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Essential Tips to Being for Successful Landlord - Landlordology - Lucas Hall

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Cozy

YOU'LL LEARN: 1) Essential Tips for Every Step in the Landlord Lifecycle 2) The Most Important Laws that Every Landlord Should Follow; 3) Top List of Guides and Resources for Landlords; CONTENTS: 1. Tips for Listings / Showings 2. Tips for Applications 3. Tips for Screening Tenants 4. Tips for Deposits 5. Tips for Leases 6. Tips for Move-in 7. Tips for Collecting Rent 8. Tips for Repairs and Maintenance 9. Tips for Renewals / Move-out 10. Rental Laws 11. Best Practices 12. Best Resources 13. About Cozy SUPPORTING LINKS: Cozy - Free Software for Landlords: https://cozy.co Landlordology: http://www.landlordology.com

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ESSENTIAL TIPS BY LUCAS HALL FOR BEING A SUCCESSFUL LANDLORD
AGENDA 1. Tips for the Landlord Lifecycle 2. Important Rental Laws 3. Useful Guides & Resources
SPEAKER Lucas Hall Landlord, ~10 yrs Founder, Landlordology Chief Landlordologist and Community Manager @CozyCo Not a Lawyer :) 4 Properties / ~17 Tenants
Essential Tips to Being for Successful Landlord - Landlordology - Lucas Hall
LISTINGS / SHOWINGS 1. Craigslist & Postlets are still #1 2. Pictures Ohhh, Pretty! 3. Host a Landlords Open House
APPLICATIONS 1. Use online applications 2. SSN#, not required 3. Collect applications from all adult occupants
SCREENING TENANTS 1. Able and willing to pay rent? 2. Ask landlords; would you rent to them again? 3. Race, Color, Religion, Sex, National Origin, Familial Status, Disability 4. Sex Offender is not a protected class; www.nsopw.gov
DEPOSITS 1. Collect a deposit before or at lease signings 2. Useful as compensation for damages; material or financial 3. Dont commingle funds
LEASES 1. Use a rock-solid lease, stick to it 2. Every adult occupant signs the lease with joint & several liability 3. Review entire lease w/ applicants & use e-signature tools: HelloSign, SignNow, DocuSign
MOVE-IN 1. Specify move-in/move-out times 2. Keys; no earlier than Day 1 of lease 3. Allow tenant to document condition and perform inspection 4. $10 welcome gift w/ Day 1 essential items
COLLECTING RENT 1. Mandate online & automatic payments 2. Charge hefty late fees 3. Set up an operating bank account 4. Dont collect last months rent
REPAIRS 1. Acknowledge requests within hours 2. Call anytime; be available via SMS 3. Give proper notice every time 4. Use a lockbox for trusted contractors
RENEWAL / MOVE-OUT 1. Require 60 day notice of non-renewal on fixed-term leases 2. Dont always raise the rent 3. Host showings 4-6 weeks out 4. Provide a instructions / cleaning list
RENTAL LAWS
RENTAL LAWS 1. Federal Laws (sort of): The Uniform Residential Landlord Tenant Act (URLTA) of 1972 2. Return Deposit: 15-60 days move-out and/or lease termination; w/ itemized receipts and separate account. 3. Wrongful Withholding: 1-3x amount 4. Non-Refundable Fees: Allowed in AZ, NV, WV, FL, UT, WY, GA, WA
RENTAL LAWS 5. Rent Grace Period: 0-15 days 6. Late Fees: limit by % or day. I recommend one time fee + small daily fee. 7. Notice to Enter: Usually 24+ Hours 8. Discrimination: Race, Color, Religion, Sex, Familial status, Origin, or Disability. Sometimes; Marital Status, Sexual Orientation, Source of Income or Age
RENTAL LAWS 8. Non-Payment: 0-10 days to remedy or quit 9. Lease Violation: 0-30 days to remedy or quit 10.Unconditional Quit Notices: AR, ND, WV, LA, OH, WY, MO, SD
BEST PRACTICES 1. Heating: At least 68 degrees 2. Bedrooms: Need two exits 3. Smoke Detectors: In each bdrm, CO detectors within 15 ft of bdrm 4. Nuisance: Trash, Noise, Weeds 5. Check In: Once a month
RESOURCES
STATE LAWS landlordology.com/state-laws State Summaries State-specific guides to landlord-tenant laws The URLTA of 1972 uniformlaws.org
Essential Tips to Being for Successful Landlord - Landlordology - Lucas Hall
GUIDES landlordology.com/guides The Landlord Guides The Definitive How-To Guides for Independent Landlords
DIRECTORY landlordology.com/directory Services Directory Our list of the best online and offline tools for Independent Landlord
LANDLORD: STEP BY STEP landlordology.com/lifecycle The Landlord Lifecycle A comprehensive checklist of phases when renting a property
GUIDES & RESOURCES landlordology.com/ask-lucas Ask Lucas A Q&A Podcast about Landlording. Ask a Question, Get an Answer.
(ITS FREE)
ONLINE RENT COLLECTION (FREE!)
TENANT SCREENING (Also, FREE)
CREDIT CHECKS (Yep, this too FREE)
! www.cozy.co ! 息 2012-2014 Cozy Services Ltd. All rights reserved.
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Essential Tips to Being for Successful Landlord - Landlordology - Lucas Hall

