All Forum Posts by: Dena Puliatti

Get an estimate from a licensed contractor.  Add it to his tenant ledger to pay.  Once you have the quote, give him a 30 day notice with a chance to remedy.  If he fails to comply, get him out.  What you are getting in rent is not worth the damages. 

Most of my clients are cool with dogs.  Yes, they will scrape paint on the front and back doors. However, cat spray is a nightmare. Even when you pull the carpet and the pads, you have to paint the baseboards.  Here in Alabama, the heat and humidity bring it straight out of the subfloor.  If the home is on a slab, it will seep into the concrete.  You are looking at a week with an ozone machine.  As you can tell, I'm not a fan. I do $250 for the first pet and $50 for additional pets as a non-refundable pet deposit. Pet rent is $25 per month for the 1st pet and then $10 for each additional pet. I don't allow aquariums because they can bust and cause floor damage. If you want a beta fish in a little bowl or a lizard, I'm cool with it.  No on mice, rats, hamsters, guinea pigs, and chinchillas.  I don't know if you have ever lost a chinchilla, but they will get in a wall, and it's not a good time.  

Even if the original tenants left, then they are still responsible for the payments. I don't deal in co-signers for this very reason.  If the co-signer is not living there, they don't care about the rent being paid.  I would think you evict the remaining tenants, and file a money suit against the original tenants.  Your first case is for possession, and the second case is for a money judgement.  Of course, winning a judgement and getting paid are two different animals.  Check with another attorney on this one.

Definitely run his background, credit, income, etc.  You want to know what you're dealing with if/when they fight and want the locks changed, etc.  Also, please add him as an occupant on the lease, or gem up a new lease that include both of them.

Some of my clients are fans of this model.  What we have found is that buying houses 5-10ish years old is a good play.  No major system breakdowns for another few years.  As far as appreciation is concerned, you definitely want to buy and hold.  Madison County had an average appreciation of 12% in 2020.

@Mora Clark. I'm going to send you a PM.

@Mora Clark New Market is doing quite well for rentals.  I have an investor who bought one very recently, and it was rented in under a day.  I've got more coming in that area.  As far as living outside of the city limits, that's something that some potential tenants look for. I manage several in Harvest, Athens, Toney....outlying areas around Huntsville, and have great success with renting them, some even above market.

Great advice on this one.  Cash for keys works if the tenant will communicate and truly doesn't have the rent.  Make sure everything is in writing, and have the tenant sign off.  Change the locks immediately.  

As far as collecting rent owed, you are really throwing good money after bad.  I have done the collection agency thing, but I've never seen it actually work.  If you want it on the credit report, you can sue for possession and money.  Normally, evictions are just for possession of the property.  After you win that, you can sue for the money.  However, winning a judgment for the money and actually getting the money are 2 very different things...The only gain you would get is basically revenge on the credit report to serve as a warning for future landlords.

I can help you in Huntsville.  Lots of growth happening now.  And we just got news that an Amazon Fulfillment Center is on the way.

The market in Huntsville is extremely competitive.  However, some outlying suburbs may be able to make your numbers work.