Are you a “REAL” Landlord?

from the St Louis Real Estate Investors Association

Many people who own rental property “think” they are landlords! But many investors are not really “REAL” landlords. True land lording takes uncanny skill, wisdom and talent. Put a check mark by each of the following that you have experienced.

You might be a landlord if…

____ 1. You know the difference between Black mold and mildew and can prove it in court.

____ 2. You can write up and post a Pay or Quit Notice from scratch, on site and post it.

____ 3. You have pushed that old junker out into the street (or “noticed” a flat tire) so the city will tow it away.

____ 4. You told the Dish Cable installer “If you put one more dish on “My” roof, you have to take the others down.”

____ 5. You did an inspection to find the tenant gone, light bulbs gone, toilet seat gone, carpet gone, stove, fridge, washer, dryer, water heater, gone, gone, gone.

A REAL LANDLORD will be familiar with at least four of the above.

My tip of the month: Always give a receipt when collecting rent or deposits and have the receipt in duplicate so that you retain a copy. If there is ever a dispute with you and the renter you will have your copy to show. The renters memory of what was paid will favor him every time. The copy of receipts will also come in handy if it is necessary to show proof in court. Leroy Petersen

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