All Forum Posts by: Deborah Burian

@David Rundle - you could grow old and die waiting for the state of Oklahoma to clarify a complex federal law. We're all going to have to wait for the first lawsuit(s) and see how the courts respond.

Welcome from another Okie investor! This is a great place to learn.

Thanks for all the feedback. I'm going to leave it vacant and take a shot at selling it privately. The holding cost is very small so worth a shot.

So much information here I barely know where to start. Thank you all again for the terrific feedback. House number one I took off the market with the intent of selling it. House number two is rented and although my husband did that open house, I think they saw it on Zillow and Craigslist both so it's a tie :-). Sorry to be so long in responding, was out of town and trying hard to separate business and pleasure, so I peeked at the emails but didn't sign on to BP, lol.

@Robert Carl - school season around here doesn't seem to matter much. Sometimes a slight slow down right at Christmas. Thanks for the tip on hotpads, I'm adding it to my to-do list.

@Shaun Reilly - oh wow, if the HTML will put the photos on Craisglist, I'm sold. What a pain the photo upload can be!

@Account Closed - we gave a lot of thought to the phone vs email vs both when we first started many years ago. Email as an initial screener saves my sanity... much much more general craziness on the phone. I'm certain every market varies but we don't have any trouble getting homes rented as a rule.

@Jeff Bridges - thanks for the tip on Rentlinx - another tool for the toolbox!

@Joe L. - Boy did we ever struggle with the application fee question. For years we didn't charge one, then as the market grew tighter and tighter, we were getting a large number of applications and the cost of screening was just going up. In the end, we began charging 1/2 of actual cost. Serious applicants don't seem to mind, crazy apps are way down. If we look at an app and can see someone isn't income qualified, we give them back their app and their money.

The other interesting thing I noticed in all the feedback is how many people plan for a weekly or similar renewal... if we haven't found a tenant in a week, we're having a problem. I think I'll count my blessings.

So... I'm thinking of selling a two-bed to upgrade to a three-bed or even pay down a line of credit and try some of the crazy stuff all y'all keep talking about on the blog posts...

The house is turnkey and ready to rent... is it better to place a tenant or leave it vacant and let the buyer suit herself? It's a rent house through and through and unlikely, I think, to get much traction as a private home, although if I go the agent route I definitely would leave vacant.

I would love to hear the opinions on this.

Thanks in advance.

Ditto to @Jennifer A. - plus, if you allow one lease violation to continue after you know it is happening, you've effectively invalidated your lease...plus, you want deceitful tenants? Drug dealers pay their rent too... I could go on...

Another possible approach - as politely and in as chilly a tone as you can manage... "sounds like this property isn't a match for you, have a nice day."

@Rick Baggenstoss, @Andrea M., and @Shaun Reilly - how are you getting away with multiple Craigslist postings? The few times I've tried it I've been flagged almost immediately...

@Chris K. - time of year is not a big issue in our mild climate. It's busier just before school starts (thought we were going to have a mugging at our August open house) but we'll get a steady stream of qualified candidates year round. We've placed people right at Christmas on a 'home for the holidays' ad. But, and this may affect our traffic, we're a solid blue-collar neighborhood outfit. Nothing slummy, nothing grand.

Also - would anyone like to clarify the 'html' to Craiglist from Zillow? I know what html is and I can cut and paste with the best of 'em but it seemed like I was re-entering all the info anyway.

@Elizabeth Colegrove - as it turned out, we got a ton of calls/emails and they were a mix from Zillow and Craigslist. I opened a Postlet account but there is some kind of issue with verifying my phone and they have not yet responded to my request for assistance.

We showed the original property and a second one by open house on Sunday. The second property is likely rented, subject to clearing waivers (screening). The initial property is not rented. I have an applicant but they are section 8 and their income doesn't qualify for the rent... we're not going to reduce the rent for section 8.

I have pulled all the ads pending further decisions about the disposition of the property. Anyone want to buy a sweet little two-bed cottage?

Leaving aside privacy issues, which as many have noted, are easily discovered... the separate P.O. box creates a clear division of the company from your personal life - highly desirable both from an LLC and from an IRS perspective.