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Archive for June, 2010

Got a New Tenant

June 20th, 2010 at 07:28 am

Our old tenant moved out June 6 and on June 16 we signed a lease and received the deposit for a new tenant. I'm very thankful! I didn't like paying utilities and bills for two homes.

Here is a landlord tip. Sign a "landlord agreement" with utility companies. That way, when tenants move out the company will waive the connect fees for utilities. While the property is vacated, they keep the utilities on under the landlord's name without charging a fee.

Do you have any tips for landlords to help cut down on cost?

Preparing House for New Renter

June 7th, 2010 at 05:43 am

Our tenant just moved back to Maryland after renting one year. Great tenant! Always paid early and let us know if something was wrong. Now Iím preparing the house for a new renter. Have to get the house professionally cleaned, yard done, and do some minor repairs. Of course Iíll take if out of her deposit.

I wish we could sell the house, but the economy still sucks. Sometimes I think about keeping the house forever. Having a rental property is great residual income, and it would be ideal to have in retirement. However, if we could just get a long-term 20-year renter, that would be absolutely wonderful. Oh well, such-is-life in the world of being a landlord.

Are you a landlord? How is it working for you?