All Forum Posts by: Christen G.
Christen G. has started 46 posts and replied 375 times.
Post: Best Property Management Software for a new Landlord?

- Rental Property Investor
- Seattle, WA
- Posts 378
- Votes 247
Congrats! Hang around these forums a bit and keep reading/learning what others are doing to systematize and what current best products/practices are, there's a wealth of information here. I think BP also offers current state by state leases, too. I use Apartments.com for management, listings, screenings and for the tenant maintenance portal. It's straight forward and intuitive and it gets it done. I doubt you'll need something more comprehensive for 2 units. I think they offer leases, but Ive never used theirs. Best of luck.
Post: Rental Management: Increasing Rent

- Rental Property Investor
- Seattle, WA
- Posts 378
- Votes 247
If they're good tenants and you want to keep them, then do that.
But first know the legalities of raising rent in your city. Then thank them for being good tenants, know/determine the market rent and if they are under that number, tell them you'd like to continue to offer them tenancy at a modest 2% increase. If having a bong is breaking a term in their lease and you'd like to push that issue, that's on you - weed doenst bother me. Her maybe not living there could be a red flag - but again, if they're good tenants - do you want to push it? Perhaps when you re-lease you can ask for names of all of the adults who will be living in the house and on the lease. Keep good communication with them and hope they stay taking care of the place for a long time. Good luck!
Post: Tenant always pays, just never on time

- Rental Property Investor
- Seattle, WA
- Posts 378
- Votes 247
@Vincent Plant start eviction/notices and not Rene their lease.
Post: Tenant Responsibility or Wear & Tear?

- Rental Property Investor
- Seattle, WA
- Posts 378
- Votes 247
Quote from @Brian Kantor:
I'm going to have to go with @Bill B. and his POV here, unfortunately.
Tenant's will never treat a property as if it's their own, because it isn't. Even if it truly is their fault, for one this is tough to prove and two, it's unfortunately on you to ensure your rental is resistant to excessive wear and tear. Water spillage is common in a property and it should be up to you to reinforce the bathroom to ensure that isn't an issue.
I think you need to "eat this", and when you have it fixed, use a quality vendor who can repair it in a way to keep this from happening again.
I agree with this completely. And I'd add that you need to clock that these tenants are hard on the property. It's ok to let them know: technically this is your responsibility and your fault - same as the TP holder, etc... I'll handle this now - take photos of EVERYTHING when you go in to fix it and put this all in their tenant file. From here, make sure your annual inspections are routine and regular. This could have been much worse.
Post: Proper way to send notice to pay or quit

- Rental Property Investor
- Seattle, WA
- Posts 378
- Votes 247
The proper way is to get an attorney involved from the start.
Post: Rookie Landlord-1st time tenant Turnover how to handle

- Rental Property Investor
- Seattle, WA
- Posts 378
- Votes 247
You need to consult your local laws to see what the legal amount of time is and decide for yourself if that's "reasonable." Where I live it used to be 30 days - and I didn't think that was enough time for folks living month to month to pull funds together to save up, look for a place, get a deposit and 1st mo's together etc... so I always gave at least 60. Again - you need to consult (and know) your local laws very well if you want to be a successful, scrupulous property owner.
Post: Broken stove door who is responsible for fixing??

- Rental Property Investor
- Seattle, WA
- Posts 378
- Votes 247
Are you my tenant? Lol - this LITERALLY just happened to me and instead of calling me the tenant tried to screw it back on with a bigger, longer screw - sending that screw through the front of the stove and creating a stabbing hazard. This was caught in my winter inspection.
I'm sorry this happened. This is not normal wear and tear. This is their negligence.
Post: When/where did you last pay rent - and how much was it?

- Rental Property Investor
- Seattle, WA
- Posts 378
- Votes 247
I thought this would be a fun exercise. I'll start: it was Seattle, Wa 2014 and it was $980 (flat, no utilities) for a 900sqft 1 bedroom in a desirable, hip neighborhood. Current rents in that building are now $1,500.
Post: 25 unit Multifamily Chattanooga

- Rental Property Investor
- Seattle, WA
- Posts 378
- Votes 247
Quote from @Vessi Kapoulian:
This is not ideal but not unusual if you are dealing with a mom and pop operator.
Re rent roll, obtain copies of the executed leases and validate collection via bank statements and tax returns.
Re expenses, the tax return will have at least some info. Regardless, you will likely be adjusting the expense base to reflect the tax reassessment (which you can obtain from the local county), insurance (from your insurance broker quote), property management fee, and usual repair/maintenance expenses/admin/advertising/contract services/utilities. If you (vs tenant) is paying for utilities, you can request to see the last 12 months of utility bills. If they have maintenance contracts (landscape, pest, etc.), you can request a copy of those. The bank statements will also show these expenses, so you can validate. Validate the expenses by your PM too.
If they decline to share, that is a red flag which would warrant walking away or at a minimum substantially reducing the price instead and basing the offer on your own numbers validated by third parties.
this right here. no notes.
Post: Do I need an inspection report if Im buying a fixer upper from a wholesaler?

- Rental Property Investor
- Seattle, WA
- Posts 378
- Votes 247
I agree with @Evan Polaski - this really comes from your comfort level with your own ability to assess renovations - I'd add that it depends on your budget, too. In general, one will certainly help dial-in a more accurate budget.