All Forum Posts by: Michele Fischer

If it is no longer owner-occupied you will jeopardize your financing, so you'll need to sell, refinance, ask the lender permission, or risk trying to get away with being out of compliance (and having the loan called due).

If you are happy with the shrubs, I would say no. We want to work with tenants to improve the property if it is a win-win, and doesn't sound like this is. I would also not allow daisies. As much as I love them, they can tend to smell like skunks.

We fill out the condition report as we think it to be, go room by room, and hand note anything they notice, have them sign it and initial each page. We take it home, photocopy it, and bring it back the next day as a chance to see how move in is going. Once we had someone contact us to record a missing screen, which we thought was reasonable and noted. This way you are not at their mercy at all.

We have feral cats in our rental community, have some experience with this. Keep monitoring the situation, there is a good chance that the tenant will start feeding again when this has blown over. You can/should walk around the property, looking for habitat for stray cats. If crawlspace is not blocked off with wire, maybe offer to do the neighbors while you are doing yours.

Thanks for the input.

We seem to have a batch of good tenants, then some bad, then good again, and I'm always looking for ways to weed out the bad. In our low income area if we tighten down the criteria too much we don't get applicants. But I think their understanding of peaceful enjoyment for the neighbors are culturally different from mine. Or, putting upholstered furniture outdoors and suddenly the place looks like a dump.

We have complaints from the city on mowing and trash piling up for one (which ended the debate with hubby on when to intervene, lol) and neighbor complaints for the other. We ask the neighbors to phone us at 2am when they are being obnoxious, but they don't, and I think it is overblown, but the neighbors hate them and that's not fun for anyone.

Lawyers here say we cannot ask about smoking and can only ban smoking from the interior, not the entire property. I need to poke at that some more. I think all of our tenants are smokers, though, so guessing we have to live with it regardless. We don't ask, but they volunteer, and we see them smoking on the porch when we drive by.

For those who find their own tenants, maybe particularly for low income units, do you include any lifestyle questions in the application or screening process? For example, info on whether they own a lawnmower, how they tend to interact with neighbors, if they like to have a lot of visitors, housekeeping standards, etc? If so, can you please share? I'm struggling with a few current tenants on these softer issues. Explaining my expectations at agreement signing obviously wasn't enough, trying to figure out how to beef it up on my end or weed out on their end. Asking about smoking is discriminatory, how about these topics? TIA for input!

Chris, this discussion applies to federal income taxes. If your state also has income taxes, that is another complication to investigate. I am a small investor with a financial background, I don't pay a CPA for taxes. The electronic tax programs ask you all the questions, so that and some understanding could get you by while you are small. The main thing is to keep receipts and track all expenses and trips to the properties so you have the info you need, and understanding what is capital improvements vs. expensed repairs. My state doesn't have income taxes, and my federal tax liability has been bigger or smaller with my rentals included, but not enough to swing decisions.

One thing that hasn't been brought up is the compromised ability to get into the property in case of emergency or abandonment. How could you ensure that you have possession of the true security codes? I'd be very hesitant.

Welcome, Greg, from southwest Washington! My grandparents live in Mountlake Terrace, I-5 is a road well traveled for me. Don't try to hide your newbieness, I like newbie questions best, since I dabbler more than hustle. :)

We make our tenants sign a crime free addendum at move in. It states that tenant, any members of the tenant's household or a guest or other persons affiliated with the tenant that participates in crime in or near the unit (outlining in a page what we mean by crime) means immediate end of tenancy. It came from our local police, they have a landlord program. Talk to the police, see what they can offer (extra monitoring, level of concern) even if the records can't be located or don't exist. You can't just take the neighbors word, it could be exaggerated. Consider scheduling a maintenance inspection - snake the drains and do some mtc checks, but keep your eyes peeled for an criminal or suspicious activity. And/or ask them about the situation and give them verbal notice that you are watching more and any more issues will jeopardize their tenancy.