Listen On:
After years of managing rental property doors the traditional way—with keys, lockboxes, and coordinating access with contractors—Kevin and I decided it was finally time to try something different. In this episode of the Your Landlord Resource Podcast, we talk about why we installed smart locks on our rental properties and what we’ve learned from using them.
We walk through the exact lock we chose, the Kwikset Halo touchscreen smart lock, and why it made sense for our properties. For us, the biggest benefit has been convenience. Instead of driving three hours round-trip to meet a contractor or cleaner, we can now create temporary access codes, monitor entry remotely, and lock the door from anywhere using the app.
Smart locks have also made life easier for our tenants. They can enter with a code if they forget their keys, and families or roommates can each have their own access code. It also allows us to quickly change access between tenants without calling a locksmith or replacing the entire lock.
Of course, smart locks are not perfect for every property so we also discuss the downsides like battery maintenance, the need for reliable Wi-Fi, installation costs, and situations where a traditional lock might still make more sense.
If you’re a self-managing landlord looking to create better systems and save time coordinating access to your units, this episode will give you a realistic look at whether smart locks are worth it.
What You’ll Learn in This Episode
- Why we installed Kwikset Halo smart locks in our rental properties
- How smart locks simplify access for contractors, cleaners, and maintenance workers
- The time savings smart locks created for self-managing landlords
- How tenants benefit from keypad entry and individual access codes
- How smart locks reduce the need for rekeying between tenants
- Battery maintenance and other technical considerations
- Why reliable Wi-Fi is essential for smart lock systems
- Situations where smart locks may not be the best solution for landlords
Links & References
Quickset Halo Smart Lock Touchscreen & Deadbolt
Episode 66 Midterm Rentals Explained
Episode 103 We Installed Property-Wide Wi-Fi. The Pros, Cons & What to Know
Connect with Us:
🌎 Visit our website
📧 Subscribe to our newsletter.
👆Click this LINK to select from our FREE Landlord Forms and Doc’s
🤳Text Us SMS text to 650-489-4447. We love questions and love letters, hate mail not so much!
📩Email us at: [email protected], [email protected]
✔️Course Waitlist: From Marketing to Move In, Place Your Ideal Tenant
📱 Follow us on Instagram, Facebook, & join our private Facebook group
🎧 Listen & Subscribe on Apple Podcasts, Spotify, or your favorite podcast app
Check out samples of our newsletter👇 If you love it, you can subscribe from there!
- How to Encourage Long Term Tenancy
Landlord Update Hey Landlords, This has been a pretty productive couple of weeks for us. We were able to get away to Hawaii for a few days and enjoyed some much needed down time. Kevin snorkeled and I lounged under the umbrella and we both took naps! I slept so well and I can say we are back feeling energized and ready to get going with all the stuff on the horizon. As I mentioned in the last newsletter, in Sacramento we had 3 renewals pending. We are happy to report that 2 of 3 have renewed…Read more - Smart Budgeting Tips for Rental Property Owners
Tip of the Week Greetings Landlords! As I sit here gathering my thoughts on what I should update you on, I am listening to a slew of workers who are doing A LOT of improvements to our own personal home. We always joke that our tenants have nicer homes to live in than we do! And where a home is what you make of it, not all the bells and whistles and amenities, we are finally getting many much needed projects done on our home that will make it safer and more enjoyable. Let's start with the…Read more
*This post contains affiliate links. We may earn a very small commission (at no additional cost to you) if you purchase from here. These small commissions are to benefit our business so thank you for your support.
Estimated reading time: 0 minutes
Source: RL Property Management
The Best Turnover Is the One That Doesn’t Happen
Turnovers are expensive, stressful, and time-consuming—and while some are unavoidable, many can be prevented with the right approach. For landlords and investors, minimizing turnover is one of the most effective ways to reduce costs, protect cash flow, and improve long-term ROI. But it doesn’t happen by accident. Long-term tenancy starts with intentional systems, clear expectations, and consistent follow-through.
We believe that keeping good tenants is just as important as finding them. And where demand is high and quality tenants are valuable, retention is a competitive edge. This guide explores how landlords can build loyalty, reduce churn, and create a smoother, more profitable rental experience from day one.
Retention Starts on Day One
Keeping a quality tenant starts before they even move in. From first impressions to ongoing interactions, every touchpoint matters. Here’s how to lay the foundation for a long-term relationship that benefits both you and your tenant.
Clear Communication and Expectations
Most turnover issues stem from mismatched expectations. That’s why RLPM focuses on clarity from the beginning. Move-in instructions, maintenance protocols, and rent payment procedures should be documented and communicated in writing. We also walk tenants through what they can expect during their lease—from how to submit maintenance requests to what happens if rent is late.
This kind of transparency builds trust and reduces misunderstandings. When tenants feel informed and respected, they’re more likely to stay.
Proactive Maintenance and Fast Response Times
Few things drive tenant dissatisfaction faster than slow maintenance. According to our internal metrics, one of the top predictors of renewal is how quickly and professionally maintenance issues are handled.
We prioritize maintenance requests not just for legal compliance but as a key part of our retention strategy. We aim for same-day response to emergency issues and fast turnaround for routine repairs. Our team also follows up to ensure issues are fully resolved.
When tenants know that their concerns will be addressed promptly, they’re far more likely to renew.
Routine Check-ins That Build Trust
You don’t need to be overbearing to stay connected. Thoughtful touchpoints—like seasonal maintenance reminders, lease milestone check-ins, and occasional satisfaction surveys—can go a long way.
