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Home · Property Management · Landlord Quick Tips (Page 87)

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…


Quick Tip #8: FYI on DIY by John Mulkey After finishing that paint job, its good to keep a small amount of paint for future touch-ups; but youll have to protect it from drying out. I transfer small amounts of paint into glass jars and label them with both the color name and formula and…


Quick Tip #7: Who You Gonna Call? A solid lease application form will request three emergency contacts. A conscientious landlord will call and make sure these people actually exist. Once a tenant has moved in, periodically update the emergency contact information – every six months to a year. Ask the tenant to inform you of…


Quick Tip #6: Collect Autographs Be sure to list the names of all adults (18 and up) who will be living in your unit as tenants in the lease. In order to hold a person liable for unpaid rent and damages against the security deposit, each must also SIGN and DATE the lease. That means…


Tip #5: The Good Child Gets Ignored Landlords spend so much time dealing with problem tenants that it is easy to ignore the good ones. Consider the current high-vacancy market when you are checking files for upcoming renewals. It may be a good idea to contact your tenants earlier than usual to ask them to…


Quick Tip #4: Move ‘Em In, Move ‘Em Out When a new tenant moves in, you must have them sign and date a move-in inspection report. (And, you know you should take pictures, right?) But it’s also a good idea to give your new tenant a few days (3-7) to amend the move-in checklist once…

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