The Unofficial Guide to Managing Rental Property [Paperback]

Melissa Prandi MPM (Author)

Book Description

ISBN-10: 0764578189 | ISBN-13: 978-0764578182 | Publication Date: January 28, 2005

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.

Editorial Reviews

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.

Product Details

• Paperback: 455 pages
• Publisher: Wiley (January 28, 2005)
• Language: English
• ISBN-10: 0764578189
• ISBN-13: 978-0764578182
• Product Dimensions: 8.3 x 6.5 x 1 inches
• Shipping Weight: 15.2 ounces (View shipping rates and policies)
• Average Customer Review: 4.1 out of 5 stars  See all reviews (8 customer reviews)
• Amazon Best Sellers Rank: #247,253 in Books (See Top 100 in Books)

Customer Reviews

Most Helpful Customer Reviews

8 of 9 people found the following review helpful:

3.0 out of 5 stars Easy to read book for new investors, October 25, 2005

By 

Wonder Dog - See all my reviews

This review is from: The Unofficial Guide to Managing Rental Property (Paperback)

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.

3 of 3 people found the following review helpful:

4.0 out of 5 stars Must Read For New Landlords, July 29, 2007

By 

Ryan - See all my reviews

This review is from: The Unofficial Guide to Managing Rental Property (Paperback)

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.

2 of 2 people found the following review helpful:

5.0 out of 5 stars Some uncommon common sense, August 20, 2007

By 

Steele Warren "Red" (San Diego, CA) - See all my reviews

This review is from: The Unofficial Guide to Managing Rental Property (Paperback)

This book is written succinctly about property management. There is no lull or fluff. As a real estate investor and developer, I've got notes all over the book as Melissa Prandi makes the uncommon common as there is a LOT involved with proper management. Managing rental property is not as easy as it sounds and the author sheds light and ideas all throughout.
Buy this book as the smallest management correction may be your biggest savings. It was for me in having roommates fill out applications (big headache and dorm room prior).