All Forum Posts by: Henry T.

I'd say first requirement is to know the laws about rent increases city, and state.. and This probaby goes without saysing, that you're acting as a PM under the protection of an LLC? Especially in California. Follow the laws and especially the notice procedures, or you'll find in court that you did it all for nothing.

We might use Zillow to get some leads, but would never use their services for screening or application. Most importantly they don't meet our standards, and are also privacy invasive.

Better to use your own application and screening. We insist on a FULL credit report. And we check court history at the local jurisdictions. 

Quote from @Bruce Woodruff:

I don't see how you get worse tenants by raising the rent? The higher the rent goes, the more likely you are to lose the dregs..... 

Not that all people with money are great tenants, but your odds sure get better.....

 I agree with Bruce....Also, being that you are Seattle, I would raise another 10% since you are in a high risk landlord environment.  By law, you must rent to the first qualified applicant(you cannot choose from a pool), 6 MONTH notice for any rent increase. Mandatory lease renewal. Registration. Inspections. Just cause. Cannot evict if family has kids in school. Tenant can add roomates, etc, etc. YUK.  Good luck.

Since taking a picture costs nothing, there's no excuse for not taking 1000 pictures (with date) before a tenant moves in. Its a good idea to let them know it too. Most tenants are really good decent people, but a few psycho's can slip thru the process.  If he truly wrecks the joint, call the police and file a report. Take loads of pics. He won't leave a forwarding address. Once he gets settled, go after him.  If he forwards his mail, Mail a burner phone to the old address and track where it forwards to. Let us know how it turns out.

All of my places are under 900 sq feet. The kitchens are small. A dish washer would really limit storage space so I don't include one. Never had a request for one. Only once in 45 years did I have an applicant decline because of no dishwasher. No problem, next. My average tenant lasts over 7 years. Not an issue. A recent remodel expanded a kitchen, I put in the plumbing and electrical for a dishwasher but still opted to not include one at this time. This unit rents to a high income techie, he doesn't care. He bought himself a fancy $100 drying rack and got rid of the one I had.  I personally don't like dishwashers, but I know many do, still not a problem renting without.

Quote from @Colleen F.:

@Horacio Gutierrez  this is a regular window AC?   I would just put in the lease that it is left for convenience by previous tenant and will not be fixed.   Or just take it out and have them provide their own.  

Yes. I say the same with garage door openers, wash machine too. I don't provide these items. "It was left by a previous tenant".  My checklist says, tenant wishes to use "fill in blank" left by previous tenant.
BTW, nobody works on window air conditioners, when you can buy a new one at Best Buy for $99 

Write a new lease. Fill it up with everything.  I have 3 paragraphs just on Lawn mowing and the penalties there of, 3 paragrraphes on vehicles and the penalties, etc, BBQ's away from house, etc, Pets and disturbance and penalties,  noise, rubbish and penalties, etc,  .....You're new at this. Find a local landlord group you can join and get some basic forms. Then add your own additional 20 pages of particulars.  Gotta love Ohio. Dayton. And home of the mighty Wright Brothers!!! What a town! Wright/Patterson wow! The beginning of Aviation! Huffman Field, ....sorry, I get carried away.

I'm a buy and hold guy, but if you're a hustler you could do well with $200k.  But that $200 a month will be $1500 in 5 years. Also, if you were to find your dream property, do you have the stomach to go up against 20 other bidders? That's what the market is like presently. It's so competitive, you may never get through that door again. Good luck.

https://www.idahorealestatelaw...

One year on job, 750 credit, income 4x(each applicant), no evictions,  no protection orders, the right to inspect their present location, a garnishable wage from a steady income source.