We’ve identified the Top Three Things Investors do that costs them money!
They fail to take a deep look into their applicants
Often times owners only look at the report given by their screening service, but this may not be enough. Many owners fail to verify identity through public records, contact verified previous landlords for rental references, confirm employment or income, or really take time to understand their credit report. Using proven systems and algorithms can go a long way in ensuring you pick a qualified tenant for your rental property, and that all applicants are treated fairly.
They do not inspect their rental properties regularly
Rental properties should be inspected annually at a minimum to ensure the home stays in good condition. If tenant-caused damage is noted in a routine inspection, the damage can be repaired and then billed back to the tenant. This cuts down on high turnover costs at move out and the need for drawn out collections afterward.
They get stuck with huge utility bills at move out
When a renter is in charge of utilities, it’s impossible for an owner to know if the bill is paid. However, if you set up a system to bill tenants for the water as part of rent, it provides transparency for everyone. Owners can pay the utility bill directly, and if a tenant does not pay the utility bill with their rent, they get a late fee for non-payment.
Our Guarantee
If within six months we haven’t made you completely insanely more happy that you invested in real estate, we encourage you to evict us. No strings attached. Just kick us to the curb and we’ll do whatever we can to make the transition easier.
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