Investing in Rental Property

2. Location – location is a massive priority for tenants has when looking at rental properties. Maybe you have found a property that has been renovated but is located in a not-so-desirable part of town and think that the renovations will make up for the location. We would advise you to consider other options before investing. Location is huge for tenants and most of the time, even if the house is nice, if the location is not desirable, tenants will look for other options. It is better to invest in a property that is in a desirable location, even if it is a little bit more of an investment financially.

3. Check State and Local Laws – make sure that you have a complete understanding of all of your state and local laws and that you are willing and can abide by those laws. If you become a landlord and then do not follow the requirements laid out in your location, you could end up with hefty fines or in worst case scenarios; you could end up in court. It is also important that you check whether or not you will have to pay fees or taxes because that will impact you financially and you will need to prepare for that.

After reading all of these things, becoming a landlord may seem like a huge responsibility, and it is. Becoming a landlord is essentially a business venture, not a hobby. It is an investment that involves risk, and it will take a lot of your time, energy, and money. However, there is a way for you to be a landlord while not having to handle these stressful tasks. You can simply hire a property manager. A property manager will manage all of these tasks for you. They will handle everything you would handle as a landlord, minus the finances needed on your end for repairs and maintenance. They will handle communication with your tenants and will set up and schedule companies to come out and make repairs while you will just extend the finances for it. If you are interested in becoming an Investor and not interested in the part-time job, hiring a property manager would be the best route for you to take, or if you already are a landlord and would like to hire a property manager to take these stressful tasks out of your hands, give us a call at Authority Property Management! We do property management in Redding and Shasta County and would love to manage these responsibilities for you! Call us at (530) 410-6085.