Earning money by renting out property seems like a dream job, but it takes a certain mentality and skillset to succeed as a landlord. Meek or lazy people can turn the gig to a nightmare for themselves and their tenants.
Free From Broke suggests would-be landlords determine whether or not they’ve got these qualities that will help them to succeed:
* Professionalism. This entails the firmness to demand and collect rent, but also the humanity to respond to extenuating circumstances with class.
* Responsibility. When there’s a repair needed at the residence, you need to be aware and accessible enough to fix the problem as quickly as if it were your own. This means being available at odd hours and having the presence of mind to make sure your tenant has someone to contact when you’re out of commission.
* Detail-obsession. When you’re preparing a property for rental, you need to make sure the unit is hospitable to the next resident by making sure it’s clean and functional. Gloss over some small, off-putting details and you’ll get the business relationship off to a poor start, or possibly kill it altogether.
Are You Cut Out to be a Landlord? [Free From Broke]