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How to Budget for Utilities and Hidden Rental Costs

Real Property Management Evertrust

From utilities and security deposits to holding the proper insurance, spending can quickly add up. This deposit isn’t similar to rent; it is held in a separate account by your landlord. The goal of a security deposit is to protect the landlord from financial problems in the event of property damage or other expenses.

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What Happens If Someone Gets Hurt on Your Rental Property?

Bay Property Management Group

As a landlord, you need to be prepared. In the meantime, your tenant’s renter’s insurance can help cover the costs. Get ready for insurance claims If anyone gets hurt because of something you did or didn’t do with the property, they might file an insurance claim against you.

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Do I need landlord liability insurance? key benefits and tips for adequate coverage

MRI Software

Landlords may face various liability risks, from tenant injuries to property damage claims. Without the right protection, landlords could encounter costly lawsuits and unexpected expenses that threaten their investment. This guide will cover what landlord liability insurance is, why its essential, and the key benefits it offers.

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Lessor vs. Lessee: How Are They Different?

Bay Property Management Group

They both come from leasing; a lease agreement where one person lets another use their property in exchange for payment. For instance, if a landlord rents out an apartment, they’re a lessor making a rental agreement with a tenant (lessee). A lessor is one of the most critical real estate terms. utilities).

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What Is a Master Lease in Real Estate, Answered

Bay Property Management Group

A master lease is a contract agreement that lets lessees control a property for an agreed period, even though they don’t fully own it. But the actual ownership stays with the landlord. Essentially, the lessee is running it like their own business during the lease term. Now, what about property taxes?

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Are Pet Deposits Refundable? What You Need to Know

Bay Property Management Group

Thats why landlords often ask for pet depositsto protect their property in the event Fido goes a little too far. Pet deposits are basically a landlord’s safety net, a form of informal “insurance.” Pet deposits are basically a landlord’s safety net, a form of informal “insurance.”

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What Are Leasehold Improvements in Rentals?

Bay Property Management Group

Sometimes, to make accommodations for the property, the landlord may need to make certain changes that help the leaseholder feel more comfortable. These improvements are often considered capital assets and may require landlord approval, licensed contractors, and lease review before starting.