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Updated almost 3 years ago,
New landlord requesting tips on rental - laundry, pets, lease
Hello,
I am a new landlord of an owner occupied small multifamily property and was hoping to get some advice from more experienced investor/landlords.
- I will be putting laundry in-unit, but not sure what to look for. Which brands do you prefer for low maintenance and reliability? Some people say LG is reliable, some say it's hard to repair and should go with Whirlpool/GE. Should I go with top loading verses side loading washers? I can't imagine the look/aesthetic of the laundry machines really matter especially when it'll be in a laundry room, what do you think?
- What are your experiences with allowing pets in rental units? As a new landlord and an occupant on the first floor unit, I'm thinking about just not allowing pets, but I understand (as a pet owner) that the demand will be much higher if I allow them. Also, does it affect your homeowner insurance?
- When you started out, how did you draft up rental leases? What are some uncommon items for lease that I should think about adding in (i.e. I heard of people adding all items that tenants are responsible for even as small items as vacuuming common areas).
- Do you have any other tips for a new landlord? Maybe something that that you found surprising after your first rental unit?