In today’s market, it’s easy to be a landlord but hard to be a great one. If you’re just getting started in the business, you might have some preconceived notions about what it means to be a property manager. In order to turn your rental property into a money-making asset, you need to understand what being a great landlord involves. This includes the daily realities of the job and the complex situations you’ll be thrown into every day. The role can be highly rewarding, but it takes practice and plenty of patience. Below, you’ll find some ways to navigate your expectations and your new reality as a landlord.
Before you think about renting to students, it’s important to understand the pros and cons of doing so. Just like any other potential tenant, you want to determine if they are responsible and financially capable. Ultimately, renting to students can be a risky venture or a rewarding one. It all depends on the student, their level of commitment, and the landlord. This article explains the key aspects to consider, and provides useful advice to help you decide whether it’s the right choice for your business.