Determine how comfortable you are with potentially locking up assets for a long time and how much risk you can tolerate.Market Conditions: The situation of the real estate market might change, and this could have an impact on your choice.

They can't pay the rent, but they're still locked into a long term lease.

We have been keeping our eyes and ears out there for the past year.

Don't do 'self-help' eviction--recently an owner was arrested for changing the locks on their property that was illegally occupied by a squatter!

It is quite a bit down that and may lock you up a bit in the short term.

My Colorado peeps here can pretty easily lock down location, lol (clue: skiing here isn't the greatest).

Or like we had a cream we had to rub in our cat's ear for heart failure that we would get from a compounding pharmacy.  

This is a great website that should definitely be utilized.Electronic Locks / Lockbox - Day 1, I have a handyman set up electronic locks on the front and back of the property and set up a lockbox on the premises for contractors.Welcome Letter - Day 1, I provide the welcome letter going over the new ownership and any other applicable information.These should be a good starting point. 

I think for the average 1 rental owner, it's simply too much fuss, and the opportunity cost of that time and energy is either relaxing, or doing other things to maximize bookings like interior design.I think the industry in general suffers from bombarding new hosts with 10,000 things to do in month 1 (OTA, direct booking sites, linking calendars, specific smart locks, etc.) when in reality most owners should probably list on the most relevant platform for their area in year 1, develop a rhythm and learn a few basics, and then start looking into improvements from there.Certainly with multiple properties it starts to become a more compelling argument.  

A woman who inherited a home in New York City full of people squatting illegally was arrested and led away in handcuffs after she changed the locks.

Adele Andaloro, 47, was placed under arrest at her $1 million hom...