Super Landlord Tip 1:
Include in your lease the following wording: “Resident agrees to pay Landlord a service charge of $25 if it is necessary to deliver a legal notice for any violation of the rental agreement to this address.”
Super Landlord Tip 2:
Put together a list names and phone numbers of five or ten churches or agencies in your area who are willing to help residents unable to pay rent. Whenever you have a resident with a good track record of paying rent on time, but one month has a “legitimate” problem that is making it difficult to pay, give the tenant the list. They may be able to help out.
Super Landlord Tip 3:
Whenever you sign on new residents, tell them you look forward to working with them for the next three years as one of your “preferred” customers. Let them know they will receive special service as a preferred customer, such as having their carpets cleaned every year. This will triple the lifespan of your average resident and keep good tenants longer.
Super Landlord Tip 4:
Ask residents if they would like a ceiling fan, mini-blinds, or a color television added to their rental for a small monthly fee. One out of four (or more) will probably say “yes.” You should recover your expense for the item within 3 to 6 months. From that point forward, the extra payment is extra profit. Plus, your tenant is happy.