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In this episode of Your Landlord Resource Podcast, Kevin and I are diving into what it really means to be a “digital landlord.” We’ll walk you through how using technology in your rental business can save you hours each month, keep you organized, and improve both your experience and your tenants’ experience.
From e-signing leases to screening tenants in under a minute, we cover the practical tools that make self-managing easier. We’ll compare software options by breaking down their features, costs, and when each might be the right fit.
We’ll also talk about the real differences between paper-based and digital systems—what you gain in efficiency, what you might lose in hands-on control, and how to find the right balance for your style. Plus, you’ll hear our honest take on what we use, why we use it, and even where we still stick to paper.
Whether you own one unit or a growing portfolio, this episode will help you understand the benefits, drawbacks, and opportunities of going digital as a landlord.
What You’ll Learn in This Episode
- The difference between paper-based and digital landlord systems
- Tools for leases, rent collection, tenant screening, and communication
- How digital tools can save you time and protect your records
- Costs to consider before going fully digital
- Why some landlords still prefer paper systems
🔗 Links & Resources Mentioned
The Fair Housing Institute, 15% OFF with code YLR2025
Learn more about EZ Landlord Forms, Turbo Tenant, Rent Redi, DoorLoop, Hemlane, & Avail.
Tenant Screening Software we recommend: SmartMove & TenantAlert
Our Accounting Software: QuickBooks
Best product for de-icing rental walkways: Safe Paw
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By Stephen Michael White
Landlords must distinguish between tenants, who sign leases and bear financial responsibilities, and occupants, who reside without these obligations. This understanding is crucial for effective property management and avoiding legal complications.
Key Takeaways:
- Tenants are lease signatories with financial obligations and rights, while occupants reside in the leased space without these responsibilities.
- Tenants handle rent and repairs, can evict occupants, and receive move-out notices.
- Occupants’ status can change at the landlord’s discretion.
- Understanding the tenant-occupant distinction is crucial for landlords to manage properties effectively.
Renting property is highly lucrative, but knowing your clients ensures success and helps you avoid pitfalls.
Many landlords use the terms “tenant” and “occupant” to refer to the same person(s), yet that shouldn’t be the case. So, what’s the deal with the tenant vs occupant labels? And how does it impact your enterprise?
What’s The Difference Between Tenant And Occupant?
A tenant is an individual who has signed a lease agreement and is legally responsible for rent and property maintenance. On the other hand, an occupant lives in the property without being part of the lease agreement and does not have the same financial obligations or legal rights as a tenant. This distinction is essential for landlords to manage their properties effectively.
A tenant or tenants are those who sign a lease contract with you. They carry the associated financial obligations, such as rent payments and repairs. Conversely, they also enjoy the privileges and concessions you provide, including waivers.
An occupant, on the other hand, resides in the tenant’s leased space with your permission. These could be family members, a friend, or their significant other. They don’t pay the rent, are not necessarily on the lease, and are not entitled to tenant’s rights under the law.
An ‘approved occupant’ refers to an individual who resides in the leased property with the landlord’s permission without being a signatory on the lease agreement. Approval of an occupant is a formal acknowledgment by the landlord, allowing someone other than the tenant to reside in the property. This status often requires the landlord to consider various factors, such as the occupant’s relationship to the tenant and their impact on the property. Being an approved occupant means living in the rental space under certain conditions set forth by the landlord, which may include limits on the duration of stay and adherence to property rules.
Who Is Considered To Be An Occupant?
Who you consider an occupant is entirely at your discretion. However, children and minor dependents are occupants by default because the law doesn’t recognize their agreement to a contract as legal and binding.
As the landlord, you can deny anyone of legal age (18 years and older) an occupant status. You may designate them as tenants subject to the same screening process as the primary contract signatory. This designation automatically makes them equally responsible for a tenant’s obligations and the advantages of the status.
Occupants should be aware that their rights can vary based on local laws and the specific terms of the lease agreement with the tenant. While occupants are not primary lease signatories and don’t bear the same financial responsibilities as tenants, they have certain protections. These may include the right to a habitable living environment, privacy, and protection against unlawful eviction.
Who Pays The Rent?
The tenant. Even if occupants in their space pay rent to them, only the tenant is obliged to pay the rent directly to you, the landlord.
This type of subleasing arrangement is commonplace, and the tenant is not obligated to disclose such deals to you. Your authority is limited to accepting and rejecting someone living on your property. So, you may not run background checks on prospective and existing occupants.
What About Repairs?
From the pre-occupancy inspection to maintenance repairs to the replacement of damaged property, the tenant holds sole accountability. And yes, this rule stays even when neglect or misuse is on the occupant’s part.
Of course, you can assume minimal fixes, but negotiations beyond those should be only with the tenant. These include peripheral agreements like keeping pets, performing alterations, and hosting parties in the leased space.
These provisions must be spelled out clearly in your contracts with your tenants if only to avoid future misunderstandings that could lead to its untimely ending. Remember, it’s easier and cheaper to maintain old tenants than to get new ones (most of the time).
Can A Leaseholder Kick An Occupant Out?
Absolutely! As the leaseholder, the tenant is legally the temporary “owner” of the property leased. Just as you have permitted an occupant to stay in the tenant’s space, you can’t stop your tenant from evicting anyone living in their leased space.
However, a caveat exists: when the occupant doesn’t want to leave. Many states protect the right of occupants to remain in a leased space even if you didn’t consent to their stay, especially when they’ve been living there for a while.
This messy state of affairs can lead to a legal battle of leaseholder vs occupant. You may even be embroiled in it if the tenant enlists your help evicting the problematic occupant.
As the landlord, your best solution in a legal occupant vs tenant conflict is to evict everyone living in your rental. Alternatively, you may agree with the tenant to prematurely terminate your contract, forcing all occupants to vacate the premises. And if you’re still interested in taking in the tenant again, you can draw a new lease.
Another important exception: A tenant cannot evict a minor occupant.
Is A Family Member Considered A Tenant?
If you allow your elderly parent or adult child, sibling, or any relative to live in your property free of charge, they are considered an occupant.
Sometimes, a tenant shoulders all obligations but doesn’t take up residence in your property. Instead, it’s their family member who lives there. This situation usually happens with students whose parents rent an apartment for them. In such cases, the resident is an occupant, not a tenant.
Who Is Served The Notice Of Moving Out?
Usually, a lease agreement requires both parties to notify the other ahead of time if they wish to sever the contract earlier than the expiration date of the lease term. This task relies only on the tenant. An occupant may move out any time they want.
You’re duty-bound to remind your tenant 30 to 60 days before their lease expires. If they’re not the ones living on your property, you should send out a notification by registered mail.
