My New Blog

It's an excellent time to be a landlord. The subprime bust, marriage-delaying millenials and week income growth have added millions to the ranks of renters.  Here are some suggestions for successful landlord:

• Consult with me to determine your current purchasing power.
• Planning to convert your current home to a rental property? It is easier than it used to.
• Create your list of questions to weed out problem tenants.
• Know local rent laws concerning security deposits, eviction process etc.
• Check out rentometer for going rate of rent and to avoid shortfall of mortgage payment. 
• Hire professional management company if you choose not to be involved.
• Verify references.
• Run background check and credit report.
• Consult with an attorney or visit the landlord protector before finalizing lease agreement.
• Collect security deposit equal to one month's rent.
• Perform a walk-through and note any imperfections before tenant moves in.
• Check on the property at least once a month and look for signs of trouble such as garbage in the yard, extra cars in the driveway or excessive wear and tear.
• Make arrangement to walk through the property three months into the lease to see how well the tenant is performing.
• Advertise for rent within a few weeks of closing.
  
• Choose a renter wisely. You are better off having a pleasant reliable tenant paying less than a difficult tenant paying market value.
  

Consult me if I can help you to become a landlord!