A partial rent payment occurs when one of your tenants pays only a portion of their monthly rent. So, for example, of a tenant’s rent is $1200 a month, but they only pay you $800, this would be a partial rent payment. While a tenant should be able to pay their full rent each month,… Read more »
Understanding the Rules of Security Deposits
Just about anyone who has rented or leased a property is familiar with the concept of a security deposit. What exactly is the purpose of this deposit and when is a tenant entitled to have it returned when they move out? We’re here to go over the basics to help you out. The uses of… Read more »
What Landlords Should Look for During a Walkthrough
When a tenant hands in their notice, you’ll need to ensure that the apartment is still in good condition. As a result, many landlords perform walkthroughs that will determine if and how much of a tenant’s security deposit will be returned. If you’re doing a walkthrough, make sure you look out for these items: Marks… Read more »
The Pros and Cons of Land Contracts
If you are buying or selling property in the state of Michigan, you can essentially cut out the middle man by handling the sale through a land contract. In such a sale, the seller sets up an installment plan though a contract with the buyer that states the price in addition to how the taxes,… Read more »
How Landlords Can End a Month-to-Month Tenancy
A month-to-month lease is exactly as it sounds—it renews every 30 days (or every month) until the tenant gives notice. However, landlords can also end a month-to-month tenancy. Here’s how: You might need a reason In most cases, a landlord can end a month-to-month tenancy without reason. However, in government subsidized housing or in mobile… Read more »
Top 3 Things Landlords Should Do Before the End of the Year
If you are a landlord or a property manager in Michigan, there are a series of steps that you should take at the end of every year to ensure that you don’t lose out on any money as you head into the new year. By squaring away old debts with your tenants and learning about… Read more »
Tax Tips for Landlords
With the end of 2022 just around the corner, it’s never too early to start preparing for tax season. Below, we discuss everything a landlord should do to prepare for their taxes: Why types of records do you need? There are two types of records you must have for tax purposes: a record of your… Read more »
Landlord Responsibilities for Utilities in the Winter
Winters can get chilly in Michigan, so during the colder months of the year, landlords across the state need to be mindful of their tenants and their access to utility services. Electricity, gas and water are essential to the basic needs of tenants year-round, but heat is something that tenants will definitely need once the… Read more »
Organizational Tips for Landlords and Property Managers
Landlords and property managers must stay organized. It is essential for running your property efficiently, but it can also help protect you against lawsuits. After all, if you document everything and store those documents properly, you’ll be able to rely on them if a tenant, employee, or contractor takes you to court. Here, we discuss… Read more »
What To Do When a Tenant Vacates and Abandons a Vehicle on Your Property
One of your tenants has just vacated your property, but they left their vehicle behind. This may seem like an unlikely occurrence, but it happens more often than you think. But what should you, as the landlord, do? Contact the police One thing you can do is contact the police and request that the abandoned… Read more »