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 security deposit will cover all the damage from a bad tenant. With state and local limitations on deposits -- typically capped at one-half to one month's rent, the deposit won't go far. Instead, focus on tenant screening to weed out the...
Landlords Sued for Refusing to Move Rent Due Date
The owners and property manager of an apartment building in Georgia are facing...
Rent Payments Wane as Stimulus Talks Stall
Ninety percent of renters made full or partial rent payments as of August...
Worst Tenants Ever
An Ottawa landlord has been trying to evict his nightmare tenants for months....
Tribunal Confirms Landlord’s Right to Inspect Rental Property
A decision by the British Columbia Residential Tenancy Branch confirms that landlords there have an "absolute" right to inspect their rental properties as often as once per month. The decision comes at the one year anniversary of the RCMP's Marihuana Grow Initiative,...
How to Evaluate a Tenant’s Credit
No matter how honest a new rental applicant may appear, a landlord must maintain a standard practice of running a credit report. That credit information provides the baseline that governs the terms of the tenancy. Without it, a landlord cannot avoid habitually bad...
How Tenants Turn a Lease Into a Revolving Line of Credit
One of the most frustrating problems for a landlord is the tenant who habitually pays rent late. Unfortunately, the lease agreement or management policies can contribute to this issue. Once a tenant catches on to the game, they may repeat it month after month, causing...
Top “Bed Bug” City Proposes New Rental Ordinance
Apparently, Chicago lawmakers don't like their city's dubious new honor of being ranked the number one city for bed bugs. Last month, pest control company Orkin published its list of the top 50 cities for bedbugs, based on the number of properties treated by the...
Landlord to Pay $9,000 Over Leasing Mistake
Prosecutors with HUD announced this week that a New Hampshire landlord will pay $9,000 to settle allegations that he refused to rent to families with children in violation of the Fair Housing Act. "The days of 'no children allowed' are long over," said John Trasviña,...
How One Tenant Scammed 6 Landlords
A half-dozen landlords in British Columbia are out rent payments to a professional tenant who appears to have lived virtually rent-free for over three years. He accomplished the task by scamming each of the landlords with fake information -- name, employment...
What Landlords Need to Know Before Hiring a Property Manager
Many landlords successfully manage their own properties with little downside. There are circumstances, though, where hiring a property manager may be in the owner’s best interest. For instance, a landlord may: Live a significant distance from the rental property,...
Rental Board Condones Bad Tenant Database
A recent news story profiled the "bad tenant" registry maintained by the Saskatchewan Rental Housing Industry Association -- an online database shared by member landlords. Saskatchewan's Office of Residential Tenancies told reporters that they are aware of the list --...
New Option Allows Automatic Renewal of Kijiji Ads
Landlords and Property Managers can say goodbye to daily manual postings of rental ads. Kijiji, Canada's most popular online classifieds website, and Toronto-based RentSeeker.ca, Canada's leading Internet listing service, announced they have partnered to offer joint...
Rejecting Applicant Proves Costly for Landlord
A landlord in Ann Arbor, Michigan is now facing a lawsuit after rejecting an applicant who she said had too large a family for her rental property. The applicant has filed a federal lawsuit against the owner, stating that she was denied the rental of a two-bedroom...
What Landlords Need to Know Before Hiring a Property Manager
Many landlords successfully manage their own properties with little downside. There are circumstances, though, where hiring a property manager may be in the owner's best interest. For instance, a landlord may: Live a significant distance from the rental property,...
Lawmakers Say Landlords Must Pay for Problem Tenants
Three cities recently have adopted rental "nuisance" ordinances -- laws that hold landlords liable for the activities of their tenants. Last week, Bangor, Maine lawmakers passed a nuisance ordinance, which they say will help cut crime in the city. Under the new...
The Top Cities for Bed Bugs
Pest control leader Orkin has rated the top 50 "bed bug" cities for 2012. Last year, Rollins, which operates eight pest control brands nationwide including Orkin, saw a nearly 33 percent increase in bed bug business compared to 2011. Cities across the country were...
The Right Way to Reject a Rental Applicant
by Marv Steier Landlords often have questions about non-discriminatory ways to reject an applicant who is not an appropriate tenant. It's a fine line that landlords walk when interviewing an applicant or writing a rental ad to ensure it doesn’t appear to be...
3 Easy Ways to Reduce Wear and Tear in Your Rentals
As a landlord, you want your tenants to treat your unit as you would, with loving care. But unfortunately, that doesn’t always happen. Much of the damage done to walls, floors and carpets happens on the first and last day of your tenant’s lease, because that’s when...
British Columbia Sets Deposit Interest Rate for 2013
Security and pet damage deposit interest for B.C. landlords will remain at 0.0% for 2013. The deposit interest rate is set each year per the Residential Tenancy Act. Generally, a landlord must calculate the interest owing on the full amount of the deposit before any...
Taking the Stress Out of Managing Properties
Operating a profitable rental business does not need to be stressful, although for some landlords it may seem to come with the territory. One trick is to view the rental business like any other job. Working smart doesn’t mean working more hours. It means setting up...
The Right Way to Reject a Rental Applicant
by Marv Steier As landlords we have to do what is reasonable and non-discriminatory, yet still avoid bad tenants that result in income loss. We know that landlords can’t discriminate based on certain elements. What constitutes discrimination may be different in your...
How to Reduce Wear and Tear on Your Rental
As a landlord, you want your tenants to treat your unit as you would, with loving care. But unfortunately, that doesn’t always happen. Much of the damage done to walls, floors and carpets happens on the first and last day of your tenant's lease, because that’s when...
Profit-Friendly Eviction Strategy
Each time a landlord faces a problem tenant, the thought of eviction looms in the background. But the question the landlord first needs to mull is "Can I evict this tenant?" It's at this point where it's easy to make a costly mistake -- by threatening or filing an...