MR. LANDLORD.COM TIPS ON MANAGEMENT

PORTRAY YOURSELF AS THE "HARD WORKING" LANDLORD
The way your residents perceive you is important. Do not portray yourself as
a fat cat that lights cigars with 20 dollar bills. Show up in work clothes
once in a while. You're an average "Joe", just like your residents, which of
course your not, because you own and they rent. But giving them that impression
helps them to be more motivated to follow your rules and take care of your
place. They see you and think "he's working for me, so I'll work for him". This
perception helps me get prompt rents and residents are more likely to take care
of my home.... my retirement nestegg.

FILL VACANCY WITH A TV
Buy a nice size TV. Bring it to the rental and leave it (in the box) on the
floor in the middle of the first room prospective residents will see. When they
ask you why it's there, say it goes with the rental to the first couple that
qualifies. It will have a big impact ? especially since it is also the last
room they see before they leave. Count how many people turn around to get
another look at the TV while they are looking around. It's funny. You'll also
get the place rented fast!

WARNING! DO NOT BE SWAYED BY THESE WORDS
Some deadbeat applicants have learned the right words to get amateur
landlords to accept them as new residents. Here are 5 prime examples:
1) Saying I'm a good Christian. - There are landlords that still love hearing
that and if you ask them about their tenants they'll say oh they're a good
Christian they'll be fine.
2) Saying they will do all the work that needs to be done in the house. -
There are landlords (mostly elderly, cheap landlords or women) that love to hear
things like that and will take them up on that in a heartbeat.
3) Asking if they can plant flowers. - That line still works or they wouldn't
keep saying it.
4) Offering the security deposit and rent in cash right on the spot. - This
works very often. Some landlords don't count rent on their taxes and offering
cash gives them tunnel vision.
5) Offering two months rent in advance - Oh this must mean they have a good
job etc.
I just hate the thought that some tenants are getting wiser and getting
landlords wrapped around their finger. I know this helps the playing field for
me but the problem I'm having to put up with is they ALWAYS TRY IT ON ME.

HOW TO RESPOND EVEN WHEN YOU FEEL GUILTY
Have you ever felt guilty when dealing with residents who are going through
hard times? Most of us have, but how do you respond?
The next time you are starting to feel bad about a resident's situation and
you are not sure how to respond, try responding with the following statement:
"I'm so sorry to hear you are going through such a tough time. I can only
imagine how hard this is for you." Then gently but FIRMLY get down to business
and let them know however that rent still must be paid as outlined in your
agreement. And you must follow through with your normal rental policies and
company's plan of action if payment is not made. All of the above tips are shared by
landlords on mrlandlord.com and reprinted with permission from MR LANDLORD
newsletter. For a free sample, call 1-800-950-2250 or visit their informative
web site at www.mrlandlord.com to register to win a free landlording book.

Mr. Landlord