All Forum Posts by: Prashant P.

Instead of the renter being proactive it is better for the landlord to be proactive.

Change furnace filters.
Have drains cleaned.
Extermination services.

This will allow you to go inside and inspect your unit periodically

You may want to get a contractor to check the floor joists and main house supports. A settling foundation can also cause the floor to bow. A contractor or inspector can tell you the problem.

You can use a backer board or rubber membrane but that will only mask the problem. Also consider putting in ceramic. It looks better and more buyers will appreciate it.

Take in to consideration the type of tenant she is. If she is a long term tenant that pays her rent on time and no other issues, replacing the carpet can help maintain that relationship.

You may also take into consideration if she is telling the truth. If there water leak and the carpet was not correctly dried you may have mold under there that can spread.

I had a tenat that was great on paper but an idiot in person. I asked her to mail the first months rent check to me. Well when she mailed her check she put her name and address in the recipents spot and my name and address in the senders spot.

When I checked my PO box, guess what no check. I waited for about two weeks and finally her sister called and said her sister was a idiot and mailed the rent to herself and not by mistake.

I think condos are a good investment for longer term buy and hold investments. You have to look at each condo complex and see the positive and negatives. Also factor in the market.

It is just like any other investment. People are going to like them and others won't touch them.

Maybe if the renter is willing, you could do a rent to own and unload the property in a couple years.

I have to disagree with some of the other posters. You have to look at a condo like any other investment and run the numbers. Just make sure to factor in the HOA fees. Also, look around on Craigslist or other sites to see what other condos are renting for in the community.

You want to be sure that you also add in about 3% to 5% every year just to account for HOA dues increase or an assesment.

As far as inspections go, you have to read the language in your purchase agreement. Alot for Fannie/Freddie homes say that you can get an inspection but it is for your own knowledge. Once you sign on the line, you are locked in.

If you are going through auction.com, you may be waiting a while. In my expierence they are very slow and unresponsive. I would try to contact Nationstar directly.

You should also check your lease in the pets section. Many landlords say that you must inform them before bringing in another pet.

To me it sounds like HOA issue. However, you may want to check your HOA contract to see who is responsible.

If the contact is not helpful, you may need to contact an HOA board member.