Landlords

“Great idea! I need to remember that.”

Sound familiar?

How many times have you been given a great piece of advice – decided to catalogue it in your vast warehouse of a brain – and had that idea languish alone on the dark, forgotten warehouse shelf? Story of my life…

This page captures as many real estate landlord ideas as possible. These are ideas that I want to remember, that are worth sharing, and that need a place to live. Why a blog? There are a ton of personal spaces (spreadsheets, text files, Google Docs, smartphone apps, etc.) where I find articles and ideas, and this creates a single unified point for sharing. Updates are ongoing, so check back often!

Ideas are grouped by the following phases:

  1. Property Advertising
  2. Tenant Screening and Application
  3. Lease Provisions
  4. Property Preparation
  5. Tenant Move-In
  6. Lease Management (Rent Collection)
  7. Maintenance and Maintenance Requests
  8. Tenant Move-Out

Property Advertising

hoose Your Neighbor!! (Ref: The Book on Managing Rental Properties, by Brandon Turner)

  • Postcard to units in a multi-unit building
  • Postcard to neighbors
  • Offer $100 referral fee (postcard must be presented by applicant, or name referenced on tenant application)

Craigslist Augmented

  • Postlets.com – create on postlets.com (keep in mind the 24 pic limit from Craigslist), and let it export to multiple syndicates; also include HTML link On Craigslist post

Standard routes

  • Yard sign, flyers, newspaper, Zillow, Facebook, HotPads, Craigslist, Referral, Other
  • Track source of any call; evaluate what advertising channels work and don’t work

Quality Photos

  • Take good pictures
  • Avoid the smartphone; use a real camera
  • Good lighting is critical; take photos on sunny days (exterior shots in the summer)
  • Avoid junk in the background; staging helps

Tenant Screening and Application

Lease Provisions

Payment method (e.g., Cozy)

Pet Fee (not Deposit)

Repair Requests Process (Cozy)

Property Preparation

Paint Standardization

  • Use the same paint on all properties to avoid extensive tracking or storage of various colors

Door Lock Systems

  • Landlord Locks: Easy to change locks; swap among properties

Avoid Carpet

  • Hardwood with a lot of polyurethane
  • Vinyl hardwood (go durable)

Tenant Move-In

Show You Care (Start Off on the Right Foot)

  • Welcome Packet (Stuff) for new Tenants (soap, shower curtain, toilet paper, etc.)

Lease Management (Rent Collection)

Fall Maintenance

  1. Clean the roof and gutters
  2. Trim overhanging branches
  3. Rake the leaves
  4. Check weatherstripping and insulation
  5. Clean or replace HVAC filters
  6. Patch holes
  7. Drain exterior faucets
  8. Turn off and drain the sprinkler system
  9. Check and clean the chimney
  10. Do a fall maintenance safety inspection

Maintenance and Maintenance Requests

Keep Records

  • All emails, phone calls, texts, etc. should be kept and filed away
  • Keep all receipts for repairs

Tenant Move-Out

Paint Touch-Up Kit

  • Give the tenant a small bucket of paint so they can do the touch-up; helps them keep more of their security deposit; eliminates painting labor for turnover expenses

References: