Rental Application Procedure

Rental Application Procedure   The way we take rental applications has changed over time. When we first started, we would take lots of pictures, a video tour and then upload all that material to a website that we could advertise on for free that would also syndicate to other sites like Zillow and Trulia. We would then put hand-painted red signs in the yard of the property listing all the…

You have to go inside the house

You have to go inside the house   My sister and her three kids are moving cross country — and I mean literally from one coast to the other. On the fifth day of their long car trip, they finally made it to Georgia and stopped in to spend the night at our house for some family time and a much-needed reprieve from hotel rooms and restaurant food.   We…

Passive income equals freedom

Passive income equals freedom   I was sitting on a plane recently getting ready to take the longest flight I have ever been on. It was from Atlanta to Portland, and it was going to take 5 1/2 hours. And I was wondering what I was going to do with myself for that long.   When I boarded the plane, I was a little taken aback. It was huge. A…

Tenant at will

Tenant at will   Well, I recently found myself in court with an inherited tenant. When I say inherited, I mean the tenant was in place when we bought the property. Our problem was not because of nonpayment but instead because of an unruly dog.   Now, I like dogs. And our company is pet friendly. But when I did the inspection on the house, I could see this animal…

Explaining the four jobs of a tenant

Explaining the four jobs of a tenant   I’ve written to you many times about how we “hire” people to do the four jobs of a tenant. And I’ve said those fours jobs are the standard by which we choose our tenants and also how we decide to “fire” them when they’re not performing.   And just to remind you, the four jobs are: 1. Take care of the house….

Train, train and retrain your tenants

Train, train and retrain your tenants   I tend to be an open book, especially when I mess up, because it holds me accountable and helps me to learn from mistakes.   So, with that fact in mind, I’m going to tell you about something I messed up on with a rental, and then, I’ll tell you how we remedied it.   I got a little lax with doing inspections…

Do you take pride in your rentals?

Do you take pride in your rentals?   As I’ve told you before, I like doing service calls on our rentals. One of the big reasons for this is I get to see how our tenants are keeping the properties.   We pride ourselves on good customer service, which includes a fast response time on service calls. So when something breaks, I’m often there within a few hours. As such,…

Sitting at the laundromat with my bank account drained

Sitting at the laundromat with my bank account drained   So, I learned some very valuable lessons this week at the laundromat. First, laundromat has an “O” in it which is contrary to how I say it — “laundry mat.” Next, the machines there have come a long way since I was kid. They have timers on the washers now, which is awesome, and the dryers are very efficient. I…

A good property management system

A good property management system   I have been out working on rentals a lot this past week. Contrary to what you hear about most landlords, I actually like working on our properties. The reason for this is because I get to see how our people are doing, how they are keeping the house up and if they are doing the four jobs of a tenant.   And just to…