Rent Control, Managing Rentals and the GRM

http://www.dreamstime.com/stock-photography-house-keychain-image16075682Renting out your apartment can be a cost-effective way to earn a few extra dollars. So, if you have an extra room, feel free to find someone to live there. However, as you become a landlord, there is one thing you will need to learn to live – rent control and the gross rent mulitiplier.

What is rent control?

Rent control is more or less like price control. Typically, the government (federal or state) will impose a special law that limits how much you can raise rents on “existing” landlords. The program is common in densely populated cities where it may be difficult for these tenants to find affordable housing. It could also be necessitated by a calamity or a terrorist attack in the city that destroys a large number of housing units. Read more

Maintaining Rental Properties

http://www.dreamstime.com/royalty-free-stock-images-property-maintenance-painting-metal-stanchion-restoring-paint-image33279369Maintaining Rental Properties can be difficult depending on the property and owner’s experience. Whether the property is an apartment building, a duplex or a house; maintenance is a large part of the property owner’s responsibilities. It doesn’t matter if its something as simple as mowing the lawn, or something as complex as repairing plumbing leaks and electrical issues. Maintaining the property in superior condition lies on the owner’s shoulders. Having a company that knows how to help is essential.

Maintaining a property isn’t easy:

Even if the property has been developed specifically for rentals, or the building is brand new.  Making sure all the appliances work, taking care of landscape maintenance, and even mundane tasks, such as clean hallways and dumpster areas can overwhelm even the most dedicated of owners. This is especially true if he or she owns more than one property. This is where having a service that knows how to take care of all tasks, from mundane to complex, comes into play. Read more