Use these check-ins to stay ahead of potential problems. It also sends the message that the property (and the tenant experience) is being professionally managed.
Bottom line? If you want tenants to stick around, start building that relationship on day one. It pays off.
Smart Lease Renewals That Serve Both Sides
Lease renewals are where your retention strategy either comes to life or falls apart. When done right, renewals support consistent income, reduce vacancy, and avoid unnecessary turnover costs. Here’s how to renew smarter.
Auto-Renewals + 2.5% Increase: Small, Predictable, Retention-Friendly
Leases automatically renew with a built-in 2.5% rent increase—a small bump that aligns with inflation and market trends. This approach creates predictable, sustainable growth in rental income without shocking your tenants with a sudden hike.
Most tenants are comfortable with a modest increase, especially when their overall experience has been positive. This small adjustment also gives landlords flexibility to stay competitive in the Columbus market without compromising on retention.
When Bigger Increases Are Justified—And How to Handle the Risk
There are times when larger rent increases make sense: significant upgrades to the unit, major shifts in the market, or catching up after years without adjustments. But there’s a tradeoff.
Large increases often lead to non-renewals, even from tenants who might have otherwise stayed. If you’re considering a bump beyond 2.5%, it’s essential to weigh:
- The cost of a potential turnover (cleaning, repairs, vacancy)
- The market rent for comparable units
- The tenant’s overall quality and payment history
If a higher increase is necessary, transparency helps. Explain the reason, offer flexibility in terms, or consider incentives like a one-time rent credit to ease the transition.
Month-to-Month Flexibility: Strategic or Risky?
We allow tenants to go month-to-month after lease expiration—but with a 20% rent increase. This option gives tenants flexibility and compensates landlords for the increased risk of unexpected vacancy.
Month-to-month terms can work well for tenants in transition, but they’re not ideal for long-term planning. We recommend using this option selectively, and clearly communicating the financial tradeoffs to tenants who are hesitant to sign a new lease.
When used strategically, flexible lease terms can support retention—without sacrificing your bottom line.
Retention Strategy in Action
Retention isn’t luck—it’s built on systems. We use data-driven strategies to reduce turnover across our managed portfolio. Here’s what that looks like in practice.
Tenant Satisfaction Metrics That Matter
You can’t improve what you don’t measure. That’s why we track tenant satisfaction through regular surveys, maintenance feedback forms, and renewal insights. We analyze response times, complaint resolution rates, and tenant retention history to identify what’s working—and what needs attention.
This allows us to proactively address service gaps and ensure tenants feel heard, valued, and taken care of.
Regular Preventive Inspections
We perform scheduled preventive inspections every three to six months. These check-ins aren’t just about finding damage—they’re about showing tenants that the property is actively cared for.
We catch maintenance issues early, reinforce cleanliness standards, and open lines of communication. It’s a win-win: tenants feel secure and landlords avoid expensive surprises.
Preventive inspections also help uncover unreported issues that, left unaddressed, could lead to dissatisfaction and turnover down the line.
Customized Renewal Strategies
Not every tenant, or every unit, needs the same approach. We tailor renewal strategies based on rental history, tenant behavior, and property goals. For a reliable tenant in a high-performing unit, we may recommend an early renewal offer with a rent freeze. For another, a modest increase with added amenities may be the right call.
This level of customization helps maximize retention while aligning with each owner’s objectives.
Our renewal strategy is never one-size-fits-all—it’s data-informed and outcome-focused.
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Keep Great Tenants Longer—And Know When to Let Go
Not every tenant is worth retaining. While long-term occupancy is ideal, it only pays off if the tenant is reliable, respectful, and adds value to your investment. Here’s how to identify and keep your best tenants—and when it makes sense to move on.
The Value of Keeping High-Quality Tenants
Tenants who pay on time, follow lease terms, and care for the property are invaluable. Reducing turnover among these renters directly translates to fewer vacancies, lower maintenance costs, and better financial stability.
Our average turnover rate is lower than the regional norm—and that’s not by chance. Our approach emphasizes relationship-building, proactive care, and clear communication—all of which encourage tenants to stay put.
Keeping a great tenant for 3+ years versus replacing them annually can mean thousands in saved turnover costs and stronger long-term ROI.
When It’s Time to Let Go
Sometimes the cost of retaining a tenant outweighs the benefit. Chronic late payers, tenants who generate frequent complaints, or those who consistently damage the unit can erode property value and add stress.
In these cases, we help property owners develop exit strategies that minimize conflict. Whether it’s letting a lease expire without renewal or offering a cash-for-keys incentive, we aim to make the process smooth and professional.
Letting go can open the door to better tenants—and stronger returns.
Don’t Leave Retention to Chance
Tenant retention isn’t just a bonus—it’s a business strategy. Every extra year a quality tenant stays in place is a year with lower costs, more stability, and stronger cash flow. But it takes structure, consistency, and a proactive mindset to get there.
Whether you manage one unit or an entire portfolio, building a smart retention system is one of the best investments you can make. From clear communication and responsive maintenance to data-informed renewal strategies, the right approach protects your time and maximizes your returns.
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By John J. Stromberg
Estate planning for rental property owners involves a multitude of estate planning options available to rental property owners. Most rental housing owners understand the general purpose of a will and its goal to carry out the deceased’s instructions after their death. However, too many hapless owners have overlooked the necessary requirements to ensure their will’s validity, thereby triggering a myriad of problems for their heirs.
