To avoid problems, owners should be mindful of the things that can affect the rental value of their property.1. Tenant Reference and Employment ChecksThis should go without saying, however, too many landlords meet prospective tenants in person and trust them because they are nice and affable people.2. Systems Failing and Things BreakingHave a plan before things break and systems fail. Build relationships with plumbers, electricians, handymen, etc., creating a strong network of vendors that you can trust.3. Eviction RightsDon't rent to anyone you can't evict. Who rents your home will make or break your rental income?4. Realistic Rent AmountsCheck local rental listings to find out what you can realistically charge. If you want to find a good tenant, the rent must be comparable to the going market rate.5. Local LawsLandlords will be tempted to rent more space than is locally allowed, such as a finished basement that is not approved as a legal unit.6. Your Investing GoalsOne thing many first-time landlords forget to do is define their investing goals. We certainly did this with our first rental property.7. If the Numbers WorkBefore you get emotionally invested in the idea of converting your home into a rental, you have to run the numbers.8. Condition of The Home's MaintenanceIn assisting a client with finding a rental property, you must consider the condition of the home's maintenance.9. Getting Long-Term TenantsConsider finding tenants that are interested in longer-term leases as this will save you time and money in the long run.10. Renters InsuranceMake sure that the tenants who rent my clients' properties have rental insurance coverage.11. Vacancy CostsRemember that pricing a property at market rate helps you become cash flow positive sooner and lowers vacancy costs.12. Home Warranty PlansBecoming a landlord? Be sure to pay a few hundred dollars a year on a home warranty plan that covers repair costs with a minimum fee upfront and make the tenant pay the fee each time.13. Property InspectionGetting a property inspection prior to tenants moving in is always a good idea.Published by Winston Rowe and Associates https://www.winstonrowe.com