Planning for rental property repairs is essential to maintaining a profitable investment. While some years may bring minimal maintenance, others can require huge expenses. In property management, a smart budget helps prevent financial surprises and ensures a rental stays in top shape. Here’s everything you need to know, including th...

Did you know that without renter’s insurance, even a simple accident in your rental property could cost you thousands? In property management, understanding renter's insurance is essential for protecting both you and your tenants. In this video, we’ll explore why renter’s insurance is a must-have for every landlord, ...

Tax season is here, and I know it’s not the most exciting time of year. The good news is you don’t have to dread it. You can save a lot of money by taking advantage of a few key tax tips for landlords. Let me share with you the three best ways to reduce your tax bill this year:1. Take advantage of bonus depreciation. Bonus dep...

Understand your responsibilities when it comes to plumbing repairs.When the toilet drains fail to flush, who’s responsible for having them fixed?A clogged toilet is a household nightmare and probably the last thing you’d ever want to deal with. Imagine rising water levels and a frantic search for plungers. Amidst this flushing...

Three common situations when it makes sense to sell your rental property.When does it make sense to sell your rental property? Owning a rental property can be a rewarding investment, but there may come a time when selling becomes the best course of action. As property managers, we’ve counseled many landlords on what the best course ...

Learn how to handle late rent payments with these three key steps: issuing a notice, sending a pay-or-quit, and taking legal action if necessary.How do you handle a tenant who treats “rent due” like a mere suggestion? If you’re a landlord, sooner or later, you will face the frustrating situation of a tenant who fails to ...

Here are three steps landlords should take to evict any problem tenants.At Richey Property Management, we understand that whether it’s due to non-payment of rent, property damage, or lease violations, the eviction process of a problematic tenant can be complex and time-consuming. However, by following a strategic approach and unders...

Learn which insurance clauses are essential for protecting your investment.At Richey Property Management, we emphasize understanding the key clauses in your landlord insurance policy to make sure you have the right coverage in place. Here are three key clauses to remember:1. Damage and liability protection. This covers the cost of repairi...

Leverage your property sales by deferring capital gains taxes with a 1031 exchange, giving you more capital to reinvest in bigger real estate deals.Let’s be honest for a second: you’ve worked hard to build up your real estate investments, but every time you sell a property, you’re getting hit with hefty capital gains tax...

Learn how proactive maintenance, tenant education, and quality upgrades can minimize repair costs and keep your rental property in top condition.Are you exhausted by the constant repairs eating into your rental property’s profitability? Owning a rental shouldn’t feel like a never-ending cycle of maintenance woes. The good news...