Renting apartments to good tenants

Renting apartments is easy. Take the money and give the keys to good tenants.

Some are like that, but every tenant becomes a good or better tenant if you spend a few minutes and explain how you expect him to operate the utilities and appliances.

We believe we can train people to become good tenants.

My definition of a "good tenant" is: A good tenant is always paying on time, takes care of the apartment, is friendly and comprehends the words "quiet enjoyment".

Showing where the thermostat is and how it works or where the TV antenna plug is does not require a lot of conversation. It creates a precedent, you the manager speaks and the tenant pays attention.

Some want to watch TV in the bedroom and I make a small hole in the wall for the cable.

Renting apartments is the easy part, and managing the good tenants is fun.

Managing the good tenants.

• At lease signing time we charge the first month rent and the Security Deposit. We do not make application and renting too easy for obvious reasons. Some landlords charge in addition to that the last month rent.

  Usually, we do not accept personal checks: "No checks please. The payment is made with cash or money order in the business name". For tenants with good credit we accept checks.

• At that time I instruct the tenants and demonstrate to them how the heating, air conditioning, garbage disposal, entry door locks, and smoke detectors work.
• Also I show where the following are located: the commercial garbage container, the fire extinguisher, their mail box, common storage space, etc.
• Assigning the parking place and telling where their visitors may park is very important. This way you avoid creating tenant to tenant problems.
• Also, we give them a "moving in list" for things that are worth mentioning in the first week. See the Forms section.For every signed document we provide a copy to tenant.
• I let them know that, by 23-25th of the month, I provide at each door, self addressed business envelopes to receive the money order for rent in our business P.O.Box.

  I do this for the tenants convenience, it is not a big deal for me, but it shows some discipline from my side and that I expect the same from them in this process of renting real estate.

Late Rent Payments.

• I understand situations when the tenant calls before the first of the month, and is promising to pay in two weeks. I wait for that person to work through his/her financial problem.

  The long term solution to late rent payment is: apply the lease/rental agreement and the renting laws, being polite and firm.

• If the tenant is already late and is calling me that he/she has got the money, I will go and get the money that day.

  An old manager told me his only rule is: "Take the rent when the tenant has it."

  I would like to get the rent in my P.O.Box and not doing what that old man said.

  When renting apartments to not so rich people, collecting money becomes an art form or a science.

  Last word, we wish them "Welcome aboard."
  
  
  

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