How do you know when you've set the rent too high for your Detroit Metro rental property? If your property sits vacant or you experience frequent tenant turnover, you might need to lower the rent.

Setting the appropriate rental rate for your properties is one of the most important parts of being a successful landlord. Your properties lose money when the rent is too low—or too high. 

How do you know how to set the right rental price? What can you do if it's too high? Let's look at the impact of your property's rental price and what to do if you need to adjust. 

Here's something no one has ever done until he or she became a landlord:   Determining the proper amount to charge in rent for a property.  You certainly know what your monthly cost is and you've probably had an appraisal done recently.  Unfortunately, these valuable steps are just the beginning.  There are many factors to determine when establishing the rental rate for a property.  If you are going alone (without the assistance of a property management firm), the whole process can be pretty bewildering.

With retail outlets playing “Jingle Bell Rock” overhead since the day after Halloween, it’s hard to forget that the holidays are just around the corner. While this time of year is a great time to enjoy the company of your loved ones, it also important to note that the holiday season also presents its own particular set of dangers. Please read the below tips for keeping safe this holiday season, particularly tailored for renters and their landlords.