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

From http://FreeREIforms.com and http://REItips.com - this is a quick-n-dirty walk through of one of the best forms I have in my new lease packet. It's actually an attachment to every lease I ever have a tenant sign, and serves to make SURE we have a meeting of the minds regarding some of the most important issues between us.

Get the form for free at http://FreeREIforms.com

Enjoy!

Category:

Education

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• real
• estate
• investing
• tips
• investment
• lease
• tenants
• addendum
• property
• management
• leasing
• rei
• reitips
• free
• forms

[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

[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!!

[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.