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Your investment property relies on a steady stream of monthly income in order to meet your own financial obligations as well as generate revenue, but one thing a lot of people may not think about when it comes to receiving rent and other payments from their residents is the order in which those paym
Read the article →Owing a rental property is a smart way to earn passive income, but “passive” is a relative term. There can be a large variation in how hands-on (or off) the job is, especially when you go it alone and self-manage the rental property. And, as we all know, the hands-on part doesn’t always
Read the article →It happened. Your tenant punched a hole in the wall and now they’ve come to you with their head hanging low and wondering who needs to fix it. While this scenario may not be that common, it does raise a question that those of us in property management and real estate investing face quite
Read the article →For every unit you manage, you’re going to have unexpected expenses from time-to-time. It may be a water heater that goes out, a furnace that dies in the middle of winter, a roof or window that needs to be replaced, and a whole host of other expenses that you may not always anticipate. These
Read the article →As a property owner or a landlord in Columbus, you sometimes encounter a prospective resident who is chomping at the bit and ready to move in right away. They may already be expressing enthusiasm before you even start showing the unit and even say things like they have the security deposit and are r
Read the article →When it comes to your lease agreement, there are a few really important considerations you should have as a landlord. One that often gets overlooked is who actually owns what in the apartment or rental home, and is that clearly delineated in the lease? Having a strong lease agreement, one that clea
Read the article →Whenever we are confronted with a new situation, we like to approach it with first principles reasoning. If you have not encountered it before, it’s a simple enough concept: a first principle is a basic assumption that cannot be deduced from any other assumption, in other words, boiling things down
Read the article →To be fully transparent, you might not need to hire a property management company. If you enjoy the problem solving, have time to handle after-hours emergencies, and aren’t frustrated by navigating the byzantine processes put in place by local governments, you are more than capable of managing your
Read the article →ABOUT THIS EPISODE Episode 4 of the Owner Occupied podcast with Peter Lohmann and Russell Lowery. In this episode we discuss Peter’s top 5 early mistakes when starting and growing the property management company in the early days: Show Notes: 00:00 Intro 02:03 Mistake 1: Not Systematizing Sales 06:0
Read the article →ABOUT THIS EPISODE Episode 3 of the Owner Occupied podcast with Peter Lohmann and Russell Lowery. Show Notes: 00:00 Welcome & intro 00:52 History of zillow & rental listings 03:46 Zillow’s rental manager platform 05:50 Is Zillow competing with property managers? 07:20 How airbnb could enter the rent
Read the article →ABOUT THIS EPISODE In this week’s episode, we discuss the challenges of establishing and running a property management business, the number of properties you need to hire a property manager, the strategies for finding new properties to manage, and how to finance new acquisitions. We also discuss the
Read the article →Why Choosing the Right Property Manager Matters Columbus isn’t just growing, it’s evolving. With a competitive rental market, rising tenant expectations, and new regulations emerging each year, real estate investors in Central Ohio are under more pressure than ever to perform. Whether you own one ren
Read the article →We are excited to announce Owner Occupied, a new podcast hosted by Peter Lohmann, the co-founder of RL Property Management. On Owner Occupied, hosts Peter Lohmann and Russell Lowery discuss small business, property management, entrepreneurship, and general real estate topics. Episode 1 is below. You
Read the article →At RL Property Management, we maintain a database of several dozen fields of data for each unit that we manage throughout Columbus and Franklin County Ohio. Three of those data fields include the square feet of the unit, the market rent of the unit and the zip code. The following is the average mark
Read the article →Lease violations often occur for issues other than non payment of rent. How are these handled?
Read the article →RL Property Management Group Grows Rental Unit Business 45% with Acquisition of Core Select Group’s Property Management Division Acquisition vaults RL Property Management Group into the top 5 of similar companies within Central Ohio COLUMBUS, OHIO, April 14, 2020, RL Property Management Group, a fu
Read the article →A top worry of most landlords is a middle of the night call from a resident stating that there is a maintenance emergency. The following post will look back at data from all of RL Property Management’s 2019 after-hours maintenance calls. This data is from our Columbus, Ohio office location. Temperat
Read the article →At RL Property Management, we maintain a database of several dozen fields of data for each unit that we manage throughout Columbus and Franklin County. Three of those fields include the square footage of the unit, the market rent of the unit and the zip code. The following is the average market rent
Read the article →We recently conducted an cost analysis examining spending in the year of 2019 across our entire portfolio of managed multifamily (2+ unit) properties. Out of the 300+ units under our management around Columbus Ohio, this study includes just the multifamily properties (37 properties consisting of 137
Read the article →Many new and aspiring real estate investors are drawn to lower-rent properties. There are a number of factors that can make low-rent (sometimes referred to as “Class C/D”) properties seem attractive: Lower purchase price Higher cap rates (advertised) Higher cash-on-cash return (predicted) More inven
Read the article →Regular property inspections are one of the most essential practices in professional property management. They help safeguard your investment, maintain tenant satisfaction, and prevent small issues from turning into costly problems. At RL Property Management, we perform thorough inspections four tim
Read the article →We help real estate investors unlock free time and peace of mind by correctly managing their property, transforming their investment into true passive income. What this means in practice: We manage properties for the long term. Our decisions are made assuming the current owner will be holding onto t
Read the article →As a property owner, one of the concerns that you face is handing over the responsibility to your property manager to find a tenant that you will never meet. At RL, our leasing department has a fine-tuned process to finding a qualified tenant for your property. Advertising Our screening process begi
Read the article →Passive income. That’s the dream from the beginning, Robert Kiyosaki’s Rich Dad, Poor Dad, Tim Ferris’ The 4-Hour Work Week, what we all learned from these books was to let the asset do the work for you! You make money while you sleep, right?
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