One of the biggest mistakes first-time landlords make? Treating it like a charity.
It’s not. It’s a business. A business must be profitable, or it won’t last. Tenants are like employees, you have a contract with them.
- If they don’t hold up their end (like not paying rent), they’re “fired.”
- If they do, life is great.
You can run it like a business and still humanize the experience. The two aren’t opposites.