You have heard it all before. Some of us have even said it ourselves – “Being a landlord can be a pain.” Most people in this country will agree that it makes a lot of sense to buy property and invest in real estate. We also know all the benefits of investing in real estate. …
When it comes to marketing and leasing apartments, Craigslist might be your best source – but it’s not the only game in town. Zillow.com, HotPads.com, Rent.com, Apartments.com, your own website and social media can all generate good traffic. But have you explored new resources and strategies lately?
Early in my career, I worked for a large recruiting and staffing firm. My sales manager, who was about my age, was the typical company man. He dressed sharp, drove a nice car, constantly smiled, was awkwardly positive about any situation, and was a never ending fountain of motivational quotes — a budding young Zig…
Do you want to know some secrets for preventing tenant turnover in your single-family rental (SFR) or other real estate investment rental properties? Is the vacancy period between tenants eating too much into your profit margin?
Question One: I have an apartment complex in Burbank. There is another building next to mine that has very noisy neighbors. My tenants are constantly complaining. What are my options? Answer One: You cannot directly control the actions of those tenants. I would write a letter to the property owner and explain the situation and…
The look of your rental property can make or break an applicant’s interest in becoming your new tenant. For most millennial applicants, visual media is a must for even a phone call. While using a DSLR camera or high resolution camcorder would be ideal, these few tricks you can use with your smart phone can…
It’s Not About Just Offering the “Right” Renewal Gift Don’t fall into the costly mistakes of thinking that simply offering residents the right gift at renewal time will greatly increase their desire to want to renew their lease. Many landlords think the trick to retention is simply figuring out the right renewal gift or incentive…
When it comes to tax deductions, there are a few schools of thoughts. There are the people who want to write off everything, whether it’s legal or not, and figure the cost of an IRS audit won’t be that bad. Or else they think they can’t ever get caught. They are invisible, or so they…
Question 1: I have a resident that is requesting permission to have a dog. She submitted a note from a doctor written on a doctor’s prescription slip. The note states “please allow my patient to have a small dog.” The building is a ‘no pet’ building, but the tenant is insisting she has the right…
Most of the apartment owners we have had the privilege to meet and work with are pretty frugal with their money. They rarely live in the most expensive homes, drive the most expensive cars or buy the most expensive designer clothes. They are the “millionaires next door,” who built a solid financial foundation on sound…