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Tables of Contents for Secrets of a Millionaire Landlord
Chapter/Section Title
Page #
Page Count
Introduction: The Landlord's Journey Begins
xi
Why Landlording?
1
8
The Upside
1
1
The Downside
2
1
Policies and Procedures
3
2
Buying and Holding Real Estate
5
1
Vacancy/Repair Rate
6
3
Types of Properties
9
10
Single-Room Occupancies
9
1
Trailer Parks
10
1
Low-End Houses and Duplexes
11
2
Apartment Buildings
13
1
Town Houses and Condos
14
1
Single-Family Homes and Duplexes
14
1
Commercial Property
15
1
Luxury Houses
16
1
Other Options
16
1
Best Recommendation--Low-End Houses and Duplexes
17
2
Getting Started as a Landlord
19
10
Ready to Rent
19
1
Attracting Your First Tenants
20
1
Target Your Market
20
1
The Advertising Supersystem
21
1
Creating Your Voice-Mail Message
22
2
Setting the Rent
24
1
Higher Rates Attract Better Tenants
25
1
Special Rent Programs
25
1
Application Fees
26
3
Handling Maintenance Requests
29
10
Repair Policies
29
5
Six Steps for Handling Repair Requests
34
1
Policies for Dealing with Contractors
34
5
Finding Good Tenants
39
14
Breaking My Own Rules
39
2
Screening Questions
41
3
Credit Check
44
1
Criminal-Background Check
45
1
Verifying Income
46
2
Verifying Employment
48
1
Screening Summary
48
1
Minimum Requirements
48
1
Fair Housing Laws
49
1
Credit-Denial Letters
50
1
Occupancy Limits
51
2
Moving Tenants In
53
10
A Move-In Inspection
53
2
Inspecting Your Properties
55
1
Making Tenants Your Friends
56
1
Rules and Regulations
57
1
Four Absolutes for Your Lease
58
2
Never Accept Cash
60
1
First One to Pay Gets the Place
61
1
Move-In Summary
62
1
Collecting All of the Rent, All of the Time
63
10
Rent Discounts
63
2
Keeping Rent Rolls
65
1
Tracking Systems
65
1
Weekly Rent Payments
66
2
Group Rentals
68
1
``I'm Just the Manager''
69
1
Broken Leases
69
1
Alternatives for Nonpayment
70
3
Taking the Headaches Out of Maintenance
73
10
The Appliance Business
73
1
The Repair Business
74
1
No-Fault Maintenance
75
1
Deductibles
76
1
Damage
77
1
Preventive Measures
78
1
Criminal Activities
79
1
Emergencies
80
1
Maintenance Summary
81
2
Keeping Good Tenants
83
12
The Cost of Vacancies
83
2
Referral Fees
85
1
Tenants Who Maintain Their Own Places
85
1
When They Want to Move Out
86
2
Increasing the Rent
88
1
Negotiating Increases
89
1
Sending Out a New Lease
90
2
The Cost of Moving
92
3
Evictions, and How to Avoid Them
95
10
The Eviction Process
96
2
Collect What Is Owed
98
1
Avoiding Eviction
98
1
What to Do When a Tenant Just Leaves
99
1
Attaching Possessions
100
1
Other Ways to ``Clean House''
101
1
Suing for Possession
102
1
Value of Emergency Numbers
102
1
Document Everything
103
2
Letting the Tenant Rent-to-Own
105
10
Option Money versus the Security Deposit
106
2
Lease-Options---The Best Choice Available
108
1
Rental Rates on an Option
109
1
The Pride of Ownership
109
1
Handyman Specials
110
1
Other Factors to Consider
111
1
Get Investors Started with Lease-Options
112
1
Lending a Helping Hand
113
1
Lease-Option Summary
113
2
Protecting Your Interests with Insurance
115
10
Management Insurance
117
1
Umbrella Policy
117
1
Workers' Compensation Insurance
117
2
Other Insurance Issues
119
1
Need for Legal Insurance
120
1
Your Own Will
121
1
Pre-Paid Legal Services
121
2
Legal Insurance Summary
123
2
Appendix A: Property Acquisition and Financing
125
6
Appendix B: Quick Landlording Forms
131
36
Appendix C: Sample Lease and Addenda
167
24
Appendix D: Rental Application and Office Forms
191
6
Index
197