It’s not easy being a landlord. You have to get your house ready to rent. You have to advertise to get perspective renters. You have to select the right renters. And then you have to be at their beck and call in the case that they have a problem with the house. And then you have to collect the rent when they’re late or evict them when they don’t keep their promise to you. What a headache!

Or you can learn the secrets to being successful landlord and put all those headaches behind you. Here are three secrets to successfully renting out your house.

SECRET ONE: SCOPE OUT THE COMPETING PROPERTIES

To find out what you need to do to maximize your success, tour competing properties in your immediate area, acting as if you are prospective renter. You can find out how the other landlords treat their prospects and steal their best methods and make them your own.

Make sure that you pick up copies of their marketing material-that is what they give prospective renters to take away to remind them of what they saw.

Ask for a rental application to see what kind of things they’re looking for. Ask if they have a sample lease agreement that you can review. Not every landlord will make this available to you, but it’s worth asking for. (Look at my other articles for a free rental lease that you can use as an example.)

If you want to have the complete experience, fill out a rental application and see how you’re treated. You can just say that you found some other place or changed your mind if they pick you to rent the house.

If you do this with half a dozen properties, you’ll get a great idea of property conditions, rent ranges, and terms and conditions that are common in your area. If you’re new landlord, this experience can teach you a lot in very short time.

With this information it will be easy to see if it’s worth it for you to rent your home, or if you want to let somebody else manage it, or if you want to put on the market to sell.

SECRET TWO: MAKE YOUR HOUSE VERY DESIRABLE

If your house is just like every other house on the block or like every other apartment in the building, it will be difficult to attract a great renter that will take care of your house and pay the rent on time.

On the other hand, a clearly superior home will attract better renters and allow you to command a higher rent. The kind of people who you want as good tenants will be embarrassed by a dingy and worn-out home. They won’t want to bring their friends and family into that environment.

This means you need to invest a little extra in the house to make it look great. With the information you gathered from Secret One, above, you can decide how to put minor upgrades into your home that really stand out from the competition.

I do simple things like upgrade light fixtures, install new flooring and carpeting, replace the kitchen sink, replace the bathroom sink, and replace the drip pans on the stove so it looks fresh and clean.

Consider fresh paint or carefully touch up the walls so everything looks clean and tidy.

I also make sure that the property is absolutely spotless, with clean windows, clean entryway, and professionally cleaned carpets. I also replaced all the light bulbs with maximum wattage bulbs so that the house is as bright as possible. A dark house doesn’t show well but a bright house moves fast.

SECRET THREE: SET YOUR RENT AT LEAST 10 PERCENT HIGHER

A slightly higher rent then the competing properties won’t scare away the type of renters you’re looking for, but will move along the cheap skates that you don’t need in your house. And besides, it will be worth it to your renters because your house looks so much better since you’ve followed Secret Two, above.

To make your higher rent stick, create a marketing page that calls out all the valuable capabilities and features of your home. You can learn how to do this, and learn more successful landlord secrets from http://NewLandlord.com.

Mark S A Smith learned how to become a landlord the hard way, when the townhouse that was his pride and joy lost most of it’s value in an economic down turn. Now he shares his secrets with those who want to keep their home but rent it out. Check out more of his ideas at http://NewLandlord.com

If you cannot sleep at night, chances are you will see an infomercial discussing the advantages of buying real estate. These shows tout how anyone can make a fortune investing in the purchase of investment property. Then you fix up these properties and then rent them out to tenants. There are plenty of upsides to being a landlord.

The biggest upside of being a landlord is to having tenants who pay your mortgage payment month and month and year after year. Most mortgages are either 15 years or 30 years in length. After that time is up, the tenants have completely paid off your mortgage for you. You will then own an income producing property scott free.

In addition to paying the mortgage off each month, the value of your property will increase each year. It is possible to have a property double or more than double in value after 30 years. As a landlord you will reap this appreciation in value.

During the time that you own the property, you could potentially have massive tax write off for owning an investment property. The ability to take a write off depends on the landlord’s tax situation. It is possible to write off the mortgage interest, property taxes and depreciation on the property for the entire 30 years. This write off will actually lower your personal tax that is due. Since you are playing less in taxes each year, it is like getting a free raise every year.

There are many upsides to being a landlord.

More millionaires made their fortune as real estate investors. This is just one method to use to invest in real estate. Regardless of the method that you use to build your fortune in real estate, you need a solid business plan to use as your road map to success. You can purchase the business plan I used to build a multi million dollar real estate business.

I will give you a free copy of Napoleon Hill’s book Think and Grow Rich plus other bonuses including what I learned building my real estate empire. Visit my website.

Very often people face the dilemma of whether to opt for renting a house or buying a house. These choices are mainly dependent upon the personal opinions and financial status of an individual. The various advantages and disadvantages of renting or buying a house are discussed below. The biggest advantage of buying a house is perhaps is that it increases your assets. Besides, owning a house implies guaranteed appreciation over a long period of time. When you own a house obviously you do not have to pay monthly rentals. The sense of ownership that is attached with owing a house is missing when you live on rent. As soon as you repay all the house loans, you will be the king of the house. When you move into your new house, you might want to make some changes. However, if you are on rent then of course you will have to take permission, whereas if you own the house then you can do whatever you want.

