Cash Flow Friday Tip #3: The Secret Monthly Program that will save you Thousands
January 30, 2015
In today’s Cash Flow Friday tip we’re going to talk about keeping an eye on the conditional of your rental properties on a regular basis and how to do it without looking like you’re micro managing your tenants by creating a monthly or bi-monthly HVAC filter replacement program.
Our company implements a Bi-monthly plan which kills two birds with one stone and you can do the same.
1. It ensures that our equipment is maintained as our past experience has shown that most tenants never replace filters, even if they are given a year’s supply at the beginning of the lease agreement.
2. You can identify any other potential maintenance issues while in the home and also get a good look at the overall condition of the residence and see if the tenants are breaking any of the polices of the rental agreement (undocumented pets, more residents than stated, drugs or other illegal activity, etc.) If they are, you can take action to remedy the situation by creating a formal warning to them to fix the situation by a certain date or run the risk of being evicted due to breach of contract.
Deferred maintenance and unruly tenants can wreak havoc on you and your property and by implementing a maintenance program like the one discussed you can hopefully get in front of any bad situations before they start.
Thanks for listening in to the Cash Flow Friday Tip and until we meet again next week, Get out there and make some cash flow happen.
- Yours Truly