Caring for rental properties is no easy job, especially when dealing with short-term tenants. Repairing damage and replacing parts are problems that every landlord has to face. In 50 Money-Saving Tips, Mike McLean, one of the most successful landlords in the Philadelphia area, shares his secrets for succeeding in this challenging business.

Through the use of humorous, real-life stories and an abundance of practical advice, McLean covers virtually every aspect of maintaining and upgrading rental units. His tips will teach you how to deal with difficult tenants; cheaply and efficiently eliminate infestations; repair floors, walls, and ceilings; fix plumbing problems; maintain your confidence, and much, much more. On the way, the author will prevent you from making the mistakes that he made before becoming a savvy landlord.

Whether you’re just starting out as a landlord or have already been one for several years, 50 Money-Saving Tips for Every Landlord will show you how to trim down your budget in ways you never knew existed.

Mike McLean has been a landlord for over fifteen years with a focus on purchasing single-family homes and renting them to low-income tenants. A highly sought-after speaker, Mike is a regular guest lecturer at many Landlord Association meetings and shows.

Contents

Introduction  

Legal Protection

Tip 1. Insulate Yourself with a Great Lease   

Tip 2. Take Photographs before Move-in Day   

Tip 3. Video Record the Entire Property   

Your Business

Tip 4. Consolidate Loans into a Blanket Mortgage   

Tip 5. Stay Organized   

Tip 6. Keep Showing Your Property   

Tip 7. Remain Confident   

Dealing with Tenants

Tip 8. Do Not Give Your Personal Phone Numbers to Tenants   

Tip 9. Just Say No  

Tip 10. Don’t Spoil Good Tenants   

Tip 11. Don’t Stress about Tenant Cleanliness  

Safety  Safety  Safety

Tip 12. Keep the Doors Locked   

Tip 13. Don’t Open the Door   

Tip 14. Deny being the Landlord   

Tip 15. Always have Someone Foot Your Ladder   

Tip 16. Know Who You are Hiring   

Tip 17. Perform a Background Check   

Tip 18. Never Use a “For Rent” Sign   

Tip 19. Never Hold an Open House   

Interior Work

Tip 20. Quickly and Efficiently Clean Out Your Property   

Tip 21. Change All of the Light Fixtures   

Tip 22. Eliminate the Garbage Disposal   

Tip 23. Choose Stoves Carefully   

Tip 24. Remove the Dishwasher   

Tip 25. Remove All 220-Volt Electrical Outlets   

Tip 26. Replace Wall-Mounted Sinks with Vanities   

Tip 27. Stick to Single-Handle Faucets  

Tip 28. Always Use Caulk   

Tip 29. Hang Shower Curtains   

Tip 30. If the Flooring is Okay  Leave it Alone   

Tip 31. Think Long and Hard before Installing Carpet   

Tip 32. Replace Outlets and Switches   

Tip 33. Use Thick Sleeves to Paint   

Tip 34. Do Not Let Your Tenants Paint   

Tip 35. Make Sure the Interior Doors are Solid   

Tip 36. Use Structo-Lite to Repair Basement Walls   

Tip 37. Install Dropped Ceilings   

Tip 38. Limit Damage Caused by Leaks and Floods   

Tip 39. Prevent Roaches without an Exterminator  

Tip 40. Purchase these Life-Saving Tools   

Exterior Work

Tip 41. Do Not Grant Tenants Access to the Garage   

Tip 42. Choose Rubber over Tar Roofs  

Tip 43. Cover Windows with Plywood and Siding   

Tip 44. Replace Remaining Basement Window with a

Tip 45. Cover the Porch Ceiling with Vinyl Siding  

Tip 46. Do Not Install or Repair Screens   

Tip 47. Remove All Shrubbery   

Tip 48. Make Tenants Responsible for Oil Heaters  

Tip 49. Switch to Cheaper Plywood  

Tip 50. Patch Concrete Sidewalks before Inspection  

Conclusion   

Index