Accidental landlords are becoming a concern in Brainerd.
Elizabeth Harris, crime prevention specialist with the Brainerd Police Department, said more people are becoming rental property owners through inheriting houses, finding good deals on houses, being unable to sell their homes, relocating to another state but keeping a house and people renting rooms for extra income.
The concern is lack of experience for these property owners, Harris said.
"If it isn't run like a tight business it can really bring about a lot of problems," Harris said. "Very serious problems, not just nickel-and-dime type things."
"If it isn't run like a tight business it can really bring about a lot of problems," Harris said. "Very serious problems, not just nickel-and-dime type things."
To avoid legal problems, rental property owners need a good lease. They also need to know fair housing laws, state and federal rental laws, the eviction process, tax laws, city codes and ordinances, license requirements and fees and insurance requirements, Harris said.
Other issues include how to deal with problem tenants, neighbor complaints and unexpected issues.
"I've seen where others have lost thousands because of lack of expertise in the field," Harris said. "It's a complicated business to be in."
To address the issue, Harris said she is looking for new rental property owners who might be interested in attending a training session. Those interested can call Harris at the Brainerd Police Department at 829-2805.
Harris also suggested concerned new rental property owners consider hiring a rental property manager.
MATT ERICKSON may be reached at matt.erickson@brainerddispatch.com or 855-5857.
To Subscribe to the Brainerd Dispatch, Click Here.
Note: Comments are not edited and don't represent the views of The Brainerd Dispatch. Please read our posting rules in the terms of service policy. To report a post that may be inappropriate, click the triangle alert icon.
Top Commented Articles
