Regardless of whether you plan to go on a nice vacation or spend some time relaxing at home, the holidays can provide some downtime to catch your breath and plan ahead for the upcoming year. After the hustle and bustle has ended, it can also be a great opportunity to catch up on some reading – particularly about ways to start or enhance a profitable real estate rental business.
Some of the top picks on your business’s bookshelf should ideally include:
Every Landlord’s Guide to Managing Property: Best Practices, from Move-In to Move Out
One of the first books on your to-read list should be, “Every Landlord’s Guide to Managing Property.” This guide literally takes you from A to Z in terms of how to attract and keep good tenants, as well as how to keep your property well-maintained, and how to avoid cash flow problems.
Every Landlord’s Tax Deduction Guide
With tax time just around the corner, another valuable read is, “Every Landlord’s Tax Deduction Guide.” Throughout the chapters of this book, you’ll learn how to deduct operating expenses, and the basics of depreciation, along with necessary record keeping systems that successful landlords need to have.
First-Time Landlord: Your Guide to Renting Out a Single Family Home
If you’re just getting started in the residential real estate investment niche, “First-Time Landlord: Your Guide to Renting Out a Single Family Home” by Nolo is a must. This book is loaded with key information on how to get your rental business up and running, as well as tips for making sure that you don’t leave anything out. As an added bonus, there are numerous charts and checklists that you can integrate directly into your business.
Even with a wealth of knowledge about running a successful real estate rental business, it may be time to hand over the day-to-day tasks to a property management service. That way, you can continue to receive rental income, but without taking up a large chunk of your own personal time.
If you own residential rental units in Central Florida, give us a call to learn more about how having an experienced property manager on your side can be a win-win scenario for you and your tenants.