Helpful Tips For Landlords When Renting Out a Property
Some things which a property owner (landlord) can take note of when renting out property
1. Get a good “feel” of each other
Landlord-tenant relationships can either be smooth-sailing or extremely rocky. Some tenants may not be familiar with local culture, common market practices or may sometimes have over-expectations in service quality standards. It’s important for both [...]
Property Management Tip – Test Your Vendors by Setting Up Ways For Them to Easily Cheat You
75% of Vendors overcharge on supplies and hours. As an owner of a large property management company, I typically have to go through 3-5 new AC guys, electricians, carpenters, or plumbers to find somebody skilled, with great rates who is honest. I test them by setting up a job so they can easily cheat me [...]
Property Management Tip – If You Want to Collect Past Due Rent Do Not Let the Tenants Set the Terms
In our property management company, collecting rent is very tricky and requires some insight into the psychology of dealing with tenants. The most common method of rent collection is to insist the rent is paid on time or an eviction is filed after the 3 to 10 day notice expires (changes depending on what State). [...]
Property Management Advice – 7 Ways to Organize You Must Know to Rent Your Places Faster
I can not tell you how many times in the beginning of my property management career a prospective tenant called and caught me unprepared. I quickly learned I saved 5 to 10 hours a week and rented more houses by being well prepared. Here are my best tips.
1) Application Forms
A property manager should carry [...]