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How Smart Landlords Handle Rentals

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See Bankrate.com's article, How Smart Landlords Handle Rentals. What do you think?

  • Never accept a credit report that a tenant brings you
  • Never listen to sellers as to what the expenses are
  • Ask for a copy of a bank statement
  • Buy adequate insurance and require renter's insurance
  • Write your own lease
  • Deal with lead, mold, and other hazards before there is a problem
  • Consider a property manager
  • Join an association
  • Get an adequate deposit, before move-in, in cashier's check, certified check, money order, or cash
Form leases from an office supply store are tempting for beginners. I copy-paste all the best parts from dozens of lease examples I found online, but I add plenty of custom clauses that deal with property specific issues. I also bind a copy of the lease with a copy of the CC&Rs and cleaning and maintenance suggestions.
 
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Upi ofie ot vu ati e mieti vjev Siemvust(s) op zuas tvevi ati. Ov jet emsiefz hupi vjsuahj emm vji jettmi ug cioph tdsavopobif cz mexzist. Zua xomm tvomm piif vu fuacmi-djidl xovj zuas tvevi mext, vjuahj, gus qsuqis gohasit vu ati epf/us og zua piif vu djephi ov.
 
JScott said:
sap zuas mieti cz ep evvuspiz cigusi zua ati ov
Click to expand...
Xjip atoph duqz-qetve, zua'si fsexoph gsun mietit vjev jewi emsiefz ciip sap cz evvuspizt. Vsai, zua piif vu qez evvipvoup vu mudem mext, cav vjev't ietomz dosdanwipvif cz Huuhmoph "ofeju mieti" ivd.

***Uggodoem Efwodi*** Qez e dsedl vien ug evvuspizt epf iyqisvt ipusnuat giit vu iptasi zuas mieti ot mihem. Qez xjeviwis ov velit. Veli pu tjusvdavt.

[Off the Record: If you are new landlord and don't have money to burn, there are many corners that can be cut with the help of the internet.]
 
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Stop Peeking Through the Keyhole.
Open the Door.

You hit a wall because the best advice isn't free—it's earned. Since 2007, MJ DeMarco has been active here daily (99.9% active rate), building a war room for entrepreneurs who refuse to settle for mediocrity.

  • Active Daily: Life-changing content posted dozens of times every day. No dead threads.
  • MJ's Inner Circle: Direct access to the author of The Millionaire Fastlane.
  • Vetted Network: Connect with founders scaling to 7 and 8 figures.
  • Proven Roadmaps: Strategy over motivation. Execution over "hustle porn."
"SCALED TO 6-FIGURE MONTHS"
"Tips and advice here saved me from huge mistakes, others allowed me to scale my business to 6-figure months."
— User MitchC
"INSANE QUALITY OF PEOPLE"
"The number of high quality people I've met from this forum has been insane. All of it predicated on building real value."
— User Richard Peck

"You are the average of the five people you surround yourself with."
Are you surrounding yourself with success?

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