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If I Transition My Home to a Rental Property, Do I Need Different Insurance?

Eric Guggenheimer - Friday, December 13, 2019
People decide to rent out their primary residence for a variety of reasons. They may be taking an extended vacation, permanently moving but are not yet able or willing to sell their home, or they may be renting to relatives or friends.Whatever the reason is for transitioning your home to a rental property, you will need to consider differ...

Tips for Landlords on How to Deal with Tenants Who Want to Break a Lease Early

Eric Guggenheimer - Friday, November 15, 2019
As a landlord, it’s understandable that you’d want to keep your rental unit occupied, ideally with a long-term tenant that abides by the terms of your lease.However, what happens when a tenant gives notice that they intend to break their lease early and vacate the property? A lease is a contract signed by the tenant that is, i...

Tips for Landlords—Proactively Communicate with Your Tenants on Preparing Your Property for the Wi...

Eric Guggenheimer - Monday, October 21, 2019
As the fall season settles in and winter slowly approaches, property managers throughout the Northern Virginia and DC area are beginning to prepare their rentals for the cooler seasons.While your efforts go a long way to ensuring your property stays safe during the winter, communicating with your tenants is an essential component of prepa...

What Background Information Should I Require in Applications from Potential Tenants?

Eric Guggenheimer - Monday, September 16, 2019
In addition to preparing your income property to rent, you also need to ensure you have a detailed application for potential tenants to fill out. Tenants should include all necessary information on the application for you to review.Screening tenants is essential to finding the right renter for your property, and one who will respect the r...

Tips on What to Include in a Tenant Residential Lease Agreement

Eric Guggenheimer - Friday, August 16, 2019
Your lease agreement with your tenants not only outlines the terms of their residency, but also legally protects you should an issue happen.It’s important to be specific in your lease to avoid uncertainty and to make your agreement enforceable. What exactly should you include in your tenant residential lease agreement? Here are a fe...

How Much Should I Budget Annually for Rental Property Repairs?

Eric Guggenheimer - Monday, July 22, 2019
As with any property, an investment property is going to cost you money in regular maintenance and repairs. While it’s difficult to pinpoint an exact amount you should have saved for repairs, there are some general rules to keep in mind.Some property owners think DIY repairs will save money, but the reality is that they can cost you...

When Can I Consider My Property “Rent Ready”?

Eric Guggenheimer - Thursday, June 20, 2019
Having an investment property can be hugely rewarding, but it comes with its challenges, risks, and costs. When a tenant’s lease is up or an eviction has taken place and you need to turn over the unit, you’re likely wondering when exactly your unit can be considered “rent ready”.Getting your property ready to rent ...

What Exactly Do Property Management Fees Cover?

Eric Guggenheimer - Thursday, May 23, 2019
When considering hiring a property management company, it makes sense to know what fees they charge and what services these fees will cover.While every company varies in whether they charge a flat fee or a percentage, what types of fees, and what these fees involve, there are some general charges that nearly every company will have to pro...

Top 3 Reasons Why Using a Property Manager Is Preferable to DIY

Eric Guggenheimer - Tuesday, April 23, 2019
When you have your own income property, it’s certainly tempting to manage it yourself. After all, you can pocket money on the side in addition to your regular job—right? Not so fast. Many first-time and even established investment property owners attempt to manage the responsibilities of their property because they don’...

Property Maintenance Doesn’t Take a Vacation

Eric Guggenheimer - Tuesday, March 19, 2019
Whether you’re a homeowner planning a trip or a property manager who has tenants to look after, property maintenance doesn’t take a vacation. While many people take vacations during the summer, this popular season is the time when many maintenance issues—including exterior and interior—occur. Are you going to lea...

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