Each year, one of the best ways for landlords to compare their rental prices to other similar units the area is to review HUD’s Fair Market Rent data. Although that sounds intimidating, it’s really very simple. Annually, the US Department of Housing and Urban Development (HUD) reviews rental rates throughout the country and develops...
I recently received this question resulting from my article “NJ Landlords: Remember the Security Deposit Interest Deadline” : “I deposited a security to my own account instead of an escrow account. I know under such conditions the tenant could ask that their security be used as rent. However, they have to let me know...
Every year HUD publishes their FMR (Fair Market Rent) data. HUD (US. Department of Housing & Urban Development) uses this data to figure out what the standard payments are for their Housing Choice Voucher program, including Section 8 tenants. I think this provides a wealth of information for landlord who want to know if...
Normally, I post on issues that affect landlords all across the country(inclusive of the US, although many of the issues are probably similar in many other parts of the world). But, this one is specifically for NJ landlords and is an important reminder. Rent Security Deposit Act, N.J.S.A. 46:8-19 et seq.The New Jersey security...
These are actual excuses (modified slightly to protect privacy) that tenants have given me for being late with their rent. I thought it might be fun to share them with you (they are funny now, they weren’t quite so funny at the time). Please feel free to comment on this post with any additions!...
A landlord recently purchases a property with a vacant unit. Diligently, he advertises and weeds through a multitude of unqualified applicants (mostly due to lack of income, poor credit and/or them not showing up for their appointments). Finally, the landlord is contacted by a nice young couple who really wants the place… and even...
So, how can you figure out the monthly rent you should charge for your vacant single, duplex, triplex or apartment building? Like most property management decisions, it’s really part ‘art’ and also part ‘science.’ You will almost always find rents are in a particular range in a given area. This range may be tight...
This is often a big question for newbie landlords. It’s probably one of the most frequent ones that I get, too. Well, although there is not exact science on this one, hopefully these next couple of posts can shed some light on how to figure out how much rent you could charge for any...
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