Primary Requirements to Execute a Will
Even the most basic wills require one of the following events to occur in front of two or more witnesses: (1) the testator signs the will in front of the witnesses; (2) the testator directs one of the witnesses (or some other person) to sign the name of the testator and have that person actually signing for the testator also sign their name; or (3) the testator acknowledges that a signature previously made on the will without the witnesses present at that time, was in fact signed by the testator or signed at the testator’s direction. Further, those two witnesses must sign the will within a reasonable time before the testator’s death.
Modifying or Revoking a Will
Once a will is in place, the owner can revoke or modify it by (1) executing a subsequent will; or (2) burning, tearing, or otherwise completely destroying the current will for the intended purpose of revoking or altering the same.
The testator can even have another person carry out the latter acts at the direction, and in the presence, of the testator with at least two other people present to attest to the fact the testator did in fact direct that other person to take such action.
Witness as Beneficiary
The owner’s heirs and beneficiaries can serve as a witness during the execution of the will. However, it is not recommended that the owner’s heirs, or a beneficiary, also serve as a witness due to concerns of undue influence on the testator that could later create costly litigation.
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If the testator’s will already includes instructions for a distribution of rental properties, marriage can trigger a revocation of that will, unless (1) the testator’s will shows a clear intent that it is not to be revoked by any subsequent marriage, or that the will was drafted in contemplation of the marriage; or (2) the testator and spouse entered into a written agreement before the marriage (e.g., a prenuptial agreement) specifying (a) what the spouse is to receive, or (b) that the spouse shall have no rights in the estate.
If the married testator divorces their spouse after execution of a will, the divorce triggers a revocation of (1) all provisions in favor of the former spouse, and (b) any appointment of the spouse as personal representative of the estate. (That’s why divorce judgments commonly describe the revocation of any previously executed wills.)
Who should be my Personal Representative?
Rental property owners should choose their personal representative carefully, as that person will be responsible for the testator’s estate.
An ideal personal representative would have property management experience, financial aptitude, and both the time and resources to maintain the properties with only limited direction from the testator’s will. Further, when there is conflict during distribution of the estate, it may become necessary for the court to exercise its authority and appoint a personal representative to resolve the issues.
There are a multitude of estate planning options available to rental property owners. Every owner is as unique as their estates and objectives. This short article offers only a handful of the different circumstances rental housing owners may experience when contemplating the proper execution of a will.
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Subscribers get access to our free forms, email templates, and guides! As well as…
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Three years and 116 episodes in, Kevin and I thought it was time to let our listeners do the talking. In this episode of the Your Landlord Resource Podcast, we count down the Top 5 Most-Listened-To Episodes — the ones you keep coming back to — and break down why they resonated so strongly with self-managing landlords.
The countdown includes Episode 58 on the hidden costs of owning rental properties, Episode 6 on creating standard operating procedures, Episode 95, a fan-favorite Q&A where we tackled real landlord problems, Episode 56 on how and when to transfer your rental property into an LLC, and the number one most-listened-to episode of all time: Episode 99 on Five Oversights That Drain Landlord Profits.
We revisit what made each episode so impactful and share a few updates since they were originally published — including a reminder that tax laws and landlord-tenant laws change, so always work with your CPA and a real estate attorney. Also discussed is how listener feedback directly shapes the content we create and invite landlords to reach out about one-on-one coaching.
Whether you are brand new to rental property ownership or a seasoned investor looking to sharpen your systems, this episode is a great roadmap for where to start — or where to go deeper.
What You’ll Learn in This Episode
- Which five episodes our listeners have downloaded and returned to most
- Five profit-draining oversights most landlords don’t catch until it’s too late
- The pros, cons, and timing considerations for transferring rental property into an LLC
- Why standard operating procedures are the backbone of a professional rental business
- The hidden costs of owning rentals that most investors fail to plan for
- Real Q&A answers to actual landlord challenges including inherited properties, pest control, and first rental advice
- Why tenant screening is the single most important task in your rental property business
- How listener questions and feedback directly guide the content Kevin and Stacie create
Links & References
Episode 99 – Five Oversights That Drain Landlord Profits
Episode 56 – How and When to Transfer Your Rental Property into an LLC
Episode 95 – Solving Landlord Problems Q&A
Episode 6 – Creating Standard Operating Procedures for Your Business
Episode 58 – Hidden Costs of Owning and Operating Rental Properties
Episode 115 – Charging Tenants a Flat Utility Fee
The E-Myth Revisited by Michael Gerber
TurboTenant – The best tenant management software for self-managing landlords.
EZ Landlord Forms – State Specific Leases and Forms
Connect with Us:
🌎 Visit our website
📧 Subscribe to our newsletter.
👆Click this LINK to select from our FREE Landlord Forms and Doc’s
🤳Text Us SMS text to 650-489-4447. We love questions and love letters, hate mail not so much!
📩Email us at: [email protected], [email protected]
✔️Course Waitlist: From Marketing to Move In, Place Your Ideal Tenant
📱 Follow us on Instagram, Facebook, & join our private Facebook group
🎧 Listen & Subscribe on Apple Podcasts, Spotify, or your favorite podcast app
Check out samples of our newsletter👇 If you love it, you can subscribe from there!
