All Forum Posts by: Richard F.

Aloha,

You gain access when they turn over possession to you. If they return all your keys and provide their new address, just get a handwritten note or an email confirming they turned possession back to you. They are still responsible for however many days rent per contract or local law based on the date of their original written notice of vacating. If they are past the mandatory period, you pro-rate rent for the extra days they had possession. On the other hand, if you get it re-rented prior to the end of that mandatory period, you cannot double dip...you must pro-rate the outgoing and the incoming based on start of incoming term.

Aloha,

It doesn't matter too much what the 2 BR is currently rented for; what matters is current market rates for 3 BR's. Check comparables by size, finish, location, to see what the market is today. You did not indicate where this is located, so impossible to get localized guesstimates.

Aloha,

You are just asking for headaches...or are you planning to run a charity? You need to "non-renew" him as soon as local law allows (you do not indicate where this is), clean the place out, freshen it up, then advertise and properly screen for new Tenants at market rates. Bugs can be difficult to get out...completely. It is easier and cheaper to get him out now, before he ALSO owes back rent!

Aloha,

No, the Security Deposit is not generally requested until you have approved an application, typically within a specific, stated time period of 2 - 5 days depending on local market. Even then, prospects will sometimes change their mind for a variety of reasons. Unless you have them sign a deposit and hold agreement at the time of accepting their deposit, they can still walk, and you probably will need to return their deposit.

Aloha,

@JD Martin gave a pretty good rundown on the types of pipes, and generally what to look for. I would add that both the cast iron waste, and the galvanized supply lines are much more troublesome than later materials (so far), so if your unit was built pre-1985, you are at 38 years and certainly due to repipe everything. Why? ANY leaks/slow seepage has/will cause significant damage and attract carpenter ants or termites depending on locale. Repairing the damage if it goes unseen, or simply ignored for a couple years, will be an expensive fix in addition to the repipe. This is also why I always preach that annual walk through inspections focus on checking all potential areas for ANY possible small signs of leakage. Water is your #1 enemy as a LL.

It is common on kitchen and bathroom sink waste lines for the threads on the pipe nipple protruding from the wall that your sink drain connects to, would be corroded to the point where the threaded joints actually disintegrate, and water will seep down the inside of the wall. Also, the horizontal cast iron waste line to those sinks will corrode and acquire a buildup of scale on the inside, which will "catch" paper products and debris leading to more frequent clogs. This scaling also leads to splitting of the pipe due to the expansion of the corrosive material. These splits will be hairline cracks initially, with minor, but constant, seepage inside your wall...of waste water.

On the supply side, galvanized pipes also corrode from the inside out, and can also split simply from the corrosion. More often however, they will get a buildup of minerals at restrictions of the line, especially at elbows and T's, and predominately on the hot water lines. This causes notably reduced flow to the hot faucets, especially those closest to the water heater. (Often you can "solve" low flow of a hot water faucet by changing any/all elbows you can access from the water heater to that faucet.)

So, the short answer to your question is...when repair costs due to plumbing leaks and/or blockages start rising notably, or you are observing several signs of hidden leaks.

Once you are past the 25 -30 year mark, you are bound to have more leaks, stoppages, and low flow (as well as prior, poor, repairs). This also applies, to a certain extent, to the various PVC/ABS lines which age, AND; in the past they used schedule 40 for supply lines, now usually schedule 80, which is a heavier gauge and therefore longer lasting. Many times these lines are buried in earth, where shifting, tree roots, and other natural events can more easily cause a leak as they age. Lastly, PEX is prone to be chewed on by rodents.

Waste lines can have their life extended with routine preventative maintenance. If there are trees anywhere nearby, pm becomes more critical, as those roots WILL make their way into your system.

Aloha,

First off, 1 - 3 days "after grace period" most certainly IS late (excluding weekends and holidays). and you should confirm with prior LL that they paid the "late fee".

Second, by offering lower rent to someone with apparently good records, vs. what I am assuming is market rent to the person with poor history AND an elderly, disabled person is exactly what can get you into a Fair Housing violation.

You need to establish your screening criteria, and apply it in the same manner to ALL applicants. X times rent as minimum total household income; credit score or specific issues allowed/rejected; background check; pets/no pets; smoking/non; whatever else you believe to create unacceptable risk.

Aloha,

You are now running a business. Treat it as such. Simply send a formal cover letter stating that "due to increases...blah, blah, blah, we have determined an increase is necessary". Please review the attached (single page) addendum, choose your option, and return to the address below by (Date).

The addendum should reference the name and date of the original agreement; and the parties. You provide two or three options:

1) Effective (Date based on local LL/Tenant law requirements) rent will be X. You will also need to increase your SD to equal the new rent.

2) Tenant is providing X days notice (per local law) that they are vacating.

3) Tenant proposes modification to terms, specifically _____________________.

(Signature, Date)

Aloha,

You are definitely losing out on otherwise perfectly good prospects with your full interrogation before they even view the property. 

Keep in mind, Fair Housing. Limit an initial conversation or questionnaire to no more than 3 to 5 questions:

What is total household gross income?
How many Adults (of local, legal, age...18, 20, 21) ?  (do not ask about children, should not matter at this point)
How soon do you hope to move?
How long have you lived in your current residence, and is it within this (City, Region, State)?
Have you ever been evicted or not renewed, or do you have current Collection items?

Be sure your marketing and your application include whether you have a pets/no pets policy; assistance animal policy; ALL adults must complete application and will be named on the Rental Agreement; utility responsibilities; SD requirement; when and how various funds are due (app fee, SD, initial rent, etc).

Aloha,

It also very much depends on how the various utils are handled in your locale. Some require them to be provided by Owner; others put a lien on the property if Tenant does not pay; and, you need to be sure that any "shared" or common area utils are either separately invoiced to Owner, or, any "splits" are clearly documented with regard to HOW they are split, and agreed to in each Rental Agreement where applicable AND where local law allows it.

Aloha,

You first must find out what local LL/Tenant laws ALLOW you to charge. Then determine if you want to charge less, or not bother with it. Here, we are capped at 8% of the monthly rent amount.