According to a new survey conducted by real estate giant Zillow®, landlords now are nearly twice as likely to offer rent concessions to new applicants as they were earlier this year. In February, some form of concession was offered by 16% of landlords, while in July...
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Rental Property Management Tips
Smart Landlord Strategies for 2021
It appears landlords and tenants will continue to be impacted by the COVID-19 pandemic for several more months. As the end of the year approaches, it's important to consider strategies needed to adapt to today's challenges: Tenant Screening in the Age of COVID-19...
TOPA Laws Move Forward Despite Shortcomings
Landlords in Massachusetts are lobbying their state legislature to reject a proposal that would require rental property owners there to offer a first right of refusal to purchase any properties brought to market. Referred to as TOPA laws, the acronym first was...
Will Your Next Tenant Pay Rent?
Emergency orders surrounding the pandemic have forced landlords to accept repayment plans allowing tenants to defer rent payments over time. Some provinces have extended that time frame well into 2021. Where does that leave the landlord when the tenant decides to move...
Provinces Announce Rent Increase Limits for 2021
British Columbia The annual allowable rent increase for 2021 in British Columbia has been set at 1.4%. This figure is less than half of what landlords could have expected in previous years, according to a statement by the Province's Ministry of Municipal Affairs and...
What Landlords Need to Do to Prevent Property Damage
Property damage is an out-of-pocket loss for landlords, regardless of whether that damage was intentional, an innocent mistake, or the result of a neglected repair. So, cover all bases by taking these steps: Avoid Problem Tenants Some property damage is done...
Toronto Opens Registration for Short-Term Rentals
The City of Toronto announced that it is now accepting registrations to permit short-term rentals. The process has been on hold while lawmakers were dealing with the pandemic. Registration began September 10. Any person who currently is offering short-term rentals or...
Tenant Fees: How Much Is Too Much?
Some landlords view tenant fees as a viable profit center, and the temptation to make up losses from the pandemic may lead them to consider changing their fee structures. It may seem like the sky is the limit when it comes to tenant fees but charging excessive fees...
10 Tips for Handling Security Deposit Deductions
Security deposits are an important tool when it comes to quickly restoring a rental unit for the next tenant. But if security deposits aren't handled correctly, they also can cause income loss. Watch out for these security deposit pitfalls: 1. Don't assume the...
Landlords Sued for Refusing to Move Rent Due Date
The owners and property manager of an apartment building in Georgia are facing charges by HUD after a dispute with a tenant over the rent due date. The tenant received income from disability benefits and received those payments the second Wednesday of every month. For...