Three Common Listing Mistakes By Owners

Too specific screening criteria in the ad Many investors thinks it saves time when they extensively list their screening criteria in the ad.  Some ads will include specifics about credit score, income requirements, job stability, background check, eviction or foreclosure history, etc.  Here’s an ad I just pulled off an ad on Craigslist out west: “ You must meet the following: credit score above 650, income must be 3xs the monthly rent, must be in Read more…

Entrepreneur Burnout is Real

I was recently nursing a migraine in bed and watching Youtube videos to pass time.  A Youtuber I follow posted a video in response to a new article about Youtubers and content creators getting burnout.  When the video was done I scrolled the comments and stumbled upon one that got under my skin…and continued to 3 hours later.  “I thought if you loved what did it wouldn’t feel like work.” I believe they are right, Read more…

Don’t Leave Your Unit Condition to Chance

Documentation is always your best friend in rentals and definitely with security deposits. For security deposit documentation is often key to prevent losing a ton of money from a security deposit return contested in court. The one we always think of first is the move-in and move-out condition report.  The sheet which represents a written list of the condition of the unit when the tenant took possession and surrendered it. This the form where the Read more…

Normal Wear and Tear & the Security Deposit Dilemma

As a landlord and property manager I look at security deposits with two different hats from time to time.  I will admit the views can be stark different at times. As a landlord I tend towards the view of maximizing cash and going heavier on security deposit deductions (I’ve had my own management company employees lovingly call me Scrooge McDuck).  As a property manager I lean towards making sure a reputation is not developed for Read more…

Generation Z Brings A Wave of Changes

In the last blog we covered some of the differences we can expect to see with Millenials and Gen Z.  In this blog we specifically at how the rental industry will be affected. You are probably wondering how quickly these changes will take place.  Within the next 5-10 years the majority of how we have conducted our business for 70 years will no longer be applicable. #1 New generations are increasingly entrepreneurs. Interiors become more Read more…

How Gen Z & Millenials Are Changing The Rental Industry

Millenials & Generation Z are bringing a wave of change to our lives.  From how they earn their money, to the places they work, to where they lay their heads at night.  As landlords we have to be ready for the massive shift our industry will be seeing in the next 7 years.  They Want To Be Mobile They want to be want to be mobile.  They don’t want to be tied to a mortgage, or Read more…

The Quandary of Lease Lengths

Recently a client of mine asked for clarification of what our company policy was regarding lease renewals.  They were curious if we permitted (or even required) tenants to default to month to month after the original term was up.  Since we had no clear cut policy across the board yet for renewals I posed this question to my war council (a.k.a. my staff) and I was surprised at the differing opinions that existed on the Read more…

A Premier On Leases

Rental Investment Owners are constantly asking questions about lease documents.  Next to support animals it is the most frequently questioned aspect of being a landlord.  Below is a list of questions that have been splattered across rental investment boards from landlords everywhere. How much should I include in my lease beyond the normal terms? There is no perfect length for a lease.  Some landlords believe that too long of leases leads to tenants who don’t Read more…

30 Minute Insurance Audit

When was last time you evaluated your insurance policy?  I mean seriously evaluate it. Not just question your premium if it happens to go up.  Do you file your annual policy statements without a glance? I mean you didn’t ask for any changes so why look right? Wrong. Do you know for sure what coverage you have? Do you have the riders you need? When was the last time you evaluated your deductible?  Most of Read more…

Real Estate Networking In A Tech Driver World

Even as soon as just a decade ago, networking was something that was only done in person.  You had to find chamber events, groups, community functions in hopes of finding people who are not only like minded but also eager to connect. Trade organizations (like WAA or REIAs) were the best chance to meet people who were in the same field as you.  The internet began to erode away at that norms of networking and Read more…