Here's something no one has ever done until he or she became a landlord:   Determining the proper amount to charge in rent for a property.  You certainly know what your monthly cost is and you've probably had an appraisal done recently.  Unfortunately, these valuable steps are just the beginning.  There are many factors to determine when establishing the rental rate for a property.  If you are going alone (without the assistance of a property management firm), the whole process can be pretty bewildering.

Owning and maintaining a rental property as an investment can be both lucrative and rewarding.  However, it can be a difficult transition for many people to make, particularly during their first time as a landlord.  Most of us have only known the business from the tenant side, a much different position than that of owner and manager.  You will need to determine your own landlord-ing rules, methods, and identity to suit your goals and your personality.  

You will also need to work to develop some practical knowledge.  Unfortunately, no one gives you a guide to owning a rental property when you sign the mortgage.  Frankly, even if they did, such a guide would likely be of little use.  Many of the decisions you will make as you get your stripes as a landlord come down to your personal choice.  Keep in mind that forearmed is forewarned.  You will continue to learn how to be a landlord while you are busy being a landlord.  Your goal in the beginning months and years should be to avoid learning by mistake wherever possible.

Perhaps you haven’t had a disabled individual apply for tenancy in one of your properties. Are you aware of their rights and your responsibilities in these situations? The laws protecting individuals with disabilities are numerous and complicated. Please read on for some basic pointers but remember, it is always best to consult a lawyer or hire an experienced property manager.