I believe becoming and being a professional landlord is more than about portfolio size or whether it is a full time job, it is about mindset and acceptance of responsibility.
➕ Mindset: This is critical. You need to change the way you view being a landlord. Do it as well as you can. This goes beyond but very much includes staying ahead of all regulations, instances, licenses and every area of compliance. It is also more than properly cash forecasting and managing it as a business – it takes more money than it gives some times! It is about stepping up in all areas and all that comes with that. It is a cat flap – once you go through you cannot go back! Do it willingly and celebrate it as a vocation – do it well, enjoy it and allow others to make money and have enjoyment from it – and that starts with your residents!
➕ Responsibility: There is a huge social and moral responsibility that comes with being a landlord. Peoples homes and lives are in your hands. Do not take that lightly and do it well! Respect people, care for them, go above and beyond and accept their right to privacy and quiet enjoyment. Give value and really care!
– Andy Babbayan