Before you put that FOR RENT sign in the yard, read this
Hello there, future landlord. You’ve found what you’re looking for—a complete package of information and resources to teach you what you need to know and make your life (and your tenants’ lives) easier. With Property Management Kit For Dummies, you can learn how to manage single-family homes, large apartment buildings, treehouses, dollhouses… okay, there’s not much info here on managing dollhouses, but everything else is definitely covered. Find good tenants, move them in, and keep them happy and paying rent on time. When it comes time for a change, learn how to move tenants out and turn over the property, easy as pie.
This book makes it simple to understand tax and insurance requirements, building maintenance concerns, and financial record keeping. Plus, the updated edition reflects the current rental property boom, new technologies, changes to the law, and the inside scoop on the latest Fair Housing issues to keep you out of court. Emotional support animals? Rent control? Bed bugs? Eviction? It’s all in here.
- Find out whether property management is right for you, learn what you need to get started, and be successful as your residential rental property portfolio grows
- Get your ducks in a row—develop solid marketing and advertising strategies and resources, build up-to-date rental contracts, figure out the legal side of things, and minimize your income and property tax bills
- Make sure you’re renting to responsible people, and deal with the occasional problem tenant without major drama
- Maximize your cash flow by keeping your rents at market prices, efficiently handling maintenance, and ensuring your property has great curb appeal with the features and benefits sought by today’s tenants
Become a top-notch property manager with this one-and-done reference, plus online bonus materials.
Table of Contents:
Introduction 1
Part 1: So You Want to Be a Landlord? 5
Chapter 1: Residential Property Management 101 7
Chapter 2: Do You Have What It Takes to Manage Your Own Rental Property? 19
Chapter 3: Managing Your Residential Property Yourself or Hiring a Pro 35
Chapter 4: Taking Over the Property 53
Part 2: Renting Your Property 65
Chapter 5: Getting Your Residential Rental Property Ready for Prospective Tenants 67
Chapter 6: The Big Three of Property Management: Rent, Security Deposits, and Rental Contracts 85
Chapter 7: Formulating a Marketing Plan 107
Chapter 8: FOR RENT: Effectively Using Advertising to Generate Interest 117
Chapter 9: Handling Prospects When They Come A-Calling 141
Chapter 10: Strutting Your Stuff: Making Your Property Memorable 167
Chapter 11: Eenie, Meenie, Miney, Mo: Selecting Your Tenants 189
Part 3: The Brass Tacks of Managing Rentals 219
Chapter 12: Moving In the Tenants 221
Chapter 13: Collecting and Increasing Rent 243
Chapter 14: Keeping the Good Tenants (And Your Sanity) 261
Chapter 15: Dealing with Problem Tenants 273
Chapter 16: Moving Out the Tenants 291
Part 4: Techniques and Tools for Managing Your Residential Property 307
Chapter 17: Working with Employees and Contractors 309
Chapter 18: Maintaining the Property 325
Chapter 19: Keeping Safety and Crime Prevention in Mind 341
Part 5: Money, Money, Money! 365
Chapter 20: Two Necessities of Property Management: Insurance and Taxes 367
Chapter 21: Financial Management and Record-Keeping 389
Chapter 22: Finding New Ways to Increase Your Cash Flow 403
Part 6: The Part of Tens 425
Chapter 23: Ten Reasons to Become a Residential Rental Property Owner 427
Chapter 24: Ten Ways to Rent Your Vacant Rental Unit 433
Appendix: About the Online Kit Materials 439
Index 443
