- Paperback: 336 pages
- Publisher: NOLO; 1st edition (February 27, 2009)
- Language: English
- ISBN-10: 1413309119
- ISBN-13: 978-1413309119
- Product Dimensions: 6 x 1 x 9 inches
- Shipping Weight: 1.1 pounds (View shipping rates and policies)
- Average Customer Review: 4.3 out of 5 stars See all reviews (60 customer reviews)
- Amazon Best Sellers Rank: #1,220,572 in Books (See Top 100 in Books)
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First-Time Landlord: Your Guide to Renting out a Single-Family Home (USA Today/Nolo Series) 1st Edition
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Silver Award, 2010 Robert Bruss Real Estate Book Awards (National Association of Real Estate Editors 2010-06-01)
Rental prices (already astronomical in urban areas such as Oakland ) are rising in many parts of the U.S., making renting out a property an attractive financial option even for people who’d never considered becoming a landlord. This book provides an authoritative, fun-to-read primer on how to enter the rental property business. --This text refers to an alternate Paperback edition.
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Top Customer Reviews
Here are the different chapters:
1. Is Owning Rental Property for You?
2. Landlording with Family or Friends
3. Preparing and Marketing Your Rental Property
4. Screening and Choosing Good Tenants
5. Preparing a Lease and Getting the Tenant Moved In
6. Manage Your Rental Income to Maximize Tax Deductions
7. Keeping Things Shipshape: Repairs and Maintenance
8. Landlord Liability for Injuries, Crimes, and More
9. Dealing with Difficult Tenants
10. Hiring a Property Manager
11. Exiting the Rental Property Business
Each chapter has subchapters with specific topics that are easily referenced via the table of contents if you are searching for something specific.
Like other Nolo books, First-Time Landlord provides a step-by-step guide to the process of purchasing an investment property from start to finish. UNLIKE other Nolo books, First-Time Landlord does not provide a reference guide containing the various laws in the 50 different states that will impact you. Instead, you will frequently get phrases like, "check state law", that tend to get annoying. Even worse, they often don't provide suggestions as to which state department or authority we should talk to. Those blue pages in the phone book get larger every year and it's difficult to play the runaround game with state workers when we don't know where to begin. It's a significant omission and I hope it's updated in future editions, but it's my only gripe. Otherwise, any potential landlord will want to read this book first and I'm still giving them five stars for the info and layout. Nice job, Nolo.
I was disappointed that this book didn't mention anything specifically related to renting out a part of owner-occupied property and how that situation might be similar to or different from renting out an entire house. Also, the discussion on depreciation of investments and what impact that will have at the time of sale was not well explained.
This is a good book to read for some initial information, but you'll probably need to consult other sources as well.
What can be a better compliment than simply saying: I read it and I am making money following it's advice!
This guide is an excellent pre-rental guide for the prospective landlord with no experience. It provides guidance and explanations about the nuts and bolts of renting a house to clients including what to look for in background/credit reports and how to make legitimate claim deductions on your tax returns.
I liked the fact that the book provided a sample budget and gives some "real life" experience tips and tricks along the way. In short, it was a comprehensive guide but not overwhelming.
Most of the tips and guidance in the book can be applied to those persons considering apartment renting as well.
An often overlooked aspect of the responsibilities of a landlord is liability for injuries, crimes, etc. This aspect is covered in depth in Chapter 8. There is not much that is missing in this guide and as such I rate it at five stars.