What Does It Take to Be a Landlord

Hi, I am Ann and I am here to talk about what dose it take to be a landlord. First, know the rules. Be sure to know the fair housing act and talk to a real estate professional about the leases. Are you going to do the leases yourself or you are going to have a real estate agent do it for you? What are your expectations of the tenants? Be clear about your expectations for yourself as well and be willing to communicate. Negotiate with your tenants whenever possible for instance a tenant asks can they take off some rent in exchange for doing some painting or some work. Be willing to discuss that but also be very clear and write down. Keep a summary sheet. Write down all your communication with your tenants. Are you going to collect the rents if so it gives you a chance to eyeball the property. But remember you cannot enter the property without written notice to the tenants before hand. Again, it is very important that you should know the rules and speaking of rules remember the golden rule. Try to treat your tenants the way you yourself would like to be treated.

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