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Landlord Tips And Tricks


Every real estate investor dealing in rental homes has done his own clean-up and fix-up, at least in the early years. Landlords also become very skilled at managing tenants after being burned a few times.

You learn the tricks of the trade and how to get the best results for the least cost. Maybe a few of these tips will be new to you.

You can give kitchen cabinets new life with a liberal application of Liquid Gold.

Everyone has at least one chip or scratch in the porcelain on their refrigerator, bathtub, stove (except high heat surfaces), sink, washer or dryer. The solution? Touch up that nick with a tough porcelain glaze called "Porcelain Chip Repair". Just dab it on with the built in brush and it hardens in 24 hours. If your hardware store does not carry it you can find it with a Google search.

You can quickly clean black scuff marks from vinyl floor covering with a squirt of WD 40 lubricant and a rub with a clean cloth.

Put a shiny new strainer in the sink drain. Then install new handles and drawer pulls and you often have a minor kitchen miracle.

Get rid of globs of sticky adhesive residue with Goo Gone.

When tenants move out they seldom do a really good cleaning job on the oven... or the dishwasher.

I'm sure you have discovered the many effective oven cleaners, but how about that gunk caked onto the inside of the dishwasher?

Try a product called "Dishwasher Magic"... found in many markets and some hardware stores.

The label reads "Removes Lime Scale, Rust & Buildup. Disinfectant".

You just remove the cap... place the blue, plastic bottle upside down inside the silverware basket and turn the machine on. You might have to use two bottles if your first look into the washer causes you to run screaming from the house.

When vinyl flooring is ready to be replaced use commercial grade floor tile instead. It lasts almost forever and it is cheap to replace a damaged tile now and then.

Have you ever received an unsigned rent check? Here's a method that often allows you to deposit that check.

Write or type the word "over" on the line where the signature would normally appear. On the back of the check type "lack of signature guaranteed". Add your company's name, and your name and title. Then you sign it on the back.

This guarantees your bank that you will take back the check as a charge against your account if is isn't honored. Many banks will then process the check and remit the funds. This saves you the trouble of returning the check to your renter for a signature.

Spot those bad checks with this tips. 90% of bad checks are numbered 101 to 150, indicating a new account.

Legitimate checks have at least one perforated edge. Most forgeries are cutouts of copy machine created fakes.

Checks dated more than six months ago are usually not cashable, no matter how much money the issuer has in his/her account.

If the amounts written on a check in words is different from he amount written in numbers, the bank will pay the sum shown in words.

If you receive a check with the date missing, it's legal to fill in a date reasonably close to the date you receive it. To predate or postdate the check by several weeks is a criminal act... don't do it.

Remember, landlording is not for sissies. I hope these tips will save you a few dollars and a barrel full of aggravation.

About the Author - Mark Walters is an investor and author. His published works can be found at http://www.CashFlowInstitute.com


MORE RESOURCES:

The Gazette (Montreal)

Detroit's Losses Mean Higher Car Payments for Leases (Update2)
Bloomberg - Aug 1, 2008
By Jeff Plungis Chrysler LLC, the money-losing automaker owned by Cerberus Capital Management LP, is closing its unprofitable leasing business today, ...
GMAC to cut lease incentives in Canada International Herald Tribune
GMAC to cut incentivised leasing in Canada CNNMoney.com
GMAC loses $2.5 billion in 2nd quarter Detroit Free Press
Globe and Mail - Financial Times
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Vancouver Sun

US Auto Makers, Dealers To Feel Sting Of Leasing Pullback
CNNMoney.com - Jul 31, 2008
(F) is moving to reduce the number of leases it offers, after taking a $2.1 billion second-quarter write-down tied to leases. Leasing woes, driven by ...
More on Auto Leasing istockAnalyst.com
Vehicle Leasing On Way To Rearview Mirror? CBS News
Auto Financiers Want Out Of Leasing National Post
Detroit Free Press - CNNMoney.com
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Rich federal energy lease sale pleases few
San Diego Union Tribune, United States - Aug 17, 2008
By Judith Kohler AP DENVER – The $114 million sale of federal energy leases on the Roan Plateau is the highest-grossing for onshore parcels in the lower 48 ...
Roan lease auction nets far less than expected Grand Junction Sentinel
Sale of Colo. drilling rights sets onshore record Forbes
Ritter angry about Roan Plateau auction Pueblo Chieftain
Bizjournals.com - Examiner.com
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Lease or buy? Tough market complicates choice
The Associated Press - Aug 4, 2008
The decision-making process on whether to lease or buy a car has been altered by automakers' scaling back their leasing operations under pressure from high ...
Car companies adjust leasing, customers brace for changes The Saginaw News - MLive.com
US automaker woes spurs changes in leasing market St. Louis Post-Dispatch
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Macquarie Group Sells A$213.5 Million of Asset-Backed Bonds
Bloomberg - Jul 25, 2008
By Oliver Biggadike July 25 (Bloomberg) -- Macquarie Group Ltd., Australia's largest securities firm, sold A$213.5 million ($205 million) in bonds tied to ...


Why It's Getting Hard to Lease a Car
Wall Street Journal - Aug 9, 2008
By NATHAN BECKER Leasing a car used to be an easy road to travel, but $4-a-gallon gasoline has put that option -- along with the entire US auto industry ...
Car leasing hits a speed bump Kansas City Star
'Leasing Is History' Financial Post
Consumer auto leasing -- I'm happy to report -- is in bit of a ... Indianapolis Star
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Malls join with emerging companies to find best fit Specialty ...
The Register-Guard, OR - Aug 3, 2008
By Joe Mosley Colin Rodman places a handbag at the Sofiya’s Collection store at Valley River Center. Rodman owns the store with his wife, Ying, whose family ...


Gas leasing workshop
Pottstown Mercury, PA - Jul 26, 2008
A workshop for landowners from Berks County and Southeastern Pennsylvania involved with gas leasing and exploration in the Marcellus Shale, ...


The Mint Leasing, Inc. Completes Business Combination With Legacy ...
FOXBusiness - Jul 23, 2008
HOUSTON, July 22, 2008 /PRNewswire-FirstCall via COMTEX/ ----Legacy Communications Corporation (OTC Bulletin Board: LGCC) today announced that it has ...
The Mint Leasing goes public through reverse merger Bizjournals.com
The Mint Leasing, Inc. Begins Trading on OTC Bulletin Board Under New Lessors Network (press release)
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Kicked to the Curb?
GovExec.com, DC - Aug 19, 2008
By Brian Friel bfriel@nationaljournal.com August 20, 2008 A leasing crisis looms at the Interior Department, the agency's inspector general warned in a ...

Leases-Leasing - Google News

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