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The ULTIMATE Beginners Guide To Being a Landlord

The ULTIMATE Beginners Guide To Being a Landlord 101 Is this your first time buying rental property investing in real estate? As a new landlord, in order to be a great investor you must know the right tips and strategy on successful landlording as you invest in new rentals. You must learn how to find the right properties and which location to buy rental properties in. Use this free guide for investing when beginning as a landlord. Real estate is a booming industry, and someday you may be interested in owning rental properties of your own.The fact is, there are so many new landlords that have no idea what to do on the first day they take over a new property. In this video, not only will you receive a complete beginners guide on becoming a successful landlord, but if you watch until the end I wanna give you a few hacks most landlords don’t know about handling unexpected expenses. With the right tools and tricks up your sleeve, being a landlord can be a breeze and you'll have tenants lining up to rent from you in no time. Here are 9 rules you can apply in your journey as a new landlord. #9. Know the Laws Knowing the laws is crucial when it comes to renting a property. Ignorance of the law is not an excuse, especially when it comes to your hard-earned money. It's like playing Monopoly without reading the rules - you may think you're winning, but you're actually losing all your properties to the bank. Do yourself a favor and familiarize with local and state rental laws, such as fair housing laws and security deposit limits. These laws were created to protect renters from unscrupulous landlords who want to take advantage of their tenants. Trust me, you don't want to end up in a situation where you're paying more than the legal limit for a security deposit or living in a discriminatory environment.Three hacks to know: research, stay informed, and keep your properties and wallet safe. #8. Screen Tenants Thoroughly When it comes to screening tenants, you should start by checking their credit history to see if they have a history of paying bills on time. Next, check their employment history to make sure they have a steady income to pay rent. And last but certainly not least, run a criminal background check. This will give you peace of mind knowing that your property and your other tenants are safe. Just remember, if you find any red flags, trust your instincts and don't rent to them. It's better to be safe than sorry. #7. Set clear expectations Here's a secret: Setting clear expectations is key to a smooth tenancy. A comprehensive lease agreement can be the solution to all your worries, as it outlines all the terms and conditions of the tenancy in a clear and concise manner. Think of it as a love letter, but instead of expressing your feelings for someone, you express the rules for living on your property. But don't let the serious tone fool you, you can still add a touch of humor to lighten the mood. A well-drafted lease agreement can avoid any misunderstandings or conflicts between the landlord and tenant. So, take the time to sit down and create a lease agreement that covers all the important details and set clear expectations for both parties. The ULTIMATE Beginners Guide To Being a Landlord 101 SUBSCRIBE TO LIFE OF A LANDLORD FOR OUR LATEST CONTENT ➭    / lifeofalandlord   🎥 MUST WATCH VIDEOS 🎥 REAL ESTATE FOR BEGINNERS ➭    • REAL ESTATE FOR BEGINNERS   MAKE MONEY ON AIRBNB 2023 ➭    • AIRBNB INVESTING   DIGITAL REAL ESTATE INVESTING ➭    • DIGITAL REAL ESTATE   LANDLORDING & RENTAL PROPERTIES ➭    • LANDLORDING & RENTAL PROPERTIES   RENTAL PROPERTY FINANCING ➭    • RENTAL PROPERTY FINANCING   Check out Bigger Pockets for more great real estate content! LIFE OF A LANDLORD YouTube channel was created to help inform investors across the world of the many benefits that come with real estate investing. We hope to provide value and education to those who have an interest in buying rental properties, produce wealth-building assets, and start a business centered around the various aspects of becoming a landlord. We also hope to provide knowledge for those into single family, multi-family, commercial properties, fix and flip homes, and those investing in land as well. Thanks for supporting the channel. OUR MISSION: Help entrepreneurs and aspiring real estate investors reach financial freedom by buying real estate, rental properties, commercial land, and investing their money in wealth building assets. Whether you are into rental homes, fix and flip, land, multi-family properties, or just want to learn how to become a better landlord. This channel is for you. #landlordbeginnersguide #HowToBeALandlord #FirstRentalProperty