Pro Tips for Landlords

I need some guidance. I’m a new landlord responsible for managing two properties. Each property has six apartment units. I’ve taken care of the twelve apartments for about two years, and it’s much more challenging than I expected.

I’ve encountered multiple bad tenants so far. I’m constantly updating vacancy ads around town and filing paperwork. I also struggle to collect rent, because checks arrive at all different times in the mail.

All that work is time-consuming. There must be some way to reduce the amount of work I do. Are there products or services designed specifically for landlords and property managers?

Problem Property

My parents recently got divorced, which was pretty tough on the whole family. My father moved out of my childhood home, and decided to move into his own childhood home, which he had recently inherited. He obviously has a sentimental attachment to the property, but I’m really concerned about it. It’s very old and run-down, and I’m not sure it’s made of the sturdiest materials. I am afraid that it may literally fall down!

My dad says this is all nonsense, of course, and insists that old houses like this are “built tough” and “never fall down” – they used “better materials” back then, he says. But there are cracks in the walls and I’m very concerned. What should I do?

Contractor Costs

My parents recently renovated our home (my old high school bedroom is now an office – thanks, Dad). When they happened to mention how much it cost, I couldn’t believe it. They have been pretty generous with me, but I’m paying for a lot of college myself, and I was stunned to find out that they’d take on such a pricey project in our house. On top of that, I’m worried they got ripped off by their contractor. I’ve been upset about this for a while now, and I’m not sure how or if I should broach the subject with them again. Any advice?