How well landlords can respond to rental home maintenance requests has a direct impact on cash flow, profitability, tenant relationships and legal liability.

Why Ignoring Rental Home Maintenance Could Cost You More Than Repairs

If something breaks or needs maintenance in your rental home, how soon can you respond? It’s an important question for homeowners, because how you resolve issues is a reflection of your professionalism and commitment to providing a safe and habitable living environment for tenants. 

Handling maintenance requests efficiently impacts homeowners in a number of ways, including:

Tenant satisfaction: Happy residents stay longer and reduce vacancies

Legal obligations: Insecure, unhealthy, or unsafe properties puts you at risk of legal liability and action 

Property preservation: Identifying issues can prevent costly headaches down the track and help you list at the best possible price 

Landlord-tenant relationships: Keeping your home in good condition provides better living conditions and makes it easier to increase your rental price when needed because you’re providing good value for money 


Bottom line: How well you can respond to maintenance requests has a direct impact on your cash flow and well — your bottom line! 

Why is it so hard to find a handyman these days? 

If maintenance is a critical part of renting out a home, why is it so hard to find a plumber or electrician these days? Where did all the contractors go? 

It’s often reported that the US is experiencing a major skilled labor shortage in most trades that affect homeowners. Gone are the days where you could ring around to get three quotes for the best price. Now you’re lucky if you can find someone with enough availability to show up at all! 

With so much work to go around, contractors are often drawn to large jobs that pay the most. This can leave rental homeowners waiting months for repairs and maintenance. 

Belong’s solution for fast and regular rental home maintenance

Speedy maintenance is critical in making your rental home livable and safe. This is why Belong has built an incredible vendor network of over 10,000 vetted contractors across the country. All available at your fingertips in an instant via the Belong app.  

Homeowners can make instant requests and set up subscriptions for regular maintenance on your rental home. And if a big repair bill comes along, Belong offers flexible payment options to keep you cashflow-positive. 

Discover Belong: See why thousands of US homeowners are ditching outdated Property Management in San Francisco, San Diego, Los Angeles, Charlotte, Tampa, Jacksonville, Austin, Atlanta, Concord, Berkeley, Orlando and many more.

7 tips for rental homeowners handling maintenance requests

If you’re handling maintenance requests on your own, here are 7 important tips to keep things running smoothly: 

If you can’t rely on the network of Belong or a property manager, build your own. Spending time creating a ‘little black book’ of trusted contractors will save you time when you don’t have it (like when a pipe bursts or the heating fails in winter!). Ensure your go-to handypeople are licensed, insured, and capable of handling a variety of maintenance tasks. Look to companies with national presence if you’re struggling to find a local person for the job. 



The best way to ensure your home is in good repair is to ask the people living there! Having good tenant-landlord relationships will help and regular inspections can help you spot potential issues before they escalate. 



Having a process in place to deal with an emergency (such as flood, fire or criminal activity) will make it easier for you to respond if a worst-case scenario takes place.  

Not having the cash to pay for repairs and maintenance will limit your ability to respond to situations quickly. Create a realistic budget based on the age, condition and location of your home (don’t forget about insurance for mishaps too!)



Don’t wait until something falls apart to fix it. Keeping your home in good repair is a great way to limit urgent calls. To get you started, we’ve made some handy maintenance checklists for California, Florida, Washington state as well as tips for preparing your rental home for fall and winter seasons. 



Keep detailed records of all requests received, including the issue, solution, contractor and cost. This will allow you to identify recurring issues and trends over time for budgeting. Photos of damage and repairs can also be helpful when assessing the wear and tear on your property. 



Not sure if your contractors are trustworthy? Ask your residents for feedback. They can tell you if the job was completed professionally and efficiently. 

Let Belong make maintenance woes a thing of the past

Belong makes worrying about maintenance and upkeep a thing of the past. Belong's 24/7 customer support puts over 10,000 professional contractors at your fingertips, ready to help whenever you need them. And if you need regular services like snow removal, gutter cleaning or lawn maintenance, we can set up a subscription for these recurring services. You can even spread the payments over your lease, keeping you cashflow-positive.

