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Landlord concessions have also somewhat increased. Days on the market are lengthening, and home inspections are becoming the norm again. Residential rental markets weakened further, though the high end of the market has shown some resilience. However, housing affordability worsened.
How about access to roads and highways or specific modes of transportation? Ask your current landlord. If you’re currently renting warehouse space and looking for additional units elsewhere or simply seeking an upgrade, speak with your current landlord, first. What landlord will turn down money in advance?
Is there access to public transportation? With HVAC, be sure to negotiate with the landlord over who will pay for essential maintenance and who will pay for major repairs and replacement. Don’t assume the landlord will assume this responsibility outright. Read the fine print. Also, will the trucks be driving into the warehouse?
Decide If You Have the Ability and Funds to Be A Landlord. Being a landlord can be a rewarding and lucrative job, but there are useful (and sometimes necessary) abilities you need. Now that you know your options, what you want as a landlord, and what you need to get started, follow these steps to get your investment property moving.
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