What are some "must-know's" for new landlords?

Asked by Trulia Boston, Boston, MA Mon Nov 26, 2012

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6
John Souerbry, Agent, Fairfield, CA
Mon Nov 26, 2012
Have a complete list of pre-screened vendors programmed into your phone:
- 24 hour electrician
- 24 hour plumber
- eviction attorney
- lawn care
- general repair
- appliance repair
- painter
- carpet/floor coverings
- pest control & removal
- temporary landlord to watch the place when you're on vacation
- tax preparer qualified to prepare returns with rental income
You may want to have at least 2 vendors for each category
1 vote
Heath Coker, Agent, Falmouth, MA
Thu Dec 12, 2013
Study the tenant law handbooks for MA.
Know what you are getting in to.

I would contact a local real estate management professional to help with this answer and to save time and money.


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0 votes
Akil Walker, Agent, Upper Marlboro, MD
Mon Nov 26, 2012
I would recommend a sound grasp of the eviction process. The dos and donts can save you a lot of heartache.
0 votes
Sarah Goulart…, Agent, Plymouth, MA
Mon Nov 26, 2012
The law in regards to tenant and landlord rights for one thing.
0 votes
Sherri Way, Agent, Framingham, MA
Mon Nov 26, 2012
There are lots of things you have to know. The first thing is that Massachusetts is very pro-tenant so pick your tenants carefully. The number one rule is that an empty apartment is better than an apartment with a bad tenant!

I would also recommend joining a landlord group. There is a group called the Massachusetts Rental Housing Association (MRHA - http://www.massrha.com). If you go to their web site, you will see several local groups that exist. It's a great way of networking and getting educated.

They also sell a book called the Successful Landlord. This is a good book to have to help you.

Good luck!
0 votes
Jaime Gerken, Agent, Saint Louis, MO
Mon Nov 26, 2012
Make sure you educate yourself and contact an attorney and accountant to discuss.
0 votes
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