Learn more about Belong for rental homeowners here. 

Unlock Positive Cash Flow in 2024 with Belong

What is the Rule of 72 in real estate? Assess how long your rental investment might take to double in value with this simple shortcut formula as a guide

Understanding Rule of 72 for Rental Property Calculations

When you’re crunching numbers on your rental home, there are a lot of ‘rules’ and shortcuts that can help determine the value of your investment. The ‘Rule of 72’ is one of them, which we’re going to cover in this explainer. 

The Rule of 72 is a simple formula that is used to estimate the time it takes for an investment to double in value, based on a fixed annual rate of return. It is more commonly used to determine compound interest, but it can be used in real estate too. 

How to apply the Rule of 72 to a rental property:

While rental returns can fluctuate and change depending on things like expenses, debt and vacancies, start with a cash flow analysis to determine the average annual rate of return you expect to earn from your rental home from income. This can also include factors that add to your overall profit such as property appreciation and tax benefits. It should be a single number without any decimal places, such as 8%. 

Once you have an estimated rate of return, divide 72 by this number. The result will be the number of years it takes for your investment to double in value.

For example, if you expect an annual rate of return of 8% from your real estate investment:

According to the Rule of 72, it would take approximately 9 years for your investment in real estate to double in value, assuming an 8% annual return. If your annual return was 3%, that number would increase to 24 years. The Rule of 72 is a simplified estimate and may not be perfectly accurate, but it can provide a quick and easy way to consider potential growth of an investment or rental property. 

The Rule of 72 is typically used for interest rates and has limitations that rental homeowners should be aware of. For starters, this simple formula works best when your annual rate of return sits between 6 - 10%. If it exceeds 15%, it will no longer provide an accurate estimate.   

There is also a “Rule of 69.3”, which is used in the same way by replacing 72 with 69.3. In most cases the Rule of 72 is more easily divisible and understood, however the Rule of 69.3 may be more accurate. 

Of course, the biggest drawback of this calculation is that it assumes your annual rate of return won’t change. In reality, the appreciation of your home is subject to current market conditions — as is the amount you can charge for rent. There’s also the condition of your home and the potential for expenses to fluctuate or vacancies to occur.

Ultimately, the Rule of 72 only provides an estimate, and rental property owners should consider other financial metrics when they make investment decisions. 

How does the Rule of 72 apply to rental homes?

The Rule of 72 is best used as an estimating tool in evaluating potential investment properties. You can also use it to estimate the return on your investment for your current rental property.  

For example, suppose you have a real estate investment property valued at $100,000, and that property has an 8% annual return. In that case, you can estimate that your initial investment will take nine years to reach $200,000. 

This could be useful when comparing two homes or planning for the growth of your investment portfolio. If you’re planning to invest in capital improvements, you may also look at how quickly you could expect to make your money back by projecting your predicted rate of return. 

Recent years have seen high rates of inflation, which can also impact your purchasing power. If for example, the inflation rate is around 8% (as it was in 2022), dividing 72 by the rate of inflation shows that in 9 years, the purchasing power of your money will be reduced by 50%. This could help make decisions about when to buy as the cost of living increases. Again, not a perfect calculation however as inflation fluctuates and is not always as high as recent years. 

Simplify how your rental home makes money 

Simple math is one thing, but Belong prefers to simplify the entire renting experience. Whether you’re new to the real estate investing game, dealing with a problematic property management company or burnt out chasing rent every month, Belong can help.  

Our smarter, future-ready services include:

Guaranteed rent every month, regardless of if or when your residents pay

Optimized rental pricing that uses technology and real-time demand to price your home with accuracy

The Belong app that gives you and your residents access to everything you need

Innovative financial products including the option to spread maintenance payments over the term of your lease agreement

Access to dedicated landlords insurance to protect your asset (as well as coverage for your residents)

Integration with the most popular rental platforms to get your home loved faster

Instant access to an expansive vendor network of over 10,000 professionals that can handle everything from routine repairs to home upgrades

…and we’re just getting started! Belong is simplifying the rental experience across the US and helping more homeowners reach their financial goals with the most hassle-free property management service; Belong PRO.

