LANDLORD PROFILE INTERVIEW:
Any Unique 'Local' Landlord Requirements?
MANY privately owned rentals in our area with unpaying residents as occupants. I therefore ALWAYS do credit checks.
Number of Rentals?
Years of Landlording Experience?
Refusing to rent to someone even though they need a place - usually I find they are filling out a fraudulent application.
Your Biggest Mistake?
Over-riding a bad credit check because I feel sorry for them and not filing evictions early enough.
New Landlord Advice?
If rent not paid on time and every month, they have to GO. No excuses!
Favorite Type of Resident?
The one that pays on time and causes no problems. It's also hard to find that type of resident.
Best Way to Find/Attract Residents?
Referrals from my GOOD residents.
Favorite Application Question?
Do you have any other income?
One Way to Keep Good Residents?
Quick response to maintenance things such as parking, plumbing, noise etc.
Favorite Rental Clause?
Rent due by the 1st and late by the 3rd - gives me a heads up to see the lawyer.
Money Making Cash Flow Tip?
Try to keep your residents happy by keeping the property maintained and then they will want to keep their homes in good condition also.
Money Saving Maintenance Tip?
Do maintenance myself and the contractor does what I can't do.
How Do You Encourage On-Time Rents?
I enforce the late fees. I also offer specials if they are on time with their rent for the whole year.
How Have You Collected Past Due Rent?
I file evictions. In my area - nothing else works because I have tried everything I can think of.
Trick A Tenant Played On You?
I allowed a "short" visit by a dog because a family member was in the hospital, however the dog is still there months later.
Favorite Real Estate Book?
Anything I can get my hands on.
What's Rewarding About Being A Landlord?
A good running property with no problems and happy tenants. No vacancies that way.
How Has MRLANDLORD.COM helped you?
By giving me guidelines and ideas to manage and operate my property. Advice on how to deal with residents. I LOVE this site and the newsletters.