Managing your own rental property can be a rich and rewarding experience. It can also be a stressful and intimidating venture! Knowing where to get started can help you manage your rental property like a pro.
Residential rental property can range from a single family residence on a nice quiet cul-de-sac to a multi-unit complex with on-site management and maintenance in a downtown urban setting. Regardless of the type of property you own, your most important variable (after location) is the condition and quality of your rental property.
Yes, curb appeal does matter, even if the property is occupied by a renter. It matters to both the prospective tenant and the local community in the immediate area. A real estate investor who understands this will be willing to invest the money needed to maximize the potential rent and attract the best possible long term tenant. A good tenant is defined as one who takes care of the property and pays the rent in full, on time, every month.