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

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[quote=Anonymous][quote=Anonymous]Find a middleman, a rental agency. Big real estate companies (the ones you've heard of) often have a rental side.

These rental real estate employees manage rental properties.

They market your rental property, show the property, do due diligence on a potential renter (credit checks, etc.), handle all contracts and paperwork, and once an upstanding tenant is living there the rental agency side serves as the renter's contact for any issues. You never have to deal with the renter directly.

The rental agency also contacts you in case of any repairs to let you know what needs to be done, the contractor they will call, and the amount of the repair. You get final say. They deduct the repairs from your next rent check. You receive a copy of the repair statement for your records.

The rental agency deducts a small percentage from your monthly rent check (they also collect the rent from the renter for you) as their payment.

They also handle contract re-upping. If renter moves out, they put up the "for rent" sign and get about re-renting the place. They show it, market it, contract it, rent it. With your approval as owner, of course.

Going this route takes all the headache away. All you have to do is say yes or no. Highly recommend.[/quote]

You must be an agent. Their contractors always charge top prices. [/quote]

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