All Forum Posts by: Michael Julian

Thanks Jd. I was thinking along the same lines, but wanted feedback. I generally bring rents up 3% a year as well when resigning the lease, (that way I don't have a big jump after someone has been there 10 years), and it would be easier to do so next year if I don't hammer them now.

Over the last several years, I have used Craigslist to advertise vacancies and have run into an issue in the past , when I have underpriced a unit, there have been people willing to pay more than the listed rent to move up the list for the background check process and possible tenancy. This time around, I listed on Postlets and have had a huge increase in interested potential renters, despite pricing that I thought was competitive to the market (Thanks BP!)

The rental is currently occupied, so I have set a time for an open house and have a dozen people that say they will attend, (I expect half of that number to show up) I keep notes on all inquiries and responses to ads, and generally will consider the earliest inquiry for anyone that fills out an application at the open house.

If someone second or third on the list offer more rent, I am considering presenting the option to those higher on the list to rent at the higher price, but would have to process both applications and make sure they both qualified before doing so. Does this make any sense? Is this a common issue if you have underpriced the market a bit? Is this legal and ethical?

Thanks!

uslegalforms.com has state specific leases. I started with one and added a few things over the years. 

If I remember correctly, you can buy a package that comes with the applications, welcome letters, move in/out checklists, and some other forms you will need.

Just stumbled on this thread. I am a Paramedic that services County where my rentals are. I'd have called my dispatch and let them sort it out. Those of you that are saying that you might get a bill from EMS don't know how we operate. And those stating that PD and EMS might think it is a waste of their time must have some burned out Public Safety workers in their area. If they get there and feel that way, tough s*it. We get paid to deal with that stuff, so we do it even if we don't feel like it that day.

Unresponsive people turn into dead people every day, even after they wake up. Not contacting EMS would be negligent on your part. Glad it worked out, but it sounds like you may have to check on her from time to time. Decomposing bodies will ruin the rest of the units and make a leaky pipe look like a minor inconvenience, and it sounds like she will be assuming room temperature in there sooner than later. 

Keep us posted on what happens. I had this exact thing happen a couple years back. The open house was so crowded that people bid it up on their own when applying. 

I had researched the comps in the general area pretty well, but didn't take into account it's particular location that was more convenient than others in the area. Lesson learned!

Do you ever give your good renters bonuses? Last Christmas, I gave two of my best renters $50.00 gift cards to spend however they wished. These were tenants that paid every month early or on time, and maintained my property with meticulous cleanliness. They rarely had issue unless something required my attention for repairs. They really appreciated the little bonus and have become my best renters by far.

They are roommates, and one of them has purchased a house, but I would really like to keep the other if she can afford to keep the place herself, (or can find a qualified roommate). I was thinking about offering a small bonus if she signs another one year lease. 

Is this anything anyone else has done to keep those elusive, "perfect" renters?

 I have had a property in the Nashville area since 1984 that is a condo on the higher end, (rents for $1800.00 right now)

I have almost exclusively had it rented over the years to people new to the area. Some get a job here and need a place quickly and don't have time to search for a house, or want to get an idea of where to look first. 

The property sits right near an inner loop interstate, so it is convenient to just about anything, so it always rents quickly and I can be picky as to who I place there.

The only downside is that people only stay 2-4 years or so, but like I said, it is easy to find new renters and people generally take great care of the place. 

There have been times I have left my stove on because, to turn it off, you turn it all the way and past high, to off. They are most likely turning it all the way down to the stop and think that they are turning it off, then returning to find the burner very low but burning.

This commonly happens to people used to an electric stove.

Long story short, operator error.....

I have been using Popmoney on one of my properties and direct deposit on another. The only question that has just come up is what to do if a tenant makes a partial payment.

I don't want to accept a partial payment for obvious reasons. I know I can reject the payment with Popmoney, but I am not sure about the direct deposit. 

I have not had this issue come up, but curious if anyone else has.

Thanks!  -Michael 

I like to take a look at their vehicle when they show up to look at the property. If it is clean and organized, they will most likely treat their living area the same way. 

I don't care if it is a newer vehicle or a beater, most responsible people will occasionally wash even a cheap car and replace the tires before cords are showing through.