Archive
Start the ball rolling Does this scenario sounds familiar? Rent is due on the first and late after the fifth. After 5p.m. on the fifth, you send a letter of demand via email and a text that says the tenant needs to pay or move from the property by the ninth. If not, you’ll have to file dispossessory at court. On the morning of the ninth you get a frantic call from the...
What can an in-home tell you? I’m sure you have all heard the horror stories of some poor landlord who took the first person with money who came along and rented to them their nice, newly renovated rental home only to have it destroyed in a matter of months, right? While that does happen, there’s something you can do as a landlord to limit and pretty much prevent that scenario....
Our first occupied sit-out We recently had to do one of the most uncomfortable things I feel like a person has to do as a landlord. It’s called a sit-out. If you don’t know what that is, a sit-out is the culmination of the dispossessory proceedings. It’s where the landlord has to go in and physically remove all of someone’s personal possessions from the interior of their property...
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...