Applicants for your rental property completed their forms, agreed to a background checked and showed you recent pay stubs to verify their income. You've met with them and have a good feeling in your gut. It's decision time, right?
Well, not quite.
You have a few more questions to ask before you should sign a lease with these applicants. But the answers are only a phone call away. Obtain your applicant's permission, and then reach out to current and former landlords and interview them.
These people have, or had, a relationship with your applicant. Ask if the tenant pays or paid rent on time. Ask if they took care of the unit during their time there. Ask whether neighbors ever complained about the tenant.… Read More »
Kevin Williams* picked up the phone and heard his rattled tenant say that there were flies in his apartment. Kevin said he'd be there soon. He swung by the hardware store for some bug spray and met his tenant at the unit.
Kevin could have rolled his eyes and told his tenant to calm down. He could have told the tenant to buy some insect repellant and send a receipt with his next… Read More »
Technology has cut overhead and shifted record-keeping from piles of paper to management software, lease form automation and cloud-based storage. Understanding and making the most of these new tools will allow you to delegate some of the many tasks on your landlord to-do list.
Email is the new social security number
One hugely convenient technology improvement is the ability to scrutinize tenant applicants entirely online. Landlords no longer have to… Read More »
A landlord posted this question in our Forum recently and since it's one that comes up fairly often, we're turning it into a little quiz to see how well you know your way around property management.
The landlord's lease with his tenant – we'll call him Mr. Nice Tenant - is up for renewal. Mr. Tenant has been in the unit for a year, never causes problems, pays his rent one full… Read More »
You've heard it before: Property is wealth. But is it? You're thinking of becoming an investor in rental properties but wondering if it's right for you. Why not check out the research that savvy investors have already done and find out once and for all if it makes fiscal sense to get into rentals?
You can tap traditional sources for information. Books such as Dolf de Roos' New York Times bestseller, “Real Estate… Read More »