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References
NAR Library & Archives has already done the research for you. References (formerly Field Guides) offer links to articles, eBooks, websites, statistics, and more to provide a comprehensive overview of perspectives. EBSCO articles (E) are available only to NAR members and require the member's nar.realtor login.
Tips for Landlords
Tip #1: Get prepared before tenants move in
Tip #2: Screen all potential tenants
Tip #3: Get it in writing
Tip #4: Handle security deposits carefully
Tip #5: Continue to provide a safe and habitable rental
Tip #6: Provide secure premises
Tip #7: Don't enter a rental unit without giving proper notice
Tip #8: Disclose environmental hazards
Tip #9: Oversee property managers
Tip #10: Try to work with tenants
Source: Top Ten Tips for Landlords (NOLO, Mar. 21, 2024)
How to Prepare Your Rental Property for Tenants (Bigger Pockets, May 28, 2024)
- Once you’ve completed preparing the home’s interior for rental, you can move to the property’s exterior.
- Here are some important tasks:
- Clean up and remove any junk or garbage that previous tenants may have left.
- Check the siding to make sure it’s clean and free of damage.
- Examine the windows, looking for water damage, leaks, and broken glass.
- If there’s a chimney, have it cleaned, and make sure it’s structurally sound.
How To Keep Renters Happy (C&C Property Management, May 9, 2024)
Being proactive about lease renewals can prevent the uncertainty and vacancy periods that come with tenant turnover. Reach out to your tenants a few months before their lease ends to discuss renewal options.
Tips for First-Time Landlords: Avoiding Rookie Mistakes (Steadily, Feb. 21, 2024)
As a landlord, protecting your investment is of utmost importance. One critical aspect of property maintenance involves conducting regular inspections to ensure the asset retains its value over time. By implementing a routine inspection schedule and performing landlord check-ins, it is possible to prevent minor issues from escalating into costly repairs or infractions.
Landlord Resources: A Complete Guide to Renting Out Property (Law Depot,Dec. 22, 2023)
This comprehensive guide for both commercial and residential landlords covers a landlord’s responsibilities, managing property and whether to hire a property manager, and federal laws that apply to landlords. In addition, users may customize and print essential documents such as rental/lease agreements and rental applications.
Rental Property Tax Deductions (National Association of REALTORS®, December 22, 2022)
What rental property tax deductions can clients buying commercial or rental real estate take? Here's an overview of the main rental and investment property deductions.
Landlord-Tenant Laws by State: A Complete Landlord’s Guide (Fit Small Business, Oct. 5, 2023)
In addition to the key aspects, in the realm of landlord-tenant laws, states can be categorized as either landlord-friendly or tenant-friendly. Key factors such as the eviction process, regulations on rent increases, and rules for security deposits are used to determine which category a state falls in.
Investing in Rental Property
How to Invest in Rental Property (NJ.com, Jun. 30, 2024)
Yes, there is the potential to earn a decent amount of wealth in rental property, but it's not the right type of investment for everyone. Though it's typically considered a type of passive income, there is a fair amount of work you'll need to put in, especially if you want the potential for a higher reward.
How to Invest in Rental Property (Investopedia, Ju. 2, 2024)
In this detailed outline for new investors, learn how to secure a down payment, finance the investment, and obtain a mortgage on rental properties. You’ll also find information on calculating expenses, identifying good investment properties, and how to weigh the pros and cons of investing in rental real estate.
Securing Your Future: A Guide to Buying Rental Property (CNN, May 17, 2024)
You will have a financial stake in the property and legal risk, as you are responsible for both the physical property and the foreseeable experience and safety of the people living in it. You must comply with fair housing regulations and ensure that you respond promptly to health and safety issues. As well, you must monitor the contribution — or drag — of the property on your overall portfolio and financial stability.
Owning Rental Property for Beginners: Pros, Cons & Tips (Credit Karma, Feb. 22, 2024)
One of the biggest benefits of owning rental property is providing a potential stream of income each month.
But remember that you’ll first need to use the rent money to pay down the principal on your mortgage as well as any fees, taxes or maintenance costs.
Property Management
Choosing a Property Manager: Red Flags and Due Diligence (Landmark Property Management, Jul. 19, 2024)
Check Their Reviews: Be sure to look the property manager up on Google and not only look at their rating but take the time to read some of their reviews. Are most of the negative reviews from tenants or clients? Keep in mind that someone is much more likely to leave a negative review than a positive review especially in the service industry.
Managing Rental Properties In 2024: Tips and Best Practices (Forbes, May 21, 2024)
To truly excel in property management it is important to embrace the industry’s best practices, such as tenant vetting, process automation and cultivating landlord-tenant relationships. Luckily in today’s digital era, there are innovative software platforms that can streamline many of these responsibilities to help you thrive in today’s dynamic real estate market.
