Preparing Yourself for a Bad Day
59615
Finance > Insurance
Jan 24, 2008
datraveler
Preparing Yourself for a Bad Day
Want to be a landlord? Make your venture a little less painful by finding property that will be easy to rent. A renter-friendly house can spare a real estate investor a lot of grief and wasted time. This article briefly runs down how to purchase a house that will be home to happy tenants. To begin, find a house that is situated conveniently to local amenities. A home that is within a reasonable distance from the mall and area restaurants is an ideal real estate investment. Review local rental magazines to find out what the big buzz is in the market. If advertisers are repeatedly commenting on how their rentals are close to local golf courses and fitness centers, you may want to look for a home in similar locations. Do some homework by reading the classifieds to find out what types of rental properties are popular in your area. Also review what the going rent rate is for all seasons of the year. You may also want to speak with a rental agent who handles a significant number of rental properties. This person can act as a consultant and give you information regarding what types of dwellings are popular rentals for both residential and vacation purposes. If you want your rental property to be versatile, consider homes that are appropriate for all ages. Senior citizens often require a one-level living home so they don't have to maneuver stairs and risk a fall. The same goes for the entrance of the home. If there are stairs to climb to access the front door, this home might not be ideal for the elderly. This theory works with adults who have young children and don't want to risk deadly falls down stairs. Sometimes, in the eye of the renter, it can be easier to avoid a rental with stairs altogether and simply find a home that doesn't have any. When shopping for a real estate investment, find one that is well maintained. Eye appealing homes are more likely to rent for a better price and quickly. If you do buy a piece of property that needs some TLC, be sure to do it right away so you will get a better return on your investment when renting it. Find a home that doesn't have a history of sky-high utility bills. Always check your potential investment's utility costs. You don't want a home that is going to be expensive to heat or cool, this may shy away renters. Ask for a homeowner's insurance quote. Be sure to disclose you plan to rent the property and ask the agent if he or she has any recommendations for landlords. Verify with your accountant that your expectations of the rental property are valid. You want to make sure you have a realistic expectation of income from the property. Ask if your projected rent will cover projected maintenance fees plus the home's purchase price. Before purchasing a home situated in a Home Owners Association, make sure they allow renters to reside in the neighborhood. Also request a copy of their rules and review them. If their rules are overbearing, your investment may be hard to rent.
Mark Robinson writes for Auto-Loans.GuideFin.com. Visit his website for information about used car loans.
send email to datraveler
Write a Review
Add to My Favorite
Refer it to Friend
Report Article
Other links at Finance > Insurance
How can you effectively utilize your individual health insurance plan? It starts by becoming an active participant in your own health and healthcare.
Category:
If you think that all auto covers are created equal, you are wrong. Find out about the different types.
Category:
There are so many things that you have to consider when you own a home business. Insurance might be something that you do not even want to think about.
Category:
Fifty years ago when families traveled on vacation or to see relatives, they never worried about what would happen.
Category:
Amnd ws 42 when she ws given the difficult news tht she hd ovrin cncer. The West Yorkshire womn received chemotherpy tretment fter dignosis, but Amnd becme one of the unlucky ones. She hd bd rection to the chemotherpy
Category:
Site Sponsor
Directory Statistics
Articles: 68285
Categories: 501
Yahoo Entertainment
