If you need assistance, please call 587-401-2749

Landord TIPS

Monday, August 24, 2015   /   by Robert Fyfe

Landord TIPS

How to Become a LANDLORD.

Fixing up a basement suite or buying a duplex to rent out may seem like an easy way to make money - but it’s harder to be a successful landlord than you think.
5 Things you need to consider :

1. Is it a money maker?

general rule for the strategic real estate investor = Rate of Return of 8%
Cash flows in any market.

2. Get your Legal Issues in order.

Understand the law and your legal obligations. Write good Leases.

3. Find the right Tenants.

Advertise is becoming easier with online sites. Due your due diligence ; credit report, employment verification and call reference landlords.

4. Keep your Tenants happy!

Be responsive when you have any issues. Upgrade things when you can. Be fair.

5. Take Prompt action on Bad Tenants

A quick and aggressive response to bad tenants is necessary to minimizing damage or loss income.

Thanks for reading.


Maxwell Progressive
5560 Windermere Blvd
Edmonton, AB T6W TZ8

The trademarks REALTOR®, REALTORS® and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by CREA and identify the quality of services provided by real estate professionals who are members of CREA.

Data is deemed reliable but is not guaranteed accurate by the REALTORS® Association of Edmonton. Copyright 2022 by the REALTORS® Association of Edmonton. All Rights Reserved. Data last updated October 1, 2022 12 PM
This site powered by CINC: www.cincpro.com