Avoid Verbal Lease Agreements A lease agreement provides important legal protections for both landlords and tenants. While verbal lease agreements can be legally binding, they’re not recommended because of the lack of documentation. In the event of an eventual dispute, a verbal lease agreement may…
Holdover Tenants Defined Holdover tenants are renters who do not renew their lease and do not move out when their lease expires but continue to pay their rent. If a landlord accepts rent payments after the expiration of a tenant’s lease, the tenant remains a…
Active vs. Passive Income First, let’s be clear on the difference between active and passive income according to the Internal Revenue Service. This is an important concept for landlords, who are responsible for documenting and reporting all of their rental income.
What Is Squatting? In South Carolina, as in most states, squatting is defined as living in an abandoned or unoccupied property without the permission of the property owner. Many conflate the terms “squatting” and “trespassing,” but they are not the same thing.
What Is Prorated Rent? First, let’s be clear on what it means to prorate rent. Prorated rent is the rent charged for less than a full month of occupancy by a tenant. This is appropriate when tenants move in on a day other than the…
According to the National Association of Realtors, in 2020 more than half of all landlords (about 58%) chose to work with a property management company rather than manage their rental properties entirely on their own. There are several key reasons for using the services of…
It’s common for investors who own rental properties to hire someone to manage the investment for them on a day-to-day basis. Property managers perform many of the tasks that investors simply don’t have the time or the inclination to do. By managing the day-to-day operations…
Knowing what is considered emergency maintenance in an apartment, residence or multifamily property is important, but how can you tell? Well, pretty much the same things that would be considered maintenance emergencies in any home: fire, gas leak, carbon monoxide, flooding, and other situations that…
Landlord’s Insurance vs. Homeowner’s Insurance Those who are new to investing in multifamily real estate may equate the insurance they need as landlords with the typical homeowner’s policy, but they are very different animals. Landlords need to protect not only property but also their rental…
What Are Single-Family Build-to-Rent Communities? The single-family build-to-rent (SFBTR) concept is relatively new, originating in the 1980s. It gained traction after the 2008 Great Recession and again now in the Covid-19 era with so many migrating out of the nation’s cities to find space and…
