All Forum Posts by: Dylan B.

@Rocky Griffin  I have never heard of him but thank you for the info.  Crazy how some people are.  I also don't understand why the news article points out race, has absolutely nothing to do with the article... "Ray Pelfrey, who is white, has more than 100 properties in the Oklahoma City area."

@David Tung

You have to treat it as a business.  Personal feelings aside.  In Oklahoma, a valid lease creates obligations that survive the death of the landlord or tenant, with certain exceptions.  A tenant's estate remains liable for payment of rent if the tenant dies; the landlord's estate remains bound to provide occupancy despite the landlord's death.

If your law is similar/same, they are technically liable to pay rent for the remainder of the lease. 

I definitely would keep their deposit.  Just be upfront with them and explain why you have to keep the deposit.  

@Chris Lynch

Depends on your market. 

In my rentals, I supply fridge, range, and dishwasher. Pretty standard in Oklahoma.

@Tim Porsche

Pros and cons aside, I would rent to her, based on info you listed.

Life happens. I had a very similar tenant 2 years ago and took a shot, best renter I have had and she is still there.

I would not except a years worth of rent upfront though, same point as Thomas stated. 

@Justin Stephens In the future, I would ask the current tenant if it would be okay that you take photos with their furniture/belongings.  As others have stated, make sure you state that the unit comes unfurnished.  Pictures with furniture in the rooms does give potential tenants a good visual of the space.  I have done this before as well.  Congrats on your purchase. 

Hey @Alex Applebee,  I also use Cozy for all my rentals but have never had any of these issues (yet). Knock on wood.  As I was reading your post I was thinking maybe you had the wrong bank info as well.  

The one thing that frustrates me is the time it takes for them to process the payments.  However, I do like how they have added maintenance requests on there. 

Their business does have some areas of improvement.  I have had to contact customer service once before and also disliked how it was only through email, regardless of the issue they resolved for me.  Personally I would rather talk to someone via phone. 

@Scott England, would love to make it up that way this time, been meaning to last several months but schedule hasn't permitted. Hope to see ya there.

Masters in Business Administration.  I do believe it has helped me significantly with the business side of things however its not necessary to have a degree in anything to be successful in Real Estate. 

@Marcin G.

I would simply tell them to park in the 4 free township parking permits that you had mentioned and avoid cutting down the tree altogether. 

@Blake Shuecraft

I'm with Yuriy on this one, what makes you feel that you can turn around and sell it for $125k?  

Also you will need to know the tenants lease terms, if they are under a lease that is longer than month to month you cannot go in and automatically raise the rents.  You have to honor their current leases.  Also if you do raise rents later on down the road by as much as you say they are under valued then you risk getting rid of some very good long term tenants if they have been there for 10, 8, and 1+ years.  In my opinion it is better to keep the rents a little below market value to keep good long term tenants. 

I would also like to add, that you probably shouldn't do any renovations while there are tenants living in the units.  Do the renovations as they move out, whenever that may be.