All Forum Posts by: Lokesh W.

Nice thread. I was looking for info Private Money Goldmine; will not touch that! It seems like they have a lot of money because their ads are all over internet.

Great list of things!

I remember many years back when I was signing a rental lease; the landlord had a sheet where I noted the all the defects that already existed on the property like scratches on the kitchen cabinets, door slightly chipped etc. This is similar to rental cars where we make a note of all the existing body damages before we rent the car. Do all landlords do this?

btw, I forgot to mention I did credit/ background check and financials.

Dan C.,

I noticed that you live in Milwaukee, WI. Are you a member of any Milwaukee REIAs? I live in Milwaukee but work in Madison as a computer consultant. Since I stay in Madison during the week, I became a member of Madison REIA. I will send a colleague request.

Steve Babiak, "Discriminate" is a pretty big strong word. Use this word more carefully. I did not discriminate.

George P., I like your quote in your signature - "Treat your tenants well. They're buying you a building."

This is a $2000 a month rental (which is somewhat high end in Milwaukee) so I took a chance with the check – very likely, it is credible. Other visitors were also professionals like doctors, engineers, college professors etc. This place is closer to the lake and lake park.

I told my future tenants that my lawyer is not happy with me allowing tenants taking they keys 2 weeks before the lease start. I asked them to pay prorated rent for the 14 days. They thought about it and did not want to pay prorated rent. Here’s what happened:

- They signed the lease starting June 1.
- I deposited their check. It is good.
- They want to come in this weekend to take measurements of the rooms to plan their arrangements of their furniture.
- On 1 of the weekends, they will be here to move some inexpensive items for about 3 – 4 hours.
- 2 days before the lease start they will take the keys.

I think this is fair considering that I had verbally agreed initially to give the keys 2 weeks; again, I want to mention that this came as a surprise request on the phone. The TV host talks mostly about the powerful people he knows like lawyers, business owners, owners of major restaurants, bars/ nightclubs, celebrities etc. His fiancé is more eager to move in settling down. I spoke about all these changes in key situation with her. She was easy to talk to about these things...

Anyways, they seem like nice people maybe really nice people. I like them and that's why I decided to accept their application. It is just that we don’t each other and hence the anxiety on my part. I just want to set the right tone in terms of tenant-landlord relationship.

Dan C., I actually told my visitors at my showing that my property would be available on May 15th, which meant that my property will be available by then.

Jon Holdman
They have given me a check for security deposit, which is the amount of first month's rent. This is not for holding the property. I could ask for $500 deposit for holding the property. I think I will talk to them once more about paying me proprated on the number of days before June 1st and continue marketing the property.

Thanks for your replies.

I have other qualified renters. Since I am sharing my living space (duplex with the tenant), I was looking for something more than just a qualified renter. Things clicked only with 2 of the applicants. One of them is this couple that I am working with. The other couple cannot move in before July 1st.

If I were not sharing my living space, I would have chosen any applicant who is qualified based on credit/ background checks, references etc. Anyways, I will let them know that they have to pay prorated rent.

Hello,

I am renting my upper unit of my duplex. They are starting the lease in June. The guy is a local TV host. His fiancé, their kids ( 1 kid each from previous relationships) and he are moving in. They asked me to give keys 2 weeks in advance to help them move their stuff.

They said that they liked my place so they are moving even though they both will have separate another 30 days rental lease at their current residences. i.e. they don’t want me chose other applicants who are ready to move in by June. This came as a surprise to me. I agreed to give the keys for 2 weekends prior to them moving in. Now, they requested me to give them the keys 2 weeks before and let them keep it so they can move their stuff. They seem like nice people but I don’t want to set the wrong tone that they can just break rules.

Also, I am wondering about the things that they keep before the renters’ insurance commences. They promised that they don’t plan on living there before the lease starts.

What are some of the issues of giving the keys in this situation?

Any suggestions are greatly appreciated.