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First, we would love to thank all of you who submitted questions via email. We received many and selected the ones we knew we could answer in about 5 minutes or so. Please feel free to send us a question to be asked in a future episode! Our emails are in the “LINKS” section below.
This episode includes questions from 5 listeners. One is a two-part question, so we actually are answering 6 questions in total that cover the subjects of:
- Rent discounts for seniors and single moms, are they protected from Fair Housing or can another tenant claim agism/unfair treatment when not receiving a discount too?
- How to properly save cash reserves if you are discounting rents for individuals?
- Operating manuals and criteria, how to handle if there are multiple properties involved?
- Old school landlords who take checks vs ones who use landlord software, is it too late?
- What is the most important thing to focus on in the business as a landlord?
- Tips on working with rental properties together with your spouse? Apparently, we make it look easy! 😅
This was a fun episode with several subject matters to cover!
LINKS
👉 TOGGLE Insurance
Your Landlord Resource has teamed up with Toggle, a division of Farmers Insurance that offers competitive pricing of renters insurance for tenants.
Policies can start as low as $5 a month!
Copy and share our link with your tenants to get them started: http://go.gettoggle.com/SH1E
Download this PDF to present to your tenants with your renters insurance request! Toggle Renters Insurance Flier.pdf
👉 Episode 36: ESA Insights and Pet Rules, an Interview with Logan Miller of Our Pet Policy
👉 Episode 28: The Cash Reserves Blueprint: Protecting & Expanding Your Portfolio
👉 Episode 6: Creating Standard Operating Procedures For Your Business
👉 Episode 4: The Importance of Rental Property Inspections
👉 Hemlane is a software that is built to grow with your needs as a landlord.
For a minimal amount, there’s a really good basic package but what we love is the option to upgrade and add 24/7 maintenance management on.
It gets better! If you reach a place where you are ready to hand off management to a property manager, Hemlane has that too under their “Complete” option.
👉 TurboTenant is a great option for landlords with just a few doors or for those who may be new to using rental property software.
For the most part, TurboTenant’s software is free to use so they are perfect for those on a tight budget.
👉 Fair Housing Institute: Courses to certify you or employees in all Fair Housing laws.
Get 15% OFF all courses! Use code: YLR2023
👉 Purchase our 6-Page Inspection Checklist ($5.00). For properties up to 4 bedroom/4 bath and includes all pertinent areas to be inspected, including the exterior.
To date, this product is the only item we charge for. Help support our site while getting a valuable tool you can use over as many times as you’d like.
👉Help other DIY landlords discover what we have to say… Please leave us a review of our podcast!
On Apple Podcast or ITunes, please scroll to the bottom of our main page (with our logo) and click “Write a Review”.
On Spotify, please click the 5.0⭐ on our the front page of our podcast page.
👉 Join our Private Facebook Group! A space to ask questions and network with other DIY landlords.
👉 Follow us on Instagram, Like us on Facebook
👉 Want the podcast link emailed to you weekly? Subscribe to our FREE newsletter, Landlord Weekly!
▪️Landlord Tips ▪️ Early Access to Our Blogs ▪️ Landlord Specific Articles by Other Industry Pro’s ▪️Podcast Links
Check out samples of our newsletter👇 If you love it, you can subscribe from there!
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This week on the podcast we are taking a step back from the educational focus of the Your Landlord Resource podcast and getting a little bit personal.
We have A LOT going on right now, personally, and professionally, so we thought maybe we would share what’s going on!
We are in the process of selling our last single family home rental which will grant us capital to buy the next multifamily. So, we will talk all about that process and the alternatives we have to make a decision on.
In our Sacramento complex, we are pivoting and converting one of our studio apartments from a long-term rental into a mid-term rental. So, we will discuss how that process is going. We will also talk about a potential remodel to a unit that is much needed as well as some other upgrades we are doing to enhance our tenant’s experience.
Your Landlord Resource has been our main focus for the last year so we will tell you about our plans coming up with that little side hustle we got going.
And don’t fret, we have some personal projects coming up that we will bring you in on as well!
Our lives are CRAZY busy with a lot of comings and goings so grab a seat and come hang with us while we fill you in on what makes up our lives!
