BBC – Capital – A landlord’s dos and don’ts
There is much more to this than there is! From the days when my parents were rental agents. That handled just about anything that needed fixing, repairing to rentals. I watched them as they did voluntary in turn for a four room apartment for in those days a $65.00 (USD) a month. I saw what the income property owner had to go through. Let’s start out with an empty apt. Put a classified ad in the local paper, wait for someone to bite, show the place to the prospective tenant, hope they want it, then if they want it (This place was on a month to month rental), the tenant would pay both the first and last months rent (The last months rent was another name for security deposit), And the day they moved in was when the rent was expected to be paid. The owner was lucky! Most of her tenants did pay on time. Its that “Downtime Among rental that is the worse. Unless! You are into industrial, office leases.
The “”REAL” Damage was when they left! One tenant! Used the biggest nails he could find. To hang his Bud wall mounts on. That one stands out the most. There were others who want to re-rent again! Who knows! There are people who do think that rentals are the way! “NOT!”
What a lots of renters do not know is! Credit reporting agencies look at on time rentals as a loan! And it does effect your credit rating.