Tips For Land Owners
Nobody desires to pay out money- The fact remains that being a land owner you purchased the property to earn! But here are a few pointers to spending money at the correct place which would definitely save you a lot of money in the future.
1. Landscaping: It is worth spending money on landscaping. The expenses would include costs for the property water bill and the landscaper. Even though your tenant would be greatly excited with a well kept yard, but the reality is that he would hardly put in any efforts to maintain it. You could act in a wise manner and install the reasonably priced sprinklers and leave it up to the gardeners to take care of it.
So now that you've got a lovely lawn and the upkeep is in competent hands, you need to consider advertising! If you don't present your property to prospective tenants, they'll never come- how can they, if they don't know you're there? The first and most obvious thing to do is to place a sign in the front of the property that states you are now leasing, but then you must branch out from there, especially if your area sees little traffic. Now, I'm not going to tell you to invest in newspaper ads and such- those are costly and besides, the print media sees fewer and fewer readers anymore. Instead, turn to the Internet, where certain sites offer FREE advertising. Try putting your ad up on Craigslist, to start with. You'll get tons of views and not have to spend a penny.
When those prospective tenants finally find you, they're going to want to deal with a company; something that looks professional and trustworthy rather than just a single person who may or may not be competent! A small investment can net you an 800 number and a P.O. box, giving yourself both a separate place for tenants to contact you and professional looking contact info. This carries the added benefit of privacy, preventing your tenants from knowing where you live, or getting their calls on your cell phone at all hours! You must be sure to keep boundaries set. Your tenants can tend to feel entitled, and if they do develop such attitudes, let it all go to your alternate contacts. In this manner you can keep your life separate and not be enslaved.
4. Lease Agreement: You must spend the amount that is needed to prepare a legally sound and accurate lease contract. Even though you may purchase a legal agreement from an office supply but such an agreement would be very common and would not include the legal clauses that would protect you in worst cases. Each state has different set of laws and if you are not aware of them then it is always a better option to look for a place from where you could prepare a sound legal contract.
Finally, your property is gorgeous, people have heard about you and you've acquired tenants. From this point onward DO NOT be shy about collecting rent. If someone is late or shows signs of non-payment, don't be afraid to spur him into action with a Three Days to Pay or Quit Notice sitting in his mailbox. It'll scare him enough that he won't be late again. Stay strict and they will pay up. But, if someone still doesn't and you find yourself having to evict them, since you've kept up front about it you'll begin the process exactly on time, preventing you from losing potentially costly days.
Hence by spending some money in landscaping, advertising, improving you image, lease contract and being prompt in sending late notices to the tenants you are sure to save a lot of money in the future. - 23217
1. Landscaping: It is worth spending money on landscaping. The expenses would include costs for the property water bill and the landscaper. Even though your tenant would be greatly excited with a well kept yard, but the reality is that he would hardly put in any efforts to maintain it. You could act in a wise manner and install the reasonably priced sprinklers and leave it up to the gardeners to take care of it.
So now that you've got a lovely lawn and the upkeep is in competent hands, you need to consider advertising! If you don't present your property to prospective tenants, they'll never come- how can they, if they don't know you're there? The first and most obvious thing to do is to place a sign in the front of the property that states you are now leasing, but then you must branch out from there, especially if your area sees little traffic. Now, I'm not going to tell you to invest in newspaper ads and such- those are costly and besides, the print media sees fewer and fewer readers anymore. Instead, turn to the Internet, where certain sites offer FREE advertising. Try putting your ad up on Craigslist, to start with. You'll get tons of views and not have to spend a penny.
When those prospective tenants finally find you, they're going to want to deal with a company; something that looks professional and trustworthy rather than just a single person who may or may not be competent! A small investment can net you an 800 number and a P.O. box, giving yourself both a separate place for tenants to contact you and professional looking contact info. This carries the added benefit of privacy, preventing your tenants from knowing where you live, or getting their calls on your cell phone at all hours! You must be sure to keep boundaries set. Your tenants can tend to feel entitled, and if they do develop such attitudes, let it all go to your alternate contacts. In this manner you can keep your life separate and not be enslaved.
4. Lease Agreement: You must spend the amount that is needed to prepare a legally sound and accurate lease contract. Even though you may purchase a legal agreement from an office supply but such an agreement would be very common and would not include the legal clauses that would protect you in worst cases. Each state has different set of laws and if you are not aware of them then it is always a better option to look for a place from where you could prepare a sound legal contract.
Finally, your property is gorgeous, people have heard about you and you've acquired tenants. From this point onward DO NOT be shy about collecting rent. If someone is late or shows signs of non-payment, don't be afraid to spur him into action with a Three Days to Pay or Quit Notice sitting in his mailbox. It'll scare him enough that he won't be late again. Stay strict and they will pay up. But, if someone still doesn't and you find yourself having to evict them, since you've kept up front about it you'll begin the process exactly on time, preventing you from losing potentially costly days.
Hence by spending some money in landscaping, advertising, improving you image, lease contract and being prompt in sending late notices to the tenants you are sure to save a lot of money in the future. - 23217
About the Author:
Layla Vanderbilt is the content coordinator for a leading property management solution review website which connects people with the leading property management tools.
posted by X - Men @ 10:01 AM
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