The typical landlord starts off life as a light hearted real estate investor. The investor is brimming with enthusiasm and is determined to acquire some single family homes that will be attractive to renters... and start down the road to financial independence.
Then... Wham! Reality smacks them right in the face! The investor-landlord is fair game for almost everyone.
Why? Because nobody loves a landlord.
It's bad enough that many renters don't quite understand that without their monthly rent payments the landlord can't make the mortgage payments on the property.
A few renters are surprised to learn that the family room of a rental home was just not designed as the place to rebuild motorcycles.
Nobody loves a landlord.
And then... how many legal hoops must the landlord jump through? In most states tenant/landlord law favors the tenant in many ways
For example:
A tenant signs a one year lease. Six months later the tenant breaks the lease and moves. Now the law demands that the landlord find a new tenant for that unit as quickly as possible.
Yes, the tenant only has to pay rent until the new tenant is found... but the burden falls on the landlord. Why shouldn't the tenant... the one who broke a contractual promise have to find the replacement tenant?
Why? Because nobody loves a landlord!
Here's the first paragraph of a story in my morning newspaper
"A huge marijuana garden of 212 plants nurtured by an intricate irrigation and lighting system worth ten of thousands of dollars was uncovered inside a West Valley rental house Saturday."
The house was vacant except for the cash crop and I can't help but wonder if the growers were getting government farm subsidy payments?
The home has an out-of-state owner. Some poor investor who thought he would cash in on the fast-rising Arizona home values.
Here's the kicker. That investor could be held responsible, because he did not properly supervise the use of the property! Many areas have such laws.
Why? Because nobody loves a landlord!
This should be a reminder to all of us that a rental house or unit is not a set-it-and-forget-it investment. Every good lease or rental agreement has an inspection clause that allows the landlord or his representative to periodically enter and take a look at the condition of the premises.
Are you doing that? You should be, because...
Nobody loves a landlord!
About the Author: Mark Walters is a third generation real estate investor who shares his experience from his Web sites: http://www.lease-option-sub2.com
http://www.CashFlowInstitute.com
Real estate investing begins when you move to the starting... Read More
You hear it asked on the radio, in the newspapers... Read More
There are two sides to real estate development feasibility study:... Read More
Selling income property isn't like selling a house. You can... Read More
We all are thinking about it and some of us... Read More
Don't be tempted by "We Buy Houses" or "Sell Your... Read More
Closing costs are often the last thing a person thinks... Read More
How do you decide whether to sell your home (or... Read More
My report is for you to use your power to... Read More
Do you dream of making money in real estate? Do... Read More
Who wouldn't want to move into a Maui beachfront house?... Read More
Earlier this year the Hawthorn suites in Lake Buena Vista... Read More
After years of experience in the real estate industry I... Read More
All of us have emotional preconceptions and assumptions. They are... Read More
Do strangers scare or intimidate you? If you're planning to... Read More
The Log home industry has matured these last many years,... Read More
Starting real estate business is not that simple. Multiple aspects... Read More
Welcome to the second segment of a three-part series about... Read More
It's not uncommon for an investor to sell a house... Read More
An effective real estate advertising strategy entails a 'shotgun' approach.... Read More
Are you a realtor with curb appeal or are you... Read More
Just like most things real estate investing can be broken... Read More
Follow a few simple guidelines, and marketing your own home... Read More
Real estate values rise and fall in cycles. Currently home... Read More
As Bulgaria readies for joining the European Economic Community in... Read More
According to the National Association of REALTORS® (NAR), a record... Read More
If you've followed any of the major survey agencies around... Read More
As the second largest city geographically in Florida, this beautiful... Read More
Houses for sale by owner, also known as "FSBOs," are... Read More
Here are some important steps you should take before you... Read More
Traditionally, real estate has been viewed as a sales industry.... Read More
A very smart attorney I know paid $7,000 for a... Read More
I've taught the concepts of Design Psychology for many years,... Read More
Human nature being what it is, none of us can... Read More
Branding can be done to any product, or any person.... Read More
Interior colors are vitally important to selling your home quickly,... Read More
Most of us don't talk about money, finances, credit, debt....Young... Read More
You are attracted to a home for more than its... Read More
Suppose you've been trying to sell your home for months.... Read More
Maybe you're moving to a larger home to accommodate a... Read More
When is the best time to buy? When is the... Read More
Moving to a new community can be a great adventure,... Read More
If you don't have the time to invest working on... Read More
Lake Havasu real estate is a hot commodity. With surrounding... Read More
Even if you're counting on rising property values to eventually... Read More
Besides the emotional upheaval of uprooting from your home, your... Read More
There are many expenses that come with buying a home.... Read More
According to the National Association of REALTORS® (NAR), a record... Read More
Every Realtor KNOWS that a home should be shown in... Read More
When it comes to home buying, the ideal situation would... Read More
Why are real estate investors having so much success offering... Read More
The best price to sell your home is always determined... Read More
Real estate stories radiate from the water cooler and cocktail... Read More
HOW TO SELL YOUR HOME FOR TOP DOLLAR1. Make your... Read More
Of course you should. I practice this for quite a... Read More
Rental real estate is a solid way to make money.... Read More
Home staging is the concept of preparing a house for... Read More
Selling income property isn't like selling a house. You can... Read More
Doing deals with sellers is why you went into lease... Read More
Selling your home requires some thought and a clear plan... Read More
Land subdivision is a bit like helping Mom slice up... Read More
Years ago, the only person that could buy a home... Read More
Most people who set out to buy a home, be... Read More
While most investors have got involved in property investing because... Read More
One of the most common statistics used when gauging the... Read More
As you continue to read about real estate investing, you... Read More
Real Estate |