LINKS
👉 Kwikset Halo Smart Lock: Wi-Fi enabled (no hub required), you can use the Kwikset app to remotely lock and unlock, share guest access, view activity history, and create up to 250 codes. We purchased it with the Halifax Interior/Exterior Passage Doorknob.
👉 Kwikset Re-key Set: This SmartKey system has been a lifesaver at unit turnovers and will continue to be so, even with the Kwikset Keyless entry systems!
👉 Email us your thoughts! Should we create a course about:
➡️ How to place your ideal tenant
➡️ Creating your operations manuals
➡️ Take marketing photos of your unit like a professional
👉 Stacie@yourlandlordresource.com
👉 Kevin@yourlandlordresource.com
👉Help other DIY landlords discover what we have to say… Please leave us a review of our podcast!
On Apple Podcast or ITunes, please scroll to the bottom of our main page (with our logo) and click “Write a Review”.
On Spotify, please click the 5.0⭐ on our the front page of our podcast page.
👉 Join our Private Facebook Group! A space to ask questions and network with other DIY landlords.
👉 Follow us on Instagram, Like us on Facebook
👉 Want the podcast link emailed to you weekly? Subscribe to our FREE newsletter, Landlord Weekly!
▪️Landlord Tips ▪️ Early Access to Our Blogs ▪️ Landlord Specific Articles by Other Industry Pro’s ▪️Podcast Links
Check out samples of our newsletter👇 If you love it, you can subscribe from there!
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Who is better to give you questions to ask a property manager than a professional property manager!
This is part 2 of last week’s episode we discuss over 50 questions to ask when you are interviewing a new property manager to take over your rental properties. If you have not had a chance to listen to part one, STOP. Go back and listen to Episode 39 before continuing to this one.
In this episode we go over questions that pertain to:
- Leases
- Tenant screening
- Maintenance and inspections
- Move-in/move-out procedures, including marketing and renewals!
- Evictions
- Tenant communication
We not only give you the questions to ask, but we also discuss WHY they are important to you as a rental property owner. This is key because each of you has different aspects of property management that are important to you. So now you can decide how much weight to give the question based on its significance to your success.
I don’t know about you, but one way I learn best is hearing stories of what others did right or wrong to help me understand its importance. So, we make sure to share personal stories of not only how we manage our own properties, but how we manage properties for others and several issues we have found while using a property manager for our out of state property.
A LOT of good stuff in the episode! Part 2 will drop in a few days just so you don’t have to wait a whole week and lose your momentum on the questions.
BONUS! We created a Property Manager Questionnaire of all the questions we suggest you ask so you can just blast it out in an email or use it as a reference if interviewing a property manager in person! Download it FREE until December 31st, 2023, before we begin charging a nominal fee!
LINKS
👉 Property Management Questionnaire: FREE for a limited time! A PDF with over 60 must ask questions all set up in with boxes for the PM to answer in or for you to use for notes if interviewing them in person.
👉 YLR Episode 7: A Guide to Move Out Procedures and Security Deposits
👉 YLR Episode 20: The Nuts and Bolts of Residential Rental Property Insurance
👉 YouTube Video: Troubleshooting a garbage disposal. We include this link this in our tenant binder and send it to them when they text for help.
👉 Hemlane: A great alternative to using a property manager when you want some involvement in the management process. Each plan was configured to grow with you so you can eventually hand all management off to a professional PM within their system. They have a FREE 14-day trial (no credit card) if you’d like to sign up and try them out.
👉 Read our blog: Tips on Taking Professional Looking Rental Property Photos
👉Help other DIY landlords discover what we have to say… Please leave us a review of our podcast!
On Apple Podcast or ITunes, please scroll to the bottom of our main page (with our logo) and click “Write a Review”.
On Spotify, please click the 5.0⭐ on our the front page of our podcast page.
👉 Join our Private Facebook Group! A space to ask questions and network with other DIY landlords.
👉 Follow us on Instagram, Like us on Facebook
👉 Want the podcast link emailed to you weekly? Subscribe to our FREE newsletter, Landlord Weekly!
