There were times in the past when rental property owners could place a sign in the yard of a property and who ever had the money to rent the unit first was the winner and received a place to live.
The times are no longer as simple as they once were.
  There are three ways rental property owners can choose to obtain quality tenants:

1. Elect to obtain a property management company
2. Hire an onsite property superintendent
3. Manage the property themselves.
   

In this multi-part article we will examine what it takes to be a landlord for the future and offer assistance for self managing landlords...
Tenants today are asking to receive more value for the rent they pay.
  Some want their utilities included, some want amenities such as a pool, spa or gym and yet some want simply a clean, safe and secure place to live.
Being a landlord is not for everyone.
  You may have heard horror stories from landlords regarding tenants who have destroyed properties, ruined lawns, never paid their rent on time and the list goes on.
  These stories are often told by potential rental property owners as the reasons for not wanting to invest in rental property.
While there is no doubt that there are tenants such as this, these stories actually concern the minority of tenants not the majority.
When 'land lording' is approached in a professional, dignified manner with respect to all concerned parties, owning rental property does not have to be a time-consuming, money draining process.
We can tell you from first hand experience that having quality tenants who respect and enjoy the unit in which they live is not only a pleasurable experience but also a profitable one.
Why then are there so many horror stories from rental property owners?  It's simple: They either don't prepare themselves or their property properly or they are misinformed of their tenants' wants and needs.
Let's examine the preparation of being a landlord.
Preparation Whether you own a house, condo, duplex or other type of rental property you must prepare the property if you want to obtain quality tenants.

• Preparing a property means:
• Having the unit properly or professionally cleaned
• Having the lawn maintained on a regular basis
• Providing free and clear access to the property
• Freshly painted as required

While a landlord is preparing a property for rent, they should be preparing themselves as well.
  This is best accomplished by obtaining all necessary rental forms and services such as:

• Application to Rent
• Unit Inspection form
• Credit and background checking services
• Obtain a Legal, binding in depth lease.
  

Many of these forms are available either at a local office supply store, or as a free download from websites on the internet.
  Whether you select a lease from the internet or purchase a pre-printed one, be aware that there may be additional items you want to add to your lease.
The nice thing about downloading forms is many times you can customize them to fit your needs.
  We will discuss this in more depth when we examine leases.
There are several reasons why landlords fail to obtain quality tenants.
  Some of these include:

1. Failure to educate themselves on the renting process and laws
2. Failure to financially prepare themselves
3. Failure to screen tenant applications properly
4. Failure to supply a well written, informative lease!

The next part of this series will cover the education process and responsibilities of landlords and tenants.
Summary Being a landlord does not have to be another horror story.
  It can and should be a profitable venture.
  Preparing both your property and yourself properly by becoming an informed property owner, may provide not only financial security for you and your family's future, but also provide a pleasurable experience by obtaining quality long term tenants.