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Differences Between Tenant And Occupant FAQs
Landlords, tenants, and occupants have asked us about their privileges and obligations regarding a rental. Below are some of them, so check them out. You might learn something valuable to your business.
What Happens When A Minor Occupant Turns 18 Before The Lease Term Expires?
Typically, you don’t need to change the occupant’s status to a tenant even if they’ve already reached legal age. This is because the common lease term is 12 months, a relatively short time to warrant the extra work required to revise a contract.
Also, an 18-year-old occupant may only stay put for a short time. They could go to college in a different place or pursue independence from their parents.
If you believe liability could be a possible issue soon, you can draft a co-tenant addendum to your tenant’s lease. Keep in mind, though, that this needs the consent of all parties involved.
What Is the Difference Between an Occupier and a Tenant?
The tenant is the person who signs the lease contract with you. If they live in the rental, they are the “occupier.” But if someone else resides in the space, the tenant is not the occupier.
Remember that an “occupier” differs from an “occupant.”
Simply put, the occupant physically occupies the property, while the occupier has the right to occupy it – whether they live there or not. Technically, a tenant can be an occupier but not an occupant. On the other hand, an occupier and occupant could be the same person, but neither is the tenant unless they signed the lease.
Can An Occupant Change Status To Tenant?
Yes, but it is entirely up to you. Of course, your primary concern should be your legal protection and your property’s welfare.
The best way to do it is to treat the occupant as a new lease applicant. They should undergo the same process as the current tenant, and you must conduct the same background checks.
If they pass your standards and tests, you have two options for the next step:
- Modify the original agreement by adding the occupant as a named tenant. Terminate the current agreement and create a new one with both tenants as co-signatories.
A word of caution: Should the occupant not meet your standards, and you refuse their request to be a co-tenant, you must prepare for possible unpleasant consequences.
It could be as mild as your current tenant dogging or arguing with you or as messy as making your life difficult through late payments and, eventually, deciding to terminate the lease prematurely.
Where Does The Security Deposit Go?
If you and your tenant mutually decide to enter into a new contract, you can carry the security deposit over to the new lease.
However, if your tenant doesn’t wish to renew their lease, you must abide by the terms stated in your contract and state and country laws. Often, this money covers unpaid utility bills and property damage due to abuse or neglect.
Your tenant can settle their bills and repair damages in exchange for getting their security deposit in full. Otherwise, you need to list these items in detail with their corresponding costs.
The total will then be subtracted from the security deposit, and the remainder should be returned to your tenant. The occupant isn’t entitled to any amount in this deposit, even if they claim to have shelled out a portion.
Important note: If your tenant opts for renewal and wishes to add the occupant as a co-tenant, you must consider the other person as a new tenant. They will undergo the application process, and you will conduct a background check.
In this case, you need to spell out the security deposit terms. Will it be returned to the original tenant? If so, how will the co-tenants share the payment for the security deposit in the new lease? Or do they agree to transfer it to the new contract? If so, what happens to it when the lease term expires?
How Does A Tenant’s Death Or Abandonment Affect The Occupant?
A property is considered abandoned when the tenant leaves without paying rent. Depending on your area, this abandonment period is determined differently, so you should consult a lawyer on what applies to you.
In this case, you can terminate the lease and rent the space to a new tenant. As for the occupants, they have no choice but to vacate the premises unless they want to take over the lease. Note that the law requires you to give them ample time to prepare for the move.
The same goes for when the tenant dies before their lease expires. While the process is more complicated in this case, it has more to do with the tenant and their possessions than with the occupant.
As with abandonment, you may offer a new lease to the occupant. If they refuse, you have no contractual responsibility or liability to them. Thus, you can serve them a notice to vacate the property.
Should The Landlord Get Involved In Tenant-Occupant Fights?
Disagreements are inevitable, even within families or among friends living in the same apartment. You can prevent escalations to full-blown altercations by giving each tenant printed-out guidelines on appropriate behavior in your building or compound.
But what do you do when a fight still occurs?
If it’s a one-time thing, and no one was hurt or no property was damaged, you can let it go.
However, if it becomes a habit, you can talk to your tenant and explain how their actions affect the neighborhood. If something else is needed, serve them written notices to improve their conduct.
If this solution is still ineffective, you may serve them an eviction notice. The letters you send them will be your supporting documents.
So, Do You Have A Tenant Or An Occupant?
Your lease agreement with each tenant must clearly state the occupants in the property, whether temporary or permanent. Aside from your mandate to accept or deny their presence, you can also offer visiting privileges within a period, say, 10 to 15 days.
Occasionally, your tenant would have someone staying for the night or over a weekend due to an emergency or unforeseen circumstance. You may include a clause in your agreement that outlines your policies in such situations.
Taking these precautions may require extra effort but could save you many headaches later.
So does open communication. It pays to establish a good relationship with your tenants from day one. This way, they’ll be confident and comfortable telling you everything that concerns you about their residence. After all, it still is your property.
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What to Know Before Hiring a Collection Agency for Unpaid Rent
Can Landlords Send a Tenant to a Collection Agency?
Yes, Landlords in the US have the legal right to send a Tenant to collections to recover unpaid rent. However, this process must adhere to specific steps and legal requirements. It’s essential for Landlords looking to hire a collections agency for unpaid rent to consider it a last resort, only after exhausting all other means of resolving the issue amicably.
Before proceeding with a rent collections agency, Housing Providers should first attempt to communicate with the Tenant and seek a resolution. This could involve discussing payment plans, mediating disputes, or exploring other alternatives to resolve the unpaid rent issue. Collection agencies should only be engaged when these efforts prove unsuccessful, and Landlords should remain aware of both their rights and the rights of the Tenant throughout the process to ensure compliance with US laws.
But here’s what many Landlords don’t realize: you don’t actually need to go through a collection agency to recover unpaid rent. With FrontLobby, Landlords can report rental debt directly to the Credit Bureaus, no court order, judgment, or third party required.
Alternatives to Hiring a Collections Agency for Unpaid Rent
While enlisting the services of a collections agency for unpaid rent is an option, Landlords and Property Managers should consider alternative avenues for resolving unpaid rent issues:
A. Mediation: Mediation offers a less confrontational approach to dispute resolution. A neutral third party can facilitate communication between the Landlord and Tenant, fostering an environment where both parties can collaborate to find a mutually acceptable solution.
B. Payment Arrangements: Recognizing that some Tenants may genuinely wish to fulfill their obligations but face financial challenges, Landlords can explore the possibility of creating customized payment plans. These plans allow Tenants to gradually catch up on their rent over an extended period, reducing the burden on both parties.
