There are a lot of benefits to being a landlord when you make a long term investment in a rental property. But there are risks if you do not know what you are doing. There are three things in particular you need to be keenly aware of: the landlord tenant laws that dictate what both you and the tenant can and cannot do, the condition of the building (s) you will be renting, and your tenants.
In order to understand the various ways to manage a property portfolio you need to understand first what it is. This is the place where every detail of the various properties are kept. Essentially this will be your guide book as a property agent to help find the perfect location for each client.
As experienced property managers, we have learned to recognize these 10 "red flags" during the tenant screening process. These are the 1st 5 "red flags" we encounter while showing the property to a prospective tenant. Try to remember that theses are only "red flags" and their answers may be true but there is a need to investigate further.