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Home · Property Management · Landlord Quick Tips (Page 85)

Tip #18: Reporting a Tenant to the Credit Bureaus This week’s tip submitted by Bill Gray: I have been buried in email on how to report a previous tenant to Experian, Equifax and TransUnion. The company I have worked with, Rent Recovery Services, has an automated service that reports to all three credit bureaus for…


Tip #17: How Time Flies!   If you want to receive the rent on time, and you don’t use an electronic payment service, get in the habit of billing your tenants.   In our heavily automated world, many tenants simply lose sight of the fact that the first of the month is approaching. A reminder…


Quick Tip #16: Have Your People Call My People If your rental unit is carpeted, establish a relationship with a carpet cleaning service– someone that you like and trust to do a good job, before your next tenant moves in. Then, encourage your tenant to use your preferred carpet cleaning company to do the move-out…


Quick Tip #15: Hitting the Mark Determining the appropriate rent to charge has always been a matter of science– and target practice. You know that the figure you chose is too low if you are getting a flood of calls on your ad, and too high if only problem tenants are calling you. In today’s…


Quick Tip #14: Don’t Come in Last As the author in today’s feature (What To Do When the Rent is Late) points out, many tenants don’t pay on time because they don’t have the money. But, someone got paid — the tenant wants to keep their cell phone plan, or their new car. They may…


Quick Tip #13: Am I Covered? This week’s tip is provided by Karie Martin: Question: I just evicted a tenant for non-payment of rent. Now, they are threatening to sue me for racial discrimination. Will my general liability insurance cover me for this if they sue me? Answer: No. It wont. General Liability coverage excludes…


Quick Tip #12: Always the Last to Know? If you receive rent via checks, make a photocopy or scan each one, every month. Take a few seconds to compare the name from the current month’s check to the last one, and look for signs of a tenant in transition: Joint check before, now a single…


Tip #11: Where’s This Relationship Going? Is your applicant planning to stick around through the term of the lease? Not all the information you need to evaluate a tenant will come from screening reports. Hints about their intentions will come from your face-to-face interview. Discuss the applicant’s motives for renting. Ask them why they are…


Quick Tip #10: It’s What You Don’t See That Hurts You   Last spring we ran a post concerning a tenant’s death from carbon monoxide.   That death prompted a new law in Colorado requiring that landlords and property owners maintain adequate carbon monoxide detectors.   This trend is affecting many states and several have…


Quick Tip #9: What’s in a Word? Did you know that, in legal terms, the word may is very different than the word shall? Lawyers spend years dicing over such trivia, but that’s because they understand the bottom line: errors in your lease agreement could mean that a judge won’t enforce it. Then, it’s not…

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