C. Legal Recourse: As a final recourse, Landlords can initiate legal proceedings to evict a non-compliant tenant and seek a court judgment for unpaid rent. However, it’s essential to be aware that this process can be protracted and may entail substantial legal expenses.
D. Credit Bureau Reporting (The Modern Alternative): Landlords no longer need to rely on traditional Tenant collection agencies to recover unpaid rent. With Credit Bureau Reporting, you can directly report rental debt to the Credit Bureaus yourself.
Unlike legal action or agency collections, this method requires no court order, no judgment, and no ongoing commission fees. It’s a one-time flat fee, and the debt can remain on the Tenant’s credit report for up to six years, motivating faster resolution.
Reporting unpaid rent to Credit Bureaus has proven to be one of the most effective ways to recover what you’re owed, while helping foster a culture of accountability in the rental industry.
Of all the alternatives to hiring a collection agency, Credit Bureau Reporting stands out as the most direct and cost-effective.
Comparison Chart: Collection Agency vs. Credit Bureau Reporting
Requires Court Order: Collection Agency – Often / Credit Bureau Reporting – No
Timeline: Collection Agency – Weeks to Months / Credit Bureau Reporting – Immediate Reporting
Cost: Collection Agency – 30-50% of amount recovered / Credit Bureau Reporting – Flat Fee
Stays on Credit Report: Collection Agency – Sometimes / Credit Bureau Reporting – Up to 6 Years
Who Reports the Debt: Collection Agency – Third-Party Agency / Credit Bureau Reporting – You (the Landlord)
Understanding the Basics of Tenant Collections
Understanding the basics of Tenant collections is pivotal for Landlords and Property Managers when faced with unpaid rent issues. Tenant collections entail the process of pursuing overdue rent payments from tenants through the involvement of a rent collections agency. These specialized agencies possess the expertise and resources necessary to effectively track down and recover outstanding rent on behalf of the Landlord. This approach provides Landlords with a structured and professional means of addressing rent arrears, aiming to mitigate financial losses while adhering to the legal framework.
Involving a Tenant collections agency should be considered when Landlords have exhausted all other avenues for resolving unpaid rent issues and when specific conditions are met. A few situations in which Landlords may opt to involve a Tenant collections agency include:
Multiple Failed Attempts: When a Tenant consistently fails to pay rent despite multiple reminders and negotiation attempts, it may be time to engage a collections agency. Landlords should ensure they have made reasonable efforts to communicate with the Tenant and resolve the issue amicably.
Clear Documentation: Landlords should have thorough documentation of the unpaid rent, including copies of demand letters, rent receipts, and records of communication with the Tenant. Clear and well-documented evidence is crucial when involving a rent collections agency.
Tenant’s Financial Capability: Landlords may consider involving a rent collections agency when they believe the Tenant has the financial means to pay but chooses not to. It’s important to assess the Tenant’s financial situation before taking this step.
How to Report a Tenant to a Collection Agency?
Reporting a Tenant to a rent collection agency involves a series of specific steps. To ensure the process is conducted legally and effectively it is always best to work with a professional. Additionally, it’s essential to be aware of Tenant rights and legal requirements to ensure a lawful and fair collections process.
Start by identifying potential rent collection agencies through online searches, referrals, or recommendations from industry associations. Create a shortlist of agencies that appear reputable and experienced in Tenant collections. Once you’ve created a shortlist, verify the licensing and accreditation of the agencies in your specific jurisdiction. This ensures that the agencies adhere to legal requirements and ethical standards in debt collection.
Once received, carefully review the terms and conditions outlined in the agency’s contract. Ensure that critical details, including fees, timelines, and the scope of services, are clearly defined. This should include the agency’s communication and reporting processes. They should provide regular updates on the progress of rent recovery efforts. You may choose to seek legal counsel if necessary to fully comprehend the contract.
Before choosing a final rent collection agency, don’t hesitate to request a list of references. Contact these references to gain insights into their experiences and outcomes when working with the agency.
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Steps Landlords Should Take to Send a Tenant to Collections
- Review Lease Agreement: Start by reviewing the lease agreement you have with the Tenant. Ensure that it clearly outlines the terms and conditions related to rent payments, late fees, and any penalties for non-payment of rent. Understanding the lease terms will help you establish the basis for the collection process.
- Send a Demand Letter: Before you send a Tenant to collections, send a formal demand letter to the Tenant requesting payment for the unpaid rent. This letter should include details such as the amount owed, the due date, any late fees or interest charges specified in the lease, and a reasonable timeframe for the Tenant to respond.
- Document All Communications: Maintain clear and thorough records of all communications, including copies of the demand letter, rent receipts, emails, and any responses from the Tenant. These documents will serve as crucial evidence if the matter proceeds to collections.
- Evaluate Tenant’s Response: If the Tenant responds to your demand letter and expresses a willingness to pay, consider negotiating a payment plan that allows them to catch up on their unpaid rent incrementally. Be sure to document the terms of the payment plan in writing.
- Select a Reputable Rent Collection Agency: If all other efforts to recover the unpaid rent fail, choose a reputable collection agency that specializes in Tenant collections. Research and ensure that the rent collection agency complies with all relevant debt collection laws, such as the Fair Debt Collection Practices Act (FDCPA) in the United States.
The Average Amount of Debt/Case
in Collections is $366.
Bonus Tip: When selecting a rent collection agency, pay attention to how much their average collection amount is. They may handle a lot more cases if the numbers are small.
Understanding the Rights of Tenants Facing Collection
Understanding the rights of Tenants facing collection is paramount to maintaining fairness and transparency in the rent recovery process. When a Tenant finds themselves in a situation where a rent collection agency is involved, it’s essential to recognize that they have specific rights and protections under the law. These rights may vary depending on the jurisdiction, but some fundamental principles apply universally.
First and foremost, Tenants have the right to fair and respectful treatment throughout the collections process. Rent collection agencies are legally obligated to adhere to debt collection laws, such as the Fair Debt Collection Practices Act (FDCPA) in the United States, which prohibits practices like harassment, threats, or false representations.
Tenants also have the right to receive clear and accurate information regarding the debt they owe, including the total amount, the creditor’s identity, and the procedure for disputing the debt. Furthermore, Tenants can dispute the validity of the debt in writing within a specific timeframe, prompting the rent collection agency to provide evidence of the debt’s legitimacy. Understanding these rights empowers Tenants to protect themselves from unfair or abusive collection practices and ensures that the process remains equitable for all parties involved.
Best Practices to Avoid Tenant Disputes
In some cases, disputes arising from unpaid rent can be attributed to misunderstandings or disagreements. To proactively prevent Tenant disputes and maintain a harmonious Landlord-Tenant relationship, Housing Providers can implement several best practices.
