General Info Rental Properties

General Info Rental Properties

When I have rental properties, the four key factors I consider are strength of the local rental market, eviction time line and cost, the age of the property, and the type of neighborhood.
The lower the vacancy rate in the area, the fewer reserves you’ll need for vacancies. Your city’s housing department or local newspaper may have articles or statistics on vacancy rates. You should have enough cash reserves to pay for one month of vacancy per unit. Even in a good market, you’ll deal with problem tenants who may stop paying rent and require an eviction. Good tenant screening will help solve this problem. When renting properties, always do a rigorous background check. This includes reviewing credit reports, employment verification, references and calling current & previous landlord.
With newer and recently renovated properties, you won’t need to anticipate many repairs in the first few years. Remember, always hire a professional property inspector before you buy. Inspectors will go through the property to ensure you’ll have no surprises later. Also, keep in mind that many utility companies offer a fixed monthly payment option so you don’t experience payment swings each season if you’re paying for heating, water or other utilities as the landlord.
If you are renting property in a low-income neighborhood, you can expect the turnover to be much higher than in high-income areas. Multiunit buildings with small units and one bedroom apartments will attract more single people who tend to move more often than families.


If you would like the chance to work with me or one of my fellow real estate investor coaches and our advanced training programs, give us a call anytime to see if Dean's Real Estate Success Academy and our customized curriculum is a fit for you. Call us at 1-877-219-1474 ext. 125

General Info Rental Properties

Thank you for the info. Definately helps with management of my first rental.


Great data. Thanks. I am currently looking at a property for sale in a low rent area. It is not a great neighborhood and I'm only interested in it as a possible assignment or quick turnover.

Need some advice on selling rental property

My husband and I own a rental property in upstate NY. We got an offer from a man who wants to buy the property as is with us holding the mortgage, with a $5,000.00 down payment. He wants us to hold the mortgage for 10 years and after one year he wants the deed.

We need to know if this is a good idea and what about the deed after a year? This is like a land contract? Does anyone have any paperwork to do something like this? Also this is in a realtor's hands. She did not find the person but how do we go about paying her commission? Out of the downpayment?

any suggestions? WE know we are going to have to find a lawyer.

contract question

there contract was up oct. 1st 2009 and he would never meet to sign a new one.
how does the contract work now is it month to month?

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