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3 weeks ago | 
wealthup.com | Riley Adams |Candice Lee Reeves |Kyle Woodley
Managing rental properties can be challenging, whether it’s a full-time job or a way to earn passive rental income.
This article will cover common rental property management tasks and tools to help DIY landlords. We’ll also explain the advantages and disadvantages of hiring a property manager and provide tips on how to be the best landlord.
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1 month ago | 
wealthup.com | Riley Adams |Candice Lee Reeves |Kyle Woodley
Being a real estate investor and managing one or more rental properties can be a full-time job with more than a few challenges. While some property owners have the expertise, time, and desire to run a rental property business, others opt to hire a property management service.
Hiring a property manager or property management team can free up time and resources, but these services cut into your profits more than managing rentals yourself.
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1 month ago | 
wealthup.com | Riley Adams |Candice Lee Reeves |Kyle Woodley
While you can never guarantee a positive rental experience, a credit check can be a good indicator.
Credit checks provide insights into an applicant’s level of financial responsibility and give you an idea of how likely they are to pay rent on time. It shouldn’t be your only screening method, but it’s an important piece of the puzzle.
This article will teach you how to run a credit check on a tenant.
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1 month ago | 
wealthup.com | Riley Adams |Candice Lee Reeves |Kyle Woodley
Most people have become accustomed to paying for just about anything with a credit card. But can you pay for rent using a credit card?
The short answer is yes. While it’s possible to pay your rent with a credit card, this payment method has pros and cons.
Keep reading to learn about paying rent with a credit card, how it works, what will happen to your credit score, and more.
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1 month ago | 
wealthup.com | Riley Adams |Candice Lee Reeves |Kyle Woodley
One of the most basic payments in real estate management is the security deposit. As a landlord, you’ll typically collect this at the start of your relationship with your tenant, along with the first month’s rent.
And like with most aspects of renting out property, there are rules and regulations concerning security deposits. Today, we’re focused specifically on where those deposits need to be held.
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1 month ago | 
wealthup.com | Riley Adams |Kyle Woodley |Candice Lee Reeves
Your landlord is legally required to rent you a habitable property—and if they don’t, establishing a rent escrow account is one way to ensure it happens.
You should feel safe where you live. And your rental home shouldn’t pose health risks. Many landlords provide this kind of environment—many, but not all. Sometimes, you might have to share your concerns with your landlord and ask them to fix the issue.
But what action can you take if the landlord fails to make the necessary repairs?
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2 months ago | 
wealthup.com | Riley Adams |Candice Lee Reeves |Kyle Woodley
Research shows landlords using online rent collection methods are 20 times more likely to get paid on time compared to those collecting rent checks or cash payments.
There are multiple ways to collect rent online, but some methods are far superior to others. This article will go over the best ways landlords can collect online rent payments and answer common questions about how to collect rent online.
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2 months ago | 
wealthup.com | Riley Adams |Candice Lee Reeves |Kyle Woodley
Even if you thoroughly screen tenants, they can end up paying rent late or not paying at all. While most landlords aren’t required to report rent payments to credit bureaus, there are some benefits to consider.
This article will explain how to report a tenant’s late or missed payments to credit bureaus, legal requirements for rent reporting, and any services to report rent for you.
How Do You Report Tenants to the Credit Bureau?
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Jan 24, 2025 | 
wealthup.com | Riley Adams |Candice Lee Reeves |Kyle Woodley
While income and expense tracking isn’t the most enjoyable part of rental property management, it’s a step you shouldn’t skip.
Storing the occasional receipt and having a general idea of costs doesn’t cut it if the IRS has questions. You need exact numbers to back up your rental property expenses used to reduce taxable net income.
This article will explain how to accurately track your rental property expenses, what documents to keep, how to report expenses to the IRS, and more.
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Jan 24, 2025 | 
wealthup.com | Riley Adams |Candice Lee Reeves |Kyle Woodley
While you can never guarantee a positive rental experience, a credit check can be a good indicator.
Credit checks provide insights into an applicant’s level of financial responsibility and give you an idea of how likely they are to pay rent on time. It shouldn’t be your only screening method, but it’s an important piece of the puzzle.
This article will teach you how to run a credit check on a tenant.
