LANDLORD PROFILE INTERVIEW:
Any Unique 'Local' Landlord Requirements?
Number of Rentals?
Years of Landlording Experience?
Not getting caught up or frustrated in the hundreds of reasons residents give for either being late on their rent or not paying their rent.
Your Biggest Mistake?
Selling almost 50 apartments three years ago and not having the foresight of how much they would appreciate in that time.
New Landlord Advice?
Be a hands on landlord. In the beginning don't expect anyone else to do the job the way you expect it to be done.
Favorite Type of Resident?
Husband, wife and a baby.
Best Way to Find/Attract Residents?
Word of mouth from your current residents because you are such a good landlord.
Favorite Application Question?
How many years on the job?
One Way to Keep Good Residents?
When a repair is required, don't procrastinate! Get it done as fast as possible. I have found many residents really appreciate this.
Favorite Rental Clause?
No drug activity is to take place in the apartment or around the building.
Money Making Cash Flow Tip?
Check and fix water leaks immediately.
Money Saving Maintenance Tip?
Use 1.6 Gallon toilets, water saver showerheads, aerator faucets and computer controlled boiler.
How Do You Encourage On-Time Rents?
Residents get a notice to pay or quit on the 6th day of the month. Most residents do not like receiving this notice.
How Have You Collected Past Due Rent?
Wage garnishments and I go through a collection company.
Trick A Tenant Played On You?
Resident put a slug into a washing machine. After just emptying the machine, on a hunch I went back and checked the coin box again and found four slugs in the coinbox while the resident was doing her laundry.
Favorite Real Estate Book?
Secrets of A Millionaire Landlord
What's Rewarding About Being A Landlord?
How Has MRLANDLORD.COM helped you?
Some good forms and good weekly tips.