Having a good understanding of how to write an effective lease agreement is a very important part of property management. When you own a property that you plan to rent, it is vital to establish ground rules and have a practical document laying out the landlord-tenant relationship. Ignoring these items can cause disruption and confusion between you and your tenant.
Asheville, NC is a renters' city, with 49% of households in the area renting; there is no better time for real estate investors in the area. While you could certainly handle your properties yourself, you may have multiple rental homes across town. It is easy to become overwhelmed by attempting to manage everything.
In the US, more than 68% of households have at least one pet, and with 44 million renters, that means more than likely that you will be marketing to pet owners. If you own a rental property, it is important to understand the connection between a family and their pet. By allowing pets, you can increase your pool of potential renters.
Owning rental properties can be a very rewarding business venture. When operated correctly, rental properties can provide a landlord with a decent ROI which can be reinvested into new properties, snowballing the possibilities of building wealth in our current world.
Sometimes owning a rental property isn't always roses. When irreconcilable issues come up between you and your tenant, it is important to know the laws to ensure that you are not breaking them, especially when your tenant refuses to pay rent.