Archive
A big fat jacket Last week, we made an analogy between how you protected yourself from the elements as a kid when you played in the snow and how you should use that same logic to protect your assets. Both should be done in layers. We talked about layers commonly used to protect financial assets — things like corporations and how the corporate shield is a great line of defense from...
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...
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...