How to Get Top Dollar For Your Rental Property
Owning rental properties is arguably one of the best investments you can make. It’s easier to get loans for, it’s a commodity that’s always needed, and it’s a fairly predictable source of income. But what if you’re not earning as much as you could on your properties? What if you constantly have vacancies or can’t seem to get top dollar? If this is the case for you, there are a few things you can do to change it.
Be a good landlord
Your reputation as a landlord will precede you. So, if you want the best quality renters who will stick around, make sure you’re a good landlord. And you don’t have to be a pushover to get this done. Good renters understand their responsibilities and won’t often overstep their bounds. Half the battle of earning top dollar for your property is finding those quality tenants. And the other half is respecting them. To make sure you get renters who will take care of your property, pay the rent, and stick around, make sure you thoroughly screen all your applicants. You can install free landlord software to make your job easier. And don’t fail to check their references and set certain income and credit requirements.
Secondly, educate yourself on tenant rights in your state. For example, you can’t enter a renter’s property without permission in any state unless it’s an emergency. And every renter is entitled to a safe place to live. Certain repairs, such as plumbing, heating, and … Read More
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