LANDLORD PROFILE INTERVIEW:
Any Unique 'Local' Landlord Requirements?
Number of Rentals?
Years of Landlording Experience?
Telling someone that really needs a place: NO
Your Biggest Mistake?
Not filing evictions notices soon enough.
New Landlord Advice?
No pay, No stay. Don't give tenants the impression that you will think about it. If they don't have a friend or relative to borrow rent money from, that in itself says a lot.
Favorite Type of Resident?
Elderly couple, with no grandchildren and no pets.
Best Way to Find/Attract Residents?
Referrals from neighbors of the rental unit.
Favorite Application Question?
Do you have any other income, such as child support, SSI, suits pending or court ordered monies?
One Way to Keep Good Residents?
Quick response to maintenance and other issues such as parking, noise, plumbing, etc.
Favorite Rental Clause?
Rent due by the 25th of the previous month, and late on the 1st. This gives me a head start at the Courts and Sheriff offices.
Money Making Cash Flow Tip?
Do what is within your capability yourself, but have a list of pros to do what you can't.
Money Saving Maintenance Tip?
Keep the tenants as long as they perform according to lease. Every tenant that you retain is one less unit that won't have to be vacant, cleaned, painted.
How Do You Encourage On-Time Rents?
Enforce 10% late fee the first time and file evictions if they haven't paid when they said they would.
How Have You Collected Past Due Rent?
By filing evictions as soon as possible.
Trick A Tenant Played On You?
Sub-Rented the apartment to someone else for a larger amount (Drug dealer).
Favorite Real Estate Book?
Most of them. Education (Books) is expensive, but ignorance cost more.
What's Rewarding About Being A Landlord?
Independence / Freedom
How Has MRLANDLORD.COM helped you?
In several ways as I read the problem solving techniques and the comments/discussions found on the Q & A Forum.