Posts Tagged Landlord
MANAGING YOUR RENTAL PROPERTY – FINDING A GOOD PROPERTY MANAGER
Posted by patandkrislarkin in Property Management on April 3, 2012
How Do You Find A Good Property Manager?
So you decided you don’t want to manage your own rental property . . . learning that you may not be cut out to manage rental property is a good thing! It’s much better to find out now than when you find your self in a difficult situation because you didn’t know what you were doing!
Finding a good and reputable property manger isn’t as difficult as it may seem. We recommend that you start by contacting your local Board of Realtors and get a list of managers from them. If that doesn’t work or isn’t convenient, then Google for property managers: “property management any town, any state”. A third option is personal referrals, contact your realtor friends or others who may know a property manager.
Once you have your list, visit their web site and then narrow the list to 2 or 3 and visit their place of business and interview them personally. When you go for the interview, note how organized they seem to be . . . or not. Then, ask questions to see if the two of you communicate well and on the same level and if you have the same values of money. The right manager for your property will become apparent to you.
See what Kris Larkin has to say about finding a good property manager . . . VIEW VIDEO
For more tips on how to profitably manage your rental property and about finding a good property manager visit our website at: www.ManageToMakeMoney.com or call 949-689-4344. Our book devotes an entire section to this subject.
Thank you for reading!
Pat and Kris
RENTAL PROPERTY MANAGEMENT – TENANTS BREAKING THEIR LEASE
Posted by patandkrislarkin in Property Management on March 23, 2012
Tenant Breaking Their Lease
Life happens and Tenants break their leases for many reasons . . . they can’t pay any longer and are skipping out or something as innocent as getting a great deal on a short sale and just learning that they have to close in 2 weeks . . . YIKES!! Either way, you have to know the Tenant’s and your responsibilities when this happens.
As you probably already know, the Tenant has the responsibility for the rent through the end of the term of the lease as stated in their lease agreement . . . and to leave all the utilities on and pay for them until the property is re-leased (if you used our lease form). You, as the Landlord, if you want to be able to collect any rent through the end of their lease term, must immediately and diligently market the property for lease again. Be careful not to market the property at a higher rent amount than the previous Tenant paid or you may have difficulty in collecting money for lost rent in court if . . . you “Jacked the Price up” which is how a judge may see it. You will only be entitled to the lost rent between the time your previous Tenant vacated or last paid rent and the beginning of a new lease with your new Tenant . . . no double dipping!
One other very important detail, as soon as the Tenant vacates the property, do an “Estimated” final accounting of their security deposit . . . or Move Out Statement. Of course you won’t know all the final numbers when you prepare this and that is why it is called an “estimated” statement. But, in this statement, you are going to assume that you will not find another Tenant for the property before the end of the lease term. You will also estimate the costs of any repairs over and above “normal wear and tear” the Tenant may have caused. This will show a worse case scenario. Send the statement out within 21 calendar days (in the State of California) of the Tenant moving out with a check for any amounts left over from the funds (typically security deposit) you are holding for the Tenant.
Within 21 days (calendar) of all the repairs having been completed and either the end of the lease term has come or your new Tenant has moved into the property, you will need to do what I call a “True-Up” Move out statement. This will show all of the actual costs to your Tenant, giving them credit for any time of their lease that the new Tenant will be in the property (you can’t double dip on rent) and cut a check for any differences. Oh yeah, be sure to include copies of receipts for all work performed that you are charging the Tenant for.
The subject of Tenants breaking their lease along with many other property management challenges are covered extensively in the new Property Management Training Program; Manage to Make Money . . . . the Real Estate Series. This new series has been developed around the book: Manage to make Money . . . Your Guide to Profitably Managing Rental Properties (available for California, Oklahoma, Kansas or Missouri) written by Pat and Kris Larkin who are seasoned real estate professionals and specialists in the area of Property Management.
To visit their website and see the full spectrum of Rental Property resources; Books, E-Books, Documents, Forms, Form Letters for nearly every occasion, Checklists, Videos more money saving tips and tools . . . and the list goes on and on, go to: ManageToMakeMoney.com
For a short video on this subject CLICK HERE
Thank you for reading!
