We have been talking at length about how landlords are supposed to make capital improvements with the St. Paul rent cap. If you can only raise rent by 3% each year and you charge $1000 for rent, how can you replace the kitchen cabinets for $2000 … [Read more...]
Hold Over Tenants
What are hold over tenants? I wrote what to do if you tenant won't leave a number of years ago. It is time to refresh and expand that discussion. A hold-over tenant may be called different things in different jurisdiction, but it is when a … [Read more...]
Appliance Service Plan or Not?
I have come across many examples of landlords that require, in their lease, that the tenants carry an appliance service plan on the furnace, water heater, and kitchen and laundry appliances. In Minnesota, this is called Centerpoint Energy Service … [Read more...]
Investment Property Maintenance Tricks
Investment property maintenance tricks can make your life easier saving you time now and later. I have not been posting much lately as I have been buried with multiple apartment turnovers. As I mentioned previously, several years ago, I moved many … [Read more...]
Frozen Minneapolis Foreclosures
The weather has really been rough here in lately for Minneapolis foreclosures. If it is not snowing, the temp is below zero! It makes it rough on showing houses. The cold weather also takes its toll on foreclosed vacant houses, especially ones … [Read more...]
Stupid Property Repairs #1
I have always preached that if you are going to do a repair on your investment property, do it correctly. You don't need to put in top notch materials, but do it right. When you skimp and try to get by with a cheap repair, you are always going to be … [Read more...]
New Water Heater Regulations
The federal government has imposed new water heater regulations that will hit property owners in their wallet. Starting in April 2015, all new water heaters must be anywhere from 3%-30% more energy-efficient. To comply with these new federally … [Read more...]