Investing money on an apartment

[Alexandoy]

Our plan for retirement is to have an apartment to be rented out. It would be great if we can build a 4-door apartment so that the rental will be substantial and can be our livelihood in our old age. The only issue that I am scared of is a trouble-maker tenant. What if the tenant would not pay his rent? We have a law that you cannot just evict a tenant from a rented apartment if he doesn't pay rent.

 

[nangk08]

I already own one apartment besides the ones where I live. I have rented it out for the last 8 years and except for one renter the very first years, rest of people who lived in it have been really good and responsible. They pay rent on time and generally keep the place very good and tidy. Isn't there any kind of law or regulation which ensures that you sign an agreement with the renter? That way, in case of problems, you can take legal action against them if they fail to pay rent.

 

[Henrywrites]

I am working seriously on having an apartment. It is definitely going to be what will make me so happy. If I end up buying one this year, I will be very happy that I did.