Am I ready to be a landlord? Part 2

Transcript

Once you've purchased your first rental property, what comes next?

Hello, and welcome to another WIN Home Inspection video blog.

{marker} Owning and managing a rental property means having a second job. Before you can start seeking tenants, you must determine if you want to handle the management aspect of renting out a home or apartment.

If you manage the property yourself, you must respond to renter maintenance calls and take care of the grounds. When tenants get locked out of their units or have a leak, you must be available to fix the issue in a reasonable time.

{marker} Your other option is to hire a management company. This third-party business will take care of all maintenance requests, groundskeeping and even vetting tenants in some cases.

Be sure to check back here for tips on becoming a landlord!