"Experience Is The Name We Give Our Mistakes" Part II Landlording
By Dulcey Schuster, Property Management Software
(Rentec Direct Property Management Software Tenant Screening)
The quote in the title of my blog is by Oscar Wilde and it reiterates the sentiment of my blog from yesterday "In Life There Are no Mistakes Only Lessons" Part I Buying Property. Today I want to share with you some lessons I've learned as a landlord. Lesson #1 Screen your prospective tenants diligently I cannot emphasize this one enough, it is so important to complete tenant screening. Screening your prospective tenants will give accurate information that you need to know about; there income, how they manage there finances, and criminal history. It is important to establish a set criteria for each of your rental properties and stick to it. At one point, I was put in charge of renting out my father's house (4 hours away) and my cousin, who lives next door to my father's house, had a "g...
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