When you are contemplating whether or not to lease your property, there are many things to consider. Once you decide to invest in a property and to be a landlord, you have some very important and new responsibilities to your tenants, the property, and your neighbors. There are many reasons property owners become landlords. Some are not by choice. Maybe you cannot sell your property in a slow sales market. Maybe your job transfers you out of town for a while. Maybe you have inherited a home or condo and cannot go through the emotional stress of selling a family property. Whatever the case may be, once you decide to lease your property, you have created a small business for yourself. As with all businesses there are risks and rewards.

Just because your tenant is paying on time doesn’t mean that they’re taking care of your property!