- How to Encourage Long Term Tenancy
Landlord Update Hey Landlords, This has been a pretty productive couple of weeks for us. We were able to get away to Hawaii for a few days and enjoyed some much needed down time. Kevin snorkeled and I lounged under the umbrella and we both took naps! I slept so well and I can say we are back feeling energized and ready to get going with all the stuff on the horizon. As I mentioned in the last newsletter, in Sacramento we had 3 renewals pending. We are happy to report that 2 of 3 have renewed…Read more
- Smart Budgeting Tips for Rental Property Owners
Tip of the Week Greetings Landlords! As I sit here gathering my thoughts on what I should update you on, I am listening to a slew of workers who are doing A LOT of improvements to our own personal home. We always joke that our tenants have nicer homes to live in than we do! And where a home is what you make of it, not all the bells and whistles and amenities, we are finally getting many much needed projects done on our home that will make it safer and more enjoyable. Let's start with the…Read more
*This post contains affiliate links. We may earn a very small commission (at no additional cost to you) if you purchase from here. These small commissions are to benefit our business so thank you for your support.
Estimated reading time: 0 minutes
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Managing utilities in rental properties has become increasingly challenging for small landlords. In this shorty episode of the Your Landlord Resource Podcast, Stacie Casella and Kevin Kilroy discuss a strategy many landlords are beginning to implement: charging tenants a flat monthly utility fee.
Many duplexes, fourplexes, and older multifamily buildings have shared water meters, which means landlords often include water, sewer, trash, and recycling in the rent. Historically this worked well when utility costs were predictable. But as rates continue rising in many areas, landlords are often unknowingly subsidizing tenant usage.
In this episode, Stacie and Kevin explain how a flat utility fee works, how it differs from RUBS (Ratio Utility Billing System), and why landlords may choose this method as a cost-sharing solution. They also discuss how tenants typically respond when this change is introduced and the importance of communicating clearly and implementing the fee properly through lease renewals.
Stacie shares real examples from their own rental properties and explains how they calculated a fair utility fee while still maintaining positive tenant relationships. The goal is not to increase profit but to allocate shared building expenses more fairly while helping landlords maintain sustainable rental operations.
If you own small multifamily rentals and are struggling with rising utility costs, this episode provides practical insight to help you decide whether a flat utility fee might be right for your property.
What You’ll Learn in This Episode
- Why many landlords historically included utilities in rent
- How rising water, sewer, and trash costs impact rental property profitability
- What a flat monthly utility fee is and how it works
- The difference between a flat utility fee and the RUBS billing method
- How tenants typically respond when landlords introduce a utility fee
- Best practices for implementing a utility fee at lease renewal
- Why clear lease wording is essential when charging utility fees
Links & References
EZ Landlord Forms State Specific Leases and Forms
TurboTenant The best tenant management software for self-managing landlords.
Connect with Us:
🌎 Visit our website
📧 Subscribe to our newsletter.
👆Click this LINK to select from our FREE Landlord Forms and Doc’s
🤳Text Us SMS text to 650-489-4447. We love questions and love letters, hate mail not so much!
📩Email us at: [email protected], [email protected]
✔️Course Waitlist: From Marketing to Move In, Place Your Ideal Tenant
📱 Follow us on Instagram, Facebook, & join our private Facebook group
🎧 Listen & Subscribe on Apple Podcasts, Spotify, or your favorite podcast app
Check out samples of our newsletter👇 If you love it, you can subscribe from there!
- How to Encourage Long Term Tenancy
Landlord Update Hey Landlords, This has been a pretty productive couple of weeks for us. We were able to get away to Hawaii for a few days and enjoyed some much needed down time. Kevin snorkeled and I lounged under the umbrella and we both took naps! I slept so well and I can say we are back feeling energized and ready to get going with all the stuff on the horizon. As I mentioned in the last newsletter, in Sacramento we had 3 renewals pending. We are happy to report that 2 of 3 have renewed…Read more
- Smart Budgeting Tips for Rental Property Owners
Tip of the Week Greetings Landlords! As I sit here gathering my thoughts on what I should update you on, I am listening to a slew of workers who are doing A LOT of improvements to our own personal home. We always joke that our tenants have nicer homes to live in than we do! And where a home is what you make of it, not all the bells and whistles and amenities, we are finally getting many much needed projects done on our home that will make it safer and more enjoyable. Let's start with the…Read more
*This post contains affiliate links. We may earn a very small commission (at no additional cost to you) if you purchase from here. These small commissions are to benefit our business so thank you for your support.
Estimated reading time: 0 minutes
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Managing rental properties comes with a big decision: should you handle everything yourself or hire a property manager?
In this episode, Stacie Casella and Kevin Kilroy share the real pros and cons of self-managing versus outsourcing — from cost savings and control to the realities of late-night calls, legal paperwork, and burnout. Together, they discuss how each option fits different lifestyles, investment goals, and seasons of life.
You’ll hear stories from their own experience managing a Sacramento 6-plex, a long-distance four-plex in Idaho, and everything in between — plus practical tips to help you make the best decision for your business.
Whether you’re a new landlord just starting out or an experienced investor scaling up, this episode will help you confidently decide which management style supports your goals.
Discussed in this episode:
- The biggest benefits of self-managing rentals
- When hiring a property manager makes sense
- How to evaluate your time, personality, and comfort with risk
- Real examples from Stacie and Kevin’s portfolio
- Recommended landlord tools and software for both approaches
🔗 Links & Resources Mentioned
Listen to Episode 39: 50+ Must-Ask Questions When Hiring a Property Manager, Pt.1
Listen to Episode 40: 50+ Must-Ask Questions When Hiring a Property Manager, Pt.2
Listen to Episode 79: Accounting Software Options for Real Estate Investors
Listen to Episode 84: Tenant Screening Software, What Landlords Need to Know
Listen to Episode 106: The Benefits of Being a Digital Landlord
Connect with Us:
🌎 Visit our website
📧 Subscribe to our newsletter.
