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Recent Blog Posts
- Renters Insurance and Why Require it From Your Tenants
- Real Estate is a People Business with Maria Rekrut
- Being a Landlord is Like Learning to Drive a Car!!
- Testimonial From One Ontario Landlord Association Member about Maria Rekrut
- Sick and Tired of Bad Tenants? Deserve Better?
- Toronto Apartment Rents Tumble a 50-year-High. Is Airbnb to Blame for This?
Maria Rekrut presents Niagara on the Lake Cottage Rental
Keeping Financially Healthy During Covid-19 with Maria Rekrut on All Things Real Estate, July 02, 2020 at 8:00 pm EST. Maria Rekrut is a long time real estate investor who has seen many ups and downs in the economy since 1982, when she started her first business and has always made “Lemonade out of Lemons”. https://youtu.be/BwwyD5f0154
Renters Insurance and Why Require it From Your Tenants
Insurance is the only defence you have as a landlord in protecting your home from tenants who may start a fire or damage your property from negligence on their part that may occur wilfully or by accident.
Remember that Real Estate is a People Business – Things Landlords Need to Know
As a landlord, you walk into the brutal reality that most people simply don’t care about how they live or how delicate something is.
Just like you babyproof a house, you will need to renter-proof your house. This means making things indestructible. If something is likely to break, make sure you don’t spend too much money on it.
Just buy good quality DURABLE, not high-end BREAKABLE. This will prevent you from fixing and buying new things after every tenant.
All of a sudden you have a hard time thinking objectively, you throw your own emotions into the mix, you have self-doubt, you worry if what you’re doing is right, and there’s a blurred line between running this like a business vs a hobby…and when I started, I ran it like a hobby. Don’t do that.
This brings me to my second point…keep things professional, and STICK TO THE LEASE.
In the beginning, most landlords treated the lease more like a guide…as long as you roughly followed it, that was fine. No, NO, NO.
Do NOT do this. Enforce the lease word for word. The lease is written for a reason – there should be no misinterpretation from what’s allowed and what’s agreed on.
This clarifies everyone’s expectations for not only the tenant, but also for the landlord. When that contract is signed, all parties must abide by it.
The third thing landlords need to know is that you need to be on call 24/7.
If there’s ever an emergency, I have my phone on me to handle anything as it comes up. Most situations that come up, even though I’m technically “on call 24/7,” just aren’t that urgent; usually little minor things that are usually sent over email, and you can handle them when you have the time.
The biggest learning experience of all of them is simply dealing with people.
On a bigger picture, deeper down, you really have to learn to communicate effectively, be ok with saying no, be okay with standing your ground, while still being able to hear the other person out.
You need to learn how to explain yourself in a way that makes sense to the other person, without coming off as insensitive or inattentive.
The other person needs to be heard and their thoughts validated before you can say what you want. Just like anything else, people skills are incredibly important and can make a huge difference in whatever business you’re in.
If you want to know more about becoming a Super Duper Landlord, touch base with me on social media, email me email@example.com or call 1-866-226-4730.
Being a Landlord is Like Learning to Drive a Car!!
I have seen this over and over in other landlords groups. The landlords are going and looking for advice, and yes, the advice can be correct.
But the landlords asking the questions are already in trouble, they are very inexperienced and don’t realize what’s in store for them. They are trying to bandage up the problem. They are trying to learn when they are already in trouble.
Then reality sets in…..then the stress… anxiety…the fear of what to do, where do I go for help. All this is very confusing, and it will cost the landlords plenty of time and money.
Instead, why not learn before you get into trouble, take classes and learn from the people who are willing to teach or go on YouTube or read books on the topic. Like they say “when the student is willing the teacher will appear”.
As an example, before I started to drive, I went to a driving training school and took in-class classes. Then I had an instructor take me on the road to teach me defensive driving. He had 2 sets of steering wheels and brakes.
