Monday, November 11, 2013

How To Care For Your Rental Unit Addendum & Results Of A Lease Clause Contest


One of our favorite speakers, Ray Alcorn, is not able to make it to our meeting this week and has rescheduled. However, you don't want to miss this meeting because it will end up directly resulting in more money in your pocket.

This week we will have a group discussion on a few topics pertaining to leases, maintenance calls and your money.

Tenants can waste a significant amount of your time and hard earned money due to a lack of knowledge of minor general maintenance procedures that are required of any occupant of a house. There is a solution that will keep your money in your pocket if handled correctly and I am in the process of developing a lease addendum to do it.

Common Problems:

*  I'm sure you have heard tenants call you over the years about things such as an electrical outlet that is not working and it turns out that the breaker was off.  That simple mistake of theirs just cost you time and money.

*  Or a light that doesn't work and it was the light bulb, not the light.

* How about this, I have had this one happen to me multiple times. A tenant calls about their power not working and you send maintenance out there and it's because they got it cut off. LOL. Jokes on you though because they again just wasted your valuable time and money.

*  Have you ever had a tenant call you and tell you that their toilet is stopped up and your maintenance goes out there and finds that they are using one of those little thin plungers from the dollar store and a couple pumps of yours that pushes allot of water and air in the pipe instantly fixes the problem.

*  How about getting a call for a shower that is stopped up and it turns out to be nothing more than their hair as you pour down some Drano and it is instantly cleared.

* Have you ever had a tenant call you saying they saw a roach or some other kind of bug?

In order to do this properly, it's important at the start of a lease for your residents to sign something that indicates that all of the pipes drain freely, there are no bugs in the place, it is free of mold and everything is in proper working condition. This would be part of a Rental Checklist that they will complete.

What is also given along with the lease is a "How To Maintain Your Rental Unit Addendum".  It will explain what they need to do BEFORE calling maintenance. 

Smart landlords don't plunge toilets, don't change light bulbs, don't flip breakers, don't pour Drano and don't apply pest control gel bait when their tenants are perfectly capable of doing so. I'm not running a hotel. These people live in the house over a long period of time and there is some very minor maintenance that is required by them. I'll handle the big stuff.

So at this meeting we're going to have a conversation about common maintenance calls that we as a group get so they can be partially eliminated. I will use what we come up with to develop the maintenance addendum.

We will also talk about a list of tips that our member Doug Turner developed to give to tenants, most of which are along the lines of house rules and procedures.

And in addition we will have a discussion on an Effective Lease Clause Contest that Jeffery Taylor of Mr. Landlord had. Some interesting results.

Going to be an action packed meeting at REI Tuesday night at Shakers. Bring your friends, family and girlfriend / boyfriend. Don't miss it.

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