With rents rising as demand grows, more and more people are taking the plunge and becoming landlords. In fact, a recent Bankrate.com report found that 22 percent of adults have invested in some way in real estate — a third of all those surveyed.
For some, it’s a desire to snag a great deal and hold on to it as an investment in the future. For some, it’s a reluctance to sell their former abode — in 2014, a Redfin survey revealed that almost 40 percent of those surveyed were interested in holding on to their old home when they bought a new one.
But almost every landlord we spoke to said it’s not exactly a path to easy money — and they were ready to share some knowledge with both renters and prospective landlords.
We posted a simple query to landlords on our Facebook page last Friday, and the conversation was robust. We also reached out to other landlords for more responses.
The question? “What are some things you wish more tenants knew about renting?”
Responses (edited for clarity and brevity) are below. (more…)