June Landlord Tip

No Family/Friends

Renting to family or friends is one of the most common but most disastrous mistakes many new landlords make. Make it a policy. No more stress from those relationships.

May 2015 Landlord Tip

landlord-tipExercise Compassion

Occasionally, tenants will have a problem. Maybe they’re running a day late on their rent payment or they need to let their recently divorced brother sleep on their couch for a couple weeks. Whatever the problem, try and tap into your compassionate side when dealing with your tenants, especially the good ones. If you show tenants a bit of compassion and let them slide (within reasonable boundaries of course), they will remember the kindness. If tenants feel they have a compassionate, understanding landlord and not just a business automaton, they will be more likely to renew their lease or accept a small rent increase.

March 2015 Landlord Tip

landlord-tip

Forms are Your Friends

The Internet abounds with sample contracts. Use them. The more you detail at the outset, the smoother your rental will run. One blogger uses the example of a renter trying to pay for a month with quarters. Not what you want? If you spell out your preferred payment method in advance, then you don’t have to worry. And if something should go wrong, such as a late payment, you can point to the contract that stipulates the renter owes a penalty fee.

April Landlord Tip

Be proactive and contact your tenants the following month after they move in. Ask them if everything is ok. It’s also a good idea to stop by periodically to change the A/C filter. By doing this you monitor the condition of your property. This type of visit is especially important the first month or two after they move in. It’s much easier to correct bad habits when they first begin.

Landlord Tip of the Month: March

landlord-tipWhen tenant is moving out, do your final inspection within 2 days after property is vacated. Only then send a refund check to the new forwarding address for the remaining deposit less any cleaning, damages, repairs, etc. You should almost always deduct at least enough for a professional cleaning of the property.

Landlord Tip of the Month: February

landlord-tipDiscounts are always excellent forms of marketing, because it rewards the customer just for getting the product or service. Although you don’t actually have to offer lower rent, you can make use of this reward strategy to offer special benefits for your would-be tenants. A free month’s rent or perhaps some gift certificates could serve as a nice enough incentive to actually make people choose your apartment over another.

Landlord Tip of the month: January

If you think taking on a roommate would be simpler than becoming a landlord, be warned: The minute you ask someone for rent, you’re a landlord.

Landlord Tip of the Month

Landlord Tip

Ensure you create a move-in inspection report. This will be extremely helpful if your tenant causes damage, as you will have valid evidence of the condition before the tenant lived in the property. It will also ensure you can provide a sufficient reason for withholding the tenant’s security deposit.

Landlord Tip: Don’t overlook niche markets.

For instance, by making your door openings 36-inches wide and installing grab bars and a ramp, you can rent to people in wheelchairs. It’s a great way to do some good — and you’ll always have tenants.

Autumn Renting: 7 Tips to Help Potential Tenants Fall for your Furnished Rental

With the leaves changing color, nature seems to be staging her own redesign. Follow our tips below for an autumn update and you’ll have tenants falling for your long term furnished rental.

  • Repair and refresh minor imperfections in your rental. As the temperature chills, tenants spend more time indoors. This means it’s time to take care of any shabby pillows, stains or holes in the walls or any other blemishes that people may notice.
  • [Read more…]