Enhanced Tenant Screening: All Tenant Screening processes should include an application process, reference checks and pulling a Credit Report on a prospective Tenant. Thoroughly vetting prospective tenants before they move in can reduce the likelihood of needing to hire a collections agency for unpaid rent.
Clear and Open Communication: Foster transparent communication channels with your Tenants regarding rent expectations and any modifications to rental agreements. Ensuring that any changes are discussed and documented underscores the significance of dialogue in averting misunderstandings.
Regular Property Inspections: Conduct routine property inspections to promptly identify and address maintenance issues. These inspections serve a dual purpose: preserving the property’s condition and providing an opportunity to address any concerns or grievances Tenants may have regarding maintenance or living conditions.
Monthly Rent Reporting to Credit Bureaus: Implement a system for reporting monthly rent payments to Credit Bureaus. Rent Reporting encourages Tenants to prioritize timely rent payments, as a positive payment history can contribute to building their credit.
By integrating these strategies, Housing Providers can take proactive steps to avoid Tenant disputes, cultivate positive Landlord-Tenant relationships, and potentially circumvent the need for more adversarial and costly measures such as engaging a collection agency for unpaid rent.
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Hey there landlords—this week’s episode is packed with everything you need to know about the new 2025 landlord-tenant laws impacting your rental business. Whether you manage one rental or a dozen, staying ahead of legal changes is the best way to protect your property and stay professional.
Kevin and I break down California’s extensive new rules—like the expanded application screening rules, security deposit documentation requirements, and a major update that gives tenants more time before eviction proceedings. We also highlight key changes in Washington, D.C., Massachusetts, Rhode Island, Illinois, and Texas, including rent control, broker fee bans, and squatter removal laws.
Even if your rentals aren’t located in these states, many of these laws are popping up across the country—and they’re often just good business practice anyway.
So, give this one a listen so you can be ahead of the game and familiar with them when your state decides to take action and enact them.
✅ What You’ll Learn in This Episode:
- 2025’s most impactful landlord-tenant law updates by state
- What California landlords must do differently now
- Why some “junk fees” are no longer legal
- How to protect your security deposits with photos and documentation
- What steps to take before pursuing an eviction
🔗 Links & Resources Mentioned
Free Download of Our Prescreening Questions
Stainless Steel Scratch Repair: Scratch B Gone
Re-Key Locks with Ease using the KwikSet Re-Key Kit
Podcast Episode 38: Tenant Buyouts
Podcast Episode 44: SB721
Podcast Episode 90: SB721 Update
Podcast Episode 69: Squatters Part 1
Podcast Episode 70: Squatters Part 2
EZ Landlord: https://www.ezlandlordforms.com/?ref=ylr
Law Updates for: California, Washington State, Texas, Rhode Island, Illinois, Massachusetts, Washington DC
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!
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✔️Course Waitlist: From Marketing to Move In, Place Your Ideal Tenant
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By Ryan Squires
What is a rent payment app and why does it matter?
As an independent landlord, managing rentals without support can be a real challenge. Constant maintenance requests can put a strain on your time and energy, managing tenants can be a persistent headache, and when a critical situation pops up, you can quickly find yourself deep in the weeds.
Luckily, there are ways that you can streamline your operations, especially with arguably the most essential part of being a landlord: collecting rent.
A rent payment app can be a landlord’s best friend. It cuts down on the time spent tracking down late payments, simplifies the process for renters, and keeps the cash flowing directly into your account.
Online rent collection is essential in the modern property rental industry.
In this guide, we’ll review the things you need in a solid rent payment app, including essential features, how to get started, and why TurboTenant is the best choice for your rent collection needs.
Let’s get into it.
What to Look for in the Best Rent Payment App
Collecting rent from your tenants shouldn’t make you feel like you’re a loan shark, hunting someone down for a check for days on end. By using a rent payment app, you’ll modernize your operations in a way that creates an easy flow of cash from your tenants directly into your accounts and fosters a positive experience on both sides.
Tenants will appreciate how easy it is to stay on top of their payments, and you’ll find more time to spend taking care of your properties and even finding new ones to invest in.
When deciding on the perfect solution, look for one with a robust feature list that also offers additional incredibly useful tools to enhance your landlording experience.
Here’s what to look for:
Free for landlords. This is a no-brainer. Property management software that saves you time and money is the kind of “best of both worlds” tool anyone can get behind.
Multiple payment methods. When you give your tenants more ways to pay, you minimize the chance of missed or forgotten payments.
Allows split rent payments for roommates. A split rent payments app is an ideal solution for units that lean towards roommate scenarios. Each tenant pays their share directly, eliminating the need to track down multiple individuals for a single full rent payment.
Simple, transparent fee structure for tenants. A simple, clear description of the fee structure for each payment type allows your tenant to feel more comfortable and understanding of what they’ll be paying each month.
Rent reporting for tenants. Regular, on-time payments boost a tenant’s credit score, which incentivizes them to pay on time every single month.
Automated reminders, receipts, and late fee automation. Landlords can set up automatic reminders that are sent to tenants when a rent due date is approaching, and they’ll receive a detailed receipt immediately after payment. Landlords can automatically assign late fees to tenants if they fail to pay the balance within the specified grace period.
Mobile and desktop access. Why use a rent payment app that only works on one platform? Find a tool that gives your tenant multiple ways to interface with the tool.
Easy to set up, even for tech-adverse landlords. It’s not a time-saver if it takes hours to get it working every time you house a new tenant.
Why TurboTenant Is the Best Rent Payment App for Independent Landlords
Of all the rent payment apps available today, TurboTenant is uniquely positioned to be the best option for small, independent landlords seeking effective property management solutions that save them money and time daily.
TurboTenant is designed explicitly for small landlords, offering best-in-class tools and features that make property management easier than ever before.
Some of TurboTenant’s key features include:
- Free rent collection. While some apps choose to charge the landlord for this tool, landlords will never pay a dime for collecting rent from their tenants.
- TurboTenant also functions as a split rent payments app, easily allowing roommates to pay only their share each month, with the funds immediately associated with the unit within the platform.
- Tenants can pay via ACH or card, providing options to make it easy for them.
- When tenants pay their rent on time, it helps their credit as credit reporting occurs directly through the app, with no extra work needed by the landlord.
- The TurboTenant platform is sleek, intuitive, and easy to use and set up, with all your necessary tasks and tools combined into one pleasing dashboard.
- Find online lease agreements, coordinate maintenance, and even run tenant background checks all from one app, removing the need to bounce between applications and software to run your business.
