Every Landlord's Guide to Managing Property Quotes

“Also, note there is no time limit on the IRS screening you for a fraudulent return or taking action because you failed to file a return.”
― Michael Boyer, Every Landlord's Guide to Managing Property: Best Practices, From Move-In to Move-Out

“later!) Seven years is a safe time frame for most tax situations”
― Michael Boyer, Every Landlord's Guide to Managing Property: Best Practices, From Move-In to Move-Out

“Aim for Full Replacement Cost While policies and terms vary, get the closest you can to 100% replacement value for your dwelling. This way your insurance will cover any full loss of the property. Often, state court rulings will outline how insurance contracts are interpreted in each state. Talk to your broker, attorney, or another expert in the area. If you are not able to get guaranteed replacement cost, look at extended dwelling coverage options.”
― Michael Boyer, Every Landlord's Guide to Managing Property: Best Practices, From Move-In to Move-Out

“J.D. Power, which measures customer satisfaction: JDPower.com (look at the “Awards & Ratings” dropdown menu), and •​AM Best Company, which rates insurance companies on financial strength: AMBest.com.”
― Michael Boyer, Every Landlord's Guide to Managing Property: Best Practices, From Move-In to Move-Out

“Your only viable solution might be to not renew one or both of the tenants’ leases if they can’t work through the conflict.”
― Michael Boyer, Every Landlord's Guide to Managing Property: Best Practices, From Move-In to Move-Out

“If you replace carpet in an upstairs unit, get the thickest pad possible. Also, put thick area rugs on hard floor surfaces like kitchens, entries, and hallways.”
― Michael Boyer, Every Landlord's Guide to Managing Property: Best Practices, From Move-In to Move-Out

“Cats up, dogs down. Whether it is a condo or multistory fourplex, I prefer large dogs to be housed on ground floors and cats or smaller dogs upstairs. Large dogs upstairs can create an issue jumping, playing, and running, thus bothering the downstairs tenant.”
― Michael Boyer, Every Landlord's Guide to Managing Property: Best Practices, From Move-In to Move-Out

“If you are dealing with a behavior that crosses a line for you, pause.”
― Michael Boyer, Every Landlord's Guide to Managing Property: Best Practices, From Move-In to Move-Out

“have had tenants ruin ovens when cleaning them, shatter shower doors, and even break windows with odd objects. Even with this litany of dings and cracks, when I step back and look at the cost of repairing one window, replacing a few boards on a fence, or even losing a used oven, keeping the good tenant long term is usually worth it. The lifetime value of a customer, especially one writing a four-figure check like clockwork every month for several years, far outweighs the cost or inconvenience of the minor repair.”
― Michael Boyer, Every Landlord's Guide to Managing Property: Best Practices, From Move-In to Move-Out

“tenant mentions a shrub needs to be trimmed, so you say you will get to it when you come by next time. When you stop by a few days later, you notice that the shrub is not really overgrown. Trim it anyway. You have said you would, and the larger issue is not the shrub, but the trust. If you leave it undone, it will serve as a daily reminder of something you said you’d do but didn’t.”
― Michael Boyer, Every Landlord's Guide to Managing Property: Best Practices, From Move-In to Move-Out

“Some of these exempt certain landlords, such as those that own fewer than three properties.”
― Michael Boyer, Every Landlord's Guide to Managing Property: Best Practices, From Move-In to Move-Out

“For example, consider a 14-day occupancy limit on any guest not on the lease.”
― Michael Boyer, Every Landlord's Guide to Managing Property: Best Practices, From Move-In to Move-Out

“The two-person-per-bedroom standard mentioned in”
― Michael Boyer, Every Landlord's Guide to Managing Property: Best Practices, From Move-In to Move-Out

“Make sure you time and structure your offer so as to never offer the same unit to two people.”
― Michael Boyer, Every Landlord's Guide to Managing Property: Best Practices, From Move-In to Move-Out

“Be on the alert for tenants who do not list their current landlord or ask that you not contact the current landlord.”
― Michael Boyer, Every Landlord's Guide to Managing Property: Best Practices, From Move-In to Move-Out

“Addiction status is protected under federal fair housing law.”
― Michael Boyer, Every Landlord's Guide to Managing Property: Best Practices, From Move-In to Move-Out

“Develop an emergency script to end a showing before it even starts. If someone appears intoxicated, unstable, or threatening, have a quick explanation of why you can’t go inside the unit together. Stay in your car or a publicly visible area and tell them the exterminator got mixed up and just visited so there are toxic fumes for 24 hours.”
― Michael Boyer, Every Landlord's Guide to Managing Property: Best Practices, From Move-In to Move-Out

“Take photos at move-in time. Whether or not you post photos with your ad, you should take some photos of all the rooms just before you begin showing the unit, to record its “before” condition. You could use these to show prospects who ask for photos, or keep them should your tenants dispute your evaluation of the condition of the unit at move out.”
― Michael Boyer, Every Landlord's Guide to Managing Property: Best Practices, From Move-In to Move-Out

“Be clear about what the rent includes.”
― Michael Boyer, Every Landlord's Guide to Managing Property: Best Practices, From Move-In to Move-Out

“Renters shop for housing primarily based on the number of bedrooms and baths.”
― Michael Boyer, Every Landlord's Guide to Managing Property: Best Practices, From Move-In to Move-Out

“Be consistent and treat all applicants equally in all phases of the tenant screening and selection process.”
― Michael Boyer, Every Landlord's Guide to Managing Property: Best Practices, From Move-In to Move-Out

“Cut down on service calls with preventive maintenance. See Chapter 5 for advice, including on how to develop a”
― Michael Boyer, Every Landlord's Guide to Managing Property: Best Practices, From Move-In to Move-Out

“I am glad you caught that. Thanks for letting me know.” (Responding with annoyance or hostility tends to discourage reporting.) Then follow up with a resolution. Reward the behavior and keep open communication.”
― Michael Boyer, Every Landlord's Guide to Managing Property: Best Practices, From Move-In to Move-Out

“Replace an old hot water heater before, not after it springs a leak.”
― Michael Boyer, Every Landlord's Guide to Managing Property: Best Practices, From Move-In to Move-Out

“Focus on buying property that should produce positive cash flow from the outset, based on your cost estimates.”
― Michael Boyer, Every Landlord's Guide to Managing Property: Best Practices, From Move-In to Move-Out

“If you find any additions that were done without a permit, consider crossing the property off your list.”
― Michael Boyer, Every Landlord's Guide to Managing Property: Best Practices, From Move-In to Move-Out

“The key is to employ one (or both) strategies; otherwise, you are offering the same thing at the same price as your competitors (and don’t have an advantage). Don’t leave it to chance: have a strategy to offer the price and unique terms or features, so the best renters call you first.”
― Michael Boyer, Every Landlord's Guide to Managing Property: Best Practices, From Move-In to Move-Out

“Second, be cheaper. Offer a comparable unit for less than the others on the market, which you may be able to do with low overhead and by reducing turnover.”
― Michael Boyer, Every Landlord's Guide to Managing Property: Best Practices, From Move-In to Move-Out

“First, be different. Offer something other rentals on the market don’t; you can differentiate, for example, by allowing a different lease term (like six months), allowing pets, or even offering better management and communication; all three are covered throughout the book.”
― Michael Boyer, Every Landlord's Guide to Managing Property: Best Practices, From Move-In to Move-Out

“Every Landlord’s Legal Guide, by Janet Portman, Marcia Stewart, and Ann O’Connell.”
― Michael Boyer, Every Landlord's Guide to Managing Property: Best Practices, From Move-In to Move-Out