2019 is a great time for rental property owners as rental prices have increased by 3.2 percent over the past year. However, as a landlord, renting to the wrong person can increase maintenance costs and disrupt your cash flow. Dealing with difficult tenants worries most landlords, which is why it’s essential to take certain steps to ensure you rent your property to the right person.
The landlord-tenant relationship is often strained and difficult to navigate due to constant disputes. These disputes are stressful for both the landlord and the tenant, severely impacting their peace of mind. The majority of disputes that occur between the two parties are largely due to a breach of obligations.
Earlier this summer, the Albany State legislature passed a bill that would transform the lives of New York City tenants as they know it. On 14th June, the Housing Stability and Tenant Protection Act of 2019, commonly referred to as universal rent control, made the lives of more than two and a half million tenants in NYC significantly better.
The most common factor that can jeopardize a construction project is the breakdown of communication. Client/manager and manager/worker communication play a critical role in a project’s outcome; any gap can lead to losses in the thousands of dollars, if not millions!
Real estate investment has undoubtedly made many Americans rich but it comes with its fair share of risks.
If you’re new to the world of property management, construction development or real estate investment, then here are some tips to get you started.