Owning a St. Louis rental property is smart from an investment standpoint. You’ll earn some consistent rental income and allow your property to increase in value over the years while your tenants pay down the mortgage and contribute to expenses.
Smart home devices are gaining popularity in homes across the country. Tenants may find this type of technology to be an attractive feature in a rental home. If you’re thinking about installing smart home devices and similar systems in your St. Louis rental property, there are a few things to consider.
To find a St. Louis tenant quickly, you’ll need a strategic marketing plan and an automated tenant screening system that will allow you to identify and place a good resident in a matter of weeks. Long vacancy times will drain your ROI and stall your rental income. Acting quickly is important, but you don’t want to take any shortcuts.
SMART goals are pretty much the standard when it comes to documenting what you want to achieve in your business and/or personal life. The acronym stands for Specific, Measurable, Attainable, Relevant, and Timely. If you’re looking for a way to set achievable and actionable goals for your St. Louis rental properties, this is a good place to start.
A lease agreement is legally binding, requiring both the landlord and the tenant to follow the terms of the contract. Typically, the length of a lease is one year. Tenants promise to live in the property and pay the rent for that full year, and landlords promise to provide a habitable, well-maintained home at a consistent rental rate for that period.