Landlord-Investor Long-Term Commitment
Atlanta Rental Services: Landlord and Investor Rental Commitment
Long Term Goals and Objectives
Atlanta Rental Services has touched base about the Metro Atlanta rental market for the coming year in a prior post. Now we will focus on Landlords and Investors establishing long-term goals and objectives. First it will be essential to keep a close eye on the real-estate market as it changes constantly. Second it’s necessary for all Landlords and Investors to have a long-term goal and objectives in place for overall success. See below for details.
Rental Property Check List for Landlords and Investors
A first time Landlord-Investor will want to do in-depth research as to the type of product that best fits their needs. Not all rental properties are created equal. Finding the right fit for your investment will be key to long term success.
Always keep in mind price point, location, features, age and upkeep of the investment property. These items are crucial for overall long-term success for any Landlord or Investor. Make sure to also view similar properties already in the area you are looking for rental product in. Also, make sure not to overspend as this will make your property less cost effective both in the short and long-term.
Note: Renters will view many properties before selecting whichever one best fits their needs and cost will always be one of the main factors for their selection. When viewing prospective rental property as an investment keep the following criteria in mind:
* Overall costs to maintain, the desirability of its location, neighborhood and schools.
Landlord and Investor Expectations
Always keep in mind as a Landlord and Investor the long-term objective is key to any success. Do not look at being a Landlord or Investor as a short term commitment. The first rental property will have more challenges due to it being a new endeavor and a learning curve. Don’t be afraid to ask questions from professionals. Once you have several rental properties under your belt you will have a much better understanding of things. Be cautious about just jumping in. Do research, reach out to others in the business and stay to your long term goals and objectives.
Additional Expenses and Outcomes
When selecting rental property always make sure to budget for upgrades, annual maintenance, taxes, HOA fee’s etc. This will be essential for a successful Landlord and Investor to see the financial returns one would look for and grow over time. Putting in the time and effort now will reap the benefits in the near future.
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Atlanta Rental Services will post regular insights, trends and items to keep in mind here on our Blog pages for your consideration. Check in on a regular basis for our next posting. For any questions or assistance, don’t hesitate to contact us.
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