{"id":1377,"date":"2020-04-17T09:12:33","date_gmt":"2020-04-17T16:12:33","guid":{"rendered":"https:\/\/www.insureone.com\/knowledge-center\/?p=1377"},"modified":"2023-03-08T09:12:58","modified_gmt":"2023-03-08T17:12:58","slug":"how-to-be-a-landlord","status":"publish","type":"post","link":"https:\/\/www.insureone.com\/knowledge-center\/homeowners\/how-to-be-a-landlord\/","title":{"rendered":"How to be a Landlord: What You Need to Know"},"content":{"rendered":"\n<p>Being a landlord or property manager is a tough business. Buying property and renting it out comes with a lot of responsibility. Landlords must deal with making repairs to the property, tenants who do not pay their rent, and other problems.\u00a0<a href=\"https:\/\/www.insureone.com\/landlord-insurance\/\">Landlord insurance<\/a> is one way to help mitigate potential issues with your properties and renters.<\/p>\n\n\n\n<p>It\u2019s easy to start viewing tenants as dollar signs, but the key to being a good first-time landlord is building a healthy relationship with renters. You also need to have financial resources, managerial skills, and more. Below are things you need to know when learning how to be a landlord.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Get to Know Your State\u2019s Laws<\/h2>\n\n\n\n<p>Violating a tenant\u2019s rights can land you in civil court, so you should know your state\u2019s laws. Every state has a landlord-tenant act that covers rights and obligations, rent, evictions, and more. You can get a copy from the Department of Housing office in your area or their website.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Screen All Applicants<\/h2>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"alignleft size-large\"><img decoding=\"async\" width=\"820\" height=\"486\" src=\"https:\/\/www.insureone.com\/knowledge-center\/wp-content\/uploads\/sites\/4\/2020\/04\/does_a_landlord_have_to_paint.jpg\" alt=\"landlord helping tenants how to be a landlord\" class=\"wp-image-1379\" \/><\/figure><\/div>\n\n\n\n<p>The screening process is crucial to finding a reliable tenant. This step determines if a renter is reliable. It involves collecting applications and running credit and background checks on prospective tenants who are over 18 years old. You will need a renter\u2019s history and background information, including:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Current and previous residences<\/li><li>Employment&nbsp;<\/li><li>Income<\/li><li>Any prior evictions or bankruptcies<\/li><li>Household information like additional occupants and pets<\/li><\/ul>\n\n\n\n<p>When a prospective renter meets the basic requirements, then you can do a credit and background check to verify the information.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Make Necessary Repairs in a Timely Fashion<\/h2>\n\n\n\n<p>When your tenant contacts you for repairs to the property, promptly set up a time to look at the damage, if the repair is an emergency, get it taken care of right away. If it\u2019s not an emergency, schedule a repair with the tenant as soon as possible. The faster you make repairs, the better chance you have at retaining the tenant and having a good relationship with them.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Respect Your Tenant\u2019s Privacy<\/h2>\n\n\n\n<p>While you have the right to inspect your property, tenants want their privacy. In fact, several states require that you give them ample notice before you enter the property. If there are repairs that need to be made, coordinate with your tenant\u2019s schedule.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Consider Landlord Insurance for Your Rental Property<\/h2>\n\n\n\n<p>Also known as rental property insurance, this type of insurance covers property damage, liability costs, and loss of rental income for landlords renting their property.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Keep the Lines of Communication Open&nbsp;<\/h2>\n\n\n\n<p>Like any relationship, a landlord-tenant relationship must be based on communication. Make sure they know how to get in touch with you in an emergency and provide an email address. Your tenants will feel at ease if they know they can contact you. They should also know what they are responsible for when it comes to upkeep. For instance, a tenant may be wondering: \u201cis it a landlord\u2019s responsibility to paint?\u201d Make those kinds of things clear from the start.&nbsp;<\/p>\n\n\n\n<p>It is not easy to learn how to start a rental property business. However, if you do your research and abide by your state\u2019s laws, you can enjoy a lasting, profitable relationship with your tenants.&nbsp;<\/p>\n\n\n\n<p>Thinking about renting out a property? InsureOne has your back with landlord insurance! We remain open and ready to help, start your free landlord insurance quote online or give us a call today.<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<div class=\"wp-block-buttons is-content-justification-center is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link has-white-color has-vivid-red-background-color has-text-color has-background\" href=\"https:\/\/www.insureone.com\/landlord-insurance\/\">Get a Quote<\/a><\/div>\n<\/div>\n\n\n\n<div style=\"height:15px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<div class=\"wp-block-buttons is-content-justification-center is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link has-white-color has-vivid-red-background-color has-text-color has-background\" href=\"tel:800-836-2240\">Call Us<\/a><\/div>\n<\/div>\n\n\n\n<div style=\"height:15px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<div class=\"wp-block-buttons is-content-justification-center is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link has-white-color has-vivid-red-background-color has-text-color has-background\" href=\"https:\/\/www.insureone.com\/find-an-office\/\">Find Your Office<\/a><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Being a landlord or property manager is a tough business. Buying property and renting it out comes with a lot of responsibility. Landlords must deal with making repairs to the property, tenants who do not pay their rent, and other problems.\u00a0Landlord insurance is one way to help mitigate potential issues with your properties and renters. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[50,49],"tags":[],"class_list":["post-1377","post","type-post","status-publish","format-standard","hentry","category-homeowners","category-tips-for-homeowners"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.insureone.com\/knowledge-center\/wp-json\/wp\/v2\/posts\/1377"}],"collection":[{"href":"https:\/\/www.insureone.com\/knowledge-center\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.insureone.com\/knowledge-center\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.insureone.com\/knowledge-center\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.insureone.com\/knowledge-center\/wp-json\/wp\/v2\/comments?post=1377"}],"version-history":[{"count":7,"href":"https:\/\/www.insureone.com\/knowledge-center\/wp-json\/wp\/v2\/posts\/1377\/revisions"}],"predecessor-version":[{"id":3262,"href":"https:\/\/www.insureone.com\/knowledge-center\/wp-json\/wp\/v2\/posts\/1377\/revisions\/3262"}],"wp:attachment":[{"href":"https:\/\/www.insureone.com\/knowledge-center\/wp-json\/wp\/v2\/media?parent=1377"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.insureone.com\/knowledge-center\/wp-json\/wp\/v2\/categories?post=1377"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.insureone.com\/knowledge-center\/wp-json\/wp\/v2\/tags?post=1377"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}