How much profit should you make on a rental property?
Landlord Studio
by Ben Luxon
1y ago
Rental properties can be a great way to make passive income, but it’s important to know how much profit you should be expecting from your investment. Knowing how much of a return you can expect from a rental property will help you make informed decisions about your investment. In this article, we explore the different factors that go into determining how much profit you should make on a rental property. We’ll discuss how to calculate rental income, expenses, and net profit. We’ll also provide guidance on how to achieve a profitable return on your rental property investment. Determining if ..read more
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Top 12 Real Estate Investor Software for Success
Landlord Studio
by Ben Luxon
1y ago
Having the right tools and software for analyzing the market and managing your rentals can mean the difference between success and failure. However, figuring out which tools to use, which you need and which are the best can be challenging. This is why we’ve compiled this article that breaks down 12 of the top real estate investor software on the market today. What is Real Estate Investor Software? The bracket of ‘real estate investor software’ covers a wide amount of ground, from finding and analyzing deals, to levelling up productivity, managing your team, and tracking your portfolio fina ..read more
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About Rent Receipts for Landlords (Plus Free Template)
Landlord Studio
by Ben Luxon
1y ago
Contents What is a rent receipt? Are landlords legally required to give a rent receipt? Why do landlords use rent receipts? Information to include on a rent receipt Free rent receipt template Automate rent collection and rent receipts with Landlord Studio There are several benefits to giving rent receipts to your tenants. From helping you to avoid potential disputes down the line to ensuring that both parties are aware of any owed rent or additional late fees. How your tenant pays rent may also impact whether or not you give your tenant a rent receipt. For example, if you collect rent ..read more
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How Much Does Rental Turnover Actually Cost?
Landlord Studio
by Ben Luxon
1y ago
Contents Rental turnover costs: the complete breakdown Top causes of tenant turnover How to reduce apartment turnover Amenities that reduce turnover time Using Landlord Studio to reduce apartment turnover Apartment turnover: key takeaways Apartment turnover comes with a range of costs and additional work. It means creating a listing, arranging phone calls, replying to emails, managing viewings, collecting applicants and screening tenants. Even without the loss of your expected rental income, these costs can quickly become a significant financial burden. A vacancy that drags on for just ..read more
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How will the Inflation Reduction Act Affect Landlords?
Landlord Studio
by Ben Luxon
1y ago
Becoming a landlord can be an excellent and unique business and investment opportunity. However, knowing the impact of inflation on real estate is vital for those who have just acquired property or long-time homeowners. Due to inflation, goods and services become expensive, making it challenging for consumers to purchase what they require. Unfortunately, real estate is not an exception. There are several ways that inflation affects landed property. For instance, real estate development costs can increase dramatically due to rising wages and higher supply and material costs. This reality ca ..read more
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A landlord’s guide to rental concessions
Landlord Studio
by Ben Luxon
1y ago
Rental concessions are a useful tool for attracting and retaining high-quality tenants. But more than that, they help keep your units occupied in certain circumstances where: supply has outstripped demand, or you’re having trouble finding or retaining high-quality tenants. However, you’ll want to make sure you only offer rental concessions in certain circumstances and not use it as a replacement for solid marketing and/or a good screening process. In this article, we outline several common examples of rental concessions, the pros and cons, and how and when to use one. Rental concession d ..read more
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8 Best Background Check And Tenant Screening Services
Landlord Studio
by Ben Luxon
1y ago
Having an efficient tenant selection process is essential for landlords if you want to keep costly vacancies to a minimum. However, you can’t just select the first tenant that comes your way. You need to ensure that the tenant can pay the rent on time and in full every single month. And ideally, you’ll assess their likelihood to also look after your property during their tenancy period. Employing quality tenant screening services as part of your tenant selection process will help you streamline your selection process and help you mitigate the risk of bad tenants. These tenant verification ..read more
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5 Ways to Reduce Tenant Turnover and Expensive Vacancies
Landlord Studio
by Ben Luxon
1y ago
Finding tenants and filling vacancies can be a stressful and time-consuming process, from creating your listing to organizing viewings and collecting applications. However, it’s also one of the most important parts of being a landlord. Every day the property sits empty is lost revenue. As such, landlords need efficient processes to find and secure great tenants in order to minimize expensive vacancies. In this article, we take a look at what you need to know in order to reduce tenant turnover and efficiently find new tenants. 1. Create and share a quality listing Your rental listing will c ..read more
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About the New 1099 Requirements for Rental Income
Landlord Studio
by Ben Luxon
1y ago
There are a number of ways landlords can collect rent, from cash and checks to online payment platforms like Venmo or Paypal, as cash or checks, to landlord software like Landlord Studio. Whereas it used to be possible to receive payments without reporting the earned amount during tax time, the rules have now changed, In an attempt to crack down on unreported rent, the Internal Revenue Service (IRS) has implemented a change regarding rental income reporting in 2022. According to the new regulations, landlords and property managers must now ensure they report all rental income over $600 dur ..read more
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13 Best Property Maintenance Management Software for Landlords
Landlord Studio
by Ben Luxon
1y ago
In order to keep your rental property in tip-top condition, you will inevitably need to schedule property maintenance tasks from time to time. This could be to fix a myriad of problems from general wear and tear to electrical and plumbing issues and broken HVAC systems. This is where property maintenance management software comes into play, as it can help you track and manage your maintenance tasks with ease. Not only is this great in terms of organization, but you can also save money and time. Related: Rental Property Preventative Maintenance Why use software to manage property maintenanc ..read more
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