Archive for November, 2007

7 Secrets to a Happy Tenant

If you’re new here (and you like what you read), you may want to subscribe to my RSS feed. Thanks for visiting! ScottNow I am not suggesting that you let the tenants live there for free or pay rent as late as they want, but I think there are 7 simple things you [...]

Now I am not suggesting that you let the tenants live there for free or pay rent as late as they want, but I think there are 7 simple things you can do that will keep them happy. And happy tenants will treat your property better, pay their rent on time, stay in your building longer, and recommend you to their friends as a good (possibly great) landlord.

1. Be friendly, respectful, and courteous always. Then when you need to be firm, they will know you are serious.
2. Answer your phone when the tenant calls or return their call promptly. Nothing is more frustrating when you have a question or problem and someone will not return or take your calls.
3. Stop by or call to just chat and see how they are doing. This lets them know you care about them as a person. Ask about their work, their kids, or what they enjoy.
4. Repair everything in the unit that the tenant calls about. Even a simple dripping faucet can fester into a frustration in time.
5. If the tenants have lived in the apartment for more than 2 years, touch up the paint in the main areas, paint a room a color that you both agree on, or shampoo the carpet. You are not only keeping them happy, you are maintaining your property.
6. If the tenant always pays on time and they call and tell you the rent is going to be late, forgive the late fee this one time. Even the banks do it!
7. Offer an incentive if they find a new tenant for you. I give my existing tenants $200 if they find a new tenant that signs a lease. It costs the same as a newspaper ad and much cheaper than a vacant unit.

It is cheaper to keep a tenant that to find a new one. These simple (and in many cases free) tips can keep your tenants happy and make your life as a landlord easier.

Scott Ficek is a Realtor with Keller Williams Integrity in Minneapolis and helps new and seasoned investors buy and own investment property in Minnesota. He owns and manages almost 30 investment property units from single family to multi-family. Find his website at www.minnesotainvestmentrealestate.com or receive his blog via your RSS Feed or in your Email.

Tenants Witholding Rent until Repairs are Completed

This is a strategy that some tenants will use to forgo or delay paying rent. Although this is a legal maneuver in the state of Minnesota, the tenant must follow strict guidelines or be subject to eviction. As a landlord, it is good to understand what items the court will be looking for [...]

This is a strategy that some tenants will use to forgo or delay paying rent. Although this is a legal maneuver in the state of Minnesota, the tenant must follow strict guidelines or be subject to eviction. As a landlord, it is good to understand what items the court will be looking for so you can decide whether to proceed with eviction or to meet the tenant’s demands.

If you go to court, here are some items the judge will be looking for:

• Did the tenants have a copy of a written notice they gave you that outlines what repairs they believe are needed?
• Have the tenants given you enough time to complete your repairs?
• Does the tenant actually have all the rent money? If so,the judge may require them to prove the funds availability.

What you should bring to eviction proceedings:

• Pictures of the areas/items that the tenants claim need to be repaired.
• If the work has been completed, receipts from the contractors or suppliers to repair items (and pictures).
• If the repairs are needed because of damage caused by tenants, pictures previously taken of area may help.
• If the repairs are scheduled, but not completed, bring a time line with you to court to show the judge you are working on the problem(s).

The judge can make several rulings:

1. S/He can order the landlord to make the repairs immediately and have the tenant hold the money until completed.
2. Order the tenant to pay the court or landlord until the facts are proven against the landlord.
3. Require the landlord to accept less for the apartment as a remedy to the tenant.
4. Pay the outstanding rent to the court for safekeeping until the landlord makes the needed repairs.
5. Rule that the tenants request(s) or reasoning for withholding the rent is baseless and order the tenants to pay immediately (including eviction filing fees), or be removed from the premises.

Exception: If the property has been condemned by a government agency or department, the tenant typically can not be required to pay rent and typically the damage deposit must be returned.

Written documentation is your best defense against a tenant that is trying to avoid paying rent.  If you are maintaining your properties and feel that your tenant is trying to take advantage of you, I recommend that you process an eviction against them and let the court decide who is right.

Scott Ficek is a Realtor with Keller Williams Integrity in Minneapolis and helps new and seasoned investors buy and own investment property in Minnesota. He owns and manages almost 30 investment property units from single family to multi-family. Find his website at www.minnesotainvestmentrealestate.com or receive his blog via your RSS Feed or in your Email.

Scam: How to Sell your House in 5 Days

I came across this story today on Realty Pupil.com today. If the author of the Blog had not actually been the one that found this scam, I never would have believed it. This is his first hand account of how an unlicensed group of people put a house, in a nice neighborhood, on [...]

I came across this story today on Realty Pupil.com today. If the author of the Blog had not actually been the one that found this scam, I never would have believed it. This is his first hand account of how an unlicensed group of people put a house, in a nice neighborhood, on Craig’s list claiming it must sell in 5 days or they will lose it to foreclosure. The group prices the house about 20% below the neighborhood norm and get 100’s of calls.  Even though the author thinks it is too good to be true, he plays along, only to find out it really was a scam.  Read the details here.

Scott Ficek is a Realtor with Keller Williams Integrity in Minneapolis and helps new and seasoned investors buy and own investment property in Minnesota. He owns and manages almost 30 investment property units from single family to multi-family. Find his website at www.minnesotainvestmentrealestate.com or receive his blog via your RSS Feed or in your Email.