Property Management Kit For Dummies

by Griswold, Robert S.

• ISBN13: 9781118443774
• ISBN10: 1118443772
• Edition: 3rd
• Format: Paperback
• Copyright: 2013-02-18
• Publisher: For Dummies

Summary

Discover how to be a landlord with ease Thinking about becoming a landlord? Property Management Kit For Dummies gives you proven strategies for establishing and maintaining rental properties, whether a single family or multi-resident unit. You'll find out how to prepare and promote your properties, select tenants, handle repairs, avoid costly mistakes and legal missteps-and meet your long-term goals. Now you can find out if you really have what it takes to successfully manage a rental property, and you'll learn all about the various options for hiring someone else to manage your property for you. You'll find out the right way to prepare your properties for prospective tenants, set the rent and security deposit, clean up properties between tenants, and verify rental applications. In no time at all, you can become a top-notch property manager by working efficiently with employees and contractors to keep your properties safe and secure. Manage your time and money wisely Acquire a property and prepare it for tenants Make your property stand out and attract tenants Keep good tenants and get rid of bad ones Collect and increase rent Evaluate the different types of insurance and understand income and property taxes Complete with lists of ten reasons to become a rental property owner, ten ways to rent your vacancy, and the ten biggest mistakes a landlord can make, Property Management Kit For Dummies helps you achieve your dream of being a successful residential rental property owner. CD-ROM and other supplementary materials are not included as part of the e-book file, but are available for download after purchase.

Author Biography

Robert S. Griswold, MBA, is a successful real estate investor and property manager with a large portfolio of residential and commercial rental properties. He is the real estate expert for NBC San Diego, the lead columnist for the nationally syndicated columns "Rental Roundtable" and "Rental Forum," and co-author of Real Estate Investing For Dummies.

Table of Contents

Introduction  1

Part I: So You Want to Be a Landlord?  7

Chapter 1: Property Management 101 9

Chapter 2: Do You Have What It Takes to Manage Your Own Rental Property? 21

Chapter 3: Managing Your Property Yourself or Hiring a Pro 33

Chapter 4: Taking Over the Property 47

Part II: Renting Your Property  57

Chapter 5: Getting Your Rental Property Ready for Prospective Tenants 59

Chapter 6: The Big Three of Property Management: Rent, Security Deposits, and Rental Contracts 77

Chapter 7: FOR RENT: Generating Interest in Your Rental 95

Chapter 8: Handling Prospects When They Come A’Calling 125

Chapter 9: Strutting Your Stuff: Making Your Property Stick Out 147

Chapter 10: Eenie, Meenie, Miney, Mo: Selecting Your Tenants 167

Part III: The Brass Tacks of Managing Rentals  195

Chapter 11: Moving In the Tenants 197

Chapter 12: Collecting and Increasing Rent 219

Chapter 13: Keeping the Good Tenants (And Your Sanity) 235

Chapter 14: Dealing with Problem Tenants 245

Chapter 15: Moving Out the Tenants 261

Part IV: Techniques and Tools for Managing the Property  275

Chapter 16: Working with Employees and Contractors 277

Chapter 17: Maintaining the Property 291

Chapter 18: Keeping Safety and Security in Mind 307

Part V: Money, Money, Money!  327

Chapter 19: Two Necessities of Property Management: Insurance and Taxes 329

Chapter 20: Financial Management and Record-Keeping 341

Chapter 21: Finding New Ways to Increase Your Cash Flow 353

Part VI: The Part of Tens  373

Chapter 22: Ten Reasons to Become a Rental Property Owner 375

Chapter 23: Ten Ways to Rent Your Vacancy 379

Appendix: About the CD  385

Index  393