- As an all-in-one solution, TurboTenant can double as rental property accounting software. It eliminates the need to retrofit generic programs not designed for landlords and consolidates all your financial and tracking tools in one place.
TurboTenant is free for landlords, incredibly simple to set up and start using right away, and will help you streamline your day-to-day workflow immediately.
A landlords one stop shop for tenant management…for FREE
You can’t beat free and the only time you pay is if you want to purchase a lease or have expedited rent deposits. Most everything else costs zip, zero, zilch.
How TurboTenant Stands Out From Other Apps
Many rent payment apps are available, along with pricey property management software that’s often difficult to set up. For landlords, this can lead to headaches from steep learning curves and unexpected fees.
Here are some of the most common drawbacks to using other software on the market:
- Unexpected or non-refundable fees. Pricing should always be transparent and up-front, eliminating worry over what the final price tag might be.
- Monthly fees. Many other platforms are expensive to use, no matter how many units you own.
- Some platforms won’t allow for split payments. Roommates appreciate the ability to pay their shares separately, which reduces the need for someone to collect all the funds before paying rent.
- Some apps are geared much more towards tenants than landlords, lacking obvious features that benefit both parties.
- Difficult to use. A lot of apps value quantity over quality, opting for a ton of hard-to-use features that aren’t worth the time to learn.
The goal of a solid property management solution should be to make a landlord’s life easier, not harder. TurboTenant has been built for landlords from day one, only thinking about ways to improve your efficiency, while not breaking the bank. TurboTenant is feature-rich but straightforward to use, and you’ll notice the difference immediately.
How to Get Started with TurboTenant’s Rent Payment App
To prove that TurboTenant is the best and easiest rent payment app on the market, let’s walk through the setup process so you can see for yourself.
- Sign up for a free account.
- Add your rental property, fill in the relevant details, and connect your accounts.
- Select or create a lease for the attached property.
- Invite your tenants, who will then create their own accounts, and add them to the unit.
- Set the rent due dates, amount, and payment methods you’ll accept, including ACH and card payments.
- Let TurboTenant do the rest!
Collecting rent online takes less than 10 minutes to set up, and after a quick review by our team, you’ll be ready to start accepting online payments. You’ll also be able to make some adjustments to how you collect rent, like enabling partial payments, automatically assigning late fees, sending rent reminders, and automatic payments.
While you’re poking around the TurboTenant dashboard, you’ll also be able to schedule and track maintenance requests, gain access to online lease agreements, communicate with your tenants directly through the app, and a ton more.
Final Thoughts: With the Right App, You’ve Got This
TurboTenant will never replace the human experience; you’re a capable landlord who cares about your tenants and their experience in your units. But TurboTenant does help you take landlording to the next level by providing the tools you need to become more efficient and profitable.
TurboTenant isn’t just a rent payment app; it’s also a split rent payments app, giving you complete control over how you collect rent, stress-free, from your tenants. It’s automated, secure, and will give you the peace of mind to know that your units are safe.
So, create your free TurboTenant account today and start collecting rent the easy way.
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Provided by the Fair Housing Institute
When recession fears rise, budget cuts often follow—and education directors are being asked to make hard choices. Training programs frequently top the list of cuts, especially those perceived as non-essential or deferrable. At first glance, trimming fair housing training may seem like a logical decision. But beneath the surface, that cut often becomes a costly shift—moving risk and liability into a company’s blind spot.
Fair housing training isn’t just a compliance checkbox; it’s a core part of operational risk management. Skipping or delaying it may offer short-term budget relief but open the door to long-term financial exposure. Companies often realize too late that the cost of resolving a single fair housing complaint can far exceed the initial cost of consistent training.
The Real Cost of Non-Compliance
Across the property management industry, professionals who handle internal audits and compliance reviews regularly see the same cycle: organizations forgo training, assuming they can circle back later. But when a complaint is filed—often months or years down the line—they find themselves facing expensive investigations, attorney fees, staff disruptions, and sometimes public scrutiny. By then, the damage is done.
Many still assume that fair housing complaints are rare. The truth tells a different story. For example, just in 2021 alone, over 31,000 complaints were filed. And while HUD may be the most well-known agency tied to enforcement, investigations also come from the Department of Justice, state agencies, advocacy groups, and private law firms. If one entity doesn’t take action, another often will.
Beyond the Legal Fees: The Ripple Effect
It’s easy to focus on penalties and settlements when thinking about the consequences of a fair housing violation, but those are only part of the picture. The internal ripple effect can be just as damaging. Investigations pull employees away from their roles for interviews, document collection, and legal prep—hurting productivity and morale. Even a single investigation can stretch resources to the breaking point for small to mid-sized companies.
There are also reputational risks. Even if a company settles or wins a case, the process can erode trust with residents and staff. That’s a hard cost to quantify, but it’s one that smart companies take seriously—especially in competitive markets where word travels fast.
Can Insurance Carry the Load?
Some organizations believe they’re covered because they have business insurance, but policies vary widely. Not all include coverage for fair housing claims; even when they do, the support provided might fall short. Insurance carriers often assign their own legal counsel—professionals who may not specialize in fair housing law. The result is a technically “covered” claim that’s defended with minimal insight or strategy.
This is not to say insurance is irrelevant. It’s a key part of a broader risk management plan. But it’s not a substitute for prevention—relying on it as the only line of defense can lead to more expensive outcomes in the long run.
We use QuickBooks daily in our rental property business!
It’s used to invoice tenants for their rent, track expenses by property and unit number, and our tax advisor can log on anytime to get information he needs for processing taxes or analyzing our data for goal setting meetings!
QuickBooks is the #1 accounting software for small businesses, and today you can take advantage of 30% off your first 6 months of QuickBooks Online using our exclusive Business Affiliate link.
A Smarter Strategy for Tight Budgets
So how can property management companies protect themselves when money is tight? The answer is smarter—not necessarily more expensive—training. Many firms are adopting online, on-demand training programs that allow teams to stay current without pulling them away from day-to-day responsibilities.
Rather than sticking with the same course year after year, effective training plans now rotate topics, address real-world scenarios, and incorporate lessons learned from recent case law or enforcement trends. This approach reinforces fair housing principles while keeping the material relevant and engaging for staff.
Make Compliance Part of the Culture
Training should begin during onboarding, but it shouldn’t stop there. Companies that consistently incorporate fair housing education into their culture tend to stay ahead of risk. This might include short refreshers, policy reminders, or targeted sessions on emerging issues. The goal is to create an environment where compliance is second nature—not an afterthought. In a challenging economy, the temptation to cut training is understandable. But some corners, when cut, come back to cost more than they save. Fair housing training is one of those corners. It’s not just about staying compliant—it’s about staying in business.
