LANDLORD PROFILE INTERVIEW:
Name:
Jess Bailey
City:
Kansas City Metro Area
State:
KS & MO
Any Unique 'Local' Landlord Requirements?
We have different requirements depeding on which side of the state line the unit is on.
Number of Rentals?
100+
Years of Landlording Experience?
7 months
Hardest Job?
Working with the contractors to get things fixed on time and at a reasonable price.
Your Biggest Mistake?
So far, not double checking that all of our houses have up to date rental licenses before beginning advertising for a recently vacated property.
New Landlord Advice?
Double check everything and don't go off of what someone thinks they remember. Stick to the facts. Verbal agreements with the previous landlord need to be proved with written documentation.
Favorite Type of Resident?
Young newly weds and upper level college or graduate students because they typically can't afford to break or destroy anything, will usually find a way to pay on time and most of the time don't have pets.
Best Way to Find/Attract Residents?
Craigslist and Rentals.com
Favorite Application Question?
If you are not married and applying with a co-applicant who you are dating, how long have you been in a serious, committed, monogamous relationship? How long have you lived together?
One Way to Keep Good Residents?
Listen and try to offer a solution to their problem(s). For example, if
they lose their job and have a good payment history, we offer a rental
assistance program where they extend their lease from that time for twelve
months and during the first three months pay $100 less to help them get back up
on their feet.
Favorite Rental Clause?
Resident agrees they accept the unit as is.
Money Making Cash Flow Tip?
Offering rental washers and dryers.
Money Saving Maintenance Tip?
Trying to walk the resident through the procedure to fix small issues over the phone and our lease requires a $50 maintenance charge no matter what type of issue it is. It cuts down on silly requests and encourages residents to find ways to fix their own small issues like leaky faucets.
How Do You Encourage On-Time Rents?
We offer an "Early Bird Special." We have a drawing every month for residents who pay before the 1st for a $100 AMEX gift card or $100 off of next month's rent.
How Have You Collected Past Due Rent?
We use a very efficient collection company.
Trick A Tenant Played On You?
During a city inspection she told the inspector that we were refusing to fix a
maintenance issue when in fact we had just been to her house to fix the issue
two hours before and could not finish because we were had to order a special
part which caused us to almost loose our rental license for all the houses in
that county (35 houses).
Favorite Real Estate Book?
What's Rewarding About Being A Landlord?
Providing safe quality housing to families and to women coming out of abusive relationships.
How Has MRLANDLORD.COM helped you?
The Q&A section has provided some helpful tips and also comfort that I'm not the only one with an issue in one area or another.
Note from mrlandlord.com: We invite rental owners from across the country to be featured on our website. If you would like to be considered as one of those featured landlords profiled on our website, please CLICK HERE to fill out a landlord interview on-line. Click to see formerly featured profiles.
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