Are you preparing to rent your house? There are so many places you can list your home as available to rent. I've compiled this list of 17 places to list your rental house, so you can find the right tenants for you. Before we get started I wanted to share my favorite resource, Cozy. No only are they great for background and credit checks but they also allow you to list your house through them. This makes it really easy to manage your house for … [Read more...]
Why You Should Operate Your Rentals as a Business
Should you treat your rental properties as a business? I have seen lots of debates between landlords of all experience levels. In some of my own circles, there is a debate about treating rentals as business. I can honestly tell you that I have come off a little harsh in these discussions. Unfortunately, my own bad apples have taught us that we have to treat this like a business. Real estate is defined by rules, laws, and regulations. We … [Read more...]
Tips for Attracting a Short-Term Tenant
Sometimes, for whatever reason, you may need to have a short-term lease rather than the normal 12-month lease, but how do you find tenants for short amounts of time? While I am a big fan of the 12-month lease, a short-term lease can be very advantageous for many reasons: If you need to get an off-cycle lease into peak moving season cycle, If you need to move back into the house in a short period of time, or If you want to sell the … [Read more...]
Why I Manage My Own Properties
You might not guess this but four years ago, I was all about hiring a property manager rather than self-managing my properties. I was the biggest proponent out there. My parents had self-managed for my entire childhood. I grew up painting, showing the house, etc. They were the ultimate DITY role models. I learned a lot from them, but being the typical young adult, I thought I knew it all. I had a general idea of the requirements, at least in … [Read more...]
How to Seal the Deal with a Quick Response
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...]
Banish “Vacancy” from your Landlord Vocabulary
Vacancy. That word causes more fear, worry, and angst than almost any other word in the landlord's vocabulary. Of all the different forums that I am in involved in, this is the word that everyone brings up as a reason to not continue land lording. While there are certainly scary words in land lording, my least favorite are eviction, repair, water, and broken. Vacancy is not on my list because, honestly, vacancy is the one thing you can … [Read more...]
How to Manage Properties Long Distance
Managing rental properties long distance can be tricky, but it is actually easier than you think. Technology has allowed us to overcome a lot of the need for us to be present as a landlord. We have been able to create systems that have allowed us to manage our homes from more than 3,000 miles away! The last time we were physically at a property was in July 2013. So what's the best way to manage rental properties from far away? I've created a … [Read more...]
How to Show a Rental Home From Out of State
Wish you could just say "Beam me up, Scotty?" One of the trickiest things to managing out of state without a management agency is showing the house. I have so far been able to get around this problem with some great friends and tenants. Through trial and error, I have created a great process that has really worked well to date, while limiting the burden to my helper or tenant. This lowers the stress for me while preventing too many … [Read more...]
How to Manage Your Landlord Business While Traveling Abroad
I have an overseas trip. Now what?? I am so excited. I have a 7 day overseas trip planned soon!!! It is a much needed vacation. As a self-manager of 9 properties along with many other life and work requirements the key is having a plan that allows for success even without cell phone reception and limited sporadic cell phone coverage. At the same time it is important that I provide the same quality of service for my tenants when I … [Read more...]
The Perfect Hiding Spot for Your Lease!
Did you know the hiding spot to keep your lease is your email? Honestly I found this out by accident. I was at work and I needed documents for a mortgage (mortgage made simple) for one of our houses. I needed to send my lease. Luckily I had it in my inbox because I had scanned it and emailed it to my tenants. Off the lease went to the mortgage broker. Success! This key event didn't provide the lightbulb over my head until later. I … [Read more...]