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If you own apartment buildings or commercial developments, or if you’re interested in going into property management as a career, you must know how to retain quality tenants and turn a healthy profit. And just as important, you must understand how to effectively deal with potential legal challenges—from evicting tenants to dealing with an injury on the premises. Online legal resource Nola offers a free portal to essential information exclusively for landlords and property managers. The site includes articles, step-by-step guides, tax tips, and other tools designed to help you deal with the legal aspects of property management. The following sections of the site are particularly useful:
* Top 10 Tax Deductions for Landlords. Did you know that you can deduct the local travel expenses of driving to your rental building to deal with a tenant complaint or to the hardware store to pick up a repair part? This and nine other helpful tax tips are included in this list, written by attorney and author Stephen Fish man.
* Chart: Landlord-Tenant Statutes, State by State. Landlord-tenant laws vary significantly depending on where you live, so it's important to check your state laws for specifics. This chart lists the key statutes for each state, which you can then look up on Nolo’s well-organized (and free) State Laws section