Introduction to Rental Income
Building Value and Income from Buy and Hold
An Official National REIA Certified PHP Course*

*National Professional Housing Provider (PHP) designation is a nationally recognized education-based certification program designed for Real Estate Investors to recognize the high level of knowledge and professionalism among the holders of this designation. It is sponsored and overseen by the National Real Estate Investor’s Association (NREIA).

Investment
$297 Members
$397 Non-Members

This training course has been designed to provide you with a background to the fundamentals of rental income as it relates to strategic property management to protect your assets.

Committing to managing your rental income like a business with expertise and self-confidence, you can build a solid, continuous and successful investment portfolio.

TRAINING INCLUDES:
Live Full-Day Training Session
Course Manual
Checklists
Interactive Activities

COVERAGE TOPICS:

OWNERSHIP & PROPERTY MANAGEMENT

• Learn to avoid the Common Mistakes
• Property Management is more than Property Ownership
• The Owner-Resident Relationship is a Key to Success

PREPARING THE PROPERTY

• Understand importance of a well-prepared unit prior to leasing
• Learn to keep the exteriors in peak condition
• Learn how to make a rental unit ready

RENT!!!

• Understand rent is not just a Number!
• Learn about break-even, market and competitive rents
• Learn sound rental policies
• Understand how to increase rent effectively

MARKETING

• To understand the importance of professional marketing
• To learn different methods of marketing
• To understand how Fair Housing rules impact marketing

BUYING SIGNALS

• To learn how to establish rapport
• To understand objections are buying signals
• To learn tips in showing the property
• To understand closing the sale
• To learn how to follow up

APPLICATIONS

• To learn the importance of written rental applications
• To review parts of the application
• To learn about income requirements
• To determine proper selection criteria

SCREENING

• To detail the different areas of screening required for application qualification
• To learn how to establish income criteria
• To understand the difference in credit ratings and evaluating those ratings
• To review “tips” in screening all aspects of future residents
• To learn how to choose a resident from and applicant and reject other applicants
• To learn about compliance with the Fair Credit Reporting Act

RENTAL AGREEMENTS AND LEASE FORMS

• To understand the lease document and owner liabilities
• To learn about resident responsibilities and legal remedies
• To review major lease contents and how to complete the lease
• To learn about security deposits, agreements and responsibilities

MOVING IN

• To understand how to make ready the unit and documents
• To review the suggested resident orientation meeting
• To review prorated rent at move-in
• Address common move-in complaints
• Complete the move-in process as a positive experience

THE END OF A LEASE TERM

• Understand how a lease can end
• Learn the lease renewal notification process
• Understanding notices to vacate
• Learning about difficult ends to leases

WHEN RESIDENT PROBLEMS ARISE

• How to deal with resident complaints
• How to respond to resident’s legal counsel
• How to conclude effective dispute resolutions

EVICTION

• To understand the decision to evict a resident
• To learn alternative methods to resolve lease violations
• To learn how to conduct an eviction

RESIDENT RETENTION

• To understand the reasons resident stay at a property
• To describe a good resident retention program
• To learn the Ten Commandments for good resident relations
• To learn how to negotiate lease renewals

MAINTAINING THE VALUE OF YOUR PROPERTY

• To understand the market value of rental property
• To learn how appraisers determine value
• To understand the influence of market factors on value
• To learn to control what can be controlled

PROPERTY MAINTENANCE

• To hire help or fix things yourself
• The scope of ongoing maintenance needs
• The role of the independent contractor
• Help residents help themselves to maintenance
• The importance of regular inspections

CODE ENFORCEMENT DEPARTMENTS

• Learn about building and zoning departments
• Clarify how codes are enforced
• Review habitability
• Encourage proactive relationships with code departments
• Understand code and permit requirements
• Learn about violations and resolutions

FINANCIAL MANAGEMENT

• The importance of thorough and regular management of the rental property finances
• The key balance of careful cost cutting and income maximization
• The basic importance of the operating budget.

TAXES

• Learn the four basic ways to make money in real estate
• Understand the impact of the tax laws on real estate profit
• Learn how to use depreciation
• Understand Section 469 of the Tax Code
• Introduce the 1031 Exchange
• Learn what expenses are deductible
• Understand the importance of record-keeping and tax statements
• Appreciate the importance of working with a tax accountant

PROTECTING YOUR INVESTMENT

• The importance of carrying insurance
• Learn the property, then cover it
• Take basic precautions against catastrophes
• Various forms of insurance
• Keeping insurance costs down
• Follow safety and health rules to minimize additional risks
• Use energy efficiency to protect the property

SECTION 8 AND RENT SUBSIDY PROGRAMS

• Learn how Section 8 works
• Define housing vouchers
• Learn about Housing Quality Standards
• Understand rent reasonableness
• Learn about PHA’s
• Clarify owner and resident obligations

REGISTER FOR NEXT SESSION!

ABOUT THE TRAINER

Dr. Teresa R. Martin is an Attorney, personal finance coach, business credit development consultant, real estate broker, investor and co-author of the book, “Entrepreneur on Fire” with Billionaire Real Estate Mogul, and star of the hit ABC show Shark Tank, Barbara Corcoran.

Aside from being a successful attorney and founder of Generational Wealth Zone, Teresa is also a well-seasoned real estate investor who took the industry in awe with her focus on creative acquisition strategies that she has developed alone, has implemented and taught to others through the Real Estate Investors Association NYC (REIA NYC). She is looked up by many people as well for being an inspiring leader as past President of the nation’s largest non-profit organization that is very much dedicated to investment education, New York Chapter of Better Investing.