Anyone who owns a property they’d rather not sell—whether from a move, an inheritance, or other circumstances—may wonder if he should become a landlord. The decision involves many considerations, and authors Attorney Janet Portman, Ilona Bray, J.D., and Marcia Stewart offer valuable guidance. Their book, First-Time Landlord: Your Guide to Renting Out a Single-Family Home, is a ready resource for everyday legal questions.
Written in a straightforward, accessible manner, First-Time Landlord helps new landlords ease into their role by avoiding costly mistakes and maximizing profits. Although directed specifically toward landlords of single-family homes, this resource has helpful tips for all rental unit owners. Chapters entitled “Will Landlording Bring You Money and Happiness?” “Preparing a Lease and Getting the Tenant Moved In” and “Renting Out a Room in Your Home” touch on many aspects of becoming a landlord. These aspects include legal obligations, tax deductions, handling repairs, estimating profits, and choosing good tenants.
Readers will benefit from this book’s real-life examples. Plus, the detailed index makes any topic easy to find. First-Time Landlord starts with essential considerations to help homeowners determine the best way to handle their property. Updated in 2020, the 5th Edition discusses recent, significant legal changes, including deductions from the Tax Cuts and Jobs Act that may benefit landlords. But despite the recent revision, modern landlords may find some suggestions outdated, such as advertising rental units in the local newspaper.
While experienced property investors may find this book rather basic, new or prospective landlords will likely find it very helpful. If you’re considering renting out a property or have lingering questions after getting started as a landlord, First-Time Landlord might be just the resource for you.
About Rentals America
Rentals America provides full-service property management for residential rental properties. Our team is completely dedicated to property management, and we’re here to help landlords navigate the rental market.
