172 articles on property management education, written by the team that manages 700+ rental units across the Columbus metro. Page 4 of 8.
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 →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 →Repairs and maintenance make up the largest category of any property owner’s budget. There’s just no getting around it, it takes money to maintain and operate a rental unit. While some of these costs and responsibilities can be handed off to your tenants (if you spell them out in your lease), you a
Read the article →The tenant-landlord relationship is adversarial in its design. The landlord is the person collecting rent, they have control over the residence, and in terms of winning over praise, there’s basically no hope, at least categorically. This inherent power imbalance can lend itself to conflict, or if n
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 →RL Property Management has been serving owners and residents throughout the greater Columbus area for a decade. Read on to learn more about Peter Lohmann’s start as a property investor and gain insight into how to grow your real estate investment portfolio. How did you get started investing in real
Read the article →The IRS has a label to classify everyone and one you don’t want next to your name as a property investor is: ”dealer.” The biggest reason for this is that it can result in you owing double FICA taxes, a total of 15.3% in addition to your federal, state, and local income taxes. If
Read the article →There are several strategies to minimize your tax bill as a property investor. From maximizing tax deductions to accounting for depreciation, utilizing a 1031 exchange and many others, you can generate wealth and grow your portfolio by taking advantage of tax incentives and opportunities. Another su
Read the article →When it comes to building wealth through real estate, many investors focus on rental income and property appreciation as key components to driving growth, but there’s another powerful tool that allows you to pocket more money: depreciation. Depreciation isn’t just an accounting term. It’s a valuable
Read the article →Investing in real estate can provide significant financial opportunities for individuals and build generational wealth for families for years to come. And like many pursuits, there is more than one way to achieve success. However, following time-tested, risk-tolerant strategies can significantly alt
Read the article →Investing in real estate property is a time-tested way to build wealth. Even better? It also offers owners an opportunity to keep more money in their pockets come tax time. As you consider your unique situation, assess whether leveraging any of these tax strategies might be right for you, and when d
Read the article →Every property owner will have their own opinion about what makes an investment successful, but collectively, their responses will account for how well the property’s fixed costs and unexpected expenses are managed. These two areas have a big impact on an investor’s ability to deliver a positive cas
Read the article →Property investment success takes time. When you choose to pursue real estate as a means of generating wealth, you know you have to take the long view. And this mindset becomes especially important as you establish a philosophy toward managing unexpected expenses. As discussed in our previous blog,
Read the article →Building a successful real estate portfolio is a process. It takes work and requires you to be strategic with every financial decision you make. As you begin establishing a process to build your portfolio, it’s essential to pay attention to these three key areas: Managing your fixed costs Managing u
Read the article →Charging accurate market rent for your rental properties in Columbus is important to your investment success for a few key reasons: It helps you attract good quality tenants It helps keep turnover rates low It’s an important factor in improving NOI Often newbie property owners make the mistake of ov
Read the article →Net operating income is rent and other income minus operating expenses, before the mortgage. On a Columbus single-family rental, five levers move it: rent priced to market, fewer vacant days, utilities assigned in the lease, preventive maintenance, and an expense audit.
Read the article →Owning an investment property in Columbus is a net-positive experience the vast majority of time, yet there are issues owners (or their property management company) will have to deal with from time to time. One such potential issue is evictions. No one wants to have to post an eviction notice on a r
Read the article →Investing in real estate has always been a reliable way to generate wealth. As Andrew Carnegie is known to say, “Ninety percent of all millionaires become so through owning real estate.” Yet like any investment, there is risk and uncertainty. One can never know for sure what kind of return they will
Read the article →A vacant day on the portfolio average rent of $1,653 costs about $54, and the unit still runs every expense. Six things cut vacant days in Columbus: rent set to recent signed leases, screening, a pet policy, sane fees, lease terms that dodge the slow season, and fast maintenance.
Read the article →As a category, real estate is still a predominantly male-driven area; however, there is data to suggest a growing presence of women as real estate investors. Continued efforts to provide equal opportunities, education and support for women investors can contribute to a more diverse and inclusive rea
Read the article →Determining market rents in Franklin County shouldn’t be a puzzle, but for many people, it feels like they’re on the hunt for an elusive piece they need to create the perfect picture. And because they fear they might be missing something the entire process becomes more overwhelming than it needs to
Read the article →Predicting cash flow on a rental property requires you to make certain assumptions about income and expenses. Whereas predicting income can be more straightforward, understanding expenses can feel rather ambiguous. We often get asked if there is a good rule of thumb for predicting operating costs on
Read the article →Navigating insurance options is always tricky no matter the type of insurance. For property investors, wading through the numerous insurance coverage offerings and policies can feel especially overwhelming, but it’s imperative to protect yourself against property losses, claims from a tenant, or pot
Read the article →You might feel tempted to pull out all the stops when trying to fill a vacant rental property. Don’t. Even if it takes a little longer to find a good applicant, it’s worth the extra time you may need to seek out a high-quality tenants. That said, it doesn’t necessarily mean you can’t offer incentive
Read the article →A free, data-backed rent evaluation using our own portfolio numbers and current market comps.
