Retired cop offers unique take on landlording

Learn the New Luxury Playbook at Luxury Connect | October 18-19 at the Beverly Hills Hotel

Whether you are an "old pro" residential landlord or a beginner novice, you will benefit from and enjoy Mike Butler's "Landlording on Auto-Pilot." This now-retired cop and his wife built their realty empire by purchasing mostly single-family rental houses, plus some apartments. Along the way, they developed management methods to minimize the inconveniences often caused by tenants while still delivering superior service. "Your tenants are your employees" is the novel approach Butler uses to manage his residents. Starting with the renting of the house or apartment, he trains his residents to pay the rent promptly and not cause problems. To accomplish this result, he rewards them for on-time payments. Purchase Bob Bruss reports online. Butler shares his basic belief that most tenants would buy their own homes if they could afford to do so and if they had adequate credit. However, he acknowledges most tenants, at least in his class of rentals, are not able or are not motivated to own their...