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the property manager, not the landlord, or property owner. This will give you a more equal footing with the tenant, and problems, or complaints will always be referred to the owner. Even if that means it will give you time to think about it. And if the answer is negative to the tenant, they will not take it out on you. This can also be done with a partner. You have to run everything by the partner.

* Do not get emotionally involved with the tenant and their problems. This is not just limited to females, but girls, this is where we are most vulnerable. We tend to want to help others, and can get sucked into a tenant's lies, or outright scams. When you want to do the right thing, it is not always the wise thing. Set up parameters ahead. If the tenant is late 3 days, 5 days, or whatever time frame you have, send out the first late notice letter, then have it predetermined when you send out the demand letter. Have it as automatic as you can. If it helps, have someone who will do this for you. Do not put off the eviction process. (Be sure to follow the laws.) In other words run the rental business as "business like" as you can. I am not saying that if you have had someone for a tenant for awhile, and they face a new problem with their income, and they have been good tenants, to not work something out, but some people are "professional scam tenants".

* Do NOT rent to relatives, or friends. They sometimes expect you to be that "good friend" that doesn't care if you get paid. Or, another common thing is either they demand more, or you over improve the residence for them.

Are you frightened off yet from being a rental owner? Rental homes are one of the best real estate investments if you follow business sense for managing them. I just want you to be armed with the information that makes you wiser than the average person who casually decides to get into rentals "to make a lot of money." Always continue to educate yourself in real estate investing. Seek out as much information as possible.

Learn more about this author, Kathleen Couch.
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