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By Derek Dawson 14 Mar, 2024
The process of moving out can be a source of stress for both landlords and tenants. Landlords face challenges such as conducting property inspections, returning security deposits, and advertising rentals to find new tenants. Meanwhile, tenants are busy coordinating their move and packing, often leaving things behind unintentionally. One common issue for landlords after a tenant moves out is the continued receipt of mail addressed to the former tenant. This can include junk mail or packages, and dealing with it can be a source of stress. Thankfully, Dawson Property Management has provided the following guide to help you handle mail from previous tenants. Legal Considerations Regarding Mail from Previous Tenants It is imperative to familiarize yourself with various local and state laws, especially if you are a first-time landlord. This includes handling mail directed to former tenants. Opening or disposing of someone else’s mail without explicit consent is a serious transgression carrying legal ramifications. The privacy of mail is safeguarded by federal law. Violating this law, such as intentionally opening, destroying, or stealing mail not belonging to the recipient, can result in significant fines or up to five years of imprisonment. Offenders may also face civil lawsuits seeking damages.
What If Unpaid Rent Is More Than the Security Deposit
By Pam Nguyen 15 Feb, 2024
If your tenant's security deposit insufficient to cover unpaid rent? Here’s what the landlord should do!
Dawson Property Management will look into the challenges and benefits of investing out-of-state.
By 1946638 10 Jan, 2024
Landlords often invest in out-of-state properties for a variety of reasons. Investing in a state with a thriving economy and growing job market can lead to increased property appreciation, delivering long-term financial gains. Additionally, it can help you diversify your portfolio and reduce risk exposure. By spreading your investments across different locations, you can safeguard your assets against market fluctuations or economic downturns. Moreover, the favorable tax in certain states can be a driving force, as lower property taxes can significantly contribute to the overall profitability of an investment. So, the prospect of investing in out-of-state property presents both opportunities and challenges. In this article, Dawson Property Management will provide a clear understanding of the benefits and the challenges of investing out-of-state. This will help you approach this decision with careful consideration and a clear understanding of the potential benefits and pitfalls. Benefits of Investing in Property Outside Your Home State Diversification One of the primary advantages of investing in out-of-state property is diversification. Spreading your investments across different geographic locations can help mitigate risks associated with regional economic downturns or localized market fluctuations. Higher Returns In some cases, out-of-state markets may offer better returns on investment compared to local markets. Emerging markets with lower property prices may provide you with the potential for increased profitability.
By Pam Nguyen 12 Dec, 2023
Our management team at Dawson Property Management has put together this article to help you main long term and mutually beneficial tenancies.
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By Pam Nguyen 16 Nov, 2023
Our team of experts at Dawson Property Management have written this article to help you make a smooth transition from a part-time landlord to a full-time landlord.
19 Oct, 2023
​​Comprehending the pivotal role of move-out letters is essential for every landlord involved in property management. These documents serve as a linchpin for a seamless transition, demanding a high level of precision and thoroughness. In this article, our team at Dawson Property Management looks into the significance of move-out letters. We shed light on why they're indispensable and explore key details to equip landlords with the knowledge they need to navigate this critical aspect of property management effectively. This resource aims to empower landlords to optimize their practices and ensure legal compliance during lease terminations. What Is the Point of a Move-Out Letter? As a lease agreement nears its end, both parties face a critical decision: whether to terminate or extend the lease. If the choice is to end the lease, providing a notice is a legal requirement. Despite the existence of a termination date in the lease agreement, some landlords underestimate the importance of a move-out letter. It's important to note that state laws may necessitate providing tenants with an official notice of termination.To prevent potential complications, we recommend taking a proactive approach by thoroughly acquainting yourself with local and state laws and incorporating relevant clauses into your lease agreements.
By Derek Dawson 19 Sep, 2023
Are you a landlord wondering what you should use as your pet screening process? We've put together a guide to help!
17 Aug, 2023
Learn about the options for getting loans and funding to invest in rental properties from the real estate experts at Dawson Property Management.
12 Jul, 2023
As a landlord, improving your tenant retention ratio is key to maximizing your rental income. You see, when you are able to retain tenants for much longer, you’re able to save on many costs, including vacancy, advertising, and screening costs. Consequently, this means that you are able to shield your bottom line from potential losses . But while renewing a lease for another term seems like a no-brainer, make sure to do your due diligence. Rushing into a lease renewal can lead to certain potential issues down the line like holdover tenants . And that’s where renewal screening checks come in! They are an easy way to protect yourself from costly disputes, drawn-out issues with residents, and even possible evictions. By conducting a renewal screening check before lease signing, you’re able to see how a tenant has fared over the duration of their stay. As such, you are able to make an informed decision on whether or not to continue leasing to the tenant. Be that as it may, screening tenants multiple times can raise certain questions. Is the exercise even worth the effort? Would screening the tenant again damage the existing relationship you have built with them? Luckily for you, this post is here to address every concern you may have regarding renewal screening checks. The following is everything you need to know in this regard. Benefits of Renewal Screening Checks It can be quite understandable for a landlord to skip a renewal screening check in certain situations. Especially, if the tenant has always paid rent on time, cared for their rented premises, and adhered to all lease terms.
By Derek Dawson 04 Jun, 2023
Investing your money wisely is crucial for achieving long-term financial growth and security. While the stock market has traditionally been a popular investment option, real estate offers a range of unique advantages that make it…
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