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As landlords, navigating sensitive topics like firearms in rental properties can feel overwhelming. In this episode of the Your Landlord Resource Podcast, Kevin and I tackle the complex issue of whether landlords can legally restrict tenants from having guns on their rental property.
We break down state-specific laws, highlight Supreme Court cases like Heller and McDonald, and share real landlord liability case examples. Whether you manage single-family homes or multifamily buildings, it’s crucial to understand how your lease language, state laws, and liability insurance all play a role in your decision.
We also talk through practical lease clause options—from restricting weapons in common areas to setting storage requirements inside units. Plus, we share feedback from real tenants (hello Reddit thread!) on how they feel about gun restrictions in rentals.
If you’ve ever wondered how to balance tenant rights, safety, and your own liability, this episode is for you.
✅ What You’ll Learn in This Episode:
- Which states allow or restrict landlords from banning firearms
- How federal cases, like Heller and McDonald, influence tenant gun rights
- The pros and cons of restricting guns in your rentals
- Example lease clause language you can use
- Real-world landlord liability risks (and how to protect yourself)
🔗 Links & Resources Mentioned
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👉 Learn more about EZ Landlord Forms and Turbo Tenant
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Written by Emily Koelsch
Bad rental outcomes are something new and seasoned investors dread. When it comes to bad outcomes, evictions are a worst-case scenario for most Landlords. Evictions are expensive, time-consuming, and stressful.
For most owners and property managers, they’re a last resort after missed rent payments, ongoing Lease violations, or illegal or dangerous activity on the property.
The bad news is that evictions are more expensive than most Landlords realize. But, the good news is that the right systems can dramatically reduce the risk of evictions and other bad rental outcomes.
To help you avoid this Landlord nightmare, here’s an in-depth look at how costly evictions are and some tangible ways to reduce the risk of having to evict a Tenant.
Required Steps in the Eviction Process
To appreciate how costly evictions are, it’s helpful to understand the required steps in the eviction process. While specific requirements vary from state to state, the general process for filing an eviction includes:
- Providing your Tenant with the required notice. Most evictions are the result of either nonpayment of rent or a Lease violation. Before filing an eviction, Landlords must issue a Notice to Quit that states the reason the notice is being sent and gives the Tenant a specific amount of time to either pay rent, cure the Lease violation, or vacate the property. The notice period varies from state to state but is usually between 3 days and 14 days.
- If the Tenant fails to pay rent, cure the Lease violation, or vacate the property after the required notice period, the next step is filing an Eviction Complaint with the local court. In addition to filing the Complaint, you must service the Tenant with the Complaint and a Summons.
- The Tenant can either answer the Complaint or wait to respond at the hearing.
- After a scheduled hearing, the judge will rule in favor of either the Landlord or Tenant. If the judge rules in favor of the Landlord, you’ll receive a Court Order or Warrant of Eviction stating that the Tenant has to vacate the property by a specific date.
- If the Tenant does not comply with this Court Order, you can ask a local law enforcement officer to remove the Tenant and their possessions from your property.
- Once the Tenant is removed from the property, the Landlord must change the locks, remove all personal property of the tenant, make necessary repairs, and deep-clean the property. After the property is cleaned and back in good condition, the Landlord can list it and begin searching for a new Tenant.
A Breakdown of Eviction Costs for Landlords
The entire eviction process usually takes around 2-3 months and costs landlords an average of around $3,500. That said, the cost of evictions can range from around $2,000 to $10,000.
Here’s a breakdown of expenses Landlords face during a standard eviction:
Legal Fees
We always recommend that Landlords hire an experienced local attorney to handle their eviction. While this can be expensive, it’s worth the cost to ensure that your eviction is handled correctly, that you’re successful, and that you comply with all laws.
The legal fees for an uncontested eviction generally start around $500. However, if your case is contested, these fees can easily be around $1,000-$2,000.
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Court and Filing Costs
Every state has fees for filing an Eviction Complaint. These range from $15 to $150. In addition, there are court fees, which are usually around $50. Landlords also must pay a service fee to have the Summons served on the Tenant, which ranges from $30 to $150.
If law enforcement is required to remove the Tenant after a Warrant of Eviction is issued, this is an additional fee that usually ranges from $50 to $500.
Unpaid Rent
Past due rent is the most common cause of eviction proceedings. Whatever the reason for your eviction, likely, you won’t receive any rent payments during the eviction process. Eviction proceedings generally take around 2 to 3 months.
To allow time for all steps of the eviction process plus time to prepare the property for a new Tenant, Landlord should anticipate a minimum of three months with no rent payments. Using the average rental price in the United States of $1,554, that would be a loss of around $4,662 for the average Landlord.
Property Repairs and Turnover Costs
Once the Tenant is removed from the property, the Landlord has to:
- Change the locks ($150)
- Make necessary repairs, which can range from a couple of hundred dollars to thousands of dollars depending on the condition of the property
- Deep clean the property ($200 – $500)
In some states, Landlords are also required to store any personal possessions left behind after an eviction. This means additional work and fees for Landlords.
It’s worth noting that, in addition to the many tangible expenses of evictions, they are time-consuming and stressful for Landlords to deal with. Evictions mean lots of additional work, hours, and nuisances for Landlords.
Be Proactive About Reducing the Risk of Evictions
Given how difficult and expensive evictions are, real estate investors should be proactive about preventing evictions. Fortunately, the right property management systems can drastically reduce the risk of bad rental outcomes.
Here are three steps to help you avoid evictions:
- Always screen tenants. Effective tenant screening ensures that you only rent to qualified applicants who will pay rent on time and take care of your property. Screening all applicants and only renting to qualified applicants is the best way to prevent evictions.
- Use a detailed Lease Agreement that provides clear guidance on rental policies, property rules, and late fees. At move-in, go over the Lease with your new Tenants and ensure they understand all Lease terms.
- Be consistent about enforcing the Lease and proactive if a Tenant violates the Lease. If you’re consistent about enforcing Lease terms, including late fees, you reduce the risk of Tenants falling behind on rent. If Tenants do fall behind on rent, be proactive about addressing it. If your Tenant is communicating with you, try to work with them to come up with a plan to get them back on track. If your Tenant is not willing to work with you, consider a Cash for Keys Agreement or move forward with a Notice to Quit for Nonpayment. The longer you wait, the more costly and difficult the process becomes.
Reduce Your Risk of Evictions With Good Screening & Property Management
ezLandlordForms has the property management tools you need to set you and your Tenants up for success. We’re here to support you through every phase of the Landlord Lifecycle and help you get the most out of your investment properties.
