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A small piece - a huge price... In this article - I will share with you the lessons we learned via a mistake that costed us 1-month of wasted time after numerous showings with no result, and the rent loss of $1145.00. In addition, you will also learn how it only took 5 minutes and $0.01 to fix this "small yet expensive"problem, once we figured out the root cause.  The story went like this.... After the previous tenants moved out, we went in this 2-bedroom condo,…

401, Swollen Garden Hose Outside Valve - Garden hose outside vavle 101 In this post, I will explain how can a garden hose swollen, the damage it caused and how to prevent it from happening; In addition, I will also share the basic of garden hose outside valve, as well as two common issues and how to fix them quick and with low cost, as well as the so called "5 second rule" for winterization. Let's go!  What has triggered this post? It happened in my…

Why do I receive the lease renew 60 days earlier? "Why do I receive the lease renew letter, while the current lease ending date is still around 60 days away?" Fair question. There are 3 main reasons why: One, in the current lease, it says 60-days written notice shall be given if either side like to renew it, after the current lease expires. It is one of our best practices to send the renew letter to the so-called "preferred residents" 60-days prior so that you may…

A few notes on the receipts Quite often, some residents in our Culfidant community naturally ask for the receipts each time when the rents are being paid every month. This is totally normal and yet here is the common practice we do in our community in terms of rental receipts During the beginning stage when a prospect applies and is being approved for the rental lease agreement, our office shall issue receipts for any transaction that involves money exchange (for example, initial deposit, security deposit, and…

How to set the rents right What is the right rents to be set for a residential rental property? There are many ways to do it. In this article, I will share what are the common ways to set rents that might limit the true potential of your investment, what are the best way based on the sound principles and years of practice, and how to do it step by step. Firstly, below are the most common ways to set up the rents by manyPick a number…

Case study - How "a garage door repair job went bad... What have been learned from it Brief backgroundThe garage door came with the original house (built in Year 2002?). Was being hit once by a drunk old handy-man, not in best shape. The tenant's father did fix a few months ago The lady (tenant) called in May 2020, was not working again Quick note: the lady has habits of over-exaggerating/being dramaticThe time consequences and key notesIssued the work order to Mark door works on May 14. Received note from Mark…

How to connect with your tenants truly To be a true winner as residential real estate investor, one will need to master how to to connect with the tenants truly. In this article, I have shared the 11 steps from beginning to the end of this exciting journey. Enjoy!It took me many years to realize the true title of "landlord", like any other professionals, need to be earned. One of the most important traits to set the awesome landlords from the rest is how he/she connects…