LANDLORD PROFILE INTERVIEW:
Any Unique 'Local' Landlord Requirements?
Number of Rentals?
Years of Landlording Experience?
Finding quality tenants.
Your Biggest Mistake?
Once, and I stress once, I let a couple move into one of our units with only the first months rent and part of the deposit. I don't even have to explain what eventually happened.
New Landlord Advice?
Take the necessary time to check out your prospective tenants. A little due dilligence on the front end will save you a great deal of pain later. Also, have fun while you are building your business.
Favorite Type of Resident?
Those who treat you and your property with respect.
Best Way to Find/Attract Residents?
Keep your properties in good condition and treat your tenants fairly then word of mouth will do the rest.
Favorite Application Question?
Have you ever been evicted?
One Way to Keep Good Residents?
After a year with you go to them and "reward" them with something like a ceiling fan, kick plate, flowers for the yard, etc.
Favorite Rental Clause?
Rental discount for on time payment.
Money Making Cash Flow Tip?
We have begun using the bi-weekly payment option to some of our renters.
Money Saving Maintenance Tip?
Inspect your properties periodically to catch problems when they are small.
How Do You Encourage On-Time Rents?
Rental discount for on time payments.
How Have You Collected Past Due Rent?
Trick A Tenant Played On You?
I still love the " I mailed that check last week."
Favorite Real Estate Book?
Secrets of a Millionaire Real Estate Investor by Robert Shemin.
What's Rewarding About Being A Landlord?
Obviously, the money is great and I truly believe that we are providing a service to the community.
How Has MRLANDLORD.COM helped you?
So very informative!!!! I also find it to be a great source of motivation.