In this week's episode, Nicole and CJ share their experiences as owners and managers for long term rentals.
We talk about:
- Finding good renters
- Do credit checks
- Be patient it can take many showings to find the right renters
- Use renter screening tools like cozy.co
- Be extremely clear about expectations
- Make sure to have a clause in the contract that requires a per day late fee over a set number of days. E.g. after 3 days, each day late costs $25/day
- Be clear about pet cleaning fees
- If they want an exception for an animal, try to get a good idea if they really need the pet or not. I wish we asked for some sort of proof that the animal was required otherwise we would’ve charged extra
- Set up monthly or quarterly visits from a landscaper for the exterior
- Being your own handyman
- Other ways you can invest in long term properties
What is Avilla Theory?
Strategies for hacking family life