As a rental property owner, you would be responsible for any issues your renters might experience from bug problems to broken pipes. You would also need to know and understand the legal side of being a rental property owner. If you’re considering renting property here are a few things you may want to consider.

Commitment

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Being a renter requires more from you than just the initial purchase of the property. The care and upkeep of the property will most likely be entirely in your hands. That doesn’t necessarily mean you have to do it all yourself, but you will be responsible for ensuring that it does, in fact, get done.

Whether you hire someone like this handyman in Portland to take care of maintenance, or are able to do the jobs yourself. You’ll need to make sure the pipes are getting fixed, doorknobs are being replaced and that you’ve got a roof repair service in if there’s any signs of leaking. You’ll also need to keep the yard in mind. Does your property have grass that needs cutting and bushes that need trimming? Will you need snow removal set up during the winter months? And in terms of emergency maintenance, will you need to invest in commercial floor cleaning in Salem, OR (or wherever it is your property is located) if there is a leak or other malfunction that results in damage? You can work these things out with your tenant to decide whether they take responsibility or whether you will do them yourself.

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Getting paid is a wonderful thing. Lots of people prefer to do online payments these days since they can to it from the comfort of their living room. Though it might be easier for you if your tenant just writes you a check, consider that it might be best to set up on online payment option for their convenience.

Legal Problems

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It’s good to look ahead at possible problems that could arise. Before you jump into being a renter make sure you check local and state laws and guidelines. Some ordinances and associations won’t allow rentals in certain neighborhoods. Some places also have special taxes or fees that apply to rental properties.

Do your research before making an investment. It would be awful to put all that money into a property just to find out it can’t actually be rented out in the area that it’s located in.

Tenant Screening

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“I always say that 95 percent of a landlord’s problems can be eliminated in the tenant screening process,” John Nuzzolese, a New York-based landlord, real estate broker and president of the Landlord Protection Agency, says.

Always run credit and background checks on your applicants and don’t hesitate to contact their past two landlords. If you’ll be allowing pets in your rental property, but you’ve stressed that the pets need to be friendly then there is nothing wrong with setting up a meet and greet to ensure the people and the pets hold up to what they’ve put on paper.

Tenant Issues

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You will need to predetermine how you will deal with tenant problems. This is when having a property manager really comes in handy. If there are any renter problems than the manager will usually be the one to deal with them.

If you have a situation where a tenant needs to be evicted, take them to court first. If the judge rules in your favor have local law enforcement evict the rentee. That is their job, not yours. If you try to forcibly evict someone you could end up getting into trouble.

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Take all these things into careful consideration. If you go into being a landlord thinking that it will be a side job that you don’t have to worry much about, you might find yourself sorely mistaken. If you aren’t sure if this is for you, you might want to consider finding a property manager to help you. Just make sure you carefully map out your game plan and you should do great at being a rental property owner!

The post 5 Things To Consider Before Becoming A Landlord appeared first on InstantELLA.

But now one big question comes to mind: where will you live? On campus or off campus is the question, which one is the best option for you? Should you choose on-campus housing or off campus? And what does that even mean?1

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Here are a few pros and cons for housing on campus and off campus from some student apartments for BYU-I housing, which can hopefully make the decision process a little easier.

On-Campus

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The definition of on-campus housing is that the housing is considered to be on the actual campus, the most well-known type of on-campus housing being dorms.

Pros

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There are many pros to living on campus, especially if you are new to college and this is your first semester. Also, a lot of on-campus housing includes a meal plan, meaning you won’t have to worry about cooking.

The first pro is that you are on campus, meaning you are close to all the amenities that campus offers such as the school cafeteria or gym.

Another is that you most likely won’t need a car because you will be within walking distance for most parts of the campus.

Cons

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One con that many attribute to on-campus housing are that the people who tend to live there are mostly first or second semester students, so there isn’t a lot of variety in age and experience.

Also, some may find concentrating a little more difficult due to a large amount of activity in or outside the rooms.

Another con is that most of the on-campus housing means having more roommates than some of the off-campus housing.

Off-campus

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Off-campus housing is most apartment complexes that are around or very near the school but are technically not in school housing. Some colleges even have an approved housing list, which differs from just the community housing for that city.

Pros

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The off-campus housing means a little more independence and freedom, which can give the student more opportunity to learn responsibility and accountability.

Off-campus housing can also offer a little more variety of students, as well as more freedom for activities and such.

Another benefit of off-campus housing is that it can sometimes offer the student more privacy than on-campus housing can, with opportunities for private instead of shared rooms.

Also, there are instances where off-campus housing can be a little more cost-effective than on-campus housing just because there are more price options to choose from.

Cons

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One of the cons of off-campus housing is that depending on where you live it can be more of a commute to campus and may even require a car.

Sometimes with off-campus housing, you may need to make a little more effort to get involved in social activities on campus.

Also, there may be times off-campus where the tenants may be more rambunctious and noisier than on-campus housing.

Even though there are pros and cons for both on-campus and off-campus housing, either way, there is a great option for you and your needs.

The post Off-Campus Versus On Campus: The Pros And Cons of Choosing Student Housing appeared first on InstantELLA.