BiggerPockets

Adding to the Landlording Checklist

Wednesday, June 10

Over the years, I have encountered several situations, problems, and scenarios in the landlording business. As such, my partner and I have created checklists to help guide us and remind us to do certain tasks for certain things. They have become very useful resources for our business.

This morning, I received a call from one of my property managers in San Antonio, TX who informed me that one of my rental homes, which just recently had a tenant move out from (a left it in great condition) had the toilet break and water continued to spill out over a 24 hour period. It flooded the floors into the livingroom and two of the bedrooms! What a mess. I now have him contacting my insurance to file a claim and get it fixed ASAP so the home will be ready for the next tenant.

The moral of this particular story is a reminder to all landlords. The second a tenant moves out, have your property manager (or yourself if you self manage) turn off the water valve to each toilet in the house, or better still, turn off the main valve to the house, so that if anything does break, no water would come out and damage your property. Thi is one item we did not have on the list, it is the first time it has ever happened and it will be the last due to the addition of the task to our checklist.

William Barnard is Managing Partner of Nationwide Property Investments, LLC and President of Barnard Enterprises, Inc. Will participates in millions of dollars in real estate transactions each year and has experience in nearly every aspect of real estate investing, including rehab flips. Join his FREE Membership and enter the new "Make Me An Investor" program at www.nationwidepropertyinvestments,com and start or continue on your journey to creating wealth through real estate!

Comments

1. 

   Will Barnard Reply
   over 2 years ago

   Nationwide has many checklists we use and we include an entire CD of checklists and forms in our Investing Workshop/CD set which is available on our website at www.nationwidepropertyinvestments.com

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