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Updated about 6 years ago on . Most recent reply

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Khanh Dam
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minimizing Tenant turnover

Khanh Dam
Posted

Apartment complex down the road offers a discount for 15 month leases vs 12 months leases of about $10 per month savings. Is forcing people to stay an extra 3 months a good indicator they will likely live there longer?

Duplex has a 2 bedroom 1bath side and a 1 bedroom 1 bath side. pricing is about $100 to $200 less than similar units located close buy. Longest I have had people stay typically is 2 years, but on average it is almost every year. I only have 4 units and do landlord as a weekend warrior. This "passive income" is costing me weeks of work. This year I need to redo the roofing, few years ago needed new HVAC. These are one week long projects for a one man workforce. I think I will split the back yard with fencing so it is more private for each side. 

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John Underwood
#5 All Forums Contributor
  • Investor
  • Greer, SC
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John Underwood
#5 All Forums Contributor
  • Investor
  • Greer, SC
Replied
These are passive for me because I write checks for the work on my rentals. If your investments can't support the price of someone else doing the work then they may not have been the best choices for passive investments.
If you are just starting out and are trying to maximize the cash flow to get established then I can understand that.
Apartment complexes have a higher turnover. I believe people tend to stay longer in SFR houses or a duplex.
  • John Underwood
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