Archive for Tenants

Being A Landlord.com Podcast Episode 1 Luxury vs. Low Income Rentals

I still struggle with this question. Should my next property be a luxury rental? Or should it be a low income rental?

My wife and I currently own one of each.

In this Podcast (The First Official Podcast of Being A Landlord.com!) I discuss the good points and the bad points of both.

Take a listen and let me know what you think in the comments!

 

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Posted in: Real Estate Market, Rental Property Type, Tenants

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Should You Allow Pets In Your Rental?

One question I get many times is, Should you allow pets in your rental.

I answer that here in this video. In the video I tell you my pet policy.

I also tell you my secret to making everyone happy and opening up the number of potential tenants that see your rental.

Let me know your thoughts on pets in your rental in the comments below.

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Posted in: Tenants

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7 Ways To Find A Tenant

One of the biggest fears a new landlord has is the fear of not being able to find someone good to rent your property. The bigger fear here is that you will be stuck with an empty property and you will have to pay the expenses (mortgage, utilities, etc.).

Here are 7 ways to get potential renters through your door. The more feet through the door the more chance you have of finding someone worthy of renting your property out for the next 12 months.

So to break it down:

1) “For Rent” sign in front of your property
– Friend in South Carolina with row houses that this works perfect for. Not 24 hours go by without a flood of appointments
– Must have the traffic for this to work (busy street, neighborhood, etc.)
– Depends on market but low cost to test

2) Ad in newspaper
– May be less costly than rental websites
– Depends on market
– Usually goes out in print and online
– Depends on readership of newspaper

3) Ad on Craigslist
– Free
– Agents are doing this Pro
– Agents are doing this Con
– May want to use a different number

4) Tell A Friend
– A friend may know someone who is looking for a place
– Post to Facebook if you feel comfortable

5) Post at work
– Company internal website
– You know these people have a job
– I have gotten traffic this way

6) Ad in rental websites
– My most effective method
– Where majority of serious renters go
– Do get no-shows
– Compete with bigger companies

7) All of the above
– Mix may be best especially when starting out
– Test each area and narrow down to what is working best
– May be able to save money if newspaper and rental website is not working

I hope that helps you on your land lording journey!

If you would like more help and you have not yet signed up, please sign up for my free land lording videos here:
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Posted in: Tenants

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