There are certain disadvantages also involved with owing the house. These factors make things more complicated. Firstly, you are ultimately responsible for all the maintenance and repair works of the house. You need to think a lot before you relocate to some other place. Property or house tax is something which you should also consider. Besides, it includes society charges, stamp duty, registration fees and society charges.

When it comes to renting a house then like buying it too has some advantages as well as disadvantages associated with it. Renting is hassle free as you need not take care of the house maintenance etc. Also, no property taxes or house taxes are to be paid by you, as the owner is responsible for the same. Renting a house gives you the freedom of changing it whenever you want. If you do not like the neighborhood you can change it any time you like and you don’t have to think twice for it. Now coming to the disadvantages, landlords increase the rent whenever they feel like. Secondly, you have to keep on paying; since the apartment or the house is not yours, therefore you cannot modify the house as per your own will. The landlord can anytime send the notice to vacate the place or the condition mentioned in the rent agreement.

House selling is fun and easy. Besides, it can get you a lot of money. If you are looking for some vital tips on Real Estate Contract then you must visit us at http://www.simplerealestatecontract.com.

When designing your home, the exterior is just as important as the interior. It is crucial to have good curb appeal for your home, for your viewing pleasure, your neighbors, and your resale value. There are certain tips that can increase your curb appeal and make your house look that much better. Today, with many houses being built out of the same models, making yours stand out is hard to do, but necessary.

This article will discuss a few ideas for adding great curb appeal to your home. The first thing people see is the exterior of your home, so you want to be sure that you are giving them the most that they can get out of it. Proper curb appeal done right will add so much more to your home. Make the most out of your curb appeal.

The first thing to having good curb appeal is a greatly manicured lawn. This will give people a great first impression of what your home has to offer. To have a great lawn, it requires great upkeep. Be sure to take great care of your lawn by proper maintenance, cutting, trimming, and weeding. If your lawn is spotty, you’ll want to look into installing new sod into portions of the lawn to help it grow. Or, you can always invest in a lawn maintenance company that will ensure upkeep of your lawn and make it look great every time.

With your curb appeal, your sidewalk and pavers are also very important. There are a few different choices that you have here. A lot of people go with the traditional sidewalks, and that is the most common. These can crack though, so be sure you maintain them properly. Others like stamped concrete that has designs in it to keep everything looking great. Lastly, brick pavers are highly popular, and allow for a great, winding sidewalk that has a great design to it. This is expensive, but the best for curb appeal. It also is the most time demanding to install.

It is also important to have nice looking shrubs, flowers, and bushes. Too many will turn people away from your yard, and too few is just boring. You want to find a fine balance between that and find great plants to add more to your yard. Blooming flowers in the spring will add a lot, just like evergreen shrubs in the winter. Find ones that are easy to grow, and good for your climate.

From a nicely manicured lawn, to a great sidewalk, to nice flowers, you want to make sure your home has the best curb appeal. Not only does this impact people’s impression of your house, but it makes you feel better knowing your yard looks good. Plus, if you ever choose to sell it, it will make a huge difference. Be sure to understand what looks good, and what is the easiest to keep up before you spend a lot of money on a curb appeal project. It truly will make a difference on your property.

Louise Scoggins is a leading Realtor in the Atlanta Homes market. For more information on Atlanta Real Estate, please visit ThinkLouise.com

The purpose of this article to inform readers that landlording isn’t that bad, but that there are some situations you can avoid getting into that can cause you a massive headache. Despite being a landlord for over 10 years and having worked with many tenants, this most recent event took the trophy with respect to my landlord nightmare. In order to protect privacy, names have been removed from the article.

The nightmare wasn’t evident until we gave Tenant A notice that we wanted our basement back for our own personal use. Up to that point, Tenant A was a good tenant, asking for minor repairs every once in a while, but nothing major. Where we went wrong was being too accommodating and too nice. The following is a list to outline what not to do and what to do as a landlord – from our experience. It may appear to be a little bitter due to this most recent experience, but it will serve others and myself again as a reminder to not be so nice with future tenants.

What Not To Do as a Landlord:

1. Do not think that because you have a good relationship that you should void a rent increase. Inflation, rates and bills increase, therefore rent should too.
2. Do not allow the tenant to occupy more space with their belongings than what is written on the lease.
3. Do not allow the tenant to speak to you at their convenience.
4. Do not give tenants any gifts for birthdays, anniversaries, or holidays.

