Consider these dos and don'ts before making the leap into rental property ownership. : While there are financial benefits to investing in rental property, there are risks —tenants who don't pay their rent and the headache of being a landlord — as well. You'll need to weigh taxes, real estate appreciation, mortgage and maintenance costs and your desire to be a landlord when deciding if owning a rental is a wise financial move. Your rental property is a business that requires time and energy. You'll need to keep up-to-date on rental laws and are legally required to maintain a safe and habitable property for your tenants.