CHAPTER 30 Top Landlord Responsibilities esponsibilities
If you do go the route of renting out some space, it will be some effort. For certain aspects of the job you need to know what you’re getting into. You can also always look into a property management company though that will cost you a decent amount of your rental profit. You want your investment to make you money, and though being a landlord for a short amount time may fall into that, it opens up a bunch of responsibilities. The most important ones are because of local and state-wide laws, liability protection, and staying in good communication with a tenant. Here are the top landlord responsibilities.
MINIMIZING LIABILITIES AND RIS ILITIES AND RISKS
Your main goal is to protect your investment so it can grow in value. Break-ins, bad equipment, water damage, and other weather problems can set that back. When you have a tenant, it’s even more important. Most likely they’ll be in charge of their own equipment, but not in those scenarios. Since you are now responsible for them as well you need to put even more emphasis on locks on doors and windows, security systems and camera, the roof and its condition, AC units, and smoke and fire alarms.
ANY MAINTENANCE OR REPAIRS A TENANT NEEDS
181
Powered by FlippingBook