Create an account today and let us help you prevent evictions and other bad rental outcomes.
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By Noel Krasomil
Learning how to calculate a rental property’s cap rate helps you evaluate its potential income, weigh it against other investment opportunities, and make more pragmatic decisions.
Failure to consider a property’s cap rate can come at a steep cost, as you could end up overpaying, underestimating risk, or falling short of anticipated returns.
Keep reading to arm yourself with valuable information that will help you avoid the dreaded scenarios above. To assist, we’ll discuss how to calculate capitalization rate, crucial factors to consider, common mistakes to avoid, and more.
What is the capitalization rate?
Capitalization rate (also known as cap rate) is a real estate calculation used to determine an investment property’s rate of return based on its current market value and net operating income.
By calculating a property’s cap rate, you’ll produce a statistic that indicates how much income a property will produce relative to its market value. This key metric will enable you to make decisions based on actual, proven numbers (not gut feelings or instinct).
Significantly, financing (mortgage amount, interest rates, equity, etc.) does not factor into calculating a property’s cap rate.
The quick formula for calculating cap rate is:
Cap Rate = Net Operating Income (NOI) ÷ Property Value
While the equation above may seem simple, making an accurate calculation means first correctly calculating your property’s NOI and value.
Taking the time to do so is paramount for analyzing a property’s income-earning potential, which can guide future real estate investment decisions. We’ll discuss this topic further in the following sections.
Why Calculating an Accurate Cap Rate is Important
Calculating an accurate cap rate will help you make a well-informed decision based on actual, proven numbers.
Making an inaccurate property calculation could lead to:
- Overpaying for a property: An overblown cap rate could make an investment look stronger than it actually is, leading to a purchase significantly above market value.
- Misinterpreting investment risk: A poorly calculated cap rate could mask signs of instability, such as unreliable rental income and high operating costs.
- Overlooking better investment opportunities: Becoming enamored with an inaccurate cap rate could lead you to look past better rental properties.
- Inaccurate projections: If you miscalculate a property’s cap rate, you risk throwing off projections, which could negatively affect your portfolio.
Exercise due diligence as you calculate a property’s cap rate. Accurate, provable numbers are key and will help you to act confidently and make savvy investment decisions that grow your portfolio.
We’ll start by calculating NOI.
How to Determine Net Operating Income (NOI)
Net operating income is determined by taking a property’s gross operating income and subtracting its operating expenses:
Net Operating Income = Gross Operating Income – Operating Expenses
Gross operating income is calculated by taking a property’s potential rental income, adding its other income, and subtracting its vacancy loss:
Gross Operating Income = Potential Rental Income + Other Income – Vacancy Loss
Potential rental income measures the total base rent amount you would collect if the investment property stays occupied year-round at current market rates.
Other income is revenue that a property generates outside of base rent. A few examples are:
- Parking fees
- Pet rent
- Storage fees
- Application fees
Vacancy loss measures the estimated income lost due to vacancies or unpaid rent, typically represented as a percentage.
Operating expenses measure all recurring costs required to keep an investment property running. A few examples are:
- Property management software costs
- Property taxes
- Accounting and bookkeeping costs
- Insurance premiums
- Maintenance and repairs coordination fees
Now that you understand the factors influencing a property’s NOI, let’s dive into the different methods to determine its market value.
How to Determine a Rental Property’s Market Value
You have a handful of tried-and-true options to determine a rental property’s market value. Here are three of the top approaches:
Conduct a Sales Comparison of Similar Properties
Analyze the sales prices of comparable properties in the neighborhood, and consider their type, size, condition, and location relative to the property in question. Make price adjustments based on key differences between the properties, and come up with an educated estimate.
Generally, this approach is more accurate if there have been multiple recent sales of comparable properties within close proximity.
Get an Estimate from a Professional Real Estate Broker
Obtaining a BPO (broker’s price opinion) from a trusted real estate professional can provide insight into a property’s value. Active brokers typically have their finger on the pulse of the real estate market and can estimate property values with reasonable accuracy.
Hire a Certified Appraiser to Value the Property
Certified property appraisers have one job and one job only: to provide an unbiased opinion of a property’s market value using several proven methods. Of the options on this list, going this route usually produces the most accurate market value estimate, but costs the most.
Now that we have the NOI and market value, we can calculate the cap rate for a property.
Formula for Calculating Cap Rate
As a reminder, the formula for calculating cap rate is:
Cap Rate = Net Operating Income (NOI) ÷ Property Value
For context, let’s pretend you’re considering purchasing an investment property valued at $500,000.
When sitting down with the seller, they open up their books and show you that the property had a net operating income of $40,000 and accrued $5,000 in operating expenses over the last year. Their projections, which seem rock-solid, point to a similar year ahead.
By taking the property’s $40,000 NOI and subtracting its $5,000 in operating expenses, we determine the property’s NOI is $35,000.
As mentioned, the property’s value is $500,000.
Because property value and NOI are the only two metrics used to determine cap rate, we can now make our calculation:
$35,000 (NOI) ÷ $500,000 (Property Value) = 7% (Cap Rate)
Is that good or bad? Let’s find out.
Analyzing a Property’s Cap Rate
After calculating a property’s cap rate, you may wonder what to make of the number itself. Below are the typical cap rate brackets and how to interpret properties that fall into them.
Low (5% and Below)
Cap rates below 5% typically represent stable, low-risk properties in proven locations. These properties usually offer dependable rental income and long-term appreciation potential, but limited immediate returns. You’ll pay a premium for predictability and location when purchasing properties with low cap rates.
Example: San Francisco, California (3.8%)
Moderate (5% to 7%)
Typically, properties between a 5% and 7% cap rate strike a balance between income-earning potential and risk. They usually exist in decent real estate markets, show reasonable upside, and are attractive if you’re after a steady cash flow with room for growth.
Example: Denver, Colorado (5.5%)
High (7% and Above)
High cap rates indicate that a property has potential for more substantial cash flow, but often comes with higher risks. These properties may have pressing maintenance needs, higher vacancy rates, or exist in unstable markets. If you’re a sweat equity investor who conducts hands-on property management, these properties may appeal to you.
Example: Memphis, Tennessee (8.2%)
We use QuickBooks daily in our rental property business!
It’s used to invoice tenants for their rent, track expenses by property and unit number, and our tax advisor can log on anytime to get information he needs for processing taxes or analyzing our data for goal setting meetings!
QuickBooks is the #1 accounting software for small businesses, and today you can take advantage of 30% off your first 6 months of QuickBooks Online using our exclusive Business Affiliate link.
