Springfield Partners for Community Action

This work shop will provide you with the tools and 

the know how to successfully own a multi-family unit

examples

Do you live near your rental property?
While it is not imperative that you live in or  within close proximity to your rental property, it can make things much easier on you. There are times where you may need to show the property to potential residents, make sure your current residents are taking care of the place, or handle any repairs that need to be addressed. It will be much more convenient to handle all of these details if you live near the rental property.

(If that is not possible, you can always have the option of hiring a property manager to take care of these matters for you)

Do you have an understanding of the rental laws?
There are federal, state, and local laws in place that pertain to rental properties. To cover all of your bases, you need to educate yourself on these laws. These provisions cover matters such as handling security deposits, evicting residents, enforcing anti-discrimination practices, and providing reasonable accommodations if a resident becomes disabled. You may not ever find yourself in a situation where one of these laws needs to be followed, but it is important to know what is possible and how you should proceed.

Are you prepared to screen potential residents?
Buying a rental property is a significant investment, so you want to do your due diligence in finding the right residents. While it may be tempting to get someone in there quickly to start bringing in some income, this is not always the smartest decision. Before offering someone your rental property, you must screen your potential residents. This includes performing background checks, checking their credit scores, confirming job details with their employer, and calling former landlords.

Do you have the time to treat this like a business?
As a landlord, there is going to be a lot expected from you. This cannot be a side gig that you expect to spend a few hours on in the beginning, and then set it aside. You must treat this like a business. This includes collecting rent, inspecting the property regularly, handling any repairs, and anything else that may come up throughout the process. If you are interested in becoming a landlord but do not necessarily have a ton of time available, this can still be an option for you. With the right team of professionals helping you out, having a rental property can still be a successful venture.

Sign up and we will happy answer any questions concerns and prepare you to become a successful landlord and enjoy the benefit

Click on this link to register

https://forms.office.com/r/GzXXq4am8z

Dates: July 8th 5pm-730pm

ANY QUESTIONS CALL (413) 263-6500 EXT. 6614