  • 1. ESSENTIAL TIPS BY LUCAS HALL FOR BEING A SUCCESSFUL LANDLORD
  • 2. AGENDA 1. Tips for the Landlord Lifecycle 2. Important Rental Laws 3. Useful Guides & Resources
  • 3. SPEAKER Lucas Hall Landlord, ~10 yrs Founder, Landlordology Chief Landlordologist and Community Manager @CozyCo Not a Lawyer :) 4 Properties / ~17 Tenants
  • 5. LISTINGS / SHOWINGS 1. Craigslist & Postlets are still #1 2. Pictures Ohhh, Pretty! 3. Host a Landlords Open House
  • 6. APPLICATIONS 1. Use online applications 2. SSN#, not required 3. Collect applications from all adult occupants
  • 7. SCREENING TENANTS 1. Able and willing to pay rent? 2. Ask landlords; would you rent to them again? 3. Race, Color, Religion, Sex, National Origin, Familial Status, Disability 4. Sex Offender is not a protected class; www.nsopw.gov
  • 8. DEPOSITS 1. Collect a deposit before or at lease signings 2. Useful as compensation for damages; material or financial 3. Dont commingle funds
  • 9. LEASES 1. Use a rock-solid lease, stick to it 2. Every adult occupant signs the lease with joint & several liability 3. Review entire lease w/ applicants & use e-signature tools: HelloSign, SignNow, DocuSign
  • 10. MOVE-IN 1. Specify move-in/move-out times 2. Keys; no earlier than Day 1 of lease 3. Allow tenant to document condition and perform inspection 4. $10 welcome gift w/ Day 1 essential items
  • 11. COLLECTING RENT 1. Mandate online & automatic payments 2. Charge hefty late fees 3. Set up an operating bank account 4. Dont collect last months rent
  • 12. REPAIRS 1. Acknowledge requests within hours 2. Call anytime; be available via SMS 3. Give proper notice every time 4. Use a lockbox for trusted contractors
  • 13. RENEWAL / MOVE-OUT 1. Require 60 day notice of non-renewal on fixed-term leases 2. Dont always raise the rent 3. Host showings 4-6 weeks out 4. Provide a instructions / cleaning list
  • 15. RENTAL LAWS 1. Federal Laws (sort of): The Uniform Residential Landlord Tenant Act (URLTA) of 1972 2. Return Deposit: 15-60 days move-out and/or lease termination; w/ itemized receipts and separate account. 3. Wrongful Withholding: 1-3x amount 4. Non-Refundable Fees: Allowed in AZ, NV, WV, FL, UT, WY, GA, WA
  • 16. RENTAL LAWS 5. Rent Grace Period: 0-15 days 6. Late Fees: limit by % or day. I recommend one time fee + small daily fee. 7. Notice to Enter: Usually 24+ Hours 8. Discrimination: Race, Color, Religion, Sex, Familial status, Origin, or Disability. Sometimes; Marital Status, Sexual Orientation, Source of Income or Age
  • 17. RENTAL LAWS 8. Non-Payment: 0-10 days to remedy or quit 9. Lease Violation: 0-30 days to remedy or quit 10.Unconditional Quit Notices: AR, ND, WV, LA, OH, WY, MO, SD
  • 18. BEST PRACTICES 1. Heating: At least 68 degrees 2. Bedrooms: Need two exits 3. Smoke Detectors: In each bdrm, CO detectors within 15 ft of bdrm 4. Nuisance: Trash, Noise, Weeds 5. Check In: Once a month
  • 20. STATE LAWS landlordology.com/state-laws State Summaries State-specific guides to landlord-tenant laws The URLTA of 1972 uniformlaws.org
  • 22. GUIDES landlordology.com/guides The Landlord Guides The Definitive How-To Guides for Independent Landlords
  • 23. DIRECTORY landlordology.com/directory Services Directory Our list of the best online and offline tools for Independent Landlord
  • 24. LANDLORD: STEP BY STEP landlordology.com/lifecycle The Landlord Lifecycle A comprehensive checklist of phases when renting a property
  • 25. GUIDES & RESOURCES landlordology.com/ask-lucas Ask Lucas A Q&A Podcast about Landlording. Ask a Question, Get an Answer.
  • 29. CREDIT CHECKS (Yep, this too FREE)
  • 30. ! www.cozy.co ! 息 2012-2014 Cozy Services Ltd. All rights reserved.