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Leases & Leasing Information |
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Landlord Tips And Tricks
Every real estate investor dealing in rental homes has done his own clean-up and fix-up, at least in the early years. Landlords also become very skilled at managing tenants after being burned a few times. You learn the tricks of the trade and how to get the best results for the least cost. Maybe a few of these tips will be new to you. You can give kitchen cabinets new life with a liberal application of Liquid Gold. Everyone has at least one chip or scratch in the porcelain on their refrigerator, bathtub, stove (except high heat surfaces), sink, washer or dryer. The solution? Touch up that nick with a tough porcelain glaze called "Porcelain Chip Repair". Just dab it on with the built in brush and it hardens in 24 hours. If your hardware store does not carry it you can find it with a Google search. You can quickly clean black scuff marks from vinyl floor covering with a squirt of WD 40 lubricant and a rub with a clean cloth. Put a shiny new strainer in the sink drain. Then install new handles and drawer pulls and you often have a minor kitchen miracle. Get rid of globs of sticky adhesive residue with Goo Gone. When tenants move out they seldom do a really good cleaning job on the oven... or the dishwasher. I'm sure you have discovered the many effective oven cleaners, but how about that gunk caked onto the inside of the dishwasher? Try a product called "Dishwasher Magic"... found in many markets and some hardware stores. The label reads "Removes Lime Scale, Rust & Buildup. Disinfectant". You just remove the cap... place the blue, plastic bottle upside down inside the silverware basket and turn the machine on. You might have to use two bottles if your first look into the washer causes you to run screaming from the house. When vinyl flooring is ready to be replaced use commercial grade floor tile instead. It lasts almost forever and it is cheap to replace a damaged tile now and then. Have you ever received an unsigned rent check? Here's a method that often allows you to deposit that check. Write or type the word "over" on the line where the signature would normally appear. On the back of the check type "lack of signature guaranteed". Add your company's name, and your name and title. Then you sign it on the back. This guarantees your bank that you will take back the check as a charge against your account if is isn't honored. Many banks will then process the check and remit the funds. This saves you the trouble of returning the check to your renter for a signature. Spot those bad checks with this tips. 90% of bad checks are numbered 101 to 150, indicating a new account. Legitimate checks have at least one perforated edge. Most forgeries are cutouts of copy machine created fakes. Checks dated more than six months ago are usually not cashable, no matter how much money the issuer has in his/her account. If the amounts written on a check in words is different from he amount written in numbers, the bank will pay the sum shown in words. If you receive a check with the date missing, it's legal to fill in a date reasonably close to the date you receive it. To predate or postdate the check by several weeks is a criminal act... don't do it. Remember, landlording is not for sissies. I hope these tips will save you a few dollars and a barrel full of aggravation. About the Author - Mark Walters is an investor and author. His published works can be found at http://www.CashFlowInstitute.com
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