All Forum Posts by: Jane S.
Jane S. has started 112 posts and replied 490 times.
Post: tenants running business from rental

- Flipper/Rehabber
- Colorado Springs, CO
- Posts 499
- Votes 167
OK one person wanted to start a day care in the home. He was up to date on the rules & regs, but his finances probably would prevent him paying the rent BEFORE he bought supplies & waited for parents to pay. It was a nonissue since his live-in didn't file tax returns or have a local bank account, huge red flag. Plus he had never started a business so I rather he make his mistakes elsewhere.
The other hopefuls were a pair of women who worked for a co. called HOST. They had 3 young adults living with them ("day & nightcare" ) not ready to be independent. That's how they made their money, the HOST WEBSITE, IT pays pretty well. But they had too many needs (laundry on first floor, more sq ft, different location, dogs) things i cant change. GIven their knowledge of the location I dont understand why they showed up to view. Waste of my time. They had 1 person who simply opened the door and went walkabout unpredictably, they are not allowed to lock doors. (How is that a safety condition) All kinds of issues plus more that would arise AFTER lease signed AS THEY ALWAYS DO. And the paying organization sets rules. GLad I moved on.
I have a wonderful tenant who uses the garage for his outside job in finish carpentry but they keep the house so perfect in & out and I never know when i will need him to fix something! I would never turn down a handyman or HVAC tenant LOL
BTW I love all the wonderful and useful advice from this network. It's worth the BP membership!
Post: tenants running business from rental

- Flipper/Rehabber
- Colorado Springs, CO
- Posts 499
- Votes 167
Just wondering what the consensus is on tenants who run a business from my rental. I think they should pay some percentage of rent since they are using a residence as a commercial entity. what do you think or have you had experience with this? Obviously they get tax benefits etc.
Post: Would you rent to an applicant who didnt file tax returns

- Flipper/Rehabber
- Colorado Springs, CO
- Posts 499
- Votes 167
wow, practices vary across the board. when applicant gets cranky about submitting docs i move on. this was kind of a test. thanks for all the aspects of this. i have never had to evict anyone, and they stay for years. guess im good at this!
Post: Would you rent to an applicant who didnt file tax returns

- Flipper/Rehabber
- Colorado Springs, CO
- Posts 499
- Votes 167
I posted this as a kind of joke showing how completely unqualified people think they can get away with renting a nice place. She also lied about being evicted, she was "asked to leave" her last rental b/c she stopped paying rent and all other payments were 2-3 weeks late. The IRS garnishing her is very scary indeed. Can't argue with that. Thanks for the new info!
Post: Would you rent to an applicant who didnt file tax returns

- Flipper/Rehabber
- Colorado Springs, CO
- Posts 499
- Votes 167
This woman can't substantiate her earnings, since she didnt file tax returns in 2017 or 2018. Dont know if she ever did. She uses 2 last names, and her kids have a 3rd last name. No child support or alimony. She says she makes $5K a month "net" and didnt know what her deductions came to. Hasn't been able to show pay stubs or records, and her supervisor is never available. Just one example of the time wasters out there. Her employer wanted me to pay $42 for them to verify her pay rate and how long she worked there. She's a RN so she must have some smarts. She also owes a fair amount of money around town, accounts in collection.
Post: PROTECT YOUR RENTAL INCOME AGAINST TENANT DEFAULT

- Flipper/Rehabber
- Colorado Springs, CO
- Posts 499
- Votes 167
your demo is broken.
Post: PROTECT YOUR RENTAL INCOME AGAINST TENANT DEFAULT

- Flipper/Rehabber
- Colorado Springs, CO
- Posts 499
- Votes 167
your demo is broken.
Post: New landlord problems, tenant that thinks they're in charge

- Flipper/Rehabber
- Colorado Springs, CO
- Posts 499
- Votes 167
i would try to buy him out--probably would end up cheaper than stressing yourself trying to change him--and make his unit the first gorgeous reno but make sure you get his signature on all the relevant docs. Legacy tenants are 1000% bad news. I've had otherwise sensible sellers tell me i cant evict a legacy tenant even if they stop paying rent. Well whats gonna stop me? Pass pass pass
Post: Divorce not yet final

- Flipper/Rehabber
- Colorado Springs, CO
- Posts 499
- Votes 167
The applicant I like the best for my rental is nearing the end of a divorce process which will be final Dec. 2. His lease with me would start Dec 1. Wondering if the court's ruling, if it affects his finances, should be made part of his lease. His current lease, for a property he moved into over a year ago, has no mention of the divorce issue. I am in the process of doing tenant backgrounders for him & his partner. Since I have o control or knowledge of court ruling, will have to wait and see if his income will shrink. If this is discriminatory, I'm sure you will flag me on it. Right now he is more than qualified.
Post: Tenants have no bank accounts

- Flipper/Rehabber
- Colorado Springs, CO
- Posts 499
- Votes 167
Lots of would be coaches out there. I dont need a PM, FHA seminar, nd have never been called out for discriminating, plenty of others do that/