Best Tips For New Landlords

Running a rental property business entails many legal responsibilities, so do yourself a favor and learn what you need to know before you advertise a vacant property. In the meantime, here are four very important tips to keep in mind when you become a landlord:

  1. Provide a reference binder. Include Manuals, brand and item numbers for the refrigerator and AC filters. If you don’t have the actual manuals, provide links for tenant to find them online. Also, a list of trusted vendors and their phone numbers. For example, lawn care, plumbers, handymen that you trust. Phone numbers for tenant to reach the homeowner or property manager if you have one.
  2. Educate yourself if you’re not hiring a professional property management company. Protect your property by knowing your local eviction guidelines and make sure you use the right lease agreement forms. There are classes, networks and online landlord communities where you can participate.
  3. Run this process like a business. Follow the entire screening process. Be careful not to skip employment references and credit checks when screening the tenant. Prepare for your first meeting with the tenant and make sure they understand your expectations. It will be a strong foundation for a good long-term relationship.
  4. Plan ahead. Create a funding reserve account so you can handle unexpected expenses.

Kerr Insurance will be happy to answer any questions you have about Florida insurance policies. We will give you a free, no-obligation insurance quote for you to consider. 

Call our office now at 954-917-1707 or toll free 1-877-332-6242 or click here to contact me by email.

Rental properties in Florida

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