In this episode, I share with you ten tips and techniques that I have learned over the past few months of interviewing successful landlords. This list is not all-inclusive, but it includes some things that I have learned that I am going to incorporate into my rental business.
1. Charge more for rent, but offer discount for on-time payment.
2. Use e-renter for payments.
3. Garnish tax returns/income.
4. Make sure that there are no blanks on applications.
5. Try to get ten applications.
6. Have a small cash reserve.
7. Make sure tenant is responsible for 1st $100 of repairs.
8. Visit property regularly.
9. Ask for rent to be paid using cashier’s check.
10. Keep property in good repair.
These are various tips and techniques for successful rentals. I am sure there are many that could be added to this list. I encourage you to list any other tips that you might have in the show notes. If you would like, you can email them to me at Mike@juststartrealestate.com. I will make sure to include them in a future episode.