Owner & Partner Tips

This is useful for people doing lease/options.

Increase The Rent Credit	This method enables your property to look juicier without impacting your cash flow.
Lower The Down	You don't need to go crazy. $100/week will probably do the trick. Be a little careful about lowering this too much as you will enable crack heads to afford your place.
Lower The Monthly	This should only be done in $50 increments.
TIP	Broadcast emails are sent every Monday. If you "reduce" your property before Sunday, your property will hit over 700 prospects. It is up to you to contact me to modify your numbers.

Get Access	If you are on good terms with your tenant, you will call them and politely indicate that a lock box will appear on their property. A 24 hour notice will be given prior to showing the property. Offer them a free dinner if they cooperate.
Schedule Cleaning	The moment they move out, you should have a cleaning crew and carpet shampoo scheduled.
Schedule Light Repairs	The little dollar items can make a big difference. If you are uncertain about this, call me.
TIP	Most lease/option buyers will bring their own appliances so don't buy any. NEVER EVER NEVER purchase new appliances. If you have money burning a hole in your pocket, buy from a used appliance store.

Get the carpets cleaned, remove the dog crap and sweep up the dead roaches. Women have issues with a house being dirty. If your house is dirty, your chances drop 50% because there is a 50% chance a woman will take one whiff and turn around and never step inside. The $400 you spend cleaning up the house will pay for itself easily.

Have it serviced yearly even though the contract states that your tenant is responsible. The $45 you spend will save you thousands and keep a good tenant/buyer. I also recommend that you drop off "free filters" from time to time to encourage your tenants to replace them frequently. Just about every summer month, an air conditioner bites a seller in the butt.

Very few properties move between Nov 15th and Jan 15th. Everyone has Thanksgiving, Santa and booze on the brain. No one likes to move during the holidays. If your property doesn't move by November 15th, hunker down for a long winter. Smart owners lower the price dramatically Oct 15th to get their property occupied.

You will get emails from me about twice a month until your property moves. The purpose of the emails is to give you some feedback on inquiries, appointments or general status of your property. The only time I will ever call you is if I have a deal going. Calling me and asking "what's happening?" is just wasting your time. If you are going on vacation or out of the country, just drop me a quick email so I can make notes on your property. My competitors and I have no problem with people going on vacation. Going missing for a week without telling me will remove you from the Las Vegas Lease/Option pool forever. Every month some retarded owner does this...

Put garage door openers, mail box keys and other keys in the kitchen drawer. One less thing you need to keep track of and this simple little task will save us all headaches. Deals happen quickly and I love to be able to say "everything you need is in the kitchen drawer." Every month, some partner has to spend $40 to Fed Ex a garage door opener or pay $35 for a lost mail box key.

Direct deposit is the way to go. The "lost in the mail" issues go away and you will hear fewer country & western songs. If you have multiple "similar amounts" from multiple tenants, give them pre-printed deposit slips with the property address in bold so that it can easily be read after it's scanned and posted. I'm cheap, I just photo copy them and cut them up. If you get freaky about someone having your account number, create a new bank account with a nation wide bank to be used as a clearing house for monthly deposits.

The last thing you want your tenant/buyers to know is where you live. Since there is a 90% chance your buyer/tenants will not complete their lease/option, there is a 40% chance they will be pissed at you. This costs you about $15/monthto get a UPS box. This box appears as a physical address and is really handy to have for a variety of reasons. You also want to make sure county records show this address as the owner of record. If a lien is placed on your property, you want to know about it and you don't want your buyer/tenants to conceal anything from you.

Don't procastinate. If your tenant is more than 3 days late, contact them (with respect) and then contact me immediately so I can stay on top of them. If they don't return your call, a 5 day notice will certainly get their attention. I evict people all the time so let me help you.

Your tenant is a buyer. They will be buying your home. Treating them with courtesy and respect is huge!!! Pissing them off will cost you big - you will lose them and your property could get destroyed. Treating people with respect doesn't cost you anything so pay attention to your verbal skills. If your tenants are late paying, contact me, I know how to get the issue resolved while treating them with respect. Even if your buyer/tenant has gambling, alcohol or drug problems, they deserve respect and you can avoid massive repairs by just being courteous.

Remember, these people are buying your home. Sniffing around without cause will just piss them off. If a neighbor complains about noise or has concerns about drug activity, you should call before visiting. "Hi Joe Buyer, a neighbor has complained about loud noise. Is this something I should deal with or can you folks work something out?" usually does the trick. Your lease agreement enables you to evict them for being a nuisance but this should only be used as a last resort. If you suspect meth is being cooked at your property, call 311 immediately and explain why you are suspicious.

Tweakers get evicted because they eventually go to jail, get killed or stop paying. You must show no mercy and post 5-day notices at every opportunity. My favorite technique is to rent a storage unit for them and offer them $500 cash to move out. The $500 is for having ALL the debris removed. The faster they move out the better shape your property will be.

I have never lost a battle in court and most of my evictions result in "elegant departures." I will keep you posted through every step and most likely end up with a property in good condition. I evict about 2 families a month and do everything possible for them to leave with their dignity and your property in tact.

If you really want to be on top of your game. Read this page: common mistakes.