How to Manage Rental Property

Though at face value it seems like an easy enough job, the truth is that there's more to managing rental property than simply showing up at your tenants' doorsteps and collecting their rent each month.

So what exactly does managing rental property entail?

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Rental property managers are usually involved with a number of tasks. These tasks mostly have to do with complying with local building codes, making sure tenants are taken care of and keeping up to date with the local housing market.

Know Your Local Laws

Because of the fact that managing property is more complex than just watching over things, landlords must be knowledgeable with local laws that encompass all aspects of renting and leasing. Among these are ensuring the clarity of the terms of any contract, whether it's a lease or a rental to make sure that there are no ambiguous clauses that would become difficult to interpret.

When drafting leasing agreements, it is also important that a landlord is able to create uniformity for the local area that will enable tenants to lease on a short term or long term basis depending on their needs.

Aside from creating clear and standardized leasing agreements, a landlord must also understand the legalities of eviction when tenants who signed those agreements fail to live up to their end of the deal. Evicting tenants is not as easy as most people think because of the laws regarding eviction that landlords need to follow before tenants can be lawfully evicted. For one, landlords are required to issue formal requests for payment before they can issue an eviction notice. Aside from this, some areas require waiting out a six-weed span between the issuance of the notice and the actual eviction. This is to make sure that the tenant has some time to dispute the notice. Again, since these are local laws, they vary from area to area and city to city.

Maintenance

Another important task that a landlord must be able to do is to maintain the rental property through regular repairs and upgrades. This includes repainting walls whenever a unit gets vacated, refinishing floors and replacement of carpets. Some of these tasks required for general upkeep must be done on a regular basis as a form of prevention, while some are done to address specific concerns regarding the upkeep of the property and are only done when necessary, as happens when tenants complain of maintenance problems in their units.

Some concerns that require immediate attention regarding maintenance are clogged pipes, faulty plumbing, heating and the like. If addressed properly, it will become easier for the landlord to create a well-managed rental property.

Keep your tenants happy

In general, a good property manager will be able to keep his/her tenants happy if they are able to do the aforementioned tasks responsibly and if they respond to their tenants' concerns in a timely manner. Maintaining open lines of communication between tenant and manager will also go a long way in improving conditions within a rental property environment.

How to Manage Rental Property

Compare property management companies by reading independent property management reviews given by landlords and tenants.

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How To Start A Party Rental Company

I'm sure you've seen moonbounces at various parties & events. Perhaps you've even rented one. But have you ever thought about the financial windfall that can come with owning a couple of the units?

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Moonbounces rent for anywhere from .00/day on the west coast to 0.00 & up in other parts of the country. Here in Indianapolis, we rent ours for around 5.00 for four to six hours. So...if you charge 0.00 for your rental, you can make an extra 0.00 per week in income.

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Of course, there are some expenses that come with the rental. You'll need a truck or a small trailer. A good dolly, extension cords, business cards, insurance and other small business items. Most people who start up a rental company do the deliveries and bookings themselves. That's the joy of it. You work when you want to....not when you're told to. On the other hand...the downside is that if you want the income you might as well accept that it's going to be there on the weekend and that's when you'll be working.

The most expensive part of inflatables is the insurance. Insurance tends to get cheaper as you insure more units but the start up can be a bit tough. The average moonbounce costs around 00.00 with the insurance running another 0.00. So...you can start up with one bounce for around 00.00. At a rental rate of 0.00 you'll have your expenses and covered in less than twenty rentals. Of course...if you charge what we do, you're unit & costs will be paid for in about ten to twelve rentals.

Moonbounces aren't the only thing you can rent. We started five years ago with two moonbounces and now have over fifty interactive games. Jousts, Giant Slides, Obstacle courses, video games, casino equipment and fun foods. So, as you can see the business will grow as large as you want it to. About the only way to fail is to purchase the equipment and leave it in your garage. Inflatable moonbounces and other inflatables are their own best advertisement.

To get going on your new business you just need to follow these simple steps.

1) Talk to your state and local boards to find out what is necessary to open your own inflatable rental business. Some states have restrictions on what you can do.

2) Start talking to suppliers. Search the web for "moonbounce" or "interactive games"

3) Ask the suppliers to give you insurance info. Do NOT make a purchase until you've secured insurance.

4) Once you have insurance locked up, place your order.

5) While you're waiting for your equipment, get some fliers made up, business cards and a dedicated phone number. Tell EVERYONE about your new business.

6) Although you're starting to advertise, it's not recommended to book your units before they arrive. That's just asking for trouble.

7) As soon as your equipment arrives, inspect it for damage before the delivery truck leaves. Make sure it's all there (most units are sold with a blower).

8) Blow up your equipment and get familiar with it. Sit it in your yard or a friends yard and let the kids play. The more it's seen the more people will want it.

Pretty simple, isn't it? Of course I just touched on the steps but it's not much more complicated than that. If you join the Party Rental Industry you'll be sharing fun with everyone. And that's a great way to make an income.

How To Start A Party Rental Company

Cheryl Pierce is the President of PartyZone Entertainment and has spent the last fifteen years helping companies start up and expand their Party Rental Companies. She and her husband also own and operate their own party rental company in the Indianapolis area. If you would like her in depth FREE booklet on starting a rental company you can get it by visiting http://www.partyzone-sales.com If you'd like more information you can email her: cheryl@partyzone-entertainment or call their sales department 317-838-9406

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Hourly Truck Rental

When it comes to renting a truck, there are a number of factors you need to consider. But did you every realise that hourly truck rental could be the best option for some situations? This service, instead of charging you by the day, adds up the cost by the hour - useful in a wide range of circumstances as a way of saving money.

There are a number of reasons why you might choose to opt for hourly rental services, but by far the most common is simply as a way of transporting items from one location to another. Whether you are doing so for business, or are simply moving house, you can usually organize your move so that it only takes a couple of hours to get everything unloaded. This is especially useful for those who are moving home across a short distance.

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When looking for this service, not all companies will offer hourly rental so it pays to take your time to do your research. You should also consider just what kind of truck you will need, as the size and weight of the items you need to transport could also alter the cost of your rental. All rental trucks come with maximum load limits. Make sure you work out these factors before looking for quotes.

When it comes to hourly truck rental, be sure to check the terms and conditions carefully so you know just how much it costs each hour, and how long you will have to return your truck after use. If you are good at time management this option can save you some serious money!

Hourly Truck Rental

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