Top 7 Tips for Choosing a Property Management Company (Beach Front Property Management, Apr. 12, 2024)
It is essential to engage a property management company that can fully meet your property’s requirements. Ideally, you aim for a comprehensive agency capable of addressing all aspects necessary for your income property to operate seamlessly. Most property owners seek comprehensive property management services to reduce their responsibilities and safeguard their investments. Understanding the range of services offered by property management companies enables you to make the optimal choice for your needs.
A Guide: What Does A Property Manager Do? (Rocket Mortgage, Mar. 19, 2024)
This article explains a property manager’s responsibilities, details the fees involved in working with a property manager, and the weighs the pros and cons of hiring a property management company.
Renter Motivations Revealed (Journal of Property Management, July/August 2023)
“The data shows that maintenance is likely the greatest driver of overall satisfaction. The largest difference between satisfied and unsatisfied renters came from the level of satisfaction with maintenance. Unsatisfied renters are far more likely to be unsatisfied with every aspect of how their property manager handles maintenance. Unsatisfied renters cite longer wait times, poor communication, and limited visibility into how maintenance is progressing.”
The Role of Technology in Modern Property Management (Forbes, May 31, 2023)
“Integrating self-service leasing alongside the shift toward increased automation in maintenance and complex accounting tasks has yet to spell the end for leasing staff. On the contrary, it is quite the opposite. Instead, automation assists in minimizing the time and resources needed for manual tasks, and with the increased capacity of staff, the focus can now be on improving the well-being of residents.”
A Guide: What Does A Property Manager Do? (Rocket Mortgage, Feb. 13, 2023)
This article explains a property manager’s responsibilities, details the fees involved in working with a property manager, and the weighs the pros and cons of hiring a property management company.
Useful Websites
America’s Rental Housing (Joint Center for Housing Studies of Harvard University, 2024)
Climbing rents in recent years propelled US cost burdens to staggering new heights: in 2022, half of all US renters were cost burdened. This all-time high of 22.4 million renter households spent more than 30 percent of their income on rent and utilities. And while rental markets are finally cooling, evictions have risen, the country is seeing the highest homelessness counts on record, and the need for rental assistance is greater than ever.
Institute of Real Estate Management (IREM)
“The Institute of Real Estate Management (IREM) is an association of property and asset managers who have met strict criteria in the areas of education, experience and ethics. Founded in 1933, IREM’s mission is to educate real estate managers, certify their competence and professionalism, serve as an advocate on issues affecting the real estate management industry, and enhance its members’ professional competence so they can better identify and meet the needs of those who use their services.”
National Apartment Association
“NAA is the leading voice for the rental housing industry and as a trusted partner, valued connector and a powerful advocate, we are committed to serving 141 state, local and global affiliates, over 92,000 members and more than 11 million apartment homes globally.”
National Association of Residential Property Managers®
“The National Association of Residential Property Managers (NARPM®), founded in October 1988, provides a permanent trade organization for the residential property management industry. NARPM® continues to be the premier professional association of residential property managers, currently representing more than 6,000 members comprised of real estate agents, brokers, managers, and their employees.”
National Multi Housing Council
“NMHC is the place where the leaders of the apartment industry come together to guide their future success. With the industry’s most prominent and creative leaders at the helm, NMHC provides a forum for insight, advocacy and action that enable both members and the communities they build to thrive.”
Books, eBooks & Other Resources
eBooks.realtor.org
The following eBooks and digital audiobooks are available to NAR members:
The Complete Guide to Buying and Selling Apartment Buildings (eBook)
Complete Landlord and Property Managers Legal Survival Kit (Audiobook, eBook)
Landlording on AutoPilot (Audiobook)
Multi-Family Millions: How Anyone Can Reposition Apartments for Big Profits (eBook)
Opportunities in Property Management Careers (eBook)
Principles of Real Estate Management (eBook)
Property Management Kit for Dummies® (eBook)
Streetwise Landlording & Property Management (Audiobook, eBook)
What Every Landlord Needs to Know: Time and Money-Saving Solutions to Your Most Annoying Problems (eBook)
Books, Videos, Research Reports & More
As a member benefit, the following resources and more are available for loan through the NAR Library. Items will be mailed directly to you or made available for pickup at the REALTOR® Building in Chicago.
The CompleteLandlord.com Ultimate Real Estate Investing Handbook (Hoboken, NJ: Wiley, 2009) HD 1382.5 L49
Buy It, Rent It, Profit! : Make Money as a Landlord in Any Real Estate Market (New York, NY: Simon & Schuster, 2009) HD 1394 C39
7 Secrets to Successful Apartment Leasing: Find Quality Renters, Fill Vacancies, and Maximize Your Rental Income (Chicago, IL: McGraw-Hill, 2006) HD 1384 C91
Every Landlord's Legal Guide (Berkeley, CA: Nolo, 2006) HD 1394 St4e
Have an idea for a real estate topic? Send us your suggestions.
The inclusion of links on this page does not imply endorsement by the National Association of REALTORS®. NAR makes no representations about whether the content of any external sites which may be linked in this page complies with state or federal laws or regulations or with applicable NAR policies. These links are provided for your convenience only and you rely on them at your own risk.