The Real Cost of Property Management: Fees, Hidden Costs, and Alternatives

The Real Cost of Property Management: Fees, Hidden Costs, and Alternatives

By Chad Gipson October 6, 2023Features, Investors, Landlords

Property owners often contemplate whether hiring a property management company is the right decision. While doing so brings a host of benefits, it's essential to understand the range of fees associated with their services. Furthermore, knowing about alternative solutions, such as hybrid property management, can guide property owners toward sustainable profitability and less stress in managing their rentals.

Using PortfolioBay’s Rental Property Calculator: A Comprehensive Guide

By Chad Gipson August 11, 2023Features, Product

PortfolioBay offers the premier rental property calculator for astute property investors. This free and user-friendly tool is designed to swiftly calculate essential financial metrics, providing you with a clear insight into a property's profitability and risk. In this step-by-step guide, we'll show you how to maximize this calculator, interpret each financial metric, and leverage the results to inform your investment decisions.

Profitability Comparison: Long-term vs Short-term Rentals

By Chad Gipson July 24, 2023Investors, Landlords

The real estate market presents several avenues for income, two of the most common being long-term and short-term rentals. Both strategies carry distinct benefits and challenges that can significantly affect their profitability. Understanding these factors can help landlords and investors make informed decisions that align with their financial goals and management style.

Best Practices for Tenant Screening: Ensuring Reliable and Responsible Tenants

By Chad Gipson June 28, 2023Investors, Landlords

Tenant screening is a critical process for landlords and property managers that allows them to select tenants who are reliable, responsible, and financially stable. By implementing best practices for tenant screening during a turnover, property owners can minimize risks, maintain a harmonious rental community, and protect their investment. This article provides an in-depth exploration of the key best practices for tenant screening, including the application process, background and credit checks, employment and income verification, rental history verification, reference checks, interviews, consistent screening criteria, documentation, legal compliance, and the importance of trusting one's instincts.

Exploring Landlord-Friendly States: Factors and Examples

By Chad Gipson June 16, 2023Investors, Landlords

When it comes to investing in rental properties, landlords seek states with favorable laws and regulations that protect their rights and provide a conducive environment for their businesses. These landlord-friendly states often offer streamlined eviction processes, strong property rights, and a pro-business climate. In this article, we will delve into the factors that make a state landlord-friendly and highlight some examples of such states.

Real Estate Syndication: Unlocking Investment Opportunities and Maximizing Returns

By Chad Gipson June 14, 2023Investors

Real estate syndication has emerged as an effective strategy for investors to pool their resources and access lucrative real estate projects that would otherwise be out of reach. By combining capital, expertise, and resources, real estate syndications provide a pathway for individuals to participate in larger-scale investments and diversify their portfolios. In this article, we will explore what real estate syndication is, how it works, the typical deal structure, and the fundamental math involved in underwriting a syndication deal.

Airbnb vs. Long-Term Rental: Exploring Pros, Cons, and Profitability

By Chad Gipson June 13, 2023Investors, Landlords

The decision between running an Airbnb rental or opting for a long-term rental strategy is a crucial consideration for property owners. Both approaches have their unique advantages and disadvantages, as well as varying profitability potential. In this article, we will delve into the pros and cons of Airbnb and long-term rentals and analyze the profitability of each option.

Pros, Cons, and Risks of Using Seller Financing for Investment Property Purchases

By Chad Gipson June 12, 2023Investors

Seller financing is an alternative financing option that allows buyers to purchase investment properties directly from the seller, bypassing traditional lenders. While it can offer advantages, such as increased flexibility and access to financing, there are also potential drawbacks and risks involved. In this article, we will explore the pros, cons, and risks associated with using seller financing for investment property purchases, empowering investors to make informed decisions.

Common Mistakes Landlords Make When Drafting a Lease Agreement: How to Avoid Them

By Chad Gipson June 11, 2023Investors, Landlords

Drafting a comprehensive lease agreement is crucial for landlords to establish clear expectations and protect their interests. However, many landlords make common mistakes during this process, which can lead to legal issues, disputes, and financial repercussions. In this article, we will explore the most common mistakes landlords make when drafting a lease agreement and provide practical ways to avoid these pitfalls. By understanding and implementing these strategies, landlords can create well-crafted lease agreements that foster positive landlord-tenant relationships and minimize potential risks.

Finding a Suitable Agent for Real Estate Investing: Avoiding Common Mistakes

By Chad Gipson June 11, 2023Investors

When it comes to real estate investing, partnering with a suitable agent is crucial for success. An investor-friendly agent possesses the expertise, market knowledge, and connections necessary to navigate the intricacies of the investment landscape. However, many investors make mistakes during the agent selection process, leading to subpar experiences or missed opportunities. In this article, we will explore the essential steps to find a suitable agent for real estate investing and highlight some common mistakes investors should avoid.