Leases are essential agreements for both landlords and tenants. They outline the rules and responsibilities for each party during the rental period. However, there are times when a landlord may need to break a lease. Common reasons a landlord would break a lease...
Landlord And Creditor Services
What are grounds for evicting a tenant in Michigan?
When evicting a tenant in Michigan, landlords must follow specific rules and regulations. Understanding the grounds for eviction helps landlords and tenants know their responsibilities. Nonpayment of rent According to USGAO estimates, landlords evict millions of...
New 1099 requirements for landlords
A significant law change going into effect in 2024 involves rental income that Michigan landlords must report on their1099-K forms. The current tax season is the first in which the Internal Revenue Service has changed reporting requirements to address unreported rent....
Why being a landlord isn’t as easy as it seems
Being a landlord in Michigan can be a great way to earn additional income and be your own boss while managing a property ownership business. Plus, your income tends to increase as you purchase and lease out more homes and apartment units. However, this role isn't as...
How much should you charge a tenant to rent your property?
If you're a Michigan adult looking for extra money or to pay off a mortgage, renting out an owned property is a great way to achieve these goals. But it's understandable to have questions about becoming a landlord. A common concern landlords face is how much money to...
Landlording for beginners
As a Michigan homeowner, you may be considering renting out a house you own to supplement your income. But you should be aware not only of the upside, but also the responsibilities and potential downsides. Being a landlord can be a wonderful way to add another income...
Do you have what it takes to be a landlord?
If you're a real estate investor who wants to save money by managing your own Michigan rental properties, that is an achievable goal. However, there are some downsides to being a landlord that you should consider before you start assuming that responsibility. Here are...
The pros and cons of REITs vs. being a landlord
Investors in Michigan and around the country seeking opportunities in the commercial real estate sector have traditionally chosen to buy buildings and then rent out the space, but real estate investment trusts have become more popular in recent years because they...
Mistakes to avoid if you’re a landlord in Michigan
Being a landlord in Michigan can be a rewarding experience, but it also comes with its fair share of challenges. Whether you're a new landlord or an experienced one, it's crucial to avoid common mistakes that can lead to financial and legal issues down the road....
What benefits do leases offer landlords and tenants?
Leases are legal agreements between landlords and tenants that outline the terms of a rental arrangement. Leases are an important tool for both landlords and tenants, as they provide several benefits for both parties. Benefits for landlords Different types of leases...