Everything you own requires maintenance. This helps slow down the normal wear and tear of a possession. The same goes for owning a rental property. You’ll want to put in the necessary effort to maintain and elevate your property’s value. This ensures that you keep attracting tenants, and inspire current ones to renew their leases […]
Just like in other states, squatters in Virginia have certain rights. They may be able to file an adverse possession claim, which gives them full legal rights to the property they’re squatting on. Among the requirements required for filing an adverse possession claim is continuous possession. As per the Code of Virginia (§ 8.01-236,237), squatters […]
Most landlords in Virginia require their tenants to sign a lease or a rental agreement prior to moving in. A lease binds both the landlord and the tenant for a certain duration of time. Within that time, both parties must abide by certain terms and conditions. Breaking a lease occurs when a tenant moves out […]
Although not required by law, most Virginia landlords ask their tenants to pay a security deposit. Basically, the security deposit acts like a safety net against any financial ruin that can arise during the tenancy period. For example, as a landlord, you may be able to use part or all of your tenant’s deposit in […]
Accepting pets in your rental property can be a great financial decision. Many property owners immediately refuse the idea of allowing pets in their rental because of the risks that come with that decision. However, there are many benefits of renting to pet owners that may outweigh the drawbacks. Not to mention, there are things […]
As a landlord, you likely choose neutral paint shades when painting your rental units. Neutral shades are often less costly and easier to match different furnishing. Neutral shades are all-around a great idea! However, sometimes, your tenant may approach you to request a change in paint color. In such a case, what would you do? […]
Are you considering renting out your Roanoke, VA rental property? As you probably know, owning a rental property can be an incredible way to earn passive income and build wealth. That said, being a property owner entails more than just collecting rent every month. In this post, we are offering proven tips to help you […]
With any rental property, some type of damage is inevitable. However, not all rental property damage is alike. Some damage is due to ‘normal wear and tear,’ while other damage is due to tenant negligence. As a property owner, you can’t make deductions from a tenant’s security deposit for normal wear and tear. In the […]
Are you planning to buy investment properties in Roanoke? Roanoke is one of the best areas to invest in in Southwest Virginia. In fact, it’s the region’s largest Metro Area and commercial hub. This means there are many job opportunities and housing options. As with any other real estate investment, you should analyze the local […]
As a landlord, you’re likely very familiar with tenant property damages. Typically, property damages are a result of tenant negligence and abuse. Although property damages are common, there are steps you can take to reduce or limit your chances of having tenants damage the property. This will help you save money in the long run […]
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