Why Did I Become a Landlord?: The Things You Need to Know Before You Take That Leap of Faith

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Trafford Publishing, Mar 2, 2011 - Self-Help - 72 pages
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Landlords do more than just collect rent. They also deal with tenants who do not pay, maintain properties, and cope with all the problems that come with being a landlord. It’s a business that can still be lucrative for those that arm themselves with knowledge. As someone with twenty years of experience in real estate, Karl Wideman shares the tools you need to succeed. In this guide, you’ll discover: • how to evaluate properties for purchase; • tips on selecting good tenants and evicting bad ones; • the best ways to maintain your properties; • what you can reasonably expect as a landlord. If you are thinking about becoming a landlord, or if you are already one but don’t have a game plan, then you need the tips offered here. Avoid mistakes and pursue a strategy that will make it easier to become successful. This is one guide you’ll refer to whenever you encounter problems that lead you to ask: Why Did I Become Landlord?
 

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Contents

One The Model Tenant vs The Pesky Tenant
1
Two Dos and Donts
3
Three Joys and Benefits of Rental Properties
4
Four Advantages of Living in Your Rental Property
5
Five Location Location Location
6
Six Buying a Property to Rehab or one that is in Decent Shape
7
Seven How Much to Spend on Rental Property
8
Eight Advantages of a Flat Roof vs a Pitch Roof
11
Fifteen Handing Over the KeysHaving Tenants Sign Pictures
33
Sixteen Collecting Rent Payments
34
Seventeen Things to Expect
37
Eighteen Service Calls
39
Nineteen Cost Saving Tips
41
Twenty Stress and Rental Property
46
Twentyone To Keep a Tenant or Not
49
Twentytwo What Happens When You Fall Behind on the Mortgage?
52

Nine Securing Your Rental Property
13
Ten Getting Apartments Ready to Rent
17
Eleven Using Agencies or Not?
19
Twelve Tenant Screening
21
Thirteen Rules of the Building
29
Fourteen Security Deposits or Not?
32
Twentythree Eviction Day
54
Twentyfour Liabilities of Owning Rental Property
55
Twentyfive Violation Court
57
Twentysix The Award Seeking Tenant
58
Twentyseven Final Words
59
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