Disclaimer: It’s important to consult with a professional and consider your personal circumstances before making any decision on finances or investments. This article provides a simple formula to a complex calculation and should not be considered financial advice. 

Secure Your Financial Freedom in 2024 with Guaranteed Rent

Cash flow management made simple: Introducing Belong’s Split-It Financing to spread the cost of unplanned expenses to keep your rental home cash flow positive.

How Flexible Payment Options Are Unlocking Positive Cash Flow for Landlords in 2024

For most rental homeowners, positive cash flow is the key to hitting financial goals. That is, having your rental home earn more income than it costs to operate and service debt. Cash flow in real estate is different to profit, because it’s not tied up in the asset itself. Cash flow is the passive income that unlocks a better lifestyle, the reserves to build for retirement — maybe even grow your investment portfolio.

This is why cash flow is so important for individual homeowners. When Belong was throwing out the property management playbook to create a better renting experience, simple cash flow management was a priority. Belong simplifies the renting experience for homeowners and helps to secure cash flow in three ways:

Optimized rental pricing based on livability and real-time demand


Guaranteed rent to avoid gaps in your rental income


‘Split-It Financing’ that spreads the cost of any unplanned expenses

Belong’s innovative approach to cash flow management is available to all homeowners on the Belong PRO network. Let’s dive into how it works. 


How Belong simplifies rental home cash flow management

Large or unplanned expenses can make a serious dent in your rental property cash flow. No matter how prepared you are, there are still some curveballs that can negatively impact your cash flow. Things like:

Large/unexpected maintenance or repair costs

Belong has simplified cash flow management by minimizing these risks. We go the extra mile in placing the best people in your home and reduce vacancies. We guarantee their rent so you never miss a payment. We offer maintenance subscriptions to keep your home in top shape all year round. We even shield you from costly evictions in the rare event that we need to remove anyone we placed in your home. 

Yet even the best made plans can come undone if a pipe bursts, a tree falls through the roof or the heater gives up in the middle of winter. Don’t worry, we’ve covered that too, with Split-It Financing. 

Split-It Financing allows you to cover expenses upfront, while splitting the cost over the term of your lease. No matter how big or small, costs are split into manageable chunks. This means you get your rent paid every month, minus a repayment for any bills you choose to split. This is perfect for anything from landlords insurance payments to emergency repairs. 

Discover Belong PRO: See why thousands of US homeowners are ditching outdated Property Management in San Francisco, San Diego, Austin, Los Angeles, Tampa, Jacksonville, Concord, Berkeley, Orlando and many more.

Why is positive cash flow important in 2024?

If your home is generating more income than it costs to run and service debts, you have positive cash flow. This can help to: 

Protect against economic uncertainty because income generated can help ‘weather the storm’ if property values decrease



Reduce the chance of default or foreclosure by bringing in enough income to service all debts



Improve opportunities for wealth creation with surplus to reinvest or diversify your financial portfolio



Increase the value of your home should you choose to sell, as positive cash flow will attract other investors



Improve your credit rating and financial health, making it easier to secure better terms with lenders when applying for finance


Belong is simplifying the rental experience and helping more homeowners reach their financial goals through real estate. Visit our homeowner's page to find out more about services in places like Seattle, Los Angeles, San Francisco, Austin, Oregon, Oakland, Miami and many more.

Disclaimer: Belong believes the word landlord is outdated and prefers ‘homeowners’ as it better reflects the partnership and community we strive to build. However, in this specific blog, we use 'landlord' to make an essential distinction regarding cash flow management strategies for rental homes. This terminology helps us precisely address the unique financial approaches and benefits our services offer to those managing resident-occupied properties, ensuring clarity and relevance to our readers.

