All Forum Posts by: JC Conchas

we have a 4-plex all 1/1. 

Unit 1 = is retired woman, kids pay her rent. Been here 15 years, rent is early or on time.

Unit 2 = divorced mother of two small kids. 4 years but have to remind her rent is due, pays it when I tell her.

Unit 3 & 4 = about 5 years each, young families, each two small kids. Direct deposit into separate account for rent at Chase bank. Always on time.

As for turnover, I haven't had much. I believe in providing a good, clean, well maintained apartment, and tenants will stay and PAY. I fix problems within a day, I'm there at least once a week, so they see me. No pets, no smoking, no drugs, no drama, no exceptions...

Also, in California HUD requires 2 people per room plus 1. So a 1/1 bath can have legally have 3 people. living in it. I allow max of four, if they are small kids.

JC

We have 10 units in three separate properties, they are a mix of 2/1 and 1/1. We just rehabed a 1/1, listed it on craigslist/westside rentals two months before it was ready. Had over 20 inquiries. We weded out unqualified tenenats, and picked between 5 qualified families. Was rented in less than 3 weeks, because of background checks and showing property will being fixed up. So didn't have problem renting it. 

The other units all have longer term tenants. The longest almost 25 years, shortest over 3 years. Point is, we don't see a higher turnover based on size of unit. 

What I believe is the benefit of 2/1 units are 5 people can live there and will likely have at least 2 working adults to cover rent. 

But remember location has a lot do with it. High demand area will not matter size of unit. If you provide a good pruduct you will get good tenants. 

Good luck

We had a similar problem with a property we closed on this past November. One tenant was a packrat, he had a small Chihuahua that pooped everywhere, junk everywhere and a broken car, the apartment was filthy and needed a complete remodel.  

Anyway, the day after we closed I gave him a 60 day notice to move. In California if tenant had been there over 1 year, you must give a 60 day notice to move. 

We just finished and rented it. The other tenants are happy he is gone, and I know I am. 

You need to get rental agreements, deposit info and estoppels for each tenant. Call your agent and insist you get this info, it's their job to get you all this info prior to the close of escrow. Also, don't forget info regarding the latest rent payments... IE: does it go to seller, then passed to buyer thru escrow. Get that info early, my agent botched that until I asked about it. 

Good luck

In California, he lied on his application or rental agreement is enough. Give him 30 days notice that you will not be renewing the lease.

Good luck

The carpeting has to be replaced next. And the flooring in the kitchen. We agreed to prorate the days she was out of the apt.


She is happy and was very agreeable, thru the entire process. She didn't hound me about finishing. Overall, was a good experience. But YMMV depending on your tenant, if they are good tenants, and if you want to keep them.

Saves the hassle/expense of a complete remodel.

Good luck.

JC

I'm in the final stages of this. Bought a fourplex. 1 unit bathroom was a complete gut to studs.

The tenant had been there almost 10 years and according to previous owner, paid on time. So, I gave the tenant the option of moving out, which meant giving her 60 days to move, or stay and live with friends/family while we did the work.

She decided to stay, and stayed at her sister's. It took almost two weeks, with inspections, new window, tile, She has completely new bathroom. The carpeting 

Hi everyone,

I would also like a Buildium referral. 

Thanks
JC Conchas

I agree with Brendon,

Stop calling them. Go to the rental unit and hand them 3 day notice to pay or quit, to show this is serious. If they aren't home or don't open the door out notice on the door and mail one via first class mail.

Then call Dennis P Block from www.evict123.com. He has been in business for over 40 years dealing in nothing but tenant evictions in Southern California. I have used them twice, and they don't fool around.

He has free videos on YouTube and his website for filling out the 3 day Notice to pay or quit. Tell them what's going on and they guide you. You can also have them serve the 3 day notice, but they'll charge you for that, and it's easy to serve the notice yourself.

Most important, keep calm, don't threaten, badger or harass the tenant.

 Let the attorney do that. 

JC

What's involved in getting a contractors license in California? We own 2 multifamily properties, one has 4 units the other has 3 units, in a city that requires me to pull permits by a licensed contractor to do any repairs, like changing a porch light, a sink or even replacing a water heater.

So thinking long term, if I had a contractors license, I could pull my own permits.

Any ideas.

JC

Hi Michael,

I'm in California, so I dont know if this will work in New York.
I give my tenants a letter stating it is their responsibility to get and maintain renters insurance. I have them sign one copy of letter for me and I give them a copy.
I make it clear the insurance we have covers the building only and not their personal belongings. So if they dont get insurance and something happens I'm in the clear.

Hope that helps.

JC