21st May 2011

How To Handle A Creepy Landlord

This is one of  a very few number of posts you will see here on Landlord-Success.com that is written from a tenant’s point-of-view. This post was inspired by a friend of mine (yes, landlords have friends too) who lives in Denver, Colorado.

This friend called me today to bemoan the fact that she’s, in her own words, “all jammed up” about a situation where she signed a lease and paid her deposit only to realize after the fact that her landlord and various associated employees are at the very least behaving in an unprofessional and demeaning manner while also not living up to their role as property managers.

Before she moved in, she was told that her unit would be painted, an appliance replaced and various plumbing issues would be repaired. Well, fast-forward two weeks to when the place full of boxes of her belongings, including all the headache that entails, and none of the above work was done. A call to the “property manager” was met by a person who behaved like the were doing my friend a favor by answering the phone. She was informed that she should be patient and that a maintenance person would be out to make the promised repairs. Read the rest of this entry »

posted in Care and Feeding of Tenants | 1 Comment

28th April 2011

Now Available On Your Mobile Phone

Recently, while studying the traffic statistics for Landlord-Success.com,The Android Robot I noticed that about 5% of the traffic comes from mobile devices such as iPhones, iPods and devices running Android. While 5% of the traffic is not a whole lot of people, I personally find it ultra-convenient to read news and blogs on my phone when some other nonsensical activity is wasting my time. Read the rest of this entry »

posted in Site News | Comments Off on Now Available On Your Mobile Phone

19th April 2011

Settling Domestic Disputes Among Tenants

While I was out getting some exercise one afternoon apparently two tenants living in a single rental property of mine, decided to break-up. Oh joy. The back story is that these tenants had just moved into town from another state. They have two kids between them and one on the way.

I returned to find no less than 12 missed phone calls from the two of them and upon listening to their messages, I understood that they were splitting up and they would like their pre-paid rent back. After speaking with both of them, I explained that they can get out of the lease but that there would be penalties. They would have to forfeit the security deposit and two months’ rent.

The gentleman of the house asked me during the phone call if I could come to the property and change the locks. I let him know that I would come to the property the next day even though I had no intention of changing the locks. Read the rest of this entry »

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6th April 2011

The Lease Option Landlord – Part 2

Setting a Lease Option Future Sales Price

There are three schools of thought when setting a lease option price:

1.    Use current value

2.    Use estimated value at time when contract is to be exercised

3.    Set the price at future market value

To be quick and easy, you can use option 1 by finding today’s value for a similar property, or by using the positive cash flow with some notion of a current cap rate. Read the rest of this entry »

posted in Real Estate Investing | Comments Off on The Lease Option Landlord – Part 2

30th March 2011

The Lease Option Landlord – Part 1

Down markets create amazing opportunities for the investor.  However, a landlord who is sitting on one or several properties might be real estate rich, but cash poor, and unable to tap into those current market buying opportunities.  In those situations landlords would traditionally sell one of their properties and apply that money to a new purchase, preferably one that offers a higher return than the property previously sold. The only problem is, as mentioned before, the down market might be forcing you to sell your property for less money than you originally expected, or worse- for a loss, and neither of those situations is ideal.  What’s an investor to do? Read the rest of this entry »

posted in Real Estate Investing | Comments Off on The Lease Option Landlord – Part 1

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