The dream of making money off a rental property isn’t as far-fetched as it may seem. Many people work hard to establish their credit and achieve the goal of their first, second, or sometimes third rental properties. With hard work, anything is possible. However, that hard work doesn’t end at just buying the right properties. Filling the vacancies, maintaining properties, and following rules, regulations, and guidelines are all extremely important aspects of the rental process that can leave even the best investors scratching their heads. We have some quick tips to help you along your way to having a successful rental property experience.

General Upkeep and Maintenance
Aside from ensuring that your property always has quality renters, the biggest issue with owning a rental property is that the owner is still responsible for general upkeep and maintenance. Now, some of us can be handy with home improvement tools and YouTube videos, which is great. There is a lot of valuable knowledge to learn from YouTube, and many fixes in a home can be relatively easy at times. However, this is not always the case. Sometimes, making changes or fixing things yourself can void warranties or violate code or other regulations. Be sure you are always watching more than one professional video, and ensure the information you are learning seems to be the same across multiple channels.

Why NOT Choose the Quick Fix
As mentioned above, sometimes repairs in your rental house can be simple and easy to do. However, sometimes the fixes are not exactly simple, require multiple difficult steps, or even need a tool you do not have. We often want to solve the issue and get out of the house so the renters can return to enjoying the property without you. As this will work for a quick fix, in the long run, this will lead to more costs on your property when you have to keep fixing the same issue, or worse yet, hire an outside professional because all of your attempts failed. How will it look to your renter that they have to continually deal with the same issue until you decide to hire a professional?

How Renters Make a Difference
Not only does filling your vacancy matter, but the quality of the tenant also matters. What steps are you taking to ensure you know this person’s credit history, background, and more? Sometimes, these things make all the difference, so look into how to do them. If it becomes too much, we are here to help. Contact us now!

Mishaps to Avoid When Renting
We’ve discussed quick fixes versus real fixes and what it takes to find a quality renter for your vacant rental house. However, as the saying goes, this is just the tip of the iceberg. Learning as much as possible is the best way to avoid money-losing mishaps. Learn about Fair Housing, Section 8, and what NOT to do to your tenants. This isn’t always easy and can be extremely time-consuming, but it is very important when it comes to your investment and making money.

We Are Here To Help
DIY landlords are often guilty of redlining, blockbusting, steering, and breaking Fair Housing rules. A licensed professional ensures the best possible rental home is purchased, all necessary repairs are done correctly, and the best possible tenants are placed to protect the house’s value and provide monthly cash flow. Contact us today to learn more about Buckeye Northwest Realty’s property management services in Toledo, Ohio.