Landlord Management Tips
Written by admin

Hi Friends,
 
My friend, Jeffery Taylor, provided another fantastic article for us…
 
CRAIGSLIST POSTING TIP – USE ALL THE TITLE SPACES ALLOWED!
I’ve been posting my rental property listings to our local Craigslist “area” site almost from the day our area was listed on the site. Two of the features that are VERY Good that are rarely used correctly are the length of the space allowed for both the ad titles…the space for the price and number of bedrooms are obvious; however, the Posting Title and Location spaces are quite large/long. Rarely do I see these entire spaces used when posting listings…whether it is because we are used to saving space with costly print ads or lack of imagination or knowledge of the property, these spaces, when used properly, can provide information that the reader can use when searching the site.

Example: $1595 / 4br – Move-in July 1 * Teen/InLaw Suite * 1-Car Garage * Pet OK – (Lake Monticello * 20 Min to UVa/Pantops)

This is a LARGE home with a full basement and the 4th bedroom is a suite unto itself that is desirable for elderly parents or a teenager who wants privacy. While many applicants may not know where Lake Monticello actually is – the chances are they will be coming in with either UVA or the new hospital at Pantops….having the travel time to those 2 large employer locations is also a good item for “first source” information

Example: $1895 / 4br – Move-in Aug 1 * Open Kitchen Fm Rm w/FP * 1-Car Garage * Pet OK – (Forest Lakes * Walk to Club House/Pool)

This is a LARGE home in a VERY desirable area with military families….there are loads of amenities including lakes, Club House, Pool, Tennis, Swim team, Soccer fields – great for families which I can’t say. The house has an open eat-in kitchen family room w/FP and the 1-car garage will certainly be used for storage and not a car.
Using the ENTIRE space allowed for these titles is a challenge; however, once I got the hang of it, I could be creative with abbreviations and still impart information for the ad reader!

 

FUTURE RESIDENT PRIORITY LIST

I think most landlords miss out on the opportunity to leverage the contacts you make with rental prospects. Yes, I may notify an applicant that the property has been rented to another qualified applicant who had applied prior to them. HOWEVER, I also let them know the following:
 
“Mr Prospective Resident, we would be glad to hold on to your application and place you on our “Future Resident Priority List’ for the next property that becomes available and notify you so that you can be one of the first to apply if you are interested. Not only that Mr. Prospective Resident, should you no longer be looking for a rental at that time, we still can offer even those on our Future Resident Priority List our reward that we give to any resident who refers a qualified resident to us. Would you therefore like us to include you on our Future Resident Priority List?”

 

 

SEND MAINTENANCE REMINDERS TO YOUR RESIDENTS
 
Send a note or postcard to your residents reminding them of their responsibility to change the filters on the central air systems (if present in their property), not only to reduce their own expenses but so that the system will not break down, because if it does, they (the residents) will be held accountable for damages and system replacement (Send reminders as often as you deem necessary, monthly or quarterly). I would also encourage rental owners to have any central air systems serviced at least once every two years.

 

END RENTAL RELATIONSHIPS ON A POSITIVE NOTEOver the last six months, I’ve been able to collect several hundred dollars from an ex-resident that I had evicted. Today I collected again on a past-due amount. The ex-resident is a contractor who fell on hard times when the housing market dropped. He does good work, so I give him work at my rentals and a portion of what he charges me always comes off the top toward his debt.A good win-win arrangement is possible because, even though I evicted him, the landlord-tenant relationship between us always was a positive one during the time he rented and even when he had to move, the relationship ended on good speaking terms. There was no animosity created at the end. Neither of us took the situation personally.It pays to end a relationship on a positive note, even if you have to evict someone. Because you never know if the other person may be of help to you in the future. If the relationship ends on a our note, the other person will be very unlikely and probably unwilling to be of help to you in the future. I’ve had many ex-residents offer assistance to me after the fact and even continue to refer “good” residents to me.
These tips are shared on MrLandlord.com website and in the Mr. Landlord newsletter from website contributors, Jeffrey Taylor (founder) and real estate authors featured on the site.
From The Heart,
Dwan Bent-Twyford

 

  
 
 
 
 
  
 
Tags: Posted in Latest Foreclosure and Investing Information | |

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3 Responses to Landlord Management Tips

  1. I do not post much, but this was a good read. Craigslist always has something new in stock. Some site I read had a post about a guy who was going to buy a car for his gf, and he found a car ad with stuff about Hitler in it… Very odd. That is Craigslist…

  2. GarykPatton says:

    Hi. I like the way you write. Will you post some more articles?

  3. CrisBetewsky says:

    It’s a masterpiece. I have never thought people can have such ideas and thoughts. You are great.

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