All Forum Posts by: Chad C.

@Thomas S. “Will be a wash” @Thomas S. I don’t get this sentiment, but everyone says it. I make 600 for a home and 300 lot rent. How am I going to make 7000 in repairs each year?

I have a inherited tenant that has been paying on time, but has given me fits avout clraning up his yard and loose dogs. I was so relived that he told me he was leaving! I may have pushed him out, and hope I don’t regret it. There will be a lot of repairs but it was a little under market. Anyone regret pushing out a tenant?

@Robert Evans Modad 2500 Electrical 1500 Your electrical co might charge 700 for pole Clearing 5-10K AN ACRE? Gravel 400-800 oNE FOR PaRKING PAD, ONE FOR rOAD PER LOT Permits 60? 500 fOR DIRT PAD MY CAPS ACT UP ON MOBILE APP SoMETIMES. GOOD LUCk GETTING SoMEONE TO MOVE THEIR HOME TO YOUR LOT

I Have a tenant that has a broken AC. I had a capacitor fixed a few weeks ago within hours of the notice, it was Saturday at 3. They called again tonight at 7 and said it was out again. My guy said he could be out tomorrow afternoon to fix. I offered that they could go buy a window unit, and take it out the rent, but they said they didn’t have the $100 to buy one. I feel bad, and I told them to hang tight and use some fans till tomorrow. It is dangerously hot out there, and is a liability. I could of personally went and bought a window unit and installed it, but that’s not the type of scalable business I want to run, I know it’s not what high effeciency landlords do. We did find a neighboring AC guy to come look at it tonight for $85, but I’m thinking that one hour AC type places charges $200-300 for after hours calls? Maybe in the future I’ll have them preemptively buy a window unit for just this case. Any fellow landlords have advice?

@Chinmay J. Some states require a grace period, but I see my state does not, I also see that I can not take late fees out of rent, and I can not charge late fees for previous late fees, or unpaid previous balances, both of which I have been doing. @Dennis M. I like that Idea

@Aaron Klatt Thanks, my concern is that a judge would Interpret the grace period term different than me and have a problem with late fees charged on the wrong day. I would Imagine It would be specific to the lease.

Does your 5 day grace period start on the first, and fee applied on the 6th, or start on the 2nd, and late fee applied on 7th? seems like it would be the latter, but I have been applying it on the 6th, not sure.

@Ashley Swansend How could it be any better? The utilities are worth 6-7k

I do it like a visiting person, if that person or animal is there for more than 14 consecutive or non-consecutive days out of the year, they must be a registered occupant. And if it's up to you, maybe it's OK they have a second dog, but they have to pay the second dog fee, and have to have proof that it spayed or neutered.

I had insurance agent make the point that if you ever get sued and everything is not separated they can say that you were not acting as a separate entity, and they are more likely to be able to sue you for your personal assets.