Landlord 101, Business Basics |
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Are you motivated to become a landlord and provide safe housing and make a little extra money too? It’s a noble pursuit, but not for the faint at heart.
Becoming a landlord can be both rewarding and lucrative, but only if you’re willing to take the role seriously and run it like the business that it is. First and foremost, you should learn about the legislation before you buy your first property. Once you have a property to rent, it’s important to understand the basics before you start your first renovation or advertise your rental unit. In this video we’ll look at: 00.00 Providing Quality Rental Units 01:25 Getting A Rental Unit Ready 04:23 Understanding Your Local Laws 05:06 Pricing A Rental Unit 5:12 Profit Is Not A 4-Letter Word 10:57 Advertising A Rental Unit16:28 13:49 Showing A Rental Unit 16:32 Creating, Taking and Checking A Rental Application 22:00 Last Month’s Rent Deposit 22:58 Pet and Damage Deposits 25:30 Accepting An Applicant & Discrimination 27:29 Leases & Documentation 29:16 Giving Keys/Possession Of The Rental Unit 30:20 Collecting Rent 32:45 Maintenance Requests 36:16 Annual Maintenence Inspections 37:36 Entering A Rented Unit 38:54 Can I Sue A Previous Tenant In The Landlord Tenant Board? 39:59 Be Your Own Property Manager To Make More Money 40:00 Top 4 Things To Know Before Buying Your First Rental Property Let’s get started! |