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As a real estate investor, it’s imperative that you are informed about what your rights are in the states where you own properties. Before purchasing a rental property, you should research the laws on lease agreements, security deposits, and evictions.
On this episode of Investing in Real Estate, I’m sharing the five most landlord friendly states. I’ll discuss each state in detail, including what traits make them favorable for real estate investors. The implications of these laws can be significant; don’t miss this episode of Investing in Real Estate!
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5) When it comes to renting, Florida has lax legislation. In fact, there is no law requiring you to have a written lease agreement! In the Sunshine State, you can quickly evict a tenant, and there are very few laws that dictate what you can and cannot do as a landlord.
4) Arizona has laws that are favorable for landlords. For instance, if a tenant lies on their lease, they can immediately be removed from the property. Eviction happens very quickly in the state.
3) Although Colorado can be an expensive state to invest in, their laws favor landlords. If your tenant isn’t paying rent, the state of Colorado is quick to kick them to the curb!
2) If you’re familiar with our podcast, you’ll know that Indiana is one of my favorite states to invest in! Evictions happen very quickly, and the judges have zero tolerance for renters who don’t pay.
1) Don’t mess with Texas! In the Lonestar State, the eviction process is efficient. Landlords are also protected if a tenant decides to sue.
On today’s show, I’ll speak in depth about each of these states, and the criteria for a landlord friendly state. I’ll also share other metrics you should consider before purchasing a rental property in any state. Join me for episode 108 of Investing in Real Estate!
If you’re ready to begin building a passive income through rental real estate, book a FREE call with my team today. We’re ready to talk about your goals and want to help you learn more about earning legacy wealth for you and your family.
On this episode you’ll learn:
How long should you expect an eviction to take?
Which states are unfavorable for landlords?
What are non-compliance laws for tenants?
And much more!