All Forum Posts by: Adah N.

Agree, some touch up/refresh/repaint is expected. That is why we are considering language that passes a portion(not all) to the tenant. 

 Thanks. Previous owner says it was freshly painted, I believe him. No amount of Mr Clean will do it.

I am looking for a way to word lease to make a portion of refresh or repaint tenant responsibility even if it is normal wear and tear, if tenant stays less than 4 years. Why? Reduce turnover costs. Besides, margins for this property is being eaten up by 35%+ increase in property taxes.

Anyone have such language in their lease?

$4k for “1 coat” is annoying. PM should be quoting to do the job properly period.

$4k to paint $2300+ sqft properly sounds reasonable. It will vary by location though. In metro Atlanta it would be competitive to reasonable.

 Thanks. The prior owner said it was freshly painted. Yes, deducting from security deposit which will not cover paint and other charges.

If tenants move into a freshly painted house and move out after 2 years  it will probably need touch up or repaint. I want them to pay half, I see how they will dispute and claim paint is normal wear and tear. Even if it is normal wear and tear, I want them to pay half, but will waive if they stay 4+ years. I’ve also heard some judges will not allow it. However, what if it is specified in the lease?

Looking for a way to word it so what comes across is keep walls clean, stay 4+ years to avoid costs…

Definitely DO NOT spend $10k on PMI to get $50 per month. I'd say start saving for next property or stock market or even use for improvement to property if it will fetch higher rent or major deferred maintenance. For example if you intend to hold property long term and roofs are 25+ years old or you have 40 year old caste iron pipes etc. Or spend on flooring, kitchen, property renovation if it will fetch you $150+ more rent.

It is quite expensive to paint. About to spend $2500 for labor and materials to repaint a 1400 sqft townhouse. BTW this is a competitive deal  for my area. Yes, we self manage. No, we refuse to do any of the work.  

This will greatly deplete cash flow for those $200/door deals. Tenant (inherited) was in unit for 17 months, we have to repaint as most of the walls are badly stained. This got me thinking about adding a language to lease to deduct (from security deposit) costs related to repainting or refreshing. For example move within and up to 1 year tenant pays for 75% of cost to refresh  or repaint. Move after 3 years tenant pays 25% and 0% if they stay 4 or more years. Cost applies when tenant chooses not to renew or landlord terminates due to lease violation.

Anyone include language about repainting or refreshing paint in their lease? Thoughts?

 I agree. I don't think the grey will go too far though. I hope it comes back any day now, especially the very light shades. Love the grey white shades.

@Maurice Smith

Look into a Home Equity Loan. Your original loan remains at the original interest rate. The equity loan will be at the higher 8% interest. Your out of pocket will be much lower than refinancing the entire loan. 280k at 3.625% +’215k at 8%, has a much lower monthly payment than 495k at 8%.

@Kyle McVay

Definitely clearly state the qualifications in the ad or when they contact you. I always plan open houses and inform prospects who contact me with date and time of the open house(s). It allows me to control my time and give plenty of opportunity for interested parties to view. I will only do 1-1 showing for a fully qualified applicant(application, income, credit and criminal background check).

@John Woodhouse

I think this may work in a high demand area. If your market is not high demand, I would put the requirements in the ad, reiterate requirements again when they inquire, invite them to complete prescreening, ask them to apply with their Zillow application if they already have one and invite them to the already scheduled Open House.

Anyone who wants to see outside of Open House will have to complete application AND qualify for me to show one on one. Even then, I will convert the second half of their showing to an Open House.