LANDLORD PROFILE INTERVIEW:
M J Fonte
Any Unique 'Local' Landlord Requirements?
Number of Rentals?
Years of Landlording Experience?
Finding "quality" long term tenants. Quantity and deadbeats are no problem to find.
Your Biggest Mistake?
Leasing to someone with a non-traditional job (dancer) with their promise to follow the rules. The eviction followed almost 6 months later. The aftermath cost $8,000.
New Landlord Advice?
Check out any prospect to the best of your ability. Do a phone interview to find out the who, what, when, where and how . (And always run a credit check).
Favorite Type of Resident?
Divorced, middle-aged female or Mid 20's married couple.
Best Way to Find/Attract Residents?
Keep rental in top shape and word of mouth.
Favorite Application Question?
Drivers license number? With that number you can find out almost anything you need to know.
One Way to Keep Good Residents?
Adding a ceiling fan or two and a little paint usually does the trick. I also tll my tenants that as long as they stay I will not go up on the rent.
Favorite Rental Clause?
Damage Deposit / Clean-Up Fees.
Money Making Cash Flow Tip?
Refinance for lower interest rates.
Money Saving Maintenance Tip?
Buy a supply of A/C filters and bring one every month/time you inspect the property.
How Do You Encourage On-Time Rents?
Pffer a "discount" if rent is paid on time. For example, what I want in rent is $675 per month, but lease says $700. If rent is paid by the due date, tenant takes a $25 discount.
How Have You Collected Past Due Rent?
With the help of a Judge.
Trick A Tenant Played On You?
A "friend" coming to "visit" for a few days ended up staying much longer.
Favorite Real Estate Book?
Property Management For Dummies.
What's Rewarding About Being A Landlord?
Cash flow and tax advantages.
How Has MRLANDLORD.COM helped you?
Great insight and "useful" information.