A lot of people are handy working around the house. Spackling, painting and landscaping are all helpful things to know. But when you own a rental property, you must be prepared for a lot of different things to require your attention. Either you will have to fix them yourself, or get someone to fix them for you. Either way, if something breaks, you need to move fast in making repairs or your tenants will hound you. They may even begin to ask for money off the rent because a feature of the property was not available to them for a period of time. Consider all of the things you may need to repair, and develop a list of qualified people that can help you if needed. Talk with friends and neighbors about qualified contracters that you can trust. Keep your eye open to see who other owners in the area are using.

The main thing to know is that things will go wrong that you won't expect. Radiators leak, a furnace can break, pipes leak but you don't know from where. Toilets get clogged, banisters break, ovens don't work, tiles crack. These things do happen and should be fixed right away. Keep in mind too that a well maintained house will increase in value much more than one that is not cared for.

While this may seem intimidating, many of these repairs are simple once you know how to make them. Invest in a good home repair book or visit some of the home repair web sites listed on this site. Don't be afraid to give a try to some of the more simple repairs. Most landlords who make their own repairs learned by doing it themselves.