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What Exactly is “Normal Wear and Tear”?

Wear-Tear-Normal

“Normal wear and tear” can create a lot of confusion. Tenants and landlords often have disagreements when deciding what to consider as wear and tear. That’s why it’s important to include the term in your Tampa lease agreement.

In this article, we’ll cover the basics of recognizing normal wear and tear. Do note that you should look into Florida laws for extra assurance. (more…)

Hiring a Property Manager vs. Self-Managing: What’s Better?

Advantage PM

Congratulations on owning a rental property in Tampa, Florida. Your hard work, persistence, and patience have paid off. You have now set the groundwork for earning passive income for many years to come.

That said, buying the rental property was only half the equation. The remaining half is arguably the hardest part because it revolves around property management. The way you manage your property can make or break your rental business.

That’s why many Tampa landlords usually ask themselves – should I or should I not hire a property manager. (more…)

8 Key Clauses to Include in Your Tampa Lease Agreement

Clauses in Tampa lease agreement

A detailed lease agreement is important for both landlords and renters in Tampa. When it contains the right terms, it can help minimize headaches down the road. The more thorough it is, the better.

Remember, you cannot penalize your tenant for something that they don’t know about. For example, without outlawing subleasing, your tenant may do it when you aren’t looking.

In today’s article, we are going to take a look at some of the key items every landlord in Tampa should include in their lease or rental agreement.

(more…)

5 Mistakes Real Estate Investors Make When Budgeting Their Property

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The greatest advantage of investing in real estate is the ability to predict what your ROI will be.

That said, your return on your Tampa, Florida investment is only as good as the numbers you begin with. So, avoiding mistakes early on in your investment journey is key to your rental business’ success.

In today’s post, you’re going to learn 5 of the most common mistakes beginner rental property investors make when budgeting their property – and how you can avoid them.

So, read on to find out how to start a successful rental property business! (more…)

Common Mistakes Beginner Real Estate Investors Make

mistakes-beginner-real-estate-investor

Do you dream of becoming a rental property owner?

Maybe owning a few income properties from which to make a passive income?

Understandably, owning a rental property can be financially rewarding. In fact, real estate has produced many of the world’s wealthiest people. (more…)

5 Tax Benefits of Investing in Real Estate

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Paying taxes may be mandatory, but it doesn’t have to be expensive.

Did you know that there are a number of tax benefits for real estate investors?

And that using these benefits can reduce your tax expenses by thousands of dollars? (more…)

How to File a Complaint Against a Property Management Company

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Is your property manager giving you a hard time? Do you feel like your tenancy application was unfairly declined? Or would you like to know how to file a complaint against a property management company?

If so, you are in the right place.

Generally, property managers are often responsible for all matters related to the safety, health, suitability, and usability of rental units.

Therefore, whenever they fail to provide one or more of these essentials, tenants can file complaints against them. (more…)

How to Rent Your Former Home

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Renting a home can provide far greater returns than selling a home. Aside from the tax benefits, you can also accumulate long-term wealth by investing in a rental property.

However, when renting your former home, one thing could get in the way of your success – your emotions!

Our homes are filled with memories. They serve as the backdrop of the families we’ve built, parties we’ve thrown, and the friendsgivings we’ve hosted. It is where we retreat to when we’re worn out, when it storms, and when we’re sick. All these add to an emotional connection to our homes. (more…)

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