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Opting to do a DIY approach when it comes to managing your rental space is common, especially for new full-time landlords. Most new property owners think that self-managing is fairly easy. Some purchase real estate while others convert their own residential homes into a rental as a source of passive income. When self-management is doable, it can also lead to committing missteps that hurt your income and overall investment. Here are 7 mistakes DIY landlords need to avoid: 1. Insufficient Budget Allocation for Vacancies The rental business can be…

A huge part of delivering a habitable rental property is ensuring it’s safe. As a property investor, your goal is to build more value for your real estate asset. As such, it’s critical to adopt security measures that reassure renters they’re staying in a safe unit. What’s more, they’re likely to become long-term tenants when safety is a priority. Make sure that your rental space is secure, well-maintenance, and insured to prevent your renters from wanting to move out. When you have firm security measures in place, you reduce your stress and avo…

To be a successful landlord, it is vital to learn the differences between month-to-month leases and conventional ones, so you know when is best to offer each. A month-to-month lease is typically a short-term one and is well-suited to landlords who aim for flexibility when renting out their properties. Whereas more conventional leasing agreement generally lasts 12 months. So, if you’re considering offering a renter a month-to-month lease, we at Brentwood Square Management recommend that you study the specific benefits and drawbacks of this lease…

It was once enough for landlords to use free utilities to entice renters to sign a leasing agreement. But the rental market has changed and many niche markets have sprung up, catering to individual needs of a variety of different tenants. Among the variety of things that renters today seek are furnished rental units. Some prospects won’t stay for long in a certain area as they may be completing their studies or other training. Consequently, a furnished rental can be appealing. So, the question a landlord has to answer: “is it worth investing …

Once you’ve found a great tenant, it’s in your best interest to keep them as comfortable and happy as possible. As a landlord, this will benefit your bottom line in a variety of ways. Among other things, you’ll enjoy consistent cash flow, and have peace of mind knowing your property is being cared for. In today’s blog, we at Brentwood Square Management will walk with you through the 7 best tips that can help you keep your renters happy. Rent to the Right Tenant Tenants aren’t created equal. So, your focus should be on landing the best group o…