All Forum Posts by: Barb Asay

Have you checked what your actual interest rate would be for a commercial loan?  You're calling 4.5% for a mortgage "super low" but that's the rate I've been getting for my commercial loans.  Well, varying 4.5-5.5% over the last 3 years or so but on the low end of that most recently. 

So maybe its not what you were thinking it would be?  That or maybe you need to shop financial institutions?  I'm at a small local bank and they've been fantastic to work with.  And I guess my rates are nothing to complain about if you've only found higher!

@Jennifer Rysdam I’m also very curious about how to find addresses and/or get someone served.  I’ve only had to do one eviction and when I tried to get a judgement for back rent and damages I was unable to find her to serve the notice for a hearing and therefore was unable to get my judgement.  At least that’s how I understood the process works in Iowa.    Can’t sue them if you can’t find them 🤔

I am wondering if anyone can point me to the document or source that dictates how a tenants personal property is to be handled after an eviction or abandonment in the state of Iowa.  

I have read the Landlord Tenant law section from the state website but other than a confusing section about bailment on page 14 I cannot seem to find the law on this subject.  

My lease currently states, as I’ve seen others so in our area, that abandoned personal property will be stored for 30 days and than disposed of at landlords discretion.  But I’m wanting to know if that’s even required.  

$6000 cash for a one bed one bath home on a huge lot.  

Spent about $15k and 2 months renovating...well, actually more like rebuilding the whole dang thing.  When we went to put on the roof we discovered the walls were about ready to fall over.  Fun project, learned a lot.  

It’s currently rented for $550/mo.  Haven’t financed it yet, waiting to see if we actually need the cash for a deal yet.  So far haven’t needed to tap the equity.  Nice to have in my back pocket if needed.  

Cheapest Flip: $19k, spent about $30k renovating, sold for approx $80k.  Took 8 weeks.

I would check out your local laws to make sure you aren't violating any by charging a fee for smoking in violation of the lease.  It may be perfectly legal, but I'd want to be sure.  

I have caught a tenant smoking in a house before (they said it was too cold out.  Ugh.  Buy a coat!) and I was advised to send a Notice to Cure.  Basically, they had to correct the violation (stop smoking indoors) and if it happened again I could evict without notice.

We do not allow smoking indoors, by the tenants or any of their guests, outdoors only and must use proper disposal containers.  Its in the lease, and I always make a point to specifically cover that point.  I hadn't thought about vaping...I need to add verbage for that for sure!

I bought a house once where the lady had smoked for 10 (20?) years.  The smell wasn't the worst...absolutely every surface had a sticky yellow film on it.  Took me 12 coats of about 4 different products to paint the kitchen ceiling.  Yuck.

Hello!  We’re in SE Iowa.  Lived and invested here for about 3 years now

So you were having work done in the kitchen and the plumber was using the shutoff valves for the kitchen sink in order to remove the sink for the counter top install?  Is that right?  and that’s when the pipes in the wall broke?

Ok, so I’m not a plumber or a lawyer BUT I’ve done plenty of rehabbing and fixing...isn’t it perfectly acceptable to use the shut off valves at the source and not shut off water to the whole unit?  I mean, that’s what they are there for, to isolate fixtures for repairs, etc.  

devils advocate here...I’d still be mad, but just maybe it wasn’t the plumbers fault?

I can’t imagine that there is a law about this but than again, I’ve heard of weirder things!

I have lived all over the country and almost everywhere I have had or have seen  living rooms without ceiling fixtures.  It’s pretty standard from a design perspective, so I can’t imagine it’s a code issue or an ordinance.  

But that’s just my guess.  Where are you located?  Do you have local regulations regarding rentals?

I would definitely raise it.  But as others have mentioned, Be sure to check local laws.  There may be laws about honoring the existing lease, how to properly give notice, and sometimes there are limits on how much you can raise the rent at one time.  

Food for thought:  the $5000 you are expecting to spend on repairs, are they needed maintenance items or more cosmetic type improvements?  You said the tenant has lived there for 13 years, so my first thought is don’t bother with anything cosmetic until she moves out, THAN go nuts with cleaning up the place.  If it’s necessary items like roofing, safety hazards, etc that’s different.  

I’m not saying this as someone who rents out crummy places and doesn’t care...  I take pride in owning nice, solid, clean rentals.  But my thoughts went that direction when you said how long she’d been there.  Especially if the rent isn’t going to be going up...