Whether you recently bought (perhaps inherited) a new rental property or you're in between tenants, have you checked your floors before finishing the Make-Ready process for your new tenants? Do the floors need an update? An empty home is a perfect time to replace flooring that is beyond saving with a thorough carpet cleaning.
If you’re new to investing in real estate, or you find yourself making the transition from homeowner to landlord with your Michigan property, you might be in unfamiliar territory.
Being a good landlord is more than buying an investment property, hoping some good tenants find their way to it, and collecting rent! Landlords deal with everything. From emergency repairs to screening tenants, being a landlord is a full time job. Not many first time landlords realize just how much time and effort goes into making a profit from a rental property.
Be sure you know what you're getting yourself into! Here are some of our best tips to help you make a smooth transition to the landlord life with less stress and more financial freedom.
What's the thing you fear most about being a landlord? If you answered "dealing with bad tenants," you're not alone.
There are many enjoyable aspects of being a landlord. The income is certainly nice! However, when it comes to dealing with bad tenants, some landlords can lose sleep over potential nightmare situations. How you handle a horrible tenant situation can affect your bottom line: it also affects how much you love (or hate) being a landlord.
Don't let the fear of dealing with bad tenants keep you from owning rental property in the Detroit Metro area! Take a look at these tips for dealing with troublesome tenants.