Evernest Property Management Blogs

Managing the finances associated with being a landlord requires organization and attention to detail. Whether renting out a single unit or multiple properties, understanding the fundamentals of accounting for landlords is essential for maintaining financial stability and maximizing returns on a rental property.

As a landlord, the desire to minimize vacancy gaps and swiftly move in new residents is understandable. But rushing the process without conducting a thorough pre-move-in walkthrough can lead to situations all landlords would like to avoid. A pre-move-in inspection, often overlooked in the haste to fill rental properties, is an essential safeguard for both landlords and residents! This inspection offers landlords an opportunity to assess the condition of their property before bringing in new residents, documenting any existing damages or issues, and determining any maintenance needs. While the temptation to expedite the move-in process is strong, prioritizing a comprehensive move-in inspection can ultimately save landlords from potential disputes, financial losses, and even legal complications down the line.

Eviction is one of the most intimidating and complex parts of being a landlord. The eviction process can be particularly daunting due to its multifaceted nature, involving legal intricacies, potential financial implications, and the emotional toll it can take on everyone involved.

A residential rental agreement, or just rental agreement, is an essential legal document that outlines the rights and obligations of both landlords and residents during a resident’s stay in a rental property.

If you’re a property owner getting ready to put your home up for rent, you may be thinking “what do I need to do to successfully rent my house?” Preparing to rent your home is an exciting but often overwhelming time for property owners. That’s because there’s usually quite a bit to do before your home is rent-ready. But don’t worry! We’ve rented thousands of homes over the years, so we have a wealth of knowledge. Let’s dive into how exactly you can get your home ready for new tenants.

If you’re a landlord considering selling or renting your investment property, the topic of fair housing should be at the top of your list to understand. Violating fair housing laws and discriminating during the rental or sale process (whether knowingly or unknowingly) will greatly impact your reputation. Plus you stand to lose a lot of money if you are sued, lose tenants, or your property sits vacant. The Fair Housing Act (FHA), first established in 1968, greatly expanded and improved upon the protections put in place for buyers and renters. The FHA was then expanded several times since, and is now a key element to consider when selling or renting your property. So, let’s dive into the details.

“How much should I charge for rent?” It’s the question every property owner asks at the start of their journey. It’s also a question that doesn’t have a single straightforward answer. Instead, it depends on various factors specific to your property and situation. Luckily, as property managers with over 15 years of experience, we’re experts in pricing rental properties. That means we know just how to guide you toward the right price for your rental home. Let’s take a look at some of the core areas to consider when assessing your rental price:

In the world of property management, accounting plays a crucial role in ensuring the financial success of a company. Strong and effective accounting practices are essential for managing the financial health of both your clients and the business as a whole. In this article, we’ll explore various best practices for mastering property management accounting. That includes topics such as hiring the right accounting team, documenting accounting processes, utilizing fractional CFO and HR services, adopting property management software, measuring KPIs, improving cost management, and preparing for fluctuating real estate markets. Pro tip: We also discussed this topic in-depth during a recent episode of our webinar series. You can find a recording of that event here. Now, let’s dive in!

Whether you’re brand new to investing or a long-time pro, you may have found yourself wondering precisely why single-family homes are the best investment.The answer? Not only are they tangible assets that can appreciate in value over time, but utilizing them in a rental portfolio can bring in steady cash flow for many years to come. Of course, the right path for you depends on your individual investment goals. For example, if you’re looking for a high rate of passive income that is more consistent, have the time to dedicate to more property, and don’t mind the high price point, then a multifamily property might be a better fit for your portfolio.In general, though, single family homes tend to prove the best investment overall, and in this article, we’ll show you why.

If you’ve already started dabbling in real estate investing by way of purchasing and renting single-family homes, then a multifamily property investment is the next step in building out a robust, high-earning portfolio. A multifamily property includes everything from duplexes to small apartment complexes with less than 100 units. The biggest challenge to adding a multifamily property to your portfolio is management of the asset. Who will collect rent from your dozens of residents? Who will clean and maintain common areas, like pools, exercise facilities, shared hallways, and laundry rooms? This is where a company specializing in multifamily property management, like Evernest, can step in to make your income-producing asset a painless part of your real estate holding portfolio. But what exactly would you be paying for? Here’s just what you can expect an excellent multifamily property management company to do: