Archive
Why do an in-home interview? We have three properties on market right now for rent, and the quality and amount of applications coming in is great. This is a stark difference from the craziness we experienced in late fall of last year. Then, we had 200 applications submitted for just one property. And of those, only 20 percent were filled out completely, but most of the applicants didn’t...
Enough is too much Rent is due on the first and late after the fifth of the month, according to most residential leases. On the sixth, a letter of demand should be issued to any tenant who has not paid. That letter should read something like this: “Dear Mr. and Mrs. Tenant, The purpose of the letter is to let you know that we did not receive your rental payment this month. This...
Rehabbing rentals It takes a different mindset to rehab a rental property than it does to remodel a flip property for resale. And the difference in landlords’ mentalities is vast. Take what I saw on a Facebook advertisement recently where a landlord was advertising their freshly-renovated house. This thing was nice. I’m talking HGTV nice. The bathroom had custom tile on the...
What is better, notes or rentals? If you’re like most investors, you have a renewed perspective on your business right now. That’s because you’ve just analyzed all your rentals, done an inventory of your cashflow and have gotten things ready to send to your CPA. We call this process our end-of-year review. During this process you’re seeing what kind of cashflow your properties...
Fighting for rental space This year has been very strange as far as rentals go. First off, rent rates have skyrocketed. In 2018, we have seen two-bedroom, one-bath houses rent for as much as 3/2 floorplans were renting for just two years ago. With the spike in rent prices, odd things have started happening. For instance, we’ve had con artists trying rent people our houses. ...