Realty Information Systems

On December 22 the final version of the Republican Tax bill was signed into law, and many believe it will benefit landlords. As part of the tax plan, two major aspects could impact home ownership and consequently rental demand, the reduction in the mortgage interest rate and the drop-in deductions for state and local property taxes. According to one estimate, homeownership could drop by 10% in counties that have high property and income tax. In addition, renters may be less l

In previous blog we have mentioned how it is illegal for landlords to act in a retaliatory manner towards tenants and that acting in a retaliatory manner can have major consequences for a landlord or property manager.However, it can be confusing and at times ambiguous as to what is considered a retaliatory action towards a tenant. Landlord is when a landlord who is in a position of authority punishes a tenant for making a genuine complaint. In the case of property management,

Whenever a tenant signs a lease, there is also some risk that the tenant will not be able to consistently pay rent for the term of the lease. When that risk is heighten a landlord, or property manager may consider approving the tenant for the lease if they have a cosigner. A cosigner is a third party that is also responsible if a tenant is not able to pay rent. Landlords may want a cosigner for a lease if it is a young tenant without an established credit history or if the te

Airbnb in 2008 with the idea of letting strangers pay people sleep on their couch as a way for people to make extra money towards rent. A little over years later Airbnb is a $25 billion company. However, the last nine years has not been easy for Airbnb as they have faced a slew of obstacles including lawsuits by local governments, steep penalties for those that use their service and pushback from landlords. However, Airbnb has formulated a new business strategy that could be

Landlords and property managers collect security deposits so that they may have a safety net if a tenant damages property or does not pay rent. However, as a landlord even if you follow your state and local laws related to security deposits perfectly and only keep security deposit money that you are legally entitled to, your tenant may sue you in small claims court to get the money back. If you have already taken all or a portion of the security deposit it is likely this ten

Conducting proper background checks on prospective tenants is an important part of most landlords’ and property managers’ job. Conducting a proper background check can prevent a problematic or difficult tenant from ever leasing one of your rental units which will save you time and money in the long run. One important aspect of a proper prospective tenant background check is a credit check. Conducting credit checks on prospective tenants helps landlords determine if tenants a

Whenever a landlord does not give back all or some of a security deposit they put themselves at risk for a lawsuit over the funds. Even if the landlord or property manager is 100% justified in keeping part or all of the security deposit, it may not stop a tenant from filing a small claims court lawsuit. Therefore, it is essential that landlords and property managers take the proper steps to protect themselves against a security deposit lawsuit. Since each state has different

There have been many predictions over the past few years about where the rental market was headed. After the 2006 recession home buying slowed and renting increased causing rental prices to increase across the country. This past April, after years of rental market growth it was predicted that home ownership was set to rise as new household ownership began to outpace new renters. However, a new Pew report surprised many as it reported that in 2016, 36.6% of households rented

Whenever a landlord does not give back all or some of a security deposit they put themselves at risk for a lawsuit over the funds. Even if the landlord or property manager is 100% justified in keeping part or all of the security deposit, it may not stop a tenant from filing a small claims court lawsuit. Therefore, it is essential that landlords and property managers take the proper steps to protect themselves against a security deposit lawsuit. Since each state has different

Landlords are business owners, and as business owners, they will have to deal with many issues that arise including dealing with angry customers/tenants. In the business sense, tenants are landlords’ customers, and it is even more important that landlords deal with angry tenants in the same professional manner that other business owners would interact with their customers. When dealing with tenants, landlords and property managers must remember that tenants also can cause add