For a renter, a security deposit is one of the biggest hassles when they need a new place to live. A security deposit is an amount of money you are required to pay your landlord upfront to move into the home.

As a landlord, there are a lot of tidbits of knowledge and know how you need to have. For example, it is your responsibility to know how to maintain the unit you are renting. One big area of renting houses and apartments that a landlord needs to have knowledge and experience in is appliances. The more a landlord knows about appliances, the better a landlord the individual intends to be. After all, being able to repair a washer or install a new water heater is a great way to save money.

Renting to friends and family can either be a very positive or very negative experience. It is imperative that you continue to treat your rentals like a business and treat your tenants as tenants even if they are friends or family. In the following we will explore the Pros and Cons for whether renting to friends and family is right for you.