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Reply to "Tell me about being a landlord in dc"
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[quote=Anonymous]I disagree. Have been a DC landlord 3+ years with positive experience and cashflow overall. I make good money renting and plan to continue renting after I retire. My advice? Make sure you are charging enough $$ for it to be worth your while. You need to make a profit and plan for potential repairs and vacancy. Review the law and have a good tight lease. http://och.georgetown.edu/uploadedfiles/Tenant_Survival_Guide.pdf is wonderful. Make sure your lease has a waiver of notice to quit. Screen your tenants carefully. Confirm employment and run background checks and rental history always. No exceptions and no sob stories. Don't overrenovate. A mediocre rental often has better cashflow than high end fixtures. A lot of people waste money on kitchen and bath. Aim for cheap, clean, and replaceable fixtures.[/quote]
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