Читать книгу Property Management Kit For Dummies - Robert S. Griswold - Страница 11

IN THIS CHAPTER

Looking at the pros and cons of residential property management

Exploring the different types of residential real estate

Surveying the steps involved in renting your property

Walking through the day-to-day details of property management

The key to long-term success and wealth-building through real estate ownership lies in the foundation you acquire as a hands-on property manager. Some people start by managing rental properties owned by someone else and gain a great deal of experience that they can use for their portfolio. Other people learn from trial and error — but that can be expensive.

There are many positive reasons for becoming a rental property owner or manager and just as many ways of doing so. Perhaps you’ve saved up the down payment to purchase your first small rental unit and hope to see your investment grow over the years as a nice retirement nest egg or a supplement to your current income. Maybe you want to invest in a medium-size apartment building and build some equity as well as rental income to supplement or replace your current income. Perhaps you’ve inherited Aunt Gertrude’s run-down cottage and need to find a good tenant who’ll care for it and pay the rent on time. Maybe you recently closed on your new primary residence, only to find that selling your existing home isn’t as easy as the real estate agent promised. Or perhaps you’ve had to move across the country to find a suitable job but want to return to your home in the future to avoid getting priced out of that market years later when you return.

Whether you plan to become a full- or part-time property manager, you need to know what you’re doing — practically, legally, and financially. This chapter serves as a jumping-off point into the rental property world. Here, you can find useful info, tips, and checklists suitable for novice or seasoned rental property managers. So get ready for some pragmatic and realistic sage advice from the tenant trenches to help you handle situations when they arise!