RE-160 Chapter Notes - Chapter 20: Personal Property, Damage Deposit, Tax Advisor
18 Dec 2020
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Chapter 20: property management: manager tips, landlord tenant act, tax benefits. Don"t focus on the highest rent, it"s more important to keep turnover time to a minimum. Lost time is more valuable than a slightly higher rental amount. One lost month can cost more then leaving the rent a little lower. Don"t wait till it"s empty, start advertising a couple of months before empty. Do outside painting and upgrades while the present tenant is still in place and play up the value of them thoroughly cleaning to get back full damage deposit. Remind present tenant that their lease ends may 31 and not on. June 1, so you can start the new lease on june 1st. Thoroughly screen your tenants credit and background checks // prior landlords. Check with landlords in previous renting as opposed to current landlords. Have a thorough knowledge of the landlord tenant act. Treat it as a business with all the structural elements in place.
