is best for you to secure.  In short, the best possible deal is the best financing for you to seek out.  In general, landlords prefer to get a loan with the best rate, for t...

The annual celebration of Earth day is always cause for heightened energy awareness, yet our energy and resource usage is something we need to be mindful of every day of the year.  With a few simple changes to our daily routines, we can save money, help conserve, and even hopefully repair, the st...

There are many federal laws landlords must be aware of and follow carefully.  Most widely encompassing, and most important in legal and ethical terms, is the federal law that prohibits discrimination in the housing and rental markets.  The Federal Fair Housing Act of 1968 and the Civil Rights Act...

LTV is the acronym for Loan-To-Value ratio.  It is a term used in real estate financing that refers to the ratio between the loan on a property and it's total value.  For instance, if someone has a $500,000 loan on a million dollar property, that is a 50% Loan-To-Value ratio. Realtors and lenders...

The simple answer to this question is a resounding NO.  Keep the timeliness of rental payments professional and not personal.  If you abide by simple, basic rules that you set from the beginning of the lease agreement this will save you many a headache down the road. Your lease agreement should h...

As a landlord, you are not required to provide any appliances, though most landlords do and for good reason.  For one, providing appliances makes your rental property more appealing.  If your prospective tenants do not have to provide their own refrigerator, oven and range, or washer and dryer yo...

No one likes to pay more for what they're already getting.  Yet rental increases are expected and often necessary to cover the increased cost of goods and services required to maintain your property.  If you are about to renew a tenant's lease agreement and are looking to raise the rent, you may ...

When, and how often is a landlord permitted to raise the rent? Most lease agreements are a one-year agreement, during which time the rent cannot be raised.  Some lease agreements automatically convert to a month-to-month agreement after the first year is up, at which time a landlord does have the...