Landlording for maximum profitability and Financial Independence
One of the things that make a rental unit ‘spark’, is a bathroom remodel. A renter does not want to get a place that is grungy with a bunch of previous tenants ‘marks’ in them. They want a sparkly bathroom, one that looks and smells clean. One that when they have guests over, the guests are not grossed out. Here is a recent bathroom remodel that I did, with tenants in place.
Continue reading “How to do a Bathroom Remodel Cheap”
One thing that will make you more productive as a landlord, is to be able to be more efficient. Manage your time wisely, and you can be a Rockstar landlord. When you get to a property, you should have the tools necessary to enable a common fix. Some simple landlord tools. If you have a few simple landlord tools, you can make a quick fix, and not have to make a special trip. Or you can prevent damage that may occur if the fix is not done.
Here are a few landlord tools that I would not be without when I drive around to my rentals. In fact, I always have them in my tool bag in my truck. They are indispensable tools that I use regularly.
Continue reading “Landlord Tools for Maintenance”
This is a real-life example of how to diagnose and repair a Maytag F20 error code on a commercial washer. Specifically, it is Maytag model number MAH22PDAWW0.
When you have rental property, you are most profitable if you can do a few maintenance tasks yourself. In this instance, the tenants texted me that the washer in the common area was not working.
Here is how I fixed the Maytag F20 Error Code.
Continue reading “How to Fix a Maytag F20 Error Code”
I am in the middle of a somewhat major remodel on a rental property. It will require a few thousand dollars to get it back in shape. The renter was not too bad, and they lived there for over six years. They had good income, always paid on time, and left with proper notice. Unfortunately, they were big-time slobs.
Although I was not able to show the unit while they were in there, as it was a bit messy, I was able to rent it for June 1st. I rented it at a price $100 more to tenants without a pet, than the previous tenants rent that included a $25 pet fee.
Here is what I am doing to the property to turn it and prepare for future rentals.
Continue reading “Remodel On A Rental Property”
This article is about how to fix a range heating element, but it is really about more than that. It is about maximizing your existing revenue stream. Making the most of what you have available to you.
When you own rental property out of state, you are at the mercy of everyone. You need someone to respond to calls, you need someone to fix minor things, you need someone to drive by the property periodically, etc. Every one of these events takes time and money. Your money. Your retirement and financial independence money.
This is a recent situation that happened to me.
Continue reading “How to Fix a Range Heating Element”
When you are a landlord, you can either hire out all the maintenance, or do some of them yourself. I do much of it myself, and it saves a TON of money. When you are in doubt about how to fix an item, odds are, there is someone out there, with a YouTube video, who has dedicated their life to helping you fox the issue.
This bit of maintenance to fix a shower faucet leak started simple enough. It was a quick text by a tenant saying her bathtub faucet was leaking. Then a phone call. When you get a text and phone call, it becomes a bit more serious…
Continue reading “How to Fix a Delta Shower Faucet Leak”
This post is compliments of Amy aka “Yetisaurus”.
Never underestimate the amount of headaches you can have with rental property appliances. When my boyfriend moved in with me about a year and a half ago, he decided to rent his place out for some extra rental income. Because we were combining households, we had no need for his washer and dryer, BBQ, or refrigerator. He figured that he’d be a nice guy and offer those items to potential renters for their use while they remained renters.
Continue reading “How to Provide Rental Property Appliances (No Good Deed Goes Unpunished)”
This article will teach you how to clean out a tub drain. When you own rental property, there will always be maintenance. You can do it yourself, or hire someone. Even in your own home, there are tasks that need to be completed, this is a great one to learn to do yourself. If you can save $100, that is a couple or three (for two people) nice restaurant meals (in my places), or $100 to your retirement.
Of course some tasks are not fun, some are messy, and some of them are just gross. Even the tasks you think are real bad ones; there is someone out there that does them all day, every day. Do not feel sorry for yourself.
When I turn a rental over, cleaning a tub drain is a very common task. It’s not fun, but not difficult.
Continue reading “How to clean out a tub drain”
With any issue, if you can do some simple appliance repairs as a landlord, you can save a ton of money. In my rentals, I find that some appliances are worth fixing, some are not. Here are a couple of recent simple appliance repairs that I have completed.
I typically buy fairly cheap appliances. I always buy new, and make sure that they are 100% clean for all new tenants. Of course, I also expect the tenants that are moving out to keep them clean.
Continue reading “Simple Appliance Repairs for Landlords (or Homeowners)”
As a landlord, especially if you cater to a low-income tenant base, you will no doubt have to get rid of many stuffed chairs, love seats, hide-a-beds, futons, mattresses, box springs and couches. And more. If you know how to get rid of a couch for free, it will save you a lot of money.
This posting is somewhat of a companion article to one of my previous articles about how to get rid of a mattress for free. This couch was left over from when I asked my Section 8 tenant to leave.
Continue reading “How to Get Rid Of a Couch For Free”
