Home > Author > Brandon Turner
1 " My mission in life is not merely to survive, but to thrive; and to do so with some passion, some compassion, some humor, and some style. "
― Brandon Turner , The Book on Rental Property Investing: How to Create Wealth With Intelligent Buy and Hold Real Estate Investing
2 " Life itself is so extraordinary and unique that the only thing keeping people ordinary is themselves. "
3 " Let me share with you one of my all-time favorite quotes. Michael Jordan (yes, that Michael Jordan) once said, “Some people want it to happen. Some wish it would happen. Others make it happen. "
4 " A goal without a plan is just a wish.” —ANTOINE DE SAINT-EXUPERY "
5 " Having goals is great--but it's not enough! You need action, too! You will need to get off your butt and change the world yourself, because no one else will do it for you. "
6 " appreciation, cash flow, tax savings, and loan paydown. Let me explain each one in more detail. "
7 " Lastly, when a tenant moves out, don’t throw away their file. Keep all tenant files for at least ten years. You never know when you might need them, and rubber bins are cheap and can easily be stored in your attic or garage. "
― Brandon Turner , The Book on Managing Rental Properties: Find, Screen, and Manage Tenants With Fewer Headaches and Maximum Profits
8 " exponential growth "
9 " Therefore, it is important to require a deposit to hold the vacant property. This deposit is non-refundable and should be due within 24 hours of being accepted. Simply "
― Brandon Turner , A BiggerPockets Guide: How to Rent Your House
10 " applicant know that you cannot hold the property indefinitely so if they want to guarantee their position they will need to pay the deposit within 24 hours. "
11 " Tenants sometimes like to pick and choose which questions to answer, or conveniently miss a question or two that they think will affect them negatively. "
12 " applicants know that incomplete applications will not be processed. If there are blank spaces on an application, simply give it back to them and let them know it will be processed when it is complete. "
13 " Remember, “smoker” is not a protected class, so you can discriminate against it—we do! If you smoke, you will not be approved for one of our rentals. "
14 " Never take the rental off the market and turn away would-be renters until you have an approved applicant and a deposit to hold the property in hand. "
15 " Most leases do contain a grace period, but only a few states actually require it. We offer a five-day grace period so the tenant can pay rent any time between the 1st and the 5th of the month without penalty. "
16 " You may also want to charge a daily late fee in addition to the set fee. For example, charge a $40 late fee the first day rent is late, with an additional $10 late fee each additional day rent is late. This encourages the tenant to pay their late rent quickly. "
17 " If a tenant moves in during the middle of the month, I don’t pro-rate the amount they pay upon first moving in. Instead, I pro-rate the second month to match the first. In other words – every tenant pays a full month’s rent when they move in, but when it comes time to pay the rent on the 1st of the next month, they will only pay for the amount of days they lived at the home in the previous month. For "
18 " The number one reason given is because their landlord wouldn’t respond to maintenance issues. How silly for a landlord to avoid fixing a $200 issue when the cost of a turnover could cost thousands. "
19 " always right. However, treating tenants with respect, clarity, and promptness goes a long way. "
20 " 1. Be respectful. Your tenants are people, just like you. Treat them how you would want to be treated, no matter how you personally feel about them. 2. Be responsive. Don’t be difficult to get in touch with, and don’t make the tenant wait too long before you take action or communicate what action is being taken. Do what you say you are going to do, when you say you are going to do it, and keep them in the loop. "
