All Forum Posts by: Al Pat

@Alyssa Kroeker every now and then I receive a call from realtor stating they have a great tenant that they would like to present to me. This happens right after I list my properties. I give them the open house time and day and also tell them about other potential tenants who I have waiting to see the house. Once they realize that I don’t need their help and they will not get paid, I don’t see them at open house or hear back from them. Be upfront about them not getting paid by you if they show up for showing so no drama later.

I have been maintaining all the appliances I supplied in my SFRs and Multifamily. Its just that as you scale  up, these cost start to add up. However, I have great tenants and do not want to rock the boat so I will continue to maintain them despite the language in my lease. Based on the responses, it seems everyone else is doing the same so I am not any different. Makes total business sense and I appreciate everyone's feedback.

All these years I have been maintaining all appliance in my rentals though my lease says:

"Appliances are in the Residence for the sole convenience of Landlord. They are NOT a part of the Rental Agreement and are specifically exempt from it. Tenant may use appliances, but Landlord is not and will not be responsible for the maintenance and upkeep of such and any appliance. Tenant will have to maintain or repair appliance at their expense with Landlord’s consent OR Landlord will remove same from the premises, if Tenant does not want to maintain or repair them. Landlord must be notified before any appliance is moved from original area by Tenant.Tenant acknowledges that Tenant has inspected these appliances and that the same are in good working condition."

How do you all handle the appliance repairs? All my appliances have been brand new and have been working well but every now and then something pops up that becomes $200 service call. Friends of mine who owns the rentals are stating that they plan to have tenant maintain it. I have pretty good tenants in all my units and pays on time or earlier or not sure how to charge them for repairs. This clause does not include major things like HVAC or water heater.

I am interested in hearing other fellow landlord's take on this.

@Justin Petrides No of you are going to self manage otherwise rent it and have PM manage it.

@Nicole Obregon if there is an eviction on their record then I don’t process their application. Only exception if the eviction is older than seven years. Based on what you have mentioned, it’s a NO GO for my properties.

Originally posted by @Tom Bertz:

assume you are the seller and the buyer did that to you.  Would  you think you were dealt with in an ethical manner?

 Tom - you beat me to the punch. 

For Original Poster (OP), What is legal is NOT always ethical and vice-versa. I always want to run my business on the ground of morality and ethical behavior. OP is NOT solving sellers problem, OP is just making sure he help delay large capital gain for seller for the next 10-12 months until new financing is found (unknown to seller). If I were seller, I will have contingency for the life of the loan (10 years) with reducing pre-penalty option. I wouldn't do this anyway either as a buyer or seller. 

Originally posted by @Andy Webb:

We use eRentpayment for all our properties - it is a lease requirement.  

I am curious about Zelle - aren't there caps on the amount that you can transfer? Are you using Zelle for rents over $1,000?

 I have rents coming in the range of $1250 - $1400 and have not had any issues. Neither with CASH app or Zele.

@Adrian Smude I give them what my bank gives me for making on time mortgage payment, yes you guessed it. This is business and not a hobby. If you never have a plan to evict them inspire them not paying then by all means create personal relationships otherwise it’s a business relationship.

@Jess White I use Cash App or Zele. Tenant can make payment using these apps only if they have funds in their account. If they used Zele, then money deposits in my account instantly where as for Cash app, it’s next day. Using it for over two years and very pleased with it. I also collect in cash from two of my older tenants who are not so tech savvy and I don’t take personal check, so either money order or cash. I then deposit it to my business account or to replenish petty cash. Excess funds go to LLC account eventually.

What are you trying to get done? May be I refer you to my contractor.