What To Do as a Landlord:

1. Remember that it is your property and you are renting it out to a person for a period of time. They do not own the property, you do. You are an owner of this property as a business. They are a temporary customer, but in this situation, the customer is not always right.
2. Increase rent annually (or as your lease permits) to the maximum you can (if you have rent control) or reasonably if you do not have rent control.
3. Ensure you have a written and thorough lease, leaving nothing out.
4. Check annually on their tenant insurance to make sure it is still active (this should be stipulated in your lease).
5. Perform regular inspections of your unit. Every 4-5 months is ideal. Tenants will not keep units as clean as if it were their own home. Particularly pay attention to the bathroom and kitchen as these are areas where lack of maintenance/cleaning can lead to moisture problems and eventually mold growth.
6. If the tenant has an issue, ensure they correspond with you via written documentation (unless it is an emergency). Respond in a timely manner (24-48 hours) when it is convenient for you and the tenant to speak (not just the tenant).
7. Treat the tenant with respect, but do not confuse being a landlord with being a friend. If they stop paying rent, will you still like them as much?
8. If there is extra space and the tenant is requesting to store items in that space, amend the lease and charge per square foot.
9. Before leasing your unit, ensure you do thorough checks on the tenant including credit checks, background checks, and multiple reference checks.
10. Before leasing the unit, if they are currently living somewhere, request the address and then drive by or visit the property with them with short notice. That way you can see how they are currently living and if they are clean tenants.

Despite this negative experience, it’s worthwhile being a landlord. The amount of rent they paid me over the last few years has outweighed this last six months of horror with them. I’ve had other tenants that are a sure bliss to work with. I will continue to be a landlord and wish not to deter others from venturing out as a landlord, but only to enlighten them with things that can happen.

To your landlording success!

Let’s face it, evictions are no fun. In fact, they can be downright stressful and frustrating. They also can cost a bunch of money on court and attorney fees (and this is after the tenant may already owe you back rent). So is there a way to effectively have your tenant leave the property soon, without filing an eviction.

Yes, as strange as it seems, you can simply ask them. Here are some tips to having that conversation and trying to get them leave:

1. This discussion must be done in person. Although it would be great to send this in a letter, send it via email or even tweet it, you should meet the tenant. Call ahead to insure they will be there and that you are not catching them at a bad time. Seeing them in person should allow you to read their reactions and quickly adjust your sales approach.
2. Start out by politely saying that this (them living in your property) is not working out. Do not accuse them, do not threaten them with eviction. See if you can get them to agree by saying things like: “it just seems like this is not the place for you” or “you seem to be struggling each month to make the rent”. Find common ground where they are agreeing with you.
3. Next, suggest that you would be willing to help them out by allowing them to break their lease and move out. Now you and I know that sounds a bit strange, but many tenants will feel like they can’t break the lease (despite not paying your rent). See if you can spin it that you are trying to help them out.
4. If you can succeed at that, get them to move out by the end of the month or at the latest 2 weeks. Do not give them 60-90 days. You are not getting rent during that time most likely so you want them gone fast, but you don’t want them to feel like they are getting pushed.
5. Tell them that you are going to simply send them a letter int he next day or so confirming what you decided. Again, spin it so it sounds like it is for their protection and confirmation.
6. Make sure they understand that you are keeping the damage deposit if they don’t move out on time or the property is not in acceptable condition. If they don’t move, then you may be forced to file an eviction.

Moving a tenant out instead of evicting them can be a nice compromise to fix a tenant problem.

You can find your eviction information on the internet, but using an attorney is much better. Scott Ficek is not an eviction attorney, but he does lots of evictions for clients. Eviction law is different in every state. Check with a competent attorney.

Great Tenants are not hard to find if you know what to do. The biggest mistake we as landlords make when looking to fill a vacancy is allowing our gut feelings make the decision for us.

The process begins the minute we advertise. Once that phone starts ringing you should have a list next to your phone with your qualifications and questions that you’re going to ask your prospect to verify if they even meet your criteria. This will save you a lot of time and headache. Why would you set up an appointment only to find out latter that your prospect does not afford the rent or they have pets and you do not allow pets.

The second step is to show your property. Set a day and time and have all your prospects show up at once, this will create more urgency for those that are interested in the property by them knowing that if they want the property and don’t act quick they will lose out to one of the other applicants. The best day and time I found to work best is Sundays at about 1:00PM.

Once you’ve made your pick you are going to collect all of their information, making sure that every single document is the original and not a copy. Why not accept copies? you might ask, well, let me explain. With the internet and all the technology we have at our fingertips today, anyone can come up with a false document in seconds, I have seen this happen too often. Great Tenants will have no problem providing you with all the information you need.

Ok, now you have all of their information. You are now going to verify, verify and verify some more. Run a criminal, credit and eviction report. If you try to save a buck here it can cost you thousands of dollars down the road. This is where a lot of Landlords drop the ball.

Every minute of your time spent verifying the information given to you will pay for itself ten fold and you will be glad you did too.

These are just a few tips on finding great tenants. Follow this advise, and your business will prosper tremendously.

Author: Orlando Lebron

Helping Landlords and Landladies become more successful in their business through education. Get more tips on Great Tenants and how to find them at: http://www.landlordcontent.com