If you're a Michigan adult looking for extra money or to pay off a mortgage, renting out an owned property is a great way to achieve these goals. But it's understandable to have questions about becoming a landlord. A common concern landlords face is how much money to...
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Landlording for beginners
As a Michigan homeowner, you may be considering renting out a house you own to supplement your income. But you should be aware not only of the upside, but also the responsibilities and potential downsides. Being a landlord can be a wonderful way to add another income...
Do you have what it takes to be a landlord?
If you're a real estate investor who wants to save money by managing your own Michigan rental properties, that is an achievable goal. However, there are some downsides to being a landlord that you should consider before you start assuming that responsibility. Here are...
The pros and cons of REITs vs. being a landlord
Investors in Michigan and around the country seeking opportunities in the commercial real estate sector have traditionally chosen to buy buildings and then rent out the space, but real estate investment trusts have become more popular in recent years because they...
Mistakes to avoid if you’re a landlord in Michigan
Being a landlord in Michigan can be a rewarding experience, but it also comes with its fair share of challenges. Whether you're a new landlord or an experienced one, it's crucial to avoid common mistakes that can lead to financial and legal issues down the road....
What benefits do leases offer landlords and tenants?
Leases are legal agreements between landlords and tenants that outline the terms of a rental arrangement. Leases are an important tool for both landlords and tenants, as they provide several benefits for both parties. Benefits for landlords Different types of leases...
Illegal landlord actions to avoid in Michigan
Being a landlord requires you to always remain aware of potential laws protecting tenants. While many of these laws strive to protect both you and renters, violating them may affect you far worse than your tenants. Strive to avoid breaking these landlord laws in...
What are a few things a landlord is not permitted to do?
Many Michigan residents rent houses or apartments. Some can’t afford to own, so renting is a convenient and cheaper option. However, it’s helpful to know that there are certain things your landlord is not allowed to do by law. Enter without proper notice If your...
Becoming a landlord in Michigan may be or may not be worth it
If you have some extra cash that you're looking to invest or have extra space in your Michigan home, becoming a landlord may seem like a worthwhile venture. But as with all other careers, it's not without its challenges. The benefits of becoming a landlord The real...
Standard responsibilities of a landlord
Renting a home in Michigan to a tenant can often bring in more income for your family. However, there are a few obligations that you have as a landlord to make the living environment as comfortable as possible for your tenants. Deposits While it is your right to...