1st time owner and landlord

[Elana R.]

Hello. I just purchased my first rental property (a condo) and this will also be my first time being a landlord - ever. To save money I am bypassing hiring a property manager initially as I need to recoup many upfront expenses. So I’m going for it! Fully renovated, modern turn-key property. I do not anticipate maintenance issues. I think it should be fairly easy to manage.

I am currently going through the screening process with prospective tenants. Is it OK that I let them know that I’m both the owner and the property manager? Or should I just let them know I’m the property manager and pretend like I’m not the owner?

Are there Issues with them knowing that I’m also the owner? Does it matter?

Thank you!

Elana

[Latimer Luis]

@Nathan G. Definitely disclose that you own the property and try not to smile too much when meeting prospective tenants. They’ll walk over you if they think you’re too nice. Be honest, firm and be sure to screen your tenants thoroughly. Congrats and good luck.

I would hire a PM if you think you cant handle saying no to a single mom with 2 kids and sob story. That was the toughest thing to do in my own personal experience.