I Admit, I Made a Mistake! – Always Run the Report! I admit that I used to make a serious mistake that would put a lot of what I had at risk. I used to not do credit checks. Now, after doing them for several years, I will NEVER accept a tenant without first seeing their…
Start your New Year off by adhering to the below tips that will help you be a successful landlord:
Filling the Vacancy is Not the Ultimate Goal Don’t fall for the myth that having your property rented is the ultimate goal. Yes, it is important to fill a vacancy and fill it fast. I actually consider that a number one priority. However, let me say for the record that I do NOT want you to fill…
Create More Value, Increase Rent Let’s say you have a single family rental: 1,200 square foot, two bedrooms, one bath that also has a living room and family room. Your last renter has recently moved out and you are preparing to get it ready to re-rent. You take Mr. Landlord’s advice about the first thing…
Additional Income When Renting to Pet Owners The following are a few examples of how landlords are able to generate additional income as they work to accommodate pet owners who wish to rent their property.
Month-to-Month Means More Money! Landlords often use month-to-month agreements because it offers them more flexibility and the ability to evict faster if a good apple turns bad. However, one of the biggest potential benefits that most landlords do not take advantage of is that offering residents the option of a month-to-month rental agreement should mean more monthly income to…
No qualified renters? A landlord shared a comment I often hear: “Jeffrey, my weakest link here seems to be that there are no qualified renters who currently need a new place to live. I’d love to have a solution to that one. I’m getting very few inquiries. About half are people currently going through a bankruptcy. The other…
It’s a Mistake to Make Certain Assumptions It’s good to learn from your mistakes but … it’s better to learn from other people’s mistakes. Often, we make decisions based on incorrect assumptions. Here are three big assumptions revealed by landlords that ended up being very costly, in some cases as much as tens of thousands…
10 Ways to Verify Truthfulness of an Application (Before Even Running a Credit Check)
A landlord started a discussion on our rental owners’ forum asking landlords to share their favorite statements which rental applicants make that will instantly cause the landlord to consider not renting to them. One landlord admits that the reason they want to actually meet the applicants in person during the showing is because they are…