LANDLORD PROFILE INTERVIEW:
Any Unique 'Local' Landlord Requirements?
Number of Rentals?
Years of Landlording Experience?
Plumbing repairs at 1:00 am.
Your Biggest Mistake?
Renting to a friend.
New Landlord Advice?
Remove bad tenants quickly.
Favorite Type of Resident?
Tenants who are on rental assistance program. Rent is always on time.
Best Way to Find/Attract Residents?
Nice property and sign on busy street.
Favorite Application Question?
Where do you work?
One Way to Keep Good Residents?
Find the right ones in the first place, and then take care of them.
Favorite Rental Clause?
"You are responsible for maintenance due to misuse of plumbing, appliances, garbage disposals, etc., and all damages caused by you or your family whether by misuse, neglect, accident, intentionally, or otherwise, will be repaired as additional rent to be paid immediately."
Money Making Cash Flow Tip?
Low maintenance units (new) at attractive locations.
Money Saving Maintenance Tip?
Buy newer and build new. Do some of your own maintenance.
How Do You Encourage On-Time Rents?
We have a large male collector, whom our tenant would rather not talk to.
How Have You Collected Past Due Rent?
I send my collector. He gets paid by collecting the late fees charged to our tenants ($30 late fee plus $3 every day late).
Trick A Tenant Played On You?
Telling me they mailed the rent, when they didn't.
Favorite Real Estate Book?
Loan amortization book.
What's Rewarding About Being A Landlord?
Cash Flow, retirement, and all that comes with it.....golf!
How Has MRLANDLORD.COM helped you?
Helpful advice. Like the weekly tips and the advice found in the Q & A Library.