278 articles on owner education, written by the team that manages 700+ rental units across the Columbus metro. Page 6 of 12.
You already know that first impressions matter, but did you know that they matter enough to influence lease renewal? While surprising to some, studies suggest that most residents have already made up their minds about renewal within the first few weeks of moving into a property. So, what does that m
Read the article →Guess what? You don’t have to commit to a 12-month lease agreement. The length of your lease can be whatever you want it to be, and while 12 months is typically a standard length, there are good reasons why you may not always want yours to be. Modifying Your Lease Length Can Be Good for
Read the article →First-time property investors often ask if there is a rule of thumb for calculating maintenance costs. While it would certainly be easier from a budget planning perspective to apply a blanket rule when deciding how much to set aside in reserves, an approach like this is far less accurate. To be succ
Read the article →Maintenance is a reality for any property owner. Whether it’s routine upkeep to ensure property values continue to rise or a middle-of-the-night emergency, someone needs to give ongoing attention to the places we and our tenants reside. For landlords and property managers, this of course extends to
Read the article →A well-drafted lease agreement protects your interests as a landlord as well as your tenants’. If it’s been some time since you’ve reviewed your lease agreement or if you’re drafting one for the first time, read on for some important clauses to include. 5 Essential Terms to Include in Your Rental Le
Read the article →Depreciation in real estate is a tax strategy that, when used effectively, can help you be even more successful with your investment. Here are some key things to know about building wealth with depreciation. Depreciation as Defined by the IRS Depreciation is an accounting term in which the IRS allow
Read the article →If you own rental property, you are a landlord. Whether or not you manage the property yourself, you still own the space and any final decisions regarding the property will always be yours. As you pursue a path in real estate investing, it’s imperative to consider your willingness to become a landlo
Read the article →Personal Finance 101 tells us to always save for a rainy day, but as property investors, it’s more like we need to save for rainy months. An emergency fund, also referred to as a reserves account, helps shield you from financial disaster when other types of unexpected disasters strike. And strike th
Read the article →All real estate investors have goals for their properties, but not everyone has taken the time to develop an overarching philosophy when it comes to their approach to investing, but they should. A clear investment philosophy is like having a roadmap to guide your decisions, shape your strategies, an
Read the article →Getting a property ready to rent for the first time or turning over a unit between tenants should be done with speed and efficiency. The faster you do it, the more rental income you can earn and the lower your overall vacancy rate will be. The more experience you get turning over a rental unit,
Read the article →The services property management companies provide will vary from business to business, but there are a few general services you should expect regardless of which company you engage. Those include leasing, rent collection and maintenance. Many investors who choose to partner with a PM company do so
Read the article →Real estate is among the strongest-performing asset classes for investors, and its performance generally only goes up the longer you hold on to the property. That means even if you do nothing (other than maintain the property), its value will increase and you will generate monthly rental income so l
Read the article →Establishing a diversified portfolio can help set a strong foundation for financial success for years to come. Taking steps now to grow your real estate portfolio is an effective way to build multi-generational wealth for you and your family, but there’s never a guarantee of success. When attempting
Read the article →Investing in rental property can be a lucrative asset class, which is why it’s all the more important to have adequate insurance coverage in place to protect yourself and your investment from potential losses, claims from a tenant, or even a potential lawsuit. Here are a few things to keep in mind a
Read the article →Cash flow is rent collected, minus a vacancy allowance, minus operating expenses, minus principal and interest. Most owners get it wrong in three places: the rent comp, the property tax reset after purchase, and the reserve they never funded. Here is the Columbus version, line by line.
Read the article →One of the biggest responsibilities property owners and property managers face is maintenance. Not only is it a big responsibility because, well, no heat in January can send your tenants into a fury, but effective maintenance management also contributes significantly to the overall profitability of
Read the article →When you choose to invest in real estate, you’re doing so because of the growth opportunities, not because you’re looking for more work or like being awoken in the middle of the night by a tenant emergency. No, you’re looking to turn a profit. While there are many types of properties in Franklin Cou
Read the article →Assessing a property’s investment potential requires detailed calculations, but wouldn’t it be nice if there was a quick way to weed out properties that simply won’t make the final cut? This is where the 1% rule becomes useful, and it’s a formula that those looking to branch into real estate investi
Read the article →Part of what makes investing in real estate so intriguing for newbie investors (and seasoned veterans alike) is its dynamic nature. Property values are not stagnant, and in the case of multi-family rental properties, owners have the power to exert direct control over improving their property’s valua
Read the article →Owning a rental property in Columbus, Ohio, can be a lucrative way to earn passive income and diversify your portfolio, but it’s not without its challenges and commitment. Self-managing rental properties requires owners to be quite hands-on at times (for example, who’s going to field that 4a.m. main
Read the article →Being a successful real estate investor and property owner hinges largely on your ability to successfully lease your units. But spoiler alert: simply keeping your units occupied is not enough. You must keep them occupied with high-quality tenants if you want to truly reap the rewards of being a prop
Read the article →Owning an investment property is not all sunshine and roses. Furnaces go out, appliances break, emergencies happen. All these things cost money to fix. Sometimes lots of money. To prepare yourself for these one-off capital expenditures, it’s imperative to have a reserve fund set aside. Your reserves
Read the article →Real estate investors looking to grow their portfolios often turn to a property management company to relieve much of the day-to-day burden of taking care of the rental property and making sure it is occupied by good-quality tenants. As owners go online to search for a PM company to hire, they likel
Read the article →In this two-part series, we’re hearing from Peter Lohmann, Co-founder and CEO of RL Property Management, as he discusses his start in real estate investing and how that first investment has led to exponential growth and the founding of his company. Investing in your first property taught you a lot a
Read the article →A free, data-backed rent evaluation using our own portfolio numbers and current market comps.
