The Book on Managing Rental Properties: A Proven System for Finding, Screening, and Managing Tenants with Fewer Headaches and Maximum Profits
|The Book on Managing Rental Properties: A Proven System for Finding, Screening, and Managing Tenants with Fewer Headaches and Maximum Profits|
|Author(s)||Brandon Turner, Heather Turner, Allison Leung (editor)|
Back Cover Text
The Book on Managing Rental Properties: A Proven System for Finding, Screening, and Managing Tenants with Fewer Headaches and Maximum Profits by Brandon Turner, Heather Turner No matter how great you are at finding good rental property deals, you could lose everything if you don’t manage your properties correctly! But being a landlord doesn’t have to mean middle-of-the-night phone calls, costly evictions, or daily frustrations with ungrateful tenants. Being a landlord can actually be fun IF you do it right. That’s why Brandon and Heather Turner put together this comprehensive book that will change the way you think of being a landlord forever. Written with both new and experienced landlords in mind, The Book on Managing Rental Properties takes you on an insider tour of the Turners’ management business, so you can discover exactly how they’ve been able to maximize their profit, minimize their stress, and have a blast doing it!
Inside, you’ll discover: • The subtle mindset shift that will increase your chance at success 100x! • Low-cost strategies for attracting the best tenants who won’t rip you off. • 7 tenant types we’ll NEVER rent to—and that you shouldn’t either! • 19 provisions that your rental lease should have to protect YOU. • Practical tips on training your tenant to pay on time and stay long term. • How to take the pain and stress out of your bookkeeping and taxes. • And much more!
"I wish I had this book before I made all of my expensive property management mistakes! In this book Brandon and Heather Turner have covered the biggest challenges for landlords and solved each one with nifty, step-by-step systems. I literally gave the information in Chapter 6 on tenant prescreening to my own team and said 'use this!' It's that good.”
—Chad Carson, coachcarson.com
From the Publisher
2017-02-17 A manual delivers advice on managing rental properties. After writing a guide to purchasing rentals, Brandon Turner (The Book on Rental Property Investing, 2016) returns with his wife as co-author to counsel new investors on effectively running their properties. "What exactly are we talking about here? What IS landlording?" the couple ask before answering with a common theme throughout their how-to book: "Landlording IS a business." The main point behind each chapter examining common tasks is that "the differences between a business and hobby is having systems and processes for everything you do." The many processes they delineate for landlords establish mostly safeguards against tricky legal situations: "You don't want to find your mug on the front page of the Sunday paper for discrimination that you didn't even know you were doing. Ignorance is no excuse for discrimination." In particular, their lengthy dissection of fair housing practices draws specific and important distinctions taken straight from personal experiences, like the difference between refusing to build a tenant a ramp and denying a tenant the option to construct the ramp. They even venture into marketing, explaining how various laws can play a major role in advertising an apartment to rent and attracting the best tenants possible. Over the course of the volume, numerous lists like "6 Ways to Keep Yourself Free From Lawsuits" and a guide to evicting a tenant sometimes rehash material or present seemingly obvious details, such as getting copies of a lease to all parties. But the thorough nature of this step-by-step format ensures that new landlords can be confident they have everything covered, even down to knowing the proper equipment and lighting tips for producing the best ad photos. The authors also include case studies of fractious tenants and evictions from their own experiences, reassuring new landlords that there is a way to solve even the most difficult situations. This helpful guide for new landlords examines the management process in-depth, providing a personal touch and firsthand insights.
About the Author
Brandon and Heather Turner are a husband & wife team residing in Montesano, Washington with their daughter, two Yorkie dogs and two cats. Together they own Open Door Properties LLC, an investment company focused on “value-add” real estate opportunities and self-managing their investments. Brandon focuses primarily on the acquisition, while Heather focuses primarily on the management. Brandon is also the co-host of the weekly BiggerPockets Podcast, the most popular real estate podcast in the world.
For more information about The Turners, check out www.BrandonTurner.me or OpenDoorPropertiesLLC.com.
Table of Contents
- Chapter 1 - So You Want to Be a Landlord? 1
- Chapter 2 - 8 Business Attributes of a Successful Landlord 13
- Chapter 3 - Initial Steps 29
- Chapter 4 - Fair Housing 47
- Chapter 5 - Advertising Your Vacancy 61
- Chapter 6 - Tenant Pre-Screening 73
- Chapter 7 - The Application Process & Tenant Screening 109
- Chapter 8 - Signing the Rental Contract 145
- Chapter 9 - Managing Tenants 165
- Chapter 10 - Dealing With Problems 189
- Chapter 11 - Getting Rid of Bad Tenants 215
- Chapter 12 - Dealing With Contractors 229
- Chapter 13 - What To Do When Your Tenant Moves Out 241
- Chapter 14 - Business Organization and Bookkeeping 267
- Chapter 15 - 13 Principles for Being an Incredible Landlord 281
- Appendix 289
Books by the Same Publisher
- The Book on Tax Strategies for the Savvy Real Estate Investor: Powerful techniques anyone can use to deduct more, invest smarter, and pay far less to the IRS
- The Book on Rental Property Investing: How to Create Wealth and Passive Income Through Intelligent Buy & Hold Real Estate Investing!
- The Book on Investing In Real Estate with No (and Low) Money Down: Real Life Strategies for Investing in Real Estate Using Other People's Money
The Book on Managing Rental Properties: A Proven System for Finding, Screening, and Managing Tenants with Fewer Headaches and Maximum Profits, Brandon Turner, 2015, Bigger Pockets Publishing, ISBN 9780990711759