You'll need to wear many hats in the business of property management: advertiser/promoter (in seeking tenants), host (in showing your property), handyman (in keeping up with and arranging repairs), bookkeeper (in maintaining records), and even counselor (in dealing with tenants and their problems). But Property Management For Dummies will help you maintain your sense of humor – and your sanity – a...
Series: For Dummies
Paperback: 384 pages
Publisher: Wiley Publishing, Inc.; 1 edition (April 15, 2001)
Product Dimensions: 7.4 x 0.8 x 9.2 inches
Amazon Rank: 772623
Format: PDF ePub fb2 TXT fb2 book
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I just paid off my house mortgage and decided that it might be a good idea to invest in a rental property. I didn't have a clue as to what that might entail, in fact, the only time I ever lived in a rental was for two years and we rented from my in-...
with these challenges and more. You may become an unintentional property owner – someone who inherited a house from a relative and didn't want it to sit idle, or someone who transferred to a job in another city and decided to rent your home rather than sell it – or you may have entered the world of property ownership intentionally. Either way, real estate offers one of the best opportunities to develop a steady stream of residual income.Property Management For Dummies is organized by specific topic areas, so you can easily and quickly scan a topic that interests you, or you can troubleshoot the source of your latest major headache. You'll discover how toEvaluate your skills and personality to see whether you have what it takes to be a landlordKeep your units occupied with paying tenants who don't destroy your propertyMove in your new tenants and move them out – and everything in betweenAssemble the right team of professionals to help you, from employees to contractorsInsure your property and understand the taxes that go with itLook for additional sources of income beyond rent, including the opportunities and pitfalls of lease optionsWhile many of life's lessons can be uncovered by trial and error, property management shouldn't be one of them – the mistakes are too costly and the legal ramifications too severe. In this book, you'll find proven strategies to make rental property ownership and management not only profitable but pleasant as well.