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If your main goal as a landlord is to keep earning a steady income, attracting long-term tenants is a necessity. Vacant rentals can lead to extra maintenance and marketing expenses, so it is critical to have loyal residents in your rental unit. Elevating the value of your rental space is also a breeze when you have a reliable set of renters. You can allocate a budget for renovations which leads to more satisfied tenants and consistent investment returns. Here are 5 great tips to draw more constant and reliable renters: 1. Persist With Mar…

Wether you hire a property management company or are a DIY landlord, keeping your tenants happy goes a long way. Building a good landlord-tenant relationship will help you retain your tenants for longer, which will ensure your rental property remains profitable in the long run. One of the best ways to keep your tenants happy is to resolve their complaints promptly. Some common tenant complaints we will cover in this article include maintenance and repairs issues, noise complaints, and parking issues. Timely resolution of these problems will sh…

While being a DIY landlord is a great step towards achieving financial independence, it has its own set of challenges. Knowing the common mistakes new landlords make will help you avoid costly errors and property vacancies . If you are paying a monthly mortgage, avoiding mistakes is crucial to keeping your rental income steady. As a self-managing landlord, you may face challenges while you develop strong property management skills. Common DIY Landlord Mistakes Here's a list of common errors DIY landlords make and how to avoid them: 1. Skippi…

With a potential for long-term appreciation and a consistent flow of passive income, investing in rental properties may be quite profitable. But not every rental property is made equal, and picking the correct one can have a big impact on your ability to succeed financially. In this article, Legacy Realty and Management, a reputable real estate company, shares valuable insights on how to identify profitable rental properties for smart investments. 1. Research the Local Rental Market Trends Conducting thorough research on the local rental marke…

When investing in real estate, property investors must take the time to learn about the right metrics. Allowing you to choose the best real estate property for the highest returns. You need to monitor key performance indicators (KPIs) and evaluate real estate data to know more about how the property performs, what the market trends are, and the possible downsides to the property you are interested in. Below are some of the common real estate metrics property investors need to learn: 1. Real Estate Return on Investment (ROI) You often hear abou…