Landlord Training
The new landlord should begin by visiting many buildings. You have to see many homes to determine what type of building is going to work for you. For example, really look at a 15 unit building? Imagine the size of the utilities, furnace, water bills, can you do this? Maybe a 4 family unit is a better place to start. If you see an architectural feature that really catches your eye take a photo of it with your cell phone so that you remember it.
Look at the many materials that everyone is using to build and construct with. Study the craftsmanship of an older building and then contrast it with a recently built structure. What stands out for each? Has the modern construction improved on the building theory of the older construction? In what ways?
Their are buildings everywhere. We see a good building and we want to build one that is better; taller, larger, better functioning or more stunningly beautiful. You have to dream to make it big in real estate. You should really get excited about building and improving living conditions and working conditions.
The people to whom you rent want to rely on a consistent landlord. They want a place to call home and one they can be proud of. Strive to provide people with places to live and work that they can not construct without you. A specialty item can and will rent at a premium. For example, do you really need a hot tub on the deck? Not really but a tenant will enjoy the hot tub and will pay a premium for the option.
Yes, the rent you charge should accurately represent the apartment and amenities you are offering. You are not just providing just a roof over someone's head. You are giving your tenants a place to laugh and make memories. A place for fun as well as a safe heaven. When you make a place special you can charge whatever rent you wish because no one is competing with you. Getting the best tenants is all about providing the best places to live or work.
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