As professional property managers, we know that many landlords and investors manage properties on their own with varying levels of success and failure.  Often, many investors will call property managers after experiencing certain pain points like a backed up septic system or undesirable tenants.  Unfortunately, it is easy for these kinds of pain points to cost landlords a lot more that it would to hire a...

Keep screening fees reasonable It is critical to screen every tenant for evictions, criminal background, and credit scores.  These things will require small fees and that is expected in the industry.  Tenants will not be surprised they have to pay a fee.  Indeed, they are typically happy to do so if they like the unit and want to move in.  However, creating additional income through screening...

6 Portland, Maine suburbs for property investors - Introduction With sales inventory at record lows in Maine and so much scarcity in the market, many people are choosing to rent a property for a while, so they have time to shop for homes.  There are some interesting factors at play in Maine when it comes to the 2020 and 2021 real estate market, and property managers have some unique opportunities. ...

Prepare your rental property for the winter season to ensure the safety of your tenants and protection of your asset.  Winters are especially tough in New England; taking a little extra time this fall to address these items will save you headaches and money once winter sets in.   Inspect the exterior of your building to ensure there are no cracks in wood, bricks, or other finishes- seal and...

Today is March 9, 2020, and as I write this, the US Stock Market is forecast to open significantly down. Investing in the stock market has always been volatile, and on any given day, the value of your portfolio can vary significantly. The market is down for two main reasons (1) Russia and Saudi Arabia have decided they won’t play nice when it comes to reducing oil production – important for...

Check out this great article on using real estate investments to plan and pay for college.  https://www.coachcarson.com/save-for-college-real-estate-investing/     With relatively little initial financial investment, real estate can quickly and predictably grow to meet the needs for larger expenses later in life, whether that be retirement or paying for child’s education.  Honest Property...

There are always at least one or two residents who seem to struggle each month to get their rental payments in on time.  Late payments can create extra work for management and delay payouts for owners.  Keeping on top of receivables is a key function for any good manager.  The first step to keeping receivables is to have a clear and concise written rent collection policy, and to share this policy with...

Maybe you are an owner in a larger market, where finding applicants with good credit scores is not an issue; if you are that’s great and likely makes filling your units a bit easier.  In smaller markets however, finding applicants with good scores can be a bit challenging, for that reason it’s often necessary to dig into the applicant’s credit report(s).  A lower score should not always be reason...

So, you have a great new building in your portfolio, whether its market, mixed income or 100% affordable housing, your lease up and how it’s handled is vital to the asset’s overall performance.  How hard can it be, you have available units and people want to rent them, fill the building right?  Not so fast, there are several factors to consider as you set out to lease your vacant...

When it comes to finding a great property management company, there are significant differences between best-of-breed and those that are barely keeping their doors open. As an investor, you need to ensure that the firm you hire will take care of your property, maintain its value, deliver a solid financial return, and minimize your risk. Interview, Interview, Interview – Selecting a property management...