278 articles on owner education, written by the team that manages 700+ rental units across the Columbus metro. Page 10 of 12.
Investing in rental properties can be a good way to earn passive income (though “passive” is certainly a relative term). What gets in the way of any given unit’s earning potential, however, are the inevitable expenses that come with property maintenance and repairs. From the routine upkeep to the mo
Read the article →We’ll be the first to admit that as a business and as individual employees of the company we’re always learning. Certain mistakes, while we’d rather not make them, give us moments of pause and create opportunities for us to continually refine our processes so we are best able to deliver great serv
Read the article →Property owners’ responsibilities are multifold, but an essential one is keeping the rental units they own and manage fully habitable for their residents. When tenants are happy because they live in a great unit, they’re more likely to take good care of the space and renew their lease. In turn, thes
Read the article →In Part 1 on the economics of owning and managing small multifamily units, we discussed the advantages and disadvantages of adding multifamily properties to your investment portfolio. On the whole, we believe this type of rental property generally adds value in terms of ROI and is a smart choice, pr
Read the article →Most people pursue real estate investment opportunities because of the economic returns they can bring, not because they enjoy receiving middle-of-the-night tenant calls. But whether you own one property or 100, you know that each unit’s ROI potential can be impacted by a host of factors, including
Read the article →If there’s one basic rule for marketing and advertising, it’s “go where your people are.” Your people (a.k.a prospective tenants or real estate investors)? Yep, they’re on social media. Whether your goal is to invest in more rental properties or to fill your existing units with high-quality tenants,
Read the article →Small business owners live and breathe what they do. It takes effort and passion to go from “just an idea” into something that has legs all its own, but what about once your business is up and running? How do you pull back on some of the reins, so you’re not constantly stuck with your
Read the article →A property manager is responsible to both you as the property owner, as well as to your tenants. Broadly speaking, property managers are responsible for taking care of the physical rental property itself as well as any of the residents’ needs. More specifically, these responsibilities fall under thr
Read the article →Every day your rental unit sits empty is another day you aren’t generating revenue from it. To reduce this amount of time, you want to be turning over your rental units as quickly and seamlessly as possible between tenants. Create your Turnover Checklist Unit turnover is part art, part science (alth
Read the article →As a business, we’re always learning new ways to refine our processes to best accommodate our clients and their needs, but we’ll admit that working in property management can be a humbling experience, especially during periods of growth. Truth be told, we’ve made our share of mistakes during our com
Read the article →Most people hire a property management company because they don’t have the time, expertise or interest in managing the myriad aspects that come with being a rental property owner. One such aspect that most property owners are more than happy to outsource? Dealing with tenant complaints. Before jumpi
Read the article →When property owners hear the term “property management,” they conjure up a variety of definitions, most of which are not accurate. The challenge is that without a standardized scope of services provided by property managers, it’s easy for confusion and frustration to take hold, because most client
Read the article →Like any financial decision, an investment in real estate has to be strategic. You need to understand its potential as a revenue stream and what opportunities it offers for growth in a given market. With each strategic investment, your real estate portfolio will grow, and at a certain juncture, so t
Read the article →While mistakes are an inevitable part of life, no business owner likes to admit to making them. But, in the spirit of transparency and sharing what we’ve learned, we’re going to do something a little differently in this post than what we usually do on our blog. We’re going to discuss a recent mistak
Read the article →Securing good tenants is one of the most important components of being a property owner and real estate investor, and it’s something we spend a lot of time thinking about here at RL Property Management. Throughout our years as a property management company based in Franklin County, we’ve studied the
Read the article →Self-managing rental properties can consume a lot of time, energy and resources. Regardless if you’re choosing to expand your rental portfolio or maintain the same level of services you currently provide, keeping up with the responsibilities of property ownership, in addition to your full-time job a
Read the article →It’s the classic nightmare scenario. Your phone starts ringing in the middle of the night or on a long holiday weekend. Before you even tap accept on the phone, you can feel the frantic energy coming from the resident on the other end. So, what to do? If a tenant calls you in a
Read the article →Handling maintenance and repairs can be one of the most time-consuming parts of property ownership. Not only is there the actual work of fixing the unit itself, there is also the logistics of contracting the maintenance person and coordinating schedules with the resident and other affected individua
Read the article →In our previous blog post, we discussed some of the dissonance landlords face when it comes to selecting good, qualified tenants while also remaining in compliance with Fair Housing legislation. In this post, we further discuss legislation surrounding source of income as a protected class and steps
Read the article →Property owners take on a lot of risk when opening their units to tenants, and one way to protect themselves from potential headaches or damage down the road is to put certain restrictions in place via the lease agreement. If you find yourself considering potential restrictions to your lease, you ar
Read the article →KPI is an acronym that gets tossed around a lot in the business world, but what exactly does it mean and how can you meaningfully use it to help grow your small business? KPI, or key performance indicator, is a metric used to measure a company’s overall performance against a certain set of
Read the article →There are several ways to grow a business. One impactful way to quickly grow and sometimes even double your book of business is to acquire another company, but as a small business owner, it can be daunting to think through how you will actually pull off the deal. Sometimes, even when you make the sm
Read the article →Filling units with reliable tenants is important for many reasons. It may cut down on turnover and reduce your overall vacancies, it may limit the amount of issues you have to deal with related to a tenant’s ability (or inability) to pay, and it may mean having residents who are more likely to
Read the article →The goal of an investment property is for it generate revenue for you through rental income, but we can’t talk about rental properties and investment opportunities without also talking about vacancies. Vacancies between tenants or during a major renovation project means you could be going through we
Read the article →A free, data-backed rent evaluation using our own portfolio numbers and current market comps.
