Eaton Realty, Inc.
House with Coins

Are you ready to become a landlord?

For many, homeownership is seen as the ultimate success, and owning investment property the path to building wealth for the future. Before you decide to take the plunge into the world of rental properties, it's important to take a close look at your current situation and come up with a realistic plan.

The first step, and one of the most important, is to start thinking about your home as a business. This can be especially hard for people who have lived in the home.
 

From the moment you decide to become a landlord, you will need to emotionally distance yourself from the property in order to make smart financial decisions.

Speaking of finances, there's a reason investment properties play a role in wealth management. The tax incentives and passive income can set you up for long-term financial success. Mortgage interest, repair costs, and other fees can all be deducted from your yearly taxes while you continue to grow the equity in your home. A smart landlord will set up a reserve account to handle any expenses that may arise, like repairs and vacancy time.

How involved are you willing to be? It's not really passive income if you are having to deal with a plumbing leak on the weekend or market your property for a new tenant. This is where hiring a professional property manager comes in. A full-service property manager will supervise every aspect of the rental process - finding new tenants, staying current on the law, and handling late-night service requests. A good property management company will manage your asset effectively and reduce your potential risks.

If you decide to forgo hiring a professional and make a go of it yourself, having a strong understanding of the myriad details that go into the day-to-day management of investment properties will be necessary to keep you financially sane and out of legal hot water. Know your options, ask questions, and do your research before deciding your level of involvement.

Ready to rent your home? Read this article next.

For Rent Sign

Diversifying your investment portfolio with rental properties can be a smart financial move when planning for the future and, when done right, can significantly increase your net worth. Still on the fence about becoming a landlord? Contact us today and let us help determine the right path for you!

Jessica Robinson

Jessica Robinson

Jessica is the Marketing Coordinator at Eaton Realty. Prior to joining the Eaton team, Jessica held previous roles managing properties in North Carolina and working as a licensed realtor in California. With over a decade of real estate experience, Jessica shares her real estate and property management knowledge across the Eaton blog, social channels, and newsletter. You can find her on LinkedIn. 

Questions? Speak With A Real Estate Expert

Services We Offer

Home Buying
Home Renting
Home Selling
Property Management

ARTICLES BY CATEGORY

Buying
Community News
Home Improvement
Investing
Life Hacks
Property Management
Renting
Selling

FEATURED ARTICLES

tampa property management

Common Property Management Mistakes

Read full article
Plant City

The Pros & Cons Of Living In Plant City, FL

Read full article
How Often Should You Paint Your Home's Exterior?

How Often Should You Paint The Exterior Of Your House In Florida?

Read full article
Florida Landlord Insurance

How Much Does Landlord Insurance Cost In Florida?

Read full article
Eaton Realty, Inc.

Eaton Realty specializes in the South-East Hillsborough County region of Tampa Bay, specifically FishHawk Ranch.

In addition to quickly selling listings and representing home buyers, Eaton Realty provides full-service property management for investment clients.

Quick Links


    Home
    Buy
    Sell
    Rent
    Property Management
    Financing
    About Us
    Contact Us

Contact Us


  • Call: 813-672-8022
  • [email protected]
  • 14012 Spector Road

  • Lithia, FL 33547-4327

All Content © 2002 - 2025 Eaton Realty, LLC All Rights Reserved. Terms of Use / Privacy

Follow Eaton Realty on FacebookConnect with Eaton Realty on TwitterFollow Eaton Realty on PinterestConnect Eaton Realty on LinkedIn