Landlord Land Mines

By the way, Happy Thanksgiving. But don’t forget to bill your tenants with the holiday madness…

It’s time. You should be sending a bill to your rentals today to ensure prompt payment of your rent. The statement should include the following:
- when rent is due
- when rent is late
- what the fine is for the rent being late
- what form to make the payment in
- where to send it.

It doesn’t hurt to have a return envelope with the statement with your address on it. Log that you have sent out this statement in your rental logs.

I know, I know. You’re saying most of these things are in the month-to-month or lease agreement you have signed with the tenants. But most of them have not been read, so remind them. Today.

And have a good December!

Tags: Rent Collection by Purva Brown
No Comments »

Well actually, the submission was received a while ago, but I guess that’s what happens when your properties are rented - you get lazy, or just terribly involved in a million other projects.

But I want to extend a thank-you to Bruce Sutherland who blogs at www.Landlord-Success.com for his submission and willingness to answer questions for novice investors, should you have any.

Do you have a story or incident you would like to submit for inclusion in the upcoming e-book? Please do so by emailing me at purvabrown@msn.com

Tags: E-Book by Purva Brown
No Comments »

From personal experience, signs posted in front of a home will probably get more calls than newspaper advertising. Just recently, I had bemoaned the fact that both my rentals were vacant. Happily, they’re both rented now and the odd part is they were almost both rented with just one sign in the front yard of the one that was vacated first.

However, it never hurts to use online free advertising like Craigslist, especially if used in conjunction with VFlyer.

Tags: Finding Tenants by Purva Brown
No Comments »

Okay, I’ll be completely honest. I started this blog with the hope of having a blog completely related to landlording and not just in Sacramento. My other blog relates more to real estate in Sacramento and the surrounding areas. Somewhere along the line, most Realtors acquire property and become landlords. So did I. Over time, my interest in it increased and now I hate not being able to buy a rental if I see a good one! Especially in this market.

So, I’m doing the next best thing. I’m writing an e-book about advice for landlords. A book on how not to screw up landlording, if you will. And I’ve been talking with people that have been successful at acquiring rentals and maintaining them. I have learned a lot.

So, if you have any stories you would like to submit, please feel free to comment. I’d love to include your experience into the e-book. Oh, and when it does come out, be sure to buy it. It’ll be pretty inexpensive for the advice it contains.

No, really.

Tags: E-Book by Purva Brown
No Comments »

If I asked you what the most important relationships in your life are, I would imagine you would mention your families. But if I asked you what the most important wealth-building relationships in your life are, after mentioning your tax preparer, your attorney, your Realtor, and so on, would you mention your tenants?

Yes, you read that right.

Your tenants are important to your wealth-building strategy as a landlord. Get the right ones and nurture the relationship and you will have years of success. Get the wrong ones, and well, you know.

Here I will give you tips on getting the right tenants, avoiding the wrong ones and watch for some pitfalls along the way. So stop by for tips, news, and other investment advice for landlords. You will find resources for landlords and other hard-earned lessons from me and others like me. So you don’t have to repeat the same mistakes.

Lucky you.

Tags: Etcetera by Purva Brown
No Comments »