Multi-unit investors are the bread and butter clients of experienced and successful real estate agents. 1031 exchanges are one of the many options for landlords-to-be. After the closing or escrow though is when the real work begins and offering ways to smooth the operational transition for new or repeat owners of rental properties, can be a great source of future referrals for real estate agents. A new book released in 2006 should be a required closing gift from the selling agent to the buyer of any multi-unit building or complex, with two or a thousand units.
Every Landlords Guide to Finding Great Tenants by Attorney Janet Portman, Nolo, 2006, ISBN 1-4133-0413-3, Paperback, 455 Pages is designed in an reader friendly format, full of icons, shaded call-out boxes, sample forms, and checklists. Easy-to-read tables outline state-specific laws on returning security deposits and showing notices, to name a few. From apartment marketing programs, how to show a rental, fielding and screening calls, and checking references, no step in the process is left out and all procedures are drilled down to the bottom line.
Ms. Portman brings an experts perspective on the law, but don’t think that this is a dry read. Engaging text sprinkled with bullet points, graphics, and clever caution points, make this the best desk reference for any landlord. Perfect for the experienced but exasperated landlord to the freshly minted, this is a must-have rental resource.
Every Landlords Guide to Finding Great Tenants comes with a handy CD-ROM, for on-the-go landlords. The CD has files of all forms featured and discussed in the book, as well as sample landlord-tenant conversations. Nothing has been left out of this complete guide and the format makes it simple to focus on a particular theme, and revisit others on a when-the-time-comes basis.
Chapter titles include; Choosing Good Tenants Makes Good Business Sense, Complying with Discrimination Laws, How to Deal with Current Tenants-Before You Look for New Ones, How to Advertise Effectively, How You Should Show Your Rental, Preparing Your Rental Application and Screening Materials, Fielding Initial Questions and Phone Screening, Prepare Your Rental for an Open House or Showing, Face to Face: Showing the Rental and Negotiating with Prospective Tenants, evaluating Rental Applications, Checking Applicant’s Credit Reports, Checking Landlord, Employer, and Personal References, Checking Applicants’ Criminal Backgrounds, How to Choose and Work With a Tenant Screening Agency, Choosing Your New Tenant, and How to Reject-What to Say, What to Write.
This book is a solid ten and highly recommended to building owners, 1031 Exchange Qualifying Intermediaries, real estate editors and educators, leasing and rental managers, real estate agents and brokers.