Guide to Making a Solid Lease Agreement for Your Rental Property

Guide to Making a Solid Lease Agreement for Your Rental Property

A lease agreement is a contract that is legally binding and is made between a tenant and a landlord. It emphasizes the responsibilities and rights of each party. It is limited in duration (usually a year). It's important that you make a solid lease agreement as a landlord since it will greatly affect the outcome of your rental property experience. A good lease agreement is as detailed as possible and includes pet policies, lease terms, subleasing, rent terms, and occupancy limit. In more detail, here are things to consider when creating a soli…

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How to Attract Long-Term Tenants

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 …

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Renting Out Your Home in Metro Detroit: Everything You Should Consider

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…

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Water Damage in Rental Properties

Water Damage in Rental Properties

Winter is coming. Are you ready? When the temperatures begin to drop and the snow and ice start to fall, properties can take the toll and bear the brunt of the damage. There are several advantages to living in a rental property, including maintenance being the responsibility of your property management company. But there are still steps you should take to avoid disaster and property damage. Have you inspected your rental property’s exterior lately? Whether you are in a single-family rental, townhome complex, apartment, or even a commercial sp…

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Breaking a Lease in Metro Detroit MI - Know the Laws

Breaking a Lease in Metro Detroit MI - Know the Laws

Most landlords in the state of Michigan require their tenants to sign a lease before they can move in. A lease first must aheresto the Fair Housing Act making it legally binding and holding both parties liable to the lease terms for a certain period of time that’s usually a year. At the very least, this means that a tenant must continue paying rent for the entire period the lease will be active, regardless of whether or not they live there. Things like evictions or breaking a lease, however, can be a wild card. Now, learning that your tenant …

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