▪️Landlord Tips ▪️ Early Access to Our Blogs ▪️ Landlord Specific Articles by Other Industry Pro’s ▪️Podcast Links
Check out samples of our newsletter👇 If you love it, you can subscribe from there!
FOR TRANSCRIPT OF THE EPISODE, CLICK HERE
Listen On:
Who is better to give you questions to ask a property manager than a professional property manager!
We are discussing over 50 questions (more like 65) to ask when you are interviewing a new property manager to take over your rental properties.
In this episode we go over questions to give you better insight into their personal and business background as a property manager as well as contracts and fee structures. We also give you questions to learn more about their legal history and the different forms of communication they use.
We not only give you the questions to ask, but we also discuss WHY they are important to you as a rental property owner. This is key because each of you has different aspects of property management that are important to you. So now you can decide how much weight to give the question based on its significance to your success.
Not only do we share personal stories of how we manage our own properties, but how we manage properties for others and several issues we have found while using a property manager for our out of state property.
A LOT of good stuff in the episode! Part 2 will drop in a few days just so you don’t have to wait a whole week and lose your momentum on the questions.
And don’t you worry! We have created a questionnaire of all the questions we suggest you ask so you can just blast it out in an email or use it as a reference if interviewing a property manager in person! We will drop that with the next episode so keep an eye out for it!
LINKS
👉 PACER (Public Access to Court Electronic Records) to look up if a property management company has been sued or not.
👉 BiggerPockets: FREE accounts have access to unlimited forum posts, free network of investor friendly agents and lenders, and a newsletter.
👉Help other DIY landlords discover what we have to say… Please leave us a review of our podcast!
On Apple Podcast or ITunes, please scroll to the bottom of our main page (with our logo) and click “Write a Review”.
On Spotify, please click the 5.0⭐ on our the front page of our podcast page.
👉 Join our Private Facebook Group! A space to ask questions and network with other DIY landlords.
👉 Follow us on Instagram, Like us on Facebook
Want the podcast link emailed to you weekly? Subscribe to our FREE newsletter, Landlord Weekly!
▪️Landlord Tips ▪️ Early Access to Our Blogs ▪️ Landlord Specific Articles by Other Industry Pro’s ▪️Podcast Links
Check out samples of our newsletter👇 If you love it, you can subscribe from there!
FOR TRANSCRIPT OF THE EPISODE, CLICK HERE
Listen On:
In this episode of Your Landlord Resource Podcast, we discuss the importance of showing kindness to tenants, especially during the holiday season.
We explore the reasons behind giving gifts to tenants, address common concerns and misconceptions, and offer practical tips for thoughtful gift-giving. We are talking easy peasy, can cost less than $10 (and in some cases $5), gifts that let them know you are thinking of them during the holidays.
Of course, you know we have to include some good tips on important items to communicate with your tenants. Not saying you will be their hero, but a simple reminder email of certain issues they may experience over the next couple of months will be appreciated.
Give this episode a listen. Whether you are a gift giver or not, we think you will enjoy what we have to say.
LINKS
👉 Email your questions for our Q&A Episode!
Stacie@YourLandlordResource.com
Kevin@YourLandlordResource.com
We recommend these to all our tenants and have started to include them with our welcome basket. The tiny holes are much easier to repair on our textured walls, making the vacancy turnover much more tolerable.
👉 Gift Guide
Notecards: Both are available in bulk. Which means you can buy one and separate them into equal groups of 4, 6, or 8 sets of cards and secure them with ribbon or twine to make a very simple, inexpensive, yet thoughtful gift.
Nature Prints, Unisex. Sold in pack of 48 for $8.99
Floral Artwork, Feminine. Sold in pack of 20 for $8.99
Water Bottle: 20oz insulated water bottle in a variety of colors. $12.99
Contigo Insulated Coffee Mug with Handle: $11.19
Insulated Hot or Cold Bottle: Available in a variety of colors, 2 Pack $9.99
32 oz. Wide Mouth Mason Jars $12.99 (4 Pack) to fill with a treat like candy (Hershey Kisses) or granola (we buy the Kirkland brand at Costco for around $8 and it fills 3 of these jars).
