There are many articles about the boom in the rental market. Right now there are over 100 million renters in the US. Did you know that a large majority of those renters are renting from mom and pop landlords? In fact, the marketplace is dominated by landlords that own and operate 10 units or less. Many landlords either purchased rental property as an investment or fell into being a landlord and most have no formal professional education or tools to ensure their success.
In the Professional Real Estate Investor Class (next online class is in August) we have a whole section dedicated to evaluating a rental property. We also provide you with research tools that allow you to understand the local rental market. There are some basic things you’ll need to know and understand to find good tenants; such as vacancy rates and how to price your units. The time that one invests in finding good long-term tenants is one of the most important things you can do as a landlord. Look at it from the perspective of sustainability. If a unit keeps turning over, the cost can be prohibitive. So, here are some tips that will help… Continue Reading
