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Real Estate Investing - Original Content

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How to Effectively Manage Your Rentals from Anywhere on Earth

You can literally live anywhere in the world and enjoy your rental income … if you set up your rental management thoughtfully. But what if you don’t want to lose 10-15% of your rental income (including tenant placement fees) to a property manager? Make sure this document is included with your lease package, and have your local agent take timestamped photos! Pro Tip: Have your go-to local conduct property inspections at least once a year (preferably twice) to check on how the tenants are treating the property. You’ll need to hire a local service to handle evictions for you if your tenants stop paying the rent or otherwise break your lease agreement. Pro Tip: Include a clause in your lease agreement that eviction-related costs will be billed to the tenant. This way, you don’t come out of pocket for the cost of hiring an eviction service. Pro Tip: Within a week or two, this same person will be handling the open house and move-in inspection for you, right? Negotiate all of these services as part of one “turnover service” fee. Spark Rental provides free landlord training videos, and a wide range of landlord services including tenant screening, state-specific lease agreement packages, state landlord-tenant law summaries and automated rent collection.