Landlords to get automatic police updates

The Illinois town of Rockford is about to launch a new landlord registry that will alert property owners of any 911 dispatches made to their rental. The Rockford Apartment agency said they hope the new system will help “bring stability” to neighborhoods, and help landlords to make better-informed decisions about the tenants residing in their rental properties.

In order to register for the alerts, landlords will have to submit their contact information and addresses of their rental units. Those who do not comply could face fines by the city.

 

The way it works is once emergency services are dispatched to a property, the police will update the database and send emails to landlords. Both residents and property managers are hopeful this service will aid them in better managing their tenants.

 

Landlords will know if the police are called to rentals

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Silly Excuses and Tricks Used By Tenants

New landlords beware: Some tenants or applicants can be deceptive. If you are gullible and fall for the lies, you could lose money on your investment. Here are some tips for spotting and exposing a tenant’s excuses.

“The bank messed up.” – This excuse might be given if a rent check bounces. Don’t be fooled. In 2013, banks have excellent technology and usually don’t make mistakes.  However, it could happen. If a bank error did occur, the tenant should easily be able to provide a letter sent directly from their financial institution. If the tenant cannot provide any letter from the bank, than you should be skeptical. Do not waiver on charging a late fee.

“I just forgot to mail the rent check, again.”  - It’s understandable that mistakes can happen once in a blue moon. Chances are though if you let a tenant get away with it once, they will do it again and again. Stay firm on charging your late fees. If you slap the tenant with a $25 fine, it’s likely they will not “forget” to mail the rent again. Don’t be the nice landlord and let it slide month-after-month, or you could be taken for a ride.

Falsifying employment. – A really deceptive tenant applicant might try to fake their job status by providing landlords with a phony phone number to their so-called place of employment. You should verify all business telephone numbers with published listings, so you know if the place you call for a reference is an actual employer. Also, conduct a thorough tenant screening with employment verification included in the package.

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Landlords: Easy Updates For the Kitchen

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Last month, we talked about cheap and easy ways to freshen up the bathroom in your rental unit. This month, we offer landlords and property owners advice to making their kitchen look good for less.

Freshen Up Cabinets If you are a new landlord, costly cabinet replacement or refacing is likely not in your budget for 2013. The good news is that you can improve their look without breaking the bank. Cabinets can be given new life with a good cleaning, and the addition of new hardware. If you are feeling really ambitious, sanding and painting the doors can change the look entirely.

Put in an island A kitchen island is functional in so many ways. They can provide extra counter-space for eating, food prepping, and most importantly more kitchen storage. Tenants love having more storage. The best part is, sometimes you can find really nice second-hand islands on Craigslist or in consignment stores.

Improve the backsplash If you are not a handy landlord, the good news is you can have new, inexpensive backsplash installed for about $10 a square foot. If that isn’t in the budget for this year, than consider re-caulking the area behind the countertop and wall to freshen up any unsightly areas.

Replace lights or ceiling fans Replacing outdated light fixtures or a ceiling fan can make a room feel brand new. If your kitchen has decades-old brass fixtures consider replacing with more modern, sleek options. It will immediately appeal to prospective tenants and make your rental instantly more desirable.

The kitchen is the heart and soul of any home. By making a few simple changes, you can create an inviting area that is sure to please any tenants.

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How Landlords Can Improve The Bathroom in a Rental

One of the best ways landlords and property owners can make their properties more appealing to renters is by making improvements to the bathroom. However, most new landlords probably don’t want to get caught up in an expensive renovation during times of economic uncertainty. The good news is, there are ways to improve the bathroom without breaking the bank:

Freshen up grout and caulk. New tiling can be a very expensive upgrade. A simple way to avoid those costs is to clean up your existing tiles by re-grouting and re-caulking around the sink and tub areas. Grout and caulk are relatively cheap, and can make such a huge impact.

Replace faucet fixtures. If your rental property’s sink and shower faucets are more than fifteen years old, they probably aren’t energy efficient. New fixtures don’t have to be expensive, and they will make your bathroom shine. Big box stores sell faucets starting around the $30-$40 range.

Add storage. If the bathroom space in your rental is small, tenant applicants will appreciate having more storage options.  Consider adding shelves or cabinets to a small bathroom area to make the space more appealing.

Don’t just paint the walls. If a new sink and vanity isn’t in your budget, consider sanding and painting the existing one. A fresh coat of paint can make an otherwise older, outdated vanity look brand new.  Accent the piece with new knobs and modern drawer pulls. Your tenants will not even know the cabinetry isn’t brand new.

Update the little things. Don’t overlook the smaller, inexpensive fixtures. Replacing old toilet paper holders, towel racks and adding a quieter, more efficient ventilation fan can bring your bathroom’s style & functionality into the new millennium.

Many real estate experts believe that updating a bathroom is a great way to add value to your property.  While a huge renovation may not be in the budget for 2013, even small upgrades to your bathroom will make a huge difference in the appeal of your rental. 

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New landlords must work hard to follow landlord-tenant laws

When new landlords get into the business, sometimes they think success comes down to using common sense and building relationships. They think if they perform the proper tenant screening and get someone to sign a lease, they’ll be good to go.

While in theory these are two of the most basic practices in the business of renting property, a good landlord understands that the tenant-landlord relationship is regulated by very important laws, laws you should familiarize yourself with before that first lease is signed. Most aspects of landlord-tenant relationships are regulated by state and local landlord-tenant laws. But federal law also comes into play, especially when it comes to preventing forms of discrimination when selecting tenants and making proper accommodations for their needs.

Landlord-Tenant Law protects landlords and tenants in the renting of real property, both residential and commercial. It defines the rights and obligations of landlords and tenants during the tenancy. A number of states have based their statutory law on either the Uniform Residential Landlord and Tenant Act (URLTA) or the Model Residential Landlord Tenant Code. Some city and county governments also have enacted various landlord-tenant regulations that you should be aware of before beginning your business.

Failure to obey the law can be costly, and ignorance of the law is not a legal excuse. So look up the various state and local laws and read through them carefully before you select your first tenant and sign your first lease.

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