Expert renting tips, real-life stories & valuable advice. Join Michelle & Sitara for an unforgettable journey!
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So you want to be a landlord?
Whether you're a homeowner contemplating the exciting path of becoming a landlord or you've recently acquired an investment property, this episode is tailor-made for you!
We're covering a broad spectrum of topics that include:
- Benefits and challenges of being a landlord
- Generating passive income and building long-term wealth
- Leveraging property equity for further investments
- Tenant placement and management strategies
- The nitty-gritty of property maintenance
- Strategic pricing and timing considerations
- Effective marketing techniques for property rental
- The tenant screening process and application review
- Essential documents and agreements
- Tenant management and dispute resolution
- Handling property maintenance, from the expected to the unexpected
Where Do You Start?
Navigating the world of landlordship requires a roadmap. We're laying out the foundation, starting with tenant placement and management:
- Realtor vs. DIY approach: We weigh the pros and cons
- Pricing your property right for the market
- Crafting a powerful marketing strategy
- Managing showings effectively and efficiently
- Guiding potential tenants through the application process
- Establishing solid tenant-landlord relationships
- Collecting deposits and signing lease agreements
Tenant Management: From Notices to By-Laws
Being a landlord isn't just about property ownership—it's about people management too. Discover how to handle various scenarios, including:
- Issuing notices and resolving conflicts
- Dealing with non-payment of rent and maintenance issues
- Navigating noise complaints and tenant responsibilities
- Understanding condo by-laws and city regulations
Property Maintenance: From Lawncare to Liability
Maintenance is the backbone of successful property management.
We'll delve into:
- Distinguishing between fixed and unexpected expenses
- Safeguarding tenant safety and avoiding liability
- Establishing responsibilities for property upkeep
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Tune In and Connect
Thanks for being a part of this enlightening episode! We've scratched the surface on the exciting journey of becoming a landlord. Passive income and wealth-building opportunities await, but remember, challenges like maintenance and tenant management require careful consideration.
For personalized advice and support, reach out to Michelle for expert guidance on property leasing in your area. If you're seeking marketing, social media, or home staging tips, Sitara is here to help!
Xo Michelle & Sitara
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These resources will provide you with valuable information and support as you navigate the world of renting.
Michelle La
Facebook: facebook.com/MichelleHelenLa/
Insta: @michellehelenla
Sitara Khan
Web: social-right.com
Insta: @social.right
- Landlord and Tenant Board https://tribunalsontario.ca/ltb/
- Residential Tenancies Act https://www.ontario.ca/laws/statute/06r17
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In this episode, you’ll learn:
0:00 – Intro
0:05 – About the podcast and the hosts, Michelle and Sitara
1:40 – Landlord challenges
2:10 – DIY vs hiring a leasing professional
3:23 – Steps to renting out your property
5:10 – Marketing tips
9:07 – How to manage showings
11:55 – Marketing analytics
13:07 – What is a qualified lead?
13:58 – Someone wants to rent your place, next steps
20:10 – Tenant management
21:00 – Common disputes
24:28 – Healthy boundaries
26:55 – Condo and city by-laws
28:08 – Property maintenance
32:38 – Lawncare and snow removal
34:00 – Recap
36:00 – End
Disclaimer
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