The duplex also has an apartment in the back...all 3 are occupied for over 2 years...
What do I need to know to be a good landlord?
The owner now wont make them pay some months and is never in contact with them...I will not be like that
Answer by m-avi at 10:33 PM on May. 19, 2013
Answer by PMSMom10 at 10:35 PM on May. 19, 2013
Answer by QuinnMae at 10:42 PM on May. 19, 2013
Your state should have a landlord-tenant handbook. I would read up on what is required from you. If they have a current lease, honor that until it is up and then make any necessary changes, however, inform them of the changes at least 2 months in advance. That way they can decide if they want to stay or move. Also, find out what the procedure is for eviction in your city. When they sign your new lease, make sure that you have something in there about if rent is more than 30 days (just an example) late then you will proceed with eviction. At some point you will need to find new renters and I suggest that you screen all renters to see if they have had prior evictions. You can do this by going to city hall or your city may have this info available online. Cont..
Answer by JeremysMom at 10:45 PM on May. 19, 2013
Cont.. If you go on vacation, expect to be called because a heater is not working, there is a pipe leak, something broke, etc. It will happen, trust me. Good Luck! Being a landlord is not all peaches and cream. It's a hard job. Be prepared to put back what you have earned back into the rental. You will not likely see any profit (especially if you have a mortgage on this property) for the first year or so.
Answer by JeremysMom at 10:46 PM on May. 19, 2013
Answer by aeneva at 9:11 AM on May. 20, 2013
Answer by DivaNCali at 8:27 PM on May. 23, 2013