Takeaways:

  • Being a landlord comes with a lot of demands — creating lease agreements, screening tenants, marketing rentals and evicting tenants.
  • It’s a lot cheaper to retain a tenant than to find a new one, so do what you must to keep your tenants happy.
  • Use available technology to make your job easier and hire professionals. 

Passive income. Setting your own work schedule.

Ah, the life of a landlord. Living the dream, right?

Not exactly.

The truth is, being a landlord can be a dream come true for some people and an absolute nightmare for others.

As Ross Schmidt, a reputable financial adviser, put it, “Real estate has created the most millionaires but also has led to the most bankruptcies.”

Being a landlord comes with a lot of demands — creating lease agreements, screening tenants, shelling out eviction notices, following fair housing laws and marketing — that can easily become overwhelming, especially for first-timers and owners of multiple rental properties.

But, as with anything, if you know what you’re getting into and have the proper systems in place, “landlording” can be a very rewarding and profitable venture.

To help provide some guidance, the team at Jacob Grant Property Management put together this infographic outlining 20 things you need to know to become a successful landlord.

The tips are based on over a decade of professional property management experience.

You can view the full post here.

 

(Click to enlarge)
 
 How-to-be-a-successful-landlord-in-2015

Share this Image On Your Site

This post was written by Jake Durtschi, owner of Jacob Grant Property Management located in Idaho Falls, Idaho. Jake and his team manage over 400 rental properties in east Idaho.

Email Jake Durtschi.

Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Success!
Thank you for subscribing to Morning Headlines.
Back to top
×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription