Accidental Rental | A Blog For New Real Estate Investors
AccidentalRental.com is a resource for investors just starting out in the real estate business – especially new landlords. A place where you can learn from others facing the same challenges you will eventually face as a real estate investor. From how to manage a rental property, how to track your cash flow, etc. My goal is to enrich others who are just starting out on their real estate business.
Do you wish you had cash to buy more rental properties? Are you facing a significant expense and you don’t have the funds? Maybe you are ready to retire and want to cash out your investments but still hang on to your rentals for future generations?
A cash out refi might be the answer for you. It was for me.
I have wanted to refinance the Adjustable Rate Mortgage on one of my rentals but never really felt the pressure in this low interest rate environment.
You know that tenant screening and running tenant background checks are two of your most important jobs as a landlord. It often makes the difference between success and failure in the rental property business. But do you know what features to look for in tenant background checks?
I thought tenant background checks were pretty much all the same
until I did some investigating.
It’s important to know how tenant background check services work and
Are you thinking about installing a Nest thermostat in your rental or home?
I’ve recently been on a Smart Home upgrade streak. I just installed a Ring Floodlight Cam and Ring Doorbell but I hesitated to buy a Nest thermostat. They are not cheap and I wasn’t sure it was compatible with my home or rentals.
However, I wanted to give it a try to see if
it could lower my utility bills with the intention of rolling it out across my
Finding the right tenants can make or break your rental business. But how do you know which prospective tenants are going to be high quality and which ones are just wasting your time?
An effective list of tenant
screening questions and knowing what to listen for is the key.
Having an effective tenant screening process is critical to being a successful landlord. Asking the right screener questions and knowing what to listen for is the first step. Following up on their answers to verify the facts is the second step.
I will focus on the tenant screener questions in this article.
Good landlords know that a legal and fair lease is one of the best ways to protect their investment. But having a lawyer draw up a rock solid lease and other landlord forms can run into the thousands. It can be tempting to grab a free form off the Internet or from your local office supply store.
Don’t do it! THIS IS DANGEROUS!
Instead, there are several online landlord forms services that offer nearly all, if not all, of the same protections as having a local lawyer create your forms for you but at a fraction of the cost.
As an Accidental Landlord you may have converted your home to a rental recently. It’s probably in pretty good shape right now. However, it only takes a few tenants before you may need to consider a major renovation like a kitchen remodel.
Remodeling your rental property is very different than remodeling your personal home. You need to treat your rental property like a business. That means budgeting your renovation for maximum ROI.
I recently underwent a kitchen remodel at one of my rental properties.