Landlord Success

Your "How To" for
Landlord Success

Rental properties are a solid investment plan for long-term, passive income. However, jumping into the world of being a landlord and rental properties is no small decision.

It's not for everyone. If you're considering becoming a landlord, make sure you're ready!

We've put together a few tips for success as a landlord. It starts with at least one property. You also need the desire to be a good landlord and take excellent care of your property and your tenants.

Great landlords see good success with a rental property portfolio. If you're trying to decide if your current home would make a good rental property, or if you've got your eye on an investment property, make sure you've got what it takes to be a landlord.

From finances to landlord-tenant laws to residual income, landlording is both challenging and rewarding.

Are you ready to learn a little more about what makes an excellent rental property and some good landlord basics? Check out these links.
Rental Ready

Get your Property
Rental Ready

Before you can open your doors to your new tenants, a few things must come first.

You need to know how much to charge for your monthly rental rate. This isn't an easy task.

You might have an amount in mind. However, the rental market might not support that amount. When you price your property too high, you'll struggle to find good tenants. If you price it too low, you won't make enough money to support your rental property profit.

Good rental market research combined with your mortgage amount, property maintenance, and taxes, work together to determine the ideal rental rate for your property.

Once you determine the best monthly rent, you're ready to list your property. It doesn't matter if you have the perfect property at the perfect price. If your online listing isn't professional, you won't attract the tenants you want.

Your online listing is your property's first impression. Make it a good one.

Get the Checklist

Rental Ready
Setting rental rates and marketing your property takes some skill. Use these resources to learn more about tackling these important landlord tasks.
Quality Tenants

Your Property Needs Quality Tenants

Tenant screening is another tricky part of being a landlord.

You want to protect your property investment and keep loyal tenants.

But . . . how do you find them?

Know your target renter. Who do you want living in your property? Is your home perfect for Millennials? If the property has plenty of smart features and keyless locks, Millennials love these amenities.

What about Baby Boomers? Is your home pet-friendly for empty nesters?

If your property appeals to more age groups and types of renters, you'll have a better pool of applicants to begin your screening process. As you start showing the property, you'll get to know your potential new renters.

Don't forget to put every applicant through a thorough background screening process. If you're unsure of what that means or you're uncomfortable dealing with that kind of information, let a property management company help you with lease-only services.

Get the Checklist

Finding the right tenants for your rental property isn't a simple process. Check out these resources to help your tenant screening process.
When Tenants Move In

Your Job Doesn't End
When Tenants Move In

Wouldn't it be wonderful if the last part of your landlord job was moving your tenant into your property? Close the door behind you on the way out, then let the money roll in while you sit back and relax.

Unfortunately, that's not how it works.

Being a landlord is a full-time, year-round commitment. Not only do you have to be available to care for tenant needs, but your properties also need year-round upkeep.

Seasonal maintenance, routine updates, and emergency repairs come with the job. When a tenant calls with a maintenance problem, it's your job to fix it right away.

You'll also want to keep a checklist of maintenance to prepare your properties from one season to the next.

When Tenants Move In
It’s critical to take care of your rental properties as well as you take care of your personal home. From Spring property maintenance to quick repairs, handyman work comes with the job.
Outweigh the Work

The Rewards
Outweigh the Work

If you feel more overwhelmed at this point than when you started, you're not alone—and it's okay!

The rewards of being a landlord far outweigh the work. However, it's essential to understand that being a landlord isn't a get-rich-quick investment plan.

To do it well and find success, being a landlord is an investment of both time and money.

The good news is that you don't have to do it alone. Property management companies help landlords get going in the rental property business. They keep things running so you can sit back and let the rent checks come in each month.

If you make the decision to partner with a property management company, be sure you choose the best one for your needs. The best partner saves you time and increases the bottom line on your investments.

Outweigh the Work
Choosing the right property management company helps you manage your day job while growing your rental property business. Check out these resources about how to find the right San Antonio property management company for your needs.