Landlord Friendly States – What to Look For

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With appreciating values and a steady stream of income, purchasing real estate continues to be the ideal investment for growing wealth. Investing in landlord-friendly states should be a major consideration for investors searching for suitable properties. The following are a few characteristics outlined in landlord and tenant law that would provide landlords with enough control to ensure that they can protect their properties and income potential.

Characteristics of Landlord Friendly States

Landlords need a fair and fast eviction process. Delayed evictions can cause landlords to continuously lose money and experience property damage until unruly tenants are forced out. 

Evictions

States with higher tax rates will require landlords to pay more property taxes. Look for states with property tax rates at or below the national average.

Property Taxes

The intention is to prevent exorbitant rent that could leave tenants without a home, landlords should have enough room to recover inflation and cost increases for property maintenance such as utilities and taxes.

Rent Control

Landlords need security deposits if a tenant vacates the rental property without paying rent owing, the rental unit has property damage, or other tenant issues that cause landlords financial harm.

Security Deposits

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