Hey, Landlords! Here is a quick tenant screening tip.
Of course, get references.
Yeah, you can talk to the current landlord, but continue reading »
Every state is different, and you should check the laws of your state.
However, here are a few general guidelines.
The tenant has a right to privacy. A landlord CANNOT enter the property, unless
Essentially, as a landlord, it is best to take the approach that many people are always watching you. If you aren’t sure, then assume that you need permission from the tenant, first.
There are lots of great things about having a pet. They usually make nice playmates. Often, they’re really loyal, even if your coworkers or some other family members aren’t.
Something that’s almost guaranteed to happen, but is not such a glamorous part of owning a pet is when they relieve themselves on your new carpet, furniture, etc.
What’s worse, having to clean up the mess, or seeing and smelling the stains afterward? continue reading »
Is there ever a time when debt can be a good thing?
We all hear that we should get rid of debt. Cut up all of your credit cards. Pay cash for everything. If you can’t afford it, don’t buy it.
Honestly, these are good statements–usually. continue reading »
If you mention the word, “Facebook” within a conversation, what are the chances that nobody will respond?
In fact, if you insert yourself into a crowd of people (who are strangers) and ask, “I’ve heard some things about Facebook. What do you guys think of it?” you will not be greeted with absolutely no response. (I’m assuming that this group of people understands the language that you speak, by the way.)
Facebook seems to be a polarizing topic. There does not seem to be a whole lot of lukewarm feelings about it. People either LOVE it, or they HATE it.
Why do people LOVE it? continue reading »
Most experienced landlords make background checks, including credit checks.
What if you just went through a tough period? You lost your job, went through a divorce, or something else that just KILLED your credit?
So do you go homeless?
You can, but that’s not what I suggest. So what do you do? continue reading »
As a landlord, why should you care about having a good relationship with your tenant? Should you be friends with your tenant?
No, you probably should not be friends with your tenant. I’m not saying that it’s impossible for it to work, but the statistics do not indicate this is a good idea. (How do you handle it if your friend can’t pay the rent? Tough call!)
However, if you do not have a good relationship with your tenant, bad things could happen to your place. One rule of management, in general, is to provide a climate where people not only tell you GOOD news, but they are willing to tell you BAD news, too. Nobody likes hearing bad news, but the earlier you hear it, the easier it is to address the problem usually. If there isn’t any relationship, your tenant will treat you like a company and not really care about what the “company” owns—your property.
So what are some ways to improve our relationships with our tenants WITHOUT sacrificing too much ourselves? continue reading »
Landlords and Sellers, are you having trouble selling or renting out your property?
There could be several reasons, including asking for more money than your competition.
However, assuming that it’s priced competitively, a lot of sellers and landlords are having trouble getting people to sign on that dotted line.
What can you do? continue reading »
Hey, landlords! Are you tired of sweating every month just hoping that your tenant will pay the rent? Wouldn’t it be nice if just once, you got paid on time without having to keep hounding that tenant?
Here is an idea that you may have never considered. In fact, you might think it’s crazy…at first. continue reading »
A lot of real estate investors only buy property in their own area, but there are quite a few investors who will buy properties outside of their area.
Local investors want to be able to see the property.
Many out-of-town investors will take a look at the numbers and a picture (maybe) and make a decision.
This weekend, I was doing a project for someone else. continue reading »
