All Forum Posts by: Colleen F.

As long as there is no draft the tenants don't care. Keep the money in your pocket.

(I have even talked to some tenants lately that don't know that the old wood windows need to lead compliant).

@Rio Tomlin might be a little too wild west for Brooklyn. Did the electric company really say they would move the wires if they belong to the cable or phone company? I have consistently been told if they are not their wires you have to call whatever other company they belong to and they take care of them. Trace them if you cani f they are cable it isn't an essential service....electric that's a different story. you would not want to interrupt if there are tenants in the building.

I read that statement as well but disagree we never take checks, sign the lease, and hand over keys. For our student rentals they leave the deposit and sign the lease months before the rental starts. For regular rental most people are planning a month or more ahead. For your rental I would get the lease and deposit. You want to be sure if you have to rent to someone else you have time to show it and get that renter. No one is committed without the signed agreement and deposit. And of course get the first months rent before move in. If there is a lag in when they are going to take possession we would have deposit and signed lease and then get first months rent a month prior.

@Account Closed whether tenants have bank account really has a lot to do with how much reserve funds they have or where they are from. Our tenants all write checks. Maybe 1 or 2 students in my experience delivered their rent in cash. They did not have any reserves. The other group I have found that don't have bank accounts are the "old country" folks. They came from somewhere with unstable banks or were challenged by a negative bank experience. If they have reserved they are under the mattress or something similar.

You make a choice on the type of properties you rent and with that usually goes a predominant payment type. I choose not to buy rentals where I have to pick up my rent in cash. I knew when I bought by properties where those were and avoided them. I will hazard a guess if you insisted no cash those would be money order properties. Most of my current tenants have some reserves and pay by check. Last I knew money orders cost more then checks so not having a bank account costs a bit for each money order. You can get a free checking account with like $100.00 these days so no bank account must mean something.

@Andres Piedra I would ask where the money came from. If its plausible and he qualifies otherwise check the laws to be sure you can do it. Yes it could be a red flag but it doesn't have to be. Also consider what the late rent landlord has to say on other topics like how he left the place. If you get the money upfront the tenants respect of property and other tenants would be my next big concern.

This is a good to know point that the underwriters would be looking at the ads for rentals. although linking that to your application is unexpected. I do from time to time look to see if our student tenants are advertising to sublet. Sometimes you see an ad that looks like your property. Let us know how you make out. there is so much to learn from this although I think it is a costly time and money lesson for you.

Try calling the neighbor yourself. You might also look into a tree company recommendation on the stuff hanging over your property as that is the biggest risk to your tenants and most likely to cause personal injury. It is possible they could get the branches down without leaning a ladder against it depending on accessibility. Dead trees are more expensive to cut at least according to a tree trimmer friend of mine so it gets pricier if you wait longer.

We have just had a similar problem with squirrels and I thought squirrels lived in trees! Don't close the hole up until you get those babies out or they will die and it will stink like you won't believe. Our squirrels did not have babies but we think one got stuck and couldn't get out.... In any case I left the windows open a lot despite the time of year and the smell is starting to go away.. Mostly though it is not trapping it is closing the openings effectively so they don't get in. Oh they told me even animals like to sleep so lights and sound help keep them from nesting.

I agree you will see a cost difference between a free standing stove and a drop in or separate setup, the freestanding is way cheaper. If your price point demands it then you need to do it, if not don't unless your cost including rewiring is comparable. You won't recoup the cost but it may be a selling feature. One difference people do really care about is a gas cooktop if natural gas is available in your area. You can sometimes pickup a second hand stove but in our area you need time to find one. Used appliances tend to be offered more in the lower end at least around here.

While it is a problem for you it is probably better to just give the deposit back if you don't have anything signed. Legally your lawyer may be right I don't know but who profits from fighting it? , it is just going to cost you more. Mail them a check. It is a few days and wasted energy and you may have lost a better tenant because of it but do you want to invest any more energy into this? I have basically just started saying to potential tenants that it is not rented until they are approved, deposit , first month and signed lease. For most people the practice of keys and cash/signing at the same time doesn't work. You want to stop showing if its rented and sometimes there is time between finding someone and the rental start date. I wouldn't wait to the rental start date to sign the lease and if someone signed the lease, deposited and backed out weeks later that to me would justify to keep the deposit (if the legal folks agreed)

In any case I just had a similar back out but they were quite nice when they did it and I did understand the situation. I think that makes it easier. This person being threatening may make you react, step back and think is it worth it?.

One step is to ask the tenants who they get service from, that was how I identified who managed some of my lines.

But Good luck getting them there. I have a bunch of Cox cable wires on my building and I just called them again and said please can you clean them up and put them back in their boxes they are hanging off the building. The first call was we'll be there (two months ago). Electric was way easier.

@Troy Sheets I thought about doing just what you suggested but my tenants might become a little unhappy. It is one sure way to find out though..