All Forum Posts by: Richard F.

Apparently there are no actual Attorneys on these forums willing to provide useful insight, or better illustrate how these apparent conflicts of legal principles apply...or do not apply?

Aloha,

They likely do not even have General Commercial Liability insurance. They probably sub-contract and the Driver's have their own auto insurance on their vehicle. You would not hire a yard service if they did not have coverage for damage/injury from a normal piece of yard maintenance equipment. All "rotating" equipment is very dangerous, and generally it is unlawful for underage persons to operate (for pay) for that reason.

Quote from @Wesley Perry:

My property just got approved to get new roof. What's best practice with informing my tenant besides, "Heads up the property is getting a new roof." ? 

Am I just overthinking this? 

 Aloha,

What would YOU want to know if someone was replacing your roof? WHO will be the company that is performing the job? WHAT will they be doing- entire roof tear off and replace, or minor repairs? WHEN- dates of expected project "dependent on weather", with updates the week OF the work, and a daily time frame. WHERE- specific unit, or entire structure? HOW- what precautions does Tenant need to take, removing vehicles from driveway for access/dumpster; removing personal property from perimeter of house to prevent damage; keep kids/pets/onlookers OUT of active work area at all times to prevent injuries.

You also need to be clear with your licensed and insured contractor about cleanup after the job. You do not want your Tenant whining about flat tires because the roofer left nails everywhere.

You really need a standardized template for Tenant communications. Be consistent and thorough. Include the potential for a cost to the Tenant if they fail to meet the schedule or properly prepare and cause a delay for the contractor.

Quote from @Rehj Hoeffner:

I would never recommend a 4 year, not even a 2 year lease moving forward.  

Wow - no one likes long leases!  Do you realize the chances of anyone staying that long?  Almost nil. 

Aloha,

That is purely rubbish. I've been managing over 120 units for at least the past 20 years, and my AVERAGE turnover has been over three years the entire time. I currently have Tenants that I placed over 10 years ago. In all of those years, I have only offered a multi-year term twice...and both times were at the insistence of the property Owner.

Offer a fully functional, safe, secure, clean, and relatively attractive property at a fair price, with reasonable terms, and most importantly, properly screen all applicants. Address service calls promptly and with minimum contact. Moving is a PITA, no one "chooses" to do so if they are reasonably satisfied and stable. Sure, a job or other life change can create a reason to move, nothing can be done about that.

Aloha,

Section 8 of Part B of the HAP contract, which addresses this, can be found here:

https://www.hud.gov/program_offices/public_indian_housing/pr...

Short answer, NO, unless approved by housing.

Aloha,

It can be a tough way to start, but if you are very knowledgeable, construction-wise;  able to be very "hands on"; and have the stones for it, I've seen several investors in the midwest build a huge empire on low quality properties and all that they attract. In particular, if your area has a LOT of vacant units for sale cheap, buy up a block at a time (or 25 - 50 unit properties) and force an increase in the values, turning the neighborhood around to an extent. Just keep in mind you want to attract and keep the top 10% of the available tenant pool for the price point. Also remember, even in these areas, there are more good Tenants than Bad, so don't waste your time on the Bad ones. You MUST run a tight ship...be business-like, but very firm, and always fair. Clear House rules, consistently enforced; routine periodic inspections; monitoring vehicles for current tags and insurance; and an easy to use camera system to monitor and document common areas 24/7 are a necessity.

If, on the other hand, you have very little knowledge/experience with maintenance and repairs; or want to rely on a PM "app", and a "team" yet to be assembled...probably not a good idea at all.

I'm not piling on the OP here, but just in general. People- it is called a "contract". Two parties agree to perform specific elements. It does not matter if you are talking about a Rental Agreement, a Management Agreement, a Purchase Offer, Auto finance contracts, Contractor contracts, Employment contracts, or any other agreement that contains the required elements of offer, acceptance, consideration, intention to create legal relations, authority and capacity, and certainty. BOTH parties are lawfully bound to perform per the terms. There is no "walking away" without consequences. READ YOUR CONTRACTS BEFORE SIGNING. If you do not understand, seek professional guidance. This applies to BOTH parties!

It is my personal belief that our schools are failing us terribly. Contract law basics NEED to be taught in high school, along with personal finance and retirement planning. Plant the seeds!

Aloha,

I would just add to @Wayne, the LL MUST make a "good faith" effort to re-rent the unit at the same terms as you were under. Of course this also assumes you left it in "move in" condition.

Aloha,

Do not delay! Provide proper written notice to the Tenant AND to Section 8 initiating the eviction process per local law, and be sure to include the late fee charges per your Rental Agreement.

Do not waste another moment "talking" with them, or writing to other family members. They are playing you like a fiddle. Did you properly screen ALL of the adults? Are ALL of those people NAMED on the Section 8 HAP Contract? Do you plan to sit around and wait for them to apply for more assistance, knowing the time it takes to see the first dime? Act now, or regret it later.

Aloha,

It sounds like you live in the house, so, if you own four or fewer rentals, and are not a RE Agent or using a RE Agent to place Tenants, the "Mrs. Murphy" exception exempts you from Fair Housing in most states.  google  I.C. § 67-5910