Rental Property Management Tips for New Landlords

rental-property-managementBecoming a landlord can be an extremely rewarding experience, but it can also be incredibly complex. Many people become accidental landlords when they end up with a property they cannot occupy. Others choose to become a landlord as a part-time job or for retirement income. Still others want to make a profession of being a landlord. Either way, there are a few things that new landlords should consider when looking for rental property management.

Rental Property Management Tips

Get Your Legal Documents In Order First

Before you even think about becoming a landlord, you should iron out any of the legal issues associated with rental property management. First, get a lease drawn up by an attorney. While you can download forms online, you will have absolutely no guarantee that these leasing documents will be applicable to your home or apartment, state, or city. Even worse, the documents may not be legally binding. You will save yourself a significant amount of headache later on by getting your rental property management documents composed by a lawyer at the outset. Read more

How to Become a Certified Property Manager

certified-property-manager_2The increasingly competitive real estate market has a consistent demand for certified property managers (CPMs). These are senior professionals, who unlike their unqualified counterparts, have been comprehensively trained on different real estate aspects and certified to manage rental properties. They are globally recognized as experts with the relevant leadership, analytical and administration skills required to effectively manage a wide range of real estate portfolios- including residential, industrial, commercial, mixed-use, condominium, and institutional.

Due to their expertise, they are largely preferred by property owners and developers. According to the Institute of Real Estate Management, 70% of CPMs hold the highest positions in their respective real estate companies. To join their league one has to be become a certified property manager by obtaining the requisite designation. Read more