How Flexible Payment Options Are Unlocking Positive Cash Flow for Landlords

From Charlotte to Durham and Wilmington: it’s time to meet Belong and find out how we’re changing renting and property management in North Carolina for good.

Belong Extends a Warm Southern Welcome to North Carolina

The rollouts don’t stop! Hot on the heels of our Belong PRO network expansion in Texas, Utah, and Florida, we’re ready to extend a warm southern welcome to the great state of North Carolina. 

It’s an exciting time to own a rental home in North Carolina and we’re ready to help rental homeowners make the most of the opportunities that 2024 brings. After wage growth outpaced inflation in 2022, CNBC again ranked North Carolina the top state for business in 2023. Workers are flocking there to take advantage of this booming economy and growing operations of major companies like Apple and Bosch. Mix in desirable universities and you’ve got the perfect formula for attracting renters all year round. 

For homeowners, this means there’s never been a better time to rethink how your rental home is cared for. It’s time to join a modern alternative to property management that’s designed for the North Carolina of today, not decades past.   

One that guarantees rent every month. Someone who provides real support 24/7 for both you and your residents. Who does away with hidden fees and gives you better control of your cash flow management. And does it all in one simple app. 

Partnering with Belong means managing your rental home on your own terms, knowing you have the support to achieve your financial goals sooner. 

The best alternative to property management in North Carolina

The mission of Belong is to create authentic belonging experiences — empowering residents to become homeowners and homeowners to become financially free. We’ve set about changing every aspect of renting that fails homeowners and residents (we’re even binning the terms landlord and tenant!). We’re challenging the status quo of property management by putting people first, enabled by best-in-class technology and services.

By partnering with Belong PRO, you won’t have to deal with the common complaints of outdated property management companies. Our team inspect your rental home and help you get it move-in ready. We’ll use clever tech and real-time demand to find the right rental price. We’ll find and vet great people that will care for your home as you would. And we’ll treat them exceptionally well too, so that they stay longer, reducing vacancy.

Earn $1,000 by referring NC homeowners to Belong

Charlotte, Raleigh, Greensboro, Durham, Wilmington — North Carolina is home to many great cities and neighborhoods with a high demand for rentals. If you know someone looking to rent out their NC home, learn about our referral program. You could earn $1,000 by referring a qualified homeowner when they join the Belong PRO network.

Check out our local pages for more information or to get started:

North Carolina Property Management Made Loveable

Washington state rental housing laws are changing in 2024, here's 5 changes Washington state landlords need to know when renting out their home in 2024.

5 New Laws Washington State Landlords Should Be Prepared For in 2024

Washington state passed so much housing legislation in 2023 that it became dubbed “the year of housing” in the state. While most of these initiatives became law six months ago, it’s 2024 where homeowners will most feel their effect.  

Staying across legal changes in Washington state can help you avoid being on the wrong side of tenant-landlord laws in your jurisdiction. Many changes are taking place at a local level too, so what is accurate in Seattle may not apply in Snohomish or Spokane.  

From new rules on security deposits and rent increases to evictions, here are 5 things that landlords in the state of Washington need to be aware of in 2024. 

5 things Washington state landlords should know about in 2024

1. Security deposit laws have changed in Washington state

Legislation: Title 59 Landlord and tenant law

If you have residents due to move in or out in 2024, be aware that security deposit rules have changed under Washington state landlord-tenant laws.

Now when you collect a security deposit, you will need to give the new tenant a written checklist that outlines the cleanliness of the rental home and any existing damage. This checklist will need to include descriptions of the condition and cleanliness of:

Walls, paint and any wallpaper or coverings

Both you and the tenant will need to sign and date the agreement and you must provide them with a copy. If you don’t, the tenant could take legal action, including suing for the deposit amount plus costs. 

If you have a tenant vacating in 2024, be aware of the following updates to security deposit regulations:

You have 30 days to return the security deposit or provide a written statement outlining why you need to keep money to repair or clean damage outside of regular wear and tear. This is an increase from 21 days. 

