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All Forum Posts by: Ashley Mallory

Ashley Mallory has started 2 posts and replied 4 times.

@Martin Guerrero How do you lead guests to your direct bookings after their 30day stay through AirBNB? I would like to do this as well. Open to learning how others do this as well. TIA

Hello everyone, I need advice.

Issue 1: I purchased a 4-unit multifamily apartment in June 2023 from a landlord who rented a very spacious/ nice 2 bedroom 1 bath unit to her daughter and son-in-law for $775 per month (with a deal that son-in-law would keep grass maintained per month-to-month lease) without a security deposit or move-in inspection. When we reviewed the unit in person and virtually before purchase it was in great condition. After purchasing, I inquired about the move-in inspection document to the previous mom/landlord, who said that her daughter had the cleanest and best unit than the other 3, and the other units were actually in really good after the other tenants moved out. 

Fast forward: Tenants are moving out by November 1st given they do not want to renew their lease. The tenants reviewed and have problems with signing the reasonable Move-out inspection document with instructions to return the unit in good condition or else they will be charged fees  (cleaning light bulb, obvious damage outside of normal wear n tear) given she states she replaced light bulbs and head unit deep cleaned.... 

My rebuttal is that based upon the previous inspections done before purchase, her mother's statement (in email), regardless of the previous condition when they moved in unit, what matters is condition when unit was purchased, and no matter where they go -as tenants- they are responsible for keeping unit generally maintained - clean , undamaged, and bulbs replaced leaving the unit in good condition given they likely would not move in a crappy unit.

 Is that sufficient for me to state to Tenants (in writing)?

2nd issue with A/C : August 30th, the tenant and her husband stated A/C in one room no longer blowing out cold air, but still works. They live on 2nd floor, I live beneath them ( house hacking). In the morning the outside temp has been in the 50-60s and mid-day it ranges 70s- 80s-. I did not have it replaced nor reviewed for the following reasons: they said it still worked; they didn't complain about it all during the month of September; I have been in the vacant unit across from them showing to prospective contractors various times of day and the unit has not been hot/uncomfortable; I am monitoring their windows DAILY, they are NEVER up or open to indicate they are hot or very uncomfortable. 

They are paying $775 per month, already paid October's rent and will be vacating by November 1st, but she wants a credit. 

Since she is already getting a great deal for the unit, still has one working A/C, and the aforementioned reasons above, I do not think a credit is warranted at this time, but I am happy to purchase 2 fans for them. What is most reasonable to do in this case? I don't think I should credit them. We also need our money to upgrade the 2 other units AND her unit when she moves out. We are losing money right now.

Post: Rent increase recommendations

Ashley MalloryPosted
  • Posts 4
  • Votes 2

Questions: 

How often should I go up by $150? Every 2 or 3 months sufficient (like December 2023 or January 2024)

Does anyone have any other recs on how you would approach rent increase in this situation?

Back story below for context: 

I’m new landlord to 4unit multifamily, hacking in one unit. 2 tenants have just moved out their units , which are about to be renovated , so I have to tread lightly to avoid completely vacancy.

Current inherited tenants were family to previous landlord in nice spacious 1200 sq ft nice unit currently paying $775 on month to month lease, which is WAY below market rate. They were paying $700 until Feb 2023.

Current market rate goal for local area is $1250. Which is still below market rate based on what they are getting compared to other places in areas.

Im giving options to inc from $775 to $1250 in October

OR

Inc from $775 to $975, with acceptance of gradually increasing to goal $1250