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Do you own a rental property in Durham but are struggling to retain tenants? You’ve come to the right place! Many investors ignore that the secret to a smooth, stress-free rental experience is keeping tenants happy. Believe it or not, this is not as complicated as it sounds. Tenants want simple things: a clean and well-maintained property, to feel heard, and freedom in their rented living space. By regularly maintaining the property, listening to and addressing tenants’ concerns, and respecting their privacy, your tenants will be happier and, t…

As a rental property owner, one of your most important responsibilities is to provide a safe living space for your residents. A rental that fails to meet safety standards doesn’t just put your residents at risk, it can also lead to costly fines, legal issues, and property damage. Understanding cash flow means recognizing how these setbacks can impact your bottom line and long-term profitability. But how do you know if your rental is up to code? Ensuring your property meets safety standards isn’t just about checking a few boxes. It requires a p…

The Tax season is just around the corner. And as a landlord, now is the best time to start getting all relevant documents in order. Under federal law, landlords have a duty to report all rental income on their tax returns. As per the Internal Revenue Service (IRS), rental income can take many forms other than the typical monthly rental income. Rental income can include security deposit deductions, lease agreement cancellation fees, late rent fees, and any service the tenant may have rendered in exchange for living there. Essentially, you have…

Sure, rent is the bread and butter of any rental investment. However, it may not tell the whole picture when it comes to your investment’s profitability. And this is where cash flow comes in! You’ve probably heard it before; cash flow is king. And indeed it is! It’ll help you know how profitable and sustainable your rental investment is, or is going to be if you’re a prospective landlord. At Mark Thomas Properties Property Management, we understand the importance of cash flow. In this blog, we’ll cover the basics and how they can help keep you…

In Durham, where rental properties often offer similar features, standing out from the competition is crucial. Offering the right amenities can give you an edge in attracting tenants. Different renters prioritize different features. Professionals might need a parking space, while families may value extra storage. To effectively market your property, understanding the needs of your target audience is key. By tailoring your amenities to their lifestyles and highlighting these features in your listing, you can increase your chances of attracting …