If you are claiming any of the deposit, you will need evidence of the costs to clean or repair any damage. Make sure you include quotes or invoices in your written statement, do not write “extra cleaning: $250” unless you have a cleaning invoice for this amount. 



If you intend to make repairs yourself, you must document time the work took, along with a reasonable hourly rate in place of an invoice to use as evidence. 



If you don’t have a written explanation of the expenses needed within 30 days, you lose your right to keep the deposit money. More time may only be granted in extenuating circumstances.  



You can not keep any of the security deposit for “wear and tear” on the rental home or any breakages that happen as a result of ordinary use (e.g. carpet staining due to foot traffic).



Any deductions from the deposit must be due to negligence, carelessness or intentional destruction by the tenant or their guests.



Undocumented costs (such as minor cleaning or repairs from wear and tear) can not be reported to other landlords, tenant screening agencies or any consumer reporting agencies. 

2. ADUs will soon provide another opportunity for rental income 

Many localities in Washington state had restrictive laws on Accessory Dwelling Units (ADUs) before 2024. For example, an ADU may need to be attached to the primary dwelling in some cities. This limited any opportunity for homeowners to build a detached ADU for rental purposes. 

The City of Seattle shifted their rules to provide more diverse housing options and thanks to statewide reform, other governments need to follow suit. This change means that homeowners will no longer be required to live in the primary residence and that ADUs are allowed to be detached from the home. 

This gives homeowners more options to create a rental on their property. For example, if a couple wishes to downsize after their kids move out, they could build a detached ADU on their existing property and rent out the main home to create a stream of passive income in retirement. 

These revisions started in July 2023 and need to take place within six months of each GMA or cities required update period, so check with your local municipality for more information on where you stand in 2024.

3. Washington state eviction laws are changing

Legislation: Various including SB 5197 for remote hearings and local updates 

Statewide, in 2024 landlords and tenants will be able to request that their eviction hearing is held remotely. The courts will need to grant a request unless there is a reason for needing them to attend in person. 

At a city level, eviction laws are evolving and vary greatly, particularly in areas such as Seattle and Tacoma — so be sure to check with your local county before proceeding. For example, in some cities you are not permitted to carry out an eviction during the school year if any of your residents are students or educators. There are also restrictions around evictions during cold weather, preventing people from being unhoused between November 1 and April 1. 

Read More: 9 Homeowner Questions Answered On The Eviction Process in Washington State

4. The City of Tacoma enacted a tenant bill of rights

Legislation: Measure No. 1 or ‘Landlord Fairness Code Initiative’

Changes came into effect: 8 December 2023

In November 2023, a new ballot initiative was approved in the City of Tacoma by a razor-thin margin. Known as ‘Measure No. 1’, it created a ‘landlord fairness code’ that changes the requirements around rent increases, move-in costs, pet fees, late fees, evictions, relocation assistance and health and safety requirements. This is further to the Rental Housing Code, which was also updated in July 2023. You can learn more at the City of Tacoma website, but if you own a rental home in Tacoma, be aware that:

There are new notice requirements before increasing rent, with the first notice required between 210 and 180 days prior to an increase



If you enact a rent increase above 5% or more and your tenant can no longer afford to live in the home, you will be required to pay relocation assistance equivalent to 2-3x the monthly rent (depending on the size of the rent increase)



The total fee for all move-in costs cannot exceed one month’s rent



A pet deposit cannot exceed 25% of first months’ rent and must be refundable if no pet damage is found



New eviction measures as mentioned in the previous section of this article 

Tacoma is the latest city to introduce these measures after the City of Bellingham made changes to their rent increase and relocation assistance laws in March 2023. 

5. Statewide reforms are still on the table

Housing is still very much on the 2024 agenda in Washington state politics. A housing density bill has already passed and is heading to the Senate for consideration, allowing a shake up of zoning laws to allow more homeowners to split their lots.

Rent stabilization is another hot topic under consideration. Different from rent control, there are many groups pushing for rent increases to be more closely linked to inflation. At the time of writing (Jan 2024), House Bill 2114 is in committee to look at rent stabilization by limiting rent and fee increases, security deposits and measures similar to those recently introduced in cities like Seattle, Tacoma and Bellingham. 

