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Step 1: Find New Tenants for Your Rental Property
After buying your rental property, the first crucial thing is to make sure it doesn’t remain vacant. If you want to make money by owning rental property, you will need tenants for rental income.

Step 2: Interview and Pick Reliable, Rent-Paying Tenants

Recent studies have shown that choosing the right tenant can help you avoid up to 80% of your future headaches. There are 2 major steps in this landlord guide when it comes to picking your dream tenant: Credit checks and tenant interviews

When it comes to owning rental property, credit checks mean getting your hands on the credit report of potential tenants. Tenant interviews are effective for choosing pleasant and cooperative people as your tenant.

Step 3: Sign Your Rental Agreement and Collect Rent from Your Tenants

Now that you have found your perfect tenant, it’s time to seal the deal with a written rental agreement.
Make sure you and your tenant agree on a date and method of collecting rent. Most landlords accept their rent by cash, checks or Paypal.

Step 4: Keep Your Rental Property in Shape with Repairs

Owning rental property also means having to maintain in habitable condition according to your local housing safety and health standards. When it comes to property repairs, it’s important to know whether the landlord or tenant is responsible for footing the repair bills.

Step 5: End Your Rental Agreement Smoothly and Legally

How you can end your rental agreement depends largely on whether you have a periodic tenancy or a fixed term tenancy. Sometimes owning rental property means have to deal with nightmare tenants who don’t pay you rent or breaks the terms of your rental agreement.

Apartment reviews are an interesting strategy. However one must consider the source of the reviews. There are the ones that seem to dominate every review I’ve ever seen on the apartment internet sites and presumably, they are current or past apartment tenants themselves. I Movie reviews are going to be subjective to the individuals opinion as well but at least you get an educated third party critique that has their integrity to uphold.

Some tenants can be great & some unruly. There are a couple of types that need to be addressed, (I) is the tenant that is just plain rowdy, they have parties that cause disturbances, are loud and obnoxious and are only concerned about themselves. The constant complainer, the tenant that is always calling the office. Both of these can leave nasty reviews if they dont get their way and of course if they are reprimanded for their unruly actions. Unfortunately, on the apartment review sites, there is no real rebuttal system in place like on EBAY, where the Apartment management can comment on a complaint.

Landlord contents insurance is a type of insurance coverage that compensates a landlord for property loss or damage. Contents insurance usually covers any fixtures, appliances, furnishings on the rental property that belong to you.
There are two types of contents insurance for landlords. Landlord contents coverage usually insures the landlord’s property in an amount ranging from $10,000 to $50,000.
As a landlord, you may be wondering whether landlord contents insurance is a worthwhile investment.
Choose Standard Landlord Contents Insurance if You Want Basic Protection
A standard policy typically protects you from damage caused to furnishings, appliances and fixtures during the normal course of a tenancy.
This coverage usually applies to normal wear and tear only.

Go for Accidental Landlord Contents Insurance if You Want More Protection

In contrast to standard insurance, accidental coverage will pay insurance proceeds for damages that may occur due to tenant negligence and other types of accidents or disasters. For instance, this type of coverage might apply if a tenant rips your sofa when moving out of the property or if a fire out break destroys your furnishings and fixtures.
Most insurance policies will provide coverage in the event of theft or vandalism, tenant negligence, fires, floods, storms, and explosions.
Landlord insurance will only cover furnishings that are provided by the landlord. If your tenant wants coverage for his or her own belongings, then they must buy a separate renter’s insurance policy.