Relationships between landlords and tenants occasionally take unexpected turns. Tenants who were perfectly qualified when they were approved to rent can lose a job, get divorced, have illnesses, or any number of other situations which can impact their ability to fulfill their financial obligations. In these cases, they may turn to bankruptcy as a way to stave off creditors and reorganize or eliminate debts. The legal process of bankruptcy, while primarily concerned with the individual's financial status, can also have implications for the rental housing they occupy.  What is Tenant Bankr ..read more

Assignment vs Subletting – What are the differences? Assigning a residential lease agreement and subletting are two distinct ways of transferring tenancy rights in a rental property, each involving different legal and practical implications. Here’s a breakdown of their differences: Assignment of a Residential Lease Agreement: Definition: Transfer of Responsibility: Assigning a lease involves transfer of the original tenant’s entire interest in the lease to a new tenant. The original tenant ceases to have any rights or obligations related to the property. Process: Consent from Landlord: Typica ..read more

You can purchase land, buy seeds, and invest in the finest crystal-stemmed wine glasses imported from Spain. Thousands of dollars can be spent on new paint, modern shelving, and trendy lighting. In theory, all the components of a winery can be at your disposal with the swipe of a credit card. However, what truly defines a remarkable winery is something that cannot be found in a store or shipped to your doorstep from Amazon. It’s an intangible charm that can only be acquired through genuine passion for the craft and a connection to the land. And it's a charm that Dave Sheldon and his family at ..read more

With the increased liability for mold related issues in rental homes as well as the generally destructive effects of water damage, property managers are always looking at ways to prevent water related losses. Water heaters, washer drain lines, and supply lines for plumbing fixtures and ice makers are always areas of concern. Another fairly common occurrence in more temperate areas of the country is leaking of HVAC condensate drains. With the onset of warm weather and air conditioning systems often operating 40-50 minutes out of each hour, a clogged condensate drain can become a problem in a sh ..read more

Do what you love, and you never work a day in your life! For one Virginia Beach local, the opportunity to pursue his love of surfing as a career began with the single gentle nudge of a surfboard. On a scorching Tuesday morning, Seth Broudy rolls up to the Boardwalk on his beach cruiser and comes to a halt next to a statue of two bronze surfers titled, “Anticipation”. Despite the weekday, the beach is bustling with surfers making the most of the pre-storm swells. His eyes fixate on the line up, watching the boards carve through each incoming wave.  The waves rolling off of the 1st Street ..read more

Tenant selection is a critical aspect of property management, and it carries significant fair housing implications. The Fair Housing Act, enacted in 1968 and subsequently amended, seeks to eliminate housing discrimination based on certain protected characteristics. When selecting tenants, property owners, landlords, and property managers must adhere to fair housing laws to ensure equal housing opportunities for all. Fair Housing Act and Protected Characteristics The Fair Housing Act is a federal law that prohibits discrimination in housing based on seven protected characteristics: Race: Discri ..read more

As the temperatures rise and the days grow longer, it's time to welcome the beauty of summer into your home. Revitalize your living space with these summer home decor ideas that seamlessly blend form and function. Embrace Nature-Inspired Colors Introduce the vibrant hues of summer by incorporating nature-inspired colors into your home decor. Consider adding touches of fresh greens, warm yellows, and calming blues to create a harmonious and lively ambiance. Refresh with Light and Airy Fabrics Replace heavy winter drapes and throws with lighter, airier fabrics. Linen and cotton are excellent ch ..read more

All good things come to an end, and tenant turnover will happen no matter how well things are going. Tenants who are renting single-family homes like the ones managed by The Real Estate Group typically fall into one of two categories:  1) those who are renting before purchasing a home of their own  2) those who are in the area for a limited time and don’t see a home purchase as a viable option.  Unless tenants buy the house they’re renting, sooner or later the landlord and/or property manager will be dealing with a turnover. In an ideal situation, tenants do everything their le ..read more

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Prospective clients frequently ask how many units a property manager can or should manage.  It's a reasonable question since the assumption is fewer properties managed means the property manager will be more available. However, it's a mistake to assume you'll have a better experience simply because a manager handles fewer rental units, as several factors influence a property manager's ability to deliver great service.  Firms can vary widely in how much they invest in property management and how they allocate resources to support property management versus other areas of the firm's b ..read more