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Lease Renewal Letter to Tenants

Below is a short post sharing the letter to our tenants about their upcoming lease renewal.  In this instance, the rent amount did not change. Update - you might also appreciate these other examples of renewal letters - one emphasizing the market rate of comparable rents and one emphasizing the hassle and costsRead More
Repair or Replace a Rental Property Appliance?

Repair or Replace a Rental Property Appliance?

A Failing Fridge Our tenant mentioned her refrigerator seal needed to be replaced... Me: *opens door* Where is your refrigerator door shelving? Tenant: We've never had any.  Also, the crisper doors pop off if you put anything in them. Me: That is a problem... Tenant: The ice maker stopped working a long time ago.  We told the previous owner,Read More
Report: Effects of Trees on Rental Rates

Report: Effects of Trees on Rental Rates

Courtesy of Consumerist.com, I stumbled upon a 2010 report on the effects of trees on rental values. While there were other motivations for planting the tree from our wedding ceremony, I do plan to add more in the future to improve the property overall. "A new study by the U.S. Forest Service found that planting trees alongRead More
Tree Ceremony and Rental Property Improvements

Tree Ceremony and Rental Property Improvements

The Wedding Tree Ceremony We were married last month, and during the planning process our officiate suggested we make the ceremony longer - apparently I took my abhorrence for mushy wedding stuff a little too far.  I found a tree planting ceremony online, which fit well with our park-setting.  The tree ceremony is essentially a metaphor on the nurturing of marriage: "Like this tree, marriage must be resilient. It mustRead More
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Choosing an Investment Property to Purchase

Q: I’m an aspiring investor looking for my first property. Lately I’ve been frustrated because I can’t seem to find properties that meet my criteria AND generate the cash flow I’m looking for. Could you share your experience of how you found your first property? Glad to be of service!  ThisRead More
Preparing Rental Property Taxes: The Good, The Bad and the Ugly

Preparing Rental Property Taxes: The Good, The Bad and the Ugly

Tax preparation for our investment property has always been intimidating to me.  Lots of things weren't in my favor: decoding depreciation vs. deductions, repairs vs. improvements, 1-time expenses incurred while purchasing the property, and 50/50 ownership (and income distribution) between myself and my fiancé.  But being a do-it-yourself kind of individual, I was determined to put on myRead More