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Self-Managing Your Rental Property vs. Hiring a Property Manager: What Owners Should Consider
Not every rental property owner needs a property manager. That may sound like an unusual thing for a property management company to say, but it is true. Some owners have the time, experience and interest to manage their own properties successfully. Others quickly...
Why Preventive Maintenance Matters in an HOA Community
A small roof leak. Cracking pavement. A drainage issue that only seems to show up after a heavy rain. None of these may feel urgent when they first appear. That is exactly why they are easy to postpone. For an HOA board balancing budgets, homeowner requests and...
Should You Renew the Lease or Find a New Resident? What Rental Property Owners Should Consider
A lease is coming up for renewal. The resident pays on time, takes reasonable care of the home and rarely calls with problems. Meanwhile, similar homes appear to be advertised at a higher rent. For an owner, the temptation is obvious: raise the rent substantially or...
What Rental Property Owners Should Budget for Beyond the Mortgage
A rental property can look great on paper. The rent is higher than the mortgage payment, so the numbers seem to work. Then the first repair happens. The property sits vacant between residents. Insurance increases. A water heater needs to be replaced. None of those...
Leasing a House in Detroit This Fall: What Renters Should Know Before They Move
Fall Can Be a Great Time to Make a Move in Detroit There is something about fall in Detroit that makes a new home feel especially welcoming. The temperatures are cooler, neighborhoods begin to change with the season, and there is still time to get settled before...
Understanding Rental Property Financial Reports: What Every Owner Should Review Each Month
Your Monthly Financial Report Is More Than a Statement - It's a Decision-Making Tool Many rental property owners glance at their monthly owner statement, confirm the deposit amount, and move on. While it's understandable to focus on cash flow, your financial reports...
How HOA Boards Can Prepare for Major Capital Improvement Projects
The Best Capital Projects Start Long Before Construction Begins Replacing roofs, resurfacing roads, updating clubhouses, replacing siding, or renovating common areas are some of the largest financial decisions an HOA board will make. Successful projects don't begin...
How New HOA Board Members Can Set Themselves Up for Success
Serving on an HOA Board Is About Leadership, Not Control Joining your homeowners association board is an opportunity to make a positive impact on your community. Many new board members volunteer because they care about protecting property values and improving where...
How Michigan’s Extreme Weather Impacts Rental Properties – and What Owners Can Do About It
Michigan Weather Is Hard on Rental Properties If there's one thing every Michigan property owner knows, it's that the weather never stays the same for long. One week may bring record-setting heat, while the next delivers severe thunderstorms or heavy rain. Before...
What Every First-Time Rental Property Owner in Southeast Michigan Should Know
Owning a Rental Property Is a Business - Treat It Like One Buying your first rental property is exciting. For many investors, it's the beginning of building long-term wealth. But one of the biggest misconceptions we see is the belief that owning a rental is mostly...
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