👆Click this LINK to select from our FREE Landlord Forms and Doc’s
🤳Text Us SMS text to 650-489-4447. We love questions and love letters, hate mail not so much!
📩Email us at: [email protected], [email protected]
✔️Course Waitlist: From Marketing to Move In, Place Your Ideal Tenant
📱 Follow us on Instagram, Facebook, & join our private Facebook group
🎧 Listen & Subscribe on Apple Podcasts, Spotify, or your favorite podcast app
Check out samples of our newsletter👇 If you love it, you can subscribe from there!
- How to Encourage Long Term Tenancy
Landlord Update Hey Landlords, This has been a pretty productive couple of weeks for us. We were able to get away to Hawaii for a few days and enjoyed some much needed down time. Kevin snorkeled and I lounged under the umbrella and we both took naps! I slept so well and I can say we are back feeling energized and ready to get going with all the stuff on the horizon. As I mentioned in the last newsletter, in Sacramento we had 3 renewals pending. We are happy to report that 2 of 3 have renewed…Read more
- Smart Budgeting Tips for Rental Property Owners
Tip of the Week Greetings Landlords! As I sit here gathering my thoughts on what I should update you on, I am listening to a slew of workers who are doing A LOT of improvements to our own personal home. We always joke that our tenants have nicer homes to live in than we do! And where a home is what you make of it, not all the bells and whistles and amenities, we are finally getting many much needed projects done on our home that will make it safer and more enjoyable. Let's start with the…Read more
*This post contains affiliate links. We may earn a very small commission (at no additional cost to you) if you purchase from here. These small commissions are to benefit our business so thank you for your support.
Listen On:
Ever feel like you’re running a marathon but you can’t remember why you started running in the first place?
That was our entire 2025. Between two destination weddings, a home renovation that went 300% over budget (with roofers literally falling through our ceiling THREE TIMES), rental property turnovers, portfolio decisions, and trying to be present for our aging parents and adult kids—we were completely burnt out.
In this raw and honest episode, we’re pulling back the curtain on what really happened, why we had to hit pause on the podcast, and what we learned about saying no, setting boundaries, and protecting our time as landlords and business owners. We’re talking about the seven-plex we walked away from, the winter vacancies we’ll never do again, helping our son with his first rental property, and why our 2026 word is RESET.
If you’ve been feeling overwhelmed or like your rental business is running you instead of the other way around, this episode is for you. Let’s talk about what really matters.
What You’ll Learn in This Episode
- Why walking away from deals can be the smartest investment decision
- Real costs of home improvement projects (and why you should always add 40%)
- When to say no to opportunities that don’t align with your operating standards
- Strategies for rental turnovers during difficult seasons
- Why renewal strategy matters more than ever in today’s market
Connect with Us:
🌎 Visit our website
📧 Subscribe to our newsletter.
👆Click this LINK to select from our FREE Landlord Forms and Doc’s
🤳Text Us SMS text to 650-489-4447. We love questions and love letters, hate mail not so much!
📩Email us at: [email protected], [email protected]
✔️Course Waitlist: From Marketing to Move In, Place Your Ideal Tenant
📱 Follow us on Instagram, Facebook, & join our private Facebook group
🎧 Listen & Subscribe on Apple Podcasts, Spotify, or your favorite podcast app
Check out samples of our newsletter👇 If you love it, you can subscribe from there!
- How to Encourage Long Term Tenancy
Landlord Update Hey Landlords, This has been a pretty productive couple of weeks for us. We were able to get away to Hawaii for a few days and enjoyed some much needed down time. Kevin snorkeled and I lounged under the umbrella and we both took naps! I slept so well and I can say we are back feeling energized and ready to get going with all the stuff on the horizon. As I mentioned in the last newsletter, in Sacramento we had 3 renewals pending. We are happy to report that 2 of 3 have renewed…Read more
- Smart Budgeting Tips for Rental Property Owners
Tip of the Week Greetings Landlords! As I sit here gathering my thoughts on what I should update you on, I am listening to a slew of workers who are doing A LOT of improvements to our own personal home. We always joke that our tenants have nicer homes to live in than we do! And where a home is what you make of it, not all the bells and whistles and amenities, we are finally getting many much needed projects done on our home that will make it safer and more enjoyable. Let's start with the…Read more
*This post contains affiliate links. We may earn a very small commission (at no additional cost to you) if you purchase from here. These small commissions are to benefit our business so thank you for your support.
Estimated reading time: 0 minutes
Listen On:
In this episode we’re digging into a trend — renters are moving less than at any point in the last 40 years, and whether you manage one unit or ten, this affects your strategy, revenue, and renewals in a big way. So, Kevin and I are unpacking what’s behind the sharp drop in renter mobility and what it means for your business.
We talk through why renewing a lease is cheaper than moving, why ownership remains out of reach for many renters, and how construction slowdowns and underbuilding are freezing vacancy chains. We also break down demographic shifts — from long-term renters in their 50s+ to younger renters relocating less because of job instability and cost-of-living pressures. Climate migration plays a surprising role too — many renters want safer living locations but can’t afford to relocate, which means staying put longer than ever.
