Page 12 of 14. 328 articles in total.
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 →One important part of being a landlord or property owner is dealing with utilities. When lease terms are not clearly spelled out, utility payments, and who’s responsible for what, can become a point of contention between tenants and landlords. Ensuring that tenants are paying the utility bills the
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 →Filling your rental properties with quality tenants is essential to remaining successful as a property owner or landlord. Maybe if you’re really lucky, a great tenant will just walk through your door. But more often than not, it takes work on your end to find tenants who will be a good fit for
Read the article →In part 1 of our series on mistakes to avoid if you’re new to property management, we discussed the importance of operationalizing the sales process and considering ways to add value to your clients. Here are three more important lessons we learned so that you can avoid making these mistakes: Mistak
Read the article →More than 60 percent of U.S. households own at least one pet, and that includes renters who may be looking at one of your Central Ohio properties. As a landlord or property manager, having a clearly defined pet policy in your lease agreement is essential to setting expectations for your tenants as w
Read the article →As with any new challenge in life, mistakes are an inevitable part of navigating the learning curve. Fortunately, there are ways to minimize the amount of mistakes you make by learning from those who have gone before you. As small business owners ourselves, we have definitely made our share of error
Read the article →Investors have a lot on their plates, and a big priority is ensuring that their units are filled quickly and turnover stays low so that a steady stream of income continues to flow in from their investments. In terms of filling vacancies, there are several ways to handle it: do it yourself, outsource
Read the article →Your lease is designed to protect you as a property owner as well as your tenants by thoroughly addressing the rules, policies, and procedures for living in a rental property. Within the lease, you should delineate who is responsible for what, and the terms for each of those responsibilities, includ
Read the article →Before investing in real estate, it’s important to conduct a cash-flow analysis to understand your anticipated income and expenses for a given property. For new investors or new-to-the-area investors, it can sometimes be difficult to accurately predict what that cash flow will be. As a property mana
Read the article →We all know the power of a brand. Think Coca-Cola, Nike, Rolex…they all conjure up certain images in your mind and maintain an intangible grip on us, even if they are products we may not regularly consume. Large Institutional Investors have captured the power of our minds in real estate. Companies l
Read the article →Competition is an important force in our economy, but we all recognize that it’s not always a fair fight. Small business owners going up against big heavy-hitter players in the market simply don’t stand a chance. And that’s when we hear many of them resign and simply say, “Well, if you can’t beat th
Read the article →If you’re looking to buy an investment property in the greater Columbus area, one of the biggest questions you likely have is how much money will the property make? On a monthly basis, what can you expect your cash flow to be? When looking at cash flow, there are two major components to consider.
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