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Rhodes - American landlord: everything U need to know about property management

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Leads everyone from the new landlord to the old pro through all the ins and outs of property management.

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AMERICAN
LANDLORD
Everything U Need to Know...

about
PROPERTY MANAGEMENT

TREVOR RHODES, CEO OF AMERUSA

Copyright 2008 by AmerUSA Corporation All rights reserved Except as permitted - photo 1

Copyright 2008 by AmerUSA Corporation All rights reserved Except as permitted - photo 2

Copyright 2008 by AmerUSA Corporation. All rights reserved. Except as permitted under the United States Copyright Act of 1976, no part of this publication may be reproduced or distributed in any form or by any means, or stored in a database or retrieval system, without the prior written permission of the publisher.

ISBN 978-0-07-154518-1
MHID 0-07-154518-2

The material in this eBook also appears in the print version of this title: ISBN 978-0-07-154517-4, MHID 0-07-154517-4.

All trademarks are trademarks of their respective owners. Rather than put a trademark symbol after every occurrence of a trademarked name, we use names in an editorial fashion only, and to the benefit of the trademark owner, with no intention of infringement of the trademark. Where such designations appear in this book, they have been printed with initial caps.

McGraw-Hill eBooks are available at special quantity discounts to use as premiums and sales promotions, or for use in corporate training programs. To contact a representative please visit the Contact Us page at www.mhprofessional.com .

Trademarks: Everything U Need to Know..., the Everything U Need to Know... horseshoe bar logo, AmerUSA, AmerUSA.net, and the AmerUSA swoosh logo are all trademarks or registered trademarks of the AmerUSA Corporation and may not be used without written permission. All other trademarks are the property of their respective owners.

Disclaimer: While the publisher and the author have used their best efforts in preparing this book, they make no representations or warranties with respect to the accuracy or completeness of the contents. Neither the publisher nor author shall be liable for any loss of profit or commercial damages, including but not limited to special, incidental, consequential or other damages. If legal advice or other expert assistance is required, it is strongly recommended that the services of a competent and experienced professional should be sought.

TERMS OF USE

This is a copyrighted work and The McGraw-Hill Companies, Inc. (McGraw-Hill) and its licensors reserve all rights in and to the work. Use of this work is subject to these terms. Except as permitted under the Copyright Act of 1976 and the right to store and retrieve one copy of the work, you may not decompile, disassemble, reverse engineer, reproduce, modify, create derivative works based upon, transmit, distribute, disseminate, sell, publish or sublicense the work or any part of it without McGraw-Hills prior consent. You may use the work for your own noncommercial and personal use; any other use of the work is strictly prohibited. Your right to use the work may be terminated if you fail to comply with these terms.

THE WORK IS PROVIDED AS IS. McGRAW-HILL AND ITS LICENSORS MAKE NO GUARANTEES OR WARRANTIES AS TO THE ACCURACY, ADEQUACY OR COMPLETENESS OF OR RESULTS TO BE OBTAINED FROM USING THE WORK, INCLUDING ANY INFORMATION THAT CAN BE ACCESSED THROUGH THE WORK VIA HYPERLINK OR OTHERWISE, AND EXPRESSLY DISCLAIM ANY WARRANTY, EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED TO IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. McGraw-Hill and its licensors do not warrant or guarantee that the functions contained in the work will meet your requirements or that its operation will be uninterrupted or error free. Neither McGraw-Hill nor its licensors shall be liable to you or anyone else for any inaccuracy, error or omission, regardless of cause, in the work or for any damages resulting therefrom. McGraw-Hill has no responsibility for the content of any information accessed through the work. Under no circumstances shall McGraw-Hill and/or its licensors be liable for any indirect, incidental, special, punitive, consequential or similar damages that result from the use of or inability to use the work, even if any of them has been advised of the possibility of such damages. This limitation of liability shall apply to any claim or cause whatsoever whether such claim or cause arises in contract, tort or otherwise.

To my son, Bennett, the little cowboy
Your existence inspires the iconic symbolism of the Old West and...
the smile that appears on my face everyday
.

and

To my stepdaughter, Leah, the little debutante
Without you, the past ten years would have lost their sense of humor and...
their sense of grace
.

In memory of

Stanley & Ann Pikulinski
and Fletcher Rhodes

Acknowledgement

This being the first volume in the Everything U Need to Know... series, we would like to acknowledge and give proper thanks to the following people for their support and professional advice: Lisa Rhodes, Joseph & Deanne Spinazzola, Jacob & Brianna Smith, Jason & Kimber Ramage, Jeff Read, Joseph Casamento, Christopher Michael, Andrew Waggoner, Christopher & Nicole Rhodes, Josephine Rhodes, Glenn & Dawn Marie Humphreys, Sue Humphreys, Michael Rhodes, Paul Denker, Pegoty Lopez, Lyn Lopez, James Dennis & Linda Walsh, Kent & Glenda Petelle, Christopher Jones, Cameron Rhodes, Tyler Rhodes, Pamela Phillips, John Stalker, Kevin & Evan Petelle, Kara Petelle, Alex & Max Chudy, and the many thousands of AmerUSA clients who epitomize what it is to be a successful American Landlord.

A special thanks also goes to those responsible for bringing this series to market:

McGraw-Hill

Herb Schaffner - Publisher, Business Group
Mary Glenn - Director, Business Editorial
Janice Race - Senior Editing Supervisor
Maureen Harper - Production Manager
Anthony Landi - Senior Art Director
Staci Shands - Senior Publicist

Everything U Need to Know.../AmerUSA Corporation

Trevor Rhodes - Creative Director/President & CEO
Tomas Mureika - Managing Editor/Director, Media Relations
Ronald Rhodes - Vice President, Finance
Ross Dunkerley Vice President, Production
Mary Rhodes - Vice President, Customer Relations
Nicole Fvrier - Director, Legal Research
Nadine Smith - General Counsel
Laurence J. Smith - Senior Legal Counsel

Table of Contents

Chapter 16: Move Em In, Move Em Out:
What to Do Before Tenancy Begins and Ends

Chapter 17: Non-Owner Occupied Financing:
Making Dollars and Sense Out of Mortgages

Introduction

Whether youre getting started, getting frustrated or just not getting it all, becoming a successful landlord is not always easy. Be it on account of the maintenance, the tenants, the financing or the remaining list of unforeseen potential pitfalls, owning rental property can often be downright frustrating however, it doesnt have to be that way! Regardless of whether youre renting out a single room in your home or are responsible for multiple property units, American Landlord brings you the collective personal experiences of thousands of professional and average American everyday landlords, so that you may learn in only a few hours what usually takes years to discover the hard way

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