👉 Pet Friendly De-Icing Solution, Calcium Chloride and Salt Free, Pet Safe Ice Melter.
👉Help other DIY landlords discover what we have to say… Please leave us a review of our podcast!
On Apple Podcast or ITunes, please scroll to the bottom of our main page (with our logo) and click “Write a Review”.
On Spotify, please click the 5.0⭐ on our the front page of our podcast page.
👉 Join our Private Facebook Group! A space to ask questions and network with other DIY landlords.
👉 Follow us on Instagram, Like us on Facebook
Want the podcast link emailed to you weekly? Subscribe to our FREE newsletter, Landlord Weekly!
▪️Landlord Tips ▪️ Early Access to Our Blogs ▪️ Landlord Specific Articles by Other Industry Pro’s ▪️Podcast Links
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This is the final episode where we discuss leases and addendums, part 3 of a 3-part series. If you have not yet listened to episodes 32 or 33, go give those a listen before you dive into this episode where we are talking all about the addendums that can accompany the base lease used for your rental properties.
We started this series with the base lease (ours is 21 pages), where we discussed each section, paragraph by paragraph, that should be included in every landlord’s lease, and we explained why.
The first two episodes covered the main components of the lease that MUST be in every lease and items that are more to cover yourself with regards to your criteria or conditions and standards you set for your rental properties. Things like prohibitions, repairs to the property, and appliances.
This episode we go over many of the addendums that are commonly used in both single-family homes and multifamily rentals. From landscaping to storage and garages, as well as mold, lead, and asbestos notifications. Plus, many more!
We are sharing personal stories to help our listeners understand their importance, as not every area pertains to all rental properties.
We do not expect DIY landlords to write their own leases! You can purchase REALLY GOOD leases online at EZ Landlord Forms. Check out the link and discount code in our links below!
Already have a lease? If you feel anything you learn in these 3 episodes pertains to your rental property, take your lease to your legal team and have them add it in. We hope you enjoy this lease and addendum breakdown!
LINKS
👉 Email your questions for our Q&A Episode!
Stacie@YourLandlordResource.com
Kevin@YourLandlordResource.com
We recommend these to all our tenants and have started to include them with our welcome basket. The tiny holes are much easier to repair on our textured walls, making the vacancy turnover much more tolerable.
✔️State Specific Leases
✔️ 400 Forms to make your landlord-tenant relationship top notch!
✔️ 200 FREE forms for those not ready to purchase.
✔️ 4.8 Rating with over 5000 Reviews!
✔️ Pro Members get access to ALL leases and forms for $12 per month OR $75 if you purchase the annual membership.
✔️ YOU CAN BUY LIFETIME FORMS for $399!
USE CODE 𝐒𝐓𝐀𝐂𝐈𝐄𝟏𝟓 to get 15% OFF ALL first-time purchases, EVEN THE ANNUAL or LIFETIME FORMS!
Check out EZ Landlord Forms today!
👉Help other DIY landlords discover what we have to say… Please leave us a review of our podcast!
On Apple Podcast or ITunes, please scroll to the bottom of our main page (with our logo) and click “Write a Review”.
On Spotify, please click the 5.0⭐ on our the front page of our podcast page.
👉 Join our Private Facebook Group! A space to ask questions and network with other DIY landlords.
👉 Follow us on Instagram, Like us on Facebook
Want the podcast link emailed to you weekly? Subscribe to our FREE newsletter, Landlord Weekly!
▪️Landlord Tips ▪️ Early Access to Our Blogs ▪️ Landlord Specific Articles by Other Industry Pro’s ▪️Podcast Links
Listen On:
This week we are in part 2 of a 3-part series on leases and addendums and pick up where we left off in episode 32. If you have not yet listened to that one, give it a listen before you dive into this episode.
We are doing a mini masterclass on leases and addendums for rental property owners, and these are episodes you will NOT want to miss!
Starting with the base lease (ours is 21 pages), we discuss each section that should be included in every landlord’s lease, and we explain why.
Where last weeks episode covered the main components of the lease that MUST be in every lease, this week we are discussing items that are more to cover yourself with regards to your criteria or conditions and standards you set for your rental properties. Things like prohibitions, repairs to the property, and appliances.
