Cash Flow Friday Tip #3: The Secret Monthly Program that will save you Thousands

Real Estate Investing for Cash Flow with Kevin Bupp

Kevin Bupp

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4.9 • 675 Ratings

🗓️ 30 January 2015

⏱️ 4 minutes

🔗️ Recording | iTunes | RSS

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Summary

In today's Cash Flow Friday tip we're going to talk about keeping an eye on the conditional of your rental properties on a regular basis and how to do it without looking like you're micro managing your tenants by creating a monthly or bi-monthly HVAC filter replacement program.

Our company implements a Bi-monthly plan which kills two birds with one stone and you can do the same.

1. It ensures that our equipment is maintained as our past experience has shown that most tenants never replace filters, even if they are given a year's supply at the beginning of the lease agreement.

2. You can identify any other potential maintenance issues while in the home and also get a good look at the overall condition of the residence and see if the tenants are breaking any of the polices of the rental agreement (undocumented pets, more residents than stated, drugs or other illegal activity, etc.) If they are, you can take action to remedy the situation by creating a formal warning to them to fix the situation by a certain date or run the risk of being evicted due to breach of contract.

Deferred maintenance and unruly tenants can wreak havoc on you and your property and by implementing a maintenance program like the one discussed you can hopefully get in front of any bad situations before they start.

Thanks for listening in to the Cash Flow Friday Tip and until we meet again next week, Get out there and make some cash flow happen.

Transcript

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0:00.0	Welcome to Kevin's Cashflow Friday Real Estate Tip, where Kevin shares with you strategies
0:09.8	and tips that will help increase your cash flow, make you a more sophisticated investor,
0:14.8	and provide you with the tools necessary to take your real estate business to the next level.
0:19.4	Now, here's the man you've been waiting for, Kevin Bub.
0:23.3	Hey, guys, Kevin Bubb here with episode number three of the real estate investing for cash flow,
0:28.1	Cashflow Friday tip.
0:29.7	Thank you for joining me again as I share tips and strategies that will bring you a ton of value
0:33.5	and help take your real estate business to the next level.
0:36.7	In today's cash flow Friday
0:37.7	tip, we're going to talk about keeping an eye on the condition of your rental properties on a
0:42.1	regular basis and how to do it without looking like you're micromanaging your tenants. And we're
0:46.8	going to do this by creating a monthly or a bi-monthly HVAC filter replacement program. We actually
0:53.7	implement a bi-monthly plan into all of our rental
0:56.4	contracts, and what this does is it kills two birds with one stone. Number one, what it does
1:02.0	is it ensures that our equipment is maintained, as with our past experience of being landlords for
1:06.6	a long time, it's evident that tenants typically don't take care of your HVAC equipment. And what I
1:12.5	mean by taking care of it is they don't change the filter. The one simple thing that needs to be done
1:17.4	to really keep up on the maintenance is replacing the filter. And they don't do it. And we've gone
1:22.4	as far as even providing 12 months worth of replacement filters when they sign their lease agreement.
1:27.0	We show them how to do it.
1:28.2	We explain to them that needs them every 30 or 45 days.
1:32.0	And then we'll get the home back after 12 months and we'll find the original stockpile of filters.
	...

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