The next one to learn is to become a master networker with your tenants to significantly reduce leasing fees and find better quality tenants. Birds of a feather flock together. If you've got some good tenants contact them to find out if they know anyone who's looking for a house to rent; be willing to pay these tenants for referring people to you. If you get them to do this before you have vacancies, so if you've got houses that will be vacant you can execute a waiting list for your house. the conversation goes like this: I've got a couple houses. They may be coming vacant in the next month or two. Do you know anyone looking for housing? You've been a great tenant I am sure you know some people that would also be great tenants. If we get someone in the house I am willing to install a ceiling fan in your house for free. They usually charge twenty dollars a month extra for that, but we can give it to you for free or I'll send you a pizza coupon for a pizza each month for a year. You give them anything that would work.
Now, instead of having a month of shown a vacant property lost rents and advertising cost in addition to the high possibility of vandalism to the property. You have a tenant ready to move in when you get your notice from the current tenant. So you can either spend the time with vacancies and even some advertising or we could do this in advance. Save yourself a lot of money and get a better quality tenant. You need to show people respect and that you appreciate them. Doing this they tend to stay longer and make better tenants. That's just human nature. Remember your goal as a rental investor is to keep great tenant as long as possible, create a great living environment and be the landlord that every renter wants to rent from.. I can help you obtain that goal of higher rents lower vacancy times and reduced maintenance cost. go to my web site and get the free eBook I have available for the next few days. I only have 20 copies left and when they are gone that's it.
Thanks Brad Meyer