20 tips every landlord should know
Are you thinking of investing in a rental property or already own one? Here are 20 financial tips to help you make informed decisions about acquisition, administration, insurance, maintenance, renovation, tenant relations, and other issues.
Know the law
Monitor the rental market
Enlist the help of specialists
Join an association
Live in your rental property
Pay off your mortgage faster
Set up an emergency fund
Take advantage of tax rebates
Know your options in case of financial difficulties
Make sure you’re well insured!
Maximize your renovations
Vet your contractors
Get your hands dirty
Keep a list of emergency repair services
Ask for a security deposit
Keep your tenants happy
Know your rights regarding unpaid rent
Sell your unpaid rents
Source: msn.com