renting out apartments?

pinx: renting out apartments?
im thinking about buying a few small apartments and renting them out

but can u tell me abit more about this please what insurance do you need

im very new to this all and trying to gather as much Information as possible about it

before i start really considering to do it or not

Answers and Views:

Answer by Dhirendra Thakur
rining out apartements is good plase and finaance

Answer by 2martins
There are entire books written on this, and you should read one or two before you decide. It can be a good way to make money, and it can also be a good way to go broke. If you can fix the maintenance issues that arise yourself, that will save yourself a lot of money. You can use the standard lease for your state and save yourself money that way also. You MUST do a background check on the people you are renting to and make sure they have jobs, etc. If you don’t check, you could easily rent to people that won’t pay. There are more people than you might think that don’t pay their rent!! Depending on the state the apartments are in, it can take MONTHS to get them out and cost you hundreds of dollars. And they may leave the place a mess, you have to change the locks, etc. I once had to rent a 30 yard dumpster and pay a small crew for a day to get the junk out of a house that a man rented from me. He wasn’t supposed to smoke or have pets. Guess what?! He was supposed to cut the yard. Guess what?! I found him on craigslist and didn’t do all the due diligence I should have done.

Answer by Janice 10
Being a landlord has it advantages and disadvantages. Yes, you can buy apartments to rent out. You would need to cover the cost of buying the apartments and any repairs and have homeowners insurance, and be available 24/7 in case any repairs must be done. Then find good tenants that pay there rent on time and keep the apartments in good condition.