YFP Real Estate Investing 39: Managing Tenant Turnover
Your Financial Pharmacist
English - January 08, 2022 10:00 - 42 minutes - 58.7 MB - ★★★★★ - 162 ratingsInvesting Business pharmacy retirement debt finance pharmacist Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
Previous Episode: YFP 237: 5 Financial Moves to Make to Crush Your 2022 Goals
Jared Wonders returns to the show to share how he manages tenant turnover as a real estate investor and busy full-time pharmacist.
Key Points From This Episode
Jared explains how a new multi-family property meant multiple new tenants and tackling the turnover all at once. Some details about these two types of properties, and communicating with the tenants. Doing an Estoppel Certificate, and knowing your market rents when inheriting tenants. What action steps Jared took when two of the three tenants gave their 30-day notices. Talking about turnover; septic, new windows, appliances, and supply chain issues. Jared chats about the repair standpoint specifically and having a flexible timetable. How previous experience will give you the confidence to tackle the next property. Some creative options to solve supply chain problems. What is LVP, how to get great pictures, and why he did only one property at a time. How and when Jared listed the properties for rent again. Hear about the time frame before the first showing and what factors affected this. Scheduling viewings outside professional hours, and why he likes individual showings. The importance of following the Fair Housing guidelines, and having clear criteria. Jared talks about his tenant application process and verifying their income. Taking care of deferred maintenance by dealing with it during tenant turnover. Jared's final words of advice on screening and how to treat the tenant like your client.Links Mentioned in Today’s Episode
Learn More About the None to One Group Coaching Program Email the YFP Real Estate Investing Podcast: [email protected] Join the YFP Real Estate Investing Facebook Group YFP Real Estate Investing 38: New Years Goals for Real Estate Investing Your Financial Pharmacist Webinars YFP Real Estate Investing 02: Long Term vs. Short Term Rental Property Investing - One Pharmacist’s Perspective YFP Real Estate Investing 28: Property Management Fundamentals: Criteria and Pets Apartments.com BiggerPockets: Leases YFP Real Estate Investing Your Financial Pharmacist Disclaimer and Disclosures