What I Wish I Would've Known About Being A Landlord | Landlording 101

New landlords and aspiring rental property owners often go into this without fully considering what managing tenants is really like. Sometimes it's easy, sometimes it's a nightmare...

In this video, Steve Rozenberg shares some fantastic advice for new landlords from his years as a rental property owner in hopes that this helps you and your ability to manage tenants and run a smooth business.

[vibrantlotus]

Do not become their friend. I can’t express this enough. I was giving them food, furniture, etc. They saw it as a weakness and took advantage of my kindness. Firm and fair is 💯

[NickHalder]

I’m a new landlord and I love every second of it ❤

[Davena]

After being a landlord for over 26 years- ALWAYS do a background check on them. Even if it just checking your local county online records.

[crjetpilot]

I’ve had landlords in the past who clearly spent my security deposit, giving lame, sad excuses when it’s time to return those funds! I was always a model tenant, paying early and leaving the places spotless when I left. There are douchebags on both sides of the fence.

[ericworthington]

You're running a business.
You're not friends, keep it business.
You're not always right.
If its in the lease, Its a contract, enforce it.
Expectations with security deposit, it's still the tenants money.
Dont be emotional/personal with tenant.
Your obligation to take care of the property.
Dont let tenant do maintenance, in lieu of rent discounts.

[searchbug]

As a landlord, one of your biggest concerns is to protect the investments you have made in your property.
To ensure that you get a good tenant, it is always best if you take the time to conduct background checks on them. We've heard a lot of horror stories from Quora wherein properties of landlords were seized due to illegal activities done by tenants in the rental property.

[joiamed]

I think in "Pursuit of Happyness" Chris Gardener offers to paint because he cannot pay the rent. Great movie though.

[royanbarryman]

I fully agree with this guy's suggestions. I am a land lord and I have done some of those mistakes. Good teaching. Thanks

[diazalex]

Solid advice. That 50 dollar repainting definitely came from experience

[tanyac]

Very well said! I'm glad I came across this video. Great pointers!!

[LivingOffRentals]

Always keep it professional! Great advice!

[mellymel]

Best video on this topic hands-down appreciate the insight!

[argile]

My tenants smoked crack upstairs in the middle of winter with the window wide open then complained the house was too cold and called code enforcement

[Je.rone_]

Not a landlord yet but being a tenant for 23 years i imagine it has its challenges

[realestateced]

Great tips Steve keep up the great work

[daddad]

🤔 I been managing properties for 25 years in a different parts of the US such as Los angels, county, riverside county and many other part in California, Vegas, Oklahoma, Arizona, Texas, Oregon, one thing that I can say about dealing with tenants and the rental agreement. Read and learn your rental agreement before you open your mouth trying to explain anything to a tenant. Read and explain the contract to the tenant before he/she signed the contract. Stop trying to look smart ame Listen to them . Respect tenants as you respect your property. My turnovers are and always been very low my rental increases have always been according to the need of the property and my court cases I never lost one single case. By away the largest property that ever managed was 550 units

[eddievega]

I like it. My opinion it also applies when dealing with a contractor. There are not your friend. Its a business. They might have knowledge on a trade. But when you see something thats seens not right. Take action.

[haryanvijaat]

Quite practical suggestions. Great video.

[teamginger]

Thanks! I'm new to this & glad I found you!

[PS-yfbj]

Great talking points. This is a business to make mortgage and get passive income. You are respectful, upfront, and honest. My 1st rental is just a few weeks away. Thank you for the tips.