Residential Income Property
1983 - ACRE w/Al Lowry & RAND Robert Allen
Mr. Landlord;-) Not in Massachusetts:-(! ;-)
1.What are Residential Income Properties?
SF, MF, CC
Zoning & Rules restrictions.
Shane;-)
2.Types?
Sort Term, Medium & Long Term.
How Much$ (how to check the competition).
Where to go? Market - High, Medium or Low?
3.Where?
YOUR Farm area!
4.Subsidized vs Paying Tenants.
During the Kung Flu panic… Housing Court 90 Days?
5.Guides and Codes.
State Sanitary Code, Tenants Guide to a Legal Tactics, Landlords Guide.
GO TO HOUSING COURT!!!
Rules? What Rules? I don’t need no stinking Rules!
6.Advertising.
Where: Online, Newspapers:-0, Word of mouth?
Careful what you Offer!!
7.Selecting Tenants.
Application form & Vetting techniques & Credit Set your Guidelines and stick to them!!
Government picture ID
Condition of the Property for showing?
Showing a Property? Group vs Individual showings,
8.Establishing a Tenancy in Massachusetts. (Documents)
Annual Lease vs Tenant at Will
ALSE & Blue (Lease modifications? NO!)
Security Deposits ($Max?)
9.Maintaining the Tenant/Landlord relationship.
Introduce yourself.
Availability, Expectations: Trash, Utility usage, Plumbing.
Put it in writing.
Smokes?
10.Ending a Tenancy.
30 Day notice? Go there immediately. Then with Contractors: Painters, Carpenters.
Put it in writing.
JunkYard Dog $2k
Improvements?
12.Why Landlords Fail?
Distance, Recession, Thin Margins, Allowing Tenants to Take Over.
Tenants vs Landlords? No! Landlords WORKING with Tenants.
11.Where to get help? Right here! Mike@MassRealEstate.net
WID - WH - WIWIHD