Real estate investors have quite a to-do list when it comes to minimizing risk for their investment property portfolio. You must consider things like adequate insurance coverage, estimated home maintenance costs, potential tax implications, and how to find and keep the right tenants for your rental properties.
While finding a tenant may be easy for some investors, particularly if you're in a popular location, finding the right tenant is not always so simple. Unfortunately, if you don't find the right tenants, it could cost you substantially. Even if you have potential renters waiting in line to take a peek at your freshly painted rental, being picky pays off. From unpaid rent, expensive maintenance repairs, and the legal fees associated with an eviction, settling on the wrong tenant could cost a landlord big.