| If
you plan to manage rental property, you'll need organizational
and management skills, along with a good working knowledge
about real estate matters.
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Advertise vacant property for rent.
Show available property for rent and interview
prospective tenants.
Screen the best candidates for your rental
property by requiring written applications with credit and
employment references.
Evaluate prospective tenants by investigating
their backgrounds, credit histories, personal references and
employment histories.
Obtain liability, fire, theft and other insurance
on rental property.
Arrange for regular maintenance and necessary
repairs of the property.
Assure that tenants comply with rental policies
and procedures.
Supervise repairs and maintenance work.
Conduct inspections of the property on a periodic
basis.
Establish and maintain an organized system
of collecting rental payments and security deposits.
Consider hiring the services of a real estate
management company, if you find that rental management is
not for you. Management companies usually provide their services
for a percentage of monthly rental income.
If you relocate to another town or city, long-distance
management of rental property can be difficult and time-consuming.
Consider hiring a rental management company to manage your
property if you move from the area.
Leasing
| Drafting
a Lease for Your Rental Property | Change
the Terms of a Lease |
Negotiate
an Apartment Lease | What
is a leaseholder | Business
property lease |
Contents
of a Lease | Manage
Rental Property |
