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Guest Article by Katie Conroy

If you’re attracted to the notion of bringing in some additional income, owning a rental property might just be for you. If you’re new to it, however, purchasing and managing a property can be overwhelming. 

From choosing the right property to figuring out financing, from maintaining the property to dealing with tenants or guests, it’s essential to plan and prepare before you jump into the process. That’s why Thrive Realty Co. has put together this list of resources to help you get going in the right direction:

Making the Purchase  

Working With Thrive Realty Co. Can Make Finding a Property Less Stressful
Key Factors to Finding the Perfect Rental Property Neighborhood
The 6 Hidden Costs of Owning Rental Property
What Newbies Should Know About Financing Investment Properties (Versus Homes)
Down Payment Requirements for Rental Property: What You Should to Know

Being a Business Owner & Landlord

Know What It Takes to Establish a Michigan LLC
Tax Deductions for Rental Property Owners
How to Get Your Property Rent Ready
How to Figure out How Much You Should Charge for Rent
Six Types of Problem Tenants – and How to Deal With Them

Long-Term Rental Specifics 

What is a Landlord Responsible For?
Tips For Keeping Your Tenants Happy
Home Staging Tips For Your Long-term Rental Property

Short-Term Rental Specifics  

Benefits of Hiring a Vacation Rental Management Company 
The Beginner’s Guide to Furnishing a Vacation Rental
8 Vacation Rental Amenities Guests Are Willing to Pay Extra For

Being prepared when you buy your first rental property will increase your chances of being successful and help you feel less overwhelmed. Whether you’re going for a long-term or short-term property, be sure to research and learn all you can about purchasing and managing a property. Before long, you might just be building your empire of rental properties!