Are you a landlord looking to seal the deal? My biggest tip is to have a quick response rate. Rental management is a race against time. Every missed call or unanswered email is a missed opportunity. Why a Quick Response is Important The rental industry is a very quick market segment with new supply and demand coming on the market all the time. Most renters need a place and landlords need a tenant within a defined length of time. While both have … [Read more...]
Military Moves: Are You Protected?
Do you own a home? Are you a landlord or thinking about becoming one? Do you think you might at some point move back into your home? If so, are you protected? Do you believe a lease should be equally fair to both sides or should one side have more power than the other? Have you protected yourself from being forced to either buy your tenant out of the lease or wait until the lease is up should you need to move back into the … [Read more...]
Top 7 Places to Advertise Your Listing
As landlords, finding great tenants as quickly and effectively as possible is key. You ability to advertise is crucial to being able to find well-qualified tenants. The question I am always being asked is, "Where should I post my rental listing -- where are the top places to advertise?" Today, I'm answering that question! Advertise Your Listing at These Top 7 Places Craigslist (FREE) - This is a great source to list your rental. For … [Read more...]
What to do When Your Tenant Wants to Break the Lease
Does your tenant want to break the lease? Have you received a break lease request? Turnover for any landlord is scary! Many more experienced landlords like myself specifically schedule expiring leases around major life happenings to prevent as little stress as possible. If your life is anything like mine this is when craziness strikes best, like two houses coming up for lease renewal the day after your husband left for deployment and the … [Read more...]
How to Handle Tenant Requests
You have been smart. You created an awesome lease with a great break lease clause, and used screening criteria. Once you have screened your tenant, signed the lease, exchanged keys, and received rent you may or may not have a smooth tenancy. Honestly, it is up to you and how you handle tenant requests. Some tenants are dreams and you will NEVER hear from them again and there are some who need some training as they do not understand … [Read more...]
5 Reasons Not to Take Tenant References
As a novice landlord, I was always advised to ask for tenant references when screening applicants. I joined different sites, received a couple of references, and grew as a landlord. Now, I no longer ask for or even bother with tenant references. 5 Reasons Not to Worry about Tenant References 1. Landlords are restricted by law on what they can say about their tenants - In some states and areas, landlords can only say certain … [Read more...]
The VA Loan: How are You Using it?
Did you know that the VA loan is a great tool? It can be used for multiple loans at the same time as long as you don't exceed the guarantee. There are many other uses for the VA Loan, make sure you are using it right with these tips! Pros and Cons of the VA Loan Pros No downpayment required. The funding fee is rolled into the loan. It currently has lower interest rates. Cons Funding Fee (Rates vary based on if it is your … [Read more...]
How to Prepare Your Home to Become a Rental
Are you looking to turn your home into rental? Preparing your home to become a rental is easy as long as you are trying to sell your house in its current state. I have had a lot of people tell me about all these "projects" they want to get done before their home can become a rental. The key is not to upgrade your home, but to make it a nice, livable house. Not sure what needs to be done before your home is ready? Below is a list of things to … [Read more...]