Quote:
Originally Posted by Lamplighter
Being an out-of-town landlord can be deadly.
If you do rent out your place, get a good Property Manager firm
If you do get a Property Manager, do a LOT of research on them be for signing a contract.
If you do a lot of research, include talking with some of their clients.
It's pay me now or pay me later.
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Being an in-town landlord can be just as deadly. Tenants that start off with what appear to be impeccable rent histories can drop their bundle and stop paying, refuse to answer their phones/return messages, open their mail and then reneg on payment plans. Not that every tenant is like that...you just have to be prepared for unreliability. Take out landlord insurance.