The Law: What You Don’t Know Can Hurt You

The fifth and final basic element of property management is the law and your duty as a rental property owner to observe the applicable laws. All the aspects of the rental property business that we have discussed so far—the owner, the property, the tenant, the...

You’re in the Rental Business to Make Money… Right?

In our last post we discussed the tenant, the third basic element of property management. Continuing, the fourth basic element is the money.  We began the last post by writing, “In any business the aim is to make money”, and then we addressed the importance of serving...

Your Tenant is Your Customer

We are considering the five basic elements of property management and in our last post we discussed the rental property itself. Continuing, the third basic element of property management is the tenant.  In any business the aim is to make money by offering something...

Your Rental Property Is Your Business Product

We are considering the five basic elements of property management and in our last post we discussed the property owner. Continuing, the second basic element of property management is the rental property. We are used to thinking about the steps involved in preparing a...

If You Own Rental Property, You Own a Business

The first basic element of property management is the property owner. There is no need of property management until someone builds, buys, or inherits a piece of real estate that will be leased to someone else. This acquisition of property may be intentional, as when a...