In the New Article, Deloney Shared Common Mistakes that All Landlords Should Try to Avoid
LOS ANGELES, CA / ACCESSWIRE / August 21, 2020 / Winston Deloney, a real estate investor and entrepreneur based in Chicago, Illinois, is pleased to announce that he was recently featured in an article on the Space Coast Daily website.
To read the new article, which is titled "Real Estate Expert Winston Deloney Shares Common Mistakes All Landlords Should Avoid" in its entirety, please check out https://spacecoastdaily.com/2020/08/real-estate-expert-winston-deloney-shares-common-mistakes-all-landlords-should-avoid/.
As Deloney told the author of the article, real estate investors who own rental properties are also typically the landlord. For people who are new to the world of real estate investing, this can be a challenging time as they learn to navigate the ins and outs of their role as landlord.
In order to help new landlords, as well as established ones who are facing issues with their tenants, Deloney was happy to share some common mistakes that all landlords should avoid.
For example, Deloney said that not being strict with tenant screenings is a common problem, especially with newbies to the landlord role. In order to quickly rent out housing, it may be tempting to fill the units with anyone who walks in the door.
As Deloney noted, acting in haste can actually end up costing landlords a lot of money in the long run.
"Taking the time and effort to carefully screen your tenants allows you to weed through ones who may not have stable jobs, adequate income, or who may have a history of things like property damage," he said.
Another common issue that can come back to haunt new landlords is not being knowledgeable about rental, tenant and landlord laws. While it may seem like a tall order to be up on these types of laws, Deloney said studying them will help landlords to know when they can legally do, what their tenants can legally do and what protocols must be followed.
Trying to avoid hiring professionals to complete needed tasks on the property is another common mistake that many landlords make, Deloney said. Even those who are great at DIY projects can fall behind in their work, and the property can suffer as a result.
"Landlords may be hesitant to want to call in professionals, because they think of the cost. But as problems escalate without being properly solved, they'll become more and more costly to fix," he said in the article.
About Winston Deloney:
Winston Deloney is a Chicago, IL based real estate investor, passionate entrepreneur, and a self-proclaimed foodie. To learn more, follow Winston Deloney on his Facebook page here: https://www.facebook.com/TheWinstonDeloney/.
SOURCE: Winston Deloney