In the context of residential leases, it’s important to distinguish between a tenant and an occupant, as these roles come with different responsibilities and rights. Who is a Tenant? A tenant is an individual who has entered into a formal agreement, often a lease, with a landlord. This agreement outlines the tenant’s responsibilities, which typically…
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Including floor plans in sale and lease listings is a topic of debate among landlords, sellers, and property managers, especially in Texas. While not traditionally popular in the state, the use of floor plans in listings has proven beneficial in other parts of the country and could offer advantages to property owners and managers. The…
Mold is a common issue in rental properties, especially in regions with high humidity like Houston, Texas. Excessive mold not only damages property but can also pose health risks to tenants. Here are some essential steps landlords can take to prevent mold growth in their rental properties. 1. Control Water Penetration Water penetration is one…
Determining the right time to increase rent is a crucial decision for landlords. It’s a balance between covering rising costs and maintaining a good relationship with tenants. Here’s a guide on when and how landlords should consider raising rent. Lease Renewal Period Typically, leases are for a 12-month period. The best time to consider a…
Understanding how to report rental income is crucial for landlords. The method you use can vary depending on how you own your rental properties and your specific tax situation. Here’s a breakdown of the most common ways landlords report rental income. Reporting Rental Income on Schedule E Most landlords own properties either as a disregarded…