Even if you use a preformed lease or one from your property manager, you need to know THIS ONE PART of your rental property business. What’s in your lease contract is what covers you and your assets.
We are sharing stories and examples of certain sections to help our listeners understand their importance, as not every area pertains to all rental properties.
By going over our very comprehensive lease, section by section, paragraph by paragraph and discussing each and every clause and why it is important, you’ll soon be mastering leases and addendums too.
We do not expect DIY landlords to write their own leases! You can purchase REALLY GOOD leases online at EZ Landlord Forms. Check out the link and discount code in our links below!
Already have a lease? If you feel anything you learn in these 3 episodes pertains to your rental property, take your lease to your legal team and have them add it in.
LINKS
👉 Bed bugs:
EPA website with many resources on bedbugs: https://www.epa.gov/bedbugs
Great resource on all things bedbugs: https://www.pestworld.org/all-things-bed-bugs/
Video/Free Course on bedbugs: https://stopbedbugs.org/
👉 Mold: California booklet required to be given to all tenants with lease
👉 Listen to our podcast, Episode 11: Inheriting Tenants with Your New Rental Property? Here’s What You Need to Know.
This episode discusses before, during, and after how to deal with tenants when there is a sale of the investment property they reside in.
✔️State Specific Leases
✔️ 400 Forms to make your landlord-tenant relationship top notch!
✔️ 200 FREE forms for those not ready to purchase.
✔️ 4.8 Rating with over 5000 Reviews!
✔️ Pro Members get access to ALL leases and forms for $12 per month OR $75 if you purchase the annual membership.
✔️ YOU CAN BUY LIFETIME FORMS for $399!
USE CODE 𝐒𝐓𝐀𝐂𝐈𝐄𝟏𝟓 to get 15% OFF ALL first-time purchases, EVEN THE ANNUAL or LIFETIME FORMS!
Check out EZ Landlord Forms today!
👉Help other DIY landlords discover what we have to say… Please leave us a review of our podcast!
On Apple Podcast or ITunes, please scroll to the bottom of our main page (with our logo) and click “Write a Review”.
On Spotify, please click the 5.0⭐ on our the front page of our podcast page.
👉Join our Private Facebook Group! A space to ask questions and network with other DIY landlords.
Want the podcast link emailed to you weekly? Subscribe to our FREE newsletter, Landlord Weekly!
▪️Landlord Tips ▪️ Early Access to Our Blogs ▪️ Landlord Specific Articles by Other Industry Pro’s ▪️Podcast Links
Listen On:
Whoa, is this a doozy of an episode! Or should I say our next 3 episodes!
We are doing a mini masterclass on leases and addendums for rental property owners, and this is an episode you will NOT want to miss!
Even if you use a preformed lease or one from your property manager, you need know THIS ONE PART of your rental property business. What’s in your lease contract is what covers you and your asset.
Starting with the base lease (ours is 21 pages), we discuss each section that should be included in every landlord’s lease, and we explain why.
We are sharing stories and examples of certain sections to help our listeners understand their importance, as not every area pertains to all rental properties.
By going over our very comprehensive lease, section by section, paragraph by paragraph and discussing each and every clause and why it is important, you’ll soon be mastering leases and addendums too.
We do not expect DIY landlords to write their own leases! You can purchase REALLY GOOD leases online at EZ Landlord Forms. Check out the link and discount code in our links below!
Already have a lease? If you feel anything you learn in our next 3 episodes pertains to your rental property, take your lease to your legal team and have them add it in.
LINKS
✔️State Specific Leases
✔️ 400 Forms to make your landlord-tenant relationship top notch!
✔️ 200 FREE forms for those not ready to purchase.
✔️ 4.8 Rating with over 5000 Reviews!
✔️ Pro Members get access to ALL leases and forms for $12 per month OR $75 if you purchase the annual membership.
✔️ YOU CAN BUY LIFETIME FORMS for $399!
USE CODE 𝐒𝐓𝐀𝐂𝐈𝐄𝟏𝟓 to get 15% OFF ALL first-time purchases, EVEN THE ANNUAL or LIFETIME FORMS!
Check out EZ Landlord Forms today!
