Landlording: A Handymanual for Scrupulous Landlords and Landladies Who Do It Themselves [Paperback]

I originally borrowed this book from the library, but it was SO helpful that I decided to buy a copy. I will review the book, and then I will post the book's Preface to the Eleventh Edition, in case anyone wants to know what is new.

I'm pretty new to managing rental properties, and this book has been extremely useful. The author is very straightforward, and a little humorous.

This book covers all of the important aspects of being a landlord; there are chapters on: basic landlording stuff, taking over as the new owner, advertising, getting good tenants, choosing a rental agreement, rents, keeping good tenants, helping tenants move out, dealing wit problem tenants, handling problems, renting to lodgers, legal matters, decisions (should you do it yourself/rent it furnished/rent to roommates/allow waterbeds,/allow pets, etc, etc), hiring help, Section 8 Housing, increasing income & lowering expenses, insurance, safety, keeping records, taxes, computers, "potpourri" (divorce or separation, death of a tenant, lease termination, house rules, etc, etc).

The book includes MANY forms, a ton of (detailed) "sources and resources" listed, and even a bunch of (cartoon) friendly rent reminders (although the style is outdated).

This book is thick with useful information. It has helped me feel much more confident in what I'm doing, and I feel less overwhelmed. The tone of the writing makes you feel like you already "fit in" with other landlords. Sometimes I feel like I am dealing with something totally new (like, OH NO, my tenant's rent has not arrived, but maybe it really DID get lost in the mail...?) and then I'll read from Landlording, and I feel like I actually knew the answer all along.

I haven't finished reading the whole book yet, but I have read probably 2/3 of it. The chapter organization and index make Landlording the sort of reference book you can go to when you have questions about specific things. So far, I've found that all topics are covered very thoroughly--the author discusses different options for things, and pros and cons of each option, instead of just telling you exactly what to do for everything.

I have not decided to follow all of the author's suggestions; for instance, the author suggests itemizing rents, and while it seems like there are some good reasons for doing that, I don't feel like it is worth it. Maybe it would be more worthwhile if I had a big apartment complex.

In case anyone is wondering what the difference is between this edition and previous editions, here is the "Preface to the Eleventh Edition (2010)" from page 8:
---
As the internet becomes increasingly important to the way we live and do business, we landlords must embrace it or suffer the consequences. Neglect the internet, and you'll be paying more in expenses and having more vacancies, both of which affect a rental property's bottom line and its market value.

This new edition builds upon the information about the internet included in previous editions of Landlording and should help you take advantage of what's now available to you through the internet.

Also, you'll find information here about renting to lodgers, something becoming all the more common nowadays as the housing market undergoes an unwonted shakeup. People who never thought they would become landlords are becoming landlords as they rent out a room or two in their own homes to complete strangers who never thought they would become lodgers. These newbie landlords need a somewhat different landlording roadmap to follow to help them negotiate their way along the best, most trouble-free routes to success. Here's that roadmap.
----

Initially, I got this book for information on screening tenants and filling out rental agreements, but through reading I've discovered a lot of crucial information I hadn't previously considered. This is the perfect book for anybody considering purchasing rental property or who is actively in the business. It is written simply in a very readable prose style explaining carefully all the advantages and disadvantages of owning and managing rental property. No legalese, just good writing, sound advice, and indispensable rental forms for all situations.

I gave away this book when I got out of the rental business over 18 years ago.However this economy now gets me back into renting my previous home instead of selling, and managing another purchased rental. I was so happy when I found the updated version on Amazon. GREAT book and it has many forms with clauses that we don't think of including. Renters still try to get over on us, but this book makes you aware of the tricks to protect yourself and your property. 5*