The Business Side of Rentals
You found the right property, prepared it, and found the right tenant. The contracts are signed, the tenant has moved in, and the rent is being paid on time, building your income stream. Now it’s time to learn about running the day-to-day details.
Have you heard the old saying about financial success, “It’s not about the money you earn, but it’s about the money you don’t spend”? This is especially true with rental properties, not only when it comes to managing your expenses, but also when managing potential liabilities that can cost you even more money.
A smart landlord understands that the rent you collect does not equal profit. A smart landlord also realizes that, to maximize the return on an investment, the money collected must be handled with care.
In Part 4, we help you ensure that the money keeps coming in and you’re handling it with care.