property management

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....

One of the most important things every investor needs to do before purchasing a property is a profitability analysis. At first glance, many deals seem great, but upon further review turn out to be anything but ideal. You just can't tell for sure until you do the numbers. That's where this spreadsheet might come in handy. If you have Microsoft Excel (or OpenOffice), this financial spreadsheet is a good...

Landlords of Missouri, it is time to celebrate. Common-sense has finally won the day in terms of our eviction law. From now on, when an eviction occurs, there is actually a legal pathway to removing the tenants property thanks newly signed Senate Bill 231....

So you've approved an application and the tenant wants to sign a lease in a week. Your search for a tenant is over, right? Maybe not. When it comes to renting apartments, until you actually have money in hand its never a sure thing....

One thing I have always taken for granted in real estate investing is the apartment lease. Just after getting into the business I got a hold of a great lease and I guess I have been a little spoiled....

I'm always astounded at how many investors don't keep detailed records on their properties. Especially since most of this data is submitted to the IRS at tax time. For some reason or another, after the data has served it's initial us, the information often gets tossed aside. If your records look like this picture or if they end up in the trash can, I encourage you to think twice about what you do. You are...

Don't let this man's phony smile fool you. He could be a thief. If someone comes knocking at your door, claiming to be a contractor, be careful of what you do. I just received this forward from a Circuit Attorney in the City of St. Louis. If you live or own any properties in the City you should really take this one to heart....

According to forecasts.org, as of today, the rate of inflation in the United States is 4.12%. That's really high! Whether you live in St. Louis, the East Coast or Juneau Alaska this affects everything from the cost of a gallon of gas to your taxes. Money is worth less so it takes more of it to buy any product....

Trash is never-relenting enemy in urban areas. Your tenants can be the cleanest on the block, yet trash will find a way into your yard. Those "free" newspapers that seem to appear out of nowhere on your front porch are a particular pet peeve of mine. Regardless of where it comes from, it needs to be taken care of. You'd think people would realize that by now, but I find myself constantly astounded at how...

Seeing as it has been sleeting and snowing all day, I figured I'd make mention of the issue of icy sidewalks. Spreading ice melt prior to a storm or getting quickly around to shoveling snow at your properties is not always a realistic option. It's usually a gray area on who's responsibility such work is as well. One way to appease your tenants in this situation is to have some salt or ice melt and a snow...

Nobody likes handling maintenance calls. Not only are they a pain, but they tend to cost money to fix. And no one likes to pay for unexpected expenses. One of the most frustrating issues a landlord can encounter is trouble with a property's HVAC system. A downed heater or air conditioner at the wrong time can really put your tenants on edge. If its a holiday or weekend its going to be a pretty expensive...

*NOTE - This article was originally written in October of 2006 for the newsletter. Salvage yards across St. Louis rarely ask where their customers get the scrap metal they bring in. That’s a shame, because they might be getting it from YOU! Copper thieves can turn a great rental or rehab building into a nightmare. Replacing the pipes can be costly and time consuming. Water damage caused by the...