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March 1st, 2007 at 9:11 pm
Hello Shmandlord,
I believe that knowing and understanding your customers (or in our case tenants) is imperative for success. Being a landlord in the University City District of Philadelphia, knowing the tenant base is not terribly difficult for me. Having lived in the area in the past, I know and fully understand the needs here. Also, I periodically ask my tenants if they are happy or if anything needs to be addressed. So far, my tenants have given me positive feedback and tell me they appreciate my talking to them.
Great post and great blog! I look forward to reading more of your posts.
University City Landlord
June 14th, 2008 at 11:42 pm
Great Blog! I’m a small-time investor with a few rental properties. Here are a few factors which I consider before purchasing a rental property:
1. Property Value Trends
2. Crime Rates
3. Rental Demand
4. Fair Market Rent values
The easiest way for me to assess these factors is to invest in familiar neighborhoods. But if you’re going to an unfamiliar town it is important, in addition to what you’ve stated in your post, to find a way to assess these factors also. Looking forward to following your blog!