Pat and Kris Larkin
Bit.ly: http://bit.ly/dTTI0W
RENTAL PROPERTY MANAGEMENT – 24 HOUR NOTICE OF ENTRY
Posted by patandkrislarkin in Property Management on March 22, 2012
What do you do when need to access your rental property but are unable to coordinate schedules with your Tenants? There are times when you need to get into your property to make repairs, show it to prospective Tenants, show it to prospective buyers or just to inspect the property and you can’t get a hold of your Tenants. We suggest that you go by the property and post it with a “24 Hour Notice of Entry” This is a legal document which tells the Tenant that in approximately 24 hours, you will be coming into the property to; and then you state your purpose.
Now you have to be judicious with the use of the 24 hour notice and not use it every week to go into your property. Your Tenant is entitled to the quiet use and enjoyment of the property. If you are using the notice to have repairs done… always accompany your workmen into the property. Also, it is a best practice that if/when you enter a Tenant’s property, that you have someone accompany you. In our our litigious world, this is for your own protection. It is also a good idea to try to contact your Tenant “one more time” before you enter the property. Also, document all the attempts you made to reach them or access the property.
You will be amazed at how when your Tenant receives their 24 Hour notice, they are miraculously available to meet you there!
In conclusion If you can’t reach your Tenant for access to the property, post a 24-Hour Notice of Entry, document all attempts to communicate with them and be sure that you accompany your workers when you/they go in.
To view a short video on this same subject CLICK HERE
For our 24 Hour Notice of Entry form or more down-to-earth tips on how to effectively manage your rental property, visit our web site at: ManageToMakeMoney.com.
Thank you for reading!
Pat & Kris
RENTAL PROPERTY MANAGEMENT – DEALING WITH “CHALLENGING” TENANTS
Posted by patandkrislarkin in Property Management on March 21, 2012
When my wife, Kris and I were traveling and staying with some friends, we walked into the room they had prepared for us and on the lamp was an antique looking sign which read: “Our guest bring us great joy… some when they arrive… and others when they leave!” I felt that way about our Tenants… sometimes, it’s the waiting for the joy at the end!
We are all challenging people to live with… some more than most! We categorize our challenging Tenants into three primary categories: 1.) Students 2.) Entitled Tenants and 3.) Those Tenants who upset the neighbors around them. In a way, they all have similar attributes… they want to live their lives… any way they choose… regardless of how disruptive they may be to others around them. Many of these Tenants “bully” their way through life… pushing their way through. Our tip for dealing with all types of challenging Tenants is to show respect to them, but also show your resolve. Be assertive in requiring that they go by the same rules that most others on the planet go by. We have developed what we call a “No” letter and it very respectfully says something to the effect of “Thank you for your concern about (whatever the concern is). However, this is not a situation in which we will be able to meet your expectations at this time.” (then state whatever clause in the lease which applies). Another option, if they are disturbing the neighbors or causing damage to the property is to threaten them with a notice to comply with their lease or move. There is a very strong chance that your Tenants won’t like either response. But with your resolve… you will get this challenging situation under control.
In summary: Don’t allow your Tenants to get the upper hand in your relationship… push back with respect and their legal obligation of their Lease Agreement.
To view a short video on this same subject, please CLICK HERE
If this tip has been helpful to you, please visit our website at: ManageToMakeMoney.com where you can find our “No” Letter and many more tools, tips and techniques for managing your rental property profitably.
RENTAL PROPERTY MANAGEMENT – RETURNING SECURITY DEPOSITS
Posted by patandkrislarkin in Property Management on March 20, 2012
Many people don’t know that if you fail to return your Tenant’s security deposit within the time frame allotted by your particular state . . . there can be some very serious consequences. As an example, let’s assume that your state mandates that you are to return your Tenant’s security deposit to them within 21 days (3 weeks). In many states, if you fail to return the deposit within that time frame then first, you will lose the right to charge the Tenant for anything! It doesn’t matter if your Tenant owes you for three months of rent, late charges and they tore up your property . . . by returning the money late . . . you waive your right to charge the Tenant for anything at all. But wait . . . there’s more! Also, in many states if you miss the deadline, your Tenant is entitled to TWO TIMES the amount of security deposit. Translation: if the Tenant paid a $2,000 security deposit and you miss the return date, you could have to pay them $4,000 AND not be able to charge them for any back rent or late fees owed or for repairing any damage they may have done to your property! So be sure to check the specific laws in your state. A good place to start is to google “tenant landlord laws (insert your state’s name)”
This tip is part of the scores of information contained in our Property Management Training Program; Manage to Make Money . . . . the Real Estate Series. This new series has been developed around our book: Manage to make Money . . . Your Guide to Profitably Managing Rental Properties 2nd Edition.
