A lease agreement is a legally binding document. It obligates both a landlord and the tenant to abide by its terms for a set period of time. That said, circumstances may change and they may need to break their lease. As a landlord, it’s important that you understand...
Being a landlord in the State of Virginia can be a good source of additional income. After all, it’s a beautiful state and its population is continuously growing. It’s currently home to over 8.6 million people, which means that it offers a lot of opportunities...
It is your right as a landlord to collect a security deposit. For a Virginia landlord, collecting a security deposit from your tenant offers many benefits including covering: Unpaid utilities: In Virginia, landlords may withhold a portion of the security deposit to...
Successful rental owners follow these guidelines to ensure the success of their rental, and maximize their owning experience. 1. Treat your rental property like a business… because it is a business! 2. Have a financial reserve set aside for the “unexpected.” Placing...
According to Virginia laws, a lease agreement can be entered between and landlord and tenant either verbally or as a written lease. Both landlords and tenants obtain certain rights and responsibilities under the Virginia Residential Landlord and Tenant Act. All...
There are many exciting and interesting things to learn about being a landlord. But, one of the most often overlooked topics is rental property tax deductions! As a new or experienced landlord, you need to take the time to become a master of your taxes to ensure...
