It occurred to me that with the burst of the housing bubble, many people are now renting out properties that they could not sell. This has turned many property owners into Landlords. Becoming a Landlord can be a rewarding and often profitable venture, if the Landlord is smart about managing his or her property, and is thorough in verifying prospective tenants.
Before any person decides to become a Landlord, they should do some homework. Yes, owning rental properties is much like going to school, and much like in school, a Landlord does not want to be bullied. There are several ways a landlord can be bullied with regard to rental properties. For example, a Landlord must calculate the amount of rent to be charged, in order to cover all costs and yield a good return on his or her investment; any miscalculation, and a Landlord may be stuck in a long-term contract and with a property losing money. Another way a Landlord can be bullied is by choosing the wrong Tenant to live in the property. A poor Tenant might be habitually late with rental payment, not pay rent at all, or even cause damage to the rental property. However, there are certain ways a Landlord can assure he or she is not bullied, and in fact ends up at the top of his class…
The LawGuru Legal Articles Library has a new article entitled, “Renter from Hell: What Every Landlord Should Know About Their Tenants.” It is full of tips every Landlord can use to protect themselves, their rights and their property. I encourage you all to check it out, and you can do so by clicking here.