| I hate empty rentals - as a landlord, as a | | | | with furniture. Most people are driven by |
| neighbor and citizen. As a landlord, yeah I | | | | emotions, and if they like what they see, |
| lose lots of money and time, not to mention | | | | they go with it.Helping them with the deposit |
| the extra hassles.And no matter what, empty | | | | and rental monies. It's about being flexible |
| rentals bring extra worries and headaches: | | | | again, but you have to be careful of course. |
| vandalism, neighborhood kids, landscaping | | | | I meet with them first, check their |
| upkeep...What most property owners don't know | | | | background, their credit, and other factors, |
| or understand is the concept of marketing | | | | and sometimes I do cut them a break if I feel |
| their rentals. I try to be flexible and treat | | | | they need it. There are people who are trying |
| my renters as partners, because they are. If | | | | hard to get themselves back on track. And |
| you don't have tenants, you're left with | | | | others who aren't. So you need to decide who |
| empty houses and costly real estate | | | | is up for the extra help and who it won't |
| investments.If the property has been vacant | | | | work with.Provide an upgrade. Since I know my |
| for only 1 month, the entire years profit | | | | rentals, I know the things that are targeted |
| from that property is affected. If it's | | | | for upgrades or replacement. Every so often, |
| vacant longer, well, you can do the math.Here | | | | I'll take care of one of those. The tenants |
| are some investing secrets and strategies | | | | love it and it keeps the value of my |
| that I use to get my units rented faster.Give | | | | properties up. Another win/win situation.And |
| the first months rent for free. If a unit is | | | | last but not least, marketing, marketing and |
| vacant, your renter will many times be ready | | | | more marketing. Real estate investing is no |
| to move in sometime during the monthly cycle, | | | | different than other businesses. You have to |
| not necessarily at the beginning of the | | | | keep marketing and keep your leads coming in. |
| month.So give them the rest of the month for | | | | Expose your marketing to as many people as |
| free as an incentive. You'd lose the rest of | | | | you can.Send postcards in the neighborhood, |
| the month anyway if the renter doesn't move | | | | even to other rental properties. Give them |
| it, but now you have the place rented, and | | | | reasons why they should rent from me instead |
| the security that (and since I only do 1 year | | | | of where they are. Give them the benefits of |
| leases) you have them for a full year - | | | | living with me. I take pictures of my rentals |
| because their full paid year doesn't start | | | | and send them to my prospects so they can see |
| until the first month they pay rent.Reward | | | | the beautiful places I have.You have to take |
| your tenants. Yeah, we all fall for this | | | | care of your tenant's interest first before |
| tactic. If my tenants keep the unit in great | | | | you own. I've learned that in life, the |
| condition, keep the landscaping up, pay on | | | | problems start when we take care of ourselves |
| time... sometimes I pay their water bill, or | | | | first before others. When you help other |
| give them a gift certificate for a free | | | | people and take care of their interest first, |
| dinner or pizza.It it's a multi-unit, I tell | | | | your own interests will be taken care of |
| the other tenants about the reward to get the | | | | automatically.Raul Luna officially became a |
| other tenants motivated.Stage the place. No | | | | millionaire before he turned 21! This |
| matter what kind of neighborhood, I always | | | | successful speaker and educator is turning |
| stage my rentals. Many people don't have the | | | | ordinary people into millionaires. |
| vision to see what the place will look like | | | | |