Join us on August 4, 2012! 

Topic: Property Management

Instructor - Don Beck,   mgmtexpert@aol.com 

1. Landlords # 1 Goal            

2. Average life of a Landlord

3. Finding Good Tenants

-          Fair Housing Guidelines – race, color, religion, national origin, sex, age, familial status, handicap

- Who are testers and what is their job

- Say the same thing to everyone

- Examples of discrimination suits against Landlords

4. Forms of Advertising

- Paper

- Existing tenants

- Neighbors

- Target marketing

5. Pets verses No Pets

- Can you discriminate against pets?     

- Can you allow only certain breed -- Check with your Insurance company

- Can you limit by weight? -- Best apt. pets are over or under 20 lbs.

- Disadvantages of pets

- Damage unit, bark, not picked up after, attacks visitors, smell in carpet/unit 

- Advantages of pets

- Additional rent, 2/3 landlords don’t allow so strong rental market, don’t  move as often, collect additional security dep,  require tenant to carry renters insurance with landlord listed as additional insured

- When is the best time to advertise for a pet?   

- How to determine serious from not serious prospective tenant pet owners

- Visit current residence – check out back yard and screen door

- Visit neighbors

 6. Qualifying Prospective Tenants

- Phone Screening Techniques

- Pre-qualify over phone - income, length of employment and residence,  # of occupants, # pets, current rent, co-signer if don’t qualify

- Explain what’s in unit, who pays utilities with approx. cost

- Application fee

- Have them drive by first then schedule appointment

- If first to schedule, they must call to confirm appointment

7. Scheduling Appointments

- Open house showings

- 15 min. apart

- Contact tenant to schedule showing

8. Showing the Unit

- Show drivers license before entering

- If occupied - two do showing

- What to observe

- Tricks used by professional tenants

9. Rental Application

- Qualify as if you will not be paid. Assume everything on application is false

- Confirm financial qualifications:  pay stubs, other income sources, tax return

- Contact: previous landlords, current landlords, neighbors, employer, run

credit  check, judgment search, felony, and verify social security number

- Visit current residence unannounced

-  Props to use to get into the house

- How to tell if talking to real landlord

- Prospective tenant rating sheet

10. Acceptance and Rejection of Application

- Deposit to hold unit

- Denial of tenancy

- How long hold rejected applications

- Do not show or discuss credit report to applicants

11. Rents

- Ways to collect

- Direct deposit, office, P.O. Box, at their home, credit card 

- Length of lease determined by time of year

- Rent increase notice – Ways to deliver  (In person, certified mail, regular mail)

- Late fees verse rent credits

- Advantages and disadvantages of each

12. Lease

-          52 landlord friendly lease clauses

13. Collecting on Judgments using the lease and IRS

SJREIA is a non-profit organization. Please remember that all speakers are actual real estate investors who are volunteering their time.  

Event Organizer:  Nina Davenport

When: Saturday, August 4, 2012 from 9am- 12noon

Where: Beneficial Bank - 1901 Marlton Pike East, Cherry Hill, NJ

Cost:

$20 per member, $30 member couple

$20 per DIG member, $30 DIG member couple

$30 per non-member, $50 non-member couple

Seating limited. RSVP deadline August 3rd.