Marketing Tip # 24- Actually today’s tip is going to be a landlording tip. Here is my advice to landlords and budding landlords out there. Number one you need to have a kick butt tight lease agreement. I personally started with Louis Brown’s lease agreement many years ago and then we have tweaked it over the years based on Florida laws. Second hold your tenants to the fire. We do not accept late rent for starters. Rent is due on the last working day of the month and if it is not in the office by 5 pm on the first we automatically serve a three day notice, no exceptions. Remember if your tenant pays you can always change your mind. Take a full set of photos before your tenant moves in and use a move in condition sheet. Then take a complete set of photos when the tenants move out. We were just in court this week for damages against a tenant who was evicted. Property condition was awful, wish they had smellivision. In any case we got in front of the judge on Thursday (it went to trial) and we ended with a judgment for almost $9,000. As soon as the courts post the judgment our collection folks will be on it. We have been paid for many judgments throughout the years. Don’t be afraid to follow up with the collections on these judgments, it’s your money. For more information on Kathy Kennebrook, Landlording or Finding Motivated Sellers and Marketing for your real estate investing business check out Kathy Kennebrook’s website at www.marketingmagiclady.com. While you are there be sure and sign up for her free monthly newsletter.
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Kathy Kennebrook®’s Attract Motivated Sellers
Kathy Kennebrook®'s Real Estate investing blog