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February 2016
Top 5 Mistakes a Landlord Should Avoid

Owning an income property, and consistently generating income from that rental property, can feel like an art—the art of always trying to minimize mistakes that interrupt your bottom line. In addition to common home repair mistakes, a landlord also has to minimize costly legal mistakes that could cost far more than a leaky pipe or dead furnace.

Not vetting a potential tenant before renting to them

Ignoring this important step can lead to headaches later: missed rental payments, excessive damage to the home, broken rental agreements. You’d be foolish not to vet your prospective tenants, but it’s essential that you know what you can do—and not do—during the vetting process and what questions you can ask applicants. Improper execution of either process can lead to legal repercussions from denied applicants.