Realty Information Systems

U.S homeowners spend billions of dollars every year trying to keep termites from destroying their property and repairing the damage they cause. Termites are wood destroying insects that can live in the ground, in wood or walls of homes (source). While termites do not have a certain season where they are most active, they may be most visible from March to November. From March to November, you and your tenants are more likely to see termites swarm and have discarded wings or dr

A widespread practice among landlords is to administer late fees when rent is not paid on time by tenants. A late fee generally motivates tenants to pay rent on time and saves landlords from having to hear multiple excuses about why rent may be late. However, some tenants may refuse to pay late fees by simply paying the late rent and not including the late fee. The frustration that landlords feel when tenants do not pay rent on time is increased dramatically when the tenant w

A security deposit is an amount of money paid to the landlord to guarantee that there is money to fix any damages caused by a tenant to a rental unit and that at least some rent will be paid in case a tenant is evicted. Generally, a landlord must return the security deposit within 30 days after the end of the lease. However, in some cases, a landlord may be able to deduct money from the security deposit (findlaw). A landlord cannot deduct normal wear and tear from the securit

Texting has become so common among Americans that it is the dominant way of communicating for Americans under 50. Furthermore, most American only use cell phones and no longer use landlines (Gallup). Since communication is an essential aspect of being a landlord or property manager, landlords and property managers may consider using texting for communication purposes. Furthermore, even if a landlord or property manager would rather not text, tenants may text them anyway once

One of the perks of living in a rental apartment is having a super or maintenance staff on call. However tenants may find themselves frustrated at times when their expectations for maintenance are not met. Furthermore, a tenants expectations for maintenance of their rental property may be different than a landlord's expectations. To ensure that tenants and landlords are on the same page when it comes to maintenance, it is important that landlords discuss with tenants the main

There are several reasons why a landlord may decide to hire a property manager. These reasons can include limits on time available to manage the property, and the landlord does not live near the property. After hiring a property manager, the property manager becomes responsible for taking care of the rental property. Property managers are therefore the most important piece of a landlord’s rental business as well as the biggest potential liability. As a landlord, you want to

An important factor that is an essential part of being a successful landlord is the ability to grow your property portfolio with profitable rental properties. Forbes together with Local Market Monitor analyzed markets across the country to determine which rental and real estate markets are currently undervalued and subsequently would be great to invest in (see the full list of where to invest in). Dallas: The Dallas real estate market is currently under-priced by 3% compared

Many landlords may jump at the opportunity to be paid in cash by their tenants. When paid in cash, landlords do not need to worry about the hassles associated with managing rental checks from tenants and they have the money on hand to pay property management related costs without any delay. Landlords might be even more tempted to accept potential tenants if the tenant says that they would pay several months up front in cash. However, landlords need to be wary of tenants that

With improvements in technology and the ability to store an endless amount of data on the there is no longer any reason to delay moving to a paperless property management . Working with a paperless property management system has several advantages over an antiquated paper system including it is better for the environment, reduces space needed for storage, and lowers paper related costs. Most property managers or landlords would love to go paperless but fear the transition to

For new landlords purchasing a property as a rental can be exciting and terrifying at the same time. If done correctly becoming a rental property owner offers a significant potential revenue stream. However, common mistakes made by new landlords could cost them thousands of dollars which could lead to financial failure. Having Extended Vacancies: When your property is empty you are not making money and if you are a new landlord with only one rental property that means you are