RentalsTechnology

20 tips to be a successful landlord in 2015

These tips will have you enjoying your tenants and have them enjoying you, too

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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.

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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.

 

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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.