Key Takeaways Cash Flow Drives Profitability: Understanding and managing your rental property’s cash flow is essential to covering expenses, building long-term wealth, and avoiding financial setbacks. Smart Strategies Protect Your Bottom Line: From competitive pricing and tenant screening to budgeting for repairs and minimizing vacancies, proactive planning helps maintain positive cash flow, even in challenging markets like Fall River. Professional Management Boosts Performance: Partnering with Fall River Property Management can enhance your …
Should I Allow Tenants to Paint my Rental Property?
Key Takeaways Set Clear Boundaries in the Lease: Include specific clauses about painting permissions, approved colors, and repainting responsibilities to protect your property and avoid disputes. Choose a Policy That Balances Control and Flexibility: Whether you say no, offer conditional approval, or allow full freedom, align your approach with your property goals and tenant expectations. Communicate Early and Document Everything: Always get painting agreements in writing, review local regulations, and maintain open communication to ensure co…
End of Tenancy Cleaning
Following a tenant leaving, the landlord has responsibilities. If there is no damage to the property beyond normal wear and tear, landlords are obliged to repay the security deposit and attest that the tenant cleaned the space before leaving. Including a maintenance and repair provision in the lease agreement, along with an end-of-tenancy checklist, is essential due to potential differences in cleanliness standards between tenants and landlords. This ensures tenants are provided with clear guidance on areas requiring attention, potentially mit…
How to Know if Your Rental Meets Safety Standards
As a landlord, ensuring that your rental property meets safety standards is not just a legal requirement—it's a moral obligation to your tenants. Safe housing contributes to the well-being of tenants and protects you from legal liabilities. In this comprehensive guide we will help you assess whether your rental meets safety standards. 1. Legal Requirements Federal and State Laws: Start by familiarizing yourself with the federal, state, and local housing laws. These laws often outline the minimum standards for rental properties, covering asp…
Tips to Prevent Tenant Damages to Your Rental Property
As you consider investing in rental real estate, you should come to terms with the inevitability of tenant damage to your property. However, that doesn’t mean that you should take a passive role. There are steps that you can take to protect your investment and reduce the cost of damage. Our team at Fall River Property Management is the leading property service provider in the region. Here are some tips on how you can reduce tenant damage to your rental property. Tenant Screening From our experience in the local property market, screening pot…
I couldn't be happier with Lyndsey and her team. From the initial phone conversation right through to the closing and management they have always been there with sound advice and prompt service. As an out of town investor it is very comforting to know that they are there 24/7 looking after both my investment and my tenants.