Archive for February, 2011

DO YOU HAVE A GOOD PET CLAUSE?!

We recommend that you include a “pet clause” (pun intended!) in every lease or rental agreement you enter into. It doesn’t matter whether or not you allow pets in your property . . . always include language concerning conditions for having a pet. If you don’t allow pets and you lease it with that condition, Tenants have been known to bring pets in anyway (say it isn’t true!). Seriously, a Tenant may get the emotional tug at their heart strings by a cute, sad-eyed puppy and they simply can’t resist. They buy the dog and decide to hide it from you. If that dog . . . especially if it is a puppy, causes damage to your rental property, and you have no terms and conditions the Tenants have agreed to, recouping costs for repairing damage caused by the animal can become fuzzy at best. If you allow pets and your Tenant signs your agreement regarding pets all the better!

For our lease addendum form including a pet clause with “teeth” (sorry, I couldn’t resist) or more tips on how to effectively manage your investment property, visit our web site at: http://www.ManageToMakeMoney.com or call 949-689-4344.

See the Video: http://bit.ly/fwdptV

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ALWAYS Collect Move in Funds in “Real Money”

Always collect move-in monies from your Tenant in “Real Money” When you have a Tenant getting ready to move into your property, typically you will trade them the keys to the property for their final balances due; deposits and first month’s rent.  Always collect these funds in what we call “real money” . . . cashier’s check or money order.  Unscrupulous Tenants have been known to pay their move-in funds with a personal check, get their keys and stop payment on their check.  Then the Landlord (you) have given possession to the Tenant, have no money, no income and a couple of months of legal wrangling to look forward to before you can get your property back.  And don’t forget about the make ready costs to market your property again!

See the video:  http://bit.ly/ba3i8W

 For more tips and forms and educational tools to help you to effectively manage your rental property, visit our web site at: http://www.ManageToMakeMoney.com or call 949-689-4344.

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