Landlords: When you are on vacation, who do your tenants call when the furnace stops working? Do you take your phone with you, hoping you will have cell phone coverage? Who would get the call if you had a fire?

With some simply planning, you can easily get out of town and relax knowing your investment property is taken care of.

Prep prior to vacation:
1.

You have decided not to renew a particular tenant's lease for any number of reasons (late rent, noise complaints). Immediately after notifying them that they must be out by the 31st, they stop returning your calls and are very cold when you do see them.

You never hear from them again, but you stop by at 5pm on the 31st to check if they clean up the apartment only to find them still living there.

I can remember what it was like looking at the investment properties for sale on the internet. It was quite intimidating and a little overwhelming. It felt like being a freshman on the first day of high school! With any new venture, hobby, or career those initial nervous days will pass. First, you just need to get started. Second, it helps to surround yourself with advisors you trust to give you good advise.

Being a landlord requires management skills, sales skills, and negotiation skills as you are constantly working with people (your tenants). One sensitive subject for both the landlord and tenant can be "How much is the rent going to be?" Once the tenant is living there, raising the rent is important but can be a delicate decision.

Keep in mind that you must keep your investment real estate business growing.