Most importantly, we share practical strategies to help you adapt: improving renewal conversations, creating predictable systems, using landlord software, and screening wisely to prevent fraud. Longer tenancies can be great — but only if you proactively manage communication, planning, maintenance, and rent increases.
If you want to run your rentals like a real business — with professionalism, confidence, and systems — today’s episode is packed with insight you can put to work immediately. Let’s go!
⭐ What You’ll Learn in This Episode
- Why renter movement is at a 40-year low
- The economic and housing trends freezing mobility
- How underbuilding affects turnover
- Why renewals and communication matter more than ever
- How to plan for longer tenancy cycles and stable revenue
🔗 Links & Resources Mentioned
Listen to Episode 2: Improving Tenant Retention and Renewals
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- How to Encourage Long Term Tenancy
Landlord Update Hey Landlords, This has been a pretty productive couple of weeks for us. We were able to get away to Hawaii for a few days and enjoyed some much needed down time. Kevin snorkeled and I lounged under the umbrella and we both took naps! I slept so well and I can say we are back feeling energized and ready to get going with all the stuff on the horizon. As I mentioned in the last newsletter, in Sacramento we had 3 renewals pending. We are happy to report that 2 of 3 have renewed…Read more
- Smart Budgeting Tips for Rental Property Owners
Tip of the Week Greetings Landlords! As I sit here gathering my thoughts on what I should update you on, I am listening to a slew of workers who are doing A LOT of improvements to our own personal home. We always joke that our tenants have nicer homes to live in than we do! And where a home is what you make of it, not all the bells and whistles and amenities, we are finally getting many much needed projects done on our home that will make it safer and more enjoyable. Let's start with the…Read more
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By Jason Jones
Exclusions outline what your insurance policy does not cover. Carriers often exclude costly risks like earthquakes or those deemed the owner’s responsibility, such as wear-and-tear or mold. Insurance covers sudden, accidental damage, not gradual or preventable issues.
Knowing which losses are typically excluded helps clarify retained risks and prevent coverage assumptions. Some exclusions can be bought back by endorsement or separate policy.
Standard homeowners policies often exclude business-related losses, including those resulting from rental activities. Investors must have a policy designed specifically for investment properties to ensure proper protection.
Wear-and-Tear
Normal wear and tear is expected from regular use. As an investor, you should be prepared to pay for carpet cleaning or a fresh coat of paint between renters. Wear-and-tear and deterioration are industry-wide exclusions. These small “repairs” can be covered by the security deposit or accepted as the cost of doing business.
Intentional Tenant Damage
Many investors assume that any damage done by a tenant will be covered by their property policy. Intentional tenant damage is usually a sudden, one-time event and may include damage such as broken doors, missing appliances, or spray-painted walls. Damage done by tenants is typically excluded and not considered vandalism or theft to most carriers as you have a lease entrusting the tenant with the care of your property. That contract should stipulate penalties for misuse of the property, whether that be withholding the security deposit or filing a civil lawsuit.
Mold & Fungus
Standing water from floods, backups, etc. can cause mold within 24-48 hours. Coverage for mold, mildew, and fungus is typically completely excluded or very limited. As insurers differ, policy language may mention “mold,” “organic pathogens,” “mycotoxins,” or “penicillium.” Policies may also exclude wet/dry rot and bacteria. Some courts of law treat mold as a pollutant. As such, mold may not be covered if the policy has an absolute pollution exclusion. Mold can damage building materials and affect tenant health.
Sewer & Drain Backup
Tree-root blockages or clogs may cause sewage to back up through drains in the home. This water backup or overflow from a sewer, drain, or sump is typically excluded from standard property policies. For these losses to be covered, you’ll need to purchase a Sewer & Drain Backup endorsement.
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Natural Disasters: Earthquake, Sinkholes & Flood
Standard property policies typically exclude damage from earthquakes, sinkholes, and floods due to their catastrophic and unpredictable nature. However, coverage is often available for all three through an endorsement or separate policy. Flood damage must come from an external source, such as overflowing rivers or heavy rain, not from internal plumbing or sewer systems. Most also exclude surface water, tides, waves, and overflow from any body of water.
Faulty Workmanship
Most policies exclude coverage for damage resulting from faulty structural work, like deck support failure or other construction defects. Even if a renovation property is properly insured under a Builders Risk policy, carriers typically exclude Faulty Workmanship to prevent overlapping coverage. Instead, any damage or negligence caused by a contractor’s workmanship should be covered under their own policy.
These exclusions reflect common limitations in standard investment property policies.
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By Kristi Mergenhagen
If you decided to make the decision to rent out your house, there’s a lot you need to consider. While a lot of people go with using an agent, we wanted to talk with you about everything you need to know about renting your house without an agent.
While using an agent might make the entire process easier, it’s a lot more expensive and can be harder for you to actually rent out your home. Below we’re going to talk about reasons why you shouldn’t necessarily go with the real estate agent to rent out your home and how you can do it without one the easy way.
Why You May Not Want To Use An Agent?
So, why should you not use an agent when renting out your home? Are there certain things you need to be aware of? Will this cost you way too much money and mess up your budget? Let’s talk about a handful of reasons why you may not want to use a real estate agent for this very purpose.
Limited Services
If you’re putting your home on the market for potential renters to see, real estate agents will only use the multiple listing service. This is a service that is only accessible by real estate agents and is, often times, the only service that they use to find housing that’s available.
