Real Estate - Long term renters (tenants)

In this week's episode, Nicole and CJ share their experiences as owners and managers for long term rentals.
We talk about:

  • Finding good renters
    • Do credit checks
    • Be patient it can take many showings to find the right renters
    • Use renter screening tools like 
  • Be extremely clear about expectations
    • Make sure to have a clause in the contract that requires a per day late fee over a set number of days. E.g. after 3 days, each day late costs $25/day
    • Be clear about pet cleaning fees 
    • If they want an exception for an animal, try to get a good idea if they really need the pet or not. I wish we asked for some sort of proof that the animal was required otherwise we would’ve charged extra
  • Set up monthly or quarterly visits from a landscaper for the exterior
  • Being your own handyman
  • Other ways you can invest in long term properties
We recommend:

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