A Guide for New Landlords
Either you are thinking about renting out your vacant house or buying a TTDI property for investment, you are about to embark the journey to becoming a landlord. Investing in a rental property is one of the smartest ways to generate stable, long-term income. However, to bear the responsibility of a landlord could be challenging for most!
In today’s article, Yin Homes would like to share some tips for the new landlords starting out in TTDI!
Tip #1: Treat renting as a business
From preparing your property to a ready-to-rent condition, to tenant search, a strong mindset needed to be set ahead.
Hiring a property manager who knows the township and your property well can be a worthwhile investment. You are looking at an option to save time and energy on renting procedures, such as marketing your property.
A good property manager can also help manage multiple rental properties if you find yourself overwhelmed with landlord responsibilities.
Tip #2: Find good tenants
Besides setting the rental price right, the search for RIGHT TENANT demands great effort. You would need to screen through potential tenants to find quality ones, to ensure you get payment on time and your property is under good care. Likewise, property manager could help to filter out tenants on your behalf to save you time and energy.
Yin Homes uses the approach to first understand your property, then we will match it with the right audience on digital ads.
View our current listing for TTDI condo for rent here!
Tip #3: Know your rights
Having a written tenancy/rental agreement is the best way to communicate your expectations and protect yourself in legal situations. Nevertheless, understanding your rights and obligations as a landlord is essential.
The obligations of a landlord usually include property taxes, insurances, basic necessities and appliances that come with the house. The rest is up to what stated in the tenancy agreement – therefore, do take the extra step to consult an expert when drafting your very own tenancy agreement!
Tip #4: Tired of reading? Watch this video instead!
3 Winning Strategies Landlords Use Before Renting out their House
Conclusion
Have a TTDI property to rent out? Or thinking of purchasing a TTDI house for renting purposes? Yin Homes is ready to assist you!
At Yin Homes, we are serious about renting and selling your property. So we invest the right dollar in the right places to bring you a tenant or buyer who would appreciate the value of your property – and we are transparent about it with our consistent marketing reports so you are never in the dark.
Learn more about our 360° marketing here!
