August 2008

Issue No. 12, August 2008

Getting a Landlord Education

“Formal education will make you a living; self-education will make you a fortune.” — Jim Rohn

Intentionally – or not – many realtors and homeowners are finding themselves at the helm of managing a rental home with not a clue how to lease it, manage the property or the tenant. While many dial a property management professional advertising their company on Rentals.com, some brave souls delight in this challenge and try to do it themselves. After all, how hard can it be? Then reality sets in. Never fear — there is help. You can start by looking online.

Here are a few sites to search:

Visit www.nolo.com and look under the green Property and Money tab for the Landlords & Property Management section.

Visit www.narpm.org to read about educational opportunities, professional designations as well as to familiarize yourself with the professionals in your town.

Visit www.thelpa.com and www.mrlandlord.com to obtain an arsenal of specialized landlord tools.

Also, here are some great tips on renting and leasing real estate.

Finally, you can find legal rental documents at your local post office or Office Depot.

Smart Idea – Enforcing Late Fees

Tell the tenants at the lease signing that you enforce late fees and point to where it is written on the lease agreement. Explain that rent must be turned in before the deadline and that there are NO exceptions. Late fees are NEVER withdrawn. This will make it easier on you when the tenant tries to talk you in to withdrawing the late fee.

Got a Smart Idea of your own? Share it at mailto: comments@rentals.com

Child Mentoring – Is it for Me?

If you have recently asked yourself this very question, then your answer could very well be yes. Through mentoring you can offer the greatest gift of all – your time – and discover that mentoring is a shared opportunity for learning and growth.

Adults often volunteer for just one year, gain knowledge about them selves and reap benefits that last a life time. There are many web sites that can help you explore if mentoring is right for you. Check out http://www.mentoring.org/ to find out more about mentoring and what opportunities are near you. Click on “Be a Mentor” and “Become a Mentor”. And you can select “Common Concerns”, “Questions to Ask Programs” and discovering “What You Have to Offer”. You will also see a “Support for Mentor” section, which provides you guides on how to be a great mentor.

There are many other resources providing national and local information and support. Check out these great sites for even more information.

http://www.bbbs.org

http://www.savethechildren.org/get-involved/

Upcoming Events
Date	Location	Event
August 20	Atlanta, GA	Showcase 2008 – SE Residential Real Estate
September 8-10	Ocean City, MD	Maryland Association of Realtors
September 9-11	San Antonio, TX	Texas Association of Realtors
September 24-27	Kauai, HI	NARPM National Convention
September 24-28	Lake Buena Vista, FL	Florida Association of Realtors
September 24-28	Baltimore, MD	Virginia Association of Realtors

In This Issue:

»Getting a Landlord Education
» Rob’s Tips
»Child Mentoring
» Smart Tip

Growing Your Property Management Business

So you want to manage more rental properties? Want an easy way for more homeowners and investors to find you? Today Rentals.com, Rentalhouses.com and now RentList.com offer an amalgam of ways for you to maximize your company’s exposure. Check out our brand (banner) advertising on the Metro Search and Find A Property Manager pages. Here you can advertise your business, services and web site straight to the homeowners in search for a manager. The Rentals.com Family of Sites already has optimum search engine rankings. We’re already just one click away from Google page 1. And now your company can be at the forefront of our success. Email us or give us a call, we’ll be glad to show you more.

RentList.com

Rob’s Tips

Has Your Tenant Under Eviction, Vacated?

This question relating to what appears to be an abandoned rental house sometimes lingers when some items are left inside. The legal method for taking possession in these types of situations varies from state to state and community to community. But, sometimes it is very helpful to know whether or not someone is periodically entering and leaving the house that you own and/or manage in these cases.

Long ago I learned a little trick from a private detective TV show that has served me well over the years. Place a small piece of paper about 12 inches up from the floor between the door and door jamb on the side opposite of the door knob. If this is done on every outside door then later it can be determined whether or not someone is opening the door. Knowing whether or not someone is actively entering and leaving may play a role in how to proceed on taking possession.

Rob Massey Jr., is a Certified Property Manager (CPM) and past President of the Louisville Chapter of the National Association of Residential Property Managers (NARPM).

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