Factors that Influence Cap Rates
Both property-specific details and overall market conditions determine cap rates. Understanding all the factors at play will help you evaluate risk, compare deals with a high degree of accuracy, and decide whether a property’s potential return matches your investment goals.
Location
Properties in desirable locations with healthy job markets usually result in lower cap rates. Investors in these areas often accept lower returns in exchange for long-term stability, whereas riskier locations require higher cap rates to drum up interest and offset doubt.
Crowded urban markets like San Francisco and New York City often see lower cap rates due to high housing demand and limited supply. In contrast, rural and suburban areas tend to carry higher cap rates due to weaker demand, longer vacancy periods, and pricing volatility.
Type of Property
With different property types come different risks. Multifamily rental units, for instance, typically carry lower cap rates than commercial properties because they have more consistent demand and quicker tenant turnover.
Property size also plays a big part in cap rate. Larger properties (like industrial warehouses) often require more capital to rent, which can drive cap rates higher. Alternatively, smaller residential rentals attract more interested parties, leading to lower, more stable cap rates.
Lease Length and Terms
Long-term tenancies offer landlords predictable and consistent cash flow. As such, properties with reliable tenants on fixed-term leases often sell at lower cap rates. In contrast, properties with month-to-month tenants typically present a higher risk, pushing cap rates higher.
Lease terms also significantly impact cap rate. Triple net (NNN) properties, where tenants cover operating costs, typically reduce landlord risk and lower the cap rate. Properties where the landlord pays for the bulk of expenses shift risk back onto them, and thus push the cap rate higher.
Vacancy Rates
Higher vacancy rates across an area usually signify that a market has weak demand or is oversupplied, which increases risk and, as a result, cap rates. Low-vacancy markets typically mean you can rely on steady income driven by high housing demand, which, you guessed it, decreases cap rates.
A specific property’s vacancy statistics play a part, as well. Steady tenant turnover or long gaps between leases suggest a property has pressing issues you might need to address. Even in strong markets, properties with higher vacancy rates typically result in higher cap rates.
Property Condition
Newer or well-maintained properties usually come with lower cap rates. The need for fewer repairs means more predictable operating costs and an overall lower risk. Older buildings with deferred maintenance may require higher returns to justify future expenses.
While some properties seem profitable, they may require significant maintenance that will eat into a property’s NOI. As such, you should run properties through thorough inspections and adjust cap rate expectations based on estimated repair risks and recurring maintenance costs.
Average Cap Rates Around Major U.S. Cities
As you may imagine, cap rates vary significantly across U.S. markets. To provide perspective, we’ve highlighted estimated 2025 cap rates across 15 major U.S. cities in the table below.
| City | Average Cap Rate % |
|---|---|
| San Francisco, CA | 3.8 |
| New York, NY | 4.1 |
| Los Angeles, CA | 4.4 |
| Seattle, WA | 4.6 |
| Boston, MA | 4.8 |
| Washington, D.C. | 5.7 |
| Atlanta, GA | 5.9 |
| Chicago, IL | 6.2 |
| Dallas, TX | 6.5 |
| Phoenix, AZ | 6.8 |
| Houston, TX | 7 |
| Kansas City, MO | 7.3 |
| Cleveland, OH | 7.6 |
| Memphis, TN | 8.2 |
Common Mistakes When Calculating Cap Rate
Cap rate is only as accurate as the numbers within its equation. While a poorly calculated cap rate can be harmful, it’s also easy to avoid.
Here are some of the most common missteps to consider when calculating cap rate:
Using Gross Income Instead of Net Operating Income (NOI)
Gross income doesn’t account for property-related expenses like taxes, property management costs, insurance premiums, and repairs. NOI gives a clearer picture of what the property actually earns, because it factors in predictable expenses you can prepare for.
Ignoring Vacancy Loss
While we love to dream about a 100% occupancy rate and tenants who always pay rent on time, the reality isn’t so rosy. Even in strong markets, vacancies and missed payments always occur. Failing to account for them will inflate your NOI and predict a cap rate that’s too optimistic.
Underestimating Property Management Costs
If you self-manage your rental property, you must account for accurate property management costs when calculating the cap rate. Time is money, and you may consider hiring a property manager. Consider using software to offload the tedious, manual tasks that property managers charge high rates to complete.
Using Acquisition Cost Instead of Current Market Value
Cap rate reflects the potential return on today’s investment. Using a property’s past purchase price instead of its current market value will alter its cap rate stats, especially if it has taken a significant leap in value since its last purchase.
The Final Word
Cap rate, when properly calculated, can give you a reliable estimate of a property’s income-generating potential. Understanding this simple statistic will help you push aside gut feelings and focus on actual numbers and the story they tell.
Now that you have a firm grasp on cap rate, how to calculate it, and what the numbers signify, use that knowledge to your benefit. Remove emotion from the equation, make informed investments, and watch your portfolio take flight.
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Listen On:
In Episode 103 of Your Landlord Resource, we dive deep into our real-world experience installing property-wide fiber optic Wi-Fi in a six-unit rental property. This isn’t theory—we share what worked, what we wish we knew sooner, and what it all cost. From upgrading a midterm rental and supporting smart locks to giving tenants high-speed access at a fraction of retail pricing, this episode is packed with tips for self-managing landlords.
We break down why Wi-Fi is becoming a top must-have amenity for renters (with 90% of tenants in a 2024 NMHC survey rating it essential), and how landlords can meet that demand in a cost-conscious and scalable way. You’ll learn what types of properties benefit most, how much bandwidth you really need, and how to handle the install without blowing your budget—or your mind.
We cover the technical details landlords need to know, including using VLANs for tenant privacy, installing CAT6 ethernet, and choosing between budget systems like TP-Link or pro-level gear like Ubiquiti. And most importantly, we talk about whether tenants truly value this amenity and if it’s worth the investment.
If you’re a landlord managing a duplex, triplex, or small multifamily and want to offer high-speed internet while protecting your bottom line, this episode is for you.
🧠 What You’ll Learn in This Episode
👉When property-wide Wi-Fi makes sense (and when it doesn’t)
👉The difference between cable and fiber optic internet
👉Required bandwidth based on unit count
👉What VLANs are and why they’re crucial for tenant privacy
👉Product comparisons: TP-Link vs. Ubiquiti
👉Installation pitfalls, hidden costs & hiring IT support
👉Whether to charge tenants separately or bundle Wi-Fi into rent
👉Questions to ask tenants to determine demand for shared internet
🔗 Links & Resources Mentioned
🎧 Listen to Episode 101: Staying Motivated When Work Gets Tough
Connect with Us:
🌎 Visit our website
📧 Subscribe to our newsletter.
👆Click this LINK to select from our FREE Landlord Forms and Doc’s
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