Property Management Blog

Property Manager's Guide to Tax Time and Sending 1099s to Landlords

The American Rescue Plan Act of 2021 brings major benefits for low-income earners across the USA, but it has also led to changes in real estate tax reporting for landlords.From 2024 onwards, landlords must declare all income earned from rentals if it exceeds $600 per year. To com...

What Are Typical Application Fees?

Are you new to renting out your property and curious about the costs? Are you wondering, "What are typical application fees?"Navigating the rental application process can be overwhelming, especially for first-time landlords.One significant aspect is understanding tenant...

How Do You Calculate Prorated Rent?

Have you ever felt like prorating rent is akin to solving a math puzzle without the picture on the box?Surprisingly, the trick lies in understanding a simple formula that can turn this task into a straightforward calculation.We've broken down the art of prorating rent into bi...

Benefits of Online Portals for Owners and Tenants in Lynchburg, Virginia

As of 2024, roughly 95 percent of all U.S. adults have at least some access to the internet. This may take the form of a laptop, a home computer, or even a mobile device.Landlords in Lynchburg, Virginia can take advantage of this widespread internet access through the use of onli...

Legal and Optional Tenant Maintenance Responsibilities in Lynchburg, Virginia

Everyone knows landlords are responsible for major maintenance, but did you know tenants are also responsible for some maintenance? The same duty of a tenant not to damage property also comes with some light property maintenance responsibilities. These are called legal property m...

Eviction Protection: What Lynchburg Landlords Need To Know

Since 2020, Lynchburg has seen over 5,000 eviction fillings.This might not sound like a lot, but Lynchburg's population is under 80,000. If you're a landlord, you know how difficult it is to find tenants you can trust. No landlord ever wants to deal with the eviction proc...

Rent Collection Ups and Downs: The Life of a Lynchburg Landlord

Demand for housing remains high, but homebuyers face low supply and mortgage rates above 7 percent. That means to be able to afford a home, you need to make over six figures.This pushes people to turn to rentals, which should be great news for landlords in Lynchburg, VA. Unfortun...

Why Choose Full-Service Property Management in Lynchburg, VA?

How much time a day do you spend managing your investment properties alone? What if you could sit back, relax, and know they were taken care of instead? Over 50% of landlords don't manage their own properties.Instead, they outsource to full-service property management compani...

Difference Between Service, Emotional Support Animals, and Pets in Lynchburg, VA

Deciding whether to allow pets in your rental property is a matter of preference, but that does not mean you can prevent tenants from introducing animals in your rental home. Landlords must make exceptions for assistance animals, like service and support dogs. Read on to discov...

5 Myths About Rental Property Pricing in Lynchburg, VA

According to recent stats, renters head about 36% of the nation's 122.8 million households.In the vibrant market of Lynchburg, VA, navigating rental property pricing can often feel like a complex puzzle. However, understanding the truths behind common misconceptions can empow...