When a landlord uses the multiple listing service to look for rental properties that are on the market, they’ll miss everything that’s available from a landlord that’s not using a real estate agent. This makes it so that there are very few options available, and your home may not be one of them.
When you’re renting your home, you want to post a listing just about everywhere possible so you can find the best tenant there is available. Using an agent that also uses the multiple listing service will prevent this from happening.
On that same note, if you were the one looking for a home to rent, you are more likely to see better properties available just by looking at real estate sites online on your own.
They Cost A Lot
Just like landlords, real estate agents expect to get paid. They’re usually found working with people who are buying or selling their homes. When you hire a real estate agent, you have to pay them by giving them a percentage of what your home sells for.
This can add up to tens of thousands of dollars, depending on what your home sells for. Since the housing market is so accessible by prospective tenants and landlords alike, it’s almost pointless to hire a real estate agent that will only end up costing you money.
Similarly to selling your home through a real estate agent, if you want to rent out your home with one, you’ll end up paying a percentage of the rent you receive to the agent in the form of a fee for finding a tenant and possibly fees for “managing” the tenant.
A lot of the time tenants will look for future housing on their own, which takes out the purpose of a landlord or homeowner even needing to use an agent in the first place.
They May Not Want To Work With You
When it comes to real estate agents, it can actually be hard to find one that will help you rent out your home. Most of the time, real estate agents are looking for a property that is for sale, not for rent.
They also may not want to work with you because they may require a real estate agent commission. Most landlords don’t want to pay this commission, as it’s not really necessary. You can easily find someone to rent your home without needing to pay extra money.
Doing More Bad Than Good
If you’re a landlord, chances are you’re already well aware of how much houses and rental units go for in your area. When you put a real estate agent into the mix, they’ll tend to want to negotiate rent prices and will oftentimes have the tenant pay a lower rent than you’re wanting to receive.
As a landlord, you’re likely not looking to negotiate on rent prices. Doing that on top of paying a commission for a real estate agent just sounds like a big waste of money to us.
How To Rent Without An Agent?
So, with all that being said, how exactly do you rent your home without using a real estate agent? While it is a lot cheaper to do so, there are some things that you need to be aware of. There are certain concerns that can come up when you’re renting out your property.
Looking For Tenants
Whether you’re using a real estate agent or not, the first thing you want to do is look for prospective tenants. It’s important to note that not all tenants are good tenants.
You can easily post your home for rent across sites like Trulia and Craigslist. You can have people fill out an application right from the advertisement. You’ll also be able to complete background and credit checks if needed.
There is even software you can download that will post your rental property for sale across multiple sites with the click of a button. This saves you time, energy, and possibly money.
If you were to hire a real estate agent, they would do this for you. But it’s not a lot of work and it’s fairly easy. Why not do it yourself and save some money in the process?
Create An Inventory
Now, let’s say you found a great tenant to rent your home. This can be an entire family, multiple college students, or a single person looking to rent their first home.
Your next step is to prepare an inventory (or a move-in, move-out checklist). This isn’t necessarily mandatory, but you should create one as it can help you in the long run. When renting your home, an inventory will form the basis of any claim you have for the deductions from the deposits which you’ll need to go through and also take photos of before anyone moves in.
You can do this yourself or you can allow your letting agent to do it for you. Be sure that all deposits are kept with a deposit protection scheme by making sure that you give the tenant the paperwork that is needed legally.
You also have the option to register the deposit yourself. If this sounds like a route you’d like to take, consider talking to an online letting agent.
Becoming A Landlord
Being a landlord comes with a lot of perks, especially when you’re renting out your own home. When you’re a landlord, you won’t have to pay a monthly fee for a letting agent to manage your property.
This can save you a lot of money over time and you’ll probably learn a few things along the way. That being said, there are some things that are required of you as a landlord.
You’ll always need to make sure that rent is collected, repair or hire someone to repair anything that needs fixing, make sure that the property is safe and livable, and you’ll also have to check the property every 3 to 6 months for current conditions.
Renting out your own home is a great way to bring in some extra cash while still getting the mortgage paid off. As long as you make sure that you find tenants that will pay rent on time and take care of the property, it should be a success.
What It Will Cost You
So, you know that by not hiring an agent you’ll save a lot of money, but this doesn’t mean you won’t spend anything. Being a landlord comes with a lot of requirements that you wouldn’t have if you were to use an agent.
One thing to note is that being a landlord can be quite time-consuming. You might have maintenance requests that pop up at the last minute, you may need to work late on weekends, or you might even find yourself working on a holiday.
A lot of the times being a landlord can take you away from important family time and there can be blurred lines between personal life and work. It may be good for you to know, but you can hire a maintenance staff to take some of the burden off of you.
Make your business an LLC
Structuring your business as an LLC can bring important advantages: It lets you limit your personal liability for business debts and simplify your taxes. Here, you’ll find the key legal forms you need to create a single-member or multi-member LLC in your state, including:
- LLC articles of organization
- Operating agreement for member-managed LLC
- Operating agreement for manager-managed LLC
- LLC reservation of name letter, and
- Minutes of meeting form
Form Your Own Limited Liability Company has easy-to-understand instructions, including how to create an operating agreement that covers how profits and losses are divided and major business decisions are made. You’ll also learn how to choose a unique LLC name that meets state legal requirements and how to take care of ongoing legal and tax paperwork.
Tips And Tricks For Renting Your Own Home
Whether you can’t find a buyer, or you’re just deciding to rent out your home, we wanted to include some tips and tricks for making the entire process as easy and as stress-free as possible.
