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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 Hirewww.landlordforhire.com">http://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.
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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. 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. Leases And Tenants - The Spooky Tenant You, Mr. Landlord are pleased to find qualified tenants for your rental house. 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. Lease Contracts - The Meaning of Joint and Several When you see the phrase "joint and several" in a legal document or contract it means that that the parties on one side of the agreement are responsible individually and 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. 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. 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. Ten Ways to Save a Bundle on Your Next Lease According to the Equipment Leasing Association ("ELA"), U.S. 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. Explore An Effective Revolutionary Approach To Traditional Business Financing For business owners who need working capital now there is a revolutionary, tax-deductible cash flow solution that frees up capital and gives them the money they need to grow. This diversified cash flow solutions is known as "asset leasing. Ten Equipment Leasing Tips - Save a Bundle on Your Next Lease According to the Equipment Leasing Association ("ELA"), U.S. Lease or Buy? That is Always the Question with Car Financing Leasing is a perfectly viable and legitimate way to finance a new car. Although leasing offers attractive benefits, it is somewhat more complex than buying with a loan. 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. The Leverage of the Lease In today's rapidly changing business environment it makes sense to consider all the options before paying for your business equipment - whether it's a photocopier, computer system, computer hardware or software, telephone system, security equipment, office furniture or anything else. Many business people will give great consideration to the actual purchase, getting quotes from different suppliers and considering different choices. Basic Things You Should Know About A Lease Purchase Contract What exactly is a contract?By definition, a contract is an agreement between two or more parties to do, or to refrain from doing, a particular thing in exchange for something valuable. The parties can be individuals, businesses, organizations and government agencies. 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. Dodging Leasings Grim Reaper: Navigating a Payment Default In her third Harry Potter novel, ?The Prisoner of Azkaban?, J.K. Insiders Guide to Snaring the Best Lease Deal Every year, thousands of business owners and financial managers are faced with the task of obtaining attractive financing for equipment their firms want to acquire. Snaring the best leasing arrangement requires only a bit of planning and a smidgeon of finesse. 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. Increase Your Business Growth and Cash Flow Through Equipment Leasing "If it can be manufactured, it can be leased." For the past decade or so, this statement has become more and more true to fact.
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