How to become a landlord.

Tue, Sep 21, 2021 at 12:45PM

How to become a landlord.

How to become a landlord is something may should have researched. Pride and thinking you know how to do something potentially complex is a dangerous thing.It may not be intelligence that separates some new from someone successful but most likely it is experience.

Most Commonly People Start Like This.

You own a home and are moving. Since you have equity and a little cash you choose to lease your home and have someone else make the payments for you.

This is a great option if your rental income will be 10% over your mortgage payment.This will most likely prevent the home rental from negatively affecting your credit. You will need to advise your home owners insurance of your plans or what you have already done, the former is likely required. Keep in mind renting the home may make it harder to re-finance later unless it’s status changes back to your primary residence. Often it will affect the interest rate you are offered, various fees and the amount of equity the bank will want to see in the home.

Sometimes Investors Buy a Home to Lease.

This can be done successfully but it will be much more difficult in a seller’s market without a substantial cash output. Banks want to see equity, and want to justify charging you more interest. A certain amount of research and professional guidance is a great way to start. There is a lot to learn and the cheapest way to learn is through being willing to listen and be open to new information. Markets for rentals are quite varied and in some short-term rental markets large corporations have decided the money is in management not ownership.

Research Should Include

HOA restrictions should be obtained from the HOA and in writing.Do not put in an offer before reading the restrictions just because someone tells you.Also review any leasing restrictions that may be from the county or city. Trust me they are there and some are rather stringent. Finally, you should consider using us as your property management team The percentage charged to manage properties is so low it is just a no-brainer. Some very wealthy people have us manage their properties for good reasons. Contact us today for assistance and some advice on how to become a landlord.

Bookmark & Share

User Comments

Be the first to comment on this post below!

All listing information is deemed reliable but not guaranteed and should be independently verified through personal inspection by appropriate professionals. Listings displayed on this website may be subject to prior sale or removal from sale; availability of any listing should always be independent verified. Listing information is provided for consumer personal, non-commercial use, solely to identify potential properties for potential purchase; all other use is strictly prohibited and may violate relevant federal and state law. The source of the listing data is as follows: Stellar MLS (updated 3/19/23 8:18 PM) |

Listing Search

Translate Tool

Featured Listings
Kissimmee Real Estate
Apartment 700 sq ft. In-law quarters. Must have verified income gross 4500.00 per month. "NO PETS". "NO SMOKING". Livin... Read More
Saint Cloud Real Estate
AVAILABLE March 5, 2023. this is a 3 Bed/ 1 Bath apartment on the first floor. Located in the City of St Cloud, Florid... Read More
Windermere Real Estate
Available for immediate occupancy, this charming, updated and meticulously maintained 4BR/4 FULL Bath PLUS BONUS ROOM ... Read More
Kissimmee Real Estate
This 3 Bedroom 2 Bathrooms. Stain Steel Appliances in place and plenty of storage are great additions to this home. Bra... Read More
Groveland Real Estate
Enjoy privacy and comfort in this beautiful 4-bedroom two-bathroom pool home that sits on 5 acres, is gated and fully f... Read More
Contact Wendy Morris


Wendy Morris LLC
DBA Wendy Morris Realty
Licensed in the State of Florida
BK 3146762
11256 Lemon Lake Blvd
Orlando, FL 32836

Your privacy is our utmost concern. We will never sell your personal information. Privacy Policy
©2023 wendymorrisrealty.com - all rights reserved. | Site Map