Wherever your home is located in Washington state, be sure to double check for any updates to local laws before passing on rent increases or proceeding with an eviction. 

Belong guarantees rent and offers eviction assistance 

Don’t Spend 2024 Worrying About Property Management, Belong Instead!

What to consider and how to manage secure, positive cashflow to weigh up living off of income from your rental home

Can I Live Off Passive Income Earned From a Rental Home?

Is it possible to live off passive income from a rental property? Most people invest in real estate to achieve long-term financial goals and security. If you can cover your expenses and maintain positive cash flow, it is possible that your rental home (or homes) could bring a steady stream of passive income. 

In 2024, holding a single-family rental can be very profitable — particularly if you own the home outright, have inherited a home, or have considerable equity in the home with low overheads. As for whether you can live off the income of a rental property alone comes down to your personal finances and living situation. Not everyone requires the same amount of income to live a comfortable life and not all rental homes will bring in passive income after expenses.

To decide if can achieve passive income and live comfortably from your rental income alone, there are three things you need to do first:

Run the numbers on your living expenses and income needs

Determine your capacity for managing a rental home 

Find a home or optimize your rental income that can achieve these needs

You should also consult with a financial professional before making any big moves. But this article will break down the three steps listed above to help you do the initial math. 

Step 1: Determine how much income you need your rental home to produce

Do you have a firm grasp of your finances in 2024 and beyond? There’s no point trying to live off rental income if it means you’ll have to give up your lifestyle or will struggle to pay the bills. You’ll need a solid understanding of two sets of monthly expenses — one for your rental home and the other for you and your family. 

1. Calculate your monthly rental home expenses

Any mortgage repayments or debt such as equity loans

Any capital improvements or planned upgrades

Expenses of managing the home such as property management fees or regular travel, legal costs and contractor costs when you need help 

Many of these expenses can be claimed to reduce your tax liability. Any income earned outside your rental home will influence the tax bracket in which this is calculated. Items such as capital improvements or needing a major upgrade on the home can’t be claimed upfront, but need to be added to depreciation of the home. 

Consider the age and condition of the home when calculating these costs. Things like a roof repair or new hot water heater could dent your income if you don’t budget for them or have adequate insurance. 

2. Calculate your monthly personal expenses

Personal expenses you’ll need to consider include:

Transportation (car, insurance, and gas) 

Insurance (health insurance, rental property insurance, life insurance)

Any debt repayments and credit card interest

Ongoing subscription services (like TV streaming services or cable, any gym memberships, sports)

Travel expenses if you are planning trips or visiting friends and family

Don’t forget expenses that crop up less often that might not be on your radar every month. Things like renewing your license and registration or a passport or visa costs. If you visit family interstate every Christmas, have you calculated the cost of travel, along with any other future plans? 

The shortcut method for calculating this can be to use your current monthly take-home income as a starting point to work out your income needs. Be sure to account for any other sources of income that you will continue to have. 

The housing market is not static. You may have a vacant home between residents. Rents will rise and fall. Your home could be hit by a natural disaster and need to be vacant during repairs. Contingency planning is crucial to any budget — especially when projecting what you need to live on. 

When deciding if you can earn enough passive income from a rental home to live on, buffer in an emergency fund that can cover your expenses if your income falls. A good rule of thumb is 3 months worth of income, but anywhere between 3-12 is a good idea, depending on the level of risk you are willing to take on. This fund will give you a safety net for the unforeseen and limit how much debt you will need to take on such as relying on credit cards.

If you already have a cash flow-positive rental property, consider continuing to work or maintaining other income sources until you’ve built up an emergency fund. 

4. Don’t forget to plan for your retirement

How far away is retirement for you? Are you already on track or does selling property factor into when you can retire? It’s wise to speak to a financial advisor before making the leap into living off passive income, to ensure you are on track to fund your retirement. If you are still saving for retirement or hoping to retire early while living on your rental home passive income, you’ll need to factor this into your monthly expenses. 

