Start a rental property in 7 steps
May 8, 2009 2 CommentsStart a rental property in 7
steps
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Step 1: Decide what type of propertyDecide what type of property you would like to lease for your rental company. Many of these businesses work exclusively with multi-family housing, while others work in commercial properties or single-family dwellings. There are benefits and drawbacks to each, so go with the type that feels most comfortable.
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Step 2: Acquire PropertyAcquire enough property to start a rental company. In the case of multi-family housing or commercial business, a single property will probably be sufficient to start. However, if you're going to be leasing houses, you might want two or three properties for lease.
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Step 3: Create LeaseDevelop a lease with the help of an attorney or real estate agent. The lease should cover every aspect of the tenant-landlord relationship, and should state specific policies and procedures for renting.
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Step 4: InspectHire ...
