Remove 2015 Remove Insurance Remove Tenant
article thumbnail

Should You Convert Your Primary Home Into a Rental Property?

Authority Property Management

Generate Passive Income and Build Long-Term Wealth Renting out your home can create a steady stream of passive income, which can help cover the mortgage, property taxes, insurance, and maintenance costs. This means that having a tenant in your current home could help you qualify for a more expensive or desirable primary residence.

article thumbnail

The 5 best rental markets in Illinois for investors & property managers in 2025

Buildium

The state has experienced consistent net outmigration since 2015, particularly in small towns and rural areas, a trend that only accelerated during the pandemic. Investors and property managers should keep in mind that with unemployment and poverty rates remaining elevated in Kankakee, they could face tenant quality challenges.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Are Your Properties Compliant with Law and Code Enforcement

American Apartment Owners Association

Delays in compliance could lead to legal actions from homeowners, insurance complications, and costly emergency repairs. In the wake of tragic balcony collapses, such as the 2015 Berkeley balcony failure , California legislators enacted Senate Bills 326 and 721 to prevent similar disasters. Understanding SB326 and SB721: What Are They?

article thumbnail

When Is the Last Time You Raised the Rent?

Authority Property Management

Why Small, Annual Increases Are Best for You and Your Tenants As a landlord or property owner in Redding, CA, when was the last time you raised the rent on your tenants? Many property owners hesitate to increase rent, either because it feels awkward to bring up or because they worry it might push good tenants out the door.

article thumbnail

Alabama HOA Laws: A Guide to Homeowners’ Rights and HOA Powers

HOA Managememt

Alabama Homeowners Association Act (2015) Effective January 1, 2016, Alabamas Homeowners Association Act governs homeowners associations created after that date. It also regulates budgeting, insurance, maintenance obligations, and voting rights. In cases involving tenants (e.g.,

article thumbnail

Million-Dollar Lawsuits and the Real Price of Skipping Balcony Inspections

American Apartment Owners Association

Location Year What Happened Casualties Payout / Verdict Berkeley, CA 2015 5th-floor balcony collapse 6 dead, 7 critically hurt ≈ $20 M+ (partial + confidential) San Francisco, CA 1998 4th-floor balcony collapse 1 dead, 1 permanent brain injury $12.39 Smaller HOAs can’t absorb that hit—nor can most landlords.

article thumbnail

Mitigating Investment Risks in Multifamily Real Estate

American Apartment Owners Association

Practice proactive risk management strategies like robust tenant screening and maintenance plans. Prioritize tenant relationships for enhanced property performance. Implement proactive risk management strategies like robust tenant screening and preventive maintenance. To start, robust tenant screening processes are vital.