Landlording for maximum profitability and Financial Independence
My final apartment turnover for March is complete. I am all set until the end of April now. I had the new tenant sign a lease and pay the rent for the remaining March rent, and all of April, on 3/24. I prorated the rent for March, and she also paid all of April. These tenants …
Continue reading “Apartment Turnover and Other Maintenance”
As I go through my financial plan, there are always some reservations about leaving a steady job with 4 weeks of vacation and a nice tech salary. I have checked my landlord retirement plan several times, like Santa checks his list, but a lot more often. While I will not be without income, as I …
Continue reading “Landlord Retirement Thoughts”
No matter how good of a landlord you are, or how great your system is, you will sometimes have issues with a problem tenant. It is up to you to mitigate the issues and make for the best. You must have the ability to recognize the problem, have a solid way to handle it, and …
Continue reading “The Tale of a Problem Tenant?”
24 of 25 rents were all collected and deposited in the bank by 2/3/2015. Since I am now 100% full, it was a great month for deposits and rental cash flow. My one late tenant is the same one as I have every month, and she paid on 2/6/2015. It was late, and many landlords …
Continue reading “January – February 2015 Rental Cash Flow”
When you have a vacant rental, you will inevitable have to advertise and fill it. And, you want the best tenants you can find. Unless you are extremely lucky, you will not rent to the first person who inquires on your rental — or at least the first person will not likely be qualified to …
Continue reading “How to Get the Best Tenants into Your Rental Property”
The rents were almost all collected and deposited by 1/5/2015, so the rental cash flow was consistent with previous periods. I do have one tenant that paid $400 for the first installment of the rent. The same tenant seems to struggle, but since she has been there for a while, I let it ride. Any …
Continue reading “December – January 2015 Rental Cash Flow”
What are the advantages of a Month to Month vs Annual Lease? When renting out property, many landlords want to lock in a new tenant as soon as possible, and they want to lock them in for as long as possible. It makes sense — until you begin to look at all of the commitments …
Continue reading “Month to Month vs Annual Lease: Which Protects Landlords?”
The rent collections were stellar as always, and the rental cash flow is solid. All 24 of 24 rents were in the bank by 11/3, which was the first Monday in November. If you look back at my previous reports, you will see this is typical for me. I can attribute it to having the …
Continue reading “October – November 2014 Rental Cash Flow”
I screen hundreds of renters every year for an apartment complex. I see lots of background checks. I am going to show you how to approve tenants without ever meeting them. I have approved hundreds of renters without ever seeing them. Are you still stuck on seeing and meeting renters? Give it up, it is …
Continue reading “How to Approve Tenants Without Meeting Them”
If you are like most landlords or property managers, you are always looking for the highest rents, after all, no one I know shoots for the lowest rents. But there comes an amount where the rent exceeds the value of the property. Once that happens, you would think that you would not be able to …
Continue reading “How to Get Higher Rents, the Hard Way!”
