The Landlord's Survival Guide: How to Succesfully Manage Rental Property as a New or Part-Time Real Estate Investor
In The Landlord’s Survival Guide, Jeff Taylor shares fresh ideas and fresh perspectives that will help make any landlord more productive.\ - Leigh Robinson, author of ,Landlording: A Handy Manual for Scrupulous Landlords and Landladies.\ ""Mr. Landlord's ideas have increased the profits from my apartments every time I've applied them! If you want bigger cash flows and smaller hassles, read this book!""\ - Peter Conti, co- author of Investing in Real Estate Without Cash or Credit.\ ""Not only...
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In The Landlord’s Survival Guide, Jeff Taylor shares fresh ideas and fresh perspectives that will help make any landlord more productive.- Leigh Robinson, author of ,Landlording: A Handy Manual for Scrupulous Landlords and Landladies.""Mr. Landlord's ideas have increased the profits from my apartments every time I've applied them! If you want bigger cash flows and smaller hassles, read this book!""- Peter Conti, co- author of Investing in Real Estate Without Cash or Credit.""Not only is The Landlord’s Survival Guide great for new and part-time real estate investors, it is extremely helpful for new property managers who are starting out managing other people's property or for the long time property managers wanting new tips and a great reference guide."" - Melissa Prandi, author of the Unofficial Guide to Managing Rental Property and past president of the National Association of Residential Property ManagersThe Landlord’s Survival Guide by best-selling author Jeffrey Taylor, is for real estate investors just like you, who want full-time profits from their rental properties but only want to deal with them part time.Taylor, also known as Mr. Landlord, shows you a new way of managing properties in this competitive and ever-changing marketplace. Today's renters want things ""their way"" and this guide shows you how to give residents what they want while giving you what you want - maximum profits.Mr. Landlord’s step-by-step advice removes all the guesswork and gets you on the road to building wealth with rental property. This book shows how to: • Fill vacancies quickly with ideal residents even in a tough rental market• Identify and avoid “problem” residents and situations Collect on-time payments• Keep residents beyond the standard one-year lease period• Double your monthly cashflow and maximize your profits• Let residents to ""work with you"" to reach your real estate goals fasterComplete with all the action steps to help you implement Mr. Landlord’s money-making management system, The Landlord’s Survival Guide is a must-read for landlording newbies and veterans who want bigger profits.
DedicationivAcknowledgmentsixForewordxiIntroduction: The Steps to Long-Term WealthxiiiWhat This Guide Will Help You DoxiiiWhat This Guide Will Not Help You DoxivThree Preparatory StepsStep 1Develop the Right Mindset3Proactive Business Mindset3Goal-Directed Mindset4People-Centered Mindset5Team Member Mindset7Lifetime Customer Mindset7Challenge-Prepared Mindset8Step 2Identify Your Landlording Success Team11Family Members12Trusted Advisors13Residents18Step 3Study What You Must Know to Survive21Landlord-Tenant State Laws22Security Deposit Guidelines23Rules of Eviction23Fair Housing Act24Fair Credit Reporting Act25Lead-Based Paint Disclosure27Disability Discrimination and Service Animals28Section 8 Housing28Local Laws and Requirements29Other Areas Worthy of Study30Management Transition: Taking Over as a New Manager31Ten Most Common and Costly Management Mistakes35Seven Action StepsStep 4Fill a Vacancy with the Ideal Resident43IKnow Your Market-Do Your Homework48IIPrepare Your Property49IIIReduce Turnover Time52IVReaching Target Markets53VTest Marketing and Advertising Strategies57VIMarketing Help from Others59VIIUtilize Marketing Tools62VIIIShow the Property66IXFollow Up72XChecklist73Step 5Screen out Problem Residents75ISet Up Screening and Selection Procedures75Step 6Conduct New Resident Orientation85IAddress Potential Problems before They Occur85IIConduct a Walk-Through with a Property Condition Checklist86IIIIntroduce Win-Win, Moneymaking Management Policies87IVPerform Preventive Communication-Clauses Addressing Common Problems92VSchedule Continuing Resident Orientation93VIWarning about Illegal Clauses107VIIMonth-to-Month Agreement versus Fixed-Term Lease108Step 7Get Your Money111IDrop the Amateur Landlord Approach112IIRequest Automatic Payments113IIIOffer Incentives for Traditional Payment Methods117IVRemind Residents of Their Obligations120VProvide Alternative Ways for Paying121VITake Action When Residents Miss a Payment122VIIDealing with Problem Payments: Late Payments, Bounced Checks, Unsigned Checks, and Stolen Checks125VIIIGo After Payments Due Even After Residents Leave127IXTen Reasons NOT to Feel Guilty about Collections and Evictions132XChecklist133Step 8Maximize Your Cash Flow135IEducate Residents about Benefits of Leasing136IIOffer Custom Rental Home Packages137IIISystematically Remind Residents That They Can Rent More141IVHelp Residents Buy Beyond Their Housing Needs142VReview Leasing Terms146VINegotiate for Additional Income149VIIImplement Cost-Saving Management and Maintenance Practices150VIIICut Expenses151IXUncover Hidden Cash Flow Thieves153XIncrease Property Value156Step 9Keep Residents Long After Their First Anniversary159ICommunicate Starting on Day One159IITailor What You Offer162IIIPlug Your Residents into Your Property163IVOffer Loyalty Programs to Reward Long-Term Residents164VRemember Residents Throughout the Year167VIPlan Ahead for Repairs and Service169VIIGo the Extra Mile170VIIIAnticipate and Avoid Vacancies171IXRaise Rents without Scaring Good Residents Away172XConduct Exit Interviews174Step 10End all Relationships on a "Profitable" Note177IHelp Residents Get Back More Than Their Deposits178IILeave Door Open for Good Renters to Return180IIITransition Renters into Homebuyers181Final Challenge and Guarantee from Mr Landlord189Get Serious Now190AppendixEssential Rental Forms193Rental Application/Future Homebuyer195Sample Notice of Denial for Housing199Sample Rental Agreement200Sample Cosigner Agreement205Sample Property Condition Checklist206Mr. Landlord's Mini-Glossary207Resources209Books209Web sites210Special Free Offer for Buyers of this Guide!213Special Half-Price Offer for Buyers of this Book!215Index217About the Author223
