Re: Question on Advertising for rent - Posted by Ronald * Starr(in No CA)
Posted by Ronald * Starr(in No CA) on October 01, 2003 at 12:17:45:
If there is enough demand from renters, I never show the property individually. Instead, I have an “open house” like when the brokers are selling a property.
I have the time and the address in the advertisements. I also have it in the front window. Nothing fancy, just a “Open Next:” and a handwritten date and time. If I have it open every Sunday 2-4 and Wednesday 4-6, that will be on the front window.
I have a flier listing the highlights of the property, policies–such as no pets, and costs to move in. I print them up two to a 8 1/2 X 11 sheet and cut them apart.
I don’t like to show the place until it is completely ready. However, I will make an exception if it is cosmetically ready.
I recommend looking at an applicants current location before offering them the property. I also recommend checking with the county assessor as to whether the person they have put on your application is shown as the owner of the property where they claim to live.
Also, ask to see their driver’s licenses when taking the application. My rule: no driver’s licence, no offering of the property. On the driver’s licence is their middle name, useful for credit checking, their address, which I compare to the one they put on the application, and so on. Also prevents some deadbeat from using his cousin’s name and good credit to get in.
I recommend getting a couple of books on property management and reading them in the evening after doing the rehab work. Landlording by Leigh Robinson is the gold standard, I’d suggest. I also like Jack Reed’s book on management available at www.johntreed.com website. Apparently Mr landlord, Jeffery Smith, I think, has good material at his website.
Good InvestingRon Starr******