Why did he have 2 sets of steering wheels and brakes? He had 2 sets so that, if I made a mistake, he was there to prevent an accident from occurring, by him putting on the brakes he was able to override what I had done incorrectly from either using my steering wheel or brakes incorrectly, thus preventing an accident.
The next step was that he took me out for “Defensive Driving” this course teaches you tactics and what to look out for when you’re driving and to be always anticipating what the other driver will do, wrong, before they do it.
Defensive driving prevents accidents which can cost you your life and a great deal of money. I am still driving defensively, and it has saved me from many accidents, in fact I even got reduced insurance because I got this certificate of Defensive Driving. It brings back great memories of my getting over the hurdle of being afraid to drive in the streets and highways. That teacher gave me wings to drive and enjoy the many lovely towns I have since then visited.
Learning how to drive, cost me time, money, but it was well worth the investment. Education was the key for my driving skills.
In my 21 years as a landlord, I certainly have never fought against good advice or new tenant screening strategies or business strategies!! I did a 10-week stretch of videos with Jay Shaw talking about strategies. Jay gave up his valuable time sharing what he’s doing as an experienced property manager, for free, yet he’s always looking for new ideas. I learned a lot from Jay, just like I have from all of my fellow real estate investors, landlords, advisors and coaches.
Don’t waste your time and money, instead, short circuit your learning curve and find a coach, read books, watch YouTube videos, listen to podcast, and you’ll have a fighting chance to becoming your own best property manager and real estate investor. I’m here to help you reach those goals. If you want more Free learning and training resources, reach out to me.
Remember That You’re in the Driver’s Seat for Your Own Destiny!!
Want to become a better landlord? Call 1-866-226-4730 for more information or email: firstname.lastname@example.org
Honestly, I find Maria Rekrut a wealth of knowledge. She has more experience than I do as a landlord. With saying that, I also follow the advice of other knowledgeable professionals (landlords, paralegals etc.)
Sure I don’t follow every single thing one of them says. Rather, I take the knowledge they give me, and adapt and adopt it to how I run my own business.
But hey if it wasn’t for the advice and tools I’ve gathered from many many resources, I probably wouldn’t be 28 years old with no mortgage on my principal residence and having several of income properties and some amaze ball tenants (who all paid during both lockdowns).
So thank you, Maria!!!!!! I still have a lot of work ahead for sure to where I want to be, but hey if I didn’t follow some tools and tricks from people like Maria…. I wouldn’t be close to what I have today.
Maria is smart. And she offers some great free advice to on-top of her paid sessions.
Knowledge is power and you can’t knock someone for asking for monetary consideration for their time and advice (lawyers, motivational speakers, personal trainers do the same thing). You also have the power to remove yourself from a group (or any situation for that matter) if you don’t agree with something….
Are you sick and tired of getting bad tenants in your homes? Tired of the destruction of your very valuable property, and of the abuse you have to suffer by some of your tenants? The worst thing of all is not getting paid rent for months at a time.
Do you think you deserve better but don’t know where to start?
I can help you. Join “Choosing your Next 5-Star Tenant Mini Course with Maria Rekrut.
Learn in one month how to choose your next quality tenant. Learn the 7 most important questions and statements that will prevent your “professional tenant” from choosing your place as their next hangout.
I guarantee you that you won’t choose the wrong person from now on, in just 4 short weeks. Instead, you’ll have great tenants who will respect you and your home. They will be mannerly, well-behaved tenants.
Remember you let the bad tenant into your home, you can stop them at the door before they get in, by the questions you ask.
Learn my “secret sauce” to happier land lording!!
This is What You Get During the 4 week- 5-Star Tenant Mini Course:
Members Only Private Facebook Group
Questions and Discussions will be held in this centre hub.