To view a short video about returning security deposits click on this link.
To visit our website and see our large selection of books, e-books, downloadable forms and documents, videos and tips go to: www.ManageToMakeMoney.com
Thank you for Reading!
Pat and Kris
RENTAL PROPERTY MANAGEMENT – TENANTS BREAKING THEIR LEASE
Posted by patandkrislarkin in Property Management on March 14, 2012
Tenants Breaking Their Lease
One thing which occurs more often in Rental Property Management is Tenants breaking their lease.
Let’s face it, life happens and Tenants break their leases for many reasons . . . they can’t pay any longer and are skipping out or, it is generally something less sinister like . . . getting a great deal on a short sale and just learning that they have to close in 2 weeks . . . YIKES!! Either way, you have to know the Tenant’s and your responsibilities when this happens.
As you probably already know, the Tenant has the responsibility for the rent through the end of the term of the lease as stated in their lease agreement . . . and to leave all the utilities on and pay for them until the property is re-leased (if you used our lease form). You, as the Landlord, if you want to be able to collect any rent through the end of their lease term, must immediately and diligently market the property for lease again. Be careful not to market the property at a higher rent amount than the previous Tenant paid or you may have difficulty in collecting money for lost rent in court if . . . you “Jacked the Price up” which is how a judge may see it. You will only be entitled to the lost rent between the time your previous Tenant vacated or last paid rent and the beginning of a new lease with your new Tenant . . . no double dipping!
The subject of Tenants breaking their lease along with many other property management challenges are covered extensively in our new Property Management Training Program; Manage to Make Money . . . . the Real Estate Series. Click here for a workshop near you: Workshop. This new series has been developed around one of our books: Manage to make Money . . . Your Guide to Profitably Managing Rental Properties which is now available for California laws as well as many states in the Midwest. It is a virtual Survival Guide for anyone managing Rental Properties!
Imagine yourself having challenges with your rental property . . . NOW imagine yourself having a solution to nearly all of your rental property issues! Visit our website at http://www.ManageToMakeMoney.com and check our books, e-books, documents, forms and checklists and much much more! You never knew that life managing rental properties could be this easy!
Click on this link for a short video about what to do when Tenants break their lease: Tenants Breaking Their Lease
Thank you for reading!
Pat and Kris
TENANTS – ALWAYS GET A CREDIT REPORT
Posted by patandkrislarkin in Property Management on March 1, 2012
Screening prospective Tenants can be difficult but here are a couple of tips that will help you to minimize your risk of getting a bad Tenant.
One of the main elements in screening your Tenants is to get a credit report. There are many other ways to check out your tenants but a credit report will do the best job of surfacing potential issues in their ability to pay rent and in general will help you to sort through your applicants. You can get a credit report in a couple of different ways; First, is to have your prospective Tenants run their own credit report. But be careful, free credit reports are available but rarely have a credit score. A credit score is key. Without the credit score you are subjected to reading through reams of credit information… some good and some not so good and having to figure out if this applicant is a good risk or not. The credit score will do all of that for you. Secondly, you can find many companies on the web that you can sign up with to run credit reports for your applicants. These companies will of course check you out first to be sure that you are trustworthy enough to be dealing with such sensitive information and that you will get the proper authorizations from your applicants.
As to what credit scores are good and bad; that depends on your market but I can give you some very rough ideas: a stellar credit score is 800+ and a score in the 500 range is going to be due to a lot of late payments, possibly judgments or even a bankruptcy.
In summary, a credit report will “tell the tale” about your Tenants. Be careful though not to be too restrictive; these are tough economic times we live in and you need to hear everyone’s “story”.
To view a short video on this subject go to: http://bit.ly/eCprVn
Thank you for Reading!
PAT & KRIS
Visit our website at: www.ManageToMakeMoney.com to see the full array of rental property management resources as well as our latest current live seminar schedule.
RENTAL PROPERTY MANAGEMENT – SYSTEMS FOR THE PROS
Posted by patandkrislarkin in Property Management on February 29, 2012
SYSTEMS FOR THE PROFESSIONAL PROPERTY MANAGER
Any business, in order to operate and deliver its products or services, must have systems and processes. In this chapter, I will be sharing with you many of the systems and processes we implemented to manage the 320+ properties we were responsible for. The process is like any other . . . it is never finished. There is always something that, while it works better since you changed it, is still not working as smoothly as you would like. What I am sharing with you is basically a snapshot of where we are in this ongoing process.
