New Landlord - Owner Occupied Duplex
Hi everyone,
We recently purchased a duplex in Ohio we are going to owner-occupy and we are looking for any advice you all have as we become landlords. I’ve read the Book on Managing Rental Properties so I feel like I have a good foundation but would appreciate any additional information you can share!
I plan on using Cozy and Stessa to manage the property and financials. I also plan on setting up business checking and savings accounts as well as a business credit card. We also are going to “pay” ourselves market rent in order to track the performance of the property. We plan on acquiring additional properties and this property will eventually become 100% tenant occupied. Any suggestions you have on how to setup the foundation of our systems and processes to make things scalable in the future would be helpful!
Also, any comments on finding the best tenants would be great. We plan on following the guidelines laid out in the book.
Thanks!