The majority of landlord guides cover the things you should do when you have tenants in your property. That makes sense considering that the way you treat the tenants you have dictates everything from your rental income now to your reputation in the future. Failure to pay due attention here could even leave you on the wrong side of the law and facing both lost rent and legal proceedings.
Modern landlords, like every rental property owner in the past, are constantly on the hunt for that excellent, long-term tenant who will pay the rent without causing any damage or fuss. The return on your investment in your property is never higher than when you can retain the same tenant year after year. So how do you find that ideal tenant and convince him or her to stick around?
Finding the perfect tenant can be a challenge for property managers and landlords and indeed, not all tenants are ideal, which can put discerning landlords at a risk of violation of the federal Fair Housing Act.
Life throws curveballs, both good and bad, and sometimes we need to move on relatively short notice when we're just not willing to sell our home. Have you been transferred to a different city? Are you temporarily moving to help a relative? Maybe you've decided to spend more time at your vacation home. Whatever the reason, there's no point letting your house sit vacant when you can turn it into a source of income.