Filing
Every organization has to do filing. It is simply a way to put important documents and information away in such a manner as to be able to find it again with you need it . . . and that is the acid test! You may have an awesome filing system that you have implemented but if you can’t find what you need when you need it, you have to ask yourself: is this really working for me?
The starting place for us in dealing with our properties was to assign a property number to each property. This number is used in paying invoices; in setting up our property management software and . . . you guessed it . . . in setting up our filing system. We start out arranging all of the properties in alphabetical order, by their street name and then begin assigning property numbers to them. Under this convention all of your properties on numbered streets would come before your named streets in the order of your streets: 6th street, 10th street and 27th street, then Apple Street, Boston Street then Orange Street. If you have more than one property on the same street; the ones with the lowest house number would come before those with the higher ones. As you are designing your property numbering system, one thing to think about is to allow enough unassigned property numbers between the assigned ones to allow for some growth. We only re-assigned property numbers once in the five years that we owned the company. This was mainly due to the fact that we more than doubled our number of properties during that time. As you can imagine, because we had outgrown our numbering system, we had a lot of property numbers with decimal numbers so that we could fit them between two consecutive whole numbers: #110, #110.2, #110.5 & #111.
Here is an example of a numbering convention which works:
Property # Property Address
|
1 |
623 E. 6th Street |
|
2 |
Unassigned |
|
3 |
Unassigned |
|
4 |
842 So. 18th Ave |
|
5 |
622 West 120th E. Ave |
|
6 |
Unassigned |
|
7 |
Unassigned |
|
8 |
123 Apple Street |
|
9 |
129 Apple Street |
|
10 |
Unassigned |
|
11 |
Unassigned |
|
12 |
855 So. Boston Street |
|
13 |
Unassigned |
|
14 |
Unassigned |
|
15 |
27 Highland Ave. |
OK, now that we have figured out how to number our properties we are ready to set our filing system. We recommend that you use a three folder system for each property. One is a colored folder; red, blue, green or even electric colors are available at your local office supply store. The other folder is a plain-Jane manila folder. The two folders rest in the third folder, which is a hanging folder. All three folders have the property number and address on it.
The Colored Folder – The colored folder is for all of the legal documents relating to the property, or you could also think of it as housing all of the long-term documents. On the left side as you open the folder, we keep all of the documents relating to managing the property; Management Agreement; property set-up sheets; Owner information, and copies of any letters to or from the Owner of the property, etc. On the right side of the folder, keep all of the information relating to the current Lease. On this side you will keep the Lease itself, the rental application, any Change of Terms, any Three Day Notices or written correspondence with the Tenant or notes of communication with the Tenant.
The Manila Folder – This folder is for all of the day-to-day stuff that goes on with the property. On the left side, you will keep all of the HOA documentation; newsletters, notices, etc. On the right side is where you will keep all of the paid invoices for anything on the property: mortgage statements; HOA statements; and paid contractor statements, as well as the work orders for that work.
Another thing that we put in the manila folder is the Lease. I know, I just said that you will keep that in the colored folder . . . whassup with that. If you re-lease the property during the year, we put the new Lease in the colored file and move the outdated Lease into the manila folder. This way, you will still have access to this information without having to go to your archives.
As I have mentioned before, I tend to be an efficiency-driven sort of person. When I first saw this filing setup, I pushed hard for going to the multi-tabbed, all in one folders. The reason that doesn’t work as well for this system is that at the end of the year you will want to purge your files and essentially the entire manila folder will go into to your non-active file storage. This becomes a very efficient process when all you have to do is remove the manila file, mark it with a colored tab with the year it was for and make a new manila folder to replace it. Also, if you don’t purge your files each year, they would become so fat and cumbersome that you literally would have to rent a larger space to house all of your files!
Archiving – If you are going to keep physical copies of your old files, you will need to maintain a storage facility where you keep all of your file archives. Typically this is for files on properties that you no longer manage, or for files on properties that you do manage, but the files are so old that the likelihood of needing to access them is minimal. A good rule of thumb is that you maintain records for 10 years and then have them shredded.
