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Go To: Home > Tips & Strategies > Tip 7

Put your rentals on automatic pilot and get the best tenants available

by Jeff Beaubien

If you're tired of tenants trashing your home, making late rental payments, and calling you at 1:00 in the morning because the toilet is broken, you need to discover the benefits of the Lease 2 Purchase contract -- in a hurry!

"It's time to put your foot down..."

With normal rentals, more times than not, tenants will give their landlord a hard time just because they're bored. It's time to put your foot down and eliminate this problem once and for all!

Before we get into how to solve these problems, we must first discover why you became a landlord in the first place. If I were a betting man, I'd guess that your motivation was making money or providing for a tax shelter... or both.

Am I right? Sure I am!

But how much money are you actually making when you accidentally rent your home to that "tenant from hell?"

You know the one... three cars parked on the front lawn, one of which doesn't even run. Constant loud parties with complaints from the neighbors. Chronic late rental payments. Or even worse, a tenant who swore to you that they didn't have any pets, but instead owns six cats, three puppies and a very messy bird!

Just one of these problems can be a landlord's worst nightmare! Trust me, I know from first-hand experience (ask me about the "animal-lover-lady" if you see me).

With the Lease 2 Purchase contract, your rentals will be riding smooth on automatic pilot and your tenants will thank you instead of causing you stress and headaches.

Here's why...

When you rent your home to a tenant on a Lease 2 Purchase, they immediately have a vested interest in the home. They pay you a large non-refundable option deposit that is yours to keep if they ever default on the agreement. Essentially, you're selling your home to them and you're getting a top sales price PLUS you're getting a premium rental amount. The length of the contract and other remaining details are completely up to you.

I have found that tenants who think like home buyers display several consistent characteristics...

"...can provide you with peace of mind."

First, and of utmost importance to us as landlords, they pay rent on time and fulfill other obligations. Second, they take care of day-to-day repairs and other maintenance on your home, which can provide you with peace of mind. Finally, they frequently make improvements to your home, which will increase its value -- and as a consequence -- your bottom line.

During the past three months, I have had just three phone calls from my tenant/buyers... The first gave me a courtesy call to let me know that the rent would be two days late. The second (who is a carpenter) wanted my permission to build a garage onto my house. And the last wanted to get the final details in order so she could buy my home from me -- just two months into our agreement!

Don't forget that since you're offering your home on a Lease 2 Purchase, you are entitled to get top sales price for your home, even if demaind is low, PLUS a premium monthly rental payment. Better yet, it will be sold/occupied in a matter of days instead of weeks or even months. You can take your profits immediately and repeat the process all over again!

Trust me, if I can do it, so can you. It's easy, it's automatic and the instant profits you generate will make your head spin!

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