Real Talk - Landlord to Landlord

 by Joe Neilson
September 18, 2015                                                                                                                 
                                                                                                              
  
__________________________________________________________________________

 

  

 

  

A PICTURE IS WORTH A THOUSAND DOLLARS   

 

 

The cell phone camera has revolutionized the way I market and landlord.  A camera is now always with you, me, handymen and contractors without even trying, ready to click-click within 5 seconds.  Pictures are now central to marketing and managing my houses.

 

MARKETING

  1. WE TAKE BEFORE (nastier the better) pictures when we purchase a house.  Then AFTER (always beautiful) pictures when the rehab is complete.
  2. BEFORE/AFTER - We make up contact sheets with side-by-side (before/after) by room, four pictures per 8 1/2 x 11, usually 3 or 4 pages.  Show to appraiser and mortgage brokers wondering why I want an appraisal of $120,000 when four months ago I purchased it for $35,000.  I show a digital version on screen and my speaking engagements and seminars.
  3. RENTAL WEBSITE, FACEBOOK AND CRAIGSLIST - We have stored beautiful "after" photos of all 75 of our houses and 27 garages, and when a tenant gives us their 60-day notice we put the photos up on our website, Facebook and CraigsList with a bedroom/bathroom/amenity description.  The gleam of the hardwood floors contrasted with the white-everywhere paint is stunning.  Ceramic tile on the kitchen and bathroom floors, occasionally on the bathroom walls or kitchen backsplash, add to the "Dream Homes for Rent" I want that house competition.

 

 VIOLATIONS OF THE LEASE


TENANT DAMAGE - "It's not my fault."  "I didn't do that."  "You expect me to pay for that?!" are tenant school mantras.  Photo opportunities of damage abound and I demand all my handymen take pictures of damage, missing smoke alarms, general mess, etc. that "might" be a tenant's responsibility.  Pictures have dramatically increased the prima facie evidence that the damage (A) exists; (B) was caused by a human being; and (C) tenant is responsible.

 

The mailing of the Violation of the Lease form with an invoice, pictures, and with the pertinent paragraph of Part 7 Highlights of the Lease (purchase my forms at www.therealestateprofessorbaby.com/store) highlighted in yellow has squarely placed the onus for acknowledgement of responsibility and payment upon the tenant.  With pictures, Highlights of the Lease, and a bill--where can the tenant go?  (Remember, we don't allow phone calls unless in an emergency as defined by the lease.)  That means they have to get a pen, paper, envelope and stamp to write out their excuse.  But their position is very weak, and they know it.  If they don't pay and I have pictures, I file in district court.  If I don't have pictures, I probably won't file.  Why?  Judges generally have the tenant and landlord telling different stories, but consistently favor the tenant.  Pictures change all that.  Pictures are proof.  Pictures win the day.

 

MOVE OUT BONANZA! - After the tenant moves out we do a walk-through (using our almost-famous two-page Pre-Inspection Checklist).  The handyman takes pictures of all tenant-caused damage including the base of every missing smoke or carbon monoxide detector that cannot be found.  Is the fire extinguisher missing?  Picture.  Hole in the wall?  Picture.  Door damaged?  Picture.  Stuff left that we must dispose of?  Picture.  Grass not cut?  Picture.  I view the pictures, choose those that tell a clear story, and print out two copies, one mailed to the tenant with the Security Deposit form and the signed Part IV of the lease (price list of damaged items), the aforementioned Highlights of the Lease, and a bill.  Too much proof.  They have no excuses/stories to get them out of this hole.

 

ANNUAL INSPECTIONS - The same scenario as above occurs on our annual inspection.  I include pictures of all damaged or missing items, an invoice, and...I just love my Part IV price list.  The price is what it is.  I don't have to decide anything.  Picture.  Price. Bill.

 

DRIVE-BY SHOOTINGS - I'm in the car going past a rental house and the grass is over 5 inches - click - personal items left out over night - click - empty garbage cans left for days in front of the house - click.  Mail Violation of the Lease, Highlights of the Lease, and the pictures.  Game over.

 

The cell phone camera has made the job of the landlord easier and simpler.  It's almost not fair.  And it's in your pocket.  Use it!  The #1 tool that helps me be a more effective and profitable landlord. 

 

     

The Real Estate Professor believes that YOU can do it!

 

 

 

__________________________________________________________________________

How YOU Can Get Rich in Real Estate!

2-Day Seminar

November 21 and 22, 2015

 

Sign up here!
Download the flyer here!   
  
__________________________________________________________________________
I'll be speaking at the DIG South Philadelphia Subgroup meeting on Monday, September 28, 2015 at 6:00 p.m.  Come on out and let's talk about Tenant Choice and Mangement.
 
 Click here for more information              

  
__________________________________________________________________________
Free offer!  You can receive my REHAB BIBLE, my step-by-step instructions on exactly how I rehab houses, including all mechanicals, for about $30 a square foot.  All you do is post a review (hopefully 5 stars!) of my book,  The 7 Essential Habits of Wealthy Real Estate Investors or Buy & Rent Foreclosures on Amazon, then email me that the review is completed at joe@therealestateprofessorbaby.com. Within 48 hours I will email you THE REHAB BIBLE in .pdf form.  FREE!  (If you don't have an Amazon account, you can set one up in a few minutes without buying anything.)
__________________________________________________________________________
Purchase my Forms, Leases, Contracts, and Specification of Material and Methods right here.  All of the necessary tools that enable you to organize your real estate business and be successful. I wish I had all these tools when I started!       
__________________________________________________________________________

Disclaimer:  The information in this newsletter is provided as a service.  The reader should be aware that the author is not an attorney, accountant, tax advisor or financial advisor.  The author attempts to keep the information timely and accurate; however makes no express or implied guarantees.  This information may not be relied upon for accounting, tax, legal, financial or insurance purposes.  The reader is advised to consult his or her professional advisors regarding any use of this information.

  
  
Like me on Facebook View my videos on YouTubeView my profile on LinkedIn