Author: Alex Delaney  At Compass Property Management, we are staying on top of our rent rolls. We are following up with all delinquent tenants, offering them empathy, support, resources and options. We are allowing weekly payments, if necessary, for those reliant on unemployment checks. We suspended late fees for April and May and we are…

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Author: Alex Delaney In 2019,  the economy was surging, but experts were starting to predict a slowdown. We took their advice and streamlined our company allowing us to focus on what we do best, the management of rental properties. We believed this move would allow us to tighten our belts and navigate a potentially shrinking…

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Author: Alex Delaney There is a lot of information out there regarding the Covid-19 virus. We want you to be safe, so we have reviewed Red Cross, CDC, Johns Hopkins and other websites to bring you the most up to date information in an easily reviewed format. This is a new disease and we are…

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Author: Alex Delaney Section 8 has a bad reputation. While not all Section 8 tenants are problematic, there are enough horror stories to keep landlords from considering this program, especially those with personal experience. Landlords, who have pulled out of the system long ago, cite problems getting the tenant’s portion of rent, overzealous inspectors with…

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Author: Alex Delaney In this time of social distancing, vacation plans have been put on hold creating a devastating financial setback for short-term vacation rental owners. There is a lot of concern that the current pandemic situation will not resolve until a vaccine is available, which is currently projected to be a year to a…

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Author: Alex Delaney Landscaping is a major indicator of how long an A or B list property stays on the market. If your rental property looks shabby in comparison with the surrounding properties, a rental prospect will likely go to the house around the corner. But you don’t have to spend a fortune to make…

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Author: Alex Delaney Setting rent can be tricky business. You want to get a good return on your investment, but you won’t be successful if you set a certain rental amount without considering other factors. To get the best return on your investment there are four things you should strive for: Make sure you purchase…

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Author: Alex Delaney Your first order of business in rental property is making your property desirable to renters without breaking your budget. The best way to determine what to spend on improvements starts with a critical assessment of your property and the surrounding properties.  Generally, there are three classes of properties:  “A” properties are high…

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Author: Alex Delaney Winter is a time of slow down in the housing market. People don’t want to move during the holidays or cold months and the extra holiday expenses impact budgets, making deposits and first month’s rent harder to pull together. But that doesn’t mean you can’t rent your property during the winter months.…

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Author: Alex Delaney So you’ve taken the plunge into developing a passive income stream. Pat yourself on the back. Not only are you creating future monthly income, but you also own an appreciating asset. In addition, you have just given yourself some great tax benefits. There are, of course, two major issues when dealing with…

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