Depending on how long we have been managing a particular property, we would generally keep all of the past year’s files for that property in storage in our office. Now, if you have been managing a property for 15 years, that doesn’t make sense; information that is 3 – 5 years old is only going to need to be accessed once at the most, during a given year, so it really doesn’t make sense to use your valuable file/office space for that and it goes to storage. At any rate, this three folder system is working well for us.
Physical Hard Copy Filing vs. Electronic
With all of your current year files and three–five year archives, your filing will require a lot of space. That is valuable and expensive office space. If you can eliminate several file cabinets then you could add more work stations and not have to rent larger space in order to hire new people as you grow!
I recommend that you start out scanning all of your documents that you would normally file . . . as they occur! This will start to build your filing system and when it is time to purge your physical files and move them to another cabinet you can skip that step and move them to archive. You will have the electronic files on your computers (don’t forget to have an off-site backup!)
We hope this posting has been helpful for you.
Thank you for reading!
Pat and Kris
For a virtual goldmine of resources for time and money saving systems and secrets of the pros, visit our website at www.ManageToMakeMoney.com
PROPERTY MANAGEMENT – PAYMENTS – SECURITY DEPOSITS – SOFTWARE
Posted by patandkrislarkin in Property Management on February 23, 2012
Pa
yments From Owners
There are many instances when you will have to have your Owners infuse their account with funds. This situation occurs for a number of reasons: the property has a monthly negative cash flow; you have just had to do some major repair (replacing the furnace or air conditioner); a major remodel after a long-term Tenant vacated, or something as simple but expensive as paying property taxes.
Buffer amounts
First of all, let me say that we strongly recommend that you maintain a buffer amount (minimum $500.00) in each of your Owners’ accounts. This will give you the flexibility to take care of small repairs without having to have your Owner send you a check, and depending how much of a positive cash flow the property may have, you can replenish the buffer fairly easily for that.
Infusions
Holding on to the idea that Owners (as is the case with all of us) do not like surprises about money . . . unless we have won the lottery! Now, emergencies happen and usually, they are difficult if not impossible to anticipate. But I am speaking here about the expenses that the Owner is going to have on his property that we can anticipate: long-term Tenant moving out, real estate taxes (they’re always due on the same date – year after year) or a special assessment from the HOA. When we can anticipate these expenses we need to be proactive in estimating how much they will be and when our Owners will need to send funds. This will accomplish a couple of things:
1.) It gives your Owner a warm fuzzy feeling to know that you are watching his back and keeping him from having unpleasant surprises and 2.) It gives you the funds from which to pay the expenses. Otherwise you could find yourself in the unenviable position of having done $10,000 worth of work on an Owner’s property and when you call him to get the funds you learn he is in Zimbabwe for 2 months . . . or worse yet, he thought that the expenses were going to be less and he doesn’t want to pay the $10,000 and now wants to negotiate the amount with you . . . YIKES!
Dunning Letters and E-Mails to Owners for Funds
We have had very good luck with sending e-mails out (to our Owners that do e-mail) when we need funds. You may think this is very elementary but before you tell your Owner that you need more funds, be sure to do your homework. What do I mean by that? You don’t want to send your Owner an e-mail telling him that you need $1,500.00 to pay for the new water heater if his property is running $100.00 negative cash flow each month and he has no reserve buffer left. If you don’t say something about the negative cash flow and the status of his account, you will just be asking for more money again next month. This makes the Owner feel like you are not on top of your game (which you aren’t) and causes both of you more work in the long run.
Again, be proactive with your Owners and anticipate what their cash position looks like. Act like it is your money and how you would want to be treated. If I had the above scenario, I would tell the Owner that I needed $1,500.00 for the water heater (as we discussed previously) and the negative cash flow on the property has run through his reserves. We would like an additional $500.00 to replenish his reserve account and $600.00 to cover the next six months of negative cash flow at $100.00 per month.
Maintaining Security Deposit Liability Integrity:
When a Tenant pays you a security deposit on a property, that is a liability that you will maintain in the Owner’s account. The purpose of the security deposit is so that you have funds (security) in the event the Tenant fails to pay the rent or leaves the property damaged when he or she moves out.
When there is a cash need for repairs or whatever else on an Owner’s property, there is the temptation of the Owner to see that cash in their account and want to use it to pay those expenses. If you allow them to use it, this is a very, very slippery slope to allow yourself to step onto. For a couple of reasons: 1.) unless you document it well and in writing, after a few years, our memories fail us and our Owners are no different, they will typically not remember using that security deposit to pay operating expenses from and 2.) as property managers we are required by law to notify the Tenants that we are no longer holding their security deposit; that the Owner is, and give them the Owner’s contact information.
