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This title offers the inside scoop ...for when you want more than the official line. So you've decided to invest in real estate - congratulations! - but now you need to know how you can best manage your property and maximize your profit. How much should you spend on renovations? Where will you find responsible tenants? And how can you keep on top of new government regulations? "The Unofficial Guide to Managing Rental Property" answers these questions and many more, giving you insider guidance and valuable tips on managing and profiting from your investments.You'll find savvy advice on everything from legally setting rental criteria and managing properties part-time to successfully evicting delinquent tenants and collecting damages. This comprehensive, easy-to-follow guide reveals what other sources can't or won't, presenting unbiased recommendations to help you get the most out of your investments - and enjoy them! This title Offers: vital information on finding and financing great rental property and calculating rent and profit; insider secrets on selecting and retaining good tenants, ensuring on-time rent, and collecting late rent; money-saving tips for rehabbing a property and obtaining good tax advice; the latest trends in writing legal, effective ads and interviewing and screening applicants to avoid potential problems; and, handy forms and letters for contracting new tenants and communicating with current occupants.
- Sales Rank: #264735 in Books
- Brand: Brand: Wiley
- Published on: 2005-01-28
- Original language: English
- Number of items: 1
- Dimensions: 8.34" h x .98" w x 5.30" l, 1.25 pounds
- Binding: Paperback
- 456 pages
- Used Book in Good Condition
From the Back Cover
The inside scoop . . .for when you want more than the official line
So you've decided to invest in real estate—congratulations!—but now you need to know how you can best manage your property and maximize your profit. How much should you spend on renovations? Where will you find responsible tenants? And how can you keep on top of new government regulations?
The Unofficial Guide® to Managing Rental Property answers these questions and many more, giving you insider guidance and valuable tips on managing and profiting from your investments. You'll find savvy advice on everything from legally setting rental criteria and managing properties part-time to successfully evicting delinquent tenants and collecting damages. This comprehensive, easy-to-follow guide reveals what other sources can't or won't, presenting unbiased recommendations to help you get the most out of your investments—and enjoy them!
- Vital Information on finding and financing great rental property and calculating rent and profit.
- Insider Secrets on selecting and retaining good tenants, ensuring on-time rent, and collecting late rent.
- Money-Saving Tips for rehabbing a property and obtaining good tax advice.
- The Latest Trends in writing legal, effective ads and interviewing and screening applicants to avoid potential problems.
- Handy Forms and Letters for contracting new tenants and communicating with current occupants.
About the Author
MELISSA PRANDI, M.P.M., has been managing residential rental properties for over twenty-two years. She is the owner of Prandi Property Management, Inc., and a past national president of the National Association of Residential Property Managers (NARPM). Prandi has written and conducts several workshops specifically for property managers and is often one of the featured instructors at the annual National Convention of NARPM, as well as a key advisor for the organization's leadership-training symposium.
Most helpful customer reviews
11 of 12 people found the following review helpful.
Easy to read book for new investors
By Wonder Dog
This book covers the basics with a few novel ideas. Many of the ideas are common sense. A property manager would do well if he/she followed the ideas in this book. I recommend this book for a first time buyer of income property. The book does have some information on the long-term strategic management of a portfolio of properties. Both new and experienced investors sometime lack that type of thinking.
4 of 5 people found the following review helpful.
Must Read For New Landlords
By hungry-and-foolish
There are tons of landlord books, but many of them are boring to read or leave out important advice that new landlords need to know about. Melissa's book is easy to read and full of great ideas. My copy is bursting at the seams with sticky notes for things I need to do.
1 of 1 people found the following review helpful.
very dry, "by the book" book
By George P.
i am sure that author is great at what she does and if you read her credentials, she comes across as a pioneer and extremely knowledgeable. However, she repeats many things over and over. did she have a minimum on the pages she had to write?
The book is GREAT for someone who is THINKING of getting into real estate investment, but not for someone who already has a property. She gives you pretty much a list of things to consider BEFORE you purchase a property. However, after every topic/idea, she says "Consult a professional" or "Hire a plumber/electrician/inspector/CPA", etc, etc.
She suggests you hire outside help so frequently that i wondered throughout the book how can one make ANY money if you do actually hire everyone she recommends.
DId not like the empty statement like "reduce your operating expenses", without any follow up as to "how to actually do it". It's not like i can say, "gee, starting today, i am reducing my expenses just by thinking about it".
overall = great, great book if you are thinking about a rental property. average at best if you already own one.
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