There are more rental property opportunities available today than ever before. A growing number of potential homebuyers are holding off and flooding the rental market. This has created ample demand for rental properties and in turn demand for landlords.
On the surface, owning a rental property is easy. You buy a property, find some tenants and wait by the mailbox for rent checks. If it was only that easy, everyone would do it. Being a landlord isn’t the hardest thing you will do in real estate, but it is certainly has it’s set of challenges. If you don’t know what you are doing going into it, you can quickly get swallowed up by the process. Before you make an offer on a rental property there are a few key items you need to consider. Here are five do’s and don’ts to becoming a successful landlord.
Being a successful landlord takes time and commitment. Use these five do’s and don’ts as a guide on your next rental property.