« Owning Real Estate in an IRA | Main | Make your ambitions your own »

Landlord tip: Silence is not always golden

Recently a friend sent me something that’s probably floating around the internet. The subject line was: “Got beer? A landlord’s worst nightmare.”

The e-mail told the story of a single man who lived for eight years in a townhouse in Ogden, Utah. The landlord thought the guy was a great tenant because he never called, never complained, and was never late with the rent.

When the man moved out, there was no dust, scattered clothing, or dirty dishes anywhere. There was, however, an estimated 70,000 empty beer cans in the townhouse. The cans were everywhere, and the tenant had made tunnels between the bedroom, bathroom and kitchen. Do the math – this tenant consumed an average of 24 cans of beer a day during the eight years he lived there. Of course, it was “light” beer, so perhaps he was concerned about his health.

The point of sharing this story is this: Even when you have what appears to be the perfect tenant, you need to periodically do a physical check of all your properties. Certainly respect your tenants’ privacy, but at the same time, protect your investment. Some landlords combine checking their units with performing some type of regular maintenance so the inspection doesn’t seem intrusive. Or when it comes time to renew the lease, suggest doing it at the rental unit.

If you’ve got some tips for doing subtle, non-intrusive property checks of occupied units, let me know and we’ll share them.

Jackie

Comments

WE USE THE EXTERMINATOR EXCUSE.WE HAVE OUR PROPERTIES SPRAYED ONCE A YEAR,AND I GO ALONG WITH THE EXTERMINATOR TO SEE ALL THE AREAS AND ROOMS. IT'S ONLY ABOUT 30-40 DOLLARS PER UNIT. WELL WORTH IT AND IT GETS YOU IN VERY EASY AND TO "ALL" AREAS OF THE RENTAL PROPERTY

Post a comment

(We welcome your comments but ask that you keep them relevant to the specific topic/blog entry. In addition, we reserve the right not to post and/or to remove any inappropriate or blatantly self promotional comments. Thank you.)

55x130 WISC logo.jpg


Reads and Links

E-mail me at chiefblogger (at) wiacademy.com (Please use the traditional @ symbol and e-mail address format; I'm listing it this way here to avoid spam.)

Below are some links you may find of interest:

Wealth Intelligence Academy

Credit Card Tips


Receive an e-mail notice every time I post a new entry.

Enter your Email


Powered by FeedBlitz