👉Your Landlord Resource has teamed up with Toggle, a division of Farmers Insurance that offers competitive pricing of renters insurance for tenants.
Policies can start as low as $5 a month!
Copy and share our link with your tenants to get them started: http://go.gettoggle.com/SH1E
Download this PDF to present to your tenants with your renters insurance request! Toggle Renters Insurance Flier.pdf
👉 KwikSet Easy Re-Key Set Landlords! YOU MUST change the locks/rekey at every unit turnover. You have no idea whom your previous tenant gave a key to, and it is your responsibility (when it comes to access) to keep the new tenant safe from intruders.
Locksmiths can charge well over $50 to do this task!
If you have Kwikset Smartkey locks, you can purchase these replacement keys and rekey the unit yourself in a matter of minutes for $6.
👉Help other DIY landlords discover what we have to say… Please leave us a review of our podcast!
On Apple Podcast or ITunes, please scroll to the bottom of our main page (with our logo) and click “Write a Review”.
On Spotify, please click the 5.0⭐ on our the front page of our podcast page.
👉Join our Private Facebook Group! A space to ask questions and network with other DIY landlords.
Want the podcast link emailed to you weekly? Subscribe to our FREE newsletter, Landlord Weekly!
▪️Landlord Tips ▪️ Early Access to Our Blogs ▪️ Landlord Specific Articles by Other Industry Pro’s ▪️Podcast Links
Listen On:
You might think this episode about Halloween tips for landlords does not pertain to you but take a minute to hear us out.
Halloween is a very festive time of year and is LOVED by people of all age groups, not just families with small children. I mean, there’s a reason Disney starts their Halloween festivities the day after Labor Day and continues it through October 31st!
These people love to decorate their homes, mostly the front yard. When those homes are rental properties, do they still have the right to decorate? Of course, but sometimes with limits.
What are the risks associated with Halloween? Lots! Think about the décor, parties, trick or treaters, and even the pets who live in your rentals.
In this episode we are talking all about Halloween festivity risks and covering what items landlords should be communicating with tenants. Plus, we include tips on what they can do to limit these risks as rental property owners.
LINKS
👉Your Landlord Resource has teamed up with Toggle, a division of Farmers Insurance that offers competitive pricing of renters insurance for tenants.
Policies can start as low as $5 a month!
Copy and share our link with your tenants to get them started: http://go.gettoggle.com/SH1E
Download this PDF to present to your tenants with your renters insurance request! Toggle Renters Insurance Flier.pdf
👉Help other DIY landlords discover what we have to say… Please leave us a review of our podcast!
On Apple Podcast or ITunes, please scroll to the bottom of our main page (with our logo) and click “Write a Review”.
On Spotify, please click the 5.0⭐ on our the front page of our podcast page.
👉Join our Private Facebook Group! A space to ask questions and network with other DIY landlords.
Want the podcast link emailed to you weekly? Subscribe to our FREE newsletter, Landlord Weekly!
▪️Landlord Tips ▪️ Early Access to Our Blogs ▪️ Landlord Specific Articles by Other Industry Pro’s ▪️Podcast Links
Listen On:
So, this might surprise you, but cash reserves are not a one size fits all concept. There are a lot of factors that contribute to how much you should set aside, like where you are in your real estate investment journey.
Of course, there is the subject of mindset to consider as well so we go over that along with different methods to determine how much cash to reserve.
This episode gives rental property owners a blueprint on the methodology behind determining how much cash reserves is enough.
We take a deep dive into what cash reserves are, do you need them, and if you do, how to determine how much will make you feel comfortable should you get into an unfortunate situation and need to draw on them.
LINKS
👉Help other DIY landlords discover what we have to say… Please leave us a review of our podcast!
On ITunes, please scroll to the bottom of our main page (with our logo) and click “Write a Review”.
On Spotify, please click the 5.0⭐ on our the front page of our podcast page.
Want the podcast link emailed to you weekly? Subscribe to our FREE newsletter, Landlord Weekly!
▪️Landlord Tips ▪️ Early Access to Our Blogs ▪️ Landlord Specific Articles by Other Industry Pro’s ▪️Podcast Links