All Forum Posts by: Andrea M.

All my tenants have my cell number and I turn my ringer off at about 9pm every night. They know they can call and leave a message or text me and I will respond at a reasonable hour typically the next morning when I wake up and get their family to a safe place in the event it is that kind of emergency.

Lots of great responses above, but when marketing realize the apartment complexes will be your biggest competition who offer discounts all the time. As a private owner, you may want to consider offering a $100 discount on 1st months rent or security deposit but not both. You may want to consider placing an ad in your local paper because as much as we want to believe everyone is internet/computer friendly, many aren't. Also I tend to post my ads on craigslist on Monday mornings for me I seem to get a lot more inquiries during the week versus on the weekend where I may get only a few and I post more than 1 ad with a eye catching title, since it tends to get buried by all the other postings a well as noting I am a private local owner which helps prospective tenants know that my ad is not a scam.

My pet policy depends on the particular property, but I don't rule them out. Dogs and cats can do a lot of damage that can be costly. I would check with their current landlord regarding a reference for the tenant and the dogs to see if they have any damages/problems. Require rental insurance that includes the dogs. You can request a non refundable pet deposit or monthly pet rent (I typically charge $25 per month, per pet). If you approve the animals, I would also take a picture of each for the tenants file. Include a pet addendum and do quarterly inspections.

My apologies, the rehab will be funded by us, using our money, time and resources

Side by side duplex (total of 2 bedroom 2 bath on each side rent approximately $750 each side) selling price 26K, out right or partnership at the same sale price but he gets 6K upfront either way. He wants us to rehab ( approx. 30K), manage and rent the property until the note he holds is paid off and out of the rental income the property taxes gets paid and the 1 of the 2 rents collected goes towards the note that he holds . I think this is a crock of bull, however I wanted some input from the BP community. Thanks in advance.

Chuck King go to Resources> File Place to search for lease agreements and rental applications, which you can download and tailor it specifically to your state law/requirements . I think all landlords have increased what is documented in the rental agreements based on experience with a tenant. You may also want to google your local tenant/ landlord act to ensure you are in compliance or maybe even speak with a local real estate attorney to assist

My lease states if any appliance/plumbing is broken or needs repair and qualified technician deems negligence on behalf tenant, tenant is responsible for repair/replacement cost. Which typically, I pay for and the tenant reimburses me.

I have quite a few low income renters and either way, if they have an annual lease or month to month, if they want to leave they leave without notice (which may just be the mentality of some people) . What helps me avoid high maintenance cost I do quarterly inspections (which is documented in my lease). As long as I stay on top of my paperwork regarding the late or non payers, I actually don't lose a lot of money with evictions or turn overs. However all those properties we own free and clear so outside of home owners insurance and taxes, we turn a pretty good profit.

I would have both the parents and the student on the lease and do background check on all. At the least the parents as cosigners

No I wouldn't just paint over it, I agree with all the comments above regarding the testing to find and fix the underlying problem.