Setting the asking price fro your investment rental is a important step to maximizing the return on your investment. The right rent attracts the right tenants and helps you to pre-screen your offering. At Northwest Atlanta Property Management, we seek to set the rental rate in such a way that maximizes both interest and profitability. Here are some of the methods that we employ. 1. HUD Website – Fair Market Rents The annual report released by the U.S. Department of Housing and Urban … [Read more...]
Allowing Late Rent – You Are Not Doing The Tenants A Favor!
Start any new rental term by strictly enforcing your rent payment policies. It is essential to develop the right habits with residents. I notice that every now and then whenever I get new residents, they are the very ones who are most likely to “test” to see if I am really going to enforce my due date and late fees. Even though our policies are clearly and fully discussed at the lease signing, move-in inspection and in our Tenant Handbook the resident “testing the limits” within the first two … [Read more...]
Credit Checks And Background Checks
Tips for Successful Resident Screening Most landlords, even some ‘pros,’ are still practicing the old way of doing things— they take a social security number, make one phone call, and rent to the person. Then they wonder where the problems are coming from. Well, the old methods don’t work anymore. Quit relying on character judgment. For managing rental property, it does not work. Have a set application process, written down. Applicants must meet all the criteria. If they do, rent to them. … [Read more...]
