Rental Investing & Management

When leasing apartments, there are some features which have become standard over the years, which were once luxuries. Refrigerators and central air come to mind as good examples. Where once only the best apartments provided these for tenant-use, now only lower-tier units fail to. One feature that seems to be graduating from the "upper-end feature" category is washer and dryers....

Although laws regarding them are quite clear, a lot of landlords seem to forget that security deposits are to protect against property damage. Upon the termination of a lease, if a tenant returns the property in the same condition as when they moved it, the deposit has to be returned to them. Deposits are not rent and cannot be kept without cause. Following recent local headlines on the matter and a...

It's ironic that I so often blog about proper security at properties, when I can't even follow my own advice. Last Thursday at 5:30pm I had to rush out of the office for a quick appointment. Normally, I close my laptop when I head out as it can easily be seen through the window from the street, but I was in a rush. Upon my return about 20 minutes later, I was shocked to find my office door kicked in and my...

When I began rehabbing the apartment above my office, I promised myself I was not going to cut corners. I was going to make the place all it could be, no matter the cost or time it took. One of the things I was always unhappy about was the handles and back plates on the original doors. Most of the door hardware for my mortise locksets had been damaged or replaced through the years and the result was...

Shotgun-style units are a dime a dozen in South St. Louis. I don't understand how anyone ever thought they were functional, regardless of the era they were built. Perhaps we can point to the invention of air conditioning and the fact that we take privacy for granted these days, for the changes in layouts. Regardless of why they were built that way, the question of what to do with these "less than ideal"...

Since the market began to slip in the mid-2000's, it has become harder and harder to get favorable appraisals. Especially on investment oriented properties, such as multi-families and rental homes, with so much of the local market dominated by foreclosures and cash investors.  When there are no comparables to be found, most appraisers are going to look at things from an income approach. They are going...

Keeping your properties safe and secure is one of the most important responsibilities of a property owner. Failure to maintain proper security can lead to expensive vandalism and property theft or even leave occupants open to potential violence. One of the most efficient and cost-effective ways  to ensure proper security is to have proper security lighting....

Nothing hurts a landlord's pocketbook or pride like being the victim of theft or vandalism. Prior to PEX plumbing the main security issue facing landlords and homeowners in St. Louis and around the country is copper theft, but there are many other temping targets at any property. One particularly expensive and "easy to steal" component are AC condensers. With thousands of dollars of materials and labor...

Whether you are talking about your own home or a rental property, nothing is quite so fun as replacing light bulbs. No matter how quickly and easily the change can be done, it's amazing how long we all tend to put off such menial tasks. One of the best ways to cut down on this hassle is by using compact fluorescent (CFL) light bulbs instead of the traditional incandescent....

One of the biggest maintenance issues landlords and homeowners face at their properties is with their heating and cooling systems. With the extreme heat of St. Louis summers and extreme cold of St. Louis winters, our environment can certainly put a strain on these systems. Annual maintenance by your HVAC technician is always a good idea, but there is one simple thing you can, and should, be doing ever...

One of the most awkward situations a landlord can face is informing a tenant that they will not be renewing their lease. Whether the tenant has been in the apartment for one year or ten, it can be a delicate matter. Proper management of the situation will help to avoid lack of final rental payment and property damage. Following these tips will help to make the situation easier: Send the tenant a letter...

An often overlooked side of owning investment property, is how to manage the property in the most efficient way. Simply throwing in any tenant and letting the property sit idle could eventually lead to major troubles. Although, some things take time to employ, in the long run they can make your life a lot easier. The following are a few tips to help your investment run a smoothly as possible:...

When it comes to managing properties, its generally best to keep things as simple as possible. One of the most common "emergency" issues many landlords encounter is a tenant locking themselves out of their apartment. Even if you live nearby, having to deal with such problems can be a major nuisance. Thankfully, there is something you can target to help cut back on lockouts: handleset locks on entry doors....

If you have ever rented an apartment, chances are you have heard of Craigslist. If you haven't you are missing out on the best way to advertise your apartment units. And did I mention that it is free in most cities? Having placed my fair share of postings on the service, I have learned a few tricks on how to make the most out of each ad with the least amount of effort possible....

A drive down the streets in the City of St. Louis after dark can be a telling thing. Some streets that seem great during the day show a different face at night. One of the most telling things about an area during the night is not the curb appeal of a house, but the quality of  lighting along the street. As a property owner, you don't really have much too say about the streetlights, but lighting your own...