Whether you recently bought (perhaps inherited) a new rental property or you're in between tenants, have you checked your floors before finishing the Make-Ready process for your new tenants? Do the floors need an update? An empty home is a perfect time to replace flooring that is beyond saving with a thorough carpet cleaning.

If you’re new to investing in real estate, or you find yourself making the transition from homeowner to landlord with your Michigan property, you might be in unfamiliar territory. 

Being a good landlord is more than buying an investment property, hoping some good tenants find their way to it, and collecting rent! Landlords deal with everything. From emergency repairs to screening tenants, being a landlord is a full time job. Not many first time landlords realize just how much time and effort goes into making a profit from a rental property. 

Be sure you know what you're getting yourself into! Here are some of our best tips to help you make a smooth transition to the landlord life with less stress and more financial freedom.

You probably have a love/hate relationship with collecting the rent from your tenants each month.

You love getting paid for your work as a landlord who provides a safe living environment for your tenants. However, you probably hate actually collecting and logging checks, electronic payments, and tracking down tenants who haven't paid on time. 

How can you make it easier to collect the rent from tenants in your Novi property? What payment options should you consider for tenants? 

Here’s a quick look at several payment options and how you can incorporate them into your rent collection system to this task easier on yourself.