Landlords Offer Some Landlording Advice

When I'm showing a rental property, I like to arrange it to be a multiple showing, like an open house. I set aside an hour for a particular day like a Sunday between 1 and 2 PM and try to send all the potential customers to see the property. I bring a pile of applications with me and am prepared to answer questions about the rental. The whole time I am scrutinizing the prospects. There is such a feeling of competition between the prospective tenants, and makes any one of them feel lucky if they are chosen. Most of them are willing to submit their application, screening fee and deposit on the spot. This has been a great timesaver for me, and makes getting them rented a little more fun. - John N., NY

When screening an applicant, ask for a copy of a picture ID or drivers license. Make sure the person in front of you is the same person on the application and credit report. - John N., NY

With new tenants be ready to enforce late charges the first time your tenant pays late. If you set a precedent of waiving your late charge, tenants will be offended when you want to enforce your policies in the future.- Bonnie K., NY

When executing a new lease, remember to staple an "Intention to Vacate" form on the back of the tenant's lease. Reminding the tenant to give proper notice and proper move-out procedure can make your life a lot easier when it's time to start looking for a new tenant.- Dan A., OH

Try not to collect rent in person if you can help it. It is an opportunity for the tenant to complain or make demands. Although many landlords like to check on their property under the guise of "collecting rent", the visit often backfires. In some cases, if the landlord fails to immediately make an issue over a lease violation he notices (such as an unauthorized pet), it can be considered as giving implied permission. So, if you collect in person, be ready to confront tenants with violations. Also, if you have a
beautiful car that you are proud to be seen in- try not to rub it in the faces of your tenants. Tenants resent the landlord who arrives in a new Mercedes to collect the hard earned rent that the tenants just scraped together. Do you think they'll feel bad for you if they're forced to pay late or if you are behind on your mortgage? - John N., N.Y.

We have found that our properties are better maintained by tenants who have signed a Condition Inspection Report at Move-In. I highly recommend it.- John N., N.Y.

Always, always verify the current and past landlord. Ask the "landlord" to just verify the address of the property the tenants are leaving from. You'd be surprised how many phony reference "landlords" don't even know their friend's address or how long the tenancy was. - John N., NY

Pay special attention to your potential tenant's reaction when you question any red flags on his application. If you strike a nerve, they may reveal their true colors if you have a potential problem tenant on your hands. - John Como, N.Y.

To avoid an unprepared tenant at the lease signing, be sure to instruct him on what to bring with him beforehand. We like to always require the tenant to bring a copy of his driver's license, social security card, and the balance due in certified funds, money order or cash. Also, if there are any other adjustments, we'll advise them at that time. - Lou, BVR Management, Inc.

I've been a landlord for over 25 years and always have had a good relationship with my tenants. Unfortunately, they become my friends soon after they become my tenants and I've always enjoyed their friendship. That can be very costly. How can you raise rent regularly on friends? How can you enforce your lease when they break it if you value the friendship? I'm behind in my payments because my "friend" can't pay the rent! My advice is: try not to become close friends with tenants. - Joan M., Allentown, PA

I have been able to eliminate a few disasters by making a reason to visit the rental applicant at their current home before signing a lease with them. I get the opportunity to view how they live. - J.N., Naples, FL

Editors Note: When implementing application and rental procedures, be consistent! Applying different rules and procedures to different tenants and applicants is discriminatory and may violate Fair Housing Laws.

Source: www.thelpa.com

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