Reply to how to be a successful landlord (i.e. right way to choose tenant and avoid problems)

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[quote=Anonymous]Don’t love the house. Accept that it’s just a house.

Understand and familiarize yourself with what constitutes regular wear and tear. Marks on the wall, wall dings, - normal wear and tear.

Understand and familiarize yourself with upkeep that is expected - you aren’t going to be able to charge the renter to repaint or recarpet - those things are on you. Working Heat is usually a must and gets treated as an emergency but working AC might not be.

Plan to visit the property once a year. Often renters don’t want to bother the landlord with little things but little things add up.

Pets - limit yourself to small pets in a cage - hamster, etc or small aquarium - desktop size.

Applicants - be honest with yourself and believe applicants when they present themselves and how they present themselves. If you are hesitant when you meet them don’t bother going forward. Don’t fall for hard luck stories and don’t rent to anyone who has to bring a friend/pastor/etc to vouch for them. Someone who just makes barely enough to qualify to pay the rent - accept if you rent to them they will be late at some point and may never catch up. [/quote]

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