Contrary to popular opinion, a landlord’s roles and responsibilities comprise of much more than just collecting rent. On an ongoing basis, landlords need to stay on top of the current landlord-tenant laws - every municipality, state, and country has different laws regarding the landlord/tenant relationship. Additionally, landlords are often sales people, mediators, handymen/women, and negotiators.

Being a landlord can be a complicated and requires relationship management above all else. The following is a list of some of a landlord’s general duties and tasks. Of course, this is a simplified list, but should give a wholistic view of the entrepreneurial nature of the position.

1. Finding a tenant

Here are the main steps in getting a quality tenant into your investment property.

a. Get the property rent ready – this could include making sure the property is up to the local building codes, paint touch ups, etc.

b. Market the property – nowadays online...