This month marks my five year anniversary of being the owner of a rental house. There are a few things I have learned. And the very first is that my first instinct years and years and years ago is that I should not be a landlord was right. But we did it anyway so......
It is a business.
Never rent to friends. It is the same as never loan friends money. It puts a strain on the relationship.
It is easy as long as rent is paid on time and nothing breaks.
Houses can be expensive....if you do this right you can't let things slide like you might if you lived in it.
Expenses go up so rent really needs to increase as it happens and not try and play catch up.
Did I mention it is a business? And it needs to be treated as such.
Welcome to my new world of landlordism. I'm going to treat it as a business and my first order of business was to raise the rent a bit. I'm not heartless so only raised it $30. It needs to go up as expenses do and from now on it will. Afterall my rent has went up by almost $70 in the time I have lived in my apartment.
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