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Five Tips on Getting Your Deposit Back

 

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Getting your security deposit back is much simpler than it seems, and having that extra cash can be extremely helpful while you’re moving out of one home and into another. Rental companies and landlords actually prefer to give you as much of your deposit back as possible back because that means the home was left in good condition. Here are a few tips to help you out in getting your deposit back:

 

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How to Find Tenants for Your Memphis Rental Property

 

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A vacant property is every Memphis landlord’s nightmare. A vacant rental property means no income at the end of the month. Filling a rental property is, therefore, key to the success of your rental business.

However, as every landlord in Memphis can attest, finding reliable tenants to fill a rental property isn’t easy. An ideal tenant is one who is keen to follow all rental lease terms, is responsible, and one who is able to pay rent in full.

In this article, we reveal proven ways that teach you how to find tenants for your Memphis rental property. (more…)

Investing Your Second Property

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Owning a second home has many benefits, but you should keep in mind that there are many hidden costs that come with owning a second property. Whether you inherited the home, bought a vacation house, or just wanted to invest in multiple properties, you need to consider that not properly investing your second home can put you in financial and emotional distress.

 

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The Basics of Tennessee’s Security Deposit Law

 

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A security deposit is required for most rental agreements and residential leases in Tennessee. The deposit, usually a month’s rent, is a dollar amount intended to cover damage resulting from a tenant’s negligence or carelessness.

For example, if a renter breaks bathroom tiles or causes burns and chips in the laminate countertop, the landlord has a right to make appropriate deductions from his or her security deposit. (more…)

How to Deal with Difficult Tenants in Memphis, Tennessee

 

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Dealing with difficult tenants can be a nerve wrecking ordeal as a Memphis landlord. For many, it’s an unfamiliar and potentially risky territory. Traversing all the complex rules pertaining to the rights of tenants and what you can and can’t do as a landlord in Memphis can feel overwhelming.

Even with the most arduous screening process, as a landlord, you’re destined to meet a difficult tenant at some point. Anecdotal landlord experiences suggest it seems to happen in as often as one in five tenancies.

Tenant problems come in all shapes, sizes, and levels of severity. They can range from relatively trivial things like carpet stains to serious criminal activities like cannabis factories.

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Overview of Landlord-Tenant Laws in Tennessee

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When either the tenant or the landlord fails to meet their obligations, their relationship can become complicated. Landlords legally expect their tenants to reasonably pay for and maintain the quality of their rental property. Likewise, tenants legally expect their landlords to provide essential services like repairs, maintenance and utilities.

When either party fails to do this, it’s considered a violation of Tennessee’s landlord-tenant laws. Usually, there are legal ramifications. Therefore, understanding these laws is important.

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What To Know About Breaking a Lease in Tennessee

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You may find that you need to move because of a new job or maybe move closer to your elderly parents. Or perhaps you’re a serviceman and you need to move because you have received a change of station orders. There are many reasons why tenants break a lease agreement in Tennessee.

While all these reasons may be completely justified, not all of them are “legally” justified. When the reasons are legally unjustified, you’ll be liable for paying all rent due under the lease. This is because a lease obligates both you and your landlord for a set period of time. (more…)

Best Neighborhoods to live in Memphis, TN

best-place-live-memphisLocated along the Mississippi River at the Arkansas border, Memphis is an interesting and vivid place. Memphis has a history of dramatic highs and lows: Civil War destruction and reconstruction, antebellum cotton-trading prosperity, and yellow-fever epidemics. Today the city is on an upswing.

Whether you’re looking for urban living or something more pastoral, Memphis has got you covered. It has great neighborhoods to fit a broad range of budgets, preferences, and expectations. So, if you’re thinking of moving to Memphis and are wondering where to live, our team here at Omni Realty has compiled a list for you.

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How to Rent to Tenants With Pets

 

renting-tenant-with-petFor millions of Americans, pets are part of the family. Many places — stores, hotels and restaurants — now have pet-friendly policies. And now, landlords are getting on the bandwagon.

According to a survey conducted by the American Pet Products Association, Americans now own 95.6 million cats and 83.3 million dogs. In other words, at least 50 percent of homeowners have a pet.

With so many people owning pets, it’s important that landlords factor a pet policy into their lease agreements.

 

Here’s how to rent to tenants with pets.

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The Tennessee Eviction Process

 

The process to evict a tenant varies widely from place to place. In Tennessee, landlords must keenly follow the rules and procedures stipulated by Tennessee statutes. Otherwise, the eviction process might not be valid in the end.

Eviction laws in Tennessee are further broken down depending on the county you are in. For example, the Tennessee Code under Title 66, Chapter 28 contains the Uniform Residential Landlord and Tenant Act that governs specific counties. They include Hamilton, Knox, Davidson, Shelby, Blount, Anderson, Bradley et cetera.

As such, it is important for landlords to familiarize themselves with all applicable laws concerning the Tennessee eviction process. If you’re a landlord in Tennessee this guide is especially for you. Read on.

 

The Tennessee Eviction Process

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