A new term hit our popular culture a few years ago…the  Accidental Landlord. Somebody decided the word “accidental” was easier to use than “I can’t sell my home so I decided to rent it out” landlord.  Calling these owners an accidental landlord has stuck.  I don’t like the term.  An owner who rents their home has made the decision that holding the property is the best strategy.  There is no accident to it.

Accidental landlords compose an increasing number of rental owners.  It is wise to stop thinking the decision was an accident.  A better approach is to change the mindset about the investment  Owning a rental property offers tremendous long-term opportunities.

The following are tips from an actual owner who figured out how to be a successful Accidental Landlord.