Step 2: Determine your capacity for managing a rental home

When you own a rental home, it needs work and commitment to manage it effectively. Even if you wish to self-manage the home, there will still be time, effort, and costs associated with the daily operation of your rental home. 

This includes travel to and from the property, the cost of screening tenants, legal fees, accounting, rent collection and a whole host more. When it all adds up, the income is not exactly passive. In fact, if you do enough work on the management of your property business, you may be considered a real estate professional and taxed differently. Factor this into your budget planning. 

If that feels like too much work and you want a passive income stream, you will need to look at outsourcing the heavy lifting. This could be to a traditional property management company, which will cost you anywhere from 6-12% of your monthly rental income. But this isn’t the only cost you need to consider when hiring a property manager. Be wary that most charge hidden fees and add on extras that you may consider essentials, such as marketing, inspections and eviction assistance. 

The alternative is Belong. We are a tech-enabled company with a human heart. We want to keep rental homes in the hands of individuals, by making it easier to achieve financial freedom through real estate. We offer financial security such as guaranteed rent, home insurance products, 24/7 customer service for both homeowners and their residents and more. And we never charge hidden fees that eat into your cash flow. 

Step 3: Find rental properties that will allow you to live off passive income

Living off rental income? Your home needs to be in the right shape to hit those financial goals. 

If you already own a single-family home, you’re off to a head start. It’s likely you’ve already built equity in the property and if you’re lucky — locked in a low mortgage rate if you still owe money on the home. You can skip to the next step! 

If you need to break into the real estate investment market, you will need to identify properties aligned with your financial goals. You’ll want to look for a market where demand for rentals is increasing, but there are properties in your price range. You can also look for areas with stable job markets and economic growth.  

Can you live off of rental property income? Here's what to consider and how to manage secure, positive cash flow to weigh up living off of passive income alone.

Texas housing laws 2024: Some rules are changing, others are in litigation. Here's 4 laws that Texas landlords need to know when renting out their home in 2024.

What Texas Landlords Need To Know About Rental Housing Laws in 2024

New year, new laws for Texas! Housing legislation is always evolving. If you own a rental home in Texas, you’ll need to stay on top of shifting laws and regulations. While 2024 doesn’t usher in major changes, there are recent laws in place that are worth brushing up on — plus one to watch that is in the current litigation. 

Here’s a quick round-up of four housing changes Texas homeowners should be aware of in 2024. 

1. Texas homeowners are getting tax relief in 2024

In very welcome news for Texas homeowners, property taxes are going to be cheaper in 2024, thanks to Proposition 4 passing in November. By providing more funding for public schools, less tax needs to be collected from homeowners. At a cost of $18 billion, this is the largest cut to property taxes in Texas history. It will provide an average saving of $1,000 for homeowners in the state — a welcome boost to your rental cash flow from 2024. 

2. Homeowners Associations need to be more transparent about fines in 2024

Homeowners Associations or ‘HOAs’ can be tricky to navigate, especially when your home is on the rental market. There have been complaints about a lack of transparency for policies and fines, which has been addressed by new laws in Texas. As of January 1 2024, House Bill 614 requires Texas HOAS to explain and outline their rules and fines. Potential homeowners will also have better access to this information before buying a home so they know what they’re getting into. 

For rental homeowners and investors, this will make compliance easier by having a better understanding of fines relating to:

Individual misconduct from you or your residents

House Bill 1193 also came into effect in September 2023, prohibiting HOAS from discriminating against tenants based on their method of payment. The law comes after an HOA tried to discriminate against a resident in Denton County who was paying with a Section 8 housing voucher.

Read More: How To Rent Your Home and Stay HOA-Board Approved

3. Security deposit laws and rental fees are evolving

Many states such as California and Florida are beginning to put caps on rental security deposits and introduce the option to pay a fee instead of a security deposit. As of January 2024, there are no legal caps on upfront security deposits in Texas — but there is the option of a fee alternative.

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