Tips for Landlords

Tips for Landlords

Common Leasing Tips

  • MOST IMPORTANT: Use a local Market Expert to be educated and update on the Market. This way YOU will know when “The Deal” presents itself and you don’t have to hope the Agent’s opinion has your best interests in mind. Trust Us, your relative, who has a real estate license is not going to save you money BUT they will cost you Time!
  • Does your building have a webpage? With us it will! We use the latest technology to market and prospect for the right tenant.
  • Negotiate “Agreeable Terms” while protecting ownership interests. Remember, every month your asset sits vacant, it is costing you money.
  • Proper pricing, not too high or low, for the least amount of time your building is NOT occupied.
  • Ensure proper due diligence for every prospective tenant.
  • Obtain all relevant property information to ensure the right tenant is selecting; Zoning, Fire Codes, Power, Clear Height. Basically protect the Landlord from a Tenant Rep agent who’s just trying to “squeeze” any tenant into your building to make a Commission!

Common Landlord Mistakes

  • Not leaving enough time to market the property.
  • Not maintaining service contractors. This is often the tenant’s responsibility but it often gets overlooked until it is too late. We recommend doing the maintenance and billing the tenant.
  • Relying on the handshake. Let’s face it, we all long for the day when a person’s word meant something but not everything is a “Man of their word”. Get it in writing.
  • Not properly documenting the Move-In condition of the building. Remember, the tenant must return the building to its move in condition, subject to normal wear and tear. Normal wear and tear can be awfully subjective after five (5) years of occupancy.

Tired of Being a Landlord? Thinking of Selling?

Call us for a free consultation on the costs of selling, marketing time, and recommended upgrades needed for the current market condition.

Call or email Joel or Phil

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