If you manage multiple properties, you’re well aware that collecting on-time rent has always been a struggle. Whether the reason for late rent payments is getting lost in the mail, poor communication with tenants, the renter just doesn’t have the funds available for rent at the due date, or they simply forgot it, the bottom line is it affects your cash flow.
How To Collect Rent On Time In The Era of COVID-19
Topics: Tenant Liability, Rental Property, Investment Property, Master Policy
Mistakes When Filing an Insurance Claim for Investment Property
In an ideal world, an investor will never have to file an insurance claim on any of their investment properties. Unfortunately, if you have multiple properties within your real estate portfolio, filing a claim is inevitable. The larger your portfolio is, the likelihood of a claim only increases. Thankfully, you can take some simple steps before and during a claims process to make sure it is processed as quickly as possible.
Topics: Property Management Solutions, Rental Property, Investment Property, Insurance Claims
Hurricane Preparedness Tips for Real Estate Investors
Here comes yet another Hurricane Season.
On August 5th, the Department of Atmospheric Sciences at Colorado State University increased its forecast for the 2020 Atlantic hurricane season to “extremely active.” According to their report, they predict “an above-normal probability for major hurricanes making landfall along the continental United States coastline.” Unfortunately, it only takes one storm to cause physical substantial and financial damage.
Topics: Asset Protection, Master Real Estate Insurance Policy, Tenant Liability, Investment Property, Hurricane Preparedness
Calculating Cost of Insurance for Real Estate Investment Portfolios
As you can imagine many factors come into play when determining the cost for insurance to cover a real estate portfolio. Knowing how these different factors play into each other can influence and strengthen your overall real estate investment strategy. It is important to note that every situation is different, but some there are some general rules of thumb to consider. If you’re on the fence about whether you should purchase a new property, estimating the insurance cost can help determine whether or not you move forward with the purchase.
Topics: Master Real Estate Insurance Policy, Tenant Liability, Investment Property, Master Policy
Protecting Homes Under Renovation and Vacant Dwellings
Many state and local governments have enforced cease-work orders, leaving vacant and rehab properties vulnerable to theft and vandalism concerns. If your site(s) is shut down or just vacant, it is important to protect your assets from theft or damage. Even properties that are being renovated are likely delayed from product and worker availability.
Topics: Vacant Property, Rental Property, Investment Property