Landlording is a Business not a Hobby

Even if you only have one rental unit, landlording should not be treated as a hobby. It is a business and we need to do all the things we should by treating it as a business.  That means keeping good records for tax and planning purposes. We must also take care of problems that arise with tenants and not ignore or delay fixing them. Being a good landlord can mean the difference between earning a good living and going broke. We always try to keep really good relations with our tenants. They in turn want to do what they can for us. It’s just good business.