Now we, as property managers, are the Owner’s agent and the security deposit does belong to the Owner, we are just holding it for them. If the Owner insists on using this money, we recommend that you go about this in the following way:
- Write a check to the Owner for the full amount of the security deposit and mail it to him with a letter explaining the transaction and a copy of the letter you are sending the Tenant.
- At the same time send a letter to your Tenants advising them who is now holding their security deposit.
It is important that you not go back and forth with this transaction; giving the deposit to the Owner, putting it back in the account, back to the Owner, etc. First of all, this will breed a lot of insecurity and concern on the part of your Tenant and secondly, it is a lot of work and liability for you! If you are going to do this, we advise that you tell your Owner (put it in your management agreement if you want) that you will make one transfer of the security deposit and that is it. Something to think about, given enough time and aggravation it won’t be long before your State’s Department of Real Estate will be conducting an audit of your trust account. That could be right up there on the fun scale along with root canals and IRS audits!
Software
There are a lot of very good fully integrated property management software programs on the market today. When I say fully integrated, I use the term loosely as these various programs are integrated to varying degrees. In general terms, there are programs on the market now that will take care of the accounting for your Owners; interface with your word processor so you can write letters to Owners or Tenants and it will file them with the property; and will keep a rent log for single or multiple properties.
This is the teaser. We will be discussing software programs and their pros and cons in the next chapter.
I hope you enjoyed our various topics today. Next we will start some discussion on “systems” used by property managers . . . don’t miss out!
If this information has been helpful to you, visit our website for more resources to help you profitably manage your rental properties!
Thanks for reading!
Pat & Kris Larkin
MANAGING PROPERTY FOR OTHERS – DELIVERING STATEMENTS AND PAYMENTS TO OWNERS
Posted by patandkrislarkin in Property Management on February 20, 2012
Delivery of Statements – Mail Hard Copy vs. e-mail
When our company started all of these processes and procedures . . . it seems bizzare to say it but . . . there was no internet or e-mail. All of the monthly statements along with all of the backup copies of invoices were packaged, posted and mailed out to each of our Owners. With the advent of e-mail and good quality scanners, we were able to move toward e-mailing our monthly statements to our Owners. The only thing that held us back was our Owners; many of whom were a bit technologically challenged and “didn’t do e-mail”.
As we moved forward though, we pushed to make the change. I am a big believer in processes and the more processes you have for the same outcome, the less efficient you are. I know that the time is quickly approaching when this will no longer be an issue and electronic delivery will be the standard for all property owners.
If you are just starting a property management firm, this is an awesome opportunity for you. You can start from the beginning sending your statements out electronically . . . and not be faced with converting to the new technology that will undoubtedly be here all too soon!
Payments to Owners
Assuming that our Owners’ property had a positive cash flow, we paid a disbursement out to each of our Owners at the time we issued the statements. Our software had a default setting that basically told it to send the Owner any remaining cash in the account after all expenses have been paid. This is not always a good thing; if you have a system like this, you want to be diligent to keep an eye on future anticipated expenses. Let me tell you it is not fun to have sent an Owner a bundle of money one month, then the next month you are trying to pay his real estate taxes and you don’t have enough money in the account. You then have the opportunity to ask the Owner to send the money back to you. This is not good for your credibility! We could also go into our system and set a cash minimum that we wanted to maintain in all of our accounts and it would automatically send the Owner anything in excess of that amount. It is all a matter of how you want to set it up.
Like mailing out hard copies of statements and technology marching on, making payments to our Owners has also undergone some changes. In the early days, we sent out live checks each month to our Owners. Now, with the advent of ACH or; Automated Clearing House, we can electronically transfer funds from our trust account to our Owners’ bank accounts, minimizing live checks, mail problems, etc. Again, we still had those Owners (probably the same ones that “don’t do e-mail”) “who don’t do electronic deposits”. We continued to work with them knowing that “someday . . . this too shall pass!”
Our hope and prayer is that this information has been helpful and sparked some thought processes for you. To discover more resources for managing rental properties for yourself or others, visit our website and check out our Books, Documents, Forms, Checklists, Videos . . . available in hard or immediately downloadable versions.
Thank you for reading!
PatandKrisLarkin.com 