LANDLORD PROFILE INTERVIEW:
Alan Rusk (Aldo)
Any Unique 'Local' Landlord Requirements?
A landlord can be cited by the police for tenant misbehavior. Though, this is no longer unique just to our area, this is becoming more popular nationwide.
Number of Rentals?
Years of Landlording Experience?
Having to remove a good tenant who fell on hard times.
Your Biggest Mistake?
Re-renting to a tenant who had previousy 'stiffed' me, even though she proved that her situation had improved.
New Landlord Advice?
1) Join a local landlord association and take advantage of the services offered.
2) Read, read, read. There's a stack of quality books out there that weighs more than your building.
3) Spend at least 1/2 hour a day at the Q & A Forum at this site.
Favorite Type of Resident?
Gainfully employed, middle age couples with no young children.
Best Way to Find/Attract Residents?
Offer a small bonus ($25) or an upgrade to a resident's unit for accepted referrals.
Favorite Application Question?
"What kind of pet(s) do you have?" I don't permit pets, but they don't know that.
One Way to Keep Good Residents?
Be fair, firm and courteous at all costs.
Favorite Rental Clause?
Amounts received by landlord will be applied first to unpaid charges and the balance to current charges.
Money Making Cash Flow Tip?
Diligently, but fairly, charge Late Fees. Charge tenants for repairs to damage done by them, their visitors or guests (See 'Favorite Rental Clause?' above).
Money Saving Maintenance Tip?
Use the same color paint in all units.
How Do You Encourage On-Time Rents?
Charge Late Fees as permitted by law and give 'Christmas Bonuses' to prompt paying tenants.
How Have You Collected Past Due Rent?
HeeHee. Like that's really going to happen.
Trick A Tenant Played On You?
Tenant payed rent on time and at the same time was served a 1 month notice to vacate. Check was deposited promptly. Two weeks later the tenant stopped payment on the check and my bank honored the stop payment notice.
Favorite Real Estate Book?
Care and Feeding of Tenants by Andy Kane
What's Rewarding About Being A Landlord?
That rare and elusive note saying "Thank you for being a good landlord." enclosed with a rent payment.
How Has MRLANDLORD.COM helped you?
Aside from learning the basics, I've learned more at mrlandlord.com in the past 2 years than I've learned in 25 years of landlording.