Am I ready to be a landlord? Part 5

Transcript 

As a landlord, there are a few factors you should consider when it comes to rent. Make sure you know what factors determine a fair rate.

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

If you decide to become a landlord, it is important to establish a rental rate that is fair and allows you cover costs and make a profit. The economy, proximity to transportation options, neighborhood appeal, local housing market and the condition of the rental units determine how much you can charge.

When your local housing market is healthy and demand for property in your area is high, aim for a 1.25 percent return on a monthly basis.

Stay tuned for more tips on becoming a landlord!