All Forum Posts by: Val Csontos

I would not elaborate about not working out, just put a combo lock on the basement door and do not give him the combination! Than i would tell him that my investor partners want me to renovate the place starting with his unit, but you want to make his move a bit more pleasant, so here is the $500 if you go quietly..........by this and this date :)

.Ps we do not know if you have Yearly, or M to M lease. If you are on a Yearly lease than just got to wait it out!

I just write into our lease that they must deposit/wire/ etc.... the rent and if they send me a check there is a $13 deposit fee they also have to pay me. This way they always choose to deposit the rent personally. I staple a deposit slip to their lease and that is it, that is all they need to put money in our account. I can see it online when they make a deposit. We also raise our rent by about $100-150 mo over market and give a discount of the same amount if they pay by the 4th. (almost no-one ever deposits late) even when one of our tenants had an out of state emergency they were able to deposit into a BB&T account from another state :)

Not here in Maryland! Here the only thing starts your process over if tenant pays the entire rent amount he/she owes, then he/she gets two more chance to "play and pay" at the last minute.

After that, I can file for eviction, AND successfully evict him/her REGARDLESS he/she had paid or not! :)

Hi all, I am curious how are other markets doing? By How much do you increase/decrease rent in your units? Are there any differences between the two?

Let me start with mine:

Rents in my market have been going up probably 3-6% per year depending on housing type, and I raise my rents to about 2-3.5% Depending on length of tenancy.

Our Lease does state:

tenant deposits to our bank (BB&T) or sends us check with an extra $13 for check handling fee. So naturally each of them deposits :)

Banks does provide the proof of payment to tenant as well!

If they deposit cash it does post with-in minutes to the account,

if they deposit personal check it takes about 36 hrs. In either way the deposit date must show the 4th on my virtual statement......in order to avoid late fees.....

K.S.S. :)

John, How is your market?

If there aren't enough units, i would start showing your place now as a little dirt / mess won't stop the interested ones from signing a lease if you promise AND do clean up! (often they need the place so bad they even let me clean up while the are getting organized, so ofter we only have one or two half a day to do it)

If they market is not as hot, just offer two weeks of free rent if they sign lease now, and while they live in the unit for free, make the improvements to the unit.

ps even if you want to give them free rent, make sure they pay your full month of rent deposit etc... and just "pro rate" the following month to be on the safe side!

Good Luck!

In the late 90's I was a low ranking Active Duty Air Force enlisted member, and I was working in MIL Intelligence, One day, after watching late night TV I purchased a Carrolton Sheets course (How to buy properties no money and no credit) and six months later I was i was buying 2-3, 4 properties in middle class suburban areas, with no money down, $100/ cash flows and about 10-15% instant equities in each home. This was so exiting to me that i was sharing my excitement with everyone in the office/ or anyone who asked. Even used my enlistment bonus ($20K) to buy a few more houses) ... i was in may late 20s did not know any better....

The end result was when i finished my enlistment a few years later and I had a "going a way party" almost no-one showed up but a few people! That is when i realized that jealousy exists! I was treated like someone just won the lottery. I still have those properties, and a few more, but i almost never talk about them anymore? What for?

Mike,

Don't worry, it is a way too soon to feel vacancy with a Jun start date! I would only be concern a little bit if i was 2-3 days before start date! A couple of things to keep in mind.

Craigs List (CL) is fantastic, but make sure you have two ads made up with pictures AND let one "age off" for two days and than renew and do the same with the other one! Every two days! This way your ad is on the top of the list every day since you are renewing on each day...

I also noticed C L changed their searching set up. in order for a succesfull CR ad campaign you must have key words about the location of the property and its surranding areas in the Body of the ad (and not only in the tittle). Like Hamden, New Haven, East Haven ect......I like to add all of them in just in case!

Last but not least have you checked to make sure your asking rent is in line with your local market? How much do other similar properties rent for?

Go visit realtor.com zillow.com Craigs List etc and take a look. you could even call on the few property owners to see how "flexible" just to make sure.....

I understand what you guys are saying how ever that does not change the fact that if you wait for some one and they are flakes, it non of the less is waist of Your time! Our experience shows if some one is secure enough to process an application with the $30 attached to it they are ok(most of the time). If they would like to "take home" an application we never allow that since not one ever came back with it! Bottom line we only show a unit 1-2 hr per week! it works for us.

Funny topic! :) but i got a serious question:

Many of you said you have an "appointment" to show your place.

Why would you do appointments?

We did that years ago, and half of the time the applicants were no-shows. So now we don't do appointments just have a "showing hour" Saturday say between 1-2 or 2-3 and that is it. Between the few flakes with have the good prospect come too! Repeat this once, twice or as need it, and bannng the place is rented. Why goof around with "appointments" ?