Important tips for landlords

“Owning rental property is not as simple as handing over the keys to a tenant and sitting back as the money flows in,” said Russ Wiles in The Arizona Republic. Yes, rental properties can be lucrative: The average annual return on single-family rentals is 9 percent, according to a UCLA study. But be prepared to keep investing. “Properties don’t always pay for themselves,” and you’ll need some “financial flexibility” to cover maintenance and repairs.