Crazy Awesome Landlord Form: "The Way Things Work" for Real Estate Investors

[alpinestarchik]

Yes, laying down clear expectations from the beginning is the best way to keep a good landlord/tenant relationship

[monsterp1970]

Nice idea, but pretty out dated to ask people to 'bring' the rent to you. Are you expecting cash or cheques maybe? This should be a simple Direct Debit set up which is fixed for each day every month, then no dispute and no late payments...

[WONDOCTORJ]

i put all that stuff in the actual lease, it saves having several papers.

[cgabhart]

I don't know about other states but it is illegal in California. It's a good idea if it weren't illegal. Just put there rent at the price you want it if they pay on time and add a late penalty the next day.

[GypsyKing7]

Great Info! Thank You

[rebelbroker]

This is a great technique! I think the very first time I ever came across this was in the Carlton Sheets course I listened too way back in like 1990. It's a great tool!

[priddle34]

Thanks for continuing to put out excellent REI resources and info jp!

Love the video intro too ... nice touch.

~ Patrick Riddle

[ybernard97]

Great Idea! Love It!

[Deviant6969]

I have been giving a early discount on my homes and it works great. I also include that they cannot call me for anything under $50 in repair cost during that month, That money is to be used for those minor repairs, gas for your mower, etc.

[bwingy]

I have a dumb question it says rent can be dropped off in person then the next line says we do not accept payments in person.Can you explain that some or am I missing something with that.Great videos by the way!

[tmomof6]

I do not think that is a dumb question. "If you do not mail it in time, bring it in person, we do not accept rent in person, there WILL BE A $X late fee for rent not received on time" Sounds like you are just trying to milk them. This is definitely a catch 22, but is the reason for this to have a reason to evict should things get ugly or does it just scare them into paying rent on time? I would love to have this addendum on the house I am renting now! My landlord always comes to collect early!!