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PROPERTY MANAGEMENT BLOG

5 Bookkeeping Tips for Hampton Roads Real Estate Investors

5 Bookkeeping Tips for Hampton Roads Real Estate Investors

By Lisa Doud MPM® RMP® Friday, December 31, 2021
Bookkeeping is critical for organizing your real estate investment finances. It is the process of collecting and streamlining financial data related to the asset and maintaining a record of the profits (the positive ROI) and the losses (the negative ROI).Bookkeeping enables you t...
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Best Practices for Managing Parking at Your Norfolk Multifamily Property

Best Practices for Managing Parking at Your Norfolk Multifamily Property

By Lisa Doud MPM® RMP® Friday, December 24, 2021
Parking space issues are a common phenomenon in multifamily properties. Owners often receive complaints from tenants regarding insufficient space, unauthorized parking, unmarked spaces, and violation of parking rules.The situation can become a source of serious conflict between o...
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When Should a Landlord Hire a Lawyer? Norfolk Property Management

When Should a Landlord Hire a Lawyer? Norfolk Property Management

By Lisa Doud MPM® RMP® Friday, December 17, 2021
At times, landlords may run into disputes with tenants over multiple issues. While some conflicts get resolved quickly, others may stretch out and turn into legal tussles. These issues can impact your reputation as a landlord and cost you a fortune if not handled well. In such sc...
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When Should I Sell My Portsmouth Rental Property? 4 Signs It's Time

When Should I Sell My Portsmouth Rental Property? 4 Signs It's Time

By Lisa Doud MPM® RMP® Friday, December 10, 2021
Renting a property is a promising source of passive income, but what if your rental no longer serves the purpose? In such situations, you might wonder if you should sell your property, and when. You may also be considering selling the house if you want to buy a primary residence,...
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5 Rules to Follow When Purchasing Appliances for Your Norfolk Rental

5 Rules to Follow When Purchasing Appliances for Your Norfolk Rental

By Lisa Doud MPM® RMP® Friday, December 3, 2021
If you have ever purchased appliances, you must be aware of the immense research that goes into making the right choice. The buying process can grow even more complicated when you'll be purchasing for your tenants rather than for yourself. Here are a few basic rules to follow...
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Can You Make More Money If You Have a Duplex on a Norfolk Common Water Meter?

Can You Make More Money If You Have a Duplex on a Norfolk Common Water Meter?

By Lisa Doud MPM® RMP® Friday, November 26, 2021
Duplexes in Norfolk are usually used as an additional income source by leasing out the additional unit to tenants. While signing the lease, the basic maintenance and upkeep of the property are mentioned. However, the cost of utilities and bills can be an issue sometimes.Water met...
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Ways to Earn More Money from Your Norfolk Duplex

Ways to Earn More Money from Your Norfolk Duplex

By Lisa Doud MPM® RMP® Friday, November 19, 2021
Owning any multi-family real estate can be really beneficial to generate additional income, especially in the current real estate market. One of the most popular housing choices in the Norfolk area is buying a duplex. Duplexes provide enough space for a large family, as well as p...
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How a Pet-friendly Property Can Attract More Portsmouth Renters

How a Pet-friendly Property Can Attract More Portsmouth Renters

By Lisa Doud MPM® RMP® Friday, November 12, 2021
Owning a pet-friendly property can be an asset. It can attract more Portsmouth renters than houses that don't allow pets. Approximately 46 percent of tenants in the United States own pets, thus driving the demand for a pet-friendly rental property.Additionally, offering a few...
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Tips to Reduce Vacancy in Your Hampton Roads Rental

Tips to Reduce Vacancy in Your Hampton Roads Rental

By Lisa Doud MPM® RMP® Friday, November 5, 2021
Vacant rentals can be a major cause of distress for any property owner as many landlords rely on their rental income to pay their mortgage and taxes. Managing the costs of maintenance, repairs, advertising, and conducting the tedious tenant screening process over and over till th...
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How to Protect Your Norfolk Rental Property from Extreme Weather

How to Protect Your Norfolk Rental Property from Extreme Weather

By Lisa Doud MPM® RMP® Friday, October 29, 2021
The state of Virginia is often prone to extreme weather conditions. Tropical storms, floods, wildfires, tornadoes, blizzards, hurricanes, winter storms, and landslides are disastrous but common weather conditions in Virginia. Stormy snowfalls can occur any time, along with flying...
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