All Forum Posts by: Dylan B.

@Ashley Bartlett, Exactly what @Andrew B. said.

@Beau Pearson 

Her deposit is meant for unpaid rents and any damages the tenant has caused during her stay.  I would not apply her security deposit as prorated rent as she could have caused more damages than what her deposit is.  Make her pay the prorated rent then once she has moved out and you have assessed the damages then you can return whatever amount of the deposit to her... if any.  

@William S., 

@Ned J. raises some really good questions. I personally would start looking for a new property manager/leasing agent, regardless of the time of year, a property shouldn't sit vacant for 4+ months. I honestly wouldn't sell if you are getting a good ROI. Go interview a few new PM companies for this property.

@Sam L.

Although I do agree with what Brad and James had to say I would also like to add in that I think it is a generational thing on if they leave a voicemail.  Older generations typically are more apt to leave a voicemail than younger generations. 

Could it be a waist of time to call them back... possibly but who knows, could be a good long term tenant. 

Check out @Alex Hickman for real estate agent he is based out of Edmond/OKC area. 

@Eric Hrlbock 

There are several move out itemized lists with charges in the file place here on biggerpockets that you can download. 

Jim brings up a good point if you had them fill out a move in condition statement... 

Also In my leases I state that smoking is not permitted. Here is an excerpt from the smoking clause of my leases, "Tenant shall not, and shall not permit any resident or guest to smoke within the house located on the Property. Tenant will be charged for all damages to the Property caused by smoke, including cleaning fees, carpet cleaning, and re-painting if reasonably necessary to remediate smoke odor."

Listen to Podcast 109, it has some insightful info on asset protection and how to set up your business.  I would also consult with an attorney.  

@Rahul Sunkavalli

Read Brandon Turner's book on managing rental properties. 

@Jordan Moorhead  I have both low income/less desirable area and higher income/more desirable area rental and I will say this, both have their pros and cons.  From my experience in my area, I have noticed that low income make more cash flow but you do spend more of your time and money on them.  In the higher income areas, they tend to always pay on time and they seem to take care of the place more and are willing to sign longer leases.  I also don't have to put much into repairs however there is less cash flow.  

I really think it is a personal preference on what strategy you want to stick with or diversify into both.  Personally I will buy more higher income rentals in the future than low income just because of the work involved. 

Congrats on your new purchase btw!

@Liz C. It sounds like she had a rough past in making her payments, however like many have mentioned, that was in the past and based on the info you provided, she is doing better and paying on time now.  You need to have a set criteria and stick to it when accepting tenants, whatever that may be. 

I would definitely call current and previous landlords for references, those will be your best indicator if she is a good renter or not.  (Just make sure it is for sure a previous or current landlord and not some friend trying to put in a good word for her.)