We have all had those--have to take the good and the bad of the business.
We just had a nice little $600 repair in some leaky flooring that we had to cover today. You shake your head and grit your teeth but at the end of the day it's just a cost of doing business. We landlords don't say a word when our rent checks cash every month--only when something bad happens.
Congrats on your continued success. Go find another one!
Do you do regular maintenance inspections? Often times you can nip problems in the bud if you check up on your properties periodically and make sure tenants are abiding by the terms of the rental agreement during the course of their tenancy.
When a tenant gives notice they will be moving, we will meet with them in the apartment/house to go over the move-out instructions. At the same time, we have the ability to see what the unit looks like. This reduces surprises, lets us emphasize to the tenants what we need them to do and what the unit should look like after they vacate. It also helps us prepare for the turnover. We prefer to do move-out walk-throughs with the tenants, so they will not be surprised with how we handle their security deposit.
Marcia Maynard, Fischer Properties | Podcast Guest on Show #83
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