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All Forum Posts by: Mike Franco

Mike Franco has started 41 posts and replied 547 times.

Post: Easy to Collect rent?

Mike FrancoPosted
  • Los Angeles, CA
  • Posts 555
  • Votes 261
Originally posted by Jon K.:

I don't remind them. I'm not their babysitter.

All of my credit cards, phone carriers, utilities, etc etc babysit me every month.

Rent is no different.

Post: Upgrades by tenant?

Mike FrancoPosted
  • Los Angeles, CA
  • Posts 555
  • Votes 261
Originally posted by Jon K.:

- Perhaps some concerns about tenants putting money into the property and somehow getting some vested interest in the property..

That would be my only concern, and I would consult an attorney about it.

If all is well, I would have the tenant sign an agreement stating that landlord is not responsible for cost of upgrade, nor will reimbursement be given in any form. Verbally remind tenant that any future delinquent payments will not be shown leniency.

In california, we have a thing called a Notice of Nonresponsibility, where if a tenant orders upgrades and doesn't pay for them, filing a notice of nonresponsibility would protect the landlord against MECHANICS LIENS. You file it at the county recorder's office, and post a notice at the rental dwelling.
I don't know if PA has something similar.

So basically, your biggest fear is a legal one, but you can protect yourself.

Granite is very hard to mess up. I would not worry about workmanship. It's a rectangular slab that fits on top of rectangular cabinets. You really can't mess it up.

Granite is also custom fit, so it becomes a fixture. I think most states agree that tenants can't take the granite with them when they move out.
Besides, how are they going to restore the old countertop ?

Post: Easy to Collect rent?

Mike FrancoPosted
  • Los Angeles, CA
  • Posts 555
  • Votes 261

I text message 2 days before rent is due and make them go to the bank to deposit money. That way they can never give me a BS excuse like "I mailed it already".

If the yard looks good, with nothing dying, I would give him market rate or less. You would need to find out what market rate is by getting a few estimates.

And of course, next time don't make any offers or promises.

I would allow it, at their expense, since it is not a necessity.

Alarm system installation usually doesn't screw with anything. Just a bunch of wires. I had one installed when I built my house. It's nothing.

Post: Do Landlords Have Neighborhood Obligations

Mike FrancoPosted
  • Los Angeles, CA
  • Posts 555
  • Votes 261

The only obligation I feel I have is keeping up with the status quo.

If all the other houses on the block are nicely maintained, I can't keep mine like a section 8 house. The lawn should be mowed at least.

Post: Security deposit deductions for smoking

Mike FrancoPosted
  • Los Angeles, CA
  • Posts 555
  • Votes 261

I would deduct whatever it costs to restore the dwelling back to original condition. You do the math.

How much was the security deposit?

I collect a hefty deposit and use it as leverage to keep tenants in check. My lease emphasizes that smoking inside is considered excessive wear and tear. I also repeat it verbally when we are going over the lease together.
My last tenant was obedient and smoked outside all the time, but mainly because he was worried I'd take his whole deposit, which was close to $3000.

If there is no law prohibiting discrimination against smokers, then you should be allowed to collect more than usual for security deposit.

Post: Neutral Paint Colors for Rental Properties

Mike FrancoPosted
  • Los Angeles, CA
  • Posts 555
  • Votes 261

Please put some color on the exterior. It's a see of beige out there.
And since you are not selling the property, you are free to use some color. Renters don't really care, but they will probably remember a house with color, rather than drab tan.

Maybe use a muted green or blue. What colors are the other houses on the block?

Maybe you can post a picture of the exterior.

Post: Charging tenants deductible for repairs.

Mike FrancoPosted
  • Los Angeles, CA
  • Posts 555
  • Votes 261

The only thing I put in my lease is that tenant is responsible for plumbing clogs and stuff they caused.
That is reasonable, and if they want to continue to use the toilet, they will find their own plumber, unless they want to dig a hole in the yard and crap in it.

I don't specifically put anything else in the contract. It's understood that if they break it, they buy it. But if there's something major, they call me, no matter whose fault.

Post: Rent Collection - No Bank Account

Mike FrancoPosted
  • Los Angeles, CA
  • Posts 555
  • Votes 261

Forget about the atm card. Since they have to go to the bank anyway, just give them deposit slips.

Bank of America has savings accounts for no fee with little hassle.
https://www.bankofamerica.com/deposits/savings/regular-savings-account.go