Source: | Texas Association of REALTORS
Ready to sign up some tenants? Here are some tips to be a successful landlord.
- Know Your Market: Just as you perform due diligence on a property and its condition, you should do your homework on the area’s rental market to determine the demand for your property and the rent you charge.
- Polish Your People Skills: Successful landlords find good tenants and retain them.
- Get Some Digits: Maybe you can handle annual touch-up work on your property, but unless you’re well-versed in HVAC systems and your city’s plumbing and electric codes, you’ll need phone numbers for reliable repairmen.
- Protect Yourself and Your Investment: The insurance coverage you need as a landlord is different than what you have as a homeowner. Contact your insurance agent to make sure you’re covered.
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