What Exactly Is "Normal Wear and Tear"?
As a landlord, your rental property is bound to experience some type of damage during a tenancy. This damage can either be normal wear and tear or excessive damage. However, it may not always be easy for you to differentiate between the two types of rental damage. Consequently, you may end up in a conflict with your tenant in regards to the return of their security deposit. Luckily for you, in today’s article, you’re going to learn everything you need to learn about rental property damage! What Does the Term “Normal Wear and Tear” Mean? Norm…
6 Best Renovations for Your Rental Property
A rental vacancy is a threat to any landlord. After all, how are you going to be a landlord if you’ve got no tenant to rent to? Finding and retaining tenants is an important skill for landlords to have. But equally important is being able to provide tenants with a comfortable, functional, and attractive property. And that’s where rental renovations come in! The best rental renovations are those that invest in the interest of the tenants while ensuring you reap a great ROI. The following are the best renovations for your rental property for thi…
Michigan Fair Housing Act: an Overview
The Fair Housing Act came into law in 1968, necessitated by the rampant cases of housing discrimination that existed at the time. Now, thanks to the Michigan Fair Housing Laws, landlords carry many responsibilities. We at Nelson Property Management have put together this a basic overview of the Michigan Fair Housing Act so all landlords understand their basic responsibilities and avoid discrimination based behaviour. The Protected Characteristics in the State of Michigan Michigan Fair Housing and Civil Rights Act came into existence …
How to Attract Long-Term Tenants
Long-term tenants are good for any landlord’s bottom line. Not only do they guarantee consistency in rental income, but they’re also the caliber of tenants that will care for your property like they would their own. Attracting a long-term tenant isn’t a walk in the park, though – especially in a competitive rental market like Metro Detroit. But is it impossible? Not at all! All you require is the right strategy. The following are tips on how you can attract a long-term tenant for your rental property. 1. Market Your Property On a Continuous …
Renting Out Your Home in Metro Detroit: Everything You Should Consider
Are you contemplating renting out your Metro Detroit home? If you are, that can be a great move! Currently, Metro Detroit is an excellent place to invest in for both cash flow and property appreciation. The population is increasing, the market is doing great, and home values are rising. There is a lot that goes into renting out a home, though. It’s not as easy as putting it up on a few listing sites and waiting for interest to come in. Now that you’ve decided to rent out your Metro Detroit home, here’s everything you need to know to make it a…