Recorded Weekly Group Zoom Meetings on Tuesday’s at 8pm
One Private phone call meeting with Maria Rekrut scheduled during the month
Private YouTube Link for More Great Training Videos
Podcast Links to Landlord Topics
Articles from MY website: http://realwealthrealestate.com/
SIGN UP FOR MY MINI COURSE AT: email@example.com or call 1-866-226-4730.
Toronto apartment rents tumble as vacancy rates hit a 50-year High
Toronto Apartment Rents Tumble a 50-year High, many ask is Airbnb to Blame for This Tumble? Or are there a few underlying factors the cause of this financial tumble?This tumble started to happen when Airbnb got out of the Short Term Rental Business in Toronto. The City of Toronto, made it illegal to host guests outside of your home. The condo boards, also blacklisted running Airbnb in certain condo buildings. So this tsunami of changes fueled the decline of the condo’s being a profitable real estate investments.Also let’s not forget that Covid-19 and the Coronavirus has a part to play in the fall of the condo market rents and the sales of the condos.This tsunami happened when too many investors got into the Short Term Rental (STR) (Airbnb) business. Every investor needs to diversify into both Short Term Rentals and Long Term Rentals. That’s been the secret to my real estate success since 2000!!I was one of the few investors in the marketplace who was diversified in 2000. With the advent of Airbnb then others got involved. But the other investors again forgot to diversify and now have to sell their properties at a loss. They didn’t do their homework, they only saw short term gain and not long term business strategy. Read the great article below!!
Toronto apartment rents tumble as vacancy rates hit 50-year high https://ca.finance.yahoo.com/news/toronto-apartment-rents-tumble-as-vacancy-rates-hit-50-year-high-185928584.html?soc_src=social-sh&soc_trk=tw&tsrc=twtr via @Yahoo
Is This The End Of Small Real Estate Investors?
In Canada, right now, it’s becoming more and more difficult for real estate investors to make money. The reason for this is that it’s becoming more challenging for real estate investors to obtain money from the bank. Also, the Landlord and Tenant Board’s guidelines are making it increasingly difficult to evict tenants. This will force landlords to sell their properties because of a bad tenant issue, which will incur an effect on the serious small residential real estate investors.
What I predict for the future is that the small landlord will sell their properties and fewer people will invest in small properties, therefore, small real estate investors who own duplex, triplex or fourplex will sell their properties. This will force the tenants to move into either a larger apartment building or the tenants themselves will be purchasing a condo or house.
The perpetual apartment renter will end up in buildings owned by commercial real estate investors or will live in government owned buildings. This will produce a larger division between small and large real estate investors.
If we continue this way, the landlord will face more challenges in choosing their tenants. The small investors will be putting their money without making a profit on their properties. Myself as a real estate investor, I sold a number of my properties when I realized because of the new Landlord and Tenant Board guidelines I was less able to control what was going on with my properties. I decided that it was not fair for people who take financial risks to have other people determine how I run my business. So I decided to sell my properties and keep the money in the bank. At this point, I’m investing in properties that are not regulated by the Landlord and Tenant Board.
I look forward to hearing from other real estate investors who feel the same way as I do and who want to share their war stories.
How to Avoid the NIGHTMARE Tenant. Here is my screening process when looking for a tenant. As a landlord from 2000, I have rented and leased to HUNDREDS of tenants both in my short and long term rentals. These are the red flags I’ve noticed and how I now go about selecting the best tenants. Join my next “Choosing your Next 5-Star Tenant Monthly” Mini Course.
Join my next “Choosing your Next 5-Star Tenant Monthly” Mini Course. Learn in one month how to choose your next quality tenant.
Learn the 7 most important questions and statements that will prevent your “professional tenant” from choosing your place as their next hangout. The “professional tenant” will self eliminate and look for their next victim landlord.
These are tried and true proven strategies that work every time!! Get an edge over your competition and have easy going and problem free tenants. Don’t you think you deserve that?
SIGN UP FOR MY MINI COURSE AT: firstname.lastname@example.org or call 1-866-226-4730.