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What makes a great city for first-time landlords? Affordability matters for all rental investors, but it’s especially crucial to most first-time investors. Landlord-tenant regulation also matters. Owner-friendly laws make it far easier for landlords to enforce their lease contracts and collect revenue for their business.
Which raises another component of a great city for rental investors: yields. Landlords want to earn cash flow at the end of the year, after all. To keep the numbers simple when comparing cities, many investors use the gross rent multiplier, or GRM, which is the median property price divided by a year’s worth of median rents…