Monitor Utility Bills to Prevent Property Liens
​The Threat of a Property Lien - utility providers and trash services can put a lien on your property if their bills are not paid!  If these bills at your rental property do not get paid, even if they are in the tenant’s name, the service providers can still put a lien on the property for the debt.

​To become a successful real estate investor, follow the ensuing rules of success.   

​Landlords must meet obligations specified in the lease and guaranteed by state law. Obligations require a landlord to have complete access in accordance with state’s landlord–tenant rules.    

​A common issue between tenants and landlords is the amount of the deduction that the landlord has taken from their security deposit.  As a landlord there are specifics that you can do to alleviate these problems

​How you run your rental business, will impact if the business is successful, or due to fail.  The successful investor will have an operation manual which will qualify their operating procedures and help to keep them out of trouble by making autonomous decisions.

Important Strategies That Investor Can Use Include
Logging in the date the property was placed in service.  When you first purchase a rental property, it will be considered “placed in service” on day one if there is a tenant in the property.  If there is no tenant, then the property is not in service

​Although every state is different, there are acceptable reasons for keeping all or a part of a tenant’s security.

​Real estate investors are always puzzled on the question of deductible expenses.  The simple answer is to have an accordion file with vanilla files that you keep all your like receipts banded together.  You should also create a ‘special file’ named UNKNOWN.  In this file you will keep banded together everything you question for presentation to your quarterly meeting with your accountant team member.

There is only one ‘for instance’ that you should accept a partial rent payment from a tenant.  That is when the tenant has been renting from you for several years, and has never been late, then you might want to give this outstanding tenant a chance to catch up and let them make a partial rent payment on the due date for one time only.  This tenant has proven to be trustworthy!

Once you have placed your rental property into service, you will need to determine whether repairs and maintenance expenses that you incur should be classified as a regular expense or a capital improvement.