Owning rental properties and becoming a landlord is a dream that many people have. Lots of people dream of buying a few rental properties and then sitting back and watching the equity grow in the home all the while collecting large rent checks every single month.
Learn how to make your rental more desirable. Do you have trouble renting some of your properties. Have you ever asked yourself what upgrades would make your rental more desirable?
Let’s face it, tenants these days don’t want a stripped down version of a house. In their dreams, they want a home with all the amenities and extras that their friends and family have.
When it is time to collect rent from your tenant on the first day of the month, you need to make it easy for the tenant to pay you. Your tenant shouldn’t have to hunt you down to pay the rent each and every month. Nor should you have to go knock on doors every month just to collect the money you are owed.
When you become a landlord, whether you have one house, five houses or hundreds of houses, you need to figure out if your property is valued fairly. (more…)
Who should pay for lawn care, pest control and utilities. Fortunately, they are almost always the responsibility of the tenant when renting a home in my area. However, I talk to landlords from all over and it seems that this does vary from area. Your job is to know what is considered “normal” in your area so you don’t end up paying for something you shouldn’t.
