By Jeff Stewart… – Oct. 2, 2012

By Jeff Stewart, CCIM / Stanberry & Associates

Austin, Texas

Since I have been suggesting investing in rent houses (or office warehouses, etc.), maybe I should touch on my philosophy about being a landlord.  Being a landlord is not always a picnic, but a few basic rules really limit my problems.  Having done property management for thirty-seven years, I have established some very simple guidelines that minimize the headaches.

  •  Absolutely no pets.  Period.  No exceptions.
  •  Require virtually perfect credit.
  • Carefully explain what I expect of new tenants.
  • Treat tenants with respect.
  • Respond to any repair request ASAP
  • Try to maintain property as if we were living there.

Through the years, I have come to realize that people with practically perfect credit, take pride in most  everything  they do .  My rental problems became almost non-existent once I started holding out for great credit scores.

Citywide rents in Austin are averaging right at $1.10 per square foot and hardly a “For Rent” sign is to be found.  It is a fun time to be a landlord.

jstewart@stanberry.com / 512-327-9310

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