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It’s your lucky day.
The *perfect* Tenants want your house.
References check out.
They have money.
And your criminal history is worse than theirs.
* traffic tickets count - nice try *
They want to move in ASAP.
So you sign the killer lease and email it over.
Six hours later - no...
Your Tenants pay a security deposit, right?
* um, yeah... *
Smart move.
It's a great way to protect yourself (and get paid).
But where do you keep it?
It's not your money, after all.
Invest in Bitcoin?
Your personal bank account?
A Mason jar buried in the backyard?
Nah, you know better.
There is...
Google rocks.
It can make you an *expert* on anything.
But sometimes Google is wrong.
Say you want to know how much you can charge in late fees.
If you’re not a Legal Plan Member, you can’t just call a lawyer for the answer (without getting billed).
So you Google it.
And...
So, um…
Remember that law we mentioned a few months back?
The one forcing you to be a Section 8 Landlord.
At the time, it just passed the House.
But now it’s headed to Gov. Pritzker’s desk.
And it’s a sure bet he signs it.
* Googles Section 8 housing *
Section 8...
“Yo… we got a leaky sink!” shouts your Tenant.
By now, your plumber is on speed dial.
He fixed it lickety-split (no major issues).
Until that night.
Three missed calls - in less than a minute - from your Tenant.
And this text - “Your plumber STOLE my...
Never try to predict what your Tenants will do.
You’ll always be wrong.
Yes, some things are their fault.
Other times, not so much.
While you can’t guess the future, you can protect against it.
Do this in your lease (or use ours).
Make your Tenant’s carry...
Wanna learn some magic?
It won’t impress your friends.
But it will save you from suing a stranger in your home.
It’s two words.
Sprinkle them on eviction notices and lawsuits.
Here’s why…
Folks must be listed by name to get evicted.
Let’s say Tim Tenant moves...
Raise your right hand.
Do you swear to tell the truth?
The whole truth?
And nothing but the truth?
* wipes sweat off forehead *
Have you ever testified in court?
If so, you know a Judge will ask this before you take the stand (as if it matters).
If everyone tells the truth, how can their stories...
Someone's watching.
It happens to be you.
Thanks to technology, you can keep tabs on the rental house.
Anytime. Anywhere.
How so?
Two words: security cameras.
It's like having a full-time bodyguard (minus the tattoos) watch over things.
But be smart about where you place them.
Anywhere...
Times are tough.
And most think it's getting tougher.
When a dollar ain't worth a dime, folks get creative (or desperate).
Some Tenants turn to Airbnb/VRBO to help pay the rent.
It's simple.
A Tenant rents your home to weary travelers.
Don't worry, it's only for the night.
Seems innocent...
Dirty money.
It's real.
You may even have some of your own (cocaine shows up on 80% of dollar bills!).
It's creepy, but whatever.
Money is money.
Who cares if your Tenant hands over a wad of cash that spent the last summer on a yacht in Miami.
You don't question where the rent comes from.
Well,...
You bought a new rental home.
It's in a great location.
It cash flows.
And the bathroom shiplap will be a hit with moneybag trendy Tenants.
There's only one problem.
A Tenant came with the house.
And the Seller's lease sucks.
He spent hours on Google before throwing in a few terms of his own. And...