When accepting a new tenant, every landlord has to draft a lease agreement. After all, a lease, details exactly what you, the landlord, and the future tenant are responsible for. This not only prevents any confusion between you and your tenant, but it can also protect you from a potential lawsuit. But how do you… Read more »
How to Report a Delinquent Tenant to the Credit Bureau
No landlord wants to deal with delinquent tenants. A tenant who doesn’t pay their rent is not only a problem for you but a problem for future landlords as well. Reporting delinquent tenants to the credit bureau can indicate to other landlords that they shouldn’t rent to this particular person. However, reporting a delinquent tenant… Read more »
What to Do When a Tenant Stops Paying Rent
At one time or another, you will have a tenant that doesn’t pay rent. This can be a serious problem, especially if the tenant has a pattern of skipping payments. So, here are some steps you can take if one of your tenants misses a payment: Double-check the lease agreement and payment records Before taking… Read more »
A Landlord’s Guide to Pet Deposits, Fees, and Rents
We all love our pets, but they can be destructive. Pets, after all, can not only damage your property, but they could also be a nuisance to neighbors. 46% of renters live with pets, meaning that nearly half of your tenants likely own a pet. Allowing pets onto your apartment complex is a fine choice,… Read more »
What You Should Know About Quiet Title Action
A quiet title action is a lawsuit that seeks to resolve, or “quiet,” a dispute over the ownership of a specific property. One may file a lawsuit against anyone who tries to claim ownership of a property that you believe is yours. For these cases, you may want to contact a real estate lawyer to… Read more »
Why Landlords Should Require Tenants to Have Renters’ Insurance
As a landlord, you have a lot to worry about during the course of any given month. The safety and security of your tenants’ possessions, however, shouldn’t be one of them. Many tenants mistakenly believe that a landlord’s insurance policy will cover any possible damage; this can lead to potential lawsuits and other complications. But… Read more »
New Report by JLL Highlights Difficulty of Finding Downtown Detroit Office Space
Downtown Detroit is on the rise. With recent developments and companies returning to the city, vacancy rates in prime office buildings have dropped. However, this also means that finding prime office space is now more difficult than ever. According to the annual Detroit Skyline report by the Royal Oak office of JLL, more than 92%… Read more »
How Can Landlords Protect Themselves Against Potential Lawsuits?
As a landlord, it’s only natural to worry about potential lawsuits. Keep in mind, however, that nobody (except for lawyers) wants to go to court, and most landlord-tenant and liability lawsuits can actually be avoided with good property management strategies. Here are a few tips that can help protect you from litigation: Screen Your Tenants… Read more »
Redfin Names Detroit Most Affordable City for Middle-Class Homebuyers
If you’re thinking about buying a home in the near future, you may want to stick around Motor City. In addition to the city’s rich history and vibrant cultural scene, brokerage firm Redfin has recently named Detroit the most affordable city for middle-class homebuyers. Redfin estimates that in order to afford a “typical” home in… Read more »
Study Finds Detroit Demolitions May Have Curbed Crime Rates
According to a new study conducted by the University of Michigan and Harvard University, Detroit’s demolition program may have curbed crime rates and decreased firearm violence. First, some background: Thousands of houses in Detroit sat vacant and abandoned for years after their owners moved out to the suburbs or had their homes foreclosed. Many of… Read more »