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tenant: Ah... Screening Tenants with the Help of the Internet - 10/07/08 03:01 PM
When it comes to tenant screening, the 'net is a great thing... I just had a prospective tenant call me, and when asked 'why is he moving', his answers were not consistent. BTW, I like to ask 3 times when the first response to that question is anything with the word 'landlord' in it. He went on to tell me that he 'told' the landlord that he was moving, and he wasn't getting evicted... well, he got half of it right. While on the phone, I asked his name and current address, logged onto our local District Court website and did … (6 comments)
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tenant: Collecting Prospective Tenants' Application Fees - 06/25/08 10:33 AM
Hello Everyone,
I just got an idea on collecting larger amounts of application fees... and making it easier.
Several times prospective tenants ask if there is an app fee, and I often waive the charge, in hopes to get more appicants to choose from. I have found that requiring a large fee upfront will sometimes cause an otherwise good tenant to not want to even show up.
When a tenant views a property, I tell them that there is a $20 application fee, to be collected when the lease is signed. This way I still get a fee charged, and I … (0 comments)
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tenant: Finding Your Tenant that has Skipped Out for 28 cents! - 02/24/08 07:41 AM
Have you ever had a tenant that has just left you holding the bag? How about leaving no forwarding address?
Here's an idea:
When you have the unit cleaned out, 99% of the time tenants will leave pennies or other coins on the floor from the move (I probably average 28 cents), have your cleaning people place the money in a sealed envelope, and give it to you.
Then, call the emergency contact person on the application, and let them know that you are trying to reach your past tenant because you have an 'undisclosed amount of money' that your cleaning crew has found. (I … (23 comments)
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tenant: Lease with option to buy-part 2- terms - 11/22/07 06:54 AM
Here are some terms that you might consider placing into a lease to option to buy agreement:
1) define a time period. as I said in the previous post, decide on how long you want to have this agreement; the shorter the better for sellers.
2) Lease option money down. This is in additionto a security deposit, and helps bind the buyer/tenant to really going through with the sale, and working hard to remedy thier credit problems to actually get qualified to recieve a mortgage. The amout of this non-refundable amount can vary, depending on the buyer's abilities and the amount of risk … (0 comments)
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tenant: Something to place in your lease - 11/20/07 06:38 AM
When signing a lease with my new tenant, I use my 'standard' form provided from my local rental association, but I add some special provisions in it.
One is a $40 emergency lockout fee charged by me for when they lock themselves out of their unit. Because I live a half hour away, there is an expense in gas to me, as well as the time involved. This was brought on from a tenant that had called me on a Friday night, just after dinner. I called a locksmith, only discovering that their charge was $80-90 for a service call. The $40 is just enough to … (1 comments)
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Jeff Lund
Grand Rapids,
MI
More about me…
Jeff Lund-Income Property Specialist- Bellabay Realty LLC
Address: P.O. box 726, Rockford, MI, 49341
Cell Phone: (616) 540-0044
Email Me
This blog is committed to buying and selling income properties, landlording, and creating wealth in real estate.
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