Managing new rental property

Posted in General | Wednesday, February 25th, 2009 | 1 Comment » Trackback


Here are some tips if you are considering entering in real estate property renting:

1. Determine the actual worth of a piece of property. Check all the accounts and if tenants pay their rent on time. You may also opt for a background check on tenants.

2. Have a look see at the actual property to see its real condition. Check for fire damage, heating system, wood condition, plumbing, etc. You may bring a home inspector for a more thorough inspection. Also look out for “ghost renters” as some sellers pretend they have renters so that they can jack up their prices.

3. Determine if the house was built in accordance with the law. Make sure that the property meets government safety standards.

4. Check the existing agreements between the current seller and the tenants so you will be familiar to the policy and make changes if you desire.

One Comment

  1. realestatedailytrends.com » Blog Archive » Being part of the community Says:

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