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Landlording on AutoPilot, 2nd Edition by Mike Butler

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CHAPTER 9Why March 31st Is a Wonderful Day!

Who started this stuff you gotta rent your properties for 12 months or for 1 year? Are you in the hotel business? I'm not. I want my great residents to stay forever! Chew on this and start doing this now.

From now on, all of your single-family properties, your rental agreements or leases with tenants will be for a minimum of 36 months, with all of them expiring on March 31st AFTER completing 36 months.

For example, a new tenant moving in on December 10 will complete a lease with an “anniversary date” (lease expiration date) of March 31st, three years down the road, which would give you a 40-month lease! Don't start crying or thinking like a tenant saying nobody will do this. You're nervous and jumpy because you're not used to seeing it.

Keep in mind, you've been “grooming” your applicants and tenants for this all along with these subliminal ticklers:

  • On your rental application, you asked “How Long Do You Want to Live Here? ___ 1 year ___ 2 years ___ 3 years (odds are they already checked the 3-year box)
  • Your Resident Rewards ALL STAR PLAN offers Rent Discounts including a free month of rent upon successfully completely 36 consecutive months with no late payments and no rental agreement violations. They can only redeem their free month of rent when they renew their leases for another three-plus years.
  • You pitched to you new tenants they have access to below market rent because you offer long-term housing, whereas other landlords usually ...

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