Anyone here own rental properties?

[asd60303]

My dad owns an apartment building. He interviews the potential tenants before he rents to them, if he thinks they are trashy people he won't rent to them. He never rents to kids or younger couples Usually he'll find elderly people to rent to because they don't trash the apartments or damage them. Granted he has had a few bad tenants but nothing crazy.

 

[Rebel]

Get ready to rent

I have two apts. I rent on the property my business is on. I have found when finding tenants: advertise by word of mouth only, interview thoroughly, and get your wife's or mother's opinion of the tenant. Make a rental agreement and be very specific. Make the rent high enough as not to scare people off, but to keep the riff raff out. You can make the rent amount$$ negotiable. If you let the unit sit empty it will ruin itself, days turn to weeks, weeks turn to months... You should prepare for the worst such as furnace breakdown, roof repair and stuff like that. Small repairs are just a nuisance but are going to happen. The rent you collect should be put aside and used sparingly. I have not had a tenant that has been a hassle. If you are only 6-7 miles away, try to make an excuse for unexpected visits.