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Vacancies are inevitable when renting out a property. The goal is to ensure you fill them quickly by having a robust rental marketing strategy. Unfortunately, a number of landlords end up making costly mistakes that significantly impact their bottom line. Luckily for you, in today’s post, we’ll highlight 7 mistakes you’ll want to avoid when marketing your rental property. 1. Not Having a Plan You must have a plan to succeed. When advertising anything, you must have a unique selling point for people to be interested in what you’re offering. B…

In addition to providing a place for your renters to reside, as the landlord, you must protect them against risks such as burglaries, unauthorized access to the property, and other incidents. To ensure the safety of both your tenants and the rental property, one of your top priorities should be to strengthen general security by practical methods like increasing light sources, enhancing entry and window security, and conducting thorough tenant screening before leasing. For all landlords everywhere who wish to safeguard their properties, here a…

Putting things in writing ensures proper understanding. Financial institutions typically ask you to sign an agreement before opening an account or releasing a loan. As a landlord renting out your unit, this practice should also apply to you. You should have a signed leasing agreement with your renter. Lease agreements tie the landlord and renter to comply with the terms and conditions set in the agreement. They outline all of the landlord’s duties, property policies, clauses, and disclosures. In case certain situations arise, lease agreements c…

Making sure your rental property is well maintained, and livable is one of the most important duties you have as a rental property owner and your tenants are more likely to rent from well-maintained property. Such efforts not only help you to save the time and resources spent on repairs but they also help to improve your assets' value. At Mark Thomas Properties we believe maintaining your property correctly is critical to your success as an investor. So, we have provided the below tips to help you manage the maintenance of your property. Sched…

The term “normal wear and tear” is commonly used in the rental market. This term typically refers to the reasonable and expected depreciation of the property as a result of normal use. As a rental property owner, knowing what is considered as normal wear and tear is crucial. This can help you determine the maintenance and repairs that are due to reasonable wear and tear, and the ones that are due to neglect and abuse. When you run a rental business, wear and tear is usually a landlord’s responsibility to fix. But the tenant should be held acco…