Synopses & Reviews
You'll need to wear many hats in the business of property management: advertiser/promoter (in seeking tenants), host (in showing your property), handyman (in keeping up with and arranging repairs), bookkeeper (in maintaining records), and even counselor (in dealing with tenants and their problems). But Property Management For Dummies
will help you maintain your sense of humor – and your sanity – as you deal with these challenges and more.
You may become an unintentional property owner – someone who inherited a house from a relative and didn't want it to sit idle, or someone who transferred to a job in another city and decided to rent your home rather than sell it – or you may have entered the world of property ownership intentionally. Either way, real estate offers one of the best opportunities to develop a steady stream of residual income.
Property Management For Dummies is organized by specific topic areas, so you can easily and quickly scan a topic that interests you, or you can troubleshoot the source of your latest major headache. You'll discover how to
- Evaluate your skills and personality to see whether you have what it takes to be a landlord
- Keep your units occupied with paying tenants who don't destroy your property
- Move in your new tenants and move them out – and everything in between
- Assemble the right team of professionals to help you, from employees to contractors
- Insure your property and understand the taxes that go with it
- Look for additional sources of income beyond rent, including the opportunities and pitfalls of lease options
While many of life's lessons can be uncovered by trial and error, property management shouldn't be one of them – the mistakes are too costly and the legal ramifications too severe. In this book, you'll find proven strategies to make rental property ownership and management not only profitable but pleasant as well.
Unlike many jobs, property management is not an occupation best learned through trial-and-error. When there are people, property, and payments involved, it's essential to understand what you're doing, both legally and financially. Property Management For Dummies teaches you the strategies every good landlord should know.
"Whether you have one rental or hundreds, this is a book to keep close by." Dave Liniger, Chairman of the Board, RE/MAX International, Inc. Praise for Property Management For Dummies "Robert Griswold is the guru of smart property management. You won't find a better written, more practical book on the subject." Kenneth Harney, nationally-syndicated real estate columnist, The Washington Post Writers Group "Not just theory great advice in plain English for all rental property owners and managers." Arthur B. Laffer, Laffer Associates, San Diego
Get tips on dealing with problem tenants, legal issues, and more!
Find out how to minimize rental headaches and maximize cash flow Whether you inherited a home you now need to rent or you're aiming to become a real estate tycoon, this friendly guide is your road map to success. Renowned real estate expert Robert Griswold walks you through every aspect of property management, showing you how to avoid legal problems, deal with tenants and maintenance and increase your income!
Discover how to: Advertise your property and screen tenants Collect rent and ask for rent increases Hire maintenance employees and vendors Deal with record keeping, taxes, and insurance Explore niche rentals and other options
Get smart! www.dummies.com Sign up for daily e-tips at www.dummiesdaily.com Choose from among 33 different subject categories Get news you can use on everything from money to health to computers
The fun and easy way tomake managing propertiesboth profitable and enjoyable!
Thinking about becoming a landlord? This guide gives you proven strategies for establishing and maintaining rental properties, be they single family or multi-resident. You'll see how to prepare and promote your properties, select tenants, handle repairs, avoid costly mistakes and legal snafus — and meet your long-term goals.
Learn all the basics of the rental housing business — from finding and showing properties and dealing with tenants to record keeping and paying your taxes
Prepare your properties for prospective tenants — set the rent and security deposit, clean up properties, and verify rental applications
Become a top-notch manager — work efficiently with employees and contractors to keep your properties safe and secure
Manage your money wisely — evaluate the different types of insurance and understand income and property taxes
Bonus CD Includes
Sample rental contracts, financial worksheets, eviction notices, and other valuable tools for simplifying day-to-day operations
See the CD appendix for details and complete system requirements.
Open the book and find:
Advice on whether you should manage the property yourself or hire a pro
The latest on property management and rental housing laws
Tips for handling vacancies, renovations, open houses, mandatory disclosures, rent increases, and evictions
The pros and cons of lease options, working with public rental assistance programs, and maintenance alternatives
Troubleshooting advice for rent collection problems, housing discrimination complaints, and environmental hazards
Thinking about becoming a landlord? Property Management Kit For Dummies, 2ndEdition
gives you proven strategies for establishing and maintaining rental properties, be they single family or multi-resident. You'll see how to prepare and promote your properties, select tenants, handle repairs, avoid costly mistakes and legal snafus — and meet your long-term goals. You’ll learn all the basics of the rental housing business — from finding and showing properties and dealing with tenants to record keeping and paying your taxes.
Now you can find out if you really have what it takes to successfully manage rental property and you’ll learn all about the various options for hiring someone else to manage your property for you. You’ll find out the right way to prepare your properties for prospective tenants, set the rent and security deposit, clean up properties, and verify rental applications. In no time at all, you can become a top-notch manager by working efficiently with employees and contractors to keep your properties safe and secure. Find out how to:
- Manage your time and money wisely
- Acquire a property and prepare it for tenants
- Make your property stand out and attract tenants
- Keep good tenants and get rid of bad ones
- Collect and increase rent
- Evaluate the different types of insurance and understand income and property taxes
Complete with lists of ten reasons to become a rental property owner, ten ways to rent your vacancy, and the ten biggest mistakes a landlord can make Property Management Kit For Dummies, 2ndEditionwill help you achieve your dream of being a successful rental property owner.
About the Author
Robert S. Griswold, MBA,is a successful real estate investor and hands-on property manager with a large portfolio of residential and commercial rental properties. He uses print and broadcast journalism to bring his many years of experience to his readers, listeners, and viewers.
Table of Contents
PART I: So you Want to Be a Landlord?
Chapter 1: Do You Have What It Takes to Manage Your Own Rental Property?
Chapter 2: Deciding Whether to Manage Your Property Yourself or Hire a Pro.
Chapter 3: Taking Over Property.
PART II: Renting your Property.
Chapter 4: Preparing Your Rental Property for Prospective Tenants.
Chapter 5: Rent, Security Deposits, and Leases: The Big Three of Property Management.
Chapter 6: For Rent: Generating Interest in Your Rental.
Chapter 7: Handling Prospects and Showing the Rental.
Chapter 8: Eenie, Meenie, Miney, Mo: Selecting Your Tenants.
PART III: The Brass Tacks of Managing Rentals.
Chapter 9: Moving In the Tenants.
Chapter 10: Collecting and Increasing Rent.
Chapter 11: Keeping the Good Tenants -- and Your Sanity.
Chapter 12: Dealing with Problem Tenants.
Chapter 13: Moving Out Tenants.
PART IV: Techniques and Tools for Managing.
Chapter 14: Working with Employees and Contractors.
Chapter 15: Maintenance.
Chapter 16: Safety and Security.
PART V: Money, Money, Money!
Chapter 17: Two Necessities of Property Management: Insurance and Taxes.
Chapter 18: Financial Management and Recordkeeping.
PART VI: Only for the Daring.
Chapter 19: Non-Rent Revenue and Lease Options.
Chapter 20: Government Programs.
Chapter 21: Working in Niche Markets: Students, Seniors, and More.
PART VII: The Part of Tens.
Chapter 22: Ten Reasons to Become a Rental Property Owner.
Chapter 23: Ten Ways to Rent Your Vacancy.
Chapter 24: Ten Ways to Increase Cash Flow.
Book Registration Information.