Do Mom & Pop Landlords Differ From Professional Managers in Conflict Resolution & Tenant Retention? Snidely Whiplash tying Nell Fenwick to the train tracks because she can’t pay the rent, is not quite what we have in mind here. In fact, some practices still in action today by both Mom & Pop shops and some Professional Property Managers can both borderline on some pretty unethical and unlawful resolutions. There are laws to protect tenants from unscrupulous landlords on both sides […]
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In Volume 1 of our blog series we talked about the Types of Landlords and the impact this can have on Tenant Screening. Here in Volume 2 we will dig deeper in the different options and features that you will find in the smaller Mom & Pop Landlord Shops vs. a Professional Property Management company. Again, it is not our goal to sway you towards one or the other. Your specific needs as a resident may vary as widely as […]
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So you are looking for a new apartment to call your home. But you cannot decide which style of apartment living is going to be the right choice for you. With all of the factors flying around in your head like, commute time to work, great school systems, nice neighborhoods, amount of rent you will pay, and how long it will take you to go pick up a gallon of milk; now you need to decide what type of building and […]
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The biggest mistake a landlord makes in owning rental properties is not treating their rental properties as a business. Obviously there are pillars of performance that need to be adhered to to find and keep happy residents, such as: tenant screening, knowing your numbers and strategy for the building, and keeping up with maintenance and repairs. Probably the most overlooked aspect of being a landlord are the building codes and state sanitary codes that clearly outline the specific performance expectations of […]
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Start building your power team before you need them. Think about the people you will need to run a successful Real Estate business and their roles on your power team. These are the people who you can leverage their time and experience to help build your business faster. The best part is that most of these team members do not require payment until after you have completed a deal. They will be paid from the profits. I am sure you […]
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You are probably thinking I am going to go off on a tie raid pointing out all of the little things renters do wrong to see if your residents have been naughty or nice. Not so fast! I think you will see in a moment that I already think your residents are the most important people in your fiscal world and they deserve more appreciation than we as landlords are usually willing to acknowledge. Let me set the stage for […]
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This may be a fact that most people overlook. But, letting your current landlord know that you will be moving goes a long way when talking to your prospective new landlord. If your current landlord knows you’re moving and you have given a proper notice to quit, then your new landlord can assume that when you move out of their apartment you will treat them with the same common courtesy. If you answer “No”, they do not know I am […]
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