| |
| |
|
Leases & Leasing Information |
|
|
|
True Tenant Tales, Volume One
Working with tenants can be an amazing experience. (Owners and contractors are equally astounding, but those are subjects for another day.) It seems I get my most memorable anecdotes over the phone. Here are a few of the ones I've culled from my blog and experience and put together for your reading amazement. First was a late-night phone call I took: *beeeep* "Hello?" *beeeep* "Hi, my smoke alarm keeps going off." *beeeep* "Is there a fire?" *beeeep* "No. It does this every time I open the oven." *beeeep* "Well have you cleaned the oven?" *beeeep* "I've opened the windows and door but it won't stop." *beeeep* "Why don't you wave the smoke away with a magazine?" *beeeep* "Okay, I've got the fan in the kitchen now. What did you say about the oven?" *beeeep* "Have you cleaned it? There's a product you can buy called EZ-Off. It's, well, pretty easy to use." *beeeep* "Really? Okay, I guess I'll try that." *beeeep* "I think it may help." "Thanks. Have a good night." "Good night." You'll notice I didn't suggest disconnecting the battery. ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ The next was a call in the late morning. "Landlord for Hire." "Terence, I have a really bad problem." "What's wrong?" "There's a bee between the door and the storm door, and I can't get out." "Well, I wouldn't swat it. It's probably as scared as you are." "Okay. Can you come over and open the door for me?" "Well, I'm a half-hour drive from there. Is there someone closer you could call?" "Not really." "How about this: open the inside door and the storm door very quickly, and then close the inside door. You'll bring the bee out with you and it will fly away. You'll be doing it a favor." "What if it gets inside?" "Be quick and it won't - I have faith in you. Call me if you're still stuck after you try it." I didn't get a call back. ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Springtime brought this little gem: "Terence, it's really hot in here? Why is the heat still on?" "Have you turned it from "Heat" to "Cold?" "Um, no . . . " ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ The last I have right now was a simple voice mail, of chilling consequences: "Mr. Terence, I wanted to call to let you know there's a problem with the drain in the basement. Thank you." "A problem" was three feet of water and human waste in the basement. The tenant was late on her rent and, according to the plumber, must have endured the stench for a week or more before she screwed up the courage to call me. That was a rental I owned myself, and that tenant taught me a lot of the lessons I use to guide my property management philosophy, including not selecting tenants out of fear, not accepting excuses for late rent, and always assuming that your tenants are better at understatement than you are! © 2005 Terence P Ward, all rights reserved.Terence P Ward is the President of Landlord for Hirehttp://www.landlordforhire.com, a residential property management service of Green and Clean Corporationhttp://www.Green-n-Clean.biz, based in the Mid-Hudson Valley of New York State. You may find contact information for him on either of his company's web pages.
MORE RESOURCES:
Leases-Leasing - Google News |
|
|
|
RELATED ARTICLES
Smart Car Leasing for Beginners Car leasing is extremely popular because it provides an attractive method of driving an automobile that you might not otherwise afford. It allows you to make lower monthly payments than with traditional car purchase loans. True Tenant Tales, Volume One Working with tenants can be an amazing experience. (Owners and contractors are equally astounding, but those are subjects for another day. Getting Your Venture Lease Approved Each year venture capitalists fund more than 2,500 start-up companies in the U.S. The Lease And Purchase Option If you have an investment property, should you rent it or sell it? The answer to that question is that you should do both. If you have lots of time on your hands and are handy with tools, you can choose to rent out your property. Ten Ways Start-ups Use Venture Leases And Loans To Generate Millions The rise of venture leasing and lending has created an opportunity for sophisticated entrepreneurs to gain a competitive advantage. Savvy entrepreneurs are using venture leases and loans to generate millions of dollars for shareholders by leveraging existing venture capital. Using Equipment Leasing as a Competitive Weapon Most great generals know how to design winning battle plans. They also know how to use their resources to gain advantages over the enemy. Warning - This Lease Might Explode Any Minute Mike Caringi, owner of a small New Jersey business that sells pumps, found himself facing a gut-wrenching dilemma last summer. Should he continue paying $ 1,500 each month for essential telecommunications services he no longer receives and for leased equipment he claims was never installed? Or, should he stop making payments and face a potential lawsuit from the firm that financed the equipment under a 'hell or high water' lease? Mr. So You Want to be a Landlord? The residual income from owning rental properties may bring more money into your life than the fast flip in the long term. If nothing else, the stress is reduced because a well-chosen investment will pay for itself until you the market is ready for you to sell. Lease Contracts - The Meaning of Joint and Several When you see the phrase "joint and several" in alegal document or contract it means that that the partieson one side of the agreement are responsible individuallyand collectively for the terms of the agreement.Example: In the case of two tenants signing a lease agreement,"joint" means they are jointly responsible for the rent. Landlord Tips And Tricks Every real estate investor dealing in rental homes has done his own clean-up and fix-up, at least in the early years. Landlords also become very skilled at managing tenants after being burned a few times. Dodging Leasings Grim Reaper: Navigating a Payment Default In her third Harry Potter novel, ?The Prisoner of Azkaban?, J.K. How Venture Leasing Added Millions To A Startups Equity Value Craig Berman beamed noticeably after completing his board presentation. Berman, CEO of a startup that develops nanotechnology applications for the defense industry, had just closed a $ 20 million equity round. What Happens When the Anchor Tenant Moves and You Are On a Ten-year Lease? Recently there was an article in the Houston Business Journal of the anchor store in many shopping centers through out Houston pulling out. Kmart, took out some stores, so did three other big box stores and a few consumer electronics places and larger furniture stores, now Albertson's has left. Pricing Your Apartments How do you fix a price point for an apartment? Take a guess? Figure it based on your carrying costs? Check comps and do a market analysis? Charge whatever the market will bear? If you're looking to place quality tenants, less is sometimes more.We all want to make money with income property; the more the better! When you're looking for a new tenant, however, don't assume that you're going to make more money by charging more. Equipment Leasing Blunders That Can Cost Your Firm a Mint Rod McHenry, the financial vice president of a document imaging company, thought he had great cause for celebrating. He had signed an unbelievable $370,000 lease proposal covering computer servers, workstations, software and other networking equipment. Ten Ways to Save a Bundle on Your Next Lease According to the Equipment Leasing Association ("ELA"), U.S. Venture Leasing: Startup Financing On the Rise According to Pricewaterhouse Coopers, investment by institutional venture capitalists in startups grew from less than $3.0 billion at the beginning of the 1990's to over $106 billion in 2000. How To Choose An Equipment Leasing Company Leasing has become a preferred form of equipment financing, accounting for more than 30% of business equipment acquisitions. Each year, thousands of U. Interim Rent: Equipment Leasing's Trap Door Many lessees enter into lease transactions that they believe are competitive based on faulty rate assumptions. Most lease rate calculations don't take interim rent into consideration. Leases And Tenants - The Spooky Tenant You, Mr. Landlord are pleased to find qualified tenants for your rental house.
|
  |
| © 2007 |
