All Forum Posts by: Bryan N.

My initial business plan involved me fixing most problems to save money.  But, a couple months ago I got a call about two five minute fixes.  I was smoking a cigar and enjoying my afternoon.  I had a choice to make.  Go over there, troubleshoot, go to Home Depot, fix, go back to Home Depot because I didn't have the right stuff, and then rinse and repeat.  So, while smoking that cigar I called several handymen. $75 dollar charge later it was fixed and I was still smoking my cigar.  Sometimes it's a $150 for the same repair even though I know I can fix it with a couple hours time.  But, for me time is money and time is valuable.  For the cost of the service I'm still enjoying a cigar and not worried about it.  I would rather spend my time relaxing and looking for the next acquisition vice the next leaking sink.  

I scan receipts into an external had drive under the property name.  It's backed up into a secure cloud.  The tenants sign paperwork at lease signing stating that all smoke detectors etc worked at time of lease signing and they are responsible for checks and battery replacement.  I do an inspection 6 months after they move in to check on things.  Shorter if they aren't exactly taking care of the place.  I also record everything in rentec.  Then to top it off I have $1M in liability on each property plus an additional umbrella policy. 

I rotate deadbolts around or toss them.  They are cheap to replace.  

Respond quickly to maintenance issues.  Don't raise rents to above market levels to reduce turnovers.  Screen for the best applicants and keep them as long as you can. 

I do a "6-9" month walk through once a lease is signed.  It gives them time to settle in. I bring extra HVAC filters in case they didn't change them.  They sign a smoke detector addendum at lease signing.  When I do my walk through, if the place is well maintained I don't bother them again.  All my tenants know to report problems and I'll have someone over in a couple days to fix it.  But, I also screen for the best tenants and respond quickly to any maintenace problem they have.  In return, I have very few problems with them. 

Seller vacates or you move on to another property.  There are plenty of other opportunities once you start looking around.  

 Hopefully they don't leave over the puppy. A clean and problem free tenant is a gold mine. 

Your biggest problem is they never said anything to you.  That's a telling sign of their character.  

I've had a tenant get a dog and month later tell me.  I don't have a no pet policy, so I gladly charged them a non refundable pet fee and a monthly pet rent.  But, they told me... Unlike your tenant. 

If they are good long term paying tenants and want to settle in with a dog... Charge them for it.  Yes they violated the lease.  But, we aren't all angels.  If they are a problem serve them notice of violation and move on. 

Screen properly and let them know the day after the rent is due they are in violation. 

If it's a low cost quality handyman... Let them have the materials.  They aren't a handyman or women because they drive a Maserati and live on the 35th floor of a trump tower.  They are working hard and main ends meet.