The Worst Landlording Advice Online: Share Your Favorites

[Joshua Dorkin]

In my years running BiggerPockets, I've seen some really bad advice given out to potential landlords. Most of it comes from people who have never managed a property or from real estate agents who are looking to appeal to newb investors, but who have also never run their own rental property.

With that in mind, I came across such a post on a member blog here on BP: Practical Real Estate Tips (share your thoughts below the post)

What I'd like to do is have this thread be a place where we share any articles that we find online that offers bad advice for landlords.

Please be sure to link to the article and be sure to explain why you think the advice stinks.

I also encourage anyone reading these articles to be sure to let the authors know why the info they are providing is dangerous.

We as a community can expose this information and do our best to correct it.

So . . . share your thoughts on the article I mentioned before and be sure to start posting more junk advice wherever you find it.

[Account Closed]

Came across this article

http://home-owner-tips.suite101.com/article.cfm/renting-basics-tips-and-tricks-to-become-an-efficient-landlord

My biggest concern with this author's advice is that they downplay the importance of a good contract. New landlords are often unaware of some of the risks they face. A general rental agreement may not address specific state requirements, may contain illegal sections that are not enforceable for the particular state, may not clearly state how or when the security deposit will be refunded and other issues.

I make sure that my lease agreement clearly states what the rules are.

The author also seems to suggest that tenants should be able to add their own clauses to the contract. I would certainly not advocate this.

The rental agreement is a very important contract and shouldn't be taken lightly.