LANDLORD PROFILE INTERVIEW:
Any Unique 'Local' Landlord Requirements?
Number of Rentals?
Years of Landlording Experience?
Predicting future returns on investment and cashflow.
Your Biggest Mistake?
Not collecting late charges earlier in my career.
New Landlord Advice?
Collect the Rent! Immediately start the process to evict non-paying residents.
Favorite Type of Resident?
The type that pays on-time and keeps up the property.
Best Way to Find/Attract Residents?
Free rental service.
Favorite Application Question?
Are you satisfied with the unit in its current condition?
One Way to Keep Good Residents?
Good communication. Explain policies upfront like repairs and rent collection.
Favorite Rental Clause?
Tenant is responsible for all repairs for under $100.
Money Making Cash Flow Tip?
Collect late charges for late payments.
Money Saving Maintenance Tip?
Required tenants to carry an appliance service plan that covers the units furnace.
How Do You Encourage On-Time Rents?
Promptly charge late charges. (I guess you can tell by now, I'm now a big believer in enforcing late fees.)
How Have You Collected Past Due Rent?
Garnished income state income tax returns.
Trick A Tenant Played On You?
Through rocks down the houses sewer.
Favorite Real Estate Book?
What's Rewarding About Being A Landlord?
Watching my net worth grow every year because of Real Appreciation and working with people giving them a place to live.
How Has MRLANDLORD.COM helped you?
With the property management surveys. (They have given me some great ideas!)