LANDLORD OF THE MONTH
Property Type: Apartments
I started in the property field in Frankfurt Germany as a
sales representative to military personnel and the public sector. When the company went out of business I decided to stay in the field and went to work in the storage industry where I worked up to the asst. general manger and trainer position. A few years of that I decided to go in the apartment rental industry where I am currently and it is a great experience.
Philosophy of the Working Landlord
My philosophy of a working landlord is that all landlords should ask several questions besides the ones on the application you give the prospective tenant, for eg. are there going to be any other adults in apt with you or any children, will you be living there full time or seasonal.
How I Do It
I spend time to get to know my tenants wants and needs they may have in the current times and try to figure out what they might need in the future.
When doing this with the lease I spend a great deal of time going over each paragraph and asking them several questions to them to instill in their minds what they are signing so it will prevent any problems in the future.
Tips on the Landlord / Tenant Relationship
As being on the management staff I recommend that all landlords try to look at their tenant's reactions and how they are with other tenants in the neighborhood.
As far as relations with tenants I try to go out of my way for eg. If I know they are going to have a hard time paying in a given week I give them agency numbers who may give them money for their needs for eg social security dept, church organizations, social services. Since my tenants are low income and pay weekly rent.
Managing The Rentals...
Try to make all tenants feel the way you would like to be treated. Help them with the repairs they request. Keep the property maintained in an orderly manner. Most of all, run your property like it is your own residence.
Legal Tips and Words of Wisdom:
I try to write the names of any tenants I feel may be a problem in the future. I also make sure all work orders are stamped and done in a quick manner for the tenants and protecting the company I work for from being sued in court for not completing it.
The LPA would like to thank Ed for his valuable input and sharing of knowledge with us. Landlords everywhere have the opportunity to benefit from the lessons and knowledge brought to us by our Landlords of the Month.