Why do an in-home interview?

Why do an in-home interview?

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 meet…

Enough is too much

Seven Houses till Sunday

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…

Rehabbing rentals

Rehabbing rentals

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 floor and the tub surrounds….

Do your tenants meet your core values?

Do your tenants meet your core values?

Do your tenants meet your core values?   We recently welcomed a business consultant by the name of Gary Harper into our office. Gary is with Sharper Business Solutions, and He and his wonder wife Susan, helped us with a number of things ranging from writing out a vision for our company to properly defining all of our departments. They also helped us set up an accountability chart for those…

Tenants must be easy to work with

Tenants must be easy to work with

  So, we recently had tenant applicants do some things that were new to us. One walked out of the lease-up, and the other called us rude. Let me explain what happened and why each instance was actually good.   The first one happened on a Tuesday. We’d been trying to find the right tenant for a vacancy we have up in Dalton. We found some people who looked great…

Always do an in-home inspection

Always do an in-home inspection

  So, you bought a house that you plan to hold as a rental property. You did a great rehab and really have it looking nice. Now it’s time to put it on market and get the rent money coming in.     As you begin to look for tenants, I want to caution you on something. Landlords tend to use their application process to see if a tenant can…

Public service announcement

Public service announcement

  I had an interesting time with contractors last week. We have five rehabs going right now, which means we are dealing with lots of contractors and many different schedules. And last week’ workflow was, well, inefficient at best.   I had one contractor go MIA. I chose that term because we didn’t know he was gone. He normally goes out, works and sends us his invoice when he is…

Why landlords need good tenants

Why landlords need good tenants

  I’m a firm believer in the idea that rental property is an essential part of attaining financial freedom. It’s different from any other capital asset you can purchase. I mean think about it: for what other asset can you get a loan for the purchase price? I’m not aware of any bank loans for stocks. But I do know a lot of programs geared toward obtaining mortgages.   Having…

Why master leasing to an investor was good for a military service member

Why master leasing to an investor was good for a military service member

  I recently sat down with a property owner who was about to become a landlord unexpectedly. You’d be surprised how often this happens. Their scenarios range from inheriting property to going through a divorce or even just experiencing a job transfer. This particular owner falls into the last category. He’s being deployed overseas and received about a months’ notice.   Like I said — unexpected landlord.   Before I…

The key to getting great tenants

The key to getting great tenants

I did something a little gutsy this week. I decided to do a Facebook live video were I walked the viewers through a house we had just gotten back from some vacating tenants. What made this move gutsy was the fact that I had no idea what the condition of the property would be. I just turned the camera on, unlocked the door and began filming.   The house was…