Every real estate investor who deals with rental homes has done their own cleaning and repair, at least in the first few years. Landlords also become very adept at managing tenants after being burned several times.
Learn the tricks of the trade and how to get the best results at the lowest cost. Perhaps some of these tips are new to you.
You can breathe new life into kitchen cabinets with a generous application of Liquid Gold.
Everyone has at least one chip or scratch on the porcelain of their refrigerator, bathtub, stove (except high-temperature surfaces), sink, washer, or dryer. The solution? Touch up that notch with a strong porcelain enamel called “Porcelain Chip Repair.” Just apply it with the built-in brush and it will set in 24 hours. If your hardware store doesn’t have it, you can find it with a Google search.
You can quickly clean the black scuff marks from the vinyl floor with a squirt of WD 40 lubricant and rub with a clean cloth.
Put a shiny new strainer in the sink drain. Then install new handles and drawer pulls and you will often have a little miracle in the kitchen.
Get rid of sticky adhesive residue with Goo Gone.
When tenants move in, they rarely do a good job cleaning the oven … or the dishwasher.
I’m sure you’ve discovered the many effective oven cleaners, but how about that grime clinging to the inside of your dishwasher?
Try a product called “Dishwasher Magic” … found in many markets and some hardware stores.
The label says “Removes limescale, rust and buildup. Disinfectant.”
Just remove the cap … place the blue plastic bottle upside down inside the cutlery basket and turn on the machine. You may have to use two bottles if your first glance at the washing machine causes you to run out of the house screaming.
When the vinyl flooring is ready to be replaced, use commercial grade tile. It lasts almost forever and it is cheap to replace a damaged tile from time to time.
Have you ever received an unsigned rent check? This is a method that often allows you to deposit that check.
Write or write the word “above” on the line where the signature would normally appear. Write “no signature guaranteed” on the back of the check. Add your company name and your name and title. Then you sign it on the back.
This guarantees your bank that the check will be recovered as a charge against your account if it is not accepted. Many banks will then process the check and remit the funds. This saves you the hassle of returning the check to your renter for signature.
Spot those bad checks with these tips. 90% of bad checks are numbered 101-150, indicating a new account.
Legitimate checks have at least one perforated edge. Most of the fakes are cutouts of fakes created by photocopiers.
Checks dated more than six months ago generally cannot be cashed, no matter how much money the issuer has in their account.
If the amounts written on a check in words are different from the amounts written in numbers, the bank will pay the amount indicated in words.
If you receive a check without a date, it is legal to enter a date reasonably close to the date it was received. Advancing or post-dating the check by several weeks is a criminal act … don’t do it.
Remember, the landlord is not for sissies. Hope these tips save you a few bucks and a keg full of hassle.