All Forum Posts by: David Stone

I would give her the minimum required notice and hope for the best. Doesn't section 8 cover damage caused by the tenant?  I've never accepted section 8 but I've been told by their case workers that any damage caused by the tenant would be covered... 

Don't do the work yourself, especially if you don't know how to. Find your deals that will work with renovation costs ALL done by contractors, if you have a skill and can save some money here and there, then by all means put a bit of that to work but there are too many rehabs that fail because the buyer got too far over their heads with the project and many of these thought they could do every aspect of the rehab themselves... leave that to the professionals, just make sure the numbers support the amount these professionals cost :)

 If I had tenants destroying dishwashers time after time I would remove them too.  We have had tenants with pets destroy carpet consistently due to pet urine, therefore we no longer put carpet in our rentals and that has helped keep more money in our pocket! 

I'm just going through this for the first time (accepting an applicant with a co-signer).  Primary applicant is accepting a position with the city fire department but the offer is conditional. He has finished schooling for paramedic and has maintained a job in the same field.  Their parents will be co-signing.  I am having them fill out an application which will include the application fee, background check and credit check.  They will be listed as a tenant on the lease along with the other two applicants.

As far as renting to someone sight unseen, I've moved out of state and relied on renting the unit unseen.  We are also renting to this couple unseen, although I got to meet the parents who did a walk thru prior to the application.  Based off phone conversations, social media, and judge of character, I believe I will have no problem.  There is additional risk on both sides.  I think you have to trust your gut and take even more caution when any red flag is presented.  You might also consider (if allowed in your arwa) charging additional security deposit.

 I've only had one semi-destroyed in the last 6 years of renting in multiple properties, we are low income compared to many areas surrounding but I am also super selective with who I put in my rentals. 

High end or low end rental, if there's room put one in.  For a rehab fix and sell, definitely put one in - make the room :)

rent your home, purchase the duplex owner occupied, now you have 3 units! :)

Look into house hacking, you can get into a 2-4 unit FHA 3.5% down, live in one unit and rent out the other. In 1 year, you can move out and rent out your unit.

@Carrie K. Run a tenant screen online(rentprep, etc) that gives you background and eviction search

@James Kirby what we do is rank multiple applications and process the best, most qualified application first. If we select that tenant, the remaining untouched applications get refunded in full and we’re unprocessed. If anywhere in our due diligence period we find a reason to deny an applicant, their application fee is not refundable. We charge $45 per adult applicant and have no problems getting multiple applications but this may be lower depending on demand in your area’s demand. Research what other landlords or apartments are charging in your area and keep it about the same if possible.