Before You Become a Landlord

By E-Renter Tenant Screening
Posted on September 30, 2008 under Landlord Tips | icon: commentBe the First to Comment

Owning and renting properties has become the way to riches for more than one landlord, but before you head down that path to becoming a landlord be sure you know what it takes.

  • You’ll need to know that the rate you can ask for your property in your market will be enough to cover your expenses.
  • Equally important is to be sure you know what those expenses are! You need to cover not only your monthly mortgage, taxes, and insurance; you also need to plan for routine maintenance, vacancies between renters, and unexpected emergencies.
  • You’ll need to be sure you are aware of laws regarding Fair Housing, the best way to attract and keep good tenants, and what to do if you do have to evict.

Once you have all the facts, you can make an informed decision and, if you choose, become a successful landlord!

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