How to Be a Successful Landlord

By Daniel Bortz
From Kiplinger’s Personal Finance
One of the important factors in generating positive cash flow from an investment property is being a great employer. But becoming a tenant involves navigating new tasks, such as screening tenants, creating contract agreements, and making household repairs—and a poorly managed house can make a hire a poor investment.
These are tips for primary- time landlords.
1. Assess Your Community’s Rules for Renting
If your home is a member of a homeowners or condo organization, there are probably regulations governing accommodations. Some laws forbid residents from renting out properties immediately, while others impose a cap on the number of models that can be rented out. There could also be limitations for rent terms as well as renter registration requirements, deposits, and proceed- in fees….

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