Ten Tips for Landlords
Ifnvesting in residential real estate as a landlord can be a lucrative way to build long-term wealth. But before you jump into the landlord seat, you need to be aware of what might be expected of you. Here are ten tips for landlords.
- Provide a secure premise.
- Disclose environment hazards.
- Purchase liability and other property insurance.
- Screen potential tenants using a written application – use the same application for all prospective tenants.
- Choose and supervise your property managers carefully.
- Provide adequate notice before entering the rental property.
- Document the facts of the agreement with a written lease.
- Stay on top of maintenance and make all necessary repairs in a timely manner.
- Resolve disputes without lawyers and lawsuits whenever possible.
- Establish a fair system of setting, collecting and returning security deposits.
Knipp Commercial is proud to offer general contracting and commercial real estate services in Arizona, Nevada, and Georgia. We invite you to visit us online at www.KnippCommerical.com and view our online portfolio.