1. Do I Need a License to Be a Landlord?
In many states and cities, yes. Some municipalities require landlords to register their rental properties or obtain a rental license. At Hope Capital Investments, we help our clients navigate local regulations to ensure full compliance.
Not only are rental certificates potentially mandatory, some municipalities require point of sale transfers. This process can be tedious if not handled correctly. Minor paperwork mishaps can cost vacancy, legal fees, and headaches. Our team ensures every step is handled with precision to protect your investment and minimize downtime.
Belonging to local organizations like the Suburban Realtors Alliance gives us the ability to know exactly what paperwork is required. Clients want an experienced property manager to navigate the complexities of local jurisdictions. When investing in Pottstown Borough they require a property transfer (point of sale), and a rental inspection. They also mandate a “tenant list” due every January 31st.
These are perfect examples of why hiring a property manager, like Hope Capital Investments, saves time and money. Costly violations and fines can be issued when renting without a license.
2. What Should Be in a Lease Agreement?
A lease should include:
- Names of all tenants
- Lease term (start and end dates)
- Rent amount and due date
- Security deposit terms
- Maintenance responsibilities
- Rules on pets, smoking, and subletting
- Procedures for termination or eviction
Hope Capital Investments provides professionally drafted lease templates tailored to your property and local laws.
Landlord-tenant law is complex. Many situations can be avoided by having the most appropriate lease (contract) for you and your property. Having hundreds of eviction court appearances, we have learned what provisions should be included that standard leases do not contain. It is precisely this expertise that distinguishes between the average and high-achieving property management companies. We know how to address questions like:
- How to treat disability related requests?
- Is medical majiuana smoking allowed inside my buildings?
- Can I charge for emotional support animals?
Landlord Tenant Law is law. Hope Capital Investments takes the time to educate ourselves on fair housing laws, conferences, books, and podcasts.
3. How Much Can I Charge for Rent?
This depends on:
- Local market rates
- Property condition and amenities
- Location and demand
We use advanced market analysis tools at Hope Capital Investments to help you set competitive, profitable rent prices.
It is vital to have a property manager in your corner that educates themselves on the macro environment; but a true professional knows how to interpret that data on a granular level and offer insight on how this impacts real estate in your local market. Due to the breadth and depth of our portfolio, we know precisely how to price to reduce vacancy rates while still commanding premium rents.
4. What Are My Legal Responsibilities as a Landlord?
You must:
- Maintain a habitable property
- Make timely repairs
- Respect tenant privacy
- Follow fair housing laws
Our team ensures your property meets all legal standards and handles tenant relations with professionalism and care.
Common sense mostly prevails in all types of businesses; however, sometimes an innocent act can be a huge mistake. Questions like: Is your advertisement to rent your property using discriminatory language? Or how should you handle assistance animals versus pets? These are the kinds of legal nuances that Hope Capital Investments is trained to manage, helping you avoid costly missteps.
As a landlord are you aware of what “the warrant of habitability”?
Or how about a counterclaim from a tenant based on a landlord violating a Fair Housing Act?
5. How Do I Screen Tenants?
Screening typically includes:
- Rental application
- Credit and background checks
- Employment verification
- Landlord references
Hope Capital Investments offers comprehensive tenant screening services to help you find reliable renters.
6. What Is a Security Deposit and How Much Can I Charge?
This has been a hot topic and case law has changed the landscape. As a landlord are you prepared to accept one month’s worth of Security Deposit or Double? Can it be considered a fee and nonrefundable? Should it be interest bearing? How long after a tenant leaves do I notify them I am keeping the security deposit and how to send notice. Landlord tenant law is complicated.
7. What If a Tenant Stops Paying Rent?
Start by communicating with the tenant. If unresolved:
- Serve a formal notice
- Begin the legal eviction process
Our legal partners and property managers at Hope Capital Investments handle these situations with professionalism and compliance.
While not an attorney, Hope Capital Investments offers eviction services! A property manager is authorized by Pennsylvania statute to file landlord-tenant complaints in local jurisdictions. We use this authority to act swiftly and lawfully on your behalf, minimizing losses and protecting your investment. Have you heard of a “notice to quit”? Are you familiar with the procedure? What happens if you file a landlord tenant complain and do not comply with this requirement?
8. Can I Raise the Rent?
Yes, but you must:
- Follow lease terms
- Provide proper notice
- Comply with local rent control laws
Does Pennsylvania have rent control?
At Hope Capital Investments we know these issues inside and out. Upon coming aboard we have an initial strategic appointment identifying what your goals are for short and long term; and, how do we execute effectively to accomplish these goals. Once a year we perform an audit determining how well your rental property is performing.
We help you time and structure rent increases to retain tenants and maximize returns.
9. How Do I Handle Repairs and Maintenance?
You’re responsible for major repairs and ensuring the property is safe. We offer 24/7 maintenance coordination to keep your property in top shape.
Are you ready to fix a leaky faucet at 2 a.m.? How about installing a new toilet? How do you receive these requests from tenants? Our maintenance requests are streamlined and automated. With a knowledgeable and large team, different maintenance requests are directed to different departments—ensuring fast, efficient, and professional service every time.
Hope Capital Investments also enjoys the benefit of having a full contruction team in house. With a team of experienced and trained workers we have the ability to construct homes from the ground up. Most property managers will send an owner looking for a contractor when it is time to perform major work. We have you covered in house at an affordable price.
10. Should I Hire a Property Manager?
If you:
- Live far from the property
- Own multiple units
- Don’t want to handle day-to-day issues
…then hiring Hope Capital Investments is your best move. We handle everything from leasing to maintenance to tenant relations—so you can enjoy passive income with peace of mind.
Ready to Simplify Your Landlord Journey?
Let Hope Capital Investments take the stress out of property management. Whether you’re a first-time landlord or a seasoned investor, we provide the tools, expertise, and support to help you succeed.
📞 Contact us today