Also for multiple tenants that are on a lease, the total of rent paid is split evenly between the tenants and each gets a CRP form for their portion of the rent collected on that apartment..

Review and process applications8.Collect security deposits and review leases with tenants. ( I dont like to just hand tenants a lease to sign without going over it in detail so that there is no confusion as to what is expected of them down the line)9.Inspect units semi-annually10.File for evictions immediately when rent is more than 5 days overdue. 11.

Collect on their insurance policy?

My advice....do not think of applicants as people, view them only as a collection of facts and data, there is absolutely no place for personal emotions in business.

Meaning you have your own solar or generator, water collection, and use a compost toilet?

@Victor Boctor I'm not the professional here, but I think that the character of the income is more important than how you collect it.

That means all costs are covered, with the exception of Income tax, and all pass through fees are not included (i.e cleaning fees, transient taxes, etc. which are collected from the guest and then paid out to appropriate entity.)Use both vrbo and Airbnb to maximize exposure.Always have money set aside for unexpected expenses, or if you find yourself needing to cover expenses because income was lower than expected.

Louis both the tax man and the real estate attorney urged us to register in the state in which we did business (bought property and collected rent).

This tenant has been nothing but difficult and seems as though they are somehow entitled and do not have to follow anything in the lease, I am adamant about actually collecting the late fees.

That's got potential to help investors long term.Chicago Renters Can't Afford Rahm's Property Tax Hike, Landlords SayBrian - I think a concern those of us owning in gentrified areas should have is that if this tax hike destroys property values in non-gentrified areas, then City revenue collections will fall in those non-gentrified areas (think pockets of Chicago like Detroit).