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If a tenant does get their rent to us late , they are responsible for additional rental fees of one percent per day . These fees are in our lease as additional rental fees as opposed to late fees since some courts won ’ t allow you to get a judgment for late fees . Within the body of our lease we also require our tenants to have renters insurance and I want to see proof of the policy before they move in . This way I can ’ t be held liable for any injuries or the loss of their possessions due to an accident , fire , hurricane or any other natural disaster .
Additionally , once my tenants sign a lease with me , I will not give them keys until I see proof of utilities in their name for the unit . In certain counties like ours , the landlord can ’ t turn off utilities in their own name . The only way the name changes on the utilities is with a new lease and then utilities get put in the tenant ’ s name . This rule may be different where you live , but a lot of the time if the tenant doesn ’ t pay their utilities it falls back to the landlord . This is just one way for you to protect yourself .
These are just a few of the basic techniques that will make you a happy and successful landlord . Monthly cash flow is a wonderful thing if your properties are managed correctly .
For more information on becoming a successful landlord and finding all the deals you need for your real estate investing business , check out my website at www . marketingmagiclady . com .
While you are there be sure and sign up for my Free Monthly Newsletter .
MEET KATHY KENNEBROOK
Kathy Kennebrook is the ultimate success story . She spent over 20 years in the banking industry before discovering the world of real estate . After attending some real estate seminars this 4 foot 11 mother of two got really excited and before you know it she ’ d bought and sold hundreds of properties using none of her own money or credit .
Kathy holds a degree in finance and has coauthored the books The Venus Approach to Real Estate Investing , Walking With the Wise Real Estate Investor , and Walking With the Wise Entrepreneur which also includes real estate experts Suze Orman , Robert Kiyosaki , and Dr . Wayne Dyer .
She is the nation ’ s leading expert at finding highly qualified , motivated sellers , buyers and lenders using many types of direct mail marketing . She is known throughout the United States and Canada as the Marketing Magic Lady . She has put together a simple stepbystep system that anyone can follow to duplicate her success .
Kathy has been speaking throughout the country and across Canada for over 14 years and has shared the stage with Ron LeGrand , Dr . Phil , Dan Kennedy , Mark Victor Hansen , Ted Thomas and Suze Orman to name a few .
Kathy is going to share with you how she generates a seven figure income by mailing a handful of letters throughout the year to highly selected targets by knowing exactly what to send them , who to send them to and exactly how to deliver her message . She will teach you the secrets of prescreening and automating your marketing and follow up systems to put your entire Real Estate business on autopilot .