Pricing Rent Adequately
Depending on your personality, you might feel like you shouldn’t charge that much for rent. It’s important when you’re a landlord to know that you have to make some money. This is why it’s crucial to price your rent according to the area the property is in.
Let’s say you live in Saint Paul, Minnesota. You’ll find that a neighborhood like Highland Park is going to have much higher rent prices than that of a neighborhood like Midway.
If you have a house for rent in Los Angeles, you’ll need to charge more for rent if it’s located downtown, rather than in the outskirts such as Irvine. But how do you know how much rent is for the area you have a property in?
There are a number of ways you can check this; you can look online and see what similar properties are going for, or you can ask around. You may also call real estate agents and see what they would charge a renter for a home like yours.
As long as the mortgage is covered and there is a little on top for you to make an income, you should be good.
Properly Screening Tenants
You already read a little bit above about what it takes to find the right tenant. We want to encourage you to take a few important steps when it comes to finding the perfect tenant.
It is absolutely crucial to perform a background check. This will show you a lot of information about the prospective tenant and can help you decide whether they are a good fit or not.
You’ll also want to pull a credit report. You can easily do this on your own by researching information through credit reporting agencies such as Equifax or Experian. It is important to note that you’ll want to follow the Fair Credit Reporting Act or FCRA when doing so.
On top of that, you’ll want to check their criminal history. Some information may come up related to their criminal history on their background check, but it’s important to do both. You can search state as well as local records online or you can find an agency that will do it for you to get you the information you need.
Lastly, it’s important to check references. This can be something as simple as contacting their employer to see how long they’ve been working there. You can also check references by calling the prospective tenant’s previous landlords and hearing what they have to say.
Writing A Lease
Another thing that is absolutely crucial to do when you are renting out your own home is to have a written lease. Normally, if you were to have an agent, they would help you with this part, but without one it’s up to you to do it.
When you have a lease, it needs to include some specific information so that you and the tenant are on the same page. We’ve included some of the basic things that should be in the lease below:
- How long the lease is or the lease term. This can be month-to-month, 6 months, 9 months or 12 months. As a landlord, the lease term is up to you.
- A security deposit as well as first and last month’s rent
- Rental due dates
- Any additional fee information
- Additional charges such as a parking space
- Who’s responsible for what repairs
- A list of all tenants
- What upkeep the landlord is responsible for, such as lawn care
- Any rules that the tenant needs to follow
- Eviction terms that are clear to understand
- Any pet-related information or rules
- The dates the lease is active
- Anything related to HOA fees
It may seem like a lot of information, but you’d rather have things covered and communicated than not. A lease is a legally binding contract that you and the tenant are required to follow and that is there for the protection of both
Have House Insurance
Another crucial step to renting out your home without an agent is to protect your home with the correct insurance policy. This will be a different policy than the one you had when you were living there.
When you lived in your own home, your insurance was a homeowner’s policy. This will cover things like the structure of the home itself, any damages that may occur to the home or within the home and any belongings that you have inside the house.
When you rent out your home, you’ll need rental home insurance instead, also known as fire insurance. This is absolutely necessary and can save you a lot of money and potential lawsuits in the long run.
Rental home insurance will cover the structure of the house, legal costs, loss of rental income if your tenant doesn’t pay, repairs and fixes along with any medical expenses that may be required.
In addition to you having rental home insurance, you may want to charge a fee for your tenants to have renters insurance or advise them to get renters insurance on their own. This will help to cover their belongings in case something bad were to happen to or within the home.
Hiring Staff
You read a bit about how hiring your own maintenance team can be incredibly helpful. These are employees of yours that will fix repairs if needed and handle all the on-property needs.
You may also want to hire a management company. They will help you not only to find a tenant, but they’ll perform all the tenant screening procedures that are required. This will also keep you emotionally distant from the tenant, which may come in handy if you need to evict them.
Hiring a management team will ensure that you get the rent every month and that your tenants treat your home with care. Whether you’re hiring a maintenance employee or a property manager, it’s important to know that these cost money and will decrease your monthly income.
Be Aware Of Eviction Laws
Lastly, you need to be aware of the eviction laws for your state. If you need to evict a tenant, you’ll likely need an attorney. Sometimes the tenant won’t leave willingly, and you can’t just go into the property and remove them yourself.
The laws vary quite a bit from state to state, so it’s important to be aware of the laws and regulations for where your property is. You should also be aware of the reasons why you can evict someone along with what’s not considered an offense that can lead to eviction.
Eviction can make things quite awkward; if you have the chance, sit down with your tenant and have an adult conversation. Tell them you understand what they’re going through and give them the opportunity to pay rent within a certain number of days or you’ll file an eviction lawsuit.
Let them know that an eviction lawsuit can ruin their credit score and any possible chance for them to get a loan or mortgage in the future. Be kind when doing this, but also be stern and straightforward.
Final Words
Hopefully, this has taught you everything you need to know about how to rent your house without an agent. It may require a bit more work on your behalf, but it will also save you a ton of money in the long run.
Renting out your home is a great way to make extra income each month. There are plenty of things you can do to take some of the responsibility off your shoulders, such as hiring a maintenance employee.
Make sure you’re aware of all eviction laws and that you have everything covered in the lease. Also, be sure that the tenant has read the lease and has the option to ask questions if they have any about the lease.
Whether you hire a real estate agent to help you rent out your property is up to you